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It´s been a while since I´ve been on holiday. A few city breaks aside, it´s actually trickier than you may think to find a suitable destination when you live year-round in Southern Spain, with beaches, sun and sangria on tap!
I took a business trip to the Southern Costa Blanca last week, as I needed to review our inventory of properties for sale on the Costa Blanca, in areas such as La Zenia, Playa Flamenca, Cabo Roig and Villamartin, all traditionally popular with British expats, holidaymakers and prospective 2nd home owners.
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I suppose everyone watched the hour-long programme dedicated to the woes of the Spanish property market, broadcast last night on ITV.
“Paradise Lost” took a long look at several buyers who had all encountered terrible hardship after buying their dream home in Spain. Let´s look at the cases that were featured:
- a middle aged gentleman who had bought an overpriced 2 bed apartment in an undeveloped area of the Costa del Sol during the height of the property boom. He had paid €250,000 euros, and he couldn´t sell the thing at €180,000 at auction.
- A British couple who had bought a villa in Marbella and had been forced to move out as they were unable to afford the mortgage repayments.
- 2 buyers who purchased on a decidedly dodgy development on the Costa Blanca Continue reading »
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With the value of sterling finally beginning to rise against the single European currency, we are likely to see a shift in the type of deals that we have become accustomed to here in Spain.
During the last 6 months, with sterling in freefall and the Spanish property market in dire straits, it has seemed that most property transactions in the Brit-dominated areas such as the Costa Blanca and the Costa del Sol have consisted of a British vendor who is happy to trade with a strong euro, and a buyer from the eurozone, keen to snap up a Spanish property bargain and take advantage of the thousands of Brits making the exodus back to the UK.
Continue reading »
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I ventured to Lords last week. I had always wanted to visit the ´Home of Cricket´ in St John´s Wood, North London and so when I received 2 tickets to watch the 1st Test between England and the West Indies I was thrilled.
Only problem – I had invited my good Spanish friend Dani from the Costa Blanca along for the spectacle. I should really have known better when he admitted to not knowing the rules, but wanting to take a look ´out of curiosity´ as he had heard so much about the sport. Predictably, I had the following questions to contend with:
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Yes, more Spanish property bargains to tell you about – this time it´s a discounted development on the Southern Costa Blanca, located in the area of Quesada – 2 bed townhouses, reduced by over €100,000 to a new price of €118,000
These properties were built by Taylor Woodrow to a top specification, within walking distance to shops, bars and restaurants, and within a 5 minute drive of fabulous sandy beaches and golf courses.
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There really are some great Spanish property bargains available at the moment, particularly if you are looking to purchase in euros from a UK based vendor.
British sellers who are looking to repatriate their funds can now afford to discount their Spanish properties by even more than before, with sterling sinking to around 1.12 euros.
Let´s take this example. In the good old days when £1 was worth around 1.45 euros, a sales price of 200,000 euros would allow a UK based vendor to take their proceeds back to Britain at an equivalent value of £137,931. Continue reading »
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Those buyers looking for a beachside bargain property in Southern Spain may be in luck this week.
The developers of the elegant Senorio de Punta Prima, a range of apartments and penthouses on the beachside between Alicante and the Mar Menor, have announced big price reductions on remaining key-ready 2 bed units.
This project is located in Punta Prima, and is close to several nearby coastal resorts such as La Zenia, Playa Flamenca and Cabo Roig. There are several golf courses within a 10 minute drive, while 2 international airports are also within easy reach. Continue reading »
