Buy Property Spain - Bankruptcies Lead to Below Value Property
Posted Aug 19, 2009 @ 7:40 am, Viewed by 214 Visitors, Read 232 Times.The Economic Times reported an alarming increase in both individuals and businesses going bankrupt for the first six months of this year. 3,285 bankruptcies have taken place, that is more than 3 times that of the same period last year. The National Statistics Institute that business made up 515 of the total figure.
Firms and the self-employed accounted for all but 515 of the filings, the National Statistics Institute (INE) said Wednesday.The construction and housing industries are worst hit acounting for 32% of the ill- fated filings, further demonstrating how dependant property related businesses are within Spain.
As a company we are noticing a significant increase in auction property within the Costa Del Sol, all at absolute rock bottom prices, many of which are a result of the aforementioned bankruptcies. There are examples of both commercial and residential property being bidded for at what I would regard as derisory levels, some of these offers, however are being accepted.
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Accurate,
It's almost the same in Panama
A few days ago I was reading a web page statistics for one of the best companies in Panama Real Estate Real Estate Corp Tribaldos call,
it indicated a large population growth in tourism in this country which increased a large number of housing projects like houses, apartments, beach houses and especially rental housing in this country, that's why one of the best blog eh found on the subject is Mr. Garcia because it shows the reality of many of our countries facing this case, first the lack of housing and other jobs, but countries like Panama, Puerto Rico, Nicaragua and others are predicting Large sales of homes and employment for people known the subject of housing projects is impressive and makes you think how do they do? or what the secret to small countries such as Panama may have in the 2009 2010 period in all of its sales success.
Evidence of them is on the main page of this real estate company
http://www.tribaldos.com.pa