there a big hole out there , yes 30 and see up 40 % off some properties both commercial property and residential but bank are up wall on Borrowing by Spanish banks from the European Central Bank hit a new record in March at €227.6 billion ($299 billion) bank issued eviction orders to get property .... still think it going fall more buy this time next year , look at ireland where NAMA(National Asset Management Agency is a body created by the Government of Ireland in late 2009. It is in response to the Irish financial crisis and the deflation of the Irish property bubble , ) NAMA has published a listing of properties , The banks are also suffering a liquidity crisis due, in part, to their lack of suitable collateral for European Central Bank repo loans. Along with their capital requirement problems, this is limiting the banks’ ability to offer credit to their customers and, in turn, contributing to the lack of growth in the Spanish economy , wich is down ... If the banks were to recognise the true value of these loans on their balance sheets, they would no longer meet their statutory capital requirements. The banks therefore need to raise further capital but, given the uncertainty around the true value of their assets, their stock is in too little demand for a general share issuance to be a viable option
This has happen in Ireland where the bank where bail out by Government of Ireland back in 2009 and then when Government of Ireland need cash , that hand none and the wnet to EU-IMF bailout in November 2010
Spanish bank wont give offers of credit to their customers and try to get customers two pay off loans in fast time then agreement time subsidized loans are Been hit
Banks staff with bullying policys, that the loans will be repo if payment plan is done in sorter time and sizeable amounts pay up front of the loans . ie 10 year loan now to payed in 5 year and knock 200,000 - 300,000 of the loan now .
i am keep my 200,000 k in the bank to buy next yaer , bank did ask me what i was doing with so much money and told me to lock away for 5 years , i told i going two buy a house and told i need to apply for a loan , i cant used the money in my account ... Sorry Bank of ... it my money resting in your bank ..
Dont for get that .....
One house bought in 2006 3.3 million is now going for 1.8 million , no takers yet ... 4floors Under ground carpark for 4 cars , Gated , grounds 3 gardens with pool , master tv room , dinning room kitchen design, both gas and elec, pantry and wet room glassed , wash machine dry machine , study room , office room , hallway design staircase , staircase second back off house , 3th floor 4 bedroom with ensuite , balconys (one bedrooms can used as main bedroom are on top floor4 1 bed room ensuite with balcony and terrace garden CCTV , ALARMED , Cat Category 5 cable TDT/satellite , radio intercom in every room and gate1 gate2 electrical cctv doors intercom and , back up power to generate, i think there missing shotguns and few dogs O for got to tell you undergrond heatting and solor power kit think