Thursday 30 June 2016

Ultimate Homes Featured Properties - The Brexit Issue

We certainly do live in interesting times.

Last Thursday evening I went to bed at just after midnight and had read that Nigel Farage of UKIP had conceded defeat to the British "remain in the EU" voters. You know the rest, I woke up early on Friday morning to find that both Britain and Europe are to become divided and more fragmented than many of us can remember.

I will leave the politics to one side as there are many out there who are in a better position than me to comment further on that. The fact is though that following the referendum vote, nothing is going to change overnight (apart from the GBP/EUR exchange rate). The process of leaving the EU is likely to take at the very least two years. However, the weakened pound means that Spanish property has now become 10% more expensive for British buyers. At the time of writing 1 British Pound will purchase 1.208,50 Euros, compared to one week ago when it was equivalent to 1.32 Euros. The exchange rate will be volatile now for the next few months whilst there is uncertainty, so we strongly recommend HiFX who are experts to ensure buyers and sellers (who can lock in these attractive rates) get the best deal. It is also worth looking at this in the wider context - Spanish house prices have been steadily recovering over the past 12 to 18 months but prices are still 30 to 50% cheaper than their peak in 2007.

In short, Spanish property still remains excellent value. And that is why many smart buyers from other parts of Europe, and indeed countries outside the EU are still snapping up property here in Spain. The sun is still shining, the sky is blue (330 days a year or so), the beaches are great, communications are second to none, the history, culture and great food, and most importantly an inviting and tolerant host, the Spanish. So having and enjoying a holiday home in Spain (or even making the move to Spain) is still very much a realistic dream for many people.

Enough words for now - of course our office door and telephone lines / emails are always open to hear your comments. So here is a selection of some of our favourite properties currently on offer. 


Albir



 Albir
3 Bedroom 3 Bathroom Semi-Detached Villa 
Constructed Size 283.76 sq. meters - Plot Size 195.55 sq. meters

Located close to the Sha Hotel and Wellness Centre, this property is located in a small residential development of four semi-detached houses, sharing a communal driveway, but each property is independent, with private gardens and a swimming pool. Private spacious garage, various terraces and a solarium too. This is a bank owned property in need of minor reform. 

View this property on the Ultimate Homes website for more information
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Sierra Cortina, Finestrat



2 Bedrooms 1 Bathroom Townhouse
Constructed Size 82.33 sq. meters - Plot size 56.82 sq. meter

Recently reduced to 135,000 Euros, we are delighted to offer for sale this fully furnished property in excellent condition, located in Golf Bahia, Sierra Cortina close to Benidorm. Fully equipped American open kitchen, spacious private terrace which leads from the lounge, and two bedrooms, one of which has a small covered terrace. The communal facilities include two swimming pools, gardens and a tennis court. Located very close to the La Marina shopping centre and five minutes to the beach and the various golf courses in the area.

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Benidorm



2 Bedrooms 1 Bathroom Penthouse Apartment
Constructed Size 106 sq. meters

A real opportunity to acquire a front line penthouse apartment in the Rincon area of Benidorm (as you head towards the cross) at a fantastic price - 160.000 Euros. The apartment is in good condition, has a terrace with views and a roof top solarium measuring 50+ sq. meters with the most fantastic 360º views. The development is called Villa Marina and includes a communal pool and private parking space.

_________________________________________________________________________________Mutxamel, Alicante



3 Bedrooms 2 Bathroom Penthouse Apartment
Constructed Size 75.26 sq. meters

A very well priced three bedroom two bathroom apartment with terrace and solarium, located within a closed residential development with communal swimming pool, gardens and tennis courts, 10 minutes from the coast and 15 minutes from Alicante. 

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Javea



3 Bedroom 2 Bathroom Villa 
Construction size: 390 sq. meters - Plot 2,300 sq. meters

This bank owned villa is located in Javea, in the sought after area known as Cap Marti. Distributed over two floors with internal access and on a flat plot with private swimming pool, the property is offered for sale in relatively good condition. 

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Altea



2 Bedrooms 2 Bathrooms Front Line Apartment
Constructed Size 125 sq. meters

Spacious raised ground floor apartment within the exclusive "Oasis Beach" residential development close to the Mascarat harbour, large terrace and stunning views.

