Spain Real Estate News
The Catalan government has approved a draft bill on taxing financial institutions in the region for leaving housing they own empty for more than two years. The bill will be sent to the regional assembly for approval before the summer and will take effect from the start of next year. The levy will range from ...continue reading "Catalonia to Tax Banks for Keeping Properties Empty"
House prices in Spain will continue to fall during 2014 and bottom out in 2015 when the demand for housing is likely to improve, according to a new analysis of the nation’s residential real estate market. The report from Fitch Ratings points out that according to figures from the Housing Department the Spanish house price ...continue reading "House Prices Keep Falling in 2014"
Just a day after Economy Minister Luis de Guindos said that the housing market was beginning to touch bottom in a recovery that is gathering pace, the National Statistics Institute (INE) on Tuesday announced that home sales plunged in November of last year to their second-lowest level since the crisis began around the start of ...continue reading "Bad news for home sales in Spain, despite the fall in prices"
Five years after Spain's property bubble burst, hundreds of thousands of new and unfinished properties remain unsold throughout the country. Meanwhile, some of the biggest companies in the world have had to eat humble pie, reduce their size, and in some cases have simply been swept away. Slowly, and reluctantly, the property sector is facing ...continue reading "Property Market: The Challenges Facing Spain’s Toxic Bank"
Spain’s bad bank failed to attract high enough bids in its first sale of commercial real estate and will cut the size of the portfolio being offered to make it easier to sell, Bloomberg quoted three people familiar with the matter as saying on Friday. The bad bank, known as Sareb, received more than 30 ...continue reading "Spanish bad bank reorders property sale as bids fall short: sources"