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BBVA raises Spain's GDP growth in 2018 to 2.9%

BBVA raises Spain's GDP growth in 2018 to 2.9%

Spanish bank BBVA raised the predicted GDP growth rate this year from 2.5 to 2.9%, amidst various reports of a positive economic outlook for Spain in 2018.BBVA released the amended figure after revising the economic impact of the Catalan independence referendum last October, that led financial analysts and economics to suggest the crisis could be damaging to Spain's long-term economic growth.However, six months on, the political crisis ... [Read More]

Spain's credit rating upgraded to A-

Spain's credit rating upgraded to A-

Fitch, a leading agency has upgraded Spain's credit rating to A- as the economy continues on a steady path of growth and stability.Four years after the financial crisis hit, Spain was downgraded to a 'B' rating in response to the proposed EU bailout and instability of the nation's banks. The credit score diverted investors and made it much harder to borrow money and make any substantial investments that could help stimulate growth in the ... [Read More]

Spanish economy expected growth in 2017 revised from 2.6% to 3.1% by IMF

Spanish economy expected growth in 2017 revised from 2.6% to 3.1% by IMF

The International Monetary Fund (IMF) revised its previous forecast of a 2.6% growth in the Spanish economy this year to 'at least' 3.1%.The revised figure reflects a period of strong consumption, investment and exports in Spain that has helped sustain a smooth economic recovery for the country.The world banking institution predicts that Spain's gross domestic product will surpass pre-crisis levels in the second quarter of this year, ... [Read More]

Self-Build Mortgages in Spain

Self-Build Mortgages in Spain

Encouraged by increased demand for Spanish property, Spanish lending institutions are now offering a variety of accessible funding schemes to property investors. Self-build mortgages are particularly contributing to the increase in new-builds along the Costa del Sol and are an excellent option for investors looking to design and build their own homes on the southern Spanish coastline.A self-build mortgage is a home loan taken out on a ... [Read More]

Mortgage lending in Spain rises by 10 percent in September

Mortgage lending in Spain rises by 10 percent in September

Mortgage activity in Spain rose by 10 per cent in September, according to the country's central statistics unit. Mortgage for residential property in Spain appears to have achieved a level of stability and gradual month by month growth in all 17 regions.In September, the number of mortgages registered on residential properties was 26,667, an increase of 10% over the same period last year. The average loan capital also rose by 2.2%, rising to ... [Read More]

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