Banks Bad Debts Rise in Spain
Late payment of the loans granted by banks, funds and cooperatives operating in Spain to businesses and individuals reached 4% in February, a level not reached for over twelve years, specifically since November 1996.
According to data released today by the Bank of Spain, the rate of default in February is more than triple the 1.04% [...]
Fall in Spanish Mortgage Lending
The number of mortgaged homes in January fell 43.5% compared to same month of 2008, to 53,017, while the borrowed capital for these transactions amounted to 6,472.9 million euros, representing a decrease of 51 7%.
According to the National Statistics Institute (INE), the average amount of mortgages on housing, fell for twelfth consecutive [...]
Looking to Buy in Spain?
Those who want to live in Spain should buy now as there are plenty of bargains, but those looking to invest should wait.
There are currently many property bargains on the market in Spain as people become desperate to sell their homes however, according to an industry expert, although now is an ideal time to buy [...]
