Estate Agents & Advertisers: 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?

 
Secure Exit Strategy


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 created on behalf of Propertyshowrooms.com News Desk ()

Related Articles

  1. Tourists Spend Record 6.08 Billion in Spain
  2. Property Market Revival Gathers Pace in Spain
  3. Strong Overseas Demand Boosting Spanish Property Market
  4. Property Price Falls Decline in Spain in 2013
  5. Spain Now Commands 3rd-Most Tourists Worldwide



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.

USA Income Properties Fully Managed From $22,000
Investment Property
Distressed Property in Sax Featured Property
Sax (Alicante)
House/Villa - 5-Bed, 3-Bath
€575,000 - Find out more »
Distressed Property in Pinar de Campoverde Featured Property
Pinar de Campoverde (Murcia)
House/Villa - 3-Bed, 2-Bath
€370,000 - Find out more »
Distressed Property in Benahavis Featured Property
Benahavis (Malaga)
Apartment/Flat - 2-Bed, 2-Bath
€235,000 - Find out more »

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