International Property Investment » Spanish repossessions

Investing in property – the big boys are starting to hurt badly

Mark Knowles — Fri, 28 Aug 2009 09:12:04 +0000

Another round of losses in the third quarter shows continuing weakness in the world’s real estate markets. Although property investment in Singapore ticked up slightly in the third quarter, more bad news from major developers and property investment vehicles show continuing declines in prices, sales volumes and profitability. US luxury home builder Toll Brothers posted a Q3 loss of $472.3 million, and GPT group in Sydney, Australia posted a US$995 million loss for the first half of the year.

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Repossessed Property in Spain reaches epic proportions

Mark Knowles — Tue, 09 Jun 2009 09:37:33 +0000

For the last two years, the Spanish banks have been slowly but surely turning themselves in to the biggest property owners in the country. The amount of “debt for equity,” swaps and bank repossessions is almost impossible to calculate. In fact, there is a suggestion that the banks themselves do not know exactly how much property they own. Obviously the intention behind this practice has been to artificially inflate the value of property and prevent a complete collapse.

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