Posts tagged with "moraira property advice"

Creating a garden in Spain

When you buy a property in Spain,
once the interior is developed to your satisfaction, you’ll want a garden that
looks as good and is appropriate for an outside lifestyle. There are many ways
to approach this and I’d just like to pass on some ideas I have come across.

Most plots here are not flat, so
it’s surely a good idea to create steps, pathways and terraces that utilise
natural slopes. Many Moraira villas have terraced gardens of various
sizes that give either shade or sunshine according to the time of day.
Comfortable cushioned chairs and a small table make an excellent seating area
for reading or relaxing with a cup of coffee. Then there are interesting
materials that can be used on these terraces to make them really attractive,
like


natural stone in an informal crazy
paving style – running this same stone through all steps and paths.


Then coloured pots can be positioned
to add interest to the terraces, perhaps planted with colourful sweet smelling
geraniums. On the other hand, if there’s a terrace where you enjoy an evening
glass of wine or two, be sure to place a plant called "Galan de Noche” nearby.
In English it’s called “Lady of the Night” and that’s because its little white
flowers release their intoxicating scent at night.


”MsoNormal">Planting shrubs at an early stage of
garden development is a good idea to quickly create shade and wind protection.
The evergreen Oliander is a good choice for this purpose. It’s hardy and
drought tolerant and will grow into a large tree-like shrub. Flowers can be
white, pink or red. One slight negative is that it’s poisonous, if the nectar
is sucked or the leaves are chewed, so even if you’re hungry, don’t do
that!  Another evergreen shrub that will
look good is Callistemon or Bottlebrush. As the name implies, the red flowers
are bristly like a brush for cleaning bottles. It will grow to a couple of
meters in height, and will look very impressive. That’s also true of sun loving
Hibiscus plants, and here it’s the range of flower colours that’s impressive


Bignonia Campsis is a favourite
since it flowers in early spring and lasts all summer. It blooms in clusters
and each tubular shaped flower on the cluster is some 8cm long in a beautiful
deep fiery orange colour. Ideally for Spain, it doesn’t want to be
over-watered, and will cover a wall, a fence or a pergola in no time at all,
giving welcome shade to the spot


Another plant that will grow and
cover speedily, is the trusty.Bougainvillea. Its flower colour range is
excellent, the most common being a gorgeous magenta – but crimson, deep maroon,
orange, pink and white are also readily available.


Another “must have” range of plants,
especially for seating areas and the entrance to the property, are those with
perfume. Here you are urged to consider jasmines, roses, lavenders, gardenias,
mock oranges, stephanotis and the fast growing frangipani vine, along with
freesias and lilies.


”MsoNormal">There are lots of centres around
that produce and sell statues in a variety of shapes and forms – from small
animals, elves (I hesitate to call then gnomes) and toadstalls to elegant toga
clad ladies holding urns or playing an instrument. We opted for this latter
category.


If your garden site is indeed
sloping, then it’s a good idea to build a few retaining walls, especially
around your terrace areas, then back-filling them with topsoil will give you
useful planting areas, with rocks forming attractive compartments for pretty
trailing evergreen plants with remarkable and colourful flowers.


Of course, flowers are an essential
ingredient of your garden, but don’t forget the architectural types of plants –
like aloes and cordylines. They can be as stunning as any bed of flowers.


We have, with some reluctance,
decided against ponds or water features in our garden. The fear of providing
breeding facilities for mosquitos outweighed our love of the sound of trickling
water around our reading
locations.

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Posted by on 12/04/2013 19:59:00

Spainish Property Update Nov 2013

Statistics released by the Central Government Public Works on property purchase during the second quarter indicate a resurgence of interest in buying property in Spain. Figures demonstrated an increase in sales in five of Spain’s 18 autonomous regions. The province of Alicante saw a total of 3,543 properties purchased making it the most popular province.

Interestingly, 54% of buyers in the province of Alicante came from abroad compared to a national average of 17% across Spain. The British are the principal buyers, mainly retirees, followed by Belgian, French and Russian purchasers. Furthermore, according to figures from the National Council of Notaries up to June 2013, 70% of the homes purchased in Spain were paid for without mortgages, whereas, prior to the economic crisis only 37% of Spanish homes were bought with no loan. One reason for this adjustment can be attributed to the lower prices of property since the economic crisis. Indeed, a study conducted by the Pompeu Fabra University revealed some areas of Spain have seen price reductions of up to 50%. These price corrections have stimulated investors to consider property as a viable option when planning their financial future. You will see that this graph clearly indicates what has been happening since the property crisis in Spain. Spanish Property Sales graph 2006-2012

There has been a change in the financial tide and as the banks lose both trust and credibility, investors are beginning to modify their attitude and behavior towards their investments. In addition, the precarious state of stocks and shares has left investors facing the challenge to find the foundation for a more resilient investment. Furthermore, the ridiculously low interest rates currently offered to savers leaves no doubt that a more constructive approach to investment is required. In short, the lost rapport, damaged trust and jaded attitude towards traditional avenues of saving and investing has resulted in a revolution as individuals search for a healthier return on their money.

