Court Receives More Than 1000 Floor Clause Claims in Just Three Months

The only court in the region of Murcia dealing with floor clause claims has reported that 1,074 lawsuits have been filed in the first three months, exceeding expectations considerably.

It had been forecast that around 250 lawsuits would be filed in the first three months, although that figure has more than quadrupled in reality. Despite August being traditionally a quiet month in Spain, particularly in the judicial system which ordinarily has a reduced workload in the summer, the activity created by floor clause claims increased the court’s workload by around 43%.

On June 1st this year, emergency measures were approved by the General Council of the Judiciary (CGPJ) and came into force immediately, after the European Court of Justice ruled that backdated claims should be included in the process. The floor clause issue has also raised other concerns about poor mortgage lending practices including early maturity, interest arrears and multi-currency mortgages, which …

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The Importance of Legalising Unregistered Property Extensions in Spain

Often when considering selling, property owners decide to make improvements or build extensions to their Spanish properties to add value and make them more attractive to prospective buyers. Adding an outbuilding in the garden next to the pool, a few additional guestrooms, building a cellar with home cinema or an indoor heated swimming pool all sound like a great idea on paper but unfortunately, you can find yourself in a bureaucratic nightmare.

The fact is that unless these kind of structural improvements have been approved by the relevant authorities, they may become a complete waste of money and even prevent you from selling your home.

What are the Legal consequences of Unregistered Property Improvements?

There are several risks associated with not following the statutory procedure as follows:

Should your town hall catch you undertaking non-sanctioned improvements on your home you can be heavily fined and forced to pull down the improvements at your ow…
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Resale Homes return to Pre-Crisis Levels to Meet Booming Demand in Spain

According to reports in the Spanish media, transaction levels for resale homes in the country have returned to peak levels of 2007, due to a shortfall of new homes in the construction pipeline.

In the second quarter of this year, 119,408 flats and buildings changed hands, of which 99,343 were resale or secondhand homes, the same level recorded before the property bubble burst. In contrast, the market for newly built homes remains flat with just 20,065 transactions, some way from the 110,000 new units sold in the first six months of 2007.

What has become evident is that the intensified activity in the resale property market reveals strong and rising demand for homes in Spain. In the absence of supply of new homes, buyers are being forced to find what they’re looking for on the resale market, now showing the strongest signs of price growth in the country.

Spain’s Resale Market Returns to Pre-Crash Buoyancy

The total number of property transactions so far in 20…

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