tag:blogger.com,1999:blog-6396278Fri, 06 Nov 2009 12:36:32 +0000http://www.euroresidentes.com/Blogs/property-spain/index.htmeuroresi@euroresidentes.com (Euroresidentes)Blogger153125tag:blogger.com,1999:blog-6396278.post-1365429744914386233Wed, 16 Sep 2009 06:29:00 +00002009-09-16T08:30:34.830+02:00Lowest fall in housing sales since crash in property marketHouse sales are still at very low levels compared to those registered before the crash in the property market at the end of 2007. According to figures published today by the Spanish National Institute of Statistics (INE) housing sales were down by 20.3% compared to the same month a year ago. However, this is the lowest fall since housing http://www.euroresidentes.com/Blogs/property-spain/2009/09/fall-in-spanish-property-market-slows.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-1519273450022412654Wed, 09 Sep 2009 09:57:00 +00002009-09-10T11:57:50.571+02:00According to figures published by the Ministry for Housing during the first 6 months of this year 217,589 houses and flats were sold in Spain – 31.16% less than during the first quarter of 2008 (316.096 houses and flats were sold during this period). These are the worst figures for the housing market since 2004 when records on the number of property sales began. The fall of 31% in housing sales http://www.euroresidentes.com/Blogs/property-spain/2009/09/property-sales-fall-31-in-first-quarter.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-7290968803779181958Mon, 17 Aug 2009 08:06:00 +00002009-08-17T10:33:22.845+02:00Slump in housing market also affects rental market with falls of up to 30% in cost of rentingAccording to figures released today by the government, there has never been a better time to rent a property in Spain. And whereas renting has never been a particularly attractive option for young Spaniards who have always tended to stay at home until they have enough money to put a payment down on a http://www.euroresidentes.com/Blogs/property-spain/2009/08/rental-prices-in-spain-fall.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6273778725311668121Thu, 30 Jul 2009 07:28:00 +00002009-07-30T09:33:48.316+02:00Mortgages go down by up to 50% following record fall in Euribor Those people who are due to review their mortgage repayments will be very pleased with the latest figures for the Euribor (Euro Interbank Offered Rate) interest rate. The Euribor will close this month at 1.412% following the largest interannual fall ever in its history. This means that long term mortgages in Spain could go down by ashttp://www.euroresidentes.com/Blogs/property-spain/2009/07/mortgages-in-spain-fall-by-up-to-50.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-2613180521851829263Tue, 28 Jul 2009 07:52:00 +00002009-07-28T09:53:29.057+02:00Surplus stock of flats will take between two and five years to be absorbed into housing marketFollowing a decade of boom in the construction industry large areas of the Spanish coastline now appear to be a concrete cemetery. Town halls and property developers are both responsible for the thousands of houses and flats that now lie empty all along the Spanish Mediterranean coastline. Given the http://www.euroresidentes.com/Blogs/property-spain/2009/07/property-surplus-in-spain.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6815048188384165569Sun, 19 Jul 2009 08:43:00 +00002009-07-19T10:44:45.679+02:00Spanish construction industry suffers biggest fall in production compared to other EU countries According to figures provided by Eurostat production in the Spanish construction sector continued to fall in May with a drop of 4.3% compared to April which is the biggest fall out of all EU countries. After registering a fall in production of 3.3% in April production in the Spanish construction http://www.euroresidentes.com/Blogs/property-spain/2009/07/spains-building-industry-falling-more.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-7367052862993312473Thu, 02 Jul 2009 08:33:00 +00002009-07-02T10:38:58.770+02:00The Spanish National Institute for Statistics (INE) has published figures this week which demonstrate that the market for new housing in Spain is deflating significantly. The negative tendency for this sector of the Spanish property market was further underlined yesterday by the Society of Property Valuers. According to the latest research by this organization the price of newly built houses and http://www.euroresidentes.com/Blogs/property-spain/2009/07/cheaper-new-housing-in-spain.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-3316719081848502511Thu, 25 Jun 2009 12:31:00 +00002009-06-25T14:33:05.534+02:00Defaulting on mortgage repayments in Spain in 2009 soars to 4% According to forecasts made by the Spanish Mortgage Association (AHE) defaulting on mortgage repayments is expected to remain at record levels and will close at 4% at the end of 2009 compared to just 2.36% for 2008 due mostly to the rise in unemployment. According to the association ‘the rise in unemployment since the beginning of http://www.euroresidentes.com/Blogs/property-spain/2009/06/rise-in-mortgage-defaults-in-spain-in.