Posts tagged with "property"

Energy Performance Certificate In Spain

As
from the 1st June 2013 every domestic property for sale in Spain will require
an energy performance certificate (EPC) which is regulated by the EC directive
2002/91/EC.  In Spain it is known as the
Certificado de Eficiencia Energetica (CEE) and is valid for ten years. The EPC
has its roots in the Kyoto Protocol which was a worldwide initiative started in
1997 to address the issue of Greenhouse gases and forms part of the ‘Energy
Performance of Buildings Directive’ (EPBD)

The
EPC provides information on how to make your home more energy efficient to
reduce carbon dioxide emissions. The test measures the efficiency of the
property as a whole and all energy consuming elements that are integrated
within it. The ratings are scaled from A to G, ‘A’ being the most efficient
and  ‘G’ being the least.

The
report will advise on how to improve the energy efficiency of the property in
at lest two ways. Improvements are voluntary not mandatory but could save you
substantial cost in the longer term. Insulating your home for example would
keep you warmer in the winter and cooler in the summer thus saving fuel cost.

Property
for sale

If
you intend to sell your property you will need an EPC before it is advertised.
For properties already for sale, you will have seven days after the 1st June
2013 to prove that you have applied for the certificate and then you are given
a 21 day extended period to obtain the EPC
You can of course obtain one beforehand. All estate agents are required
to show the EPC rating on their details. Failure to obtain the EPC could result
in a fine for both the vendor and estate agent, ranging from 3000 – 600,000
euros!   If a sale is agreed without the
EPC, your sales contract could be declared void and your purchaser can demand
compensation for not being informed about the properties energy efficiency,
especially if lawyers have been engaged.

Notaries
are also obliged to request the certificate when signing over the property.

If
your property has been insulated and double glazed, once tested, it should have
an excellent energy efficiency rating. This will be attractive to prospective
purchasers. On the other hand, if you have a poor rating, it could work against
you.

Rental
property

This
new law also affects properties for rent. A certificate will be required for
any let that consumes at least 25% of the annual energy consumption. This
applies to short term holiday lets as well! This short term letting is
obviously very difficult to police and many will choose to ignore the
requirement. If you advertise for longer term lets

(min
4 months) the certificate will be required. If you already have a tenanted
property, you do not require a certificate unless you get a new tenant. The
laws says that new tenants have the right to know the energy consumption of the
property they rent. Failure to provide the EPC means you can be fined 3.000 to
600.000 Euros by the Spanish government, your rental contract declared void and
your tenant can demand compensation for not being informed about the properties
energy efficiency.

If
you rent out your property through an agent, either you or your agent will need
to get a certificate for your property. An agent will not be legally allowed to
offer your

property
for rent or sale without a certificate. The law assumes that most holiday lets
that are being commercially advertised will consume more than 25% of the annual
energy used.

How
do I obtain an EPC

Only
a qualified official energy efficiency certifier can perform an EPC test.

The
building inspector will collect data from the building as follows:

1.Measurement of walls and windows and orientation, North, West,
East , South.

2.Composition of walls, cavity wall, insulation, materials.
Composition of windows, doors, double or single glazing.

3.Composition of roof, floors and foundations in contact with
the ground.

4.Solar control devices, porches. awnings, overhangs or shadows
that can affect the building excluding trees.

5. Installations, boiler, air conditioning, heating system,
solar panels etc..

The time it takes to collect all the information depends on many
factors. One hour for a simple one level property of a small size but longer
for a larger property on more than one level.

Other considerations also include, when the original property was
built, if it has been extended over recent years. This
data is then in-putted into a special program, which can then provide an energy
efficiency / carbon emissions rating. This is a quick process but may take
several hours subject to the complexity and amount of data being processed,
after which a certificate should be issued promptly.

If
you make changes to your property that help improve your rating, you can have
your property re assessed at any time during the period your certificate is
valid.

This article has been written by Anthony Bloom and may be used with permission only.

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Posted by on 04/24/2013 15:24:00

Moraira & Javea property news Nov 2011

It’s been 8 months since our last Moraira and Javea property news update. Time fly’s!

