Italt real estate to grow in 2010

Home | Contact Us | Our Services | About Us
Europa Mortgages - Spanish Mortgage in Spain
Need help with your mortgage? Use our 24-Hour Helpline - Call (+34) 637 451 649
Mortgage Services
Mortgage Enquiries
Mortgage Guide
Mortgage Calculator
Interest-Only Mortgages
Spanish Commercial Finance
Financial News
Documentation Required
Euribor Information
Mortgage Resources
Spanish NIE Numbers
Foreign Currency
Foreign Currency Exchange
Foreign Currency in Spain
Practical Steps
Overseas Mortgage Payments
More Advice on Currency
Spanish Property
Spanish Property
The Village
Spanish Property Rentals
Buyers Guide
Inheritance Tax
Useful Spanish Phrases
Need a mortgage in Spain? Get more information now.
Italt real estate to grow in 2010

News Article Date: Monday 27th of July 2009

The Italian real estate market has stabilised but growth will have to wait until the end of 2010 at the earliest, the chief executive of Italy's Beni Stabili (BNSI.MI) Aldo Mazzocco said on Tuesday. "We are playing in defence but we're glad to do that since most of our European competitors are playing (behind) the goal (line)," Mazzocco said speaking at an analyst presentation. Mazzocco said he expects conditions on the Italian property market to remain tough in the coming months, adding he sees the second half of the year in line with the first half with the same kind of buyer - families and private investors. But if the market has perhaps steadied "we won't see the first signs of growth before the end of 2010, early 2011", he said. Mazzocco said he does not see any big portfolio acquisitions ahead for Beni Stabili but rather selective acquisitions of single assets. "Our strong asset base and management stability will allow us to seize the right opportunities," he said, adding the company's loan-to-value ratio (percentage of the property's value that is mortgaged) is 49 percent "but could easily rise to 70 percent". Beni Stabili, Italy's biggest real estate company in terms of market capitalisation, said on Monday its first half net profit fell 93 percent to 4.3 million euros due to writedowns on property values.
Send us a mortgage enquiry for your mortgage requirements in Spain, France, Portugal, Cyprus, Florida, Dubai and Turkey Click here to send a Spanish mortgage enquiry
Follow our mortgage blog the latest news and often irreverent views Click here to follow our overseas mortgage blog Thanks for reading

- • -

For advice and a free quotation please fill out a Spanish mortgage enquiry.

Home | Mortgage Enquiries | Our Services | About Us | Contact Us | Mortgage Resources
Europa Mortgages - Tel (+34) 637 451 649 - Fax +44 207 681 1265
© 2004-2007 Europa Mortgages SC (CIF - G92654250). All rights reserved. No unauthorised copying permitted.

Web Design in Spain by abOriginal