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: Good property finders will have access to several thousand properties via their network of agents and the various multi-listing databases at their disposal. They will also have an intimate knowledge of your chosen location, and will be able to suggest plenty of options to help you. Property finders work by talking to you at length to ascertain your buying criteria, and they will then approach other agents via their network to get hold of the most suitable stock – imagine Phil and Kirsty on Location Location Location! This means that instead of only having a few hundred of the agent´s own properties to choose from, buyers can literally access the entire portfolio of available property in their chosen location. The other huge benefit is that buyers only need one point of contact to co-ordinate viewings, so rather than having to liasie with several different agents, you can work ´with´ the property finder very closely to fine-tune the search and secure the best property. Also, property finders have no allegiance to the vendors, so they are sure to try and secure the best possible deals for the buyer. Also, they are not tied by the handcuffs of representing both parties and so can give you their honest opinion of the Spanish properties that you are inspecting. And if you think this property finding service attracts an up-front cost, you are wrong. Property finders simply take a cut of the commission that the listing agent earns from the vendor. Related Posts Advice to Buyers – Who Can You Trust in the Spanish Property Market? - PART 1 The Weak Pound – Tips for UK Buyers of Spanish Property – Part 2 Mortgages in Spain
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Advice to Buyers – Who Can You Trust in the Spanish Property Market? - PART 2
The recent rise in the value of sterling against the euro has led to as much as a 40% increase in the number of Brits buying the European single currency. With the sterling euro exchange rate hovering at around 1.15 in recent days, many Brits who regarded this figure as a psychological trigger to exchange currencies have taken advantage of the 12% increase in sterling´s value within the last 12 months. One expert at Moneycorp , one of the leading foreign exchange specialists, whilst also reporting brisk activity, reckons that a large proportion of Brits are holding out for sterling to hit a level of 1.20 before committing to the single currency. It is thought that a change of government in the UK, added to an end to the current recession , could see that figure reached before the end of 2010, prompting thousands of potential British buyers to enter the Spanish property market. Related Posts Sterling on the Rise - Great News for British Buyers in Spain Sterling Exchange Rate Forces Spanish Property Buyers to Wait The Sterling Euro Exchange Rate – Does Anyone Really Understand?
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Sterling Rise Sees Brits Buying in Spain
If we assume that the legal matters are sorted in the next few months and the Marbella property owners can move on with their lives, this doesn´t compensate them for the months of misery and uncertainty that they have endured, particularly those who are desperate to sell their properties in Marbella as a result of the recent financial hardships. You see, if there is a hint of a problem as to the legality or status of a property in Marbella , the banks and mortgage lenders will avoid it like the plague – a handy excuse in the current credit crunch. So this means that the only option for sellers of properties caught in this legal minefield is to appeal to cash buyers who are prepared to take a risk……….however calculated that may be. This severely restricts the pool of available buyers, and drives the asking price lower still. One such area of Marbella that has been particulary affected is Elviria, 12 kilometres to the east of the town. Property in Elviria is in high demand – it offers some of Marbella´s most desirable permanent and holiday housing, boasts the coastline´s finest sandy beaches, and is home to a variety of sports and leisure amenities. Elviria was built upon the recent property boom, but that only means that most of its ´highly desirable´ projects are now subject to ratification in the new Town Hall plan, and so buyers are still unsure of which way to proceed. This is a crazy situation for everyone concerned. Forced sellers cannot sell, buyers who are desperate to invest in the area are reluctant to do so, lawyers have no real idea of what is going on, and estate agents with some of the best inventory in Marbella are sitting at their desks twiddling their thumbs. As the news filters through of an imminent announcement of the approval of all these ´dodgy´ developments, many buyers are now prepared to take a risk and take advantage of the misery of many sellers, hoping to bag a genuine bargain in a great location, hoping to see a quick return when the properties are finally ratified and the values rise accordingly. And you thought that buying property in Marbella was easy! Related Posts Marbella Property – Do Illegal Homes Represent the Best Buys? An Agent Buys a Property in Spain - Part 7 - Another House! An Agent Buys a Property in Spain – Part 1 – How Hard Can it Be?!