This year started very well as we reported previously. Thankfully many more clients have decided to use our services and we have continued to be very busy.
Many of the leading estate agents have also reported having a very busy year. Regardless of the dire economics we all face, there has been a glut of buyers ready with their cash.

The biggest problem has been and continues to be the significant reduction in the average property budget that buyers now have in relation to the bulk of property prices out there.

Consequently the availability of quality property stock that falls into the price band that people can afford has diminished and the amount of legwork involved with finding an affordable property has increased substantially for all concerned. You have to kiss a lot of frogs!

Over 93% of enquiries are for less than 400,000 euros and 70% of these are for less than 300,000 euros.
Having spoken to many agents they have confirmed a similar enquiry pattern.

For the majority of properties for sale, agents are struggling to close the reality gap between vendor and purchaser expectations.

Quality properties that do fall into the mainstream affordability band and represent value for today’s money have continued to sell throughout the year and expect next year to follow the same trend.

We have had a very busy year doing just that for our many clients and this is where a property finding expert can help you find quality property quickly and help you decipher the best from the rest in a short space of time.

Happy hunting!

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Posted by on 11/16/2011 07:39:00

Moraira Property Update

It’s been a while since we wrote about the Moraira property scene as we wanted to see and experience where it was heading.

As far as the property market goes it has picked up significantly for most if compared to the previous two years. The market seems to have stabilised albeit there are still many properties that are over priced. That said price corrections are now common place, but still the best bargains tend to be down to the personal circumstances of the vendor.

The year so far for us has been fantastic and likewise for many agents we speak to with property sales on the increase. Thanks to Moraira being a highly desirable place to be it attracts property sales as soon as things start to stabalise. There are many buyers around at the moment and hope this trend continues regardless of the UK media always talking about Spain’s deficit and painting a doom and gloom picture. The negativity probably takes the heat off the UK’s recent austerity measures.

Spain has its problems and they are of course very serious as is the UK’s but the coastal town of Moraira remains far more insulated from the wrath of the poor economic climate as a whole. In fact this summer has seen some of the largest crowds at the local fiestas ever and villa rentals are almost full.

The market here in Moraira is driven by Northern Europeans more so than the nationals or Spanish economics, although it’s bound to have some bearing on things especially when taxes or rates increase. Regardless of increasing living cost here in Spain, northern Europeans still want sunshine and a little paradise for their families. The irony is that people are now getting used to the economic problems and know they will not be going away for some time but meantime they still have a life to get on with regardless and now seems to be a good time to invest in property rather than leave cash in the bank which is also a concern for many.

The threat of turmoil was worse than actually being in it as we are today.
The problem with a threat is that you don’t really know how bad is it going to be, so people fear the worse and sit tight becoming spectators for a while which makes things even worse and then they wait until it’s bottomed out. The talk of a double dip recession does not make much sense unless you believe in a so called recovery. We all know the economic struggles we have today will last for years, it’s hardly going to recover and will simply stabalise itself and remain tough. We will probably see some more bailouts, mergers and austerity measures over the next two years or so but for most it will be no surprise and life will continue and wealth will still be created and spent.

So when does it bottom out? If bank bailouts, country bailouts, hardly any interest being paid from the banks to savers, debasement of their currency through the printing of even more money, lowest interest rates in history as well as the real cost of inflation being hidden is not enough, I don’t know what is!
Its no wonder property is becoming a safe haven again.

Consequently we see so many property buyers coming from Holland, Belgium and the UK. Only this time around it is being led by people that understand value for money and investment opportunities plus they are mostly cash buyers. Very different from the boom days where the many could well afford the Spanish dream based upon their equity in their main residence and when banks fell over backwards to lend money which all added to the property price hike.

Having spoken with many clients over the months it’s obvious there has been a shift in the mind set where once people were more than willing to sit it out and leave their money in the bank or in other investments.
95% of all our clients are now cash buyers. This is because anyone with savings, especially in a bank, hardly earns any interest. They seem to be taking their money and investing it into something tangible. Most do not gamble with stocks and shares at this level and historically property has always been a good long term investment that is reasonably safe, plus it is income bearing if you go down the letting route and you get to use it with the family, so it kind of makes sense.

