An anonymous comment to the next-to-last post, made in Spanish, relayed some housing market information interesting to those who would like to know what it takes to move a residential property in Spain at this moment. We translate (hoping that he or she might have an idea how many units were involved):Officially, house prices in Spain have dropped 5%. In the meantime, the financial institution in which I work (and I imagine the rest of the banks) has been offering real estate, recently taken back from promotors in lieu of loan repayment or foreclosure, out the back door to its employees at discounts of 35% from original prices - with 100% financing. Almost all were sold within a month.
Also, they are offering foreclosed homes from individuals at substantial discounts, rather than selling them by auction, as would normally be the case.
We can only think that employees taking up the offer would be awarded the added extra of an implicit job guarantee.
Many thanks to Anonymous.
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2 Comments:
Wow! What discounts! And what a lack of financial transparency! What is more shocking?
España va mal (no sé si tú estabas ahí cuando Aznar no paraba de repetir "España va bien").
Si. Me acuerdo perfectamente. Personalmente, no se si va bién o va mal, pero sí va normal.
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