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Marbella Property – Do Illegal Homes Represent the Best Buys? - PART 2
It may be true that there is a glut of property for sale in Spain at the present time. Thousands of unwanted properties litter the Spanish costas, bought up by eager investors during the boom years, fuelled by expectations of rising prices and cheap finance. So you would think that there is more than enough Spanish properties for sale to satisfy the current demand…and let´s face it, although that demand is picking up, there aren´t exactly hordes of eager buyers battering down estate agents´ doors just yet! But this is where the whole thing gets a bit messy. The problem is that everyone is after the same thing. Not quite ´everyone´ of course, but after analysing the recent enquiries from our website, there is a definite trend. Most buyers now have a set of criteria that looks something like this: - Minimum 3 bedrooms - Walking distance to the beach - Walking distance to bars and restaurants - No more than 1 hour from an airport - Must be a great deal Of course, the budget varies, but more often that not, the other criteria are fairly constant. Whereas in the boom years, investors were buying up 2 bed apartments in the middle of nowhere in their droves, just to get themselves on the Spanish property ladder, nowadays buyers are rightly taking a longer-term view, and investing primarily for lifestyle reasons. And that means family holidays, so enough space for the kids and friends, being able to stroll out for a pizza, and taking a cab from the airport for those who don´t drive. So if you are looking to buy a 3 bed property in Spain , within walking distance of amenities and the beach, expect some serious competition. Related Posts Warning to Bargain Hunters – Don´t expect to view on a Sunday! Paradise Lost – ITV Gives the Spanish Property Market Another Kicking Why use a UK-based agent to sell your Spanish Property?
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Spanish Property Buyers All Want The Same Thing!
Anyone familiar with playing golf on the Costa del Sol will probably already be familiar with La Quinta Golf & Country Club . Located just 10 minutes drive from Puerto Banus, and nestled in the hills above San Pedro, La Quinta offers golfers 3 separate nine hole courses, meaning that there are 3 combinations of 18 hole rounds. There is also a Manuel Pinero Golf Academy and pro shop on site. In recent years, La Quinta has seen the welcome addition of the on-site 5 star Westin La Quinta Hotel , with its restaurants and bars, and the fabulous new spa, which added to the tennis facilities and kids´ club, nicely completes the offering of on-site amenities. Property at La Quinta has always been one of the most stable investments on the Costa del Sol . Owned by the dairy company, Pascual, La Quinta made a stand of shying away from multiple investors in the boom years, so the market at La Quinta hasn´t fallen victim to particularly deep troughs during the current recession. Having said that, there are some genuinely great deals available for anyone looking to buy a property at La Quinta at the moment, including two recent reformed 3 bed properties at La Quinta overlooking the lush fairways, priced at just €213.000 and €223.000 – outstanding value in such a great location. Related Posts Open Terraces – a British Obsession? Polaris world - A Golfing Paradise Come To Polaris World to Live Life King-Size
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Great Offers at La Quinta Golf & Country Club
You will know from previous posts on this blog that: a) I live in Marbella b) I´ve just bought a new house in Marbella c) It´s been a record summer for high temperatures in Southern Spain So, when I ordered the air conditioning for my new home in the first week of June, I didn’t think it would be unrealistic to expect the machine to be installed before the renovation work in my home ended on the 31st July. If only life were so simple! You see, apparently I need a special wall unit from Panasonic (more about them later!). Not particularly special actually, just smaller than the average kit that they produce. I was told by my air-con man that Panasonic had been lowering their stockpiles due to the recession and that a new unit was being sourced from Barcelona – the unit would be here in my Marbella property no later than the 2nd week of July. OK, just before the August heatwave – that would just about be acceptable.Well, here I am, at the end of August, and the air-con is nowhere to be seen. Delivery was promised for last Tuesday, but apparently Panasonic ´lost´ the machine. An umbrella I could understand, a pair of sunglasses – it´s easy to imagine misplacing such a thing – but not a dirty great big lump of metal!! It will be here on 3rd September, I´ve now been assured. They found it in Italy (???) - Great, just in time for autumn. How convenient. As long as they´ve been keeping nice and cool in Sorrento…or Sicily,,,,or wherever the heck it´s been! The thing that makes me laugh (actually, make that ´cry´) is that when we were first informed of the delay, I said to my partner “You know this thing will turn up in September”, because here in Spain you just become accustomed to nothing ever going to plan in August. So i´ve basically been led a merry dance (is that a phrase?), and been lied to since June. So thanks Panasonic. Thanks for the wonderful service, the false promises, and the fact that you still have the audacity to charge me an extra 600€ for this very ´special´ machine. It had better be worth it! Related Posts Bank Holidays in Spain - Part 2 Welcome to “The Great August Shut-Down” Warmest Sea Water in 25 Years!
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The Great August ´Shut-Down´ - Aaaargh – Not Again!