Spanish banks have begun to lend again but to get the best deals around you need to put down 40%. The less risk for the bank the better the deal for you!
They do lend up to 70% and sometimes a little more but the packages are not as good.
They also vet you like never before especially if you have your own business, so be prepared! We have a few contacts for mortgages if needed!

A word of advice: It’s better to get your finances in order before looking for a property because you may be refused by the bank or if not by the time you get mortgage approval the property you found to be a real bargain gets sold to someone else. Happens all the time! If it’s any good that is.

Happy property hunting and don’t forget we can take away the stress and find properties others can’t as well as make things very easy for you!

Good luck until next time

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Posted by on 07/27/2010 07:25:00

Property valuations in Javea & Moraira

3 bed 120m2 moraira apartment for sale

3 bed 120m2 moraira apartment for sale

Recently I have been trying to make sense of property prices and valuations in Moraira and Javea.

There seems to be all sorts of data around with regard to valuations. The majority is not area specific relative to the Javea and Moraira properties for sale. Although we have seen, in some cases, a price reduction of around 20 – 30 % in advertised sales prices, it does not represent a true picture of the underlying value that was born during 2007 – 2009 financial crisis.

What the majority can afford will always dictate the underlying value of a property. It just takes a while for the reality to kick in. Many property owners out there simply don’t have to sell or can hang on to an unrealistic price until such a time when the majority of prices have been corrected. They then have to follow suit if they wish to sell. This process usually takes three years to bottom out to a realistic level. Some properties are priced to sell but the majority for sale still doesn’t reflect reality.

The properties that seem to sell are being substantially reduced when it comes to the actual deal done. Most never get to know how low the actual sales price was relative to the asking price. Many offers are refused but the ones that are selling are deals based upon a more realistic price level to start with. So how do you get a realistic valuation?

The process of valuation is arrived at by various means but rest assured, it’s always way behind the market when it comes to the reality of reductions! Most vendors already seem to know how much their villa is worth. They arrive at this in the usual way and this is based upon other advertised prices and what they think properties have been sold at next door or down the road over the past few months. Then by making adjustments for what they paid for their property and how much money they have spent on it, plus adding some on to negotiate with and “oh, the exchange rate is not in my favour” etc.

The other way is to ask an estate agent to come around to value the property. Estate agents are aware of the market conditions and will use slightly revised figures per square meter that reflect this but will still hold out in hope that the market will improve or will not be as affected like other areas. Historically there is a lot of truth in this as far as Javea and Moraira go. These desirable areas have been able to ride the storm far more than other areas, but of late there seem to be many people having no alternative other than to sell at low prices. In my opinion this time next year will see the low priced deals done today being the advertised sales price next year. So the initial figures estate agents arrive at will be similar to what the banks come up with to lend new money.The only difference is that estate agents are more at liberty to be a little bit more creative with the rest, usually increasing the valuation to please the vendor subject to how desperate they are to sell.

The truth is there is no rock solid formula and the formulas that exist in my opinion, do not reflect the true underlying value of a property or basically what the majority can now afford. Even the official figures are lagging behind what’s happening on the ground and what’s actually happening on the ground is lagging behind the financial crisis born during 2007 and it’s not over. It may take another year before we see some realistic prices being advertised, maybe even longer.

Estate agents talk amongst themselves and know, even if they are not selling much them selves, some of the properties being sold and at what price some are exchanging hands for. Many can’t believe the deals that are being done and it would insult many vendors out there wishing to sell if they knew. Consequently it’s easier to live in the past and avoid the confrontation when asked to put a value on a property! They allow the market to take its natural course.

Another way, though at cost, to value your property is to pay a bank to do it and allow them to be as clinical as possible. Don’t sell it to them! After all these guys will probably be financing the 70% mortgage to someone, somewhere down the line. Its inevitable banks will have their say because most buyers require some form of funding or at the very least an official valuation, so you might as well know how banks are going to look upon the value of your property before hand. At least you can waive an official bank valuation in front of them regardless.

