June 1st, 2010
Initially, the very notion of buying property in Costa Blanca during the current recession may seem like an act of total folly. The British housing market is in chaos, with repossessions rife, yet if you look closely and carefully, you could well find an excellent deal on a property in Spain. Furthermore, if the cost of a second home still seems prohibitive, look at it as an investment; villas and apartments are in constant demand, so you would even be able to partially cover your costs by renting it out as a holiday home and maybe, just maybe, your little gamble could become an excellent source of profit.
So what sort of apartments and villas are available? Well, there is a range of properties to suit just about anyone looking to buy property in Costa Blanca, from single-bedroom apartments in new builds, to luxurious mansions.
For example, if you are looking to buy an apartment in Costa Blanca, the smallest available are the Las Rocas apartments in Ciudad Quesada. At around 33 metres squared, they are too small for a family, but perfect for a couple, and come with beautiful views of Quesada. Built in the traditional Mediterranean villa style, the complex comes complete with a communal pool and garden, so if you do not fancy venturing beachwards, you can stay and relax in and around the apartment. Furthermore, the apartments are within walking distance of shops, restaurants and a country club, allowing inhabitants to enjoy a relaxed holiday, with all the necessary amenities close by. However, it has to be stressed that these are indeed small. They have only one bathroom, bedroom and a small kitchen, though the terrace will allow you to relax in the sun. And if you buy such an apartment in Costa Blanca, how much are you likely to pay? Believe it or not, the Las Rocas apartments are going for recession-busting prices, starting at only 52,000 Euros, so while they are not exactly ideal for a family vacation, they would be perfect for a couple’s Spanish getaway, and would be a fantastic to rent out without having to invest too much in the property.
Tags: buying property in costa blanca, property for sale costa blanca
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July 3rd, 2009
As a contrast to the sleepy white-washed villages, Alicante is one of the fastest growing cities in Spain and also a sound option for anyone interested in property for sale in Costa Blanca. It has plenty of beautiful beaches, some of which are crowded during the height of the tourist season, but there are also isolated bays and quieter beaches if you want to escape the crowds.
The huge choice of property for sale in the Costa Blanca means that buying a second home in the area is a popular option to investor and holidaymaker alike. The mild and sunny weather and beautiful beaches attract many thousands of holidaymakers from all parts of the world. In reality, the potential purchaser is indeed spoilt for choice, whether buying for pleasure, leisure or investment.
Tags: andalucia property spain, property for sale costa del sol
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June 18th, 2009
When researching property for sale in the Costa Blanca, many buyers decide to purchase accommodation close to the coast. This is not surprising, given the hundreds of miles of coastline and the excellent choice of beaches, with fine golden sands, clear waters and abundant palm trees. Families are advised to choose sheltered inlets with shallow waters, as these will be safe for children.
It’s no wonder that so many people are tempted by property for sale in Costa Blanca. The sun shines here for most of the year and the area offers among the most extensive ranges of tourist amenities in the world. It boasts the best beaches in Spain and the mountains provide a beautiful and majestic backdrop for the province. There is a wide selection of property for sale in the Costa Blanca in all of the principal tourist destinations, as well as in the smaller and quieter towns and villages.
Costa Blanca’s major resort is Benidorm and the town has proved consistently popular for over forty years with holiday makers, retirees and “second homers”, as well as with investors looking for property for sale in the Costa Blanca. Seeing Benidorm now, with its skyscraper apartments and modern precincts, it is difficult to imagine that, prior to the 1960s, this brash and lively resort was only a fishing village. However, its crowds, noise and modern entertainments are not for everybody and, for those who want to get away from it all, there is much to see in the local area. Literally a few minutes by car, you can find yourself surrounded by mountains and valleys, in which are tucked away many picturesque small towns and villages.
Tags: property for sale costa blanca
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May 28th, 2009
The Spanish property market, in common with many countries, has been affected by the worldwide recession. The Costa Blanca, traditionally one of the most popular areas to buy and sell property, is not immune from the slump in the housing market. Many expatriates who moved to the region for a better quality of life are finding their dreams turning sour as they struggle to meet their mortgage commitments. The collapse of sterling against the euro has added a thirty per cent increase to mortgage payments and has also considerably increased the cost of living for those expats who are wholly dependent upon their savings in UK banks. As a result of these hardships, the volume of repossessed property for sale in Costa Blanca has risen dramatically.
The majority of repossessed property for sale in the Costa Blanca is in the form of apartments. The reason for this is that many investors paid a deposit before or during construction and expected to sell at a profit following completion. This strategy worked for many years, but when the property market nosedived, many investors found their apartment to be worth less than the purchase price. The only options were to either walk away and lose their deposit or to attempt to keep up with the mortgage payments in the hope that values would increase in the long-term. In addition, there have been substantial rises in the Spanish mortgage rate and many buyers who were attracted by property for sale in the Costa Blanca have been caught out, thinking that low interest rates were a permanent fixture. However, most Spanish banks use the “Euribor” to set their mortgage rates and this has been increasing as the European Central Bank seeks to curb inflation in the Eurozone. Also, the cost of living has risen rapidly in Spain over the last year, meaning less disposable income and more difficulty in meeting mortgage payments.
Many people looking for property for sale in Costa Blanca are interested in finding bank repossessions - not surprisingly, as repossessed homes are often available at massive discounts relative to the true value of the property. Bargains can be found at property auctions, as Spanish banks and private sellers desperate to sell will put up their properties for auction as a last resort. Although you may end up with the bargain of the century, it is also imperative to be cautious as such properties can be in need of lots of structural and cosmetic work, as they are unlikely to have been looked after or had money spent on them for a long time. Another way of finding a repossessed property for sale in Costa Blanca is by directly approaching a Spanish bank. If they have such property on their books, they will no doubt be very keen to offload them. A third way is to directly approach a property owner whom you suspect is a “distressed seller”, i.e. one who is in danger of falling behind with their mortgage payments and is desperate to sell to avoid repossession. Look out for private adverts for property for sale in Costa Blanca, especially with wording such as “reduced” or “low priced for quick sale”. Also look for property with Spanish estate agents and find out which sellers are likely to accept offers well below the asking price.
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