The emerging savvy investor is recognising the value of a tangible investment. For example, in Moraira and Javea you can purchase a stunning 5-6 bedroom villa in a prime rental location for around 483,000 to 647,000 euros including the 12.5% purchase cost. The historical income of a property of this nature is around 40,000-50,000 euros gross, per annum. Or perhaps you could consider a property with four bedrooms offering an income of 25,000-30,000 euros annually for a purchase price of circa 400,000 euros.

The highly desirable areas of Moraira and Javea offer unspoilt resorts with beautiful coastline backed by spectacular mountain ranges. The wealth of charm and tradition is maintained by strict conservation rules ensuring the area remains unblemished. Attracted by the sun-soaked, fun-filled promises of the Northern Costa Blanca area visitors are also treated to surprisingly stunning countryside with dramatic landscapes, green vineyards, almond groves and orange orchards. A short drive from the coastal towns leads you to between craggy mountains dotted with traditional white-washed villages. Follow the narrow mountain passes and head high to be rewarded with breath-taking views. As you ascend you may be lucky enough to discover, nestling on the mountain side, traditional family run restaurants offering simple delicious food and wine menus to satisfy the hungry traveller. These unique experiences along with one of the best climates in the world offering 300 days of sunshine each year ensure visitors repeatedly return to the unspoilt area of North Costa Blanca.

In order to maintain a healthy return on your investment you will need to consider how to manage the property. Some owners choose to hire a property management company who offer a complete package acting as the lynchpin between property owners and rental guests. They take responsibility for advertising, bookings, maintenance, cleaning and pool care. A reputable company will offer good service resulting in repeat bookings. A letting agent of this nature typically charge 30-40% for their service. On a property costing 438,000 as mentioned above, this offers you an income of around 24,000-28,000 euros, a return on investment of 5-6%. Alternatively, you could maximise your return on investment, increasing it to 7-8% by choosing to orchestrate bookings and advertising yourself. There are many small businesses in the area that you could arrange to take care of the changeover and pool care.

The chances of capital growth in the highly desirable Javea and Moraira area is very realistic. Prices have now stabilised and inflation alone will guarantee growth in your investment. Furthermore, vendors are pricing their properties realistically and are willing to negotiate. Javea, Moraira and the Bennisa Coast have sustained reasonable property sales throughout the crisis. The outlook is positive for this beautiful area of the Northern Costa Blanca.

If you are considering a purchase there are a number of elements to consider. For example, a north facing villa may rent well but if in the future you wish to sell it, you risk excluding Northern European buyers as they crave sunshine all year round. Engaging the services of a professional property investment advisor will ensure all gems of information are brought to light. By covering the complete market of properties available they will be able offer you the much needed insight and reveal the excellent opportunities available.

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Posted by on 11/16/2013 18:51:00

Moraira Property News 2012

Property sales in the Alicante province rose by 10% in
August compared to the same period in 2011. The rise is attributed to the increase in the number of
foreign buyers.

On a national scale the buying level has also risen according
to this report and others.

Although we can not obtain figures from the notary by town,
our local experience of the Moraira & Javea property market provides a good
barometer and supports the statistics. If anything, we would say that Moraira
has seen a significant rise in property sales during 2012 compared to 2011 according to
many estate agents and independent sources. It makes you wonder what the proportion of the Moraira property sales were, relative to the increase of the regional figures announced. Such a shame the notaries
will not provide us with the breakdowns per town. We have tried but our efforts were in vain. Apparently, all figures get sent
to the regional governments statistical department, where they collate the info
by region, or so we were told. We would have thought that this information should be public
knowledge! If anyone would like to take this up and let us know, we would
really appreciate it. We think it would provide some very useful information,
especially for prospective purchasers.

Purchasers are still mostly cash buyers but there are still a few that require mortgages. The problem with mortgages recently is that the valuations are poor.

The banks simply do not want any
risk. Some of the figures they give are very hard to swallow and in no way reflect the
actual prices being achieved on the ground. A word of advice here, especially
if you want to ensure the bank can give a prospective purchaser a better
valuation, is to make sure you have any undeclared accommodation registered
before you agree to a valuation or, if possible, even offer the property for sale.

The banks can only value what is registered!  It’s going to cost you to register what has not been registered already on
completion, so you might as well get it done first and at least you will
give yourself a better sales opportunity. Yes it’s outlay now rather than later
but money well spent! It could be the difference between a sale or no sale.

There seems to be many properties with un-registered
under-builds and extensions that can not be included in the banks valuation. As
an example a villa that’s priced at 550k may only value up to 315k should the
downstairs or extension not be registered with the land registry. This value is
what the bank will base their lending upon. 60-70% mortgages can still be
obtained, so it’s prudent to be ahead of the game if you are a vendor.

If you are a purchaser willing to pay the valuation fees,
circa 400 euros, for a bank valuation, it might be a good idea to ask the
vendor or estate agent if everything has been registered before you give the
instruction to the bank requesting a valuation, otherwise you may be in for a shock when the banks give you the
figures! So before you build up any hopes, please be aware of these facts.  If it has been valued and the figures are poor for the reason mentioned, the
vendor may of course try to get it all registered to satisfy a higher
valuation, which usually takes 2-3 weeks but in the meantime you may
run the risk of someone else buying the property and then you are 400 euros worse off and
dreams shattered. So it pays to do your home work and ask the right questions.

If you require sound property investment advice, please
contact us to find out more

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Posted by on 10/15/2012 20:00:00