How European regulation affects foreign resident’s Spanish Wills

image

The following article has been kindly supplied by Raymundo Larraín Nesbitt who I hope will become a regular legal contributor to my blog. Here we will be looking at the legal consequences that European Regulation 650/2012 is going to have on foreign resident’s Spanish Wills.

More..

Spanish Economy forecast to grow

graph1

Spain’s economic growth is set to pick up as domestic demand benefits from an improving labour market, easier financing conditions, greater confidence and lower oil prices. Net exports, by contrast, are expected to dampen growth, although this effect will gradually diminish this year and next, as Spain’s competitiveness improves. At the same time, the government deficit should continue to narrow. More..

Interanual drop in property prices for January

balancing

The average price of a built property (whether new or used) fell 2.7% in January compared with the same month of 2014, according to the latest report by Spanish appraisal company TINSA More..

Andalucia gets ambitious at FITUR

fitur

More..

Spain is recovering according to IMF

Spain has turned the corner. The recovery started in the second half of 2013 and gained strength in the first quarter of this year, with the economy growing at the fastest pace since 2008. Led by robust exports and a sharp improvement in financial market conditions, confidence has recovered and is feeding into rising private consumption and business investment. Critically, labor market trends are improving. We expect the recovery to continue over the medium term. More..

Carlton to invest billions in Spanish property

Carlton Group Inc.’s clients have earmarked 7.5 billion euros ($10 billion) to buy real estate in Spain and Portugal over the next 12 to 18 months as risks diminish and prices adjust to what buyers expect to pay.

“A combination of reforms in Spain, stabilization of sovereign debt yields and reduction of risk perception for Europe as a whole has made investment in Iberia far more attractive,” Javier Beltran, head of Spain and Portugal for the U.S.-based real estate investment bank, said in an interview. More..

Brussels gives go ahead to Spanish banks restructuring

The European Commission has approved the Spanish government’s plans to restructure four troubled banks.

Bankia, Banco de Valencia, NCG and Catalunya Banc were nationalised after experiencing heavy losses on loans to homebuyers and property developers. More..

Aifos proposes paying buyers back in 10 years’ time

The Aifos real estate group has outstanding debts of 500 million euros in amounts owed to 5,000 creditors, of which approximately 1,000 are property buyers whose homes never materialised. Now a deal has been proposed that would allow them to recover at least part of their investment. More..

Foreigners buying more in Spain

During the second quarter of 2012 the foreign market accounted for 9502 Spanish property purchases, which represents a 12 percent increase compared to the same period in 2011, and is the highest figure in the last 4 years when it stood at 11,130 property purchases.

More..

Spanish property market transparency

I have just found an interesting news blurb by Mark Stucklin on a study by Jones Lang Lasalle. Based on this study it appears that the Spanish property market is more transparent that quite a few of its fellow European countries including: Belgium, Norway Italy, Portugal and Italy are all less transparent that Spain.
More..

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.
More..

S&P says average Spanish property prices to drop further

Prices of Spanish properties could decrease a further 25 percent over the next 4 years according to Standard & Poor.
More..

Spain to keep property tax incentives

The Minister of Development, Ana Pastor, asserted today that the Government has no intention of removing tax incentives for homeownership. “They are in effect because this government wanted it” and we do not see us change our minds, she added.

More..

Banks under pressure to finish building Costa del Sol properties

The governments most recent financial reform is forcing banks to dig themselves out of a hole that they helped to make in the first place.

Mortgage default and repossessions mean that now financial institutions are the owners of around half of the 6,792 unsold new properties on the Costa del Sol (according to a recent repost by Aguirre Newman). Now following Spain’s most recent financial sector reform this stock of real estate assets and loans granted to developers are costing the banks more and more in the form of provisions. As a result they are doubling their efforts to sell, which in many cases implies first finishing off the construction work where indebted developers left off.
More..

Spanish property prices by annual salary

More..