Spanish Property News

A Good Time To Buy Property in Spain

2010-07-03T06:36:00.000-07:00

Apparently now is a great time to buy Spanish property and property Costa del Sol as the banks once again play games with their balance sheets. When the financial crises struck the Spanish property market, the banks avoided making massive write-downs by converting the loan assets into hard assets - the homes the loans were on.

This was a great idea at the time but now the 59.7 billion euros worth of homes on the Spanish banks' books have become as big-a-burden as the troubled loans they were swapped for, and the banks are now offering crazy mortgage deals including no-money-down, ridiculously low teaser rates and long deferral periods of up to 3 years.
This has been triggered by the Spanish central bank forcing banks to increase their loan loss provisions against their property assets within a few months, because of a fear that Spanish banks haven't properly set up reserves against the risk of their vast property holdings.

Given that increasing loan loss provisions would force Spanish banks to recognize losses in their income statements, many are now eager to sell off their houses.
The banks are once again delaying the inevitable, because loans like this are almost certain to have a high default rate, but the banks know that this won't have to be dealt with for a few years.

Thoughts on the banks doing this aside, it could present a good opportunity for buyers. Looking at the UK property market now, the recovery is being severely hampered by the fact that only those with a deposit of 10% or more can secure a mortgage. It certainly doesn't look like this will be a problem shared by Spain.
This may also go some ways against the repossession problem, because the properties going hand in hand with these favourable mortgages are obviously being sold at a reasonable market value, rather than rock-bottom pricing seen with repossessed properties in Spain.

Spanish Property Market Update

2010-06-26T07:05:00.000-07:00

The latest real estate figures on prices and transactions are giving hope that the Spanish property market is improving but foreign property investors are still not returning to the country in great numbers.

Prices are still falling, but less with every passing month, according to the monthly house price index published by Tinsa, one of Spain’s leading appraisal companies.

However the Tinsa figures show prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for fly to let holiday properties and retirement homes.

Average Spanish property prices fell by 4.4 percent over the 12 months to the end of May.

“If the Tinsa figures are to be believed, the rate of decline in Spanish property prices has been slowing since June 2009, when it peaked at 10.1 percent,” said Marc Stucklin of Spanish Property Insight.

“If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year.”

But Stucklin points out the Tinsa figures are based on their own valuations, not actual transaction prices.

“Most of these valuations have been paid for by banks and for several reasons they might not give a true picture of property prices,” he added. “Nevertheless, they are interesting in what they reveal about trends, not to mention the valuations used by banks for mortgage lending purposes.”

Prices are down 4.1 percent on the coast and 2.4 percent in The Canaries and The Balearics.

On a peak to present basis prices are down 16.5 percent nationally, 21.4 percent on the Mediterranean coast, and 12.8 percent in the Canaries and the Balearics.

However foreign buyers are not flocking back. The latest figures from the Ministry of Housing show non-residents bought just 513 holiday homes in Spain during the first three months of the year.

According to the Ministry transactions were up in the first quarter by just 1.5 percent and on a cumulative 12-month basis sales were down 85 percent.

Sales increased over 12 months in places like Catalonia, up 13,6 percent, The Balearics, up 7,9 percent, Asturias up 4,6 percent, Madrid up 4,5 percent, Valencia up 4 percent and the Canaries up 1.4 percent.

Prices fell by 22 percent in Murcia, were down 14.4 percent in Extremadura, down 10.3 percent in Castilla La Mancha, saw a fall of 9.5 percent in Andalucía, some 7.8 percent in Navarre, 2.8 percent in Cantabria and down 0.6 percent in Galicia.

Stucklin also points out foreigners who are buying tend to be economic migrants from places like Morocco and Ecuador buying primary homes in or around Spain’s big cities.

“They won’t help mop up the glut of holiday homes on the coast,” he warned.

“There are tens, if not hundreds of thousands of holiday homes for sale on the coast that will need to attract foreign buyers in large numbers if the holiday home glut is to be dealt with anytime soon.”

Last week a new report from Spain’s Property Registrars suggested transactions are bottoming out, though it is still too early to declare a recovery under way.

The number of property deeds of sale recorded in the property registry rose by 7 percent in the first quarter of 2010 compared to the same period last year.

This is the first time in several years that annualised sales have risen in a quarter.

The report cautions against declaring a recovery under way. They point out that temporary factors such as the imminent increase in VAT on home sales, and elimination of tax relief on mortgage payments, could be bringing forward sales and boosting the figures temporarily.

More Spanish Property Idiots

2010-06-19T06:18:00.000-07:00

As we always say don’t believe everything you read in the press especially the bit I picked out below and he obviously isn’t referring to luxury property in Spain------------------------------------------------------------------------

The cost of a home in Spain may fall even further as it has not yet hit its lowest point.
In the view of property writer Marc Da-Silva, there is still a long way that prices in the country can fall before they hit their lowest point.
The total that prices still have left to fall could mean large reductions on some of the values being seen at present.
"If you look at various statistics there are real genuine signs that property prices need to fall further - 15 to 20 per cent on average," he said.
He stated that people who are purchasing in the country need to be sure that they are buying at the right price or they could be purchasing negative equity.
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This guy should have been out with us in Marbella this week where its getting harder and harder to find good quality discounted property especially luxury property in Spain

More Proof That the Spanish Property Recession is Over

2010-06-11T12:27:00.000-07:00

Spanish property prices are still falling, but less with every passing month, especially the property for sale in Costa del Sol according to the monthly house price index published by Tinsa, one of Spain’s leading appraisal companies.

Average Spanish property prices fell by 4.4% over 12 months to the end of May, show the latest figures from Tinsa. That said, prices actually fell a fraction compared to last month, even if they rose compared to the same month last year.

According to TINSA, the rate of decline in Spanish property prices has been slowing since June 2009, when it peaked at -10.1%.

If the trend towards smaller declines keeps up, average property prices will be stable, or even growing slightly before the end of the year.

Coast and Islands doing best

Not Suprisingly, prices have fallen the least over 12 months in coastal areas and the Islands, areas traditionally popular with foreign buyers looking for holiday and retirement homes. Prices are down just 4.1% on the coast, and 2.4% in The Canaries and The Balearics. The Reason its not a major suprise is it is international buyers taking great advantage of the situation in place they want to buy.

Small Banks in Spain facing Funding Problems

2010-06-09T08:32:00.000-07:00

Spain's smaller banks are suffering due to the huge amount of property for sale in Spain that is not selling and the bad lending made is beginning to come home to roost

Smaller Spanish banks are losing access to the European repo market due to concerns Spain could be heading for a debt crisis along the lines of EU partner Greece, a top financial source in Spain said on Wednesday.
The repo market is wary of smaller Spanish lenders because of their real estate losses and because they can only offer Spanish government bonds as collateral.

The sharp rise in Spain's 10-year government bond yield since mid-May, to a peak of 4.66 percent from below 4.00 percent -- has brought it above the previous high of 4.50 percent hit just before the European Union agreed on a trillion-dollar financial safety net for eurzone countries in early May.

"The smaller Spanish banks cannot finance their positions in (Spanish) government bonds through the repo market outside Spain. This shows just how little appetite their is for Spanish government risk outside Spain," the financial source said.

"And the problem is these small lenders do not have access to the interbank market so basically they are tapping the ECB to cover short-term funding needs," the source said.

A source cited by Cinco Dias newspaper said however the bigger Spanish banks, particularly Santander and BBVA , are not having any major funding problems.

"Only the biggest Spanish banks are managing to get funding, but backed by bonds from other countries such as Germany. With our national bonds they are not managing to get anything," an executive at a Spanish savings bank was quoted as saying.

Santander and BBVA are well capitalised but also have a robust liquidity position. BBVA said in April it already had 80 percent of its funding needs covered for 2010.

"And the listed banks can always raise capital for emergency funding but the unlisted savings banks do not have this possibility," a leading Spanish bank analyst said.

Spain's 45 largely unlisted savings banks -- which account for 50 percent of the financial system -- are suffering the impact of a sharp downturn in the property sector after a decade-long boom and are immersed in a government-driven consolidation process aimed at restoring the weaker banks to good health.

Currently about 35 of the small lenders are involved in mergers with the clock ticking on government funding via the Fund for Orderly Bank Restructuring which expires at the end of June.

There have been signs for some weeks that Spanish banks were having to pay a premium to borrow in their domestic repo market as the broad repricing of euro zone sovereign credit risk raised lenders' concerns over the liquidity of the banking sector.

Other banks based in the stressed fringe euro zone countries -- Portugal, Italy, Ireland and Greece -- are also struggling to find any offers for term funding in the wholesale interbank market, said ICAP analyst Chris Clark. (see [ID:nLDE6581DX])

A credit analyst source told Reuters the issue for Spanish banks was not one of liquidity, as the banks have the ECB to rely on, but that it shows that in the current risk-averse climate smaller banks are being ostracised.

"The markets are almost shut for Spain," the international banking source said.

Market access could improve if Spain's Socialist government announces further austerity measures, the source said.

At the end of May, Spain's credit rating was cut by Fitch to AA+ from AAA, adding to fears the country was heading for a debt crisis from which it will need to be bailed out.

On Monday, the Treasury announced it would aim to raise between 3 and 4 billion euros on Thursday through the auction of a new benchmark, three-year bond.

Amid concerns that the auction might not be well enough bid, analysts have said they do not expect the auction to fail partly because Spanish banks such as Santander and BBVA would buy the bond if necessary because they have access to funding.

Paul Kenyon Wins 2m In Spanish Property Case

2010-06-04T12:25:00.000-07:00

A WELWYN man has successfully won a £2m High Court action, along with World Cup hero Sir Geoff Hurst, against fraudsters involved in a luxury Spanish property scam.

"We are relieved at the judgment at the end of a terrible ordeal for my family. "

Paul Kenyon, Sir Geoff and four other people sued businessman Mark Cordner, of Park Lane, Knebworth.

The claimants had alleged, due to Mr Cordner’s deceit, they had paid full price for apartments in Marbella, in 2003 and 2004, to which their rights were now worthless.

Judge, Mr Justice Keith, on Thursday ruled the investors were entitled to damages having been deceived into parting with six-figure sums on the basis of “a tissue of lies” told to them by Mr Cordner and his associate Michael Hone.

Mr Kenyon, who was tricked into handing over £251,748 to buy a luxury apartment, later discovered his cash was used to purchase Mr Cordner’s own large detached house in the Times Territory village.

He told the Welwyn Hatfield Times: “People need to be aware of what this man has done.

“We were 99 per cent sure that we were going to win this case.”

Mr Kenyon continued: “We are relieved at the judgment at the end of a terrible ordeal for my family.

“I am annoyed that someone I thought to be a close friend could take our money and carry on for years as if nothing had happened.

“We only discovered that Mark Cordner had used our money to buy his own property from documents we obtained with a court order.”

Mr Kenyon added he was now hoping to recover as much of the money as possible.

Chris Corney of solicitors DMH Stallard was working for the six claimants.

He said: “This case shows the perils of buying property off-plan in Spain without checking the legal background first. “Sadly many more British property buyers have fallen victim to similar scams.

“In some rare cases it is possible to trace fraudsters’ assets in the UK and we are hopeful these claimants will make a significant recovery.”

The amount of damages the group – which includes David Barkley, Terence Hopley, Martin Roberts and Verna Roberts – are entitled to will be assessed at a later date.

Soccer star Sir Geoff, who was conned out of £600,000, was not in court to hear the judgement.

Standard & Poor predict More Spanish Property Gloom

2010-06-02T11:43:00.000-07:00

The Spanish property market crash has not yet hit bottom. The Standard & Poor’s rating agency believes that the country is still “a long way to go,” and that prices could still fall another 12%.

The authors believe that “the massive stock of supply” of housing (around a million homes, according to some estimates) should have caused a greater fall in prices. In any case, since the creation of new homes has fallen to about 300,000 a year, “will take several years to absorb the excess.”

Housing prices in Spain could collapse 12 per cent according to a report published by Standard and Poor’s on Tuesday.

