Repossessed properties in Spain headlines

18MAY
Bankia customers take out over 1 bln euros

Bankia customers take out over 1 bln euros

Customers of recently nationalized Spanish lender Bankia have withdrawn more than 1 billion euros from their accounts over the past week, Reuters has reported. Bankia's shares plummeted as much as 27 percent after a newspaper said depositors were rushing to take out their money, despite the efforts made by Spain's fourth-largest lender to convince depositors that their money was safe. At the same time, Mariano Rajoy´s government kept denying that there was a run on the bank. Bankia was taken over by the Spanish government on May 9, in an attempt to clear concerns over the bank's ability to deal with losses related to real estate assets. According to the government, the bank is solvent and its depositors have nothing to worry about. However, Bankia is heavily exposed to Spain's collapsed property market, with 32 billion in assets deemed problematic. The Spanish lender made huge loans to property developers which are now considered at risk of default.
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17MAY
The best repossessed properties on our Property Shortlist

The best repossessed properties on our Property Shortlist

Our May newsletter on repossessed Spanish property is here! Featuring some of the best repossessed properties for sale along the Spanish Costa Blanca, with a price range between €56,600 for a 2 bed apartment in Algorfa, a few minutes drive from La Finca golf course and just 8 km from the beaches of Guardamar. and €189,800 for a 3 bed detached villa in Polop, close to the resort town of Benidorm with its excellent beaches and many entertainment attractions. Repossessed property has become quite a favourable option among first time buyers, with great opportunities to be had. You can now buy repossessed property in popular locations of the Costa Blanca region of Spain, where you can find miles of white sand beaches, towns with exceptional facilities, and typical Spanish villages in the middle of nature. See for yourself the amazing offers we have selected for you here and remember to subscribe  to our newsletter for the latest property bargains in Spain!
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16MAY
Spain´s risk premium rises to 500 basis points

Spain´s risk premium rises to 500 basis points

The Spanish risk premium, the difference in interest paid between German and Spanish ten year bonds, has broken through the 500 basis points barrier and is at an all-time high, according to Typically Spanish. Despite the fact that a 6% interest rate is generally considered to be the danger level, the government crisis in Greece, and the greater efforts now being demanded to correct the financial system in Spain have pushed the rate to 6.44%. Spanish Economy Minister Luis de Guindos has blamed the run-up in Spain’s risk premium primarily on Greece, and placed the responsibility for resolving this problem in the court of the European Union, El País has reported. At the same time, De Guindos has asked the European Central Bank for assistance in setting valuations to the real estate assets Spanish banks are being required to remove from their balance sheets in order to speed the process up. For its part, Greece will hold a new general election on June 17 after days of talks failed to resolve the country´s political situation.
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