The real estate investment, excluding the purchase of the first or second residence, has reached maximum levels since 2007 in the fourth quarter of 2019, according to the latest survey of the confidence of the Spanish investor of the manager J.P. Morgan AM.
The value of the 63 transactions recorded in Spain in the area of renewable assets amounted to 23.067 billion euros in 2019, up 14% from a year earlier, according to Mergermarket data analyzed by KPMG. For the international services firm, this increase is due to the ‘boom’ in green energy in recent years, which has meant that the sector’s assets are “going through a sweet moment, whether they are in the operation or development phase and are breaking records in sales transactions.”
Bankia Estudios| The initial proposal of the European Council for 2021-27 budget includes a significant cut with respect to the previous budget (1.16% of GDP in 2014-20). The budgetary debate takes place amid strong protests that the agricultural sector in Spain has been carrying out for almost a month. The falls in agricultural income in 2019 (-9%) and the fear of this decrease in CAP support are behind the malaise of the Spanish farm sector, but it is not the only reason.
The draft law for the digital transformation of the financial system is a long-awaited measure by the banking sector. The project anticipates the implementation of a test bench or regulatory sandbox, which is instrumental in promoting innovation in financial services. It is also a tool for the competition authorities, as it allows for synchronization between supervisory practices and financial regulation and the current pace of innovation and digital transformation.
J.P. Marín- Arrese | The Spanish government has tabled a proposal for a Google tax but will refrain from applying it till the year-end. They boasted not so long ago that nothing could deter it from taxing the tech companies. When confronted with the task of delivering its promise, courage seems to falter even if Washington has issued no explicit warning. Presumably, the French discomfiture conveyed a stern lesson of what happens to anyone defying the US.
At its cabinet meeting on Tuesday, the government gave the green light to the implementation of new taxes on digital business and stock market transactions, following similar steps by other European countries. The agreement reached between Spain’s PSOE and Podemos coalition government included the approval of the two taxes, with which the Administration expects to collect about 2.050 billion euros (€1.200 Bn with the digital tax and €850 M with the financial transactions tax).
While Spain’s public debt continues to increase, now accounting for 99% of GDP (1,075 billion euros), private sector debt continues to fall, and stood at 131.2% of GDP in the third quarter of 2019, a level below 133% – the European procedure for macroeconomic imbalances – for the first time since 2003.
In May, the Spanish government will hold an auction for the 700 megahertz (Mhz) frequency band scheduled for this year, 2020, in order to complete the release of the spectrum needed for the mass deployment of the new 5G mobile technology before June 30.
CaixaBank Research | Immigration is back in Spain after years of crisis in which there were many more immigrants departing than arriving (between 2010 and 2014). More specifically, Spain has once again become a net recipient of foreign immigration since 2015 and the trend has intensified in recent years: net inflows of foreign nationals reached 330,000 people in 2018 according to the migration statistics of the National Statistics Institute. The following are the main conclusions.
The sale of homes registered a total of 501,085 transactions in 2019. This was due to the decline in second-hand housing transactions, as new home purchases increased 1.2 %, says the National Statistics Institute (INE). On the other hand, housing prices continued to rebound, according to Q4’19 statistics from the Spanish housing registers.