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-5236679174893543221Tue, 23 Jun 2009 08:20:00 +00002009-06-23T10:45:54.636+02:00Spanish regional authorities ignore slump in property sales and continue to increase capital gains tax With the slump in property sales and the inevitable fall in prices property sellers in Spain are now facing a new problem: the fact that Spanish regional authorities continue to value property at a higher price means that the seller is faced with the problem of having to pay higher capital http://www.euroresidentes.com/Blogs/property-spain/2009/06/capital-gains-tax-on-property-sales-in.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-3787869391212763071Mon, 01 Jun 2009 15:56:00 +00002009-06-01T17:57:41.706+02:00Construction companies will add 385,000 houses to surplus housing stock The surplus housing stock which construction companies have accumulated and for which they are finding it difficult to off load is now the number one problem for those in the housing sector. An internal report compiled by the Ministry for Housing and released by El Pais today has for the first time not only issued a figure http://www.euroresidentes.com/Blogs/property-spain/2009/06/surplus-housing-in-spain-rises.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-3762412410438559445Thu, 21 May 2009 08:23:00 +00002009-05-21T10:41:46.003+02:00Houses and Flats for sale in Spanish Banks and Savings banksThe current economic crisis has forced many Spanish banks and building societies to put properties (the majority houses and flats) up for sale at significantly discounted prices or with some very interesting credit facilities for the consumer. The properties on sale are the result of repossessed properties from individual or business http://www.euroresidentes.com/Blogs/property-spain/2009/05/property-bargains-in-spain-as-banks.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-1805578260563268205Tue, 05 May 2009 07:20:00 +00002009-05-05T11:06:08.993+02:00Spanish estate agents lower their prices in direct competition with banks and building societiesNow that banks and building societies are entering into the direct sales of properties with offers that include not only large discounts but also facilities for financing transactions property developers have been forced to react with even larger discounts. One property developer, Metrovacesa, is http://www.euroresidentes.com/Blogs/property-spain/2009/05/average-price-of-property-in-spain.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-4257850638757708961Wed, 29 Apr 2009 10:43:00 +00002009-04-29T12:44:45.487+02:00Illegal homes along the Cantabrian coast to be demolished todayThe first illegal houses which had been ordered to be demolished by the courts 15 years ago started to be knocked down today. The buildings which are located in the area La playa de La Arena de Arnuero began to be demolished at 7 am this morning. The buildings which are being knocked down belong to the second phase of the housing http://www.euroresidentes.com/Blogs/property-spain/2009/04/demolition-of-houses-on-spanish.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-409052260309543723Tue, 21 Apr 2009 10:31:00 +00002009-04-21T13:34:45.776+02:00House sales suffer their second biggest fall to date with a drop of 37.5% in FebruaryAccording to figures published by the Spanish National Institute for Statistics (INE) house sales for February 2009 suffered their second biggest fall ever recorded with a drop of 37.5%. During the month of February 34.669 transactions were recorded which is the second lowest figure on record. Moreover, these http://www.euroresidentes.com/Blogs/property-spain/2009/04/spanish-property-markets-sales-suffer.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-5355131096061265030Thu, 16 Apr 2009 07:52:00 +00002009-04-16T09:53:10.396+02:00Spanish property prices fall by 9.7% in March According to the index of Spanish Property Prices compiled by the property evaluators TINSA, the price of private housing in Spain fell by 9.7% in March compared to the same period for 2008. This means that properties are now valued at prices similar to those for 2006. If prices today are compared to the peak of the property boom in 2007 they have http://www.euroresidentes.com/Blogs/property-spain/2009/04/property-prices-in-spain-still-falling.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6161671705815846947Mon, 06 Apr 2009 09:47:00 +00002009-04-06T11:49:25.659+02:00Construction Companies ask government for help with getting rid of surplus housing stockHousing prices continue falling in Spain and although there is demand for around 320,000 new houses annually this does not seem to affect the number of surplus houses which is currently estimated to be 700,000, something which construction companies have called ‘socially inadmissible’ and have led them to callhttp://www.euroresidentes.com/Blogs/property-spain/2009/04/surplus-housing-in-spain-promotors-turn.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6146916611089063444Fri, 27 Mar 2009 09:33:00 +00002009-03-27T12:25:57.932+01:00Yesterday at a meeting of the European Parliament Spanish urban policy was condemned for the third time by European MEPs. In particular the way the Ley Estatal del Suelo (the state land law) which came into effect in 2008 has been implemented in the Valencian Region, Murcia, Castilla-La Mancha, the Balearic Islands and Andalucía where according to a project coordinated by the MEP and http://www.euroresidentes.com/Blogs/property-spain/2009/03/spanish-urban-development-policies.