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Tag: Property

Published on Leave a comment on Spain Property More Attractive for Investors

The number of investors viewing Spain as the most attractive market for commercial real estate purchases has increased dramatically as investor interest grows for European recovery markets.

Barcelona 300x204 - Spain Property More Attractive for InvestorsInvestor confidence for Western Europe grew compared to last year, with 71 percent of investors choosing the market as the most attractive global region for investment, according to CBRE's European Real Estate Investor Intentions survey.

Of those surveyed, 19 percent viewed Spain as the most attractive for investments in 2014, up from 6 percent in 2013. The city of Madrid is second only to the popular London market, changing dramatically from last year. Barcelona also made the investors' top ten list.
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Published on Leave a comment on Tax Authorities Detect 30,000 Undeclared Properties and Building Works

The campaign by the Spanish tax authorities to find all newly built structures, alterations or changes of use of properties which have not been declared to the Land Registry is starting to show results.

home 300x200 - Tax Authorities Detect 30,000 Undeclared Properties and Building WorksThe first phase of Hacienda’s plan has covered 486,000 properties in 29 municipalities in Malaga province so far, especially Fuengirola, Benalmádena, Mijas, Vélez, Antequera, Alhaurín de la Torre, Cártama and Alhaurín el Grande.

Inspections have revealed 30,113 buildings (6.2 per cent of the total) which had previously been invisible to the authorities for tax purposes because neither their owners nor the respective town halls had declared them, irrespective of whether or not they had works licences and the necessary certificate of occupancy.
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Published on Leave a comment on Half of the town halls in Málaga province have taken no steps to legalise homes

Three years after the Junta de Andalucía’s planning decree 2/2012 came into force, only half of the municipalities in the province of Málaga have actually made any progress in their part of the process. The decree, an attempt to bring some sort of order to the maze of illegal construction in rural areas, required local authorities to draw up an Spain4 300x128 - Half of the town halls in Málaga province have taken no steps to legalise homesinventory of structures on land classified as ‘no urbanizable’ or to hand in a declaration stating that there were none.

Few town halls in the province have done this, an essential step before the properties can be named as Asimilado a Fuera de Ordenación (AFO). This status in any case has been declared as unacceptable by many home owners as it merely allows the properties to remain standing without making them fully legal.
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Published on Leave a comment on Fantastic Detached Villa for Sale in Dénia, Alicante

4 bedroom, 3 bathroom, Plot 765m2, Useful area 394m2, Swimming-pool, 500m away from the Beach, Second Hand, In Urban Area, Dénia, Alicante

This villa is located in a residential area, 2,5 km far away from Dénia’s city centre, and the beach Marineta Casiana. It has 4 bedrooms, 3 bathrooms (1 en-suite), a guest’s toilet, separate kitchen with dining area and lounge, plus a garage for two cars. Features air conditioning in all rooms and, outdoors, a large swimming pool, terraces, garden, shower and a toilet, plus a garage for two cars. There are fabulous views of the mountain, and from the top floor it is also possible to see the city and the beach.

1. Villa for sale in Dénia - Fantastic Detached Villa for Sale in Dénia, Alicante
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Published on Leave a comment on Seven Spanish regions ended 2014 with higher prices than in 2013

The timid recovery of the Spanish real estate market has started to become noticeable in property prices.

1786826 300x225 - Seven Spanish regions ended 2014 with higher prices than in 2013Free-market house prices experienced their first quarterly increase in late 2014, according to figures released by the Public Works Ministry. There had not been an uptick in the market since early 2008.

Prices rose 0.5% in Spain as a whole thanks primarily to a surge in demand for existing homes, which now represent nearly two thirds of sales.

The value of existing homes grew 0.2% from the previous quarter, while the price of new homes retreated 0.1%.

The average price of free-market housing in the last quarter of 2014 was €1,463.10 a square meter.
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Published on Leave a comment on Russians turning away from Spanish property

The weakened Russian ruble has led to a decrease in the number of Russian buyers of Spanish property.

