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Posts Tagged ‘spanish property news’

Spanish Banks UNABLE to Sell Toxic Real Estate Assets

by K.Campbell-Overseas-Property-Mall on Thursday, November 24th, 2011 in European Property, Spanish Property

Spain’s markets are in a fix, and there seems to be no creditable solution in sight. In fact, there is no credit. Lending activity in the country has slowed down dramatically, having experienced its greatest fall this year (a record 2.64% decline till September). The property markets gone bust, and looks to have taken all the air out of Europe’s fourth largest economy. Borrowers keep defaulting, and homes foreclosing. The only thing that’s left soaring here is the national unemployment rate (22.6% at present vs. 7.9% in summer 2009).

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Spanish Government in Court Over Land Grab Laws

by OP-Mall on Wednesday, August 27th, 2008 in European Property, Spanish Property

construction in tarifa, spain

British and other overseas expats who have lost their Spanish homes to a notorious and ridiculous ‘land grab’ law now have some hope in retrieving their properties. The European commission has now taken Madrid to the European Court of Justice over alleged infringements of European competition regulations governing the public works contracts in Spain.

The law allowed Spain’s developers to expropriate rural land from property owners if the developers’ could persuade local authorities that the rural land acquired were suitable for “urban development”.

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Spanish Approve Tax Cuts To Counteract Property Gloom

by OP-Mall on Tuesday, April 22nd, 2008 in Spanish Property

The Spanish government has acted fast to counteract the worldwide property gloom that seems to have hit us like a storm in the last few weeks. A new law was passed on April 18th that cuts all workers and pensioners tax bill by 400 euro, taken from a budget surplus to help counteract the slumping housing market.

18 billion euros has been approved with immediate effect to be funnelled back to the Spanish residents. 10 billion for this year and the remaining 8 billion euros next year.

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