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Apartments and villas in Spain cheapest than ever

SpainHouses.netJune 26, 2012March 31, 2020Leave a comment

This is the moment for those who would like to purchase a house in the beach

The prices have gone down around a 38% along the Mediterranean Coast. Most of this decrease had been cause by the banks. Here there are examples:

Comunidad Valenciana

In Castellon, towns as Peñíscola o Vinaroz, make the most of the geographical conditions, such as the closeness of the sea and the mountain, to sell houses that in some cases were finished years ago. In the tourists cities of Oropesa or Benicasim is very important also the presence of real estate agencies owned by financial institutions.

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Those who are looking for a good offer will find a wide variety of them in Valencia Province, from Sagunto to Oliva, and in many cases is even possible to negotiate the price. The most interesting offers are located around the Ribera Baja, and the comarca of La Safor.

Alicante gather the biggest tourist offer. Marina Alta, Jávea and Calpe are the most famous destinations. The city of Benidorm keeps being one of the main references in the region. It is possible to find properties in Cala Finestrat for a price under 122.300 €, or even less, from 120.000 € in Villajoyosa.

Andalucía

With the exception of Marbella, the financial institutions are the main seller in the Andalusian coast. In Almería, it is easy to find one or two bedrooms flats from 54.000 € to 110.000 €, in towns like Vera, Mojácar or Roquetas de Mar. In Almuñécar, in the coast of Granada, there are 90 square meters for only 189.423 €.

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In Málaga province, from the Axarquía to the Costa del Sol, there are countless properties for sale.

Two bedrooms flats from 136.600 € in Nerja. And in Torrox, one bedroom and 95 meters flats, from 168.840 €. The minimum price in Torre del Mar is 114.246 €. Furthermore, real estate agents and banks are competing for the little area of Rincón de la Victoria.

Additionally, there are apartments for less than 134.030 € in Torremolinos, and studios for less than 45.000 € in Fuengirola. On the other hand,in Marbella where the number of properties from banks is minimum, the prices are higher, between 155.540 € and 259.000 €.

Cataluña

residencial calaceite torrox nerja - Apartments and villas in Spain cheapest than ever — Apartments in Cataluña

The excess of property in this region is smaller than in Valencia or Andalucía, with the exception of Tarragona.

Although Girona and Tarragona concentrate the biggest amount of properties, some seaside towns in Barcelona, such as Castelldefels o Sitges, keep being important points to buy a second residence or even a first one.

The developers, Realia and Vallehermoso, are selling in Sant Feliu de Guíxols, two and three bedrooms flats from 139.000 € and 232.399 €, respectively.

Cambrils, in Tarragona Province, offers the widest number of available properties.

Balearic and Canary Islands

Casa en Ibiza 350.000 € 2 - Apartments and villas in Spain cheapest than ever — House in Ibiza for 350.000 €

The islands do not scape from the competition between banks and real estates developers. More relevant in Canarias than in Baleares, it is causing a bigger decrease in prices.

In the Balearic Islands, in Ibiza as well as in Mallorca, it is possible to find three bedrooms flats from 262.000 €, apartments for 165.000 € and studios for 42.500 €. In Ciudadela (Menorca) flats for 110.000 €.

In the Canary Islands, there are houses for sell from 63.000 €, and flats from 55.000 €. Moreover, It is possible to find apartments from 37.700 € in Tenerife.

Source: economia.elpais.com

Vacation Rentals Down 17%

SpainHouses.netJune 14, 2012March 31, 2020Leave a comment

Costa Cálida, Costa del Sol and Canary Islands are the hottest destinations

cadiz playa 300x194 - Vacation Rentals Down 17% According to statistics, the destination which has come down in price most is the Costa Cálida (Murcia), where it is now possible to rent a house for an average of 24 euros per person per day, which is 40.56 per cent less than the 2011 prices.

These declines have also reached the Canary Islands, with rents falling by 38.85 per cent. Rental prices on the Costa del Sol (Malaga), dropped by 31.51 per cent, and on the Costa Tropical (Granada) rental prices have fallen by 23.22 per cent in 2012.

At the other extreme, in the Costa Blanca (Alicante), the price per person per day reached an average of 47 euros, an increase of 18 per cent compared to 2011. On the Costa de la Luz (Cadiz and Huelva), prices have increased by an average of 13.3 per cent and in Valencia they have risen by 4.57 per cent.

