Real estate sector won’t recover until mid-2011 says Bank of Spain
Back in 2007, Spain was partying like it was 1999 on the back of a real estate bubble. After the fiesta came the hangover, which the Bank of Spain (BoS) now says will keep the real estate sector in recession until mid-2011 at least.
House prices fall 1.2pc in Q1 according to official index
Spain’s official house price index shows prices falling 1.2 over 3 months to the end of March, and by just 2.9% over 12 months, which doesn’t sound too bad. The only question is, what have the técnicos down at the National Institute of Statistics been smoking?
Ask a Lawyer – My tenant is not paying the rent, what can I do?
My tenant is not paying the rent, what can I do? I have been advised that now the eviction process is faster in Spain and I can get back the property in weeks, is this correct? More
Non-residents buy just 500 holiday homes in year to April
The Ministry of Housing has published its figures for house sales in the first quarter. If the Ministry’s figures are correct (they often aren’t) non-residents bought just 513 holiday homes in Spain during the first 3 months of the year.
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).
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