Testa Residencial, the socimi in which Santander, BBVA and Merlin have stakes, will today approve its merger with Acciona’s property rentals business. The operation will create a new property ‘giant’, unheard of up to now in Spain, given that it will be the first company dedicated to the home letting business.
The tourism sector plays a very important role in the Spanish economy. And its prospects are positive looking ahead to the coming years, based on the different statistics available. That said, there are various elements which should make us reflect on whether the Spain’s tourism business is as well focused as it could be and if it is adapting easily to a changing reality.
Amazon will open a new research and development centre in Barcelona, where over 100 scientists and software engineers will work.
Tourism spending in Spain in the month of July totalled 11.902 billion euros, up 16.3% from 2016 and, yet again, beating records. Accumulated spending for the year totals 49.119 billion.
Spain’s property sector continues generating good news: housing purchases over the last two years have been rising at double digit rates, prices increasing ten months in a row around 4%. Real estate companies as well as Socimis underlie behind this positive trend. Merlin Properties is a top pick in the real estate sector. It has a portfolio of top quality, diversified assets.
The problem in Spain’s economy: it’s that productivity is hardly apparent in the breakdown of GDP between the amount of work (number of hours worked) and the residue, which is productivity.
Home prices in Spain rose 4.4% year-on-year in Q2’17, according to the Price Index for Repeated Home Sales published by the Property Registers College. Prices have now been increasing for 10 consecutive quarters,
After a brief look through the main international newspapers and publications, if there is one thing that’s clear it’s that the dominant view is there will be no referendum in Catalonia. And if it does take place, it will have zero effect. In other words, it won’t bring the region independence.
Nick Ottens via Atlantic Sentinel | Accusing Catalan nationalists of attempting to profit from a terrorist attack is not going to change minds. A little empathy, by contrast, and maybe a little bit of compromise, would go a long way.
CaixaBank Research | Spain’s property sector is on the up and up again, as can be seen from the trend in housing purchases over the last two years. These have been rising at double digit rates, fuelled by a recovery in the jobs market combined with favourable financial conditions.