Recently I thought I would compile 200 villa properties in Javea, taken at random from various websites. I made sure that the prices were reduced prices and that the properties had a similar build 150 – 175 and plot size of 850 – 1200. Then I totaled up the build size and divided it by 200, likewise with the advertised prices. Then I divided the average price by the average build and came to an average figure of 2,300 euros per M2.
I compared this 2,300 M2 figure with some recent bank valuations and arrived at a figure that was almost the same. Today I have spoken to a property valuation expert that does valuations for the banks. Banks use various registered organizations that specialize in such activities whom follow the guidelines laid out by central government.

One such organization is Tinsa and a report by them echoes my sentiment on this subject matter even though there info is dated relative to what’s happening on the ground.

Tinsa, a Spanish property valuation company used by several high street banks, has signaled that advertised house prices will drop a further 20% over 2009. In the same report, they have calculated the drop in 2008 as being 10.1%
If this figure is correct, Tinsa say that this will bring house prices back to their advertised levels in 2005. The monthly drop may be between 1 and 1.4%.
This is not news to many agents down here on the ground, who have seen price reductions of between 20 – 40% in the resale market. The official figures often lag behind the reality of business day to day.
A 10% drop in price does not really attract attention among the bargain hunters looking to purchase a Spanish home at a drastically reduced price. It is only those properties that have reduced to 2005 prices that are actually selling.

It may well take time for certain vendors and developers to catch up with the pricing downturn. It is only those that need to sell for personal or financial reasons that are pricing their properties realistically or accepting very low offers.

This translates into only a small percentage of properties available at ‘distressed’ prices. However, they are the only properties that are selling and selling quickly.

As there seems to be no accurate formula for property valuations, I asked how they establish a value on a given property. It was a little vague but here we go…..

Firstly, they have a valuation guide by province and this is broken down to some degree by area. The problem is that there are huge fluctuations from province to province and town to town. The system depends greatly upon each individual valuation officer having knowledge of a given area and the prices these areas are able to attract. For example a like for like property in the south of Alicante would be significantly less in price than say the north of Alicante in areas like Moraira and Javea.

The bulk of the valuation is based on the amount of actual living accommodation, excluding garages, terraces and undeveloped under builds. The plot is usually included in the price/calculation, unless it’s a double plot. The pool also tends to be included. Then adjustments are taken into account relative to the overall condition of the building, gardens, views and area. So it’s part science part art. One thing for certain is that properties with greater living accommodation have always valued up very well, where as smaller accommodation will not calculate favorably and therefore will be more difficult to sell especially if the buyer requires finance.

Some of the recent bargains I have come across are larger properties of 280 and 290 M2 build. As far as bank valuations go, they value up well and one was recently valued at 670k two months ago. But the prices they are being sold at are way below a bank valuation. The figures work out at 1,300 – 1,400 per M2!!
The reason for this is because that market for older properties that were once worth 600 – 750k has virtually gone, and what’s left of that market sector can buy something that was once worth 1.2million!

So to get back to property values in a real world, many of the once 600k – 750k properties are selling at around the 400k mark, some above and some below. This is mainly due to the fact that lending has become difficult and people have less value in their currency. Spain used to be cheap!

It all sounds like doom and gloom, but let’s not hide away from what is actually happening here on the ground. You might as well know because if you have a villa that you need to sell and it’s not too dissimilar to the many out there and amongst hundreds of others for sale within a given price band that 90% of the market can not even afford, through no fault of their own, how are you going to sell your villa?

If 90% of all buyers can only raise 300k – 400k at best, plus the additional 10% cost and you happen to have a villa that you think is worth 700k or 800k, think again!
Where is your market? Who are you selling to? The few buyers around with this higher budget can find amazing villa bargains that seem unreal and unfair but they indeed exist.
If one day the advertised prices are within the grasp of the many and sterling recovers to 1.45 against the euro, you may stand a better chance of finding a buyer. Either way, you will lose out on both the reduction in price and probably on the exchange rate if you need sterling!

