Tempers fray in Tarifa
Tempers are starting to fray in Tarifa over plans to develop a big new port that detractors say will damage Tarifa’s identity as one of Spain’s grooviest coastal towns, where hippy trail meets surfer dude. Opinions in Tarifa are split over the plans, and activists opposing them have been beaten up by thugs thought to [...]
Marbella ruled out rehousing owners of doomed Banana Beach development
The municipal government of Marbella rejected a suggestion to re-house owners of the doomed Banana Beach development, reports the Spanish press. A beachside complex of 297 apartments, Banana Beach is only one of 3 occupied developments (the other 2 being Río Real and Torrevigía) that is not included in the town planning amnesty legalising 18,000 [...]
Banks pushing to finish developments unlikely to sell
There was a time when Spanish banks were relaxed about letting developers go under, but that changed when banks realised that even wounded developers are better at the property game than they are. Now it seems banks would rather keep developers afloat and working on completing homes with a slim chance of selling, even if [...]
Every cloud has a silver lining for British couple buying on the Costa del Sol
Publicity Simon Jordan, a Guildford-based British Airways cabin crew member, his wife Donna, and son Oliver, 12, had long dreamed of owning a holiday home in Spain. But having had their ‘fingers burnt’ once before purchasing off-plan from a Spanish developer they were understandably nervous about starting the process again. However, it seems that every [...]
Value of mortgages outstanding stagnates for first time
Total value of mortgage loans outstanding stagnated in June, rising by just 0.9% year on year, the smallest growth since present records began in 1995, according to figures released by the Bank of Spain. In comparison, overall mortgage lending grew by 8% in June last year, before the credit crunch really started to bite.
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