Costa del Sol property blog

Spanish property recovery is underway and prices will start to rise by 10pc per year says expert

November 24, 2009 · Leave a Comment

I recently read an interesting interview with Mikel Echavarren, head of Irea, a Spanish real estate consultancy, talking about the state of the real estate sector in Spain. As an experienced professional in touch with many different companies in the sector it is worth listening to what he has to say. Here is a selection of comments from his Q&A with Idealista News, the news section of the property portal Idealista

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Recovery in the sale of new build property

November 21, 2009 · Leave a Comment

According to Pedro Pérez, the general secretary of the G-14 (association of Spanish developers) the sale of newly built property has started a mild recovery, and this position will be consolidated in the coming months. Backing this up, the latest INE (Spain statistics institute) statistics showed an increase of 7.6% in inter-monthly sales, with over 20,000 sales in September.
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Spain is not Florida (part 2)

November 17, 2009 · 1 Comment

Sometimes the comment facilities provided by blogs work wonders. We’ll first deal with a few objections raised about the methodology, data or conclusions of the previous post. Then we’ll get to the crux of the matter – how these cost-of-carry figures change, or fail to, as seen by banks in the event of bank repossession in Spain and the United States.
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Why Spain is not Florida

November 17, 2009 · 2 Comments

We publish this piece knowing full well how incredibly stupid one looks when his off-centre analysis proves erroneous, and how unscathed totally faulty predictions come out of the fracas as long as they are accompanied by many others of their ilk. We don’t care.
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Costa del Sol property valuations

November 17, 2009 · Leave a Comment

By Tinsa for October are continuing to show a positive trend with year-on-year prices for Spains mediterrenean coast down just 9.9%, the best result since November 2008.

The last positive increase by TINSA was in January 2008 with average valuations along Spain Mediterreanean coast as 2537€/m2. They now stand at 2082€/m2 as of October. That means to date there has been a 17.93% decrease from its height.

As always, please note these figure refer to valuations and not actual sales prices and that these figure refer to the entire mediterranean coast and not specifically for the Costa del Sol.

TINSA October Report

Regards
Andrew Belles

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Fuengirola and solar panels

November 13, 2009 · Leave a Comment

It was recently announced by the town hall in Fuengirola that work would start on the installation of Solar panels on all public buildings in Fuengirola. From what has been reported this work is to start this November and on completion will generate, in real time and with immediate effect, the equivalent of the power used by 304 households in a year.
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Andalucía Technology Park expanding to Marbella

November 7, 2009 · Leave a Comment

With the success of the Andalucía Technology Park (Parque Tecnologico de Andalucía) in Malaga, the Junta de Andalucía has declared the establishment of a new Technology Park Marbella.

The head of Innovation, Science and Business for the Junta has said that the new site will cover 197 hectares on land that is currently made up of 300 privately owned estates and is designated as an “area of opportunity” for the Costa del Sol in the POT plan. The idea would be to reach a public-private agreement with the participation of Marbella Town Hall and the landowners along with the regional authority for the development of the project.
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10 Tips To Help Sell Your Spanish Property In A Crisis

November 6, 2009 · 1 Comment

I have just found these ten tips on how to help sell your property, written by Nick Snelling, the author of “How to sell your Spanish property in a Crisis”. I have included links below.

1. Treat the selling of your Spanish property with the same seriousness and commitment that you would a job of work
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Andalucia to subsidise home buyers to tune of 1 billion Euros

November 6, 2009 · 1 Comment

The government of Andalucia, or Junta, announced yesterday a subsidy of 1 billion Euros to help liquidate the region’s property glut estimated at around 70,000 newly-built homes.
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Spanish bank provisions to double

November 5, 2009 · 1 Comment

It has recently been announced that the Bank of Spain will be introducing new rules in the next few weeks to double the amount written off by Spanish banks and Cajas (saving banks) when the banks hold repossessed properties for longer than a year.
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Euribor and Spanish mortgage news

November 5, 2009 · 2 Comments

Euribor (12 months), the interest rate normally used to calculate mortgage payments in Spain, fell 1.4% in October to a record low of 1.243%.

Euribor has now fallen for 13 consecutive months, and is 76% lower than it was a year ago. The graph above illustrates how dramatic the fall in Euribor has been.
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Condemned Spanish apartments advertised to UK buyers

October 20, 2009 · Leave a Comment

‘This development, being built by one of the largest and most distinguished development companies on the Costa del Sol, is just a three-minute walk from Marbella town centre. The apartments in Banana Beach consist of one, two, three and four bedrooms, fitted to the very highest standards possible.”

Sounds great doesn’t it? You’d never guess from this glowing description that the Banana Beach development was built illegally and has been condemned to demolition. Despite this, the properties are being advertised on websites targeting UK buyers.
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The British want to buy in Spain

October 19, 2009 · Leave a Comment

I recently read an an article in the Sur in English, which talked quite positively about British looking to buy in Spain. They recently attended a property exhibition called “A Place in the Sun” held at the NEC in Birmingham. Although smaller than previous exhibitions in the UK, “A Place in the Sun”, backed by the TV programme of the same name, held a successful show with a large turnout of people looking at overseas properties.
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Buying a Business in Spain

October 15, 2009 · 1 Comment

Why Move to Spain?

With the ever increasing costs of living in the United Kingdom and the many negatives that people are facing in their every day lives, it is not surprising that thousands upon thousands of people are emigrating to a country that offers them a better quality of life.

Spain is the top destination for British people looking to emigrate and one of the most popular areas they very often choose is the Costa del Sol.
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Spanish Property Index 2nd Quarter 2009

October 1, 2009 · 1 Comment

The latest quarterly property index has just been released by Spain’s Statistics Institute (INE). I have included all the pertinent information from the document below.
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Taking Aifos to Court

September 28, 2009 · 4 Comments

As it is already well known, since 23rd of July the AIFOS Bankruptcy has initiated a new chapter in this creepy story. The situation was foreseeable as the reputation of this company was well known. Aifos commercialized developments at very competitive prices and had very good marketing strategies. They did not have building licenses, sometimes they were not even owners of the land, and in the majority of the occasions they did not grant the bank guarantees ordered by law nor did they deposit the monies received in a special bank account as established by law. How could they keep this behavior for years should be a matter of a deep and serious study. The financial crisis and the sudden end of the property market boom provoked this predictable end.
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Spanish Property Market update

September 25, 2009 · 1 Comment

According to Spain’s national institute of Statistics (INE) the collapse in property sales may be coming to an end. Based on the latest figures from July (link below), there were a total of 37,079 property transactions in the month, of which 33,694 were standard sales and 3,345 were social housing (VPO).
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Spanish property set to make a recovery?

September 24, 2009 · 3 Comments

I have recently read an article by Mark Stucklin that I thought gave a fair reflection on the current state of the Spanish property market. Although less specific to the Costa del Sol, it does give a balanced view on the state of the national property market.
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Pseudo-experts and Spanish property

August 28, 2009 · 3 Comments

At the beginning of August I saw an article in Money Week discussing the Spanish property market. Now for those of you that might not be familiar with the site, it looks primarily at investments; property, stocks, etc… Anyway, this respectable site wrote about the Spanish property market, which if you follow my blog, as an estate agent on the Costa del Sol could only be of interest to me.
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Fuengirola property market

August 19, 2009 · 6 Comments

The summer months are traditionally a quiet time in the Real Estates business on the Costa del Sol as many of the people who visit the area are primarily in holiday mode. Beach, sangria and nightlife are the main concerns with little thought given over to property purchases.
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