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Why Spain’s Property Prices Are Rising Much Faster Than In The Rest Of Europe

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Property price increases in Spain in 2024 were three times that of the eurozone and double that of the EU, with experts pointing to a number of underlying factors causing the rises.

New data has shown that property prices in Spain are rising faster than almost anywhere else in Europe.

Spain was the second country in terms of price rises across the Eurozone in 2024 – 11.4 percent – behind only the 11.6 percent rise recorded in neighbouring Portugal.

For context, in Italy the annual rise was 4.5 percent, in Germany 1.9 percent and in France prices decreased by -1.9 percent.

The Eurozone average was 4.2 percent, while in the EU more widely prices grew by 4.9 percent. 

Even on a quarterly basis, Spain stands out. The increase in Spain during the fourth quarter of 2024 was 1.8 percent compared to the previous three months, when it had been 2.8. However, this still represents a tripling of the quarterly rate for the Eurozone and more than double the EU as a whole, where the increases were just 0.6 percent and 0.8 percent, respectively, according to Eurostat data.

Experts point to a number of factors, including Spain’s strong economic performance pushing up prices and the underlying structural combination of high demand and low supply in the property market.

READ ALSO: Which foreigners are buying the most properties in Spain?

Domestic economic performance can influence property markets, according to property experts. “Since the pandemic, the behaviour of housing has been very different from country to country,” José García Montalvo, professor at the Pompeu Fabra University, told El País.

“The dynamics of the economic cycle have a strong influence on the dynamics of housing prices,” he adds. 

Judit Montoriol, chief economist at Caixabank Research, shares this view: “In the last year, Spain is one of the places where house prices have risen the most, but it is also a year in which it has stood out very positively as the best performing European economy.”

This partly explains why prices in Spain have continued rising in recent years, and are now almost 20 percent more expensive than at the start of 2022 when Russia invaded Ukraine. 

The inflationary crisis that came from that was experienced across Europe, and yet Spain still stands out for its price rises.

Analysis from Bank Inter shows that there are several other contributing factors. Growth in demand for housing, spurred by population growth mainly driven by foreigners, plays a large part.

A Bank of Spain report points out that the demand for housing has been driven, to a large extent, by population growth and the arrival of non-residents. It highlights that foreigners now represent more than 20 percent of housing purchases in Spain, reaching a volume of 130,000 units per year. 

Often they are wealthier foreigners who inflate the market. The average price per m/2 of housing purchased by non-resident foreigners in 2023 was 70 percent higher than that of resident nationals.

The other side of the equation is the lack of supply. According to INE data, the construction of new housing remains low in Spain at around 90,000 homes per year. Yet calculations from the Banco de España estimate that Spain will have a shortfall of 600,000 homes by 2025.

Experts also point to rapidly rising rents also inflating the property market and putting up prices. In many cities, average rental prices are up by as much as 10 percent year-on-year. Staggeringly, the price rise on room rentals is 90 percent when compared to figures from 2015, according to new data published by property portal Idealista. In many of Spain’s provincial capitals, average rents are north of €1,000 per month.

Monetary policies at the European level could’ve also contributed to price increases in Spain because the European Central Bank’s interest rate cuts in recent months are another factor driving housing demand. 

According to the forecasts of Bankinter’s Analysis team, the ECB’s cuts and the forecast of further reductions will cause the Euribor, the rate tied to most mortgages in Spain, to continue to moderate, easing credit, making buying more attractive and bringing more buyers into the market.

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Eight Films And Series About Pope Francis

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John Paul II was a Pope who was a great fan of cinema, who even worked in a theater company in Nazi-occupied Poland and wrote three plays (later adapted into films). Francis was a Pope who loved film and television, and who understood how to spread his message through the screen. Whether in fiction or factual documentary, Jorge Mario Bergoglio starred in the following productions:

‘Francis: Pray for me’ (2015)

Darío Grandinetti, as the Pope in 'Francis: Father Jorge.'

