The Spanish property recovery maintains its upward trend with residential property sales growing by 9.9% in February, according to the Spanish Notaries.
The number of residential property sales reached 38,176 in February, despite there being one less day in the month than last year, representing the eighth consecutive month of rises. Read more »
Spanish developer Neinor Homes saw shares jump by 9% on their first day of trading, marking a “milestone for the recovery of the real estate sector in Spain”, says Juan Velayos, Neinor’s chief executive.
Private US equity group,Lone Star bought Neinor Homes which formed part of Kutxabank, a savings bank based in the Basque country, in 2014 and retains a 40% share in the company, reports the Financial Times. Read more »
The Euribor reached its lowest monthly level ever in March and as the downward trend continues Spanish property sales keep on rising.
The Euribor, a rate used to calculate most Spanish mortgage repayments, fell to -0.11% in March, the lowest amount in any one month since records began, stunning analysts whom previously declared that it couldn’t possibly fall any further. Read more »
Confidence and activity has returned to Spain’s economy leading to an upgrade in the country’s 2017 and 2018 economic forecast.
In 2016 Spain’s GDP grew by a total of 3.2% and with early indications showing no loss of momentum at the start of the year, leading research departments are making upward revisions to their forecasts. Read more »
British tourist spending in Spain rose by 25% in January to €762 million, according to the latest government data.
Despite Brexit and a 10% decline in the pound, compared with January 2016, the Brits are once again topping the foreign tourist spending poll by accounting for 17.9% of the total €4,252 million spent in Spain in the first month of the year. Read more »
The Spanish property market recovery continues its upward trend with prices rising by 1.8% in February, according to a new report by leading valuation firm Tinsa.
In the last 12 months year-on-year increases have been observed on all but one occasion; February represented the most significant increase within that period. Read more »
Holiday home property owners in Malaga and across the Costa del Sol are setting a good example by officially registering more than 9,000 tourist homes, more than any other place in the region.
Last May the government put in place new rules and regulations for holiday home owners following an outcry from the hotel industry which claimed holiday homes were being rented out without owners declaring it to the tax office. Read more »
Golf tourism is expected to boom this year as the Costa del Sol gears up to host dozens of key golfing tournaments.
The Andalusia Valderrama Masters, Match Play Andalucia Circuit, and the Women’s Spanish Open are all taking place across the Costa del Sol in 2017, along with the European Circuit, one of the most important tours on the PGA calendar. Read more »