When you come on holiday to Spain, please remember to be sensible about one thing – keep yourself as hydrated as possible. The chances are that you will be lying on a beach on the Costa Blanca or the Costa del Sol for most of the day in 35 degree heat, and probably downing a few sangrias along the way. It sounds idyllic, but please try to drink as much water as possible during the day, otherwise you could end up in a terrible mess. And also remember that if you are drinking shorts, the Spanish measures are liberal to say the least, so for every one measure of gin or vodka by UK standards, you will probably be served at least 3 or possibly 4. This could equate to you drinking the equivalent of 12 measures of alcohol just by consuming 3 gin and tonics in a Spanish bar. Would you be able to tolerate that at home? When you add the additional alcohol intake to the length of time spent in searing temperatures, you will see how easy it is to become completely de-hydrated. So, my one tip for this summer in Spain is to keep drinking the agua…!!! Related Posts Virus - feeling sick in Spain England - the place gets worse! Strange Reaction to Recession in Spain
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Drink Water!
One of Marbella´s leading estate agents, Panorama, has this week reported the start of a recovery in the Marbella property market. Major agents in Marbella reported a spurt of activity in April, May and June, with properties selling in all price categories. Of course, although confidence may be returning to the market after buyers were ´frozen with fear´ earlier in the year, most are still after a bargain property in Marbella . There are certainly great Spanish property deals to be had, but Panorama were quick to warn that even motivated buyers are sometimes ending up with nothing if they follow the advice of certain wayward media commentators who have been advising to make offers of 50% on already heavily discounted properties in Marbella . Related Posts Where to Buy on the Costa del Sol Should you sell your Property in Spain? Don´t Forget Spanish Property Purchase Costs!
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Has The Marbella Property Market Begun to Recover?
There have been a lot of online articles and comments following the broadcast of the much-awaited 2nd part of Paradise Lost last Wednesday, the ITV documentary detailing the traumas of everyday Brits who have had a nightmare in Spain. I have to admit that I was a bit confused at the end of the programme. Most of the airtime was devoted to a group of very content expat Brits in the La Marina region of the Costa Blanca – not everyone´s cup of tea, but a lot of people´s idea of paradise. Then there was the Queen of Marbella Real Estate, Kristina Szekely, getting herself all excited about what people get up to in jacuzzis, whilst showing us around several OTT luxury villas in Marbella . And finally, the tale of a Huddersfield hairdresser who was determined to make a success of his newly opened salon in Marbella by charging people top dollar. All very aspirational….and frankly no harm at all to the Spanish real estate market , especially in the Marbella and Puerto Banus areas. The only negative during the oddly titled programme was the horrific tale of a group of Brits who were in danger of having their properties in Almeria bulldozed. Whilst this is indeed the most extreme example of ´when things go wrong´ I was told by a lawyer on the Costa del Sol yesterday that the dispute had now been resolved and that the Junta de Andalucia had been forced to back down from their threats – funnily enough NOT something that was reported in the programme. The whole thing left me a little cold – just another example of a badly researched piece of scare-mongering nonsense. Related Posts Polaris world - A Golfing Paradise Horse Riding in Spain Paradise Lost – ITV Gives the Spanish Property Market Another Kicking
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Paradise Lost – Part 2
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. I had forgotten just how much the Brits love their beaches – my goodness, from sunrise to sunset, the beach in front of the La Zenia Hotel was full of sun worshippers, all lapping up as much of the strong Spanish sun as possible. And when it came to the nighttime, I had forgotten just how much the Brits love their beer! While a talented duo belted out familiar favourites from the likes of Celine Dion and Whitney Houston on the poolside terrace, the Brits were getting stuck into the San Miguel and the Vodka and Tonics like they were going out of fashion! Even though there was a stiff cool breeze being whipped up off the sea, the general concensus seemed to be “ We´re on our hols, so we´re staying outside”! While the behaviour was all perfectly acceptable, and although I am as British as the next person, I did feel strangely out of place. After all, I live here, I rarely take a beach holiday in Spain , and so I struggled to identify with the obvious need for these tourists to let off steam during their regular annual break. It also prompted a degree of envy – seeing these people so relaxed, enjoying themselves so wholeheartedly, it got me pining for a holiday of my own – somewhere to laze on a beach all day, with no phones ringing, no distractions, and plenty of lager on tap. Maybe I should try the Costa Blanca – it looked perfect! Related Posts Cricket for the Spanish – a Trip to Lords Costa Blanca property - The Dream Haven Holidays in Spain – will any Brits be here in 2009??
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A Trip to a Holiday Hotel on The Costa Blanca
