Apr
17

Spain’s Banks Drawn Back to Homebuilder Loans as Sales Surge

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  • Residential sales in Spain surge 27 percent in January
  • Madrid and Barcelona to lead future house-price growth

Some Spanish banks are advancing more loans to home builders and cutting their borrowing costs, eight years after they froze credit for construction as the nation’s property bubble burst.

CaixaBank SA, Spain’s third-largest bank, will this year lend 1.4 billion euros ($1.6 billion) for developer financing, more than twice the amount in 2015, the lender said. Banco de Sabadell SA gave 850 million euros in loans to build homes in Madrid and Barcelona last year as the value of some new-builds rose as much as 10 percent, said Joan Bertran, head of real estate investment at Spain’s fifth largest bank…

Spain’s Banks Drawn Back to Homebuilder Loans as Sales Surge

 

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