Costa del Sol a BUY after Spanish Bust

This marks my second holiday in the Spanish Riviera since 2005. Four years ago, Marbella and neighboring towns were littered with cranes; not anymore.

The last time I visited Marbella the Costa del Sol region was in the throes of a major real estate boom that saw prices extend as far as the eye can see; now the property market has crashed and bargains beckon in Spain.

If you’re looking for an affordable condominium in the Spanish Riviera then now is the time to make a purchase following a 15% to 40% bust since prices peaked in 2006.

According to Banco Bilbao Vizcaya Argentaria there’s about 800,000 to 1.4 million unsold homes scattered across Spain, including Costa del Sol. The bank estimates it’ll take about two years to absorb this supply but I think it’s looking more like three years or more. There isn’t a week that goes by whereby banks aren’t repossessing residential property.

Spain's Afirma says signing refinancing deal

MADRID, June 29 (Reuters) - Spanish real estate company Afirma (AFRA.MC) said on Monday it was in the process of signing agreements with creditor banks to refinance around 1.4 billion euros ($1.96 billion) of debt.

"The chairman told the AGM that the debt refinancing agreement has started to be signed," a spokesman for the company said. (Reporting by Ben Harding; editing by Sarah Morris)

Celebrities and luxury property leading the way in the Portuguese real estate market

It may be that footballer Cristiano Ronaldo and actress Angelina Jolie know a thing or too about real estate investment as both are reported to be seeking property in Portugal, but they are not the only ones and an increasing number of inquiries are helping to revive the market in a country that has often been ignored in favour of its more gregarious and flashy neighbour, Spain.

But Portugal has never been as brash as Spain and certainly never seen the huge number of apartment and villas that have become one of the causes of the property crash in Spain.

Golf has always been, and still is, one of the big draws of Portugal. It has built up a niche market, according to analysts, and although there are still second home buyers who seek out renovations.......

Spain's Metrovacesa To Keep 26.9% Stake In Gecina

Spanish real-estate company Metrovacesa SA (MVC.MC) said Wednesday it has decided not to go ahead with a 2007 separation agreement and therefore keep its 26.9% stake in France's Gecina (GFC.FR) as well as its five representatives in the French company's boardroom.

In a filing to the Spanish stock market regulator, the company said that after studying the current situation it has decided "that it's not possible to complete the agreement."

Under a 2007 separation accord, the company's management had agreed to swap its stake in Gecina for real-estate assets in France. In April, Gecina said such an agreement would be against the company's best interests and declared the deal void.