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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

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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As autumn starts to turn the weather to a rather chilly temperature here in the UK, we love hearing the news from our friends in Spain about the many bright and sunny festivals taking place across the country rounding up their summer festival season.

I posted on our Facebook page last week about the fantastic festival that is ‘Cava Week’ in Barcelona, with the crowning of a Cava Queen, a Cava train journey and a whole week dedicated to the sparkly, golden drink.  We would happily join in those festivities any day, but that isn’t the only festival to happen in October in Spain.

Cava Week in Barcelona

Cava Week in Barcelona

The Feria de San Pedro de Alcantara , or the San Pedro Fair, started yesterday in San Pedro de Alcantara in Marbella, to celebrate the Patron Saint of San Pedro.  This festival turns the whole area in to a hive of activity with fireworks, concerts, and dancing.

The women and children dress up in their flamenco dresses and flowers in their hair and flamenco music plays as the residents and visitors sip wine and dine on tapas.  A parade is held throughout the streets bringing the Patron Saint to the people.  It is a fantastic festival, lasting until Monday, so a great weekend is on the cards for anyone in the area.

Flamenco and Fiesta!

Flamenco and Fiesta!

San Pedro de Alcantara is a beautiful location with so much to offer, beautiful beaches and beach side Chiringuitos, fabulous festivals, and a visit to Bora Bora beach club is a must!

The properties in the Marbella are equally as special,  the area of Marbella is famous for being one of the most glamorous locations in Spain. It is a fair ground for the rich and famous and great for celebrity spotting. The port of Puerto Banus is a must see for visitors as it harbors some of the world’s biggest yachts and is surrounded by magnificent scenery.

Puerto Banus

Puerto Banus

Although, if the glitz and glamour isn’t for you then there are also beautiful, typically Spanish and unspoiled parts to this area too.

So if the weather is making you feel a little low, it’s maybe time for a trip to Spain for a fiesta or two….. there is nothing better to remove those winter blues! Browse at your own leisure through the latest properties in Marbella.

Joanne Lynsdale, Your Place in Spain

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Don’t panic Mr Mannering” was the cry in Dads army (the British comedy about the home guard) when the Germans were invading! Well the Spanish may well have to shout “no se preocupe mi amigo los británicos están llegando de Nuevo”  in short ” “don’t panic the Brits are coming“!!

dadsarmy

It would appear we could be at the beginning of a “panic buying” situation if these figures continue to grow at such a rate, it would be sensible to speak with a UK agent to perhaps understand what’s going on! We recently reported that on the Costa Blanca the statement that “there is a shortage of available property” may have been difficult to digest but as nothing has been built for 5 years and the demand rising….no suprise in excess of 50 new developments are in progress on the Costa Blanca.

 

The latest report by the Times last weekend highlighted that overseas property sales to UK buyers are up by a huge 84% in Spain and 65% in France. In what is a snapshot from Currencies direct it is more evidence to the fact we Brits still have a passion for Spain.

 

So are buyers now faced with the dilemma of location v price? or resale or new technology build? Interesting one, communication is required, deals are still available but a lot of what was built in the boom period is in shall we say less than desirable locations.

 

Your Place in Spain the Spanish property specialists have a passion for all things Spain and offer clients a service that helps maintain that passion without forgetting the key things that make a smooth purchase. Their clients receive a portfolio of available property that fits or gets as close as possible to client’s requirements, so the client is looking at property they want to see not what someone wants to show them!

 

Should the client wish to purchase ,that process is smooth using local expertise with no surprises for the buyer.

 

With available Spanish properties on the Costa Blanca, Murcia, Costa Almeria and Marbella it is reasonable to accept they will have a dream home for everyone! Talk to them today on 0161 870 2276 or visit www.yourplaceinspain.com

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