Country: Spain
29 June 2009
The Spanish government has announced details of a rescue fund of up £85bn to help the country’s banks cope with a string of bad loans, including poor mortgages used to buy property in Spain, as well as help reform its banking system. But executing the plan will be difficult.
Spanish banks have so far coped relatively well in light of the global financial crisis, with only one small savings bank, Caja Castilla La Mancha, having run into grave difficulties. But experts project that the worst is yet to come, which is why the government has acted. Unemployment currently stands at 18% and is rising, which will further dampen demand for property in Spain.
Most banks have already swapped poor debt for properties in Spain from struggling developers, which has improved the non-performing loans ratio, but may cause problems moving forward.
See Also: Marc Da-Silva, Spain
Price: €68,000
Type: apartment
Bedrooms: 1
New apartment in the urbanisation of roquetas de mar, almeria. the property comprises of lounge/diner with american kitchen (not fitted), bedroom, bathroom and terrace overlooking the communal pool.
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Price: €69,000
Type: Apartment
Bedrooms: 4
Reformed apartment in Tabernas, Almeria.
Price: €69,500
Bedrooms: 2
fully furnished apartment situated in enix, with fitted american style kitchen, bathroom, 2 bedrooms and terrace. just a few minutes from the village and all amenities and 20 minutes from the coast and main shopping areas.220
Price: €70,000
Type: Village House
Recently refurbished village house in Picena in the Alpujarra mountains, good quality fittings throughout and fantastic views from the terrace.
A well situated, 1 bedroom apartment in the marina at Almerimar. This property is fully furnished and stands just 50m from beach and all amenities. Would benefit from a reform but has great rental potential.
This well presented ground floor apartment is located in the popular village of Formentera Del Segura, central to the villages of Rojales and Benijofar.
Price: €74,950
This spacious top floor apartment is located in the popular village of Daya nueva. The property makes up part of a small complex (25 properties), which share a communal pool and bathing space.
Price: €75,000
Type: bungalow
This well maintained ground floor bungalow is situated in Los Palcios boasting fantastic views of the countryside and being only a short walk from many amenities and the municipal pool.
Village house that has been renovated but still has some rooms to reform close to the village of Ugijar in Granada. The property has a new roof, new plumbing, and has been re-wired.
Brand new, 1 bedroom apartment in the Roquetas resort with community pool and garage space. Within walking distance of shops, bars, restaurants, tennis courts and beach.
Price: €270,000
Bedrooms: 3
Close to amenities, golf, tennis & schools. Walking distance to shops. Roof terrace, courtyard.
Price: €275,000
Bedrooms: 2 - 1 ensuite
Fully furnished, gated complex, entry phone. Private terrace. Walking distance to beach. Good rental potential.
Price: €255,000
Bedrooms: 3 - 1 ensuite
Conveniently situated for golf. Double glazing, fireplace, fitted kitchen, utility room. Quiet location. Good rental potential.
Price: €795,000
Estepona: Snooker room, cellar, fully furnished, gym, Jacuzzi. Luxury fittings. Quiet location, sea views.
Price: €241,0000
Fuengirola: Gated complex. Fitted kitchen. Fully furnished, roof terrace, Walking distance to beach & shops.
Prices from: €355,000
Luxury townhouses in the centre of a world class, championship golf course.
