Category Archives: Economics

Rental income under scrutiny

These days the Spanish tax authorities are focusing on undeclared rental income. This applies to both short and long term rentals. Those who use the new service to declare their income…

Santander Bank is closing several offices

Spain’s largest bank, Banco Santander, is planning to close nearly 450 offices throughout Spain in an effort to reduce costs and improve profitability. The closures means that 13% of the…

Record low interest rates

The EURIBOR interest rate is now at record low levels. This means opportunities to get very low interest payments on your mortgage. At the end of February the interest rate landed on the minus…

Car sales increasing

Sales of new cars is increasing sharply in Europe. September was the 25th consecutive month with increase and especially in Spain the growth is strong. Compared to last year the registration of new cars…

Spain’s credit rating upgraded

The long-term credit rating for Spain is raised from BBB to BBB+, while the short-term credit rating however is at A-2. It is the US credit rating agency Standard &…

Property prices are increasing

In the financial institution Bankinters last half-yearly report on the state of the Spanish property sector, it is expected an increase in property prices of 5% in 2016. The Madrid-based…

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Average salaries in Spain

The Spanish Central Bureau of Statistics, Instituto Nacional de Estadística (INE) has published a survey that sheds light on wage differences in Spain. The survey covers the year 2013, but…

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House prices are increasing

The quarterly report that was published by INE on March 9 shows that on an annual basis, prices increased in 2014 in all the popular areas of Spain. INE “Instituto Nacional de…

Spain’s economy is growing

IMF has revised the global growth forecasts. Of the major economies, only the United States and Spain gets their growth forecasts revised upwards. Spain is expected to have a growth…

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Banco de España reinforces the control

In the wake of the financial crisis, Europe’s banks are now being more thoroughly controlled. Following the mandate of the European Central Bank in Frankfurt, which applies to all countries of the Union…