Latest Spanish property price index from Housing Ministry down 3.7pc
Spanish property prices fell just 3.7% over 12 months to the end of June, say the latest figures from the Ministry of Housing. The Ministry’s figures are so detached from reality they can usually be ignored, but this time I decided to delve, a bit deeper and found out that we can learn something from them, even if they are not the gospel truth.
Spanish real estate market expands in March
The Spanish real estate market expanded in March, though less vigorously than in February, according to the latest house sale figures from the National Institute of Statistics (INE). Read more
British buyers take legal action against promoter of Corvera Golf and Country Club
A group of 10 British buyers is taking legal action against the promoter of Corvera Golf and Country Club in Murcia, arguing breach of contract and demanding their money back. Read more
The Plusvalia Property Tax in Spain Often Catches Buyers and Vendors Unawares
Anyone wishing to buy or sell property in Spain needs to know about a type of local or municipal capital gains tax on property in Spain – known as the Plusvalía. This tax often catches buyers and vendors unawares. Read more
Non-resident vendors get hit by Spanish capital gains tax retention on property sales
When a non-resident sells property in Spain, they buyer is obliged to retain 3% of the price and pay it to the tax authorities to cover the vendor’s tax liabilities. If the vendor is due a refund after the tax has been paid, it can take years to get money back. Read more
Polaris World dodges bankruptcy
Spanish holiday-home promoter Polaris World has narrowly avoided bankruptcy proceedings after reaching an agreement with banks at the eleventh hour. Read more
Real estate asking prices down 0.9pc in first 3 months
Real estate asking prices for homes already lived in fell just 0.9% over 3 months to the end of March, according to data collected by Spanis property portal Idealista.com. Read more
Cajas and the Spanish real estate market
There was an interesting piece yesterday in the FT about the liquidity problems facing Spain’s regional savings banks, or cajas. The article didn’t go into it, but this has big implications for the Spanish real estate market. Read more
Marbella real estate market back from the dead
Marbella’s real estate market has been in a funk for years, starting long before the real estate crash, thanks to the greed and corruption of local politicians and some developers. But finally, some light at the end of the tunnel, argues Ángeles Muñoz, Marbella’s lady Mayor, with figures in hand to show the best real estate sales figures in 4 years. Read more
Spanish property glut breaks down into 3 categories
With a glut of 1 million homes, Spanish house prices might have more room to fall, and that price adjustments could take another “two or three years to play out,” reports the FT. No news there, but it was interesting to read how Spain’s real estate glut can be divided into 3 categories with very different sales prospects. Read more