Spain Real Estate News
In May 2012, when Benidorm government officials climbed up the InTempo - the European Union's tallest residential building still under construction - for a photo op, they had an idea. The twin towers joined at the top by a cone were to become a symbol of the post-crisis takeoff of the Spanish city of skyscrapers ...continue reading "Benidorm’s prized high-rise tower becomes a symbol of incompetence"
Some five years after the bursting of Spain’s massive property bubble, the casualty list of companies and individuals that have fallen victim to what former US Federal Reserve Chairman Alan Greenspan termed “irrational exuberance,” in this case for bricks and mortar, continues to swell. Real estate firm Reyal Urbis on Tuesday told the National Securities ...continue reading "Real Estate Company, Reyal Urbis, calls in the receivers with debt of 3.6 billion euros"
Last week, Spain’s so-called ‘bad bank’, which was set up in December 2012 to take over toxic property and land assets from the country’s troubled financial institutions in order to ‘cleanse’ their books, started promoting its first batch of properties. The new state-run bank, ‘Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria’, known ...continue reading "Spain’s ‘bad bank’ begins business"