Director Beda Docampo Feijóo (born in Spain, but Argentinian, as his family emigrated when he was just a few months old) cast Darío Grandinetti as the Pope shortly after the start of his papacy (he was elected on March 13, 2013). In reality, through the eyes of a Spanish journalist, played by Silvia Abascal, who is writing a report on Francis, the audience is taken through Bergoglio’s entire life (and thus he is played by three actors of different ages). Francis: Father Jorge offers a somewhat stiff portrait. Available on DVD, but not on streaming platforms.

‘Call Me Francis’ (2015)

Another work that attempts to get closer to the Pope before he was appointed Bishop of Rome. An Italian production, although with a mostly Argentinian cast, it was directed by a capable Daniele Luchetti (My Brother is an Only Child). The film version, at just over 90 minutes long, was screened in a Vatican theater in 2015. The other version, the four-hour miniseries (Chiamatemi Francesco), covers 52 years of Francis’ life, from 1961 to his election in 2013, and was released in 2016. As a young man, he is played by Rodrigo de la Serna (who takes up most of the film); as an adult, by Sergio Hernández. The film is available on Tivify, and in Latin America on Netflix.

‘Pope Francis: A Man of His Word’ (2018)

Wim Wenders premiered his film at the Cannes Film Festival, where the German director joked that the protagonist wouldn’t attend the event “because it’s Sunday and he’s working.” The documentary is essentially a hagiography in which the viewer accompanies the Pope on his travels, with images interspersed with interviews Wenders conducted with the Pontiff to elicit his opinions. For the most controversial topics, the filmmaker uses a conversation with Bergoglio on the papal plane during one of his trips. Francis is a good protagonist: he knows how to speak to the camera, is convincing and elegant in his speeches, quotes Dostoevsky, jokes with his audiences, and cries out against the mistreatment of nature and the prevailing economy, which pushes many human beings to the margins of society. Available on Apple TV and Prime Video.

‘The Two Popes’ (2019)

Jonathan Pryce, as Pope Francis in ‘The Two Popes’

In the history of the Catholic Church, there had never been cohabitation between a retired Pope and a sitting one, a fascinating process that Fernando Meirelles recounted in The Two Popes with Jonathan Pryce as Francis and Anthony Hopkins as Benedict XVI. The script is the work of Anthony McCarten, an expert in biographical film stories, and he succeeds when he launches into fictionalizing the conversations. The two actors and the script were nominated for an Oscar. Pryce was chosen for his undeniable resemblance; and the film was titled The Pope until Hopkins was cast and his agent imposed the change. Available on Netflix.

‘Francesco’ (2020)

Russian documentary filmmaker Evgeny Afineevsky (who has made two excellent films on the wars in Ukraine and Syria) explored the figure of Francis through his messages on controversial topics, using all kinds of archival materials. For those convinced of the cause. Available on Apple TV.

‘Stories of a Generation with Pope Francis’ (2021)

A four-part series filmed with people over 70 in front of the camera. It features a diverse cast of unknown faces, from a Nigerian artist, a South African photographer, and a Vietnamese shoemaker, to Martin Scorsese, Jane Goodall, and, of course, Pope Francis, who hovers over the entire film. Their reflections cover love, life’s struggles, work, and dreams both fulfilled and yet to be fulfilled. Available on Netflix.

‘The Letter: A Message for our Earth’ (2022)

Produced by YouTube Originals, and therefore accessible in its entirety on the platform, this documentary by Nick Brown (an expert in nature films) describes Francis’ encounters with various people directly affected by the climate crisis. The encyclical Laudato Si is set in the background. Available on YouTube.

‘In Viaggio, Traveling with Pope Francis’ (2022)

Star Italian documentary filmmaker Gianfranco Rosi accompanied the Pope on several of his trips to complete a portrait of a Pontiff who visited 53 countries in his first nine years in office. The film was nominated for a David di Donatello, the Academy of Italian Cinema’s annual awards. Available on Apple TV.

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Francis’ Fight Against Pedophilia: A Thorny Challenge

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In 2018, EL PAÍS launched an investigation into pedophilia in the Spanish Church and has an updated database of all known cases. If you are aware of any cases that have not been reported, please write to us at: abusos@elpais.es. If the case is in Latin America, the address is: abusosamerica@elpais.es.

