Alicanteos

FirstRung.com gives a list of 10 tips for property investors in the actual slow market.

1) Research the curve - the concept of a property market cycle existing is not myth it’s a fact and is generally accepted to be based on a price-income relationship. Check the recent historical price data for properties in the area of the country you’re considering purchasing in and try to determine the overall feel in the market for prices currently.

Prices slowly decline in certain area of Spain however prices are still increasing in the country (10% this year , 15 % in 2005)
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Buying a property off-plan (off-plan property is a property that has not yet been fully constructed) can present certain risks.
First you cannot check what is offered to you until some substantial construction have been made, secondly the developer can vanish in the air even before the date of the construction. There are a few guarantees that you should always check out when you buy off-plan.

An off-plan reservation contract starts with the deposit of a sum of money then the buyer and developer can sign agreements, the contract presented to the buyer should always be negotiable, if the developer refuses to negotiate the buyer has the right to receive a full refund of his deposit.

The buyer has the following rights:

To know the identification information of the developer and the architect

Detailed description of the property and its surface.

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I read in various place that the Spanish construction and properties market is slowing down, I even heard the story of a seller in Malaga so desperate to the point to give large discount on the selling price of his property. (more…)

Lubasa inmobiliera has housing unit to offer in Denia, in place called Residencial Dénia Nature, the units are 2 – 3 bedrooms, I haven’t more information, check out http://www.lubasainmobiliaria.com/en/promociones/costa/denia.htm (page in english)

Residencial Nova Azahara in ALICANTE/ ORIHUELA COSTA.
Some new housing units avaible there with 2 – 3 bedrooms , 70 square meters , this is supefiece doesn’t include the space for the solarium, terrace and garden. Kitchen and bathroom are furnished, security door, alarms , air conditioning are installed. Starting price at 144,000 euros ,check out for more info http://www.torreurbe.com/promocion_detalles.php?IDpromocion=2&estado= (page in English)

Second hand house located in Javea (on the Urbanisation of La Mezquida in the Montañar), 3 bedrooms, 95 square meters, equipped bathroom, Communal garden or green zone and community swimpool, price : €420.000,00 euros
More info at: http://www.atrea.com/ATREA/public/UCAFichaOfertaBasica.jsp?codOferta=471266&marca_blanca=A3&pgFrom=1001

Technorati Tags: housing, units, denia, javea, alicante, bedroom, furnished, swimpool

Smoke detector are kind of alarm that detect airborne smoke, they do are useful but they have some limitations important to know.

Using inadequate battery is one of the problem often encountered, another problem is when the battery run out and you don’t know about it, the solution is to revise often the smoke detector battery, the model on lithium battery can last up to 10 years.

Another aspect to consider is when the alarm isn’t powerful enough to be heard in the entire house or outside the house. There are also case when the alarm doesn’t start it usually happen after strong explosion such those caused by gas.

Sometimes, it is possible that the fire doesn’t produce enough smoke to be detected for that reason it is recommend to install a greater numbers of smoke detectors to ensure a faster alert.

Two of the most reliable type of smoke detectors are the ionization type and photoelectric type, it is recommend to replace them every 10 years. (more…)

Newspaper Elpais gives a few tips to reduces your 2006 tax bill.

Property to let/rent

• If the property is rent as a home to live (as opposed to an office) there is only 50 % to pay.
• If the property is let to young people between 18 and 35 years old, there is nothing to pay.
• If you want to make improvement into your property for the purpose of renting do it or end it before the end of this year so you will be able to deduce the expense of your work. If the cost of your improvement is higher than your gain from the rent, it will be possible to differ part of the revenue on the coming year thus reduce the next year tax bill.

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Residents in Spain are liable for Spanish Inheritance Tax (IHT - El impuesto sobre sucesiones y donaciones) regardeless in which the inheritance is located, you are considered a resident if you spend more than 183 days on Spanish territory during the calendar year; the main centre or base of your activities or economic interests is in Spain, directly or indirectly. (more…)

According to Spanish Property Insight, the capital gains tax for non-residents was reduced from 35 % to 18 % (and increased for residents from 15% to 18%), the legislation was approved in October by the Spanish senate. The new regulation will start in January 2007.

Withholding provision for non-resident was also reduced from 5% to 3%.

Residents and non-residents have to pay a capital gains tax when they sell their properties. According to Marbella Lawyers : A non resident will pay 35% on the net gain after selling, as opposed to a resident, which will pay 20% on the net gain. Also, a non resident will have a 5% of the sale price withheld by the buyer on account of the capital gains tax. This obligation on the buyer was implemented to avoid tax loss from non residents which would sell and not pay tax. After the tax liability is assessed, a refund may be available, as the case may be. (more…)

Technorati Tags: capital gains tax

New properties are available in Torrevieja offered by Grupo Mahersol , an housing development firm. One is located at front the Laguna de Torrevieja part of a private urbanización of 24 properties. Bungalow 2 rooms and 1 bathroom, garden and shared swimpool. Price around €139,000 euro.
El Cortijo Real , little urbanización of 14 properties, properties of 2 and 3 bedrooms (1 bathroom), shared swimpool, solarium, garage in option, properties near the beach (no price info on this one)
Parque Avenidas III, little urbanización of 14 properties, 2 rooms, 1 bathroom, 1 toilet, solarium, shared swimpool , alarm, air conditioning system, furnitures. Price : 2 bedrooms for €125,000 and 3 bedrooms for €180,000.
You can get all the information about those properties on the Grupo Mahersol website, since this is a large firm, they might not force you to go black money. Once on the website click ‘english’ if you don’t speak any Spanish.

Grupo Mahersol contact in Torrevieja:

· Paseo Vistalegre, 3 - bajo
Tel. 96 571 74 47
· Paseo Vistalegre, 7 - 1º A
Tel. 96 571 99 99
· Caballero de Rodas, 82
Tel. 96 570 77 36
· Caballero de Rodas, 3
Tel. 96 670 89 66

Technorati Tags: Torrevieja, properties, Bungalow, urbanización