Alicanteos

Private residences with swimpools , sport area and green zone, in a 24,000 m2 zone.
Flats with 1, 2 or 3 bedrooms , fully equipped, the building is located near a golf school and Poniente Beach .

Price starts at 162,500 Euros
Superficies for flat starts at 60 m2 (one bedroom)
Availability in January 2008

More info at Grupo Mahersol

The numbers of holiday properties to be sold in the next 5 years is excepted to be around 650,000 claims the real estate investment company Pierre & Vacances, Spain is considered one of the most attractive European country for that type of housing.

Costa Del Sol (Andalucia) is the most demanded area high level of tourist activities, services , golfs and profit make it attractive. Investing in Andalucia is considered safer than in any other area of Spain says expert from Pierre & Vacances, there is also little probability of price drop for Andalucia.

Speculation has stopped being the heart of the Costa Del Sol properties market, speculators have moved to new emerging markets such as Bulgaria, Brazil, Morocco and Dubai. Today, the typical investor for a property in Marbella is someone looking for a stable investment such as from rent revenue.

Technorati Tags: andalucia, property, market, marbella, investment

An average of 103 days is now necessary to sell a property in Barcelona this is 21 days more than last year that’s the result of a survey from Tecnocasa group and UPF (University Pompeu Fabra).
They also find out that price during the first semester of this year only rose 5,45 % that 11 points less than last year at the same period.
The trend of more days to sell a house is common in the entire Spain between January and June the national average to sell a property irose to 112 days.

Barcelona stays at the top of most expensive cities in Spain to buy a property, with average price per square meter of 4,481 euros an increase of 233 euro (+5,24%) compared to last year at the same period.

The financing of property purchases through mortgage has reached the average of 172,147 euros an increase of 7,82% compared to last year at the same period.

Technorati Tags: barcelona, price, mortgage, property

About 19,000 properties built in Marbella with illegal licenses will be legalized under the new Urban Master Plan (P.G.O.U.) of Marbella. From 1991 to 2002, the city of Marbella was in the hand of mayor Jesus Gil, the man was first popular among the citizens he reduced street crimes and started a real estate boom. However, in the recent years, that idyllic image faded away, Juan Antonio Roca was the planning adviser of mayor Jesus Gil, the man pursed a quest to wealth giving the impression that his motto was the ‘the end justify the means’, the council handed out building licences for tens of thousands of homes which higher authorities now deem not legal. In 2002 Jesus Gil was banned over Roca the man behind the curtain was able to use the next major Marisol Yagüe (Today, she faces charges of bribery, perversion of the course of justice, and of altering the prices in municipal deals )

Juan Antonio Roca, 53, is in prison he siphoned the wealth of Marbella for him and his partners in crime.

Technorati Tags: marbella, corruption, housing, legalize, urban master plan

Simed (Salon Inmobiliario del Mediterraneo – Mediterranean Real Estate Exhibition ) is since 2004 the annual meeting of professional and people interest in the residential real estate market in the south of Europe.
The exhibition offers business opportunity for sellers and buyers the last editions generated a turn over higher than 125 millions Euro from direct home and land sales. Majors developers will be at the SiMed making special special offers, if you are interested the SiMed takes place in Malaga from October 3rd to October 7th details at http://www.simedmalaga.com/.

SiMed 2006

17000 m2 of gross exhibition space
9500 m2 of net exhibition space
120 first class exhibiting companies
25000 visits
16000 visitis by accredited professionals
Presence of 17 countries and 43 Spanish provinces
212 accredited journalists
183 different media

Technorati Tags: simed

A new Land Act came into effect on 1st July 2007 replacing the old Land System and Valuation act 6/1998. There is an interesting article about the new Land Act on Mondaq.com , the article says that the new act purpose are:

Preserve landscape and environmental character
Curb property speculation and rising house prices
Stop excessive development

This is indeed good news they are at least 6 noteworthy novelty :

1 – Rights of all citizens are specifically regulated

2 – A requirement that 30 % of new residential land be set aside publicly protected housing

3 – All planning instruments and agreements must undergo a public information procedure before being approved.

4 – Change in the zoning of land

5 – Expectations not to be applied in the valuation of land.

6 – A requirement that new developments allocate to the public stock of land a percentage ranging between 5% and 15% of the land

More details on Mondaq

Technorati Tags: spain, land, act, law

According to Enrique Llopis, Honourary President of the Alicante Real Estate Agents College, 300 estate agencies ceased trading in Alicante in the first seven months of 2007. This is quite a number. The numbers of agencies in trouble is estimated at 3000.
The most vulnerable agencies are the smaller and newer companies.

Prices are stable on resale properties but as I said in an earlier post , the time to sell a property is getting longer about 120 days. They are also less buyers at this period new mortgages over the first six months are down by 2.85%, that the first reduction in six years.

Technorati Tags: spain, property, market, mortgages

According to the Red de Expertos Inmobiliarios (REI) 30 % of real estate agency in Spain could close their business in 2007 if they don’t adapt their marketing approach, The sector has to face a reduction in the numbers of properties to sales.

The numbers of transaction decrease and the time to sell a properties increase , it averages 120 days for the moment.

September should be a key month to observe the trend , let see what happens.

Technorati Tags: properties, spain, market

There is a phenomenon that has been going on for a couple of years now in spain, it is the mobbing (illegal pressures on tenants) on people having an old rent and paying less than 100 Euro of rent, usually it goes like this , the speculation and inflation make the prices go up however some people signed a contract so long ago like that old woman paying 40 EURO /Month since 1936 her landlord mobbed the flat causing damage that she couldn’t afford to repair and also making difficult to her to stay in that place. Mobbing is a way for property owners to kick tenants out so they can find someone else that will sign a new contract to today market condition and pay much more.

In Barcelona, 201 mobbing case have been reported from January 2005 to May 2006. I’m not aware of any law for a better protection of tenants as far as I’m concerned being a property owner is the way to go.

Technorati Tags: spanish, property, mobbing

Is the U.S mortgages financial crisis caused by subprime (the practice of making loans to borrowers who do not qualify for market interest rates because of problems with their credit history or the ability to prove that they have enough income to support the monthly payment on the loan) has an effect on people in Spain ?

That crisis caused a lot of mess with companies , financial products with no investors on the markets to buy. The European Central Bank and many other central banks put cash on the markets to ease the crisis , today investors are feeling safer espcially about the banking sector.

According to expert the access the price to obtain a loan will no grow because it would cause a slow down of the Spanish economy (who want that ?)

Anyway, according to Jean-Claude Trichet the CEO of the European Central Market the markets are coming back to normal.

Technorati Tags: subprime, spain, loan, mortgages