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Clerical pedophilia was Pope Francis’ most difficult battle during his 12-year pontificate, and although he personally committed himself to it, often making radical decisions, the rest of the hierarchy — the bishops and the Vatican bureaucracy — did not always support him. He issued regulations, always delivered harsh speeches, and exuded humanity in his encounters with victims, but the thorough cleansing and acceptance of the truth, the effective implementation of his reforms, did not depend solely on him.

Francis moved in fits and starts, but there is still much to do; he was unable to handle everything alone. A common criticism from victims’ associations around the world is that this has been an era of fine words and many measures, but little progress. In the uneven balance of this battle, the case of Spain is significant: the Pope always looked the other way. Despite the investigation by EL PAÍS, which has already revealed hundreds of cases, Francis decided to delegate management of the problem to the Spanish Church and not confront it. The result has been years of denial, inaction, and opacity, with little or no progress.

When Jorge Mario Bergoglio took the Chair of St. Peter in March 2013, he continued the line of his predecessor, Benedict XVI; no obvious about-face was noticed. He assumed the Church had already reacted. Indeed, one of his first decisions was to reject the U.N.’s request that year to remove “from their posts and hand over to the police all those found guilty of sexual abuse of minors.” Francis resisted. “The responsibility lies with the judicial system,” the Holy See responded.

The Argentine pope had many open fronts, and among all the reforms he implemented, he decided in March 2014 to create an ad hoc body, the Pontifical Commission for the Protection of Minors. However, over the years, it has contributed little and has gone through moments of crisis itself, with open criticism from some members regarding its ineffectiveness and denunciations of internal difficulties. The commission took almost 10 years to produce its first report, presented in October 2024, without impact figures or critical assessments of already known problems.

It took five years for anything to change, due to a first personal experience with the scandal that altered the Pope’s position: the abuse cases in Chile. During his January 2018 trip to Chile and Peru, along with a heated welcome in Santiago, he also encountered protests from a group of victims attacking the bishop of the city of Osorno, accused of covering up pedophiles.

The victims of the sexual assaults by priest Fernando Karadima received a terse response from the Pope: “There is not a single piece of evidence against him.” But that episode stirred him inside, especially after meeting with some of the victims, an experience that deeply moved him. He also realized that the information he was receiving from the bishops was unreliable. He then ordered his own investigation into the case by two of his most trusted men, the Bishop of Malta, Charles Scicluna, and the Spanish priest Jordi Bertomeu. The outcome of their report was devastating, forcing the Pope to acknowledge in a letter to the Chilean community that he had “made serious errors of judgment.” He summoned all of Chile’s bishops to the Vatican and forced them to resign en masse in June 2018.

After the Chilean Church’s hecatomb, the scandal seemed to spill over, with new cases in other countries, from Germany to Australia, sometimes accusing prominent figures, such as Cardinal and Archbishop Emeritus of Washington Theodor McCarrick, who was eventually expelled. The French Episcopal Conference also announced the launch of a major independent investigation, which concluded in 2021 with a report citing more than 330,000 cases.

Similarly, the scandal began to emerge in Spain, thanks to a report by EL PAÍS. In October 2018, this newspaper launched an investigation that, in its first article, counted only 34 convictions for ecclesiastical pedophilia in the previous 30 years. Today, this newspaper’s database, the only one in Spain that tracks the phenomenon, lists 1,550 accused and 2,870 victims. These figures were obtained with little cooperation from the Spanish Church, which denied the problem and replied that there were “few cases.”

Faced with an avalanche of cases worldwide, in 2018 Francis thanked the press for their work, called the Church hierarchy, which looked the other way, “wolves” and convened bishops from around the world to a summit at the Vatican dedicated exclusively to pedophilia.

In February 2019, the Pontiff approved a major reform of canon law, a motu proprio called Vos estis lux mundi, which required investigations of pedophile clerics upon knowledge of any clue, even delivered anonymously, or reports in the press. Until then, for the Church, victims who appeared in the media did not exist, only if they went to a bishop or the superior of a religious order.

Francis also opened avenues for reparation for those affected and included cover-ups as a serious crime. In 2019, the Vatican published a vademecum with rules for handling cases, required each diocese to open victim assistance offices, and lifted the papal secrecy surrounding these crimes.

