Articles tagged as "Banks in Spain"

Articles tagged as "Banks in Spain" : 8 articles

Spanish banks predict house value increases in region of 4-7% annually

Some banks believe Spanish home values could increase as much as 7% annually between now and 2020.

Some banks believe Spanish home values could increase as much as 7% annually between now and 2020.

Forecasting Spain’s property market is perhaps easier today than it was, say, a decade ago, when very few people foresaw the global economic crash on the horizon.

But even with almost three years of back data pointing towards steady and continued house price growth, it still feels a little like tempting fate to suggest further increases are on the cards…

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Author: 07/09/2017 [0] Comments 

A father, European, aged between 40-50: profile of Spain’s most likely property investor

The typical foreign investor in Spanish property is male, aged 40-50, with a family, according to a recent survey.

The typical foreign investor in Spanish property is male, aged 40-50, with a family, according to a recent survey.

The most common profile for foreign investors in Spanish property is middle-aged fathers from northern European countries, according to a recent survey by Iberia Real Estate.

The real estate franchise recently analysed its data and found that men with families, aged between 40 and 50, and largely hailing from the UK, Ireland, Germany and the Scandinavian countries were most interested in purchasing property in Spain…

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Author: 23/09/2016 [0] Comments 

19% increase in Spanish mortgage activity in first half of year

yunquera-malaga-1

Property sales in Spain are at a five-year high, with the average mortgage value also increasing steadily.

Data from Spain’s National Statistics Institute (INE) has revealed that, up to June 30 2016, a total of 146,605 mortgages have been registered this year – a 19% increase in the space of a year…

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Author: 05/09/2016 [0] Comments 

European Central Bank injects cash into Spain’s thriving mortgage market

Mortgage rates, approvals and customer confidence are all improving, prompting an injection of cash from the ECB.

Growing competition among Spanish banks, a recovering economy and a confident domestic market have convinced the European Central Bank (ECB) to boost Spain’s mortgage sector as the property market returns to strength…

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Author: 21/09/2015 [0] Comments 

Spanish property index shows 5.12% price rise over past 12 months

Spain’s property market is approaching a perfect storm of rising values and rising transactions.

Latest data from Spain’s Property Registrars has revealed that property prices have risen by an average of 5.12 per cent in the 12 months up to the end of June.

The Registrars’ latest index report also revealed that prices rose 2.65 per cent in the second quarter of the year compared to the first quarter. What’s more, compared to the second quarter in 2014 (the three months between April 1 and June 30), prices are up by 2.8 per cent year-over-year

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Author: 10/09/2015 [0] Comments 

Mortgage relief on the way for 40,000 Spanish homeowners

40,000 homeowners with Blackstone as their mortgage provider will have more flexibility under the new plans.

The world’s largest private equity firm Blackstone Group – which holds the mortgages of around 40,000 homeowners in Spain – has announced plans to offer debt relief to any of its customers struggling with repayments…

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Author: 08/07/2015 [0] Comments 

Vodafone opts for Spain launch of its mobile wallet before global rollout

The groundbreaking Vodafone Mobile Wallet will be launched in Spain

You can’t always count on Spain to lead the technical revolution, but occasionally the country’s appetite for gadgetry will surprise you. British phone giants Vodafone evidently think that the Spanish market is a good testing ground for innovation, as they have just announced that their groundbreaking mobile payments system SmartPass will be launched in Spain before a global rollout later this year…

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Author: 10/09/2013 [0] Comments 

Bank bailout step in right direction for Spain’s economy

Banco de Valencia

Banco de Valencia is due to be sold to CaixaBank

Spain’s plans to restructure its four weakest banks have this week been approved by the European Commission, a move that clears the way for the beleaguered banks to receive almost €37bn in fresh eurozone bailout money. The four banks – Catalunya Banc, NCG Banco, BFA-Bankia and Banco de Valencia – were nationalised a couple of years ago following the deflation of Spain’s property bubble, a move that saved them from extinction but saddled them with huge losses lingering on their loan books. Banco de Valencia is due to be sold to CaixaBank, while it is hoped that the other three will be able to become viable in the long term by 2017. The news will help stabilise Spain’s nervy economy, and should help satisfy credit rating agencies that the country is on the right road to recovery. However, independent stress tests earlier in the year found that the Spanish banking sector still had a shortfall of approximately €59bn, although the country’s eurozone partners have agreed to a €100bn bailout once Spain’s restructuring plans are approved. As part of the restructuring, the four struggling banks will be prohibited from lending within the real estate sector, with any real estate assets currently owned by the banks being transferred to an asset management company. Such a move could have positive ramifications for the Spanish property industry, injecting added confidence into the market by ringfencing the activities and assets of the ‘bad banks’. The International Monetary Fund (IMF) predicts that this nationwide buy-up of toxic real estate assets will likely lead to lower property prices throughout Spain. The IMF has also praised Spain’s efforts to emerge from its most recent banking crisis, but has warned that the restructuring process will be lengthy. “Although the outlook remains broadly consistent with the baseline scenario used in the bank stress tests, risks around the baseline remain,” the IMF said.

Author: 30/11/2012 [0] Comments 
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