Spain Real Estate News
Spanish Housing Market increased 7 per cent in property inquiries from international buyers
Property Wire Investors publishes an interesting article on the Spanish Housing Market:
"Infrastructure revitalization and a generous government tax incentive is stoking prices and sales in Spain’s property market according to research provided by real estate portal Kyero.com and Spanish development firm Taylor Wimpey España.
Asia Stocks Rise as Germany, France Pledge Support for Banks Amid Crisis
"Asian stocks rose as the heads of Europe’s two biggest economies pledged to support banks amid a debt crisis that threatens global growth. Shares of Chinese companies fell on speculation the country will maintain tighter monetary policy.
Samsung Electronics Co., the world’s second-biggest maker of mobile phones, rose 1.6 percent in Seoul and Hanjin Heavy Industries & Construction Co., which gets 45 percent of its revenue overseas, surged 15 percent. China Overseas Land & Investment fell 3.5 percent on concern the nation’s housing market is weakening.
New mortgages at lowest level in 8 years
Reuters publishes an interesting article on the Spanish Housing market today:
"The slump in Spain's property market showed no sign of improving in July as mortgage approvals fell to their lowest in at least eight years, though the beleaguered economy saw some respite from a solid tourist season, official data showed on Thursday.
...continue reading "Spain Housing Slump Shows No Sign of Abating, Tourism Rises"
Is it the time to buy overseas?
Interesting article examines housing market possible recovery.
Now is the time to buy overseas property. This has been a popular line for the last 2 years, one that was harder than many thought it would be to sell in 2009, but has been getting a lot easier for the last 12-18 months. With many reports of markets bottoming, could 2012 be the first year of the real global property recovery? ...continue reading "Housing Market will Recover in 2012"
China’s property market at risk
News that government measures to cool China’s sizzling property market were beginning to work have no doubt been a relief to many investors in the country.
Property, afterall, is particularly important in China, with property construction alone accounting for 15 per cent of China’s gross domestic product. But a report in Monday’s FTfm says it is not time to stop worrying yet.
Edward Chancellor, a member of the asset allocation team at investment manager GMO, looks at the parallels between the Spanish housing market bubble and the bubbles he thinks are still inflating in the China, Hong Kong and Singapore property markets.
The three respective authorities have all instituted measures to cool their property markets. Beijing has gone furthest. Over the past couple of years, the People’s Bank of China has raised bank reserve requirements nine times.
Chinese banks have been ordered to restrict lending to real estate developers. Households face a limit on the number of properties they can acquire. Beijing also plans to provide some 36m affordable homes over the next five years.
The trouble is that none of these measures will work, according to Chancellor. He points out that during Spain’s housing boom there was relatively low loan-to-values on mortgages. Spanish banks also kept mortgages on their balance sheets and there was no subprime.
Nothing the government did stopped the great Iberian housing bubble from inflating. Spanish home prices more than doubled between 2001 and 2006. Housing construction soared. The lending boom actually increased in intensity after the introduction of counter-cyclical capital rules.
[youtube]http://www.youtube.com/watch?v=YcHlUZOs-5s[/youtube]
Hong Kong, Brazil or France are in the top list for real estate investment
Even as the value of residential real estate around the developed world continued its multi-year plunge in the second quarter, some countries bucked the trend. In seven national markets, housing values rose by more than 5 per cent in the second quarter compared to the second quarter of 2010. In two countries, prices rose nearly 20 per cent.
Data from the Global Property Guide for second quarter real estate values around the world reveals values in the U.S. dropped by 9.05 per cent in the period. Predictably, Greece, Spain, Ireland, and Portugal are the other nations with deep housing value problems. In Greece, property values fell 9.9 per cent in the second quarter of this year from the second quarter of 2010. That drop was 15 per cent in Ireland. Each of these European nations has deep deficit problems and has instituted austerity packages, which have tended to hurt growth and employment. Also, each is in the process of being financially bailed out by other nations in the EU.
Among the top countries to invest are: Hong Kong, Brazil, Thailand, Taiwan, Norway, Singapore, France or Switzerland.
Read complete list here: 247wallst.com