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Kyero Live
last updated: Feb 04 2012 2:19 PM
  • Non-hotel overnight stays increased by 5% in 2011
    Overnight stays in non-hotel tourist accommodation (apartments, campsites and rural tourism) exceeded 102.8 million in 2011, representing an increase of 5.2% over 2010, according to figures released by the National Statistics Institute. The rise experienced in overnight stays in non-hotel accommodation last year was as a result of a 7.5% increase in stays made by [...]
  • Cold Snap Heading for Malaga
    Europe is freezing, with the wave of cold weather hitting several countries, mainly in the East, leaving many dead, according to recent reports. Temperatures plummeted to -33ºC in the Ukraine, -31ºC in eastern Bosnia and to similar figures in Poland, Romania and Bulgaria, and this drop in temperature is likely to be felt in Malaga [...]
  • Demise of Spanair Good News, Says Ryanair
    The Chairman of Ryanair, Michael O’Leary, believes that the bankruptcy of Spanair is “good news for tourism and employment in Spain”, because, in his view, “it will allow the arrival of new airlines to take its place and, at the same time, increase traffic by offering lower rates and a more efficient service”. In a [...]
  • Moody’s Believe New Spanish Bank Mergers Will Affect Their Credit
    The rating agency Moody’s anticipates a significant deterioration of credit due to the second wave of mergers in the Spanish financial system, a process that “will not be financed with public funds,” although the Bank Restructuring Fund (FROB) remains in force. “The Government has clearly expressed its intention to limit public support to banks,” warned [...]
  • 2011 Closed with Highest Unemployed Rate Since 1994
    The number of unemployed in Spain has surpassed the 5 million mark for the first time, ending 2011 with 5,273,600 unemployed, according to the Labour Force Survey (EPA), released on Friday by the National Statistics Institute. The unemployment rate increased by 1.33 points to 22.85%, which is the highest it has been since the first [...]
  • Facebook Generates Jobs in Spain
    The world’s largest social network is more than entertainment for its users. According to a report by Deloitte, Facebook generates 232,000 jobs in the European Union. The same study, which measures the employment and economic impact of Mark Zuckerberg’s company, said that this accounts for 15,300 million euros of the EU’s GDP and 1,400 million [...]
  • IMF Calls for Increased Funding
    The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has called to “increase” but not “double” the European bailout fund, so that countries like Spain and Italy are not drawn into a liquidity crisis. At a conference in Berlin before the German Society for Foreign Policy, Lagarde said that “stronger firewalls” are essential [...]
  • Electricity Bills to go back to Bi-monthly
    The invoicing for electricity is to go back to being bi-monthly. This was proposed by the Ministry of Industry, Energy and Tourism as a draft royal decree establishing that the billing of domestic electricity consumers should be based on actual meter readings, taken every two months. With this new law, El Mundo reported that the [...]
  • Iberia Flight Strikes Called Off
    The main trade unions of the 16,000 Iberia ground staff, the CCOO and UGT, along with the TCP, the union of the 4,000 cabin crew, on Friday reached an agreement with the heads of Iberia to extend the guarantees of employment for both groups until 2014, with automatic extension until 2015. This agreement has resulted [...]
  • Japan Calls for “Greater Efforts” from Europe
    Before attending the G20 meeting to be held in Mexico over the weekend, Japan reiterated the need for Europe to make its “best efforts” to resolve the debt crisis in the eurozone. “As we have said many times, Japan is prepared to support European efforts to stabilise the financial markets, including the loans from the [...]

spain +costa - Google News

last updated: Feb 04 2012 8:33 AM

Spain house sales fall 7.1 pct in April

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Posted by Administrator (admin) on Jun 26 2008
News >> All News

Spanish house sales fell 7.1 percent year-on-year in April to 55,802 units after a 39 percent fall in March, the National Statistics Institute (INE) reported on Thursday.

Government data also showed a 13.8 percent year-on-year fall in April house mortgage lending to 12.24 billion euros ($19.2 billion), following a 42 percent drop in house mortgage lending in March.

April's lower rate of falls in house mortgage lending and house sales can be partly explained by the fact that Easter was in March this year and in April last year, INE noted.

"This sudden easing is probably due to Easter, and until we see how the index behaves over the next few months we really can't draw any conclusions," said Sergio Diaz from Caja Madrid.

Spain, the euro zone's fourth-largest economy, is suffering a deeper than expected slowdown as the end of a decade-long property boom coincides with the global credit crunch, record oil prices and a strong euro. Housing Minister Beatriz Corredor said on Wednesday the sharp slowdown in Spain's housing sector will be over by the second half of 2009 and called the sector's decline a necessary correction for Spain, where house prices tripled in the decade to 2007.

Expectations of a further Eurozone interest rate rise at next week's monthly European Central Bank meeting to 4.25 percent from 4.0 percent are adding pressure to an already depressed sector. The average interest rate in April for mortgages stood at 5.13 percent, which was 11.1 percent more expensive than a year earlier, INE said.

Full story from www.guardian.co.uk

Last changed: Jun 30 2008 at 1:00 PM

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