Wednesday 29 April 2009

Reduced by One Million Euros

This is without doubt a unique opportunity to own one of most prestigious properties in this area of the Costa Blanca, and is available now at a drastically reduced price of 1.95 million Euros.

Villa Arabesque is an imposing property with breathtaking views of the surrounding valleys nestling in the foothills of the Montgó Natural Park and a short drive to Jávea. Centrally located between the cities of Valencia and Alicante, Jávea is the perfect place to enjoy every aspect of the Spanish lifestyle; from the vibrant old town of Jávea to the thriving new port and harbour of nearby Dénia.

See our photo gallery here or contact us at info@ultimatehomes-spain.com for more information.

Posted by Picasa

Thursday 16 April 2009

Spanish Real Estate Market Will Come Back To Life This Year

Not many real estate markets in the world have been hit harder than Spain's, but according to one economics professor the pain will come to an end soon. The professor lists five reasons why he believes the Spanish real estate market will recover this year in the following article from Property Wire.

The Spanish property market will come back to life this year, according to one real estate expert who is sceptical of official figures.Gonzalo Bernardos, a professor of economics at the University of Barcelona, believes that there will be more property sales in 2009 than there were in 2008.

He list five reasons why this is likely; lower interest rates, property prices at 2003 levels, banks lending more, the return of property investors, and many people who were thinking of renting deciding to buy instead. He believes that demand for property is tempered by the cost of mortgage borrowing. With interest rates declining, Bernardos expects sales to pick up. "There is a fundamental variable. People buy homes in response to mortgage costs, which have gone from rates of 6.25 percent in September to 3.25 percent today. We are talking, in general terms, of a fall in mortgage repayments of 40 percent," he explained.

He said the recovery is already underway and another positive sign was an increase in the number of new property starts which rose in the last quarter of 2008 and were up 7 percent compared to the previous quarter.

The professor is sceptical of official property figures released by the Spanish state and believes that sales are between 25 percent and 40 percent higher than this time last year. Official figures claim that property prices fell by 28.8 percent in 2008 but he believes 20 percent is a more realistic figure.But he warns that a sudden rise in property prices is not going to happen. "Sales will start to rise in 2009, whilst prices will stop falling in most places by the end of 2010," he said.

This article has been reposted from Property Wire. View the original article here

Thursday 2 April 2009

Gemelos 28

It seems that the Spanish Government will allow the construction of Gemelos 28 in Benidorm after all. News reaches us today that there has been a rethink over the two emblematic tower blocks under construction and very close to the beach in Benidorm.

The stunning development of two tower blocks measuring 22 floors and containing 168 flats are being built by the developer Ballester Inmobiliaria on Punta Llisera, at the very northern end of Benidorm’s Playa Levante. Building work has been stopped for some time now due to the issue of a compulsory purchase order back in 2007, but not before the structure of all 22 floors had been built.

The Ministry of the Environment says that it will not proceed with the expropriation of the property, citing the “general interest” as the reason for the decision.

Wednesday 1 April 2009

Drowning in Enquiries

With all the doom and gloom around, we have been pleasantly surprised to see a huge uptick in internet hits and property enquiries over the last few weeks. It would seem too that we are not alone as reported by Kyero a few days ago. Many of the portals that we advertise on are recording record numbers of visitors and enquiries, and most importantly for us, Spain is still one of the top destinations on the wish-lists. Enquiries are coming from everywhere too, with the Dutch market especially strong. Recent bank campaigns from CAM and Santander (see earlier blog about their 100% mortgage) have probably heightened awareness that we could be closer than many think to a bottom in the local property market.

Long may it continue.

Tinsa €/m2