Property & Email Marketing: Login or Register Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
IPIN Left IPIN Middle IPIN Right
Header Corner
Find Property in :

E.g. "Marbella" or "Manchester". Looking for more search options?

 

Spanish banks 'struggling to cope' with real estate losses

Date : (News Section: Spain)

Share
Spanish banks 'struggling to cope' with real estate losses

Falling property values and rising numbers of foreclosures in Spain are among the factors putting pressure on the country's financial system.

Speaking to Time World, Santiago Nino Becerra, an economist at the University of Ramon Llull, explained that Spain's mortgage market is comparatively small compared to other nations, such as the US.

"With housing values dropping, the banks here simply can't withstand those kinds of losses," he stated.

Mr Nino Bercerra went on to add that because unemployment in Spain is continuing to rise, "when it comes to foreclosures, we're going to see some unbearable statistics".

The country's financial institutions have been under the spotlight of late, due to the economic difficulties being experienced by several members of the European Union - most notably Greece.

Meanwhile, after three major Spanish financial establishments - Caixabank, Bankinter and Popular - published their first half 2011 results today (July 22nd), banks analyst at Nomura in London Daragh Quinn told Reuters that the figures were better than expected.
 

Share

Article by +James Roberts on behalf of Propertyshowrooms.com

Read More

  1. 26 August 2014 - Bumper Year for Tourism Boosts Hotel Investment Sector
  2. 14 August 2014 - Spanish Property Sales Up 8.8% in June
  3. 08 August 2014 - 2014: Property Investment Trends in 5 European Cities
  4. 17 July 2014 - UK Investor Appetite for Overseas Property Still Riding High
  5. 16 July 2014 - The Rise and Fall and Rise of Property in Fuengirola






Let us search for you Let Us find Property in Spain for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in Spain.

SubscribeGet Email Updates!

   

* We value your privacy and will never share your email address with anyone else.

Currencies 4 U

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: Spain
Channel: All

More RSS FeedsGo

Media/Press SectionProperty News Search


   

News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo