Good Deals On Spanish Property

Dian at Kyero has just posted this piece on illegal builds causing many agents to go out of business.

The housing market in Spain is receiving bad press but there are some good deals available if you do your homework.

With an increasing number of illegal builds coming to light, thousands of estate agents going out of business, and lots of properties failing to sell, many investors may be thinking now is not a good time to buy a property in Spain.

However, one of the contributing factors to the property glut is a surplus of newly-built, over-priced apartments and villas on the costas. After a decade of property prices rising at astronomical rates the market is now beginning to steady, but many properties are still being priced unrealistically.

According to an article by Mark Stucklin, in The Sunday Times recently, although the majority of these properties have sea views they have been built in poor locations, and as there is an oversupply of property in these areas at the moment, many of the sellers, who bought these homes off-plan several years ago, are being forced to reduce their asking price. There are so many identical homes for sale the only factor which will differentiate one property from another is the price. Caixa Catalunya, a Spanish Savings bank, has estimated up to 500,000 newly built properties remain unsold.

Although villas are in shorter supply, problems in the market with flats means prices are being pushed down for villas as well.

Andrew Lupton, of Stacks Relocation Spain, was quoted in the article as saying: “Prices for attractive villas in the upmarket enclave around Javea, on the Costa Blanca, are already 20 per cent down.

“You can now get a lovely four-bedroom villa, with a pool, on a plot of 800 square metres for £300,000. A year-and-a-half ago it would have cost you £380,000.”

However, planning approvals for new detached properties are falling considerably faster than for flats, according to new figures from the Spanish Ministry of Development. This could lead to a shortage of villas, which will help strengthen prices in the future.

The article advises buyers to head south for the best bargains. Andalucia has some particularly enticing prices at the moment, with a brand new four-bedroom Penthouse in Nerja, with a roof-top pool and sea views, reduced from £720,000 to £510,000.

The best deals to be had are on the coast, but this is also pushing prices down further inland.

Mark Stucklin, advises potential buyers to try and negotiate a good price. They may be surprised at what they can get for their money, particularly if the owner is looking for a quick sale.

Tags: spain, builds, property

How to Get Ahead Selling Your Spanish Property

We’ve had a strong pound for many years. Now its looks like its on its way down again.
How does this affect your spanish property when you want to sell it?

Good article from Kyero

By admin

The pound has flopped, dropped like a stone and left many Spanish property owners who wish to sell and repatriate their money in a strong negotiating position. How can the economic problems mean good news for those selling property?

Currently the Spanish property market is very slow for Spanish buyers due to higher than usual interest rates, the price of properties versus the average income and the uncertainty surrounding the market. Therefore, if you are a British seller who will be repatriating your money into pounds, now is a great time to cut your price and still get the same amount of pounds out that you would have a month ago at a price 10% higher in Euros. The price cut will have two positive effects for differing buying groups.

The Spanish or European buyer who purchases in Euros and doesn’t have to think about the exchange rate will see your property at a lower price than competing properties being sold by non UK nationals who will not be repatriating their money. This might tempt them to visit and make offers.

The British buyer who has seen prices rise when doing their calculations by 10% will find that your property is not more expensive than it previously was. They may well be willing to go the extra mile to purchase their dream house in the sun.

What are the risks? Well, it is perfectly possible that in the future the pound will go back up but as a 1% cut in interest rates in the UK is being talked about after the recent carnage on the stock exchanges, don’t expect that to happen very soon, giving you a window of opportunity now to sell at a lower price.

Secondly, someone may make an even lower offer. It is currently a buyer’s market and this is going to happen anyway at the higher or lower price. However you will get more offers on the property at the lower price obviously and if you are relocating to another property here in Spain then remember that you too can offer a lower amount and expect to see it accepted at the moment.

Tags: property, spanish

Arana de Mijas Low Deposit

By admin
If you are looking for a good investment in Spain perhaps this golf flavoured idea will appeal.

Nothing to pay until 2009 plus a 5% rental guarantee for 2 years

Arana de Mijas is set in the grounds of the Cerrado de Aguila Golf Resort and with wonderful views of the Mediterranean Sea from its elevated position.

Although this luxurious development of apartments and penthouses enjoys superb views and a tranquil environment, the coastal attractions of Fuengirola and Mijas Costa are easily reached in a 5 minute drive from the gates of the resort. In addition, the fantastic new Myramar Shopping Centre, and the El Corte Ingles department store are just a short drive away.

For golf lovers, apart from the on-site course, a range of attractive golf options are within easy reach, including the facilities at La Cala Resort, Mijas Golf, El Chaparral and Santana Golf.

Additionally, the international airport of Malaga can be reached in around 25 minutes.

Arana de Mijas itself comprises 160 spacious apartments and penthouses, designed in contemporary style, and offering every home comfort. Properties feature marble and wood flooring, fully equipped kitchens with top-brand appliances, power showers, electric blinds, extensive terraces, domotic home management system and air conditioning.

The project boasts extensive landscaping, offering lawned areas, attractive palm-lined walkways, pools and recreational zones, whilst remaining sympathetic to the local environment. The development will also feature 2 large swimming pools, fountains, cascades and paddle tennis court.

For those who like to indulge in a spot of pampering, there is a spa area that is fully integrated into one of the buildings on site, providing jacuzzi, Turkish bath and sauna. In addition, the resort’s extensive clubhouse is just a short walk from Arana de Mijas, and this offers further spa facilities, treatment rooms, restaurant and bar, plus a huge terrace from which to enjoy the superb views.

Tags: golf, spain, property

Canary Islands for Vitamin D

If you are into vitamins and particularly D then Tenerife in Spain are the place for you

By admin

New research from the Journal of the American Heart Association reveals that vitamin D is critical in offering us protection against all sorts of serious illnesses and conditions such as strokes and heart failure, and that vitamin D also plays a vital role in supporting bone strength.

The findings of the research, which took five years to complete, have been published along with evidence that only around 10% of us ever has high enough levels of vitamin D in our bodies because we lack exposure to the one source guaranteed to top us up, namely the sun.

In a recent article in the Guardian newspaper, a reporter cites ABTA, (the Association of British Travel Agents), as saying that because summer 2007 in the UK was such a washout, the 2007/08 winter sun season is going to be busier than ever with record numbers of Brits having booked to go abroad in search of the warm rays of the sun.

If you’re one of the estimated 3.5 million Britons heading off in search of winter sunshine this season, which are the destinations that you should be focused on for guaranteed vitamin D levels, excellent affordability, ease of accessibility and a great holiday to boot?

According to the Telegraph, ABTA and the Times newspaper, the number one location you should be considering in 2008 is the canary islands

Tags: spain