Spain ‘needs to start building again’

The annual TINSA report on the state of the Spanish housing market has warned that major cities are seeing an upswing in new build sales, and that unless construction increases 2018 could see the market stall for lack of new homes. But Almeria continues to be the province with the greatest number of unsold homes. Of all homes built in the last seven years, 39 per cent or 13,389 new builds remain unsold. TINSA warns Continue reading Spain ‘needs to start building again’

Turre trio charged with selling warehouse as a real home

A couple from Turre, plus a female friend, are all looking at three years in jail after they were arrested for trying to sell a storeroom as a real house to the aunt of the female friend. They managed to flog the home for 177.000 euros, but when the aunt turned up she realised it was a hut in a field and the photos she’d seen were false. The hut was valued at around 20.000 Continue reading Turre trio charged with selling warehouse as a real home

Luxury homes builders start work again in Spain

From the Sunday times today: When American entrepreneur Gregory Peters planted the first palm trees in the dusty soil of La Manga Golf Club more than 43 years ago he can have had no idea that the resort — and the country around it — would be in the rough more times than Tiger Woods’s comeback. La Manga Club, a holiday resort not far from Murcia in southern Spain, encapsulates the Spanish property market, mirroring Continue reading Luxury homes builders start work again in Spain

50 families to be evicted in Roquetas because their rental contracts are fake

50 families renting flats are facing eviction in Roquetas del Mar because their homes had been rented out under false pretences. The builder of “Mirador del Sur”, a large complex in Las Colinas de Aguadulce had the homes embargoed some years ago by his bank after he failed to meet interest payments on the loans. Despite this, and whilst the legal battle was ongoing, he proceeded to rent out as many as he could, although Continue reading 50 families to be evicted in Roquetas because their rental contracts are fake

Andalucia planning to build 285,000 new council houses

Under the Junta de Andalucia’s “let’s build our way out of la crisis” plan (known officially as the Programa de Impulso a la Construcción Sostenible, “the program for the impulse of sustainable construction”) towns across Andalucia have put aside sufficient land to build a whopping 285,000 new VPO’s in the short term, and well over a million long term. VPO’S are the Spanish version of the council home, price regulated homes that are built and Continue reading Andalucia planning to build 285,000 new council houses

OAP home in Vera goes bust, pensioners out on the street

Workers arriving at the Residencia Vera Paraiso home in Vera today were stunned to be told that the centre was bankrupt and would be closing today. Their last duty today was to call round family members to tell them to pick up their elderly relatives as the electricity would be switched off at midday. Vera Paraiso has been struggling to make ends meet for the last four years says employees, some of whom are owed Continue reading OAP home in Vera goes bust, pensioners out on the street

Are Brits fleeing Spain or flooding in? Depends who you ask!

Two very contrasting stories about Almería house sales appear today in the British vs Spanish press. The Telegraph runs a piece on “End to Mediterranean dream for 90,000 Britons who left Spain last year  – British expatriates are deserting Spain in droves, according to new figures from Spain’s national statistics institute “, together with some interesting interviews from ex-expats from Arboleas, and a bit from Maura Hillen of AUAN. It’s prompted by the news that Continue reading Are Brits fleeing Spain or flooding in? Depends who you ask!

Catalonia will tax banks for having empty repossessed homes

Catalonia has announced a new law which will tax banks between 800€ and 1.650€ a year for each empty home they possess. The idea isn’t to generate cash, but instead to stimulate banks to start leasing these empty homes back to the region for social use. The Generalitat says that many people are looking to rent homes, or regional authorities are looking for social use homes, but that the banks prefer to sit on these Continue reading Catalonia will tax banks for having empty repossessed homes

The only thing colder than the wind today is the governments plan for Spanish banks (and stuff the home prices)

Get your house in order, and quick. Otherwise we’ll merge or close you. That’s the basic attitude of the government plan to stabilize the Spanish financial sector, published yesterday by Minister for Economy Luis de Guindos. The plan Guindos as it is known, will force banks to accumulate by years end 50 billion euros in cash and assets to write off losses from the real estate sector. 35 billion in cash, 15 billion in assets. Continue reading The only thing colder than the wind today is the governments plan for Spanish banks (and stuff the home prices)