I suppose I should have expected a bumper news week following the UK Budget announcements on the 22nd. The only direct change potentially affecting property owners in Spain is that landlords may lose the ability to offset their UK tax bill.
Spanish proprety owners from UK are facing massive losses following signs that the bottom has fallen out of the property market in Spain. During 2008 vast swathes of the Spanish costa have been developed in a construction boom that has made the nation one of the fastest growing economies in Europe.
This could hardly be called a cheery week for Spanish property news. Even the fact that Sterling is worth more Euros this week than last, is more of a reflection of European pessimism, than UK optimism. The eagerly anticipated Tinsa index failed to offer any crumb of comfort regarding early signs of an economic recovery [...]
