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The European Union’s highest court struck down parts of Spanish mortgage law, saying they lead to unfair evictions of some consumers challenging the terms of their home loans.
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Idealista.com’s pitch to Spaniards in their 20s still living with mom and dad is simple: Rent your own place or end up having sex in the back of a cramped car for years to come.
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Spanish home prices are poised to fall the most on record this year, leaving one in four homeowners owing more than their properties are worth, as the government forces banks to sell real-estate holdings.
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Spanish home sales rose 12.8 percent in October from a year earlier as buyers sought to take advantage of a lower tax rate and a rebate on home purchases before they’re phased out at the end of the year.
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Spain’s cabinet is likely to approve measures today making it easier for landlords to evict non- paying tenants as the government tries to encourage investment in rental property.
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A decree that forces Spanish banks to make provisions for losses related to real estate had the “immediate´´ effect of lowering asking prices for residential properties, according to a study by Idealista.com, Spain´s largest property website.
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Spanish home prices fell the most on record in the second quarter as the euro area’s fourth- largest economy shrank and a reduction in mortgage lending crimped demand for property.
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Spanish home prices posted the biggest annual decline on record in the first quarter as the euro area’s fourth-largest economy sank deeper into recession and banks reined in lending.
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Prices for Spanish homes fell 3.4 percent in the first quarter from the previous three months as the euro area’s fourth-largest economy shrank and reduced mortgage lending crimped demand, according to Idealista.com.
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Spanish home prices fell the most on record in the fourth quarter as the euro area’s fourth- largest economy shrank and a reduction in mortgage lending crimped demand for property.