Connect with us

Latest

Too Many Holiday-Homes Is Not Spain’s Coastal Housing Problem

Published

on

too-many-holiday-homes-is-not-spain’s-coastal-housing-problem
Predominantly holiday-home urbanisation of the Costa Brava

Spain’s coastal housing problem is not too many holiday homes, but too little housing supply. Restricting second homes and tourist accommodation won’t fix that — making it easier and cheaper to build might.

Appraisal-company Tinsa has done some research into the question of housing supply, demand and prices on the Spanish coast in its new Housing on the Coast 2026 report. The numbers are interesting. The interpretation deserves a closer look.

Coastal house prices rose 13.5% year-on-year in the first quarter of 2026, whilst new-build permits increased 21.7% last year. Demand remains strong, though there are signs of it losing momentum in some areas.

Much of the report is framed around another finding: homes on the coast are increasingly unaffordable for people on local incomes, with the theoretical cost of buying reaching 40% of average disposable household income. From there it is a short step to the familiar narrative about second homes, holiday lets and tourist demand squeezing locals out of the market.

But there is another way of reading the same numbers.

A second-home market is supposed to attract second-home buyers

Large stretches of the Spanish coast are primarily holiday, retirement and second-home markets. Comparing local salaries with the price of villas and apartments bought by wealthier households from Madrid, northern Europe or elsewhere tells us something interesting about those markets, but it does not necessarily identify Spain’s main housing problem.

The more serious affordability problem is where households need homes close to employment and services, particularly in and around major cities and other high-demand economic centres.

And here the evidence increasingly points back to supply.

The Bank of Spain describes the rigidity of Spanish housing supply as structural, citing problems developing build-ready land and the complexity of planning and land-management procedures. It says these constraints prolong construction times and identifies supply inelasticity as the main cause of housing affordability problems.

The OECD similarly identifies limited buildable land, lengthy and uncertain planning procedures, rising construction and labour costs, and regulatory uncertainty as barriers to new supply, particularly for lower-margin affordable and rental housing.

Builders follow the money

That helps explain another revealing feature of the coastal market. Although construction is increasing, much of it is concentrated on holiday homes, where developers can earn better margins. The report itself notes that new construction remains constrained by land availability, building costs, labour shortages and regulatory uncertainty, while developers favour more profitable holiday housing.

That should hardly come as a surprise. When housing is expensive, slow and risky to produce, developers have an obvious incentive to build for buyers with the deepest pockets.

Nor is restricting tourist and holiday accommodation necessarily turning those properties into ordinary homes. Despite a significant increase in regulation, the report acknowledges that this has not so far produced either more housing for permanent residents or lower prices.

The bigger story suggested by these numbers is therefore not that Spain has too many holiday homes. It is that housing supply struggles to respond to demand. The coastal luxury market is one very visible consequence of that problem, rather than necessarily its cause.

Celta de Vigo

El Celta Cae En Chipre Y Traslada Su Mal Inicio De Temporada A La Liga Europa

Published

on

el-celta-cae-en-chipre-y-traslada-su-mal-inicio-de-temporada-a-la-liga-europa

El Celta sigue sin encontrar el camino de la victoria en este arranque de temporada. Tras no lograrlo en LaLiga, tampoco pudo estrenarse con buen pie este miércoles en la fase de liga de la Liga Europa, donde cayó derrotado en el último suspiro ante el Omonia Nicosia chipriota.

OMOOmonia

1

Fabiano Ribeiro de Freitas, Senou Coulibaly, Jure Balkovec, Jean-Kévin Duverne, Lubomír Satka, Jaden Montnor (Florin Tanase, min. 93), Mateo Maric, Panagiotis Andreou, Ewandro (Mihlali Mayambela, min. 92), Muamer Tankovic (Luuk Brouwers, min. 62) y Loïs Diony (Andronikos Kakoullis, min. 74)

CELCelta

Ionut Radu, Carl Starfelt, Marcos Alonso, Javi Rodríguez, Miguel Román, Sergio Carreira, Álvaro Núñez (Borja Iglesias, min. 77), Couhaib Driouech (Williot Swedberg, min. 55), Hugo Burcio (Aleix Febas, min. 71), Pablo Durán (Hugo Álvarez, min. 71) y Ferran Jutglà (Hugo González, min. 55)

Goles 1-0 min. 87: Jure Balkovec

Arbitro Balazs Berke

Tarjetas amarillas Williot Swedberg (min. 67)

La visita a Chipre se presentaba como una buena oportunidad para que el conjunto vigués dejara atrás las dudas mostradas durante este primer mes de competición. Sin embargo, pese a la teórica inferioridad de su rival, el equipo gallego comprobó que en Europa cualquier bajón de rendimiento se paga caro. El Omonia acabó imponiéndose con un gol cerca del minuto 90, justo cuando los de Claudio Giráldez más presionaban en busca del triunfo.

