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Property Blog |
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tpg-tenerife.com
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Tenerife Property News from around Europe
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This weeks exchange rate news
The Pound has been falling at an alarming rate, following Friday’s weak GDP revision (showing last year’s economic contraction was even bigger than expected) and new worries about Quantitative Easing.
On Thursday, the Bank of England announced no change to interest rates. In virtually all currencies, sending money overseas is becoming rapidly more expensive due to [...]
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Weak economic growth in Spain
Credit ratings agency Standard & Poor’s warned Spain that its weak economic growth prospects could undermine its plan to rein in its budget deficit, making a debt downgrade even more likely. Investors are increasingly worried about Spain’s budget deficit - and skeptical about the government’s ability to push through sharp cutbacks to right the situation.
The [...]
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New mortgage lending still depressed in Spain and Tenerife
New mortgage lending in Spain is still very depressed, according to the latest numbers from the National Institute of Statistics (INE).
According to the latest figures, for December and therefore the whole of 2009, new mortgage lending fell again last year, by 22% in volume terms (to 653,173), and by 34% in value terms (to 76.8 [...]
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A good result for sterling in the property market.
The value of overseas properties owned by Brits actually rose by more than £2.6bn, according to research. In many countries, the devaluation of sterling against the local currency was greater than the drop in property prices.
Property prices fell across much of the world last year, but looking at property in France, Spain, Portugal, Italy and the US. [...]
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Time to return and buy property in Spain and Tenerife?
We may think that we are savvy property investors, but are we really any good at investing abroad? Many British investors crashed and burned in Spain over the last decade. German investors, on the other hand, largely avoided the trouble and are now purchasing from distressed British vendors. Germans always used to be big buyers in Spain [...]
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Property Blog