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
Spanish property recovery is underway and prices will start to rise by 10pc per year says expert
November 24, 2009 · Leave a Comment
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Tagged: Costa del Sol, news, property news, property prices, property spain, spanish property
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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Tagged: bank, Costa del Sol, Costa del Sol Real Estate, developer, new build, property for sale, property news, real estate spain, spain
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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Tagged: cost of carry, Costa del Sol, Costa del Sol blog, florida, PPP, property, spain
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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Tagged: cost of carry, Costa del Sol, florida, PPP, property spain, spain, spanish property
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.
Regards
Andrew Belles
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Tagged: Costa del Sol, property blog, property valuation, spanish property, tinsa
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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Tagged: environmental, Fuengirola, fuengirola town hall, solar panel, solar power, town hall
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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Tagged: expansion, jobs, Marbella, marbella property, PTO, real estate, technology
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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Tagged: economic crisis, property, property for sale, real estate spain, spain
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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→ 1 CommentCategories: Costa del Sol News · Costa del Sol property
Tagged: andalucia property, costa del sol development, costa del sol property for sale, development, junta de andalucia, property for sale, property news
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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Tagged: bank, bank repossessions, bank repossessions costa del sol, Costa del Sol, property for sale, repossessed property, repossessions, spanish banks
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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Tagged: Costa del Sol, euribor, mortgages, news, property mortgages
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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Tagged: banana beach, Costa del Sol, Costa del Sol blog, developer, Marbella, marbella property, news, observer, PGOU, property for sale, southern spain, spain, spanish property
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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Tagged: aifos, aifos bankrupt, aifos bankruptcy, aifos financial, andalucia, bankuptcy, developer, legal advice, southern spain, spain, spanish law
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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Tagged: Costa del Sol property, costa del sol property news, developer, property market, property news, spanish property
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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Tagged: Costa del Sol, Costa del Sol blog, costa del sol property for sale, Costa del Sol Real Estate, investment, investment property, news, property, spain
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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→ 6 CommentsCategories: Costa del Sol property
Tagged: benalmadena costa, benalmadena property, costa del sol businesses, Fuengirola, fuengirola property, Mijas, mijas costa, Mijas Costa property, mijas property, property for sale, property market
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