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The well-regarded Spanish property website www.kyero.com reported its largest ever number of visitors to the site on February 4th 2009.
Bucking the current gloomy economic outlook, it seems that more of us are looking to purchase a property in Spain in the near future than we had realised, perhaps due to the paltry levels of interest now available to savers, or perhaps to simply add a little sunshine to our lives once we emerge from this crisis.
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As a prospective purchaser of Spanish property, it´s very easy to sit back and watch as the property market tumbles into freefall, waiting in the wings for the right time to pick over the debris for the very best Spanish property bargains.
Or so you would think.
We have been saying for many months that latent demand for Spanish property is still very much in evidence. In fact, our statistics show that enquiries for property in Spain have remained fairly constant over the last 18 months. Whilst this demand has always been there, a smaller proportion of these enquiries has been converted into a sale. During the onset of a recession and with exchange rates deterring Spain´s primary buying market (the Brits) from investing, this is hardly surprising. Continue reading »
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I know I´ve been on my soapbox before about this, but some (no, in fact I would say THE MAJORITY of) Spanish property owners need to face some home truths.
Their properties are not worth what they think they are, and some of them look a mess. There you are, I´ve said it.
As someone who is in the business of selling property in Spain, I am amazed at how many properties I see that simply don´t tick the boxes. How can I be expected to sell a property to a client if I cannot get remotely excited about it myself? Continue reading »
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What is the Daily Mail´s problem? The UK newspaper featured an article in its Saturday edition revealing that former TV presenter Robert Kilroy-Silk is renting out his villa in Spain for £12,750 per week.
So what?
With the headline ´Kilroy makes a Killing´, the tone of the entire article was set within the first few lines, with comments such as “Kilroy-Silk….is charging the astronomical weekly fee…..”
Let´s get things in perspective here – this Spanish villa has 11 bedrooms, is set within 150 acres of stunning Andalucian countryside, boasts 2 outdoor swimming pools, its own staff, antique furniture, and even has its own herd of goats! Continue reading »
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Why Using more than 1 Spanish Property agent can be bad for your health!
You may think that the best way of securing the perfect property in Spain is to work with as many agents as possible. In my opinion, this can often cause more trouble and stress than you ever imagined.
Most prospective buyers believe that each agent in Spain will only have access to their very own exclusive property listings (not necessarily true), and that the best way of maximizing their opportunities would be to visit as many agents as possible during their trip to Spain. Continue reading »
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I’ve been thinking of how I could make 2009 a better year for me and my family in Spain and was curious about what others were thinking of doing.
I carried out a little bit of research and came up with a list of resolutions, here they are in order of popularity!
TOP 10 NEW YEAR’S RESOLUTIONS FOR 2009
1. Get out of debt or save more money (not really surprising that this is number one in the midst of the current Credit Crunch) Continue reading »
While it may not be an ideal time to be buying property in Spain with hard-earned British pounds, the same cannot be said if you are looking to spend your euros back in the UK.
Sterling´s fall from grace has been well documented, with today´s exchange rate hovering at around 1.12 euros. This means that if you are looking to buy a property in Spain at 200,000 euros, it will effectively cost you £178,571
But for those who earn their wages in euros, it´s a great time to be heading to the UK.
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Sterling has weakened alarmingly over the last 12 months. From its near-peak of 1.45 euros in summer 2007, the rate is now nearer to 1.18 euros. This effectively means that property in Spain is now almost 20% more expensive that it was just a year ago.
The problems with sterling have undoubtedly contributed to the worsening Spanish property market, particularly when you consider that British buyers make up by far the largest single group of overseas buyers. There are simply fewer British buyers now in the market for Spanish property, reluctant to secure an asset that would have been 20% cheaper a year ago.
The current situation is proving frustrating for a lot of prospective purchasers, all keen to bag a bargain property in Spain as the prices have tumbled, yet still reluctant to buy a euro asset with their weak sterling.
Continue reading »
