Spain and term real estate market
In Spain there is another sale, only he wears more the character of Christmas. Today banks have become more active in terms of housing sales, which is in their ownership. This situation is due to the fact that Spain has again entered a phase of financial crisis and high unemployment, therefore many Spaniards, who took advantage of cheap credit for mortgages and hoping for a positive trend in the financial situation of the country – are unable to continue to pay the mortgage.
a Negative financial situation due to the fact that the real estate market was saturated and entered a phase of total stagnation, and in recent years the youth worked in the vast majority in the construction industry invested by foreigners. As construction halted, the house is not bought up, and the locals are once again left without a livelihood. The banks ended up 100 billion euros in terms of the value of the property. Banks urgently looking for buyers on this house because by yourself contain it costs too much.
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