Amazing news that the European Central Bank (The BCE) has lowered Euribor, the European version of Libor, to 1.5%, the lowest ever recorded.
The question everyone asks is whether this will stimulate the ecomony or not. Some of the banks have been criticised for now lending money. In Spain the president of the governemnt, Jose Luis Zapatero, even called the banks in to give them a roasting over their failure to loosen up lending in spite of the new interest lows.
What has this got to do with snagging? Well, we have seen an increase in snagging and cleaning activity in The Costa del Sol. Clearly our activity in pre and post completion services is a direct reflection of real estate sales and movement. As a company operating in many markets we can see that the area around Marbella is starting to hot up. "Again!" you may say.
In many ways it makes sense, given that the Costa del Sol started having problems a few years ago, before anyone had thought of the credit crunch. So maybe Marbella would come out first. Recovery? Let's hope so!
No comments:
Post a Comment