The danger of generalised property article

After posting the article on S&P and their property forecast I had someone contacting me panicking that these articles would be detrimental to Costa del Sol real estate. Although I can see why a negative article, would be viewed… well negatively, there are also reasons why it should be written about.
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SPANISH BANK GUARANTEE PETITION

Dear fellow petitioners,
You may remember that 17 months ago I submitted a petition to the Governor of the Bank of Spain with regard to the non-compliance of the various Spanish banks who were not honouring the guarantees given by them to protect deposits paid by purchasers of off-plan properties. You very kindly supported this petition and were signatories to it. The petition was briefly brushed aside by the Bank of Spain’s legal representative who in so many words suggested we deal with the matter through the courts. This in spite of the public pronouncements made by the Governor himself when explaining his powers to deal with recalcitrant banks.
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Spanish property sales up 7pc in Q1

Just found an article by Mark Stucklin reporting that it appears that the Spanish property market might have bottomed out. Although Andalucia still is down, as I reported recently, it is good to see that there has been a pick up in resale properties and the drop in due to lowering new build sales. Anyway, please find the article below.

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Costa del Sol property downward lurch or stagnation

In the short to medium term it appears that Spain’s property market is not set to rebound as many with a vested interest have been claiming. With high unemployment and lack of credit a general improvement in property transactions is still a way off. Even though the INE property statistics do appear to showing that the market has bottomed.

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Spain is Not Close to Bankruptcy: Amalgamation Should Not Mean Contagion

The downgrading of Spain was done for strange reasons. Spain’s has a debt to GDP of 90% (against 144% of for Greece) and a budget deficit of 7% (against Greece’s 14%). More importantly, the spread over German bunds is 250 bps against 700bps. With an AA rating (compared to Greece’s BB), even after the recent downgrading from AAA, Spanish creditworthiness is strong.

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Spanish housing review by RICS

The housing market downturn continued during 2009. There was some evidence that the decline might be bottoming out towards the end of the year, though the housing market and the wider economy still face substantial problems. So, it is by no means certain that the end of the housing market downturn has actually been reached.

The adverse market conditions have been feeding into official price indices. There is uncertainty and debate about the extent of the price falls that have occurred, especially in new build. As a result, it is worth spending a little more time than usual in the other country chapters to go through the different indices.
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Spain’s landlords add to rising state debt

More than half of Spain’s landlords are dodging taxes as the rental market expands, depriving the financially strapped government of more revenue each year.
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MEP presses Zapatero on demolition of coastal houses in Spain

UKIP MEP Marta Andreasen today held Spanish President Jose Luis Zapatero to account over the scandal of British citizens who found their Spanish holiday homes demolished because of alleged breaches of planning law.
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Spain is not Florida (part 2)

Sometimes the comment facilities provided by blogs work wonders. We’ll first deal with a few objections raised about the methodology, data or conclusions of the previous post. Then we’ll get to the crux of the matter – how these cost-of-carry figures change, or fail to, as seen by banks in the event of bank repossession in Spain and the United States.
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10 Tips To Help Sell Your Spanish Property In A Crisis

I have just found these ten tips on how to help sell your property, written by Nick Snelling, the author of “How to sell your Spanish property in a Crisis”. I have included links below.

1. Treat the selling of your Spanish property with the same seriousness and commitment that you would a job of work
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Pseudo-experts and Spanish property

At the beginning of August I saw an article in Money Week discussing the Spanish property market. Now for those of you that might not be familiar with the site, it looks primarily at investments; property, stocks, etc… Anyway, this respectable site wrote about the Spanish property market, which if you follow my blog, as an estate agent on the Costa del Sol could only be of interest to me.
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Costa del Despair? Really?

It looks like the media, in this case the mail are trying to label the Costa del Sol with a new nickname. Previously known as the Costa del Crime, followed by the Costa del Golf, now the Mail is trying for the Costa del Despair. Quite catchy but not as impressive at the Costa da Morte, Coast of death (official name) that is found in the north of Spain.

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SPANISH PROPERTY SCANDAL PETITION

This month, a petition will be delivered to Number 10, requesting that Gordon Brown plays his part in helping solve some of the issues involving Spanish real estate and the UK investor.
The document asks that he lodge’s a complaint on behalf of British citizens who have become victims of Spanish property scandals and abuses. It also asks that Britain involve the EU.

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Aifos blog

Just over a month ago I wrote an article about the infamous Spanish developer Aifos and how 2 suppliers that were owed large sums of money had asked the courts in Malaga to put the company into administration.

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A petition against Spanish property scandals

Further to the petition I recently mentioned in an article I would like to bring the following petition to everyone’s attention.

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