In Spain, however, the Church resisted investigating past cases and revealing what it knew. Even at the beginning of 2021, the Episcopal Conference (CEE) was still maintaining that there were “zero or very few cases” in Spain. By then, this newspaper had already counted 243 accused and at least 550 victims.

Francis did not comment on what was happening in Spain until the Vatican finally issued a brief statement in support of the Spanish victims, when in December 2021 EL PAÍS handed the Pope a report with 251 previously unpublished cases. The impact of this work led the Spanish parliament to commission an independent investigation by the Ombudsman, and the Episcopal Conference was finally forced to undertake its own investigation: although it always said it would never do so, it commissioned an audit from a law firm.

This newspaper submitted four more reports in the following years, with a total of 783 accounts in more than 1,600 pages. The Vatican has never responded to this, delegating everything to a Spanish Church that, today, has nearly 70 bishops and religious superiors accused of covering up or silencing cases.

The Pope did not even react in 2023 to the survey in the Ombudsman’s report, which estimated the percentage of abuse victims in the Spanish Church at 1.13% of the entire population, equivalent to about 440,000 people, according to media estimates. It was a strange silence, considering his criticism of the handling of the scandal following similar studies and reports in countries such as the United States, France, Portugal, and Italy.

What is known about the scandal is, in reality, the tip of the iceberg, according to experts, and the Church has continued to move with its usual reluctance and opacity. In each diocese, the bishops continue to do as they please, and when complaints reach Rome, they get bogged down in bureaucracy.

Francis achieved occasional changes, through sporadic impulses, and often nothing happened if victims or journalists managed to interview him and tell him their story. An example is the Gaztelueta case, an Opus Dei school in Biscay in the Basque Country, which was canonically closed despite the Supreme Court’s condemnation of the accused teacher. However, after speaking with the victim, Francis ordered it reopened, resulting in the expulsion of the pedophile.

The same thing happened with the case of the Sodalicio de Vida Cristiana, a powerful ultraconservative organization in Peru. The first complaints were filed in 2001, then more reached the Archbishopric of Lima in 2011. In 2015, the scandal erupted via a book written by two journalists, Paola Ugaz and Pedro Salinas, but still no action was taken until the two reporters went to Rome to see Francis in person in 2022, to tell him personally what was happening.

Then the Pope again commissioned Scicluna and Bertomeu to conduct their own investigation. In less than three years, the Sodalicio was dissolved, this very month. But if the journalists hadn’t gone to see the Pope, perhaps nothing would have happened. Thousands of victims around the world haven’t been that lucky, and are still waiting for an answer.

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New Study Reveals That Walking Every Day Can Add 10 Years To Your Life Expectancy – Olive Press News Spain

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A NEW study has revealed that something as simple as going for a daily walk could dramatically extend your life – by up to a decade.

The research, published in the British Journal of Sports Medicine, shows that people who walk regularly, even at a moderate pace, could significantly boost their life expectancy compared to those who lead sedentary lifestyles. 

In some cases, the increase in lifespan could be as much as 10 or 11 years.

READ MORE: Three signs your heart health is at risk, according to leading Spanish doctor

The findings are the result of a detailed analysis using data from the US National Health and Nutritional Examination Survey and mortality records from the National Centre for Health Statistics. 

Researchers focused on adults over the age of 40 and used device-measured physical activity to evaluate its long-term health impact.

Their model found that if everyone were as active as the most physically engaged 25% of the population – those walking nearly three hours a day at around five km/hour – life expectancy could rise to 84 years on average. 

That’s a gain of over five years compared to current population norms, and in some lower activity groups, benefits may be even greater.

One striking finding revealed that individuals in the lowest quartile of activity could gain around six extra hours of life expectancy for every additional hour of walking they do.

Even those walking just under two hours a day – around 111 minutes – could gain up to 11 years of life, researchers estimated.

But the researchers were keen to point out that exercise is only one piece of the puzzle.

A well-rounded lifestyle, including a balanced diet, sufficient sleep, and effective stress management, plays a complementary role in achieving healthy ageing.

The authors call for greater investment in policies and environments that promote physical activity, noting that boosting physical activity levels across the population could translate into substantial gains in national life expectancy.

The takeaway is clear: walking might be the simplest path to a longer, healthier life.

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