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Tag: Property

Published on Leave a comment on Alicante’s property market is finding salvation in Russian investors

In Alicante, the euros are flowing in from Moscow. Russians have become the saviors of the Mediterranean province's property market and tourism sector, and now that Cyprus - their former Eden - has been bailed out by the EU, Russians are turning to Alicante to lay down their money. First they come on vacation for a few days to check out the beaches and the climate on the Costa Blanca, and later they return to purchase a holiday home, cash in hand - no down payments, no mortgages necessary.

Alicante1 300x225 - Alicante's property market is finding salvation in Russian investorsClients from Russia have overtaken the British in the foreign home-buyer ranking. Half of the 7,000 residences sold to non-Spaniards in Alicante province last year went to Russian families, a market that represented less than five percent of the total just four years ago.

What with the Russians buying and the British selling, the area of La Vega Baja is experiencing a new property boom that places Alicante at the top of the Spanish list of existing home transactions. According to Public Works Ministry figures, the province topped the list of home sales to foreigners during the first nine months of 2012. Most of the total of 2,501 transactions involved Russian buyers. Málaga was a distant second on 1,111.
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Published on 2 Comments on House of the week: Amazing Villa for Rent in Madrid

6 bedrooms, Area Lot 2,508m2, Built area 1,164m2, Madrid, Spain

Luxury villa in La Florida, in gated community with 24 hour security.

Housing over 1,100 m2 built on a plot of 2,500 m2.

It has 5 main bedrooms suites, office, playroom, living in three rooms with access to a large porch and garden, guest room, kitchen with office and service area. 3 floors with elevator.

Outdoor pool 12m x 5m infinity. Spa Pavilion, an indoor pool, jacuzzi, gym and seating area. Playground area.

Garage for 4 cars. 2 storage. Great trees. Alarm and home automation. Paddle.

More info on: SpainHouses.net

1014301 4343018 13 - House of the week: Amazing Villa for Rent in Madrid
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Published on Leave a comment on Popular Party blocks key elements of draft eviction bill

The Popular Party (PP)'s refusal to back a popular initiative for the concept of dation in payment, whereby a homeowner unable to meet mortgage payments can cancel the debt with the bank by handing over the keys, was met with indignation by the Mortgage Victims Platform (PAH).

Flats - Popular Party blocks key elements of draft eviction billOn Tuesday the government presented its amendments to the so-called Popular Legislative Initiative, which reached the lower chamber on a wave of public support that included 1.5 million signatures.

The rest of the parliamentary groups accepted the basic points of the proposal: universal and retroactive dation in payment; a halt to evictions; and the creation of a glut of social housing to support those who have lost their homes.

The PP, though, stated that "not now, nor during the parliamentary process" of amending the proposal will it entertain universal dation in payment. "It is an insult to the people affected," said PAH spokeswoman Ada Colau on Wednesday. "The PP has caved to the bullying of the banks." The government, she added, has destroyed the spirit of the bill by quashing its main objectives.
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Published on Leave a comment on Spain’s property market attracting a growing number of Scandinavians

There has been a large rise in the number of Scandinavian people buying new property in southern Spain, particularly the Costa del Sol.

Costa del Sol 300x187 - Spain's property market attracting a growing number of ScandinaviansOne leading house builder has seen a 311% increase in Scandinavian purchasers and they now account of a fifth of all buyers.

One reason is that the Scandinavian countries have in weathered the financial storm better than most and more potential buyers are able to invest in property.

The firm believes that the trend seems set to continue into 2013 with January sales figures already up 300% on those for the same month in 2012 and the cumulative February sales up 500%.

The interest from Scandinavian markets continues to boom as buyers take advantage of favourable exchange rates and reduced Spanish house prices to purchase their dream second home abroad.
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Published on Leave a comment on Spain Better to Rent than the UK

Investors now get better gross rental yields in Barcelona and Madrid than in London or Paris. Assessing house prices and For rent house 300x199 - Spain Better to Rent than the UKthe amount that could be eared renting our property, the findings by a Spanish property portal concluded that gross residential rental yields in Barcelona (4.1 cent) and Madrid (4 per cent) are now better than London (3.4 per cent) and Paris (3 per cent).

