Spanish Property Prices to Drop to Levels of 1989 says UBS

According to a report elaborated by UBS CIO Wealth Management, property prices in Spain are to continue dropping until they reach levels of 1989. The report was sent out to its private banking clients and stated that neither construction nor tourism,...

La Caixa to Sell off 12,000 Properties for 1,500 Million Euros

The Spanish savings bank La Caixa has put up for sale a package of 12,000 properties held by its Servihabitat company. Morgan & Stanley have been appointed to sell Servihabitat Gestión Inmobiliaria S.L., the company that manages the sale of the...

Spanish Property Sales Continue Collapsing

Spanish property sales have dropped 30.3% and 40.8% in the first and second trimester of the year, respectively. Existing home sales fell 6.3% in the third quarter compared to the same period in 2010 and reached 75,462 transactions, the second lowest...

Marbella Legalizes Two GIL-era Developments

Marbella has legalized two developments which had been built illegaly during the GIL epoch. A total of 225 homes were legalized under the new PGOU plan. In exchange, developers had agreed to give part of the land to the government and paid 1.3 million...

Spanish Property Prices Need to Drop 27%, says Banif

The private banking arm of of Santander, Banif has suggested that Spanish property prices have still not dropped enough. Property prices need to fall by an additional 27% in order for the oversupply to be absorbed and in order to reactivate the property...

Property Market Needs Six Years to Absorb Unsold Homes

According to the latest annual report of the Spanish Property market 2010, presented by the consulting firm RR. de Acuña & Asociados, the Spanish property market will not be in balance until 2015. “There is a stock of 1.5 million unsold properties,”...

Advent Pays 100 Million for Spanish Property Valuation firm Tinsa

Advent International announced Wednesday that it had acquired a 94.5% stake in the Spanish property valuation business Tinsa. The transaction is valued at 100 million euros and has received approval by the Bank of Spain. Tinsa expects to turn out over...

Spanish Property Sales Fall 4.1% in September

Existing home sales fell 4.1% year on year in September, breaking the upward trend during the first eight months of the year, according to data from the National Statistics Institute (INE). According to the statistics of transfers of property rights published...

Property prices declined by 18% since the beginning of the crisis

The price of housing in Spain has fallen by around 18 per cent since the beginning of the crisis around December 2007. According to recently released figures from the appraiser Tinsa, coastal areas especially the Costa del Sol and the Costa Blanca have...

Spanish Property Prices Still Decreasing

As the sale of Spanish property registered an increase of 10.7 per cent in the first half of 2010 compared with the same period in 2009, the property prices have seen a drop of 4.3 per cent in July compared to the same month in 2009. The Spanish Property...