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Local Spain
15-07-2025
- Business
- Local Spain
Should I buy a property in Spain now before it gets too expensive?
The number of people buying homes in Spain currently is skyrocketing. In fact, the country's just had the best month of May since 2007 in terms of property purchases, with 40 percent percent more homes sold than for the same month last year. Not exactly news one would expect given Spain's widely reported housing crisis. So what does this mean for foreigners - whether resident or non-resident - who have been considering buying a property in Spain? Should you rush or should you wait? Of course, committing to buying a property depends on your individual circumstances and your finances, but the general advice from market analysts is that if you want to buy a home, you should do it sooner rather than later. In a nutshell, banks' mortgage conditions are currently good and the data points to continuous house property price and rent increases throughout 2025 and beyond. Take the price evolution graph of Spain's main property search engine Idealista, which shows that the average price per square metre in June 2025 was €2,438. So a 100sqm flat in Spain costs €243,000 on average. A month earlier, in May 2025, it was 2 percent cheaper, meaning that a home is around €4,860 more expensive now. A year ago in June 2024, it was 14 percent cheaper, an incredible €34,000 less than it is now. In this context, it's no surprise that many people in Spain wants to get in there quick before prices increase too much. The latest data shows that Spain recorded the third-highest rise in housing prices in the entire Eurozone in the first quarter of 2025, with an increase of 12.3 percent, only surpassed by Portugal (+16.3 percent) and Croatia (+13.1 percent). Rents are climbing at a similar rate, higher still in the popular spots and main cities, meaning that people who are on the fence about buying a Spanish property are considering more than ever whether to take the leap and buy a home. In this context, it's no surprise that fear is driving many Spaniards to buy. Just as inflation influences what and how much consumers buy at the supermarket, expectations for the housing market spur people to purchase property because they anticipate it will only get worse. But there are other factors at play too. "There are several factors that explain the current strength of housing demand, including growth in gross disposable income, strong foreign demand, positive migration flows, the favourable financial situation of households, and lower interest rates," Judit Montoriol, chief economist at CaixaBank Research, told Business Insider. Why Spain's current mortgage conditions mean now is a good time to buy Firstly, the situation has changed in recent months thanks to a decline in the Euribor, which is returning to levels not seen since autumn of 2022. This means much better mortgage interest rates are available and better conditions too. Spanish banks now offer a TIN (Nominal Interest Rate) under 2.5 percent and financing up to 90 percent. With the Euribor hovering around 2 percent, the mortgage market is seen as much more attractive now and promises to become even more so in the coming months. Euribor is the interest rate most often used to work out mortgage payments in Spain and to calculate both variable and fixed rates. Why future property price rises should spur people to buy now in Spain Experts believe that house prices will continue to grow at a steady rate throughout 2025. Caixabank forecasts the rise will be 7.2 percent, Bankinter believes it will be 5 percent, American credit rating agency S&P puts it at 4.7 percent. One way or another, the average property in Spain is likely to cost between €10,000 and €20,000 extra (if not more) in 2026 than in 2025. This is mainly due to the increase in demand for housing, limited supply and an insufficient amount of new construction, which will keep prices high. And although there are signs of a property bubble developing in some Spanish cities, there isn't the same set of circumstances which precipitated prices to come crashing down as in the case of the 2008 financial crisis. Conclusion The general advice from market analysts that any savings you'll make from a better mortgage rate could be outweighed by increases in property prices. This means waiting could cost you more if you're planning on holding out for better mortgages. As rental prices are also continuing to rise, it might be worth spending the money on going towards a mortgage instead of increased rents anyways. As with everything though, it's important though to think about your situation and what is best for you. It will also make a difference depending on where in the country you want to buy. If you're buying in a big popular city, where prices have increased the most, you may want to act sooner, but if you're buying in rural countryside it may not matter so much as prices may not rise as fast.
