Kyero’s recent report entitled – Spain will lead decline in house prices in Europe.
“According to a recent report by Standard & Poor’s, the Spanish housing market will lead the falling prices in Europe this year. They estimate that prices will drop by 7.8% in 2013, partly due to the creation of the bad bank (Sareb), and that the cumulative decline over the next four years will be around 20%.
The report shows that the European recession is still lowering housing prices in most markets, and that the other two European countries which will lead the declines this year will be the Netherlands (5.9%) and France (5%). Continue reading
Tag Archives: Spanish mortgages
Buying Property In Spain: Seven Common Problems To Watch Out For
When contemplating a purchase in Spain, you really should automatically take the same or even more precautions that you would when buying a property in your home country. A common sense approach is necessary every time. Unfortunately, this doesn’t always happen and buyers can get carried away by the dream of owning a place in the sun, especially when prices are as comparatively attractive as they are now. Continue reading
Record drop in Spanish house prices due to bank pressure
Regarding property in Spain, it has recently been announced that the Spanish banks are being forced to put all their property on the market at realistic prices to get their liquidity in order.
This is perhaps the start of the good news. At last we can see an end to the downward spiral, though it’s some time away and we are not at the foot yet. Everyone has known, but it’s never been formally acknowledged, that the Spanish banks have not valued the property to actual market level. Now they will be forced to do so, either by sale of the property or by having such a quantity of property marketed and sold at low prices that higher valuations cannot be maintained. If they had honestly declared the collapse of assets as it was, in the same way as those banks in Ireland and the UK, then the short-term loss of face would have been substantial, but the long drawn out damage that is currently being felt might not have occurred. Continue reading