Spanish Real Estate forum - Spanish property - Estate agentsSpanish Real Estate forum - Spanish property - Estate agents

Richie · 02-18-2008, 02:07 PM

MADRID (Reuters) - Shares in Santander the euro zone's biggest bank, slipped on Thursday on concerns about its exposure to the sharply slowing Spanish property market and to the United States.

At 1515 GMT, Santander shares were down 1.1 percent at 13.50 euros, underperforming the DJ Stoxx index of European banking stocks which was 0.6 percent lower.

Its five-year credit default swaps were 6 basis points wider at 66 bps, a trader said.

"It has been moving wider over the past four sessions. It's because of worries about exposure to real estate companies and builders," the trader added.

Full story can be read here .... Reuters - Spanish Property Worries

Homefinder · 02-20-2008, 01:37 PM

Thanks for that Richie.
Most certainly things are not looking good for the Spanish economy right now and it would seem that things have to get worse before they get better.

Some Good News at Last?

Bloomberg.com reported an increase of 3.2% in the offer price for new listings in the UK during February, after the second interest rate cut in 4 months.
For sure they still have to sell them but at least it shows a more positive outlook.
The Bank of England have also said that further cuts are possible as the economy slows and banks cut down on loans.

Read the full article here

Quite likely now we will see further falls to interest rates in the Euro Zone, otherwise further falls to the value of £sterling will occur.

Homefinder

Richie · 02-20-2008, 02:00 PM

That's quite surprising those stats, 9 out of 10 counties recorded price increases, a couple of weeks ago I watched the Panarama program on BBC1 about the housing market in the UK which focused a lot on the buy to let market and they said that they were expecting house prices to fall by roughly 35% over the next couple of years in the UK?

Good read that Homefinder!