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Moraira




1 Bedroom Apartments from 109,945 Euros
2 Bedroom Apartments from 121,000 Euros

The last remaining apartments for sale in the Jardines de Montemar development located close to the Moraira to Calpe coastal road. Well-designed good quality apartments with excellent communal facilities, including two swimming pools and an indoor pool and spa area for the winter months.

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If you or anyone you know would like to receive more information on any of these properties, contact us now by email or telephone +34 966 112 773

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Wednesday 1 June 2016

How can you prepare yourself for Brexit?

We work closely with the currency exchange firm HIFX and have therefore reproduced this blog to help some of those who are still unclear how Brexit could affect you.
"There’s now just over a month until Britain goes to the polls for the EU Referendum, and it’s still unclear what the outcome will be. With the latest result from the Financial Times Poll of Polls currently showing 46% stay, 44% leave and 10% undecided (as of 17th May 2016), it seems to be too close for anyone to call.
This uncertainty appears to have been a significant factor in causing the Pound’s value to fall by around 9%since November 2015. It seems reasonable to assume that we will not see a recovery for as long as the uncertainty remains, although the longer term picture is harder to predict.
But as we’ve discussed throughout our Brexit coverage, there are still options to help you prepare yourself during this period of volatility, whatever happens on 23rd June. While there’s not long to go, we know this is still a major consideration for many of our customers when planning their international money transfers in the coming weeks.
With this in mind, we’ve put together some potential scenarios to help you consider what the best strategy is for you. These are based on examples from recent customers so we hope they’ll be a useful guide for you, but please remember that there are a range of factors that determine the rate you will get, including the current interbank rate, the amount you are sending, the currency you are buying and your payment method.*
Case 1: Expat Eric
Expat Eric
Eric is a UK expat who retired to Spain a few years ago. He expects that Britain is going to vote to stay and he thinks the exchange rates will probably improve after the referendum.
But Eric knows that he doesn’t have a lot of flexibility in his budget and his pension might not go as far as he’d like if there is a significant change in exchange rates. So Eric decided he didn’t want to take the risk. Instead, he set up a Regular Payment Abroad, which means he’s locked in his pension amount of £1,200 per month at a rate of 1.25*, with no additional fees for these payments.
Eric can now sleep soundly at night (and during his afternoon siesta), because he knows exactly what his monthly budget will be. He won’t have to worry about the short term fluctuations in the exchange rate that tend to come during periods of political and economic uncertainty.
Case 2: Risky Richard
Risky RichardRichard has a comfortable life in his villa in the French Riviera. He generally sends himself about £10,000 per year split over a couple of payments, just to keep his account topped up. But he doesn’t have a set deadline for when he needs to send his next payment and he has enough in his French account to last until the end of the year if necessary.
Richard could afford to just sit and wait to see what happens next. But he’s a betting man and he wants to see if he can benefit from the current situation. He’s been following the markets closely and he thinks there’s an opportunity to secure a rate at the top of the range.
He’s decided to place a market order for £10,000 if we are able to offer him a rate of 1.30*. He’s not in any rush, so now he can just sit back and see if the order pays off for him.
Case 3: Small Business Sarah
Small Business Sarah
Sarah has set up a small business importing fabrics from Germany. She has a number of invoices coming in from different suppliers, usually in the region of €1-2,000. There’s no set pattern for when these invoices arrive and her suppliers generally expect her to send payment within a few days. As a fairly new business, she knows the importance of maintaining these relationships for the sake of her reputation.
Sarah spends a lot of time reading online to understand her options. She had been trying to time the payments to catch a favourable rate, but she’s finding this increasingly time-consuming and difficult to manage.
She recently decided to re-evaluate her situation and do some calculations. She realised that on her latest payment of €1,200, even a 5 cent move from 1.25 to 1.30* would only save her €37. She has now concluded that, in the short term, rates are unlikely to change much in her favour. She’d rather just pay the bills as they come in and relax knowing that the payment will arrive on time.
What about you?
We hope this has helped you to think about the potential factors that might influence your decisions and what options are available to you. If you’d like to discuss your situation in more detail, please feel free to give us a call on 01753 859 159.
We’ll continue to share updates here to help you consider your options both before and after the referendum. Or you can read all our Brexit resources so far here.

*All rates are provided for indicative purposes only, using examples from recent anonymised customers. Rates will vary depending on a range of factors, including the current interbank rate, the amount you are sending, the currency you are buying and your payment method. For a quote, please contact us.
The original article can be viewed here: How can you prepare yourself for Brexit?


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