Euribor, the base rate used for most mortgages in Spain came in at -0.19 in April. The figure is a fraction higher than in March but still 59.7% lower than April of 2017, meaning borrowers with annually resetting Spanish mortgages will see monthly payments fall by around €3.6 for a typical 20-year €120,000 loan.Euribor rates fell into deep negative territory every month between September 2016 and December 2017 and have remained unchanged ... [Read More]
Spanish property prices set to rise by 6.1% in 2018
Property prices in Spain are expected to increase by 6.1% in 2018, according to a new forecast by the IPE. The National Statistics Institute's housing price index shows a year-on-year price rise of 6.7% in 2017, the largest increase since the index was established in 2007.Spanish property prices dropped by up to 50% following the financial crash in 2008 and have seen four years of consecutive growth in the last four years. Prices have now ... [Read More]
Investments in Spanish hotel sector rose by 83% in 2017
A total of 3.75 billion euros worth of investments were poured into the hotel sector in Spain in 2017. The figure is an exponential 83% increase to the year before and reflects the incredible draw the country has as a year-round holiday destination.According to recent data by the Spanish Hotel Association, the regions that gained the most attention from investors in 2017 were the Canary Islands with a 21% increase in investment, the ... [Read More]
Spanish property developer Metrovacesa announces intention to float on Spanish stock exchange
Metrovacesa, a Spanish residential developer announced plans this week to re-list on the stock market, according to a recent Reuters report.The news confirms renewed confidence in the Spanish property market, with a significant resurgence in foreign investment and thriving residential construction levels across the country.Metrovacesa has a net asset value of 2.7 billion euros and has already appointed banks for its IPO. The company's ... [Read More]
Inditex owner Amancio Ortega invests €100 million into Spanish real estate business
Fashion magnate, Amancio Ortega recently invested up to 100 million euros into the Spanish arm of Pontegadea España, the founder of the Inditex fashion empire's real estate business.On par with the likes of billionaires such as Bill Gates and Carlos Slim, Ortega owns Zara among other recognised high street brands and is recognised as one of the world's wealthiest men. According to Spain's Central Mercantile Register, Ortega has recently ... [Read More]