Business Wire
03-07-2025
- Business
- Business Wire
Intercontinental Exchange Reports June Statistics
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today reported June 2025 trading volume and related revenue statistics, which can be viewed on the company's investor relations website at in the Monthly Statistics Tracking spreadsheet. 'The record traded volume across ICE's markets during the first half of 2025 - including record traded volumes across energy and interest rate derivatives - highlights the importance of ICE's benchmark contracts and the deep liquidity these offer to customers. This liquidity increases trading efficiency for all participants, whilst bringing price discovery our customers trust. We thank all of our customers for continuing to choose ICE to hedge their exposure,' said Ben Jackson, President of ICE. June highlights include: Total average daily volume (ADV) up 21% y/y; open interest (OI) up 9% y/y, including record OI of 105.6M lots on June 12 Energy ADV up 28% y/y; OI up 4% y/y Record Oil ADV up 43% y/y; OI up 16% y/y, including record OI of 17.6M lots on June 24 Record Brent ADV up 57% y/y; OI up 23% y/y, including record OI of 7.3M lots on June 23 WTI* ADV up 12% y/y; OI up 9% y/y Midland WTI ADV up 41% y/y Record Gasoil ADV up 33% y/y Other Crude & Refined products ADV up 23% y/y; OI up 15% y/y Dubai ADV up 42% y/y; OI up 12% y/y Murban ADV up 9% y/y; OI up 39% y/y Total Natural Gas ADV up 7% y/y TTF Gas ADV up 55% y/y Record Asia Gas ADV up 50% y/y; OI up 40% y/y, including record OI of 189k lots on June 12 Total Environmentals OI up 8% y/y Financials ADV up 14% y/y; OI up 27% y/y Interest Rates ADV up 20% y/y; OI up 35% y/y Euribor ADV up 14% y/y; OI up 23% y/y SONIA ADV up 22% y/y; OI up 44% y/y, including record OI of 10.1M lots on June 11 Gilts OI up 63% y/y MSCI OI up 8% y/y NYSE Cash Equities ADV up 43% y/y NYSE Equity Options ADV up 2% y/y Second quarter highlights include: Record total ADV up 26% y/y Record Energy ADV up 27% y/y Record Oil ADV up 34% y/y Record Brent ADV up 37% y/y Record WTI* ADV up 31% y/y Record Midland WTI ADV up 111% y/y Gasoil ADV up 29% y/y Record Other Crude & Refined products ADV up 25% y/y Dubai ADV up 44% y/y Murban ADV up 54% y/y Natural Gas ADV up 16% y/y North American Gas ADV up 12% y/y TTF Gas ADV up 27% y/y Record Asia Gas ADV up 31% y/y Total Environmentals ADV up 5% y/y Sugar ADV up 4% y/y Cotton ADV up 16% y/y Record Financials ADV up 30% y/y Record Interest Rates ADV up 34% y/y Euribor ADV up 33% y/y Record SONIA ADV up 34% y/y MSCI ADV up 18% y/y NYSE Cash Equities ADV up 47% y/y NYSE Equity Options ADV up 5% y/y * Combined OI and volumes of WTI and ICE HOU About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading 'Key Information Documents (KIDS).' Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Category: Corporate SOURCE: Intercontinental Exchange ICE-CORP
Business Wire
26-06-2025
- Business
- Business Wire
Eurofins Announces the Success of Its New Schuldschein Issuance of €500m to Refinance its 2025 Schuldschein Loans
LUXEMBOURG--(BUSINESS WIRE)--Regulatory News: Eurofins Scientific (Paris:ERF) ( rated Baa3 by Moody's and BBB- by Fitch), a global leader in bioanalytical testing, announces that it has successfully issued a new €500m Schuldschein loan (the ' New SSD ') offering a blended interest rate of 3.8%* with an average maturity of 6.4 years. The New SSD is structured in tranches of 5, 7 and 10 years, with 66% of the transaction on the 7-year and 10-year tenors. Demand was strong, with the order book totalling more than 1.6x the final size of the issuance. The proceeds of the New SSD will primarily be used to refinance the €234m in Schuldschein loans that are maturing in July and October 2025, respectively. The remainder of the new SSD will be used for general corporate purposes. With the issuance of the New SSD as well as the issuance of a new €400m hybrid bond (NC7) on 4 April 2025, Eurofins has reinforced its strong balance sheet by refinancing all debt and hybrid bonds with maturities or first calls in 2025. As a result, Eurofins has no major refinancing requirements until the outstanding €302m senior Eurobonds become due for repayment on 17 July 2026. BayernLB and UniCredit acted as joint arrangers, Sabadell as a passive arranger and UniCredit as the loan agent for the transaction. *Calculated at current market values of the Euribor (floored) Notes to Editors: About Eurofins – the global leader in bio-analysis Eurofins is Testing for Life. The Eurofins Scientific SE network of independent companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products. With ca. 63,000 staff across a decentralised and entrepreneurial network of more than 950 laboratories in over 1,000 companies in 60 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products. Eurofins companies' broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients' increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world. The Eurofins network has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, its companies draw on the latest developments in the field of biotechnology and analytical chemistry to offer their clients unique analytical solutions. Shares in Eurofins Scientific SE are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters Bloomberg ERF FP). Until it has been lawfully made public widely by Eurofins Scientific SE through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended. Important disclaimer: This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific SE's management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific SE disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company's management as of the date of publication, but no guarantees can be made as to their completeness or validity.
