Re: Re: The Spanish property market in 2010



Barclays capital say Spanish banks need another 46 billion Euros of capital to cope with losses on real estate loans, mainly to developers.

Bad-debt ratio on loans to developers is an eye-watering 12pc, compared to just 2pc on residential mortgages.

61pc of private sector borrowing is property-related, €445 billion to developers and constructors (>40pc of Spanish GDP 😯 ).