Well depending on which ‘experts’ you ask the answer if going to vary. Some are going to say yes while others say no. For myself and our office its quite simple. What sort of property are you looking for? What sort of budget do you have?
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I’ve just finished reading an article on the time.online about property in Spain and it actually made me laugh out loud. As with most media these days hyperbole and sensationalism to be the name of the game.
For the first time since 1993 the Spanish Ministry of Housing has stated that property prices in Spain have fallen by 3.2% (adjusted for inflation 4.6%) in 2008. The areas that saw the highest falls were the province of Madrid at 7.6%, Murcia and Tenerife at 5.8% and Castellon at 5.3%.
According to Tinsa’s property price index on the Mediterranean coast fell by 14,3% in 2008 with a lower drop in the towns and cities at 10,2%. For you information Tinsa is one of Spain’s leading appraisal companies.
It also appears that this fall applies to both newly built and resale properties.
RESALE TRANSACTION. PURCHASE PROCESS
These are the three main stages of the purchase process in Spain:
1- Reservation agreement. Once that you have decided to buy a specific property in Spain, it is important to reserve it in your name, this way you will take it off the market and also freeze the price. The amount normally required is 6.000€, which will be deducted from the final payment.
According to the Spanish press, Aifos a developer known for such projects as Terrazas de Torreblanca and Las Caballerizas, has been forced into receivership by one of its creditors!
A beautiful 2 bedroom, 2 bathroom apartment on sale in the renowned Cala Hills urbanisation by Mijas Golf on the Costa del Sol. This property has a large 24m2 terrace that has been enclosed with glass curtains. Great for taking full advantage of the terrace during the cooler months. The lounge itself is large and spacious while the kitchen is well equipped and modern. The property is being sold with parking included and the urbanisation offer community pool and attractive gardens. The property itself overlooks both the community pool and gardens and the surrounding green zones. Well located for golf enthusiasts. Very well priced for these sorts of qualities. Price: 229.000€
Due to a growing demand for businesses in Spain, Arriba Estates is now unveiling its fast growing commercial department Spanish Bars.
Fabulous 2 bedroom, 2 bathroom Front line beach apartment on the Paseo Maritimo of Fuengirola. Located near the centre of both Fuengirola and Los Boliches this apartment is within walking distance of all facilities and amenities. The apartment is being sold fully furbished and has recently been reformed to a high standard. Large west facing (afternoon/evening sun) 28 m² terrace that has been partially enclosed. The property also has partial sea. The apartment also has a proven, successful rental track record. Priced to sell at 275.000 Euros. See below for further information.
Just been to see a surprisingly attractive 2 bedroom, 2 bathroom bungalow in Arroyo de la Miel, Benalmádena. Located in an urbanisation this home has the benefit of being both private but still part of a small community. With easy access to motorway you are just minutes from all the surrounding towns and the airport. With a large 90sm terrace and garden there are plenty of opportunities to enjoy the outdoor lifestyle so many people crave when they move to the Costa del Sol. The urbanisation itself has a community pool and gardens. The kitchen and bathrooms have also been recently reformed. Price 229.000 Euros. See below for more details.
Many potential buyer’s of property on the Costa del Sol buy with the idea of renting. Either they are intending to have a buy to let, or simply wish to rent the property for the months they are not using it to mitigate some of their costs.
Many buyers though are not familiar with some of the potential pitfalls of renting out their property. Although the laws vary slightly depending on where you are in Spain, below you will find a general guide to rentals on the Costa del Sol.
It appears that is these difficult times, many town halls all here on the Costa del Sol are a range of incentives and discount to help motivate us to pay our taxes, etc… This information is based on an article from the Sur in English from the 10th of October. I would recommend using the following information as a guide, contact you town hall directly and find out what other schemes are in place that by be a benefit.
Recently built ground floor apartment with own garden. Located in a quiet urbanisation in Mijas Golf on the Costa del Sol, the property measures 70m2 with 15m2 of patio and 43m2 of garden. Located in a gated complex with pool, garden and children’s play area and paddle tennis court. Also conveniently situated for golf. The property comes with underground parking and additional storage. Sold fully furnished. Price: 199.000 Euros. Please see below for further details.
Pretty 2 bedroom, 2 bathroom apartment located in a attractive urbanisation in Benalmadena on the Costa del Sol. The property measures 60m2 and an additional 32m2 of terrace offering panoramic views of the surroundings. There are community gardens as well as a large pool and a children’s pool. Best priced property in the surrounding area! Price 199.000 Euros. Please see below for further details.
