Showing posts with label REAL ESTATE. Show all posts
Showing posts with label REAL ESTATE. Show all posts

Tuesday, 5 March 2013

Sotogrande loses €68 million in 2012

Losses are up by 115% over 2011
SAN ROQUE / Sotogrande NH Hotels owns over €97% of Sotogrande S.A., which is its real estate arm headquartered in San Roque. It recently reported a loss of €68 million, which is up by 115% from the previous year's €31.6 million. Income for 2012 amounted to €548,000, against costs of €4 million. All this, and more, according to the company's report to the Comisión Nacional del Mercado de Valores (CNMV, or Stock Exchange Commission).

Wednesday, 22 August 2012

Spanish property market at bottom of the pit

Illustration only
Media reporting 'state of collapse' · Cádiz sales at historic low
MADRID The property market balloon in Spain is more than punctured. If you read the national media, paper and online, the language will offer a picture of Daliesque collapse, with deflated balloons hanging from the skeletons of unfinished buildings instead of clocks from tree branches. The latest report from the National Statistics Institute (INE) on the subject, for June 2012, shows historic minimums: only 681 property sales took place that month, 585 of them urban. In June 2011, there were 800 such sales and loud warnings were issued. The figures offer a year on year downturn of 15%. Agents and government bodies confirm that neither rentals nor sales are working,  and estate agents are clinging to the precipice by the fingernails.>>>