All posts tagged Costa Blanca South properties for sale
2015 will be the year many people buy their dream home in the sun, probably on one of the Spanish Costas. The Spanish Banks certainly hope so!!
The early indications from the recognised Spanish Property experts suggests that in some locations the prices have now started to increase, and the availability in some locations also appears to be reducing.
We understand that the hundreds of thousands of available Bank properties have reduced significantly, leaving properties that in some locations, may never sell due to their condition and size. It is good to see that new build projects are on the increase though, especially on Spain’s Southern Costa Blanca, to meet the demand from all over Europe and the rest of the world.
A major factor in the increase in the number of sales is that the Spanish banks are now lending again, although with a criteria akin to how the UK lenders are now offering mortgages. At current rates this is a vehicle that could be factored into any potential buyers funding options. By doing so it effectively brings back to the buyer the availability of choice coupled with the fact that the bank will also do due diligence on the property, so effectively a double check on the property status.
An example of this is a client with £75,000 available to buy their dream home in Spain; they may wish to consider using £50,000 of this therefore retaining £25,000. The client could then borrow 63,000 euro giving them funds (at a rate of 1.27euro/£1) of circa 126,000 euro to use to purchase their property.
By considering the action of taking a mortgage that client has dramatically increased the number of available properties to them, both new and resale, and more importantly the locations they can select their dream home from (providing it’s affordable.) With a smaller budget comes a more limited number of options and potentially not buying, or even worse buying something they don’t really want.
Using a Mortgage broker to obtain the most suitable mortgage for you is possibly a better option as opposed to going direct to a Spanish Bank, as the deals to brokers are coming up daily that may suit a particular buyer.
Currently the Loan to Value or Loan to purchase price (whichever is the lower) mortgages peak at 70% for non-Spanish residents (subject to credit status) with term in some cases up to 30 years or 75 years of age (whichever is the lower.)
The Euribor Rate currently is circa 0.37%, so deals could be available at Euribor plus 1.5% for premium clients, maybe a little higher for others, for an initial period.
As with all financial projects, prospects should take advice from a specialist in the country of purchase. Your Place in Spain Ltd are happy to introduce Mortgage Directa, a Spain based mortgage brokerage.
Mortgage Directa are happy to discuss client requirements, access the link on the bottom right of our home page and find out more – www.yourplaceinspain.com
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Whilst we understand that there are in excess of 50 new developments under construction right now on the Southern Costa Blanca, there is also a world of possibilities available just a hop, skip and a jump away in the beautiful Murcia region.
Close to the idyllic Mar Menor there are a number of developments that we believe buyers should seriously consider. The majority of developments are located on the beach side of the coast road N332, just 20 minutes drive from San Javier Airport and 50 minutes from Alicante Airport. The low rise developments of both apartments and villas are generating considerable interest for bargain hunters from all over Northern Europe.
One of these developments is still in the first phase of construction and there is still availability at, the very impressive, opening price of 169,000 euro. This development is at the location San Pedro del Pinatar, only minutes walking distance from the beach.
San Pedro del Pinatar
This bustling little town lies to the north of the Mar Menor. It is a very popular summer destination for Spaniards and ex-pats alike. There are a dozens of bars and restaurants here to cater for all tastes and budgets. The best known dish of the area El Arroz Caldero, a rice and fish dish cooked in an iron cauldron, is the speciality of the town.
There are lovely beaches on the Mar Menor, as well as access to the Mediterranean and the Region San Pedro del Pinatar. The marina has a good few restaurants and cafes and is a great place to sit in the sun and enjoy a cool drink and soak up the sun.
Phase 1 of this development consists of 6 semi-detached 3 bedroom villas with swimming pools, a modern contemporary design & construction. A finished garden including your very own Palm tree too. The kitchen appliances of an extractor hood, oven & hob, washing machine, fridge freezer and dishwasher,* are also supplied on this phase.
Villas at San Pedro del Pinatar
Currently 50% have sold, so you need to be quick and with a construction time of just 6 months, you could be enjoying ‘Your Place in Spain’ just in time for your 2015 summer holiday!
If you are considering buying a property in Spain we have further more available properties to buy in Costa Blanca South and North, Murcia, Marbella and Costa Almeria.
Click here for more details https://www.yourplaceinspain.com/property/forsale-sanpedrodelpinatareur169000ourrefmvrspdpj/
For further info please contact Your Place in Spain Ltd on 0161 870 2276 or via email at info@yourplaceinspain.com
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