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-4414782404876498479Tue, 17 Mar 2009 15:25:00 +00002009-03-17T16:28:05.205+01:00Drop in sale of new housing doubled in January According to figures published by the Spanish National Institute for Statistics house sales dropped by 38.6% in January compared to the same month last year. During January only 37,931 transactions were recorded which means that the last three months have seen sales drop to historic levels although sales were up by 17% compared to the figures for http://www.euroresidentes.com/Blogs/property-spain/2009/03/drop-in-sale-of-new-housing-in-spain.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-2181164272870284440Thu, 12 Mar 2009 09:09:00 +00002009-03-12T10:10:48.466+01:00API estimates that property prices have fallen by up to 40% due to slump in salesAccording to Santiago Baena, the chairman of the association Agentes de la Propiedad Inmobiliaria de España (API), the price of property in Spain has fallen by 40%. This figure is far from the official figure of -3.2% provided by the government. Furthermore, the fall in sales has led to the closure of 50,000 Estate http://www.euroresidentes.com/Blogs/property-spain/2009/03/fall-in-value-of-spanish-property.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-8811814642495751531Tue, 10 Mar 2009 13:13:00 +00002009-03-11T14:16:37.128+01:00Banks force property owners to pay for the devaluation of their propertiesAlthough Spain’s mortgage market cannot be compared to that of the US where subprime mortgages caused the ruin of many banks, consumer organizations did complain that during the recent property boom banks in Spain were too relaxed in conceding mortgages. In fact they even suggested that some of the practices followed by http://www.euroresidentes.com/Blogs/property-spain/2009/03/some-spanish-banks-require-owners-to.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6788114499387188747Mon, 09 Mar 2009 08:41:00 +00002009-03-09T09:44:25.394+01:00UN report criticises Spanish government’s housing policy Reposessions in Spain could increase by 194% compared to 2007 according to a report compliled by Raquel Rolnik on behalf of the UN. Rolnik, presented the report yesterday in Barcelona before its presentation to the UN today. She exlpained that the increase in repossessions could mean that as many as 180,000 families might find themselves inhttp://www.euroresidentes.com/Blogs/property-spain/2009/03/spains-housing-policy-criticised-in-un.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-7585091749298386874Fri, 06 Mar 2009 09:02:00 +00002009-03-06T10:21:07.528+01:00Spanish savings banks create a joint company to sell repossessed houses and flats at reduced pricesAhorro Corporación Soluciones Inmobiliarias (ASCI) is the name of the company created by a group of savings banks in order to try and solve the problem of what to do with the increasing number of houses and flats being repossessed by people unable to meet their mortgage payments or by building http://www.euroresidentes.com/Blogs/property-spain/2009/03/resale-of-respossessed-homes-in-spain.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-6987150181381387337Fri, 20 Feb 2009 09:42:00 +00002009-02-20T10:43:58.132+01:00Price of renting property in Barcelona has frozen at 1000 euros a month The price of renting a flat in Barcelona went up by 62.9% between 2002 and 2007. However it remained almost the same last year at around 1000 euros a month. According to the department for statistics for the town hall of Barcelona the price of renting a property actually went down by 1% during the last six months of 2008. http://www.euroresidentes.com/Blogs/property-spain/2009/02/average-price-of-renting-property-in.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-3249772327230086063Fri, 13 Feb 2009 08:30:00 +00002009-02-13T09:31:41.249+01:00Property prices to fall more than 20% in 2009 and surplus housing stock estimated to reach 1.5 million According to recent figures published by the property evaluators Tinsa property prices will fall by 20% by the end of 2009 with a continual fall in prices of between 1 and 1.4 percentage points a month. From January 2008 to January 2009 property prices fell by 10.1% a figure which completed 11 http://www.euroresidentes.com/Blogs/property-spain/2009/02/estimated-drop-in-spanish-property-in.htmleuroresi@euroresidentes.com (Euroresidentes)0tag:blogger.com,1999:blog-6396278.post-3604961306610527926Tue, 10 Feb 2009 09:36:00 +00002009-02-10T10:40:44.249+01:00New mortgages conceded by banks and building societies fell by 40% in 2008 compared to 2007. According to figures released by the Bank of Spain and published in this El Mundo article, in 2008 87,074 million euros were conceded in mortgage lending compared to 145,298 million euros in 2007 and 170,297 million euros for 2006. The economic crisis meant that banks and building societies conceded fewerhttp://www.euroresidentes.com/Blogs/property-spain/2009/02/mortgages-in-spain-fall-by-40-percent.htmleuroresi@euroresidentes.com (Euroresidentes)0