Spanish Governments measures to stimulate the economy
0 Comments Published by Property Finder Online on Monday, April 21, 2008 at 11:31 AM.
The Spanish Government has approved, in the cabinet meeting on Friday, 11 measures to stimulate the economy and make things easier for families facing financial difficulty in the current economic slowdown.
The measures include the ability for those in difficulty meeting mortgage payments to extend the loan at no cost.
A new plan to improve a return to the workplace for the unemployed.
New credit lines made available to those who want to purchase protected or subsidised housing.
It’s all part of the 10 billion € packaged announced earlier in the week designed to stimulate the stagnating economy.
The 11 measures are, in brief:
1: Help for families with mortgage payments by extending the loan at no extra cost.
2: Tax reductions, including the famous 400 € income tax rebate for all workers, pensioners and self-employed.
3: The cancellation of Patrimonio Tax, expected to cost the treasury 1.8 billion €. The measure back dated to Jan 1 this year.
4: Help in the re-location of the unemployed to find work. This plan has a budget of 21 million €.
5: Help for companies, with 2 billion in credit for Pyme small businesses.
6: VAT/IVA Payments – Companies can ask for VAT refunds monthly from 2009.
7: Assisted housing – new ICO credits of 5 billion, 2 more than previously planned.
8: Public works – new measures to speed up public works tenders and completion.
9: House construction – Plan to build 150,000 assisted or protected homes each year, and to promote energy efficiency in new buildings.
10: The renovation of old buildings – When the cost of renovation is more than 25% of the purchase price, tax breaks will be awarded including the return of VAT.
11: Foreign Investment – The Government will improve the investment conditions for non residents of Spain.
The measures include the ability for those in difficulty meeting mortgage payments to extend the loan at no cost.
A new plan to improve a return to the workplace for the unemployed.
New credit lines made available to those who want to purchase protected or subsidised housing.
It’s all part of the 10 billion € packaged announced earlier in the week designed to stimulate the stagnating economy.
The 11 measures are, in brief:
1: Help for families with mortgage payments by extending the loan at no extra cost.
2: Tax reductions, including the famous 400 € income tax rebate for all workers, pensioners and self-employed.
3: The cancellation of Patrimonio Tax, expected to cost the treasury 1.8 billion €. The measure back dated to Jan 1 this year.
4: Help in the re-location of the unemployed to find work. This plan has a budget of 21 million €.
5: Help for companies, with 2 billion in credit for Pyme small businesses.
6: VAT/IVA Payments – Companies can ask for VAT refunds monthly from 2009.
7: Assisted housing – new ICO credits of 5 billion, 2 more than previously planned.
8: Public works – new measures to speed up public works tenders and completion.
9: House construction – Plan to build 150,000 assisted or protected homes each year, and to promote energy efficiency in new buildings.
10: The renovation of old buildings – When the cost of renovation is more than 25% of the purchase price, tax breaks will be awarded including the return of VAT.
11: Foreign Investment – The Government will improve the investment conditions for non residents of Spain.
Medina Elvira Granada - Properties from €89,000!!!
0 Comments Published by Property Finder Online on Friday, April 4, 2008 at 10:26 AM.
April sees the launch of the latest off plan development to be released within the Medina Elvira Golf and Country Club.Groupo Balboa, the main developers of Medina Elvira, have announced plans to release the next phase of apartments to be built. Property Finder Online are proud and privillaged to be able to offer pre-release reservations from just €89,000.
The new phase will be called Altos de Elvira and will feature large communal gardens and a swimming pool. The plot is elevated and has stunning views over the fairway and to the Sierra Nevada. The design of the apartments will be modern and contempory with 1, 2 or 3 bedrooms.
Medina Elvira features an 18-hole Golf course with driving range and practice areas. The development is set in over 1 million square meters of natural surroundings, only 10 minutes from the city of Granada.
Within the complex there will be an International School, shopping center, Horse riding center and a 4-star luxury hotel. The club house will boast stunning views over the 18th hole and will feature a restaurant and bar area.
Most of the developments surrounding the golf course are well under way. The first phase, called medina 23, will be completed in 2008.
All of the projects within Medina Elvira are bespoke, the Fairways development features Penthouses and Garden apartments with Jacuzzi decks, luxry specifications and stunning views over the Golf course.
Tee-17 offers 1, 2 and 3 bedroom apartments facing the 17th fairway. This development boasts 3 communal swimming pools, a Gymnasium and Spa area.
Las villas de Medina Elvira is made up of luxury detached villas with private swimming pools located in an elevated position with breathtaking views. The villas feature full home automation to control lighting, window blinds alarm system etc etc.
