Planning approvals down 24pc in Q1
Residential planning approvals are still falling fast, showing that the building sector has not yet touched bottom.
Sir Geoff Hurst wins High Court case over £600,000 Spanish property
Sir Geoff Hurst won a High Court fight yesterday over a £600,000 investment in Spanish property. The England World Cup hero, along with six other investors, sued Mark Cordner, their former financial adviser, for misrepresenting terms of a £2 million deal for off-plan villas in 2003 and 2004. Read the full article at The Times [...]
Government cuts notary fees, making it fractionally cheaper to buy a home in Spain
The government has announced a 5% reduction in notary and registry fees on property deeds as part of a package of measures to reduce the deficit and stimulate the economy.
Mallorca Property Market Update
Mallorca Property Market Update – May 2010 by Jan Westwood of The Property Finders. New builds in Mallorca Figures just released from the Housing Ministry reveal that Spain had a total of 688,044 newly built and unsold homes at the end of 2009. Half of these homes are in three main regions – Valencia accounts [...]
Holiday home glut will take 4 years to clear say builders
Spain’s glut of newly-built holiday-homes will take the market between 4 and 5 years to digest, according to José Manuel Galindo, President of the Association of Developers and Constructors of Spain (APCE). The over-supply of first homes, on the other hand, will have gone within 2 to 3 years.
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