One thing for certain is that resale properties represent amazing value for money. And are far less expensive than new build. You would be lucky to find a decent plot for less than 225k and anything with a sea view is at least 350k for a 1000M2 plot. With the cost of architects, building permissions and modern day materials and labour you don’t get much change out of 600k and that’s for something basic. Consequently, the future of new build looks grim and only prime and very expensive plot locations seem to be being built on for a more discerning customer.

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Posted by on 07/28/2009 19:26:00

Villas for sale in Moraira and Javea - Repossessions

Moraira property for sale

For some time now property prices have slowly but surley been corrected to take account for the economic downturn.

There are some genuine bargains to be had if you do your homework. It’s a mistake if you think that bank repossessions are bargains! It’s not always the case and sellers always try to recover at least the outstanding mortgage as a last attempt to sell. One must ask the question why the property has not sold before the repossession? In my opinion it’s usually for good reason.

Having seen many overpriced or undesirable villas for sale, I am not surprised they have never sold even though prices have been reduced. Many are not even worth the outstanding mortgage and consequently they get repossessed.

Banks will auction them off and try to recover the mortgage. If they fall short they will pursue the owners for the outstanding debt.

Assuming you can pick up a so called "distressed property sale” from a bank, there seems to be a fundamental flaw here as you risk inheriting the very same reasons why it never sold in the first place, so buyer beware!

As Moraira and Javea property finders, I have taken a close look at bank repossessions lately and it has been of no surprise I have seen many of the properties on the list over the past 3 to 4 years.

Understanding why property does not sell and what truly represents excellent value is paramount. The market may be depressed and property sales way down, but don’t be taken in by all of the media’s generalisations, sweeping statements and exagerrated hype stories. The fact is there are genuine bargains to be had and desirable property is still selling. It’s a buyers market and for those with some liquidity property seems to be a safe bet. Where else do you invest money and feel safe?

That said, more recently it has been more euro led since sterling has lost so much of it’s value.
Eurozone countries are taking advantage of the price reductions. The UK buyers whom once led the market are few and far between, compared to when sterling was strong but they indeed exist.

Real bargains tend to be with the people that bought before the boom began and paid very little for their property. If they have dire circumstances they can afford to let go and still recover more than most that say bought during the boom so it’s worth bearing in mind.

Without doubt there are some desirable properties at knock down prices if you have the time to find them but you need to be careful that you arn’t just buying work. Our property finding services are free so feel free to contact us with this link

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Posted by on 05/22/2009 14:10:00

Moraira and Javea Property Investments

The recent financial collapse of some of the leading investment banks, ongoing business failures, rising unemployment, stocks and shares rendered worthless overnight to what they once were and the credit crunch that is starting to kick in, it’s no wonder that the once highly inflated property prices have been affected. The value of sterling has diminished almost one for one against the euro having a dramatic effect on the once strong buying power of the UK pound.

Even the recent cut in interest rates by the central European bank did little to rally sterling other than a few points. As the UK economy slides deeper into recession, the threat of further interest rate cuts by the bank of England will again weaken the pound. What does the future hold for property owners in Moraira and Javea?

As Far as the Moraira & Javea property market is concerned, I think we are witnessing a market shift as people respond to the current crisis. More and more people will reduce overheads and find safer and more manageable ground. This will mean scaling down and selling off assets, for those that have to sell, at knockdown prices to realise some liquid cash whilst reducing outgoings. Even though Moraira and Javea property prices have been far more insulated from the massive devaluation seen in other areas, it has still been affected, more so, to those people that simply have no option other than to sell.

I think it’s going to be some time before we see any recovery and unfortunately more people are yet to feel the pinch. Historically, only 10% of property stock in Moraira and Javea would be up for sale at any one time. Due to the ongoing crisis I predict an increase this year of up to 15% as the full effects of a bad situation are felt. Consequently, buying property at knockdown prices is on the increase as investors and other people with savings capitalize on a dire situation.

Thankfully for most of the property owners, they don’t have to sell and let go of their dream but as the situation worsens many will have little alternative.

As professional property finders, finding a really good bargain takes a lot of effort. Sorting through the 10% of property stock takes much time and effort. What may seem a bargain may be fundamentally flawed and probably the reason it has not sold in the first place. There are some highly desirable properties at knockdown prices to be had. To maximize capital growth it is important not to inherit a problem or location that cannot be changed. Buyers beware!

