Latest Euribor and Spanish mortgage news
Euribor (12 months), the interest rate normally used to calculate mortgage payments in Spain, fell to a record low of 1.334% in August, down from 1.41% in July. Euribor is now 75% lower than it was this time last year, when it stood at 5.323%, leading to significant savings for mortgage borrowers on annually resetting [...]
New mortgages rise by 7pc in June
The number of new mortgages signed in June rose by 7.2% compared to May, suggesting that the mortgage market may be starting to recover from the credit crunch. Optimists argue this will breathe life back into the property market.
Campaigning to safeguard homes in Almanzora, Almeria
The property action group “Abusos Urbanisticos Almanzora No!” (AUAN) has filed planning objections against all four of the recent modifications to the Arboleas Town Plan affecting the areas of Los Torres, El Rincón, Los Menchones, the town centre, Los Torres, La Perla y El Prado, Limaria and Los Llanos and published on the 29th July [...]
Government minister blames Spanish real estate crash on bank greed
Bank greed is the “indisputable origin” of Spain’s property crash, according to Celestino Corbacho, Spain’s Minister of Employment.
Residential construction to fall up to 25pc this year
Residential construction activity is expected to fall by as much as 25% this year, according to a new report from the Fundación Laboral de la Construcción, a construction sector labour foundation.
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