New mortgage lending down 34pc last year
New mortgage lending in Spain is still very depressed, say the latest numbers from the National Institute of Statistics (INE). These figures are one of the few reliable housing market statistics we have, so it’s always worthwhile paying attention to what they have to say.
Desert Springs now irresistible with 100pc, low-cost mortgages
Publicity
Developer believes that 100pc, low-cost mortgages could open the floodgates for property sales in 2010.
Pent-up demand for property in Spain was stifled last year by the effects of the global recession, but this year it looks as if buyers are taking advantage of ‘buy now’ incentives, discounts of up to 55%, and 100% low-cost [...]
Galicia plans amnesty for tens of thousands of illegal properties
Plans to legalise tens of thousands of unlawful properties in Galicia were given a boost yesterday when the region’s Socialist party decided to support a draft new land law granting an amnesty to properties built without planning permission before 1 January 2003.
Housing gets more affordable but only thanks to low interest rates
Property prices don’t really mean much unless you compare them to incomes, to get what is known as the housing affordability ratio – the proportion of annual gross income that families have to spend on financing the purchase of a home. The housing affordability ratio in Spain has been going down, but only really thanks [...]
Community fees rise as recession bites and some owners stop paying
There’s a lot to be said for living in a ‘community of owners’, or what the Americans would call a condo. Communal costs are shared so you get to enjoy facilities like gardens, pools, and tennis courts for a fraction of the cost. But at times like this, when the economic going gets tough, [...]
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