Monthly Archives: July 2009

Banks will start lending when prices stop falling

July 28, 2009 – 3:26 pm
Banks in Spain will lend again when property prices stop falling

Banks in Spain will lend again when property prices stop falling

The president of the Spanish banking association, Miguel Martin, said recently that banks will start lending again when “the fear of a property price collapse” has passed. When that happens, the solvency of buyers will improve as a result, he argued.

Speaking at the recent property sector trade fair in Madrid, Martin explained that “with greater demand and stable prices, or without the fear that prices will collapse, borrowers will see their solvency and collateral improve, and credit will start flowing again.”

At the same event, José Manuel Galindo, president of the APCE developers’ association, drew attention to the role played by banks in causing Spain’s property market slump. He called on banks not to discriminate against clients buying property from developers, accusing them of unfair competition for offering better mortgage financing terms to clients who buy property from the banks

By Angela | Posted in Economy, General, Miscellaneous Articles, Property, Tenerife, Uncategorized | Tagged , , , , , , , | Comments (1)

Property prices begin to stabilise in Spain and Tenerife

July 27, 2009 – 12:49 pm
Property prices stabilising in Tenerife and Spain

Property prices stabilising in Tenerife and Spain?

Spanish property prices fell by 9.8% over 12 months to the end of May, according to the latest Spanish property price index published by Tinsa, one of Spain’s leading appraisal companies.

For what they are worth, the figures represent a slight improvement on the previous month, when prices fell by 10.1%. It could be a sign that the slide in prices is beginning to stabilise, though more months will have to pass before we can call a trend.
Once again, coastal areas were the hardest hit, thanks to the concentration of second homes in those areas. Average prices in coastal municipalities fell by 12.8%.
House prices in the suburbs fell by 9.6%, and by 9.8% in The Balearics and The Canaries.
The problem with Tinsa’s figures is that, like the government’s figures, they bear little relation to the real world, where prices are down by at least 20% to 30% and again this may be the best time for those with cash to grab that bargain property in sunny Tenerife.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , | Comments (0)

British Expats gain better quality of life and are financially better off

July 26, 2009 – 1:09 pm
British Expats enjoy a better quality of life in Tenerife

British Expats enjoy a better quality of life in Tenerife

British expats who have moved abroad are gaining a better quality of life and becoming financially better off.

That’s the view found by the latest NatWest International Personal Banking Quality of Life Index, carried out in conjunction with the Centre for Future Studies.

They surveyed British expatriates from across the world and discovered that, despite the global economic downturn, 98 per cent said they had made a good decision when they chose to move abroad.

For 62 per cent of people, the move abroad was triggered by a feeling of dissatisfaction at home. Life abroad is better than expected for 86 per cent, and 92 per cent claim to be happier living abroad than they were back home in the UK. Encouraging news for anyone thinking about doing the same.

It’s good news on the financial front too, as 87 per cent of expats said they believed they were better off now, despite the recession. Sixty three per cent of people had left the UK with less than £5,000 in savings, but working abroad doesn’t seem to have posed too much of a problem – seven out of 10 people now earn between £50,000 and £85,000 per year.

The research also looked at the countries offering the best quality of life. The number one spot was taken by New Zealand, which was rated top-notch for its low cost of living, low property prices and favourable tax regime.

Spain and Tenerife in particular are still very popular because of the great climate, particularly Tenerife and the quantity, price  and ease of flights from and to the UK

By Angela | Posted in General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , | Comments (1)