Spanish Property News on 2/7/2012

AFP

Spain's Top Banks Set New Property Provisions Wall Street Journal By ILAN BRAT And CHRISTOPHER BJORK MADRID—Six Spanish banks said Tuesday they would set aside €11.8 billion (about $15.6 billion) between them in additional provisions for property risk this year and another €5.6 billion as an extra buffer to comply ... Spain's banks count cost of property clean upReuters The pain in SpainFinancial Times Spanish banks book provisions against property sectorAFP New York Times -Business Insider -RTE.ie all 110 news articles »

Bloomberg

Spain's Property Purge No Panacea for Loan Drought Bloomberg Enlarge image Spain's Property Purge No Panacea for Loan Drought Spain's Property Purge No Panacea for Loan Drought Markel Redondo/Bloomberg Signs advertise apartments for sale, in Bilbao, Spain. Play Video Enlarge image Spain's Economy Minister Luis ... Spain's Property Purge No Panacea for Loan Drought: Euro CreditSan Francisco Chronicle Spain Could Yet Regret Its Incomplete Banking SolutionWall Street Journal (blog) Two cheers for Spanish banking reformReuters Blogs (blog) CanadianBusiness.com -GlobalPost -Seattle Post Intelligencer all 55 news articles »

Current Exchange Rates Could Prompt Brits to Purchase Spanish Property, Says ... Sacramento Bee However, despite financial advice prompting consumers to save over the coming months, currency exchange experts, Currencies Direct claims 2012 could prompt millions of Britons to realise their dreams and purchase housing property in Spain. and more »

euronews

Santander feels pain of Spanish property hangover Reuters Spanish banks have hundreds of billions of euros of unsaleable land and property and unrecoverable loans to bankrupt developers sitting on their balance sheets, four years after a housing and construction crash. Santander's grim outlook for the ... Spanish property bubble hits Santander profitseuronews Santander profit falls on Spanish property provisionsBBC News Santander Profit Slumps After Spanish Real-Estate CleanupBusinessWeek RTT News -Reuters UK all 214 news articles »

WEAKENING EURO ATTRACTS SPANISH PROPERTY INVESTORS The Leader Newspaper Online The Pound has just hit a 16 month low against the Euro, encouraging UK property investors to develop more interest in the strengthening Spanish property market. GBP/EUR currently stands at around 1.2000, a growth of more than 10% over recent months. and more »

AFP

BBVA net profit hit by Spanish property, US writedowns Reuters MC), Spain's second-biggest bank, fell 35 percent to 3 billion euros ($4 billion) last year, hit by provisions for bad property loans at home and a previously announced one-off charge on its US business. Spanish lending has dwindled as the jobless rate ... BBVA takes €1.5bn writedown on US businessFinancial Times all 109 news articles »

Financial Times

Santander, BBVA Make $9.1 Billion in Provisions for Property BusinessWeek 7 (Bloomberg) -- Spain's biggest lenders, Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA, will take a combined 6.9 billion euros ($9.1 billion) in provisions after the government ordered banks to recognize more property losses. Spanish banks race to meet latest government rulesFinancial Times all 20 news articles »

Overseas Property and Investment News

'Opportunities for investors' in Spanish retail property Overseas Property and Investment News There are expected to be "attractive opportunities" for investors in the Spanish retail real estate sector over the course of 2012. Danny Kinnoch, international investment director at Savills, commented that buyers who are not relying on finance from ... Spain's retail to remain steady for 2012FreshPlaza all 2 news articles »

The Elephant in the Room is Spain, Not Italy Wall Street Pit Spain, relative to GDP, has the largest shadow real estate inventory in the world, with the possible exception of China, which probably doesn't even have a reliable second or third set of books). Let's be clear about one thing: this is not a tale of ... and more »

Home Sales Go On Despite Spanish Peaks Bankruptcy Wall Street Journal (blog) “Any who comes forward…will be aware,” Brady told Bankruptcy Beat Monday, adding that there is no published minimum bid for the properties. Martha Johnson, the president of Rivers to Peaks, Spanish Peaks' exclusive brokerage, acknowledged the ...