Spanish property still 12pc over-valued say rating agents S&P, but I don’t know

Spanish property prices might still be 12% too high say rating agency Standard & Poor’s, despite a market correction now into its 3rd year (at least). But S&P’s conclusions are only as good as the figures they use, in this case official figures that I for one don’t believe (and I’m not the only one).

Another demolition order set aside in Albox

AUAN Press release – 1st June 2010 The organisation “Abusos Urbanísticos Almanzora – No” can confirm that another two demolition orders affecting British homeowners in Albox have been set aside bringing the total now set aside to five.

Engel & Völkers increase Spanish sales by 25pc in Q1

Engel & Völkers, an upmarket international real estate agency, has started 2010 with an outstanding performance in Spain. The company increased sales in the first 3 months by 25% achieving total sales of 3.19€ million in the first quarter of 2010, easily beating the total of 2.58€ million for the same period last year.

Banks forced to increase write downs, paving way for bigger price reductions

The Bank of Spain (BoS) has announced plans to force banks to recognise bigger losses on debt-for-property swaps. That might mean bigger discounts for home buyers if the impairments are passed on.