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I was involved in a bizarre situation last week. A client of mine, let´s call her Mrs. Smith, responded to a property advertisement on the internet for a 3 bed property for sale in Marbella, priced at €195,000. Another Costa del Sol property agent had advised me that he was dealing directly (and exclusively) with a local bank that had repossessed the property and that he had been asked by the bank to find a buyer within an agreed timescale of 3 weeks, of which there were 7 days remaining when my client took a look at the property. Continue reading »
100% spanish mortgages cheap property costa blanca costa blanca distressed property distressed property for sale in spain Most of the well-known Spanish banks have been massively exposed to the collapse of the Spanish property market, and many have been left with a huge inventory of empty stock, made up of repossessed homes on the Spanish costas or entire projects that the banks have taken on from developers in distress. Now, most of the banks in Spain have real estate divisions, with high street shops and websites advertising the properties for sale.
3 bed properties in spain 3 beds in costa blanca 3 beds in costa del sol distressed properties in costa blanca distressed sales costa del sol During the Spanish property boom that took place during the earlier years of this decade, buyers became so caught up in the purchasing frenzy that the type of stock that they actually acquired really didn´t make too much of a difference to them. The most important thing in the (then) rising Spanish property market was to get a foot on the ladder, and with the glut of new-build 2 bedroom Spanish apartments that were built, most speculative investors ended up with this type of stock.
bargain properties in cabo roig distressed properties costa blanca property finders spain spanish properties for sale I believe that the best way to go about searching for Spanish properties in the current market is as follows:
1. research the areas so that you have a specific location in mind, eg Marbella
2. browse the internet and speak to agents with properties advertised in your chosen area.
3. ask the agents how they work – do they have their own stock of properties and do they have access to any more?
4. ask them if they collaborate with other agents, and ask them if they work purely as ´property finders´ .
With the sheer volume of properties in Spain for sale, many prospective buyers are turning to Property Finders for guidance. Here is why: Continue reading »
bargain apartments in spain distressed properties in spain properties for sale in spain propery finders spain There are certainly lots of properties for sale in Spain, and certainly lots of people wanting to buy. Sitting in the middle are lots of estate agents offering their help.
So who should you turn to for assistance? Continue reading »
apartments for sale marbella distressed properties marbella golden mile properties marbella marbella property for sale Everyone knows that there is currently an over-supply of Spanish property along the Costas, leading to webpage after webpage of so-called bargains and distressed sales in places such as the Costa del Sol and the Costa Blanca, undoubtedly the most popular areas for most property-seekers.
One of the jewels in the Costa del Sol property market is of course Marbella, home to the rich and famous, the glamorous yacht-harbour of Puerto Banus, the Saudi Royal Palace on the Golden Mile, and the atmospheric Old Town in Marbella itself. Continue reading »
illegal properties marbella lawyers in marbella pgou urban plan marbella town hall marbella town hall plan marbella After many years of waiting the new Marbella PGOU Urban Plan was finally approved on Friday, 29th January 2010 by COTUA, the Andalucía Territorial Planning Commission.
Even though exceptions have had to be made in order to pass the new PGOU, the fact remains that there will never be a better time to buy land in and around Marbella or have the most choice of available plots of land that have now become legal under the new PGOU Urban Plan. With building regulations and order being brought back to Marbella, prospective buyers can now finally buy with confidence and knowledge. Continue reading »
bargain spanish properties buying spanish property in sterling euro sterling exchange rate properties in spain for sale The general feeling is that most British buyers are waiting for sterling to recover to particular ´trigger´ rates such as 1.15 and in particular 1.20
In fact, the last 2 weeks has seen a surge of UK enquiries for property in Spain after sterling rallied over 5% to hit the first of these magical triggers.
But let´s look at this situation from the other side. As we previously mentioned, most of the Spanish properties for sale in the key hotspots of the Costa del Sol and Costa Blanca are owned by British vendors, and during the demise of sterling in the last 12 months, they have been able to lower their asking prices considerably, and in some cases accept incredibly low offers, precisely because of sterling´s dire straits. Continue reading »
buy spanish property in sterling distressed property costa del sol euro exchange rate euro sterling conversion spanish property If you are thinking of buying a property in Spain in the near future it´s certainly becoming an interesting market. The part that the fluctuating euro/sterling exchange rate is playing cannot be overlooked, the primary reasons being these:
- the majority of Spanish property enquiries received by most of the popular portals and websites originate from prospective buyers based in the UK (and therefore likely to be buying in sterling).
- The majority of vendors seeking to sell their properties in Spain are British, and most will therefore be seeking to repatriate the proceeds of their sales back into sterling. Continue reading »
bargain properties in spain buying property in spain distressed property for sale in spain properties for sale in spain A variety of well-regarded Spanish property portals and websites are reporting unprecedented levels of enquiries for properties for sale in Spain.
Although these are still hard times for most people in Europe, it seems that the dream of owning a property in Spain is still as strong as ever. This desire has also been fuelled by a raft of discounted and distressed Spanish properties becoming available, offering prospective buyers some of the cheapest prices and best value Spanish properties since the bygone days before the last Spanish property boom.
