Year on year property sales in Spain have increased for five months in a row, signalling that the residential real estate market is becoming more stable.
The latest figures from Spain’s National Institute of Statistics (INE) shows that sales increased by 10% in July on an annual basis and by 9% on a quarterly basis.
The INE doesn’t break down monthly sales figures by nationality, but real estate experts point out that foreign buyers are driving the sales increase. This suggests that there is plenty of scope for further increases when local demand picks up with falling unemployment and easier mortgage lending. ...continue reading "Property market is becoming stable in Spain"
Buying a home in Spain is cheaper than elsewhere in the EU.
As reported by an annual analysis on Spain’s real estate market conducted by Deloitte, the percentage of income spent by households on mortgage payments - rate of effort - has been steadily falling in recent years and currently stands at 33 per cent, as a result of the decline in house prices registered since the outbreak of the economic crisis.
Moreover, the average home price in Spain is 4.4 times the individual gross salary, compared to many countries in the European Union where prices are 6.1 times the individual gross wage and Britain and France, where the ratio is 8.5 and 7.9 times the individual income.
The public prosecutor has signalled its intention to demand the demolition of 98 homes owned by British citizens in Albox, Almeria, which were built on non urban land and, allegedly, without the mandatory municipal licences.
The 98 homes are situated in the El Romeral-La Aljambra area and were constructed between 2004 and 2006 and, according to the courts, “are not legal because they do not comply with current planning laws in Albox”.
Two brothers, known under the initials J.F.A.H. and D.L.A.H., who were developers and builders of the residential complex, under various company names - Proyecto y Construcciones Almanzora SL, Procoal Villas SL and Empire Villas Sl - apparently built the homes on land not zoned for building and without a municipal licence and not only disobeyed an order to cease activity completely but continued to build more properties. ...continue reading "Courts to request demolition of 98 illegal homes in Albox, Almeria"
The president of the Junta de Andalucía, Susana Díaz, stated in Wednesday’s state of the region debate that her government plans to apply changes to Andalucía’s planning laws, or LOUA, which could regularise up to 3,000 illegal properties in Malaga.
The proposed modification refers to Article 185 of the LOUA which states that subdivided plots of land are subject to urban planning and the necessary regulations. Changes to the existing article would allow buildings on these plots to be included in Decree 2/2012 - not previously permitted - which regularises illegal properties under something called ‘asimilado a fuera de ordenacíon’. This measure, while not permitting full legalisation and the granting of primary occupation licences, does permit property owners to access basic services such as electricity and water.
However the reform will only affect small subdivided plots of land - into two parcels or more - and not those on which whole residential estates have been built. Nor does it affect those plots built on protected land or flood plains.
Sierra Blanca Estates proposes to build The World Marbella on land where it had planned one of the skyscrapers that were rejected at the beginning of this year.
The five continents will no longer be represented in Marbella solely by the residents who hail from all over the world. Europe, America, Asia, Africa and Oceania, will give their names to the five sections of a new real estate development, a ‘microworld’ that will boast innovative design, top-of-the-range materials and as many services as residents could ask for.
The World Marbella is the name of Sierra Blanca Estates’ new project to be built on the site just metres from the Golden Mile where they had envisaged building one of the infamous skyscrapers that ended up being rejected by residents and council at the beginning of this year.
The scheme is attractive on paper and a select group of real estate firms are already showing it to potential clients - but only those who might be able to afford the between 1.3 and 3.4 million euros that these exclusive apartments are going on sale for. ...continue reading "A new project for 112 state-of-the-art apartments in Marbella"
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.