Banks under pressure to reduce prices on unsold properties in Spain

The Spanish property market has been recoverying slowly over the last year, prices have stabilised and in some areas are showing increases. However recent reports suggest that the country still faces a large backlog of unsold property, banks still own homes from struggling developers and repossessions. In an effort to reduce bank’s real estate exposure…

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Inquiry into capacity of housebuilding industry

The Communities and Local Government Committee has launched an inquiry into the capacity of the housebuilding industry to meet demand for new homes. The Committee is expected to invite the chief executives of major developers to give evidence. Other areas to be covered by the inquiry include the role of small and medium-sized developers, the skills,…

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