Country: Spain
26 June 2009
The volume of properties in Spain being constructed in April rose by 3.2% compared to March, the second largest month-on-month rise of any European natioin apart from the Czech Republic, according to data compiled by the EU’s statistics office, Eurostat.
Construction output in April fell by around 6% year-on-year, which is significantly better than the 20% annual fall recorded in March.
However, much of this building work is taking place in the non-residential sector, where there is currently a stringent oversupply of over a million homes.
Related news
International Mortgage Brokers says that a leading Spanish bank has appointed it to offer mortgage loans, of up to 90%, on selected Spanish homes owned by the bank, with borrowing rates starting from just 2.65%.
Most Spanish mortgages are normally limited to just 70% of the purchase price.
See Also: Marc Da-Silva, Spain
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