Page 34 - Property Portfolio - October 2019

NewsDigest Property Portfolio, in conjunction with property
portals Kyero & Tinsa, and press articles
relating to Spain, brings you a few of the news
headlines with a property and economic bias.

New tourist attraction underway

A fantastic new project is set to connect the Companies interested in bidding for a contract
villages of Canillas de Aceituno with nearby to build the Axarquía’s answer to the Caminito
Sedella via a walkway and hanging bridge, similar del Rey have now submitted their proposals
to the Caminito in Álora and Ardales. Much of and once awarded, the project, which has a
the walkway is already in place but needs to be budget of 554,506 euros is expected to take
improved and a bridge will be constructed 54 eight months to finish and mayor of Canillas de
metres above the Almanchares river. Aceituno, Vicente Campos hopes it will be ready
The area, known as El Saltillo, forms part of the “by the end of next year”. We await 2020 with
Great Malaga Trail (Gran Senda) which, when bated breath! (source The Sur). n
complete, will connect inland villages in the
province via a series of footpaths.

Mortgage lending volumes in August 2019

Provisional data from the Association of calculate interest payments on most mortgages
Spanish Notaries shows new residential loans in Spain, came in at -0.339 on average in
up 2.3% to 15,859 signings in August with an September compared to -0.166 the same time
average value of €133,116, up 4.6%. However, last year, so more than twice as low as it was a
mortgage lending was down 20.4% in July, so year ago. As a result, borrowers in Spain with
it is likely that overall new lending in Q3 will be annually resetting Spanish mortgages based on
lower year-on-year once the data for September Euribor will see their repayments fall by around
is published. €9 per month for a typical €120,000 loan with a
The 12-month Euribor, the base rate used to 20 year term. (source Mark Stücklin) n

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