June 2011 Archive

Wednesday 29th June 2011

Air Traffic Rises across Spain in May 2011

From Moodies Report

SPAIN. Aeropuertos Españoles y Navegación Aérea (AENA), the country’s airport and air traffic control authority, posted a +6.4% year-on-year increase in passenger traffic in May to 17,883,637.

Madrid-Barajas Airport experienced a -1.7% decline to 4,213,488 but Barcelona El Prat Airport posted a +22.3% surge to 3,072,750.

All top ten airports, other than Madrid, posted year-on-year growth. Pallama de Mallorca was up +6.8%, Malaga +9.8% and Alicante +7.3%. Tenerife Sur was the fastest riser, up +22.1%.

For the first five months, passenger numbers across the AENA network rose by +8.5% to 75,001, 913.

Madrid-Barajas Airport experienced a +1.3% gain to 19,516,202, while Barcelona El Prat Airport posted a +20.0% increase to 12,639,500

All top ten airports posted year-on-year growth for the period.

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Thursday 23rd June 2011

Housing Market in Spain predicted to bottom out

The Spanish housing market has been predicted to “bottom out” in the next year, providing an ideal environment for international property investment.

JP Morgan Chase said Spanish property will be available at bargain prices in the next 12 months, before starting to recover.

New rules that banks must adhere to by September, set down by the Spanish government, is expected to see lenders selling off their property assets to try and increase their capital.

Banks are also easing back on their lending criteria for distressed property in a bid to encourage investors, meaning borrowers can get up to 100% mortgages.

In a statement, JP added: “There is still some way to go, given the large overhang of land, further write downs to come and further de-gearing by property companies and banks.”

Copyright © Press Association 2011

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