The average loan capital on new mortgages in Spain increased by 7.1% in February to €115,883, according to recent data published by the Central Statistics Unit The report confirms that although the property recovery is still ongoing the pace of the property recovery varies from region to region.
The Spanish unemployment figure fell by 129,281 in April, a decrease of 3.49% and the biggest single monthly drop ever reported, according to the Ministry of Employment. The total number of people out of work in Spain stands at 3,573,036, over 1.4 million less than four years ago. Over the past 12 months 438,000 people have found employment.
Spain’s consumer confidence index soared by seven points in April to 106.7 (on a scale of 0-200), according to a report by the national centre for sociological research (CIS). In December 2015 consumer confidence hit 107.4, the highest level ever seen. The new findings show that members of the public are finally confident in the strength of the Spanish economy, following a year of political uncertainty when consumer confidence fell.
Spanish households are investing more and more money in stocks and shares, says the Bank of Spain. The latest figures published by the Bank of Spain reveal that households and non-profit organizations, which provide services for households, own €155.3 billion in shares, reports financial newspaper The Corner.
There is some good news for those who paid deposits on homes in Spain that were never built, The Olive Press reports. The new rules state that if a deposit was paid into a developer bank account and the property was never built, then the purchaser is entitled to a refund from the bank, along with any interest occurred, even if the developer is no longer trading.
It could be another record breaking year for tourist numbers in Spain this year, with nearly 90,000 flights scheduled to fly into Malaga airport alone this summer. The wave of flights amounts to almost 500 flights per day, bringing a total of 15.5 million tourists to the Costa del Sol.
Luxury hotel chain W is to open new premises in Marbella in conjunction with the Platinum Estates investment group who will be developing the project. W Hotel and Resorts new hotel will be built near Marbella’s Real de Zaragoza beach and is expected to open in 2021.
Malaga’s iconic Tivoli World amusement park is to receive a €300 million makeover, a move that will create thousands of new jobs and boost tourist numbers in the area. The park, located in Benalmadena, will undergo a full modernization which will see the addition of 43 new attractions as well as the construction of a new commercial and leisure centre on adjoining land.
Spanish banks Bankia and Banco Mare Nostrum (BMN) have been given the go ahead to discuss plans of a proposed merger, Reuters reports. Both banks will consider the proposal by Spain’s FROB bailout fund in a bid to recover public money used to rescue the banks back in 2012.