Saturday, September 26, 2020
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The Bank of Spain Warns That the Crisis Will Have a Negative Impact on Credit Portfolios

According to the Bank of Spain, the crisis will have a negative impact on the quality of the banks' credit portfolios, the magnitude of which will depend on its duration and severity.

Outside the Bank of Spain’s headquarters in Madrid.

In an article published on Sunday by the Governor of the Bank of Spain, Pablo Hernández de Cos, on the entity’s website, he points out that, after an unprecedented recession, the economy will undergo a gradual recovery, which will be incomplete and uneven. For this reason, he calls for an “urgent” undertaking of a program of reforms to addresses structural challenges.

“As the vulnerability exercise recently published by the ECB highlighted,” we must prevent the crisis from seriously damaging the stability of the financial system, as this would make it more profound and long-lasting. That will require closer monitoring of the risks that threaten financial stability and for entities to be prepared to give a strong response, at the European level, should the risks materialise”, he says.

Read the full article in Spanish.


The Details of the 102 Residential Plots Being Sold by the Community of Madrid

The regional government is going to put 240 publicly owned plots up for sale, of which 102 are for residential use. The jewel in the crown is a plot spanning more than 32,000 m2 in the heart of the Salamanca district.

How Covid is Affecting House Prices: Map of the Decreases by District

The coronavirus crisis is causing house price decreases of up to 70% in some municipalities in Castilla La-Mancha, the Community of Valencia and Andalucía.

Property Developers Launch Large Urbanisations Post-Pandemic

Between April and August, work began on 996 developments in Spain with the ten largest comprising 1,691 homes. Of those ten, which are located in Madrid, the Basque Country, the Community of Valencia and Andalucía, four are being built by Amenabar.

Fearless Despite the Crisis: Property Developers Start Work on More than 27,000 New Homes Since April

Between April and August, work began on a total of 996 developments and 27,882 homes in Spain, according to data from the real estate big data platform Brains RE, with Amenabar, Habitat and Aedas the most active players.

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