Falling house prices and the glut of people who cannot afford to do anything other than rent means that investors are winning at both ends of the Spanish property market. Not only are they able to pick up bargain real estate, but are then able to set a high amount of rent, increasing their income.
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Published on 1 Comment on Spain’s ‘bad bank’ begins business

Last week, Spain’s so-called ‘bad bank’, which was set up in December 2012 to take over toxic property and land assets from the country’s troubled financial institutions in order to ‘cleanse’ their books, started promoting its first batch of properties.

2705707 935679 foto 1 300x156 - Spain’s 'bad bank' begins businessThe new state-run bank, ‘Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria’, known by its acronym SAREB, began its operation by putting 13,000 properties, once belonging to rescued lender Bankia, on the market.

In total, by the end of last year, SAREB had taken on 37 billion euros worth of assets from four nationalised banks. In exchange, the banks received EU rescue funds as well as bonds.

These assets, purchased at knock-down prices are to be sold on to investors over a 15-year period, offering a minimum return of 14 per cent.
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Published on 2 Comments on Modern and Stylish Vacational Home in Madrid City Centre

3 bedrooms, 2 bathrooms, Built area 160m2, Area useful 150m2, Luxury property, Capacity for 6 people, Central Heating

Elegant and bright apartment, impeccably decorated in a modern style, simple lines and high qualities.  The home is Located in the very centre of Madrid, in Goya, close to Alcalá Street and the well known park of El Retiro.

3184080 962404 foto18219240 - Modern and Stylish Vacational Home in Madrid City Centre
Living Room

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Published on Leave a comment on Property sales expected to increase in Spain in 2013

The last quarter of 2012 saw a positive end to the year with a flurry of British and other international buyers taking advantage of falling prices and a reduced VAT rate on new properties in Spain.

News 300x199 - Property sales expected to increase in Spain in 2013The higher end of the market also seems to have performed well and at the lower end of the market what are regarded as bargain prices are attracting buyers, especially those with cash as getting a mortgage in Spain is not easy.

Mortgage tax relief has been abolished and VAT on new homes goes up to 10% on 01 January. The temporary reduction of VAT to 4% has boosted the number of overseas buyers.

Foreign buyers have tended to dominate the market in 2012, mainly Belgian, French, Norwegian, Swedish, and a welcome resurgence of more British buyers over the last three months.
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Published on Leave a comment on Chinese are drawn to Málaga by new promise of residency for buyers

At the moment it’s nothing more than a declaration of intention by the government.

costa del sol 300x145 - Chinese are drawn to Málaga by new promise of residency for buyersNevertheless, since the announcement of the plan, three weeks ago, to give residency to non-EU foreigners who buy a home in Spain for more than 160,000 euros, the stagnant property market on the Costa del Sol has started to move a little.

With around 15,000 new homes without buyers, a national property market paralysed by the crisis and Europe on a go-slow, estate agents see this new measure as their last chance to offload stock and to get things moving again.
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Published on 1 Comment on Spain to give legal residence to non-EU property buyers

There’s no such thing as an illegal immigrant with money. At least not in Spain thanks to the Government’s new strategy to revive the real estate market. The proposal is to change the immigration law to grant legal residence to non-EU citizens who buy a property in Spain for more than 160,000 euros.

casa 300x225 - Spain to give legal residence to non-EU property buyersSecretary of State for Commerce Jaime García-Legaz announced the project on Monday although later Prime Minister Rajoy stressed that as yet “no decision had been taken”.
There was an immediate response from other political parties, unions and immigrants’ associations, who described the plans as “strange” and “implausible”.

García-Legaz explained that the reform process would be set in motion within a few weeks and that he considered the 160,000 threshold to be “balanced” with respect to the government’s objectives.
“We can’t establish a lower price limit, because that would generate a massive demand for residence permits using a property as an excuse to get one,” he stressed.
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