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Spanish Property Market is still afloat!
0 Comments Published by Property Finder Online on Thursday, February 14, 2008 at 12:42 PM.
Overseas property buyers are keeping the Spanish Property Market afloat. Numbers of investors are increasing and reports show the trend is not dieing.
Spain continues to top the list as Britain’s favourite holiday home investment destinations of 2007 according to the latest league table published by one of the leading Holiday Lettings companies.
This confirms that Spain’s appeal is intact, despite the appalling press and doom-mongering that surrounded its property prospects last year.
Additionally, the portal identified a shift away from the pure investment buyer towards what it describes as a ‘mixed use’ investor, that is, people looking to use their property and rent it out when they are not there.
Top 20 holiday home investment hotspots 2006 2007
1-Spain
2-France
3-England
4-Italy
5-Portugal
6-Cyprus
7-Canary Islands
8-Turkey
9-Balearic Islands
10-Florida
11-Bulgaria
12-Wales
13-Greece
14-Scotland
15-South Africa
16-Australia
17-Croatia
18-Switzerland
19-Ireland
20-Canada (up from 30th)
The Spanish Property Market
0 Comments Published by Property Finder Online on Wednesday, February 13, 2008 at 11:56 AM.
The Spanish property market is made up of many different regional property markets and segments that are very different to each other.
A tiny "cheap" apartment on the Costa del Sol can not be compared with a large luxury villa in Marbella, and this type of apartment has even less in common with luxury villas in Mallorca, or traditional stone houses in Asturias.
They are worlds apart and in totally different markets, with different buyers, vendors, budgets, and supply / demand issues.
So when you hear negative stories and statements about the Spanish property market, they can be misleading. These reports don’t reflect the reality of different regions and segments, which move in different directions.
If you are looking to purchase in Spain, you need to do your homework about the different regions and areas available. It’s a good idea to identify your lifestyle and living requirements as the regions and areas vary greatly.
There may be a region or area that is reported as heading for a crash, but if you are looking to an area that is rising, the reports are not much use to you.
Its all about Location...
It is obviously a time of concern that large areas of the property market in Spain will drop in 2008, especially for holiday apartments on the coast that foreign purchasers look for.
Over the last decade there has been a massive amount of new build property in coastal areas that are coming up for completion. Wherever there are a large number of empty units, future planning approval will decline.
The interest rate will have an effect on the market. The rates are still rising and Spanish banks are nerveous about lending.
The real estate sector has changed the Spanish economy over the last few years, construction makes up a large percentage of it. The economy has relied heavily on construction, and with the economic situation as it is, the demand for most types of property will be effected in most areas, especially holiday homes on the coast.
Having said that, Spain is a massive country with very different markets. The markets differ so greatly that in some areas there will be a downturn, where others will be less effected.
2008 will see a massive amount of standard off-plan developments and properties coming through to completion in already established and built up holiday spots of the coast. Lots of these developments dont offer bespoke or exclusive features, such as Golf course, Sauna, Jacuzzi etc etc .
However, there are less of these properties and developments available in prime and key areas.
Where we will see a slow down in standard apartments, this will also effect more desirable developments in better location, but not as much and not for long.
Price is not always the concern for people looking to purchase a semi permanent or permanent home. Lifestlye and quality of life plays a massive part and a trouble free purchase may be more of a priority than the market value.
Spain is a great place to live and remains one of the top destinations for overseas property purchase given its distance and accessability from the UK and the stable politial situation.
2008 may prove the best time to buy with some cheaper property available on the market. But look at areas with infrastrucual enhancments and developments with quality finishes and facilities...
The Spanish housing ministry has officially released figures showing that property prices in Spain rose by 4.8% in 2007, down from 9.6% in 2006. However, calculating for inflation, prices rose in real terms by 0.6% in 2007.
All the separate regions of Spain tell a different story.
The top performers:
Granada region 8.5%
Murcia region 8.1%
The lowest performers:
Madrid 1.8%
Alicante 3.3%
In the final quarter of 2007 prices fell in the following regions
Extremadura -0.3%
Castellon -0.9%
Cantabria -1.9%
Cordoba -1.9%
If the government’s figures are correct, then the Spanish property market is in for a soft landing rather than a heavy crash. Experts and the government anticipate that prices will converge on the general inflation rate and allow housing affordability to return to normal levels over a period of years.
According to Kyero who are a leading property portal that publish a price index, asking prices fell by 2% in 2007. In real terms that’s an average of 245,000€.