The Balearic Islands, meanwhile, remains the most expensive destination with regards to renting, with an average price of 54 euros per person per day, although this figure still represents a reduction of 21.6 per cent compared to 2011 data.

Overall, El Mundo reported that revenue from Spanish beach rentals showed a decline on average of nearly 17 per cent between the summers of 2011 and 2012.

Eurovegas Rethinks Establishing Casino Complex in Spain 1

SpainHouses.netJune 7, 2012June 19, 20121 Comment

Eurovegas is expected to attract 11 million visitors in 15 years

Sheldon Adelson, the man who wants to establish a Eurovegas casino, hotel and leisure park, has now said that there is nothing solid about the project as yet.

Last month he said it was 90% complete and all he had to do was to choose between sites in Madrid and Barcelona, but now it seems he is getting cold feet, linking the project’s viability to the future of the Euro.

The President of the Las Vegas Sands Corporation said, ‘It’s not a Spanish project, it’s a project for all of Europe. If something happens to destabilise the Euro we still have time to take a positive or negative decision’.

If built Eurovegas is expected to attract 11 million visitors in 15 years who will spend some 15.5 billion €, according to the company.

Spanish Banking System under exam

SpainHouses.netMay 28, 2012May 28, 2012Leave a comment

The Bank of Spain had chosen two consultants so that they value the Spanish banks’ assets.

The purpose of this evaluation is to “increase transparency and definitively dispel doubts about the valuation of bank assets in Spain”, Economy Ministry sources said.

The independent consultants selected are the German Roland Berger, and Oliver Wyman of the United States. Oliver Wyman has a dark point on his curriculum as he classified Anglo Irish Bank as the best in the world in 2006, just two years before this bank was nationalized.

Economy Minister Luis de Guindos refused on Monday any further serious regression in home loan defaults.

The performing loan ratio for mortgages currently stands at 2.8 percent, compared with 21 percent for credit to the real estate sector. The banking system’s loan portfolio is currently around 1.76 trillion euros, of which 656 billion is in the form of mortgages to individual homeowners and around 310 billion to property developers. In a decree approved earlier this month, the government increased provisions for loans to developers to up 45 percent of the value of the credit.
...continue reading "Spanish Banking System under exam"

Justin Bieber Buys Home in Los Angeles 1

SpainHouses.netMay 24, 2012May 24, 20121 Comment

Justin Bieber Paid $6.6 Million for Calabasas Mansion

There's a certain Spanish touch to Justin Bieber new house. After months of rumors and speculation, it's official: Justin Bieber paid $6.5 million for the mansion he recently bought in Calabasas, outside the city of Los Angeles, according to the Los Angeles Times.

The 10,000-square-foot house sits on 1.3 acres and has seven bedrooms, a pool and a wine cellar.

The kid's got taste!

...continue reading "Justin Bieber Buys Home in Los Angeles"

Europe Construction Sector Growing Up

SpainHouses.netMay 22, 2012March 31, 2020Leave a comment

Spain declines construction -1.8 per cent The eurozone construction sector recorded an increase in activity in March of 12.4 per cent over the previous month, when it had fallen by 10.4 per cent, while year-on-year the decline was 3.8 per cent, according to data published on Monday by the European statistics office, Eurostat. In the whole of the European Union, production in the construction sector soared 11.8 per cent from February, when it had fallen by 5.7 per cent, while year-on-year it had dropped by 3.9 per cent. Cinco Dias reported that among the countries for which data were available, the activity in the construction sector increased in ten of the countries and decreased in four. The largest increases were registered in Germany (+30.7), France (+17.8), United Kingdom (+14.8) and Italy (+9.5), while the most significant declines were recorded in Romania (-8.8), Portugal (-6.8) and Spain (-1.8). Compared to March 2011, the greatest advances year-on-year were recorded in Sweden (+7.9), Germany (+6.3) and Poland (+2.4), while the largest declines were observed in Portugal (-16.4), Slovakia (-11), Spain (-10.9) and Slovenia (-10.7). Specifically, construction activity fell in nine countries and increased in five.