Yahoo
12-06-2025
- Business
- Yahoo
Bigbank AS Results for May 2025
May was a stable month for Bigbank – both the loan and deposit portfolios grew at a steady pace, and profitability remained at a solid level. The loan portfolio increased by a total of 43 million euros in May. The largest contributions came from business loans and home loans, which grew by 22 million and 15 million euros, respectively. The consumer loan portfolio grew by 6 million euros. The deposit portfolio grew by a total of 26 million euros in May. In a declining interest rate environment, the savings deposit product became more attractive to customers, with its portfolio increasing by 18 million euros during the month. The term deposit portfolio also returned to growth, increasing by 8 million euros. It is encouraging that despite falling interest rates, Bigbank has increased its net interest income during the first five months of 2025. The strong growth of the loan portfolio, along with maintaining the deposit portfolio at an optimal volume and pricing level, has offset the decline in interest income caused by the drop in Euribor and the upward pressure on interest expenses resulting from the growth of the deposit portfolio. As of the end of May, net interest income for 2025 exceeded the result for the same period in 2024 by 1 million euros. A positive development was the continued decline in net allowances for expected credit losses and provision expenses compared to 2024. In May, the expense amounted to 0.9 million euros, bringing the total for the five-month period to 6.7 million euros – 4.4 million euros, or 40%, less than in the same period last year. This improvement was primarily driven by better repayment behaviour in the consumer loan segment across all three Baltic countries. Net profit for May was 3.4 million euros, representing a strong result. In addition to the increase in net interest income and the decline in net expected credit losses, net fee and commission income rose by 0.5 million euros over the five-month period, while administrative expenses decreased by 0.4 million euros. Behind the bank's growth and profitability is a strong team, which had grown to 600 employees by the end of May. The expansion of the team, combined with salary increases, led to a 2.2 million euro rise in personnel expenses over the five-month period. A negative development was the 1.3 million euro increase in income tax expenses over the same period, mainly due to higher income tax rates introduced in Estonia and Lithuania at the beginning of 2025. Bigbank's key financial indicators for May 2025: Customer deposits and loans received increased by 357 million euros over the year, reaching 2.57 billion euros (+16%). Loans to customers grew by 564 million euros year-on-year, reaching 2.41 billion euros (+31%). Net interest income totalled 8.8 million euros in May; the five-month total reached 42.8 million euros. Compared to the same period last year, net interest income increased by 1.0 million euros (+2%). Net allowance for expected credit losses and provision expenses totalled 6.7 million euros in the first five months of the year, down 4.4 million euros or 40% year-on-year. Net profit in May was 3.4 million euros. Cumulative profit for the first five months amounted to 16.3 million euros, an increase of 2.9 million euros or 22% compared to the same period in 2024. Return on equity in May was 14.7%. Income statement, in thousands of euros May 2025 YTD25 YTD24 Difference YoY Total net operating income, incl. 9,480 47,716 45,983 1,733 +4% Net interest income 8,827 42,785 41,747 1,038 +2% Net fee and commission income 820 4,197 3,652 544 +15% Total expenses, incl. -4,377 -20,862 -18,922 -1,940 +10% Salaries and associated charges -2,749 -12,742 -10,542 -2,199 +21% Administrative expenses -919 -4,569 -4,938 369 -7% Profit before loss allowances 5,103 26,853 27,060 -207 -1% Net allowance for expected credit losses and provision expenses -866 -6,679 -11,076 4,397 -40% Income tax expense -844 -3,882 -2,615 -1,267 +48% Profit for the period from continuing operations 3,392 16,292 13,369 2,923 +22% Profit or loss before tax from discounted operations 0 0 29 -29 Profit for the period 3,392 16,292 13,398 2,894 +22% Business volumes, in thousands of euros May 2025 YTD25 YTD24 Difference YoY Customer deposits and loans received 2,574,153 2,574,153 2,216,907 357,246 +16% Loans to customers 2,413,543 2,413,543 1,849,189 564,354 +31% Key