An average 2 bed property fell by 8.3% to 245,000€
Average 4 bed properties rose by 3.8% to 357,000€
5 bed properties rose on average by 4.8% to 440,000€
Kyeros figures suggest that detached properties are holding their prices much better than apartments.
Spain is still a great place to invest or purchase, but make sure you buy the right property in the right place.
All the separate regions of Spain tell a different story.
The top performers:
Granada region 8.5%
Murcia region 8.1%
The lowest performers:
Madrid 1.8%
Alicante 3.3%
In the final quarter of 2007 prices fell in the following regions
Extremadura -0.3%
Castellon -0.9%
Cantabria -1.9%
Cordoba -1.9%
If the government’s figures are correct, then the Spanish property market is in for a soft landing rather than a heavy crash. Experts and the government anticipate that prices will converge on the general inflation rate and allow housing affordability to return to normal levels over a period of years.
According to Kyero who are a leading property portal that publish a price index, asking prices fell by 2% in 2007. In real terms that’s an average of 245,000€.
An average 2 bed property fell by 8.3% to 245,000€
Average 4 bed properties rose by 3.8% to 357,000€
5 bed properties rose on average by 4.8% to 440,000€
Kyeros figures suggest that detached properties are holding their prices much better than apartments.
Spain is still a great place to invest or purchase, but make sure you buy the right property in the right place.
Land grabs and villas demolished in Spain
0 Comments Published by Property Finder Online on at 10:41 AM.
Land Grabs and Villas Demolished
This is not the first time the Junta de Andalucia have pulled property down. Last year they orded the removal of 5 villas in Cordoba, one of which was someones permanent residence.
The Spanish Govenment are obvioulsy cracking down on illegally built properties.
The message is clear, if you are looking for property in Spain make sure you use a local Spanish lawyer and if there is any question over the title of the property you intend on purchasing, think first before you jump in!!
If you are a potential overseas property purchaser, you may be concerned or put off by the recent reports of land grabs and villas being pulled down in Spain.
Its not all bad news!!! If you are armed with the right information and the right advisors on your side, Spain still remains a safe and secure place to purchase or invest.
Most people have heard the case of the retired couple Len and Helen Prior, whose Villa was demolished in Vera, Almeria at the begining of January. This sistuation has sent a chilling message to ALL property owners in Spain. Land that the Junta de Andalucia regard as green belt, in some cases, is being returned to nature.
This horrific experience for the couple has obviously been heavily publicised by the UK and Spanish media. Some say the Junta de Andalucia did not respect basic human rights.
For people with the mind set of “we’ll be ok, we bought in good faith”.... it seems that this no longer applies.
This is not the first time the Junta de Andalucia have pulled property down. Last year they orded the removal of 5 villas in Cordoba, one of which was someones permanent residence.
The Spanish Govenment are obvioulsy cracking down on illegally built properties.
The message is clear, if you are looking for property in Spain make sure you use a local Spanish lawyer and if there is any question over the title of the property you intend on purchasing, think first before you jump in!!
Nerja Torrox Marina Project
1 Comments Published by Property Finder Online on Wednesday, February 6, 2008 at 1:59 PM.
The once dreamed about Marina Project for Nerja-Torrox will be a reality!
The Junta de Andalucia and the Mayor´s of both Nerja and Torrox, have announced the fantastic news that the long awaited Marina will finaly go ahead and construction is due to start in 2008.
The Marina will be called Puerto Deportivo Nerja-Torrox and will be located on Playa Wilches which is directly next to and in front of the Calaceite Golf Development.
500 berth Marina to cost 33 million Euros!
The project will cost around 33 Million Euros and will take around two years to complete when work gets underway.The marina will offer 500 new berths for boats between 8 and 25 metres in length and also 90 metres of quay side to accommodate larger boats of up to 35 metres long.
The marina will cover a total of 229,000m2, 72,000m2 of which will be on land.A large commercial centre of 3,500m2 will be available for restaurants, cafeterias, shops etc and parking for some 300 cars.
The marina will be a massive asset to Nerja and Torrox that will increase tourism.
There are currently 40 marinas along the Andalucian coastline, 11 of which are located in the Malaga province.
It is estimated that 4200 berths are occupied along the entire coastline.
In the Marina of Caleta de Velez alone, there is a 4 year waiting list for a berth, therefore a new marina offering 500 berths will be greatly received.
It is estimated that 4200 berths are occupied along the entire coastline.
In the Marina of Caleta de Velez alone, there is a 4 year waiting list for a berth, therefore a new marina offering 500 berths will be greatly received.