For many years the UK buyers have predominantly driven the Spanish property market. Villas for sale in Moraira and villas for sale in Javea are no exception.

There was once a time when the majority of UK property owners had enough collateral in their UK home to finance a second mortgage for a holiday home in Spain. The increases in Spanish property prices over recent years closed the gap significantly and as this was taking place the property purchase model changed and the calculations included the rental potentials more so than ever before to help with annual cost. Bare in mind this was when sterling was at it’s strongest and Spain was a cheap holiday destination, especially before they joined the euro. Due to the fall in the value of sterling, the holiday rental market that Spanish property owners depend upon is going to be a tough one this year only adding to the problem. If you are depending on renting out your property this year, I recommend advertising within the euro zone and not just the UK.

Recently, interest rates have been reduced to all time lows, but how much the banks pass on to us is a completely different matter, especially if they have you paying 6% plus with an annual review! Therefore banks have an opportunity to make more money out of this situation. They will undoubtedly be reluctant to pass any savings on to us and will stretch it out for as long as they get away with it. If you have a Spanish mortgage, the devaluation of sterling means many property owners are now faced with extremely high monthly mortgage payments.

Many ex-pats living in Spain on a UK pension have seen at least a 30% reduction in their income. Many are now scaling down from their detached villas to smaller more affordable properties and even renting instead of buying realizing a little more liquidity to see them by. Some of the best property deals to be found are with the property owners that bought before the property boom. They can afford to sell at much lower prices than someone that bought during the property boom and still recover some profit. What the seller may lose on the price they have to sell at they can recover this lost value when they negotiate the price on a smaller property.

Mortgage defaults are escalating and consequently property repossessions are increasing. It is therefore important not to get into arrears and speak with your bank manager if you are having difficulties. Some are simply handing the keys and deeds back to the bank and walking away. Providing there is more value in the property than the overall debt, handing the keys back to the bank with no arrears means it then becomes an asset to the banks balance sheet. It’s never simple but handing the keys back could be a more favorable option for you but it means you lose whatever you have put into it but at least they cannot chase you around for the rest of your life or be made bankrupt. If people are in arrears with their mortgage and cannot pay the bank, after four months or so, the bank will issue a repossession order to the courts. A repossession order is a banks last resort as it also means a liability for the banks balance sheet. If the property is repossessed, the banks can auction off the property at a fraction of the market price and then chase you for the remainder of the outstanding debt and that includes any future earnings or inheritance you may one day have! Even if you go back to England, they have English lawyers in place to track you down. It is paramount that you speak with your bank manager before you fall into arrears.

As already mentioned, more recently we have seen much interest from property hunters /investors that are looking for highly distressed property sales, something that we specialize in finding for our clients. Some people do have money and those that have, at this moment, don’t trust stocks and shares and can’t earn hardly any interest on it from the banks without tying it up for a given period. And as for the rest of the alternative investment plans and schemes, just how are they going to be managed? Other than for some more specialized investments that you may have a role in managing, you have to be a rather brave investor to trust any institute again. Anyone for roulette!

Tying money up with the banks, in my opinion, is also a risky proposition right now, regardless of promises from the government to underwrite it.
I think cash is king and we all need some liquidity that’s totally accessible just in case governments declare a financial state of emergency. What if?

Having too much cash is also risky and a tangible asset makes perfect sense. If we take note of our boom and bust history, property seems to be a good choice right now and probably the only thing worthwhile. Unfortunately, we don’t have a crystal ball, so much for timing! I am afraid to say for those that have to sell, needs must but it’s a golden opportunity for an investor or simply someone whom has always wanted a place in the sun at the right price. That said, you have to realise a distressed sale when you see one.

Written by Anthony Bloom For more information www.spanish-property-sales.net

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Posted by on 01/20/2009 16:49:00

Luxury Villa for sale in Moraira

Sea View, El Portet Moraira

Sea View, El Portet Moraira

Moraira Villa

Moraira Villa

Sunset

Sunset

Dining Room View

Dining Room View

Pool

Pool

Rare opportunity! Magnificent 2nd line villa in El Portet. Stunning views! 10 min walk to beach. Dream property, viewing highly recommended.

