Formula 1 fans were able to tab into another great race the weekend just gone with the Spanish Grand Prix seeing another strong Ferrari win. This time the boys with toys were trading podium places from the last race in Bahrain with Kimi Raikonnen bringing home another win for the red team.

With a 3.2 sec gap, the Finn cleared the finish line ahead of fellow Ferrari driver Felipe Massa who snuck across the line in front of young English gun Hamilton. It looks like the boys in red are clearly on fire right now.

1. Kimi Raikkonen (Ferrari)
2. Felipe Massa (Ferrari)
3. Lewis Hamilton

This leaves the Ferrari team in charge with a total of 47 points so far, ahead of rival BMW Sauber with 35 points. Time will tell on whether the red team can hold their current fire when Turkey gears up on 11/05/08.

Despite the clear win of the Ferrari team, the competition is hotting up now with another six teams to score points. Honda was able to score their first points this year, while some of the other teams had to retire due to accident damage.

One of the unlucky ones was Spanish darling and favourite Alonso who qualified second in pole position after Saturday’s qualification rounds. His race ended soon after it begun due to a burnt out engine which is a little bit like the current property market situation in Spain.

On the Spanish property front, things don’t look as rosy right now if we can believe current reports all over. Apparently an imminent Spanish property crash might be on the horizon due to a massive oversupply of empty properties and the global property bubble burst.

Even the fast action of the Spanish government of implementing new tax laws to counteract the property gloom doesn’t seem to put investors minds at ease right now.

Mortgage approvals have fallen by some 23 percent since January this year and house prices have fallen in 13 out of the 62 regions.

But not everything is gloomy. In other regions of Spain, house prices have actually risen. One thing is for sure, despite negative reports, investors who don’t need to worry about rising bank rates, mortgages and other money related issues will be laughing all the way to the bank as many Spanish properties are actually very affordable since the market is down.

Properties on the favourable Costa Blanca are available for just over 100,000 Euro’s. Many brand new apartments have been drastically reduced which gives the investor way more choices.

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