Spain property market´s strong recovery

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THE property market in Spain is recovering, government data suggests. With 491,000, the sale of properties in Spain saw a 5.9 per cent year-on-year increase in 2010, latest government figures show. These figures from the Public Works Ministry finally break the downward trend that has been experienced in the past three years.
In the fourth quarter of 2010 year-on-year sales increased by 14.2 per cent, almost matching mid 2008 figures, the last time these were on the rise.
Sales to foreign residents last year increase by 20.8 per cent in 2010 against 2009.

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Is Summer finally here

It was a wet start to the Month of May here in Marbella and the weather forecast gave the impression of a wet 10 days or so. But today is sunny, the weather forecast seems to have changed yet again and its a lovely 25 degrees on the beach in central Marbella.( lets make the most of it)

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MAY CROSSES

MAY CROSSES

» The Cruces de Mayo festival is held during the first half of May, and flower-decked crosses adorn the streets of many towns of villages.

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Marbella Property News

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Foreign buyers throw a lifeline to the Costa del Sol’s real estate market

It will take a long time for the real estate market in southern Spain to recover from the bursting of the bubble, although the good news is that there is light at the end of the tunnel. Developers and estate agents are now optimistically clinging to a lifeline that has come from abroad. The storm of the financial crisis has relented for the British, Germans, Scandinavians or Russians who are once again showing an interest in the Costa del Sol, and mainly Marbella, attracted by reductions (of up to 30 per cent in some cases) in the asking prices of properties.

The statistics confirm this trend noted by the industry. According to the latest property sales report published by the Ministry of Development, in the last three months of 2010, some 6,457 transactions were made in the province of Malaga, and of those 905 (14 per cent) involved buyers from outside Spain. This is not only one of the best results in Spain (behind only Alicante) but also reveals an increase of 31 per cent on the previous quarter.

 

 

source - SURinenglish

 

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Qatar promises 3 billion Euros

Qatar promises 3 billion Euros for troubled Spanish savings banks and investment in Spanish businesses

José Luis Rodríguez Zapatero and Hamad bin Jaber Al Thani in Doha - EFE

Qatar is to invest 300 million € in recapitalising Spanish savings banks in a deal confirmed by the Spanish Prime Minister who is visiting the emirate as part of a North African and Middle East tour. The announcement was made between Zapatero and the Prime Minister of the emirate, Hamad bin Jassim.


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UK House prices tumble

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Experts say there is little prospect of the market picking up for a while

The average cost of a house in England and Wales now stands at £153,600 - 2.2% lower than January 2010.
Both buyers and sellers are staying away from the market as uncertainty lingers over interest rates this year.
Estate agents have reported a decrease of almost 10% in the amount of people registering on their book, contributing to the 26% drop in demand in the last six months

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China Continues To Invest In Spain

China will continue to buy Spanish debt - Li Keqiang

(Reuters) - Chinese officials have faith in Spain's financial system and will continue to take part in government debt auctions, China's Vice Premier Li Keqiang wrote in an editorial in El Pais on Monday.
"China is a responsible, long-term investor in the European financial market and particularly in Spain, and we have confidence in the Spanish financial market, which has meant the acquisition of its public debt, something which we will continue to do in the future," Li wrote.
Spain has come under increasing pressure from international debt markets on concerns it may be forced to follow Greece and Ireland and seek an EU/IMF bailout, but while bond yields have risen, demand for Spanish debt remains solid.
Around 60 percent of demand for Spanish debt has come from non-resident investors, according to a Reuters source, and Asian interest has risen to a reported 9 percent at recent auctions.
The vice premier will begin a three-day visit to Spain on Tuesday before visiting the United Kingdom and Germany.
Li said China applauded austerity measures and structural reforms passed by Spain's Socialist government last year aimed at calming market concerns over its public deficit.
"China supports the measures adopted by Spain to readjust its economy, with a strong conviction that it will achieve general economic recovery," he wrote.

Source: Reuters

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