Property Reference: 7331 This beautiful villa in an idyllic and prestigious location is a rare find. It enjoys a spectacular, uninterrupted view of the Bay of Moraira and Calpe Rock, framed by the stunning peaks of the Sierra Bernia on the horizon. What is arguably the prettiest beach on this stretch of coast is a short walk away, as are the charming town and marina of Moraira, but this house also offers a tranquil retreat – simply the best of all worlds. The spacious, poolside terrace, ideal for entertaining, offers a commanding view, privacy, and sunsets which will take your breath away. The chic, rustic style of the interior blends perfectly with the sophisticated elegance of the exterior – large rooms with subtle natural stone and timber features, and an abundance of panoramic glass doors opening onto the terraces for the ultimate enjoyment of a Mediterranean lifestyle. To the rear, the immaculately maintained terraced garden with a profusion of fruit trees and flowers nestles into the protected headland, affording total seclusion.

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Posted by on 11/17/2008 16:23:00

Spanish Property Market

The Spanish property market has been experiencing difficult times over the past couple of years and many Estate agents have gone out of business and many more are set to follow. The exchange rates for sterling are at an all time low against the euro and predicted to get worse. Some are saying one for one over the next twelve months. At that time the UK will probably join the euro if it’s not already been orchestrated!

The doom and gloom of the British economy is having a negative effect on everything, especially the spanish property market that was once booming. There are still people buying property in Spain but the trend seems to be people leaving the UK and selling up to seek a new life. It’s understandable, especially with the recent events with the new PM Gordon Brown and his crew.

Some of the property prices here are reflecting a bad situation and those who need to sell are reducing there prices accordingly. There are a few good deals to be had if you know what you are doing. It’s certainly the time to buy and have recently seen an influx of private investors swooping up some of the worthwhile deals to be had. Some are not worth having if it’s a fast profit you want!

Finding the right property is a very time consuming task and most people simply do not have the time , let alone the expertise , in finding the best deals and a property worth investing in.

There are areas in Spain that should be avoided mainly due to the mass developments that have been allowed along the coast, many of which continue to cause financial problems for the investors and more recently the short sighted developers who built them!

To shop smart, you really need an expert property finder that is well versed in such a task and can fast track you to the best deals worth seeing.

Here is a general property link

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Posted by on 05/31/2008 21:42:00

Moraira Property for Sale

Villa

Villa

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The villa was reformed in 2006 Main accommodation has 3 bedrooms, family bathroom, en suite, Lounge, kitchen dining, naya, terrace, pool, summer kitchen dining area BBQ. Apartment below with separate entrance, 1 bathroom, double bedroom and living room. Plumbing done for a kitchenette if required. Central heating, aluminum D/G windows, air con to 2 bedrooms in main villa and both lounges. Store room, water deposit for garden. Sloping Walled plot, Fruit trees and low maintenance gardens surrounding the property.Feature fireplace.

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Posted by on 02/22/2008 20:50:00

Moraira Villa for Sale

El Portet Villa

El Portet Villa

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Built nine years ago to a high specification in a rustic style. Rustic wooden gates leading to a private driveway, off road parking and garage. Separate personal door entry with intercom. Mature and well-stocked gardens. At entrance level we have hallway leading to Shower room, WC, utility room, bedroom 1 with terrace and naya with wonderful sea views. Bedroom 2 with En suite. Both bedrooms have separate access to a private terrace and naya looking out over the bay. Air con to all bedrooms. Total of five terraces.
Several steps down to cosy lounge with fireplace and large dining kitchen. Access to main terrace, nayas and pool area from both kitchen and lounge. Separate BBQ area with terrace and seating. Upper floor accessed by gallery styled staircase from entrance hall, comprising of 2nd lounge area/snug with fireplace. Bedroom 3 with en suite. Lounge and bedroom having separate access to a further large terrace with magnificent views. Separate stair access down to pool.

Update: This property has now sold, view other properties for sale in Moraira

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Posted by on 02/22/2008 20:47:00