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Summer 2013 Could be the Coldest in 200 Years

Maria Sullivan — Wed, 29 May 2013 08:43:49 +0000

Looking back over the past few weeks, many will have certainly noticed the erratic weather. From hot and sunny days to gloomy rainy days – back and forth. Here comes the icing on summer 2013. According to the French weather channel Metèo, there is a 70% probability that summer will be completely absent this year, [...]

Unemployment in Spain Tops 6 Million

Ana Pozuelo — Thu, 25 Apr 2013 16:45:33 +0000

New figures reveal that unemployment in Spain now affects 6,202,700 people. An increase of 563,200 over the previous year when 5,639,500 people were unemployed. The unemployment rate in Spain has reached 27.16% of the active population in the first trimester of 2013. In Andalucia the unemployment rate reached 36.8% and in Ceuta 38.4%. The latest [...]

Spanish Property Prices to Drop to Levels of 1989 says UBS

Maria Sullivan — Thu, 25 Apr 2013 16:30:36 +0000

According to a report elaborated by UBS CIO Wealth Management, property prices in Spain are to continue dropping until they reach levels of 1989. The report was sent out to its private banking clients and stated that neither construction nor tourism, the two pillar of Spain’s economic boom, will be the enginges of growth from [...]

La Caixa to Sell off 12,000 Properties for 1,500 Million Euros

Debbie Parker — Thu, 11 Apr 2013 21:49:05 +0000

The Spanish savings bank La Caixa has put up for sale a package of 12,000 properties held by its Servihabitat company. Morgan & Stanley have been appointed to sell Servihabitat Gestión Inmobiliaria S.L., the company that manages the sale of the properties. The 1,500 million euros “value” of the 12,000 Spanish properties is 51% of [...]

5,639,500 Unemployed in Spain

Maria Sullivan — Fri, 27 Apr 2012 10:00:28 +0000

Unemlpoyment in Spain has risen by 365,900 in the first trimester, reaching a total of 5,639,500. The unemployment rate in Spain now stands at 24.44% according to the latest figures revelaed Friday by National Institute of Statistics. The number of households with all members out of a job rose to 1,728,400, an increase of 153,400 [...]

8,000 British Students Invade Salou During Annual Saloufest

Maria Sullivan — Mon, 02 Apr 2012 17:10:31 +0000

Over 8,000 british students, one thousand more than last year, have invaded the Costa Dorada’s tourist resort of Salou in what is now the 12th edition of the Saloufest. The British operator I Love Tour assures that “the Saloufest is the best sporting trip for English and Irish college students. This year we will offer [...]

Over 50% Youth Unemployment in Spain

Maria Sullivan — Mon, 02 Apr 2012 14:18:58 +0000

According to Eurostat, 50.5% of those younger than 25 in Spain are out of work. Eurostat notes that unemployment increased throughout the Eurozone and European Union, up to 10.8% and 10.2%, respectively, with Spain registering the highest unemployment rate, of 23.6%. The figures which relate to the month of February, show Spain is at the [...]

Hotel Incosol in Marbella Closes After 39 Years

Ana Pozuelo — Mon, 02 Apr 2012 06:55:11 +0000

After 39 years, the hotel Incosol closed down on Sunday due to a lack of economic resources. The 130 workers have pledged to stay on and wait for an investor to buy the hotel. They will carry out maintenance duties and make an inventory of everything in the hotel. The hotel has an outstanding debt [...]

Extreme Cold Weather Hits the Costa del Sol

Maria Sullivan — Fri, 03 Feb 2012 09:06:35 +0000

The big Siberian cold which has covered nearly the whole of Europe, has finally hit the province of Malaga, bringing with it one of the coldest nights of the winter. The cold weather is expected to stay until at least Sunday. Spain’s Weather Agency (AEMET) has activated the yellow alert for cold temperatures which will [...]

Spanish Property Sales Continue Collapsing

Maria Sullivan — Fri, 09 Dec 2011 14:56:01 +0000

Spanish property sales have dropped 30.3% and 40.8% in the first and second trimester of the year, respectively. Existing home sales fell 6.3% in the third quarter compared to the same period in 2010 and reached 75,462 transactions, the second lowest since the crisis began, according to figures released today by the Ministry of Development. [...]