Spanish banks face deeper losses on 176 billion euros of real-estate assets
"Spanish banks face deeper losses on 176 billion euros of real-estate assets. "You have to remove any kind of shadow of doubt over the valuation that you have of these assets in your balance sheet,” Luis de Guindos, tipped by newspapers as a contender for finance minister in a new People’s Party government formed by Rajoy, said in an interview.
De Guindos said he favored stricter rules on how banks account for depreciated land values.
...continue reading "Spain Set to Clear Property Debt"
The Spanish State Secretary for Housing showcases property at the Property Investor Show & OPP Live 2011
A delegation comprising ten or so Spanish property developers and real estate departments of financial entities showcased a sample of the properties available at a technical open-day in London to promote Spanish real estate in the United Kingdom.
The event was organised by the Ministry of Public Works in collaboration with the Spanish Institute for Foreign Trade (Spanish acronym: ICEX) and held within the framework of the Property Investor Show & OPP Live 2011, one of the main real estate events held in the United Kingdom.
...continue reading "Spain Shows Property in London Expo"
Property confidence increases in Portugal
People interested in investing in European property should consider Portuguese property after research showed that property confidence in the country had improved.
The RICS/Ci Portuguese Housing Market Survey revealed that both the National Activity and National Confidence indices improve in July and weakening demand remains the main factor weighing down on Portuguese prices. This weakening demand is one reason why Portuguese property could be available at knock-down prices.