figures May 2025 YTD25 YTD24 Difference YoY ROE 14.7% 14.3% 13.0% +1.3pp Cost / income ratio (C/I) 46.2% 43.7% 41.2% +2.6pp Net promoter score (NPS) 55 58 58 +0 Compared to the financial results published for May 2024, the net interest income and the net allowance for expected credit losses for the prior period have been adjusted, both reduced by 1.1 million euros. The adjustment is related to an identified error, where interest income from impaired financial assets had been accrued on the gross exposure rather than on a net basis. This correction does not impact the net profit for May 2024. Bigbank AS ( with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 May 2025, the bank's total assets amounted to 3.0 billion euros, with equity of 278 million euros. Operating in nine countries, the bank serves more than 172,000 active customers and employs 600 people. The credit rating agency Moody's has assigned Bigbank a long-term bank deposit rating of Ba1, along with a baseline credit assessment (BCA) and an adjusted BCA of Ba2. Argo KiltsmannMember of the Management BoardTelephone: +372 5393 0833Email: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Independent
11-06-2025
- Business
- Irish Independent
New mortgage rates fall for the third month in a row
Meanwhile Pepper, the largest servicer of mortgages on behalf of vulture funds, has promised more rate reduction for 'mortgage prisoners' trapped with it. Overall new mortgage rates fell to 3.72pc in April, down from 3.77pc in March, Central Bank of Ireland statistics show. Mortgage rates are now at their lowest level in just over two years. The Eurozone average rate increased marginally to 3.34pc. However, rates varied hugely across the currency bloc. They are as low as 1.69pc in Malta to as high as 4.40pc in Latvia. Ireland had the fifth highest rates in the Eurozone. This is a vast improvement on a few years ago when mortgage rates in this country were among the highest in the area. Also falling, but at a faster rate, are the interest rates banks are paying savers. The Central Bank of Ireland figures show that the average interest rate on household deposits with a fixed maturity fell from 2.26pc to 1.95pc. This reflects the fact that the European Central Bank cut rates for the eighth time last week putting pressure on savings and deposit rates. One more rate cut is expected by the money markets, possibly in September. Daragh Cassidy, head of communications at mortgage broker said the gap between Irish mortgage rates and European ones was narrowing fast. 'Although we now have the fourth highest rates in the Eurozone, the 0.38 percentage point gap between the average Eurozone rate and the average Irish rate is actually the smallest it's been in 10 months.' He said the ECB cut rates again this month, and is likely to cut rates once more before the end of the year. This should lead to mortgage rates in Ireland continuing to creep a bit lower over the coming months. The lowest rate in the market is currently just under 3pc, which is with Avant Money's new tracker-like variable product which tracks the Euribor, Mr Cassidy said. ADVERTISEMENT Learn more AIB and PTSB both offer fixed rates as low as 3pc, but homeowners much have a Building Energy Rating of B3 or better. Mr Cassidy said: 'We could see a fixed rate slightly under 3pc on offer by the end of the year for mortgage customers with big deposits. However, the sub-2pc rates we saw as recently as 2022 don't look like returning any time soon.' He said this is particularly relevant for some of those coming off fixed rates in the next year or so. Despite the overall decline in rates, some may still be facing higher repayments than those they have been used to when they come to re-fix, he added. And asked if it has plans to pass on the latest ECB rate cut to its customers, Pepper Advantage said it expects to pass this on. 'Pepper Advantage recently cut rates in April and anticipates further reductions for customers in the near future. Pepper Advantage continues to monitor ECB interest rate changes with a view to passing them on to customers.' People whose mortgages are serviced by the likes of Pepper Advantage on behalf of vulture funds are known as 'mortgage prisoners'. This is because they are only offered very high variable rates and are unable to fix. They are unable to move their mortgage to another lender as many of them are either in arrears or fell behind on their payments in the past.
