Archives for Economy
July 6th, 2011
Tourism is one of the few economic sectors that seem willing to give good news, reported El Mundo. The hotel industry has reported a "positive outlook" for the sector this summer, with a growth of 35% over the 2010 campaign, which will mean a return to figures similar to those ...
Continue reading Spanish Hotel Industry Recovers to Pre-Crisis Levels
November 26th, 2009
A survey, conducted in June this year among more than 6,000 people reveals that currently the major obstacle in buying a property in Spain was in obtaining financing. In fact, 87% said it is difficult or very difficult to get a loan today, well above the European average 60%. However, it also ...
Continue reading Spanish Property Buyers just need Finance
November 30th, 2009
While not specifically Spanish related, many feel that this story is reflected worldwide and that banks are just looking to protect themselves and their shareholders and not helping normal mortgage payers as promised, even after seeking huge financial injections from world governments. The story stems from new evidence to suggest that ...
Continue reading Banks Relucatant to Refinance Mortgages with Public Money
November 30th, 2009
In more mortgage related news, the Euribor has closed the month of November with its ninth straight record low at 1.23%, meaning an average saving of 240 euros per month or 2880 per year compared to one year ago, this data is based on an average mortgage of € 150,000 ...
Continue reading 240 Euro per Month Saving on an Average Spanish Mortgage
December 9th, 2009
In an interesting report, the British bank HSBC has stated that the adjustment of the housing market in Spain will continue in coming quarters even though there have been signs that the "free fall" of the property sector is nearing the end. The report compares the current status of the housing ...
Continue reading How Valid is One Bank’s Opinion on the Property Market in Spain?
December 15th, 2009
Prices rose a half point in November and confirm the emergence of signs of recovery after eight consecutive months of decline that has placed Spain in a period of recession. This finding was confirmed by the National Statistics Institute (INE) and gives the cumulative inflation from January at 0.8% and ...
Continue reading Real Signs of Recovery from Recession in Spain
December 21st, 2009
About 400,000 workers in Spain on permanent contracts will have access to intermittent unemployment benefits without having to have contributed at least six months social security, in an amendment to made to the Employment Act tomorrow that will reduce the minimum contributions to just 4 months. However, there is great concern ...
Continue reading Unemployment Benefit to be paid after only 4 Months work
December 21st, 2009
The Second Deputy Prime Minister and Spanish Minister of Finance, Elena Salgado, said today that businesses will begin to see "some improvement" in the granting of loans. Salgado was speaking at a ceremony in which the Official Credit Institute (ICO) and ten financial institutions signed a collaboration agreement to support and ...
Continue reading Promised Improvement in Access to Loans for SME’s
December 21st, 2009
The Spanish will send around 40 million text messages (sms) during the peak hours of Christmas Eve and New Year's Eve this year, nearly three million more than the 37.15 million messages that were sent on the same days and times in 2008, this is according to an estimate based ...
Continue reading Huge Profits in Christmas Text Messages
December 22nd, 2009
A Spanish couple needs to earn 31,266 euros per year (2,695 euros per month) to buy a home, which is more than double (+107.86%) the average salary of around €15,000. This is the main conclusion in a report produced by the Youth Council of Spain (CJE). The organization further indicates that, ...
Continue reading Spanish Property Prices Too High for the Young
