Costa del Sol's Property Specialists

The European Commission (EC) in Brussels today announced that 8 international financial institutions have been fined €1,710 million for their involvement in the coordination and manipulation of the change in prices of financial derivatives which affects the interbank rates such as Libor and Euribor. Among the 8 banks being fined are Deutsche Bank, JP Morgan, Citigroup and Société Générale.

It was stressed by the European Commission that these coordinated operations to manipulate the interbank benchmarks have distorted the normal course of pricing derivatives with particular reference being made towards the Euro and Yen.

Read More

With growing concerns about the strength of the European Stress Tests, the bond market of the Spanish Government has rallied in recent days, reducing the country’s cost of borrowing on the capital markets. With the results of the European Stress Test of big banks due to be revealed on Friday, many investors predict that the Spanish Government will benefit more then its troubled Euro neighbours.

Due to the fact that Spain has an extra interest it has to pay investors to buy its debt, puts Spain in the enviable situation of edging out Germany, which is widely consider the safest borrower. This “risk premium” was 1.64 percentage points on Wednesday compared with 2.1 percentage points just a week ago. Fellow troubled Euro Zone countries such as Ireland, Portugal and Greece have not seen that kind of improvement.

Read More

With the amount of property for sale on the Costa del Sol, it is easy to make mistakes on what you choose to buy as your investment. A Survey will offer peace of mind that is honest, upfront and of a professional opinion. In Europe it is accepted practice that before you buy a new property, you seek professional advice. However, in Spain this has not been the case with recent studies showing only 6-8% of foreign buyers instruct for a professional Survey of the property they wish to buy. Many would agree that the Costa del Sol is the place where you are in even more need of advice.

If any defects are found, the buyer can negotiate with the seller to have them repaired prior to sale or to have the price reduced to cover the costs.

Read More