El Celta volvió a mostrar dificultades en ataque. Aunque mejoró tras el descanso, evidenció una vez más la falta de fluidez ofensiva que sí exhibió la pasada campaña. El equipo encadenó su cuarto encuentro sin marcar en siete partidos y continúa con un pobre balance de solo tres goles en lo que va de temporada.

El mal momento futbolístico se hizo notar en el encuentro. El equipo fue creciendo durante la primera mitad, pero volvió a mostrarse inofensivo en ataque y apenas puso en aprietos al guardameta Fabiano. Más exigido estuvo Radu, uno de los jugadores más destacados del Celta en este inicio de curso, que realizó dos intervenciones de mérito, especialmente una ante Ewandro nada más comenzar el encuentro.

Tras el paso por vestuarios, el conjunto gallego elevó su nivel y fue imponiendo poco a poco su mayor calidad frente a un Omonia menos agresivo. Sin embargo, su dominio se tradujo principalmente en posesión, sin generar un número significativo de ocasiones claras, aunque sí logró inquietar con más frecuencia a los locales en el tramo final.

Miguel Román obligó a Fabiano a intervenir con una buena parada y Marcos Alonso estuvo cerca de adelantar a los visitantes, pero su remate de cabeza fue despejado por la defensa cuando parecía destinado al 0-1. Cuando todo apuntaba a un reparto de puntos, apareció Balkovec en el minuto 88 con un potente zurdazo desde una posición escorada que sorprendió a Radu y condenó de nuevo al conjunto vigués a la frustración.

Clasificación

Clasificación PT PJ PG PE PP
4

JAG

3 1 1 0 0
5

BLE

3 1 1 0 0
6

OMO

3 1 1 0 0
7

AZ

1 1 0 1 0
8

DZA

1 1 0 1 0
Clasificación PT PJ PG PE PP
30

VIK

0 0 0 0 0
31

CEL

0 1 0 0 1
32

CEL

0 1 0 0 1
33

MIL

0 1 0 0 1
34

OLY

0 1 0 0 1

Continue Reading

Audiencia Nacional

El Gobierno Muestra Su “perplejidad” Por El Freno De La Audiencia Nacional Al Campamento Para Inmigrantes Del Puerto De Ceuta

Published

on

El Gobierno no oculta su “perplejidad” ante el freno impuesto por la Audiencia Nacional al traslado al Puerto de Ceuta de buena parte de los migrantes que recorren las calles de la ciudad autónoma después de la entrada masiva del 30 y 31 de julio pasado. La Audiencia ha ordenado al Ministerio de Transportes frenar momentáneamente los trabajos para instalar en el recinto portuario el campamento temporal en el que el Ejecutivo pretende alojar a más de 1.000 de los migrantes irregulares que aún permanecen en la ciudad.

Según fuentes de La Moncloa, la decisión de la Audiencia “frena una solución operativa inmediata sobre el terreno”. Las mismas fuentes apuntan que “la medida paraliza un operativo logístico que estaba listo para ejecutarse de forma inminente, que iba a permitir alojar a 1.700 personas, diseñado con criterios estrictamente humanitarios y de orden público”.

Las instalaciones temporales están proyectadas para la zona del muelle de Poniente del Puerto de Ceuta, con objeto de alojar, entre otros, a numerosos migrantes que malviven en las chozas de la playa de El Trampolín.

La decisión judicial de este miércoles se produce después de que el Sindicato Unificado de Policía (SUP) presentara un recurso en el que pedía la suspensión inmediata de la puesta en marcha de la instalación, proyectada sobre 16.000 metros cuadrados de las parcelas de la ampliación de Poniente del puerto, “hasta que se acrediten las condiciones de compatibilidad portuaria, protección, emergencias y prevención de riesgos laborales”.

El Ejecutivo defiende que estos terrenos dentro del puerto ceutí son “los más idóneos” y “cuentan con todas las garantías de seguridad para llevar a cabo el operativo”. La Moncloa entiende que garantizar condiciones dignas de acogida a los migrantes que ahora pernoctan enla calle “es una prioridad”, además de la principal demanda de los ceutíes y del Gobierno de Ceuta, una ciudad que “no puede esperar”. Por eso pide “agilidad” y “que se actúe de forma inmediata para aportar soluciones a esta situación sobrevenida”.

El sindicato alegaba que la decisión de levantarla no había sido notificada ni publicada en el BOE, y justificaba su oposición a la misma en que la acogida de un número tan elevado de personas en lo que es una instalación crítica suponía un riesgo. “Los recientes incendios registrados en distintos asentamientos de Ceuta evidencian además la necesidad de evaluar previamente los riesgos de incendio, evacuación y actuación ante una emergencia, tanto para las personas acogidas y los usuarios y trabajadores del puerto como para los policías que tendrán que intervenir”, señalaba el sindicato en la nota de prensa con la que anunciaba el martes su iniciativa judicial.

