Direct Auctions joins the IMS Network

Hi All,

IMS is please to announce a new buisness partner Direct Auctions

Direct Auctions is the first property Auction House to become successful in Spain. Based in Puerto Banus, Marbella, the company offers a variety of properties for open auction from Malaga to Gibraltar. The objective of the company was to offer a direct alternative to buying and selling property – an alternative where service and professionalism would ensure clients on both sides would benefit from the lowest sales fees in Spain and with the knowledge that all properties are pre-conveyed. The properties range from plots of land with licenses to build, old farm houses for reforming, brand new apartments close to completion, resale properties, townhouses and commercial units to top end luxury villas. The main consideration is the price is keen and often properties have savings of around 50% of open market valuations

Direct Auctions was formally launched in March 2003 with the first auction June 23rd 2003. The auction opened with an attendance of over 400 people, interested parties, bidders and the cameras from BBC’s Homes under the Hammer. There was a sale on the day and from then the company has become firmly established holding monthly live auctions and currently selling over 50% of each catalogue.

need to Buy Euros - Contact IMS Foreign Exchange

Spanish Property in for more Doom as ECB's Weber said investors should prepare for an increase in interest rates.

Spanish Property in for more Doom as ECB's Weber said investors should prepare for an increase in interest rates.

At IMS FX we have been keeping a Eye on Spain and now see that Spanish Prices are unlikely to recover any time soon as ECB's Weber said investors should prepare for an increase in interest rates.

Recession in Spain - No Chance

Bank of Spain's Ordonez sees no chance of recession in Spain this year.I personally think he is nuts as;Over 40,000 estate agents have already shut their doors, according to the realtors federation. There are 600,000 unsold homes on the market. Unemployment is rising at a rate of 90,000 a month (seasonally adjusted). UBS says country has built up cross-border liabilities of $362bn, much of it owed to German and French banks, and is facing a foreign "funding freeze".

This is also a common theme in France and Italy so can someone please explain why the Pound is at historic lows against the Euro