Paradox of glut and shortage on the horizon as planning approvals continue plunging
Planning approvals were down 59% to 102,555 over 11 months to November last year, show new figures from the Ministry of Development. Planning approvals for all of last year are on track to be the lowest for more than 20 years.
Real estate sector “bankrupt” says Spanish Mortgage Association
“The real estate sector is bankrupt”. That is the claim made yesterday by Mr. Santos González Sánchez, President of the Spanish Mortgage Association (AHE), speaking on behalf of Spain’s mortgage lenders. This has serious implications for the Spanish banking sector and the wider economy.
Tidal wave of repossessions in 2010
Spanish banks and cajas (savings banks) may have to deal with a tidal wave of repossessions this year, with big implications for the property market, according to a recent article in the Spanish daily Publico.
Spain one of few European countries where property prices haven’t risen since crunch started
Spain is one of the very few European countries where property prices have not risen in any quarter since the economic crisis began, according to the latest property price index published by the international real estate consultancy Knight Frank.
100pc financing with 20pc discounts in Catalonia
Mortgage lenders and developers in Catalonia have struck a deal to make it easier for people to buy homes in the region, which encompasses the popular holiday home destinations of the Costa Brava and Costa Dorada. Mortgage lenders have agreed to offer 100% financing on the condition that developers drop their prices by 20%.
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