Previo a la reacción de La Moncloa, el portavoz del PSOE en el Congreso, Patxi López, criticó la decisión de la Audiencia al entenderque no se debería “frenar” esta solución a la actual crisis en la ciudad autónoma. “Me parece que cuando estamos buscando soluciones, nadie debería frenar las soluciones”, reprochó los pasillos del Congreso al finalizar la sesión plenaria.

Continue Reading

Donald Trump

The Federal Reserve Defies Trump With A Unanimous Rate Hike Six Weeks Before The Midterms

Published

on

the-federal-reserve-defies-trump-with-a-unanimous-rate-hike-six-weeks-before-the-midterms

Kevin Warsh has been chair of the Federal Reserve for just four months, but this Wednesday will be remembered as the day he showed that he and his fellow governors, not outside forces, are the ones truly steering U.S. monetary policy. The Fed has done exactly what U.S. President Donald Trump did not want it to do under any circumstances: raise interest rates just six weeks before the midterm elections, in which Republicans risk losing control of Congress.

With this move, Warsh, a conservative billionaire appointed by Trump, has shown that he is serious about his commitment to fighting inflation, even if it means harming the electoral interests of the man who chose him in the belief that he would comply with his desire to make the United States the country with the lowest interest rates in the world. That has not been the case.

The increase is modest, at 25 basis points. The federal funds rate now stands in a range of 3.75% to 4%. But it is a powerful signal: it is the first rate hike in more than three years. The last came in July 2023. With this decision, Warsh’s Fed is underscoring its determination to bring inflation under control after more than five years in which prices have failed to move anywhere near the central bank’s 2% target.

The decision was also unanimous, ending a year marked by dissenting votes among members of the Board of Governors. That unanimity lends additional weight to the move and strengthens the Fed’s position against the criticism it is almost certain to face. One of the loudest critics is likely to be Trump. On Tuesday, he attacked the Supreme Court, particularly the three conservative justices he appointed during his first term, for ruling against his attempt to alter mail-in voting rules just weeks before the November 3 election. The three justices defied him, and now Jerome Powell’s successor, another Trump appointee, has done the same. Powell, too, eventually became a frequent target of Trump’s attacks.

Another significant takeaway is that Fed officials do not expect this to be the last increase. All but two members of the Board of Governors believe interest rates will need to rise again before the end of the year. Four policymakers anticipate two additional increases, according to the Fed’s latest projections. Warsh, who is reluctant to offer markets guidance about future decisions, does not participate in that forecasting exercise.

The Fed justified its move in a statement arguing that economic activity continues to expand at a solid pace despite heightened uncertainty, partly driven by geopolitical developments. “Job gains have kept pace with the workforce, and the unemployment rate has changed little. Inflation remains elevated. Today’s policy action will support a timelier return to the Committee’s 2% goal. The Committee will deliver price stability,” the statement said.

The rate hike came as no surprise to economists or to financial markets. Warsh had already signaled such a move at the Jackson Hole symposium in August. At the time, he said: “It’s the Fed’s job to make sure that inflation expectations do not get unanchored. […] We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do. That’s our job.”

A few days later, inflation data appeared to vindicate those arguing that the U.S. economy needed some cooling. Employment figures remain strong, but consumer prices in August held stubbornly at 3.4%, still a long way from the Fed’s 2% objective.

Trump’s threats

In recent days, Trump has escalated his attacks on the Fed, whose independence from the executive branch has been upheld by the Supreme Court. The president warned that unless interest rates were cut sharply, he would move to halt a significant portion of U.S. trade.

“LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged ‘the President’ has an absolute right to do,” Trump said in a rambling post on his social media platform, Truth Social. Later that day, speaking from the Oval Office, he complained that other countries enjoyed lower borrowing costs than the United States and called on the Fed “to be patriots.”

Meanwhile, the war in Iran, which shows no signs of a near-term resolution, and the widening conflict involving Yemen’s Houthi rebels have kept oil prices above $100 a barrel, pushing up gasoline prices in the United States and threatening to fuel further inflationary pressures.

Before Friday’s decision, several analysts had warned that if Warsh wanted to preserve the Fed’s credibility as an institution capable of acting free from political interference, he had little choice but to raise rates. Doing otherwise might have pleased Trump and perhaps provided a modest boost to long-term growth prospects, but it would have pushed the goal of bringing inflation under control further out of reach and, above all, dealt a serious blow to the central bank’s independence.

Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition

Continue Reading
Advertisement
Advertisement

Spanish Real Estate Agents

Tags

Trending

Copyright © 2017 Spanish Property & News