Good prospects of British tourism in Costa Blanca

SpainHouses.netMay 17, 2012May 21, 2012Leave a comment

Spain remains being a preferential spot for the Brits According to the tourism council in Valencia, the British tourism market is increasing in comparison to last year, around 13%, in Costa Blanca, which will help pull the region out of the enormous crisis we are living. British tourism rose 9.1 percent in 2011 in spite of the pessimist economic situation. Consequently, this year’s data improve the confidence to the global financial recovery. The tourism observatory of the Valencia region has informed that this year there will be about 2.5 million tourists from the British Islands, most of them in the province of Alicante. ...continue reading "Good prospects of British tourism in Costa Blanca"

Spectacular Estate for Sale in Colmenar (Málaga) 2

SpainHouses.netMay 14, 2012March 31, 20202 Comments

Lets see today this fantastic country estate in Colmenar

6 Bedrooms, 5 bathrooms, Area Lot 600,000 m2, Built area 855 m2, Area useful 644 m2, Area Terrace 230 m2, Swimming-pool, Resale, in rural area

Ideal for rural hotel or a loving family of the field-historical farmhouse renovated with more than 60 hectares of soil occupied mainly by olive, fig and almond. The house dates back to the 18th century and it is full of history.

It has been carefully restored by its current owners. The distribution is: hall with guest toilet and a large closet. Kitchen with space for breakfast and wood stove. Rustic style kitchen with modern facilities: dishwasher, refrigerator/freezer and clay oven to make home-made bread. Lobby of double internal height and with original wooden beams. An interesting feature is the tank of wine, which dates back to when the estate was producing wine. Room TV with large fireplace and wood stove burner. Separate dining room. Wide living room (with old wine shop), with large windows offering open views. Fitness centre with a large indoor swimming pool with jacuzzi and sauna. Bedrooms on ground floor with access to a terrace, bathrooms in suite and dressing room.

On the 1st floor there is a gallery a 'chill out' sitting room overlooking the main lobby. The main bedroom has a French balcony. Bed with canopy and great dressing room along with a quarter-bathroom with bathtub cast iron, large shower and toilet cabin. There are 3 bedrooms on the same floor with bathrooms and an ideal bedroom for teenager with bathroom en suite, a second bedroom or living room / study next. Outdoor swimming pool and an indoor jacuzzi and gym.

...continue reading "Spectacular Estate for Sale in Colmenar (Málaga)"

Closing the Deal in Spain

SpainHouses.netMay 10, 2012August 5, 2019Leave a comment

Closing: How to Make Sure Things Go Smoothly

When you buy a house or an apartment, there are several steps: You decide how much money you can spend; find a property you like; make an offer; negotiate an acceptance; sign a contract; line up your financing, and then close on the property.

So, in some sense closing is what you’re working towards. It’s the point where you sign the papers that make the home legally yours, and it’s usually when you get the keys.

Let’s take a look at key tips when closing:

1. Legal advice: Take care and get legal advice before signing any documents. A lot of property in Spain is sold before building has even started, in which case you will need to get proof of planning permission and plans of the property itself, and often foreign people sign contracts thinking they are expressing a formal interest in building plans whereas in fact they are legally binding themselves to a house sale.

...continue reading "Closing the Deal in Spain"

New Push to Uphold Spanish Banks

SpainHouses.netMay 9, 2012August 5, 2019Leave a comment

According to an article reading in El País, the government may inject public funds into the banking system if this is necessary to save the banking system.

The government had guaranteed not to give money to the banking industry which is struggling in the wake of a collapsing ten years of housing boom.

"If it was necessary to reactivate credit, to save the Spanish financial system, I wouldn't rule out injecting public funds, like all European countries have done," Mr. Rajoy said in interview with Onda Cero radio stations.

On the other hand, an official at Spain's finance ministry said measures that are expected to be approved by the cabinet on Friday will include guidelines to remove impaired real-estate assets from banks' balance sheets.

The segregation of toxic assets is seen as key to completing the clean up and calming investors.

The Spanish finance ministry official explained that the government and central bank are studying a specific cleanup plan for Bankia SA and Banco Financiero y de Ahorros SA, which could include a total change of their management. Newspaper El País said Monday the government also plans an injection of state funds via convertible bonds with a rate of about 8 per cent.

Sources: El País, Wall Street Journal.