Villa for sale in Marbella 300x200 - Russians turning away from Spanish propertyFalling oil prices, the decline in the currency and international sanctions against Russia over the crisis in the Ukraine, have led to Russian buyers turning their backs on Spain.

Ramón Riera, president of FIABCI - a group of 120 property specialists - told to Business Insider that Russians are not buying right now and that they are even getting rid of their Spanish properties.

In 2014, the ruble lost 40 per cent of its value against the euro and the Russian government forecasts that its economy will shrink by 3 per cent ...continue reading "Russians turning away from Spanish property"

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Published on 3 Comments on Legal resolution changes the situation for off-plan property buyers

An Estepona-based lawyer, Óscar Calvo, has succeeded in obtaining a legal resolution which improves the situation for off-plan property buyers.

Houses in Benalmadena 300x164 - Legal resolution changes the situation for off-plan property buyersThose who bought homes off-plan customarily signed a deal with developers and the bank which guaranteed the refund of any monies paid upfront if the property was not handed over as promised. However this guarantee was invalidated once the primary occupation licence was issued.

Now the situation has changed with the judicial resolution obtained by Calvo which eliminates this invalidation process because it is unlawful. Buyers who signed up to this bank guarantee after 1999 can request a refund.

According to Calvo, he was able to push for the court resolution because the law has been badly interpreted.
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Published on Leave a comment on Madrid and Valencia: potential property hotspots for 2015

Valencia and Madrid have been named as potential property investment hotspots for 2015 as the country’s property market continues its recovery.

valencia 82146 640 300x225 - Madrid and Valencia: potential property hotspots for 2015Madrid is currently undergoing a revival following a rocky ride during the last seven years and Valencia’s position as a key tourist destination mark them out.

In Madrid official figures show that sales were up 17% in 2014 over 2013 and the city and surrounding region have seen their first property price rises since 2007.

 

It adds that as well as being popular with overseas visitors Valencia is a business and investment hub. Latest figures suggest that the number of property sales in Valencia has increased by as much as 30% compared to 2013 figures.
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Published on Leave a comment on Barcelona is the most expensive city to rent a home

While Madrid is the most expensive region to rent a home, at a monthly cost of €10.20 per square metre, followed by the Basque Country (€10 per square metre), Catalonia (€9.20) and then the Balearic Islands (€8.10), Barcelona is by far the most expensive city. There, tenants must shell out an average of €12.50 per square metre apartments in Barcelona 300x200 - Barcelona is the most expensive city to rent a homeevery month, meaning a small, one-bedroom flat of 50 square metres will cost €625 a month.

And after rising 11 per cent last year, Barcelona rents look to be booming.

Murcia saw the biggest drop of 4.4 per cent, and is one of the cheapest regions in which to rent, at an average of €4.70 per square metre per month.

Extremadura (€4.20) and Castilla-La Mancha (€4.40) are the only cheaper regions in Spain for tenants.
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Published on Leave a comment on Homes sales up again in Spain in September

Home sales in Spain increased again on an annual basis in September after dipping in August, according to the latest figures from the National Institute of Statistics.

Sales went up 13% in September and excluding social housing, there were 24,096 sales registered, the highest level in four years and 14% up on a monthly basis.

29507996 1512178 foto35083231 300x199 - Homes sales up again in Spain in SeptemberIn the 12 months to the end of September there were 216,682 sales inscribed in the register, almost identical to the same period last year.

This year is clearly an improvement on last year, excluding the first two months of the year when figures were artificially distorted by tax changes.

The data also shows that the difference between resales and newly built properties continues to widen, though sales of both types increased in September, with resales up 17% and new builds up 10.5%.

A breakdown of the figures on a regional basis show that the province of Malaga, which includes the Costa del Sol, along with the Balearic islands have seen sales rise close to 15% this year.
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