First class residential complex, made up of four luxury apartments built to the highest standard. Each apartment includes two bedrooms, each with en-suite bathroom, one separate toilet, fully fitted kitchen, double garage and store room.
Magnificent independent villa, located in prestigious development in Madrid, private road with security. It is in perfect state of maintenance , bright, south facing, garden, fruit trees, large swimming pool , barbecue and wooden house to store garden tools.
The house is arranged on one floor, and it also has a private lof 35 m2. 4 bedrooms on the ground level , two bathrooms (one ensuite), guest toilet , living room with fireplace, direct exit to the covered terrace , garden and pool. Fully equipped kitchen with high end appliances , access to laundry, and door exit to the garden.
In the attic there is another living area / dining room, bedroom ,TV area , games room , gym, etc.
The floor is parquet , and in some areas stoneware. It is a very comfortable home to live in, and close to the center of Madrid.
The price is 550,000 €.
More information on the following link: spainhouses.net
Five years after Spain's property bubble burst, hundreds of thousands of new and unfinished properties remain unsold throughout the country. Meanwhile, some of the biggest companies in the world have had to eat humble pie, reduce their size, and in some cases have simply been swept away.
Slowly, and reluctantly, the property sector is facing up to one of the major reasons nobody is buying property: the huge numbers of homes that remain unsold, some of them unfinished. This is the case for the major financial institutions, as well as Sareb - the so-called "bad bank" set up to sell the vast portfolio of real estate accumulated by failed, and subsequently nationalized, banks after the property companies they had financed went belly up.
Estimates of the number of unsold houses range between the government's figure of 675,000 and the 815,000 calculated by savings bank CatalunyaCaixa. To this figure also needs to be added the close to half-a-million homes that are still under construction, according to both the government and the real estate sector. The areas with the largest number of unsold properties are, in order: Castellón, where one in four homes is empty according to CatalunyaCaixa; Toledo; Murcia; Almería; Tarragona; La Rioja; Alicante and Malaga.
...continue reading "Property Market: The Challenges Facing Spain’s Toxic Bank"
These days, with the crisis still raging, seven out of every 10 home purchases in Spain are paid in full. Credit has dried up, and most of those properties still being bought up are paid for with savings or donations from family members.
There is another explanation for all the upfront payments: the rise in foreign buyers, who now represent 17 percent of the total, according to figures from the Public Works Ministry. These international clients are paying with funds of their own or with bank loans secured in their own countries.
Before the real estate bubble burst, upfront purchases represented 37.3 percent of total sales, according to the Higher Council of Notaries. That rate has doubled, and in June it represented nearly 68.6 percent of all sales. A study by Pompeu Fabra University (UPF) shows that in the first quarter of 2013, just over 60 percent of transactions did not require a home loan.
...continue reading "Thanks to a fall in prices, many savers are opting to buy houses outright"
Reforms to the Coastal Law in Spain are affecting the value of properties and there are reports of a frenzy of activity in some locations.
The changes to the law, which effectively nationalised the whole coast of Spain when it was introduced in 1988, allows refurbishments of homes close to the seafront, and creates a market for longer leases, opening up investment opportunities for those in the know.
Owners of expropriated homes that were legally built before the Ley de Costas were given a 30 year concession of use, effectively a type of lease, many of which were due to expire in 2018.
Now the Ley de Costas has been reformed, extending concessions from 30 years to 75 years and making it legal to buy and sell concessions that before could only be inherited. As a result, concessions are now much more valuable.
...continue reading "New lease of life for coastal properties in Spain"