According to official figures contained in the report, the annual rate in house prices in Spain fell by 6.1 percent in the fourth quarter of last year with the Costa del Sol property market outperforming this sector

S & P also includes data provided by Tinsa, one of the largest assessment agencies property in Spain, which estimates that property prices fell by 5.3 percent in the last 12 months to March 2010 compared to June, 6 per cent in December 2009.

Accordingly, the price of housing in Spain, where economic fundamentals are “bad”, have not decreased more than 16 percent, far less than what happened in the UK or Ireland

Marbella leads the way as Planning Approvals plummet

2010-05-31T08:24:00.000-07:00

Marbella is heading the way in not granting any new planning consents for Marbella Town and it now seems that the rest of Spain is following suit is trying to clear up the existing mess before starting a new one
Residential planning approvals are still falling fast, showing that the building sector has not yet touched bottom.
Residential planning approvals were down 24.4% to 23,559 units in Q1 compared to same time last year, according to latest figures from the Ministry of Development.
Dismal as this news is for home builders, the fact that the rate of decline appears to be slowing can be interpreted as good news. Planning approvals were down 35.7% as recently as January, and fell by 58% last year. In contrast a decline of just 24.4% doesn’t seem so bad.
At this rate there could be less than 100,000 planning approvals this year, compared to around 900,000 at the peak of the boom. These figures show how badly home builders have been hit by Spain’s property crash.
As usual, the vast majority (75%) of planning approvals in Q1 were for blocks of flats, the rest being for other types of housing. Flats have been hardest hit by the market slump, so planning approvals have fallen by more.
Whilst planning approval requests for new homes have slumped, refurbishments have risen slightly. 7,563 refurbishment applications were approved in the year to March, 8% more than last year.
All in all very good news for the Spanish property market and we are already seeing the signs of this working in Marbella.

Spaniish Property Holiday Home Glut - 4 years More

2010-05-28T10:29:00.000-07:00

Spain’s glut of newly-built holiday-homes will take the market between 4 and 5 years to digest, according to José Manuel Galindo, President of the Association of Developers and Constructors of Spain (APCE). The over-supply of first homes, on the other hand, will have gone within 2 to 3 years.

There were 700,000 new homes on the market at the end of 2009, according to the APCE’s figures, many of them holiday homes in coastal provinces. Thanks to a recent rebound in property sales, up 16% in February and 8% in March, and a process of price adjustments that Galindo claims is now almost over, the glut of new homes is already disappearing in some parts of Spain. For the first time since Spain’s property crisis began, there are signs of light at the end of the tunnel, in some areas at least.

For example, the excess inventory of new homes in Cantabria, an autonomous region in the north of Spain, will have gone in less than 2 years, whilst the same process will take 2 to 3 years in some provinces of Andalucia and Galicia. Provinces in the Valencian Region, on the other hand, will need 4 to 6 years.

Referring to the recent bounce in homes sales, Galindo described it as “the best news in almost a year”. He is confident sales will continue growing to a total of around 300,000 this year, though he did acknowledge that Government’s moves to slash the deficit, such as reducing pay for civil servants, could derail the recovery in home sales. Property in Costa del Sol will take 4 years more.

Looking to the future, Galindo expects the real estate sector to fall from 18% of GDP at the top of the boom to 12% today, with residential construction accounting for 6% to 7%. “We have adjusted more than our fair share” he said of his industry

Notary Fees been Cut - Just a drop in the Ocean

2010-05-28T10:21:00.000-07:00

Not a helping hand for the Spanish property market just part of the Austerity measures being implemented by the Spanish goverment

The government has announced a 5% reduction in notary and registry fees on property deeds as part of a package of measures to reduce the deficit and stimulate the economy.
Notaries and Registrars are screaming blue murder at this attack on their earnings, whilst house buyers will hardly notice the difference the savings are so small.
How big a saving will that 5% reduction in notary and registry fees give the average home buyer in Spain? Between €35 for a property costing €150,000, and €45 for a home costing €300,000, according to calculations done by Idealista.es, a Spanish property portal. Almost insignificant, then.Notaries and registrars are furious like most people in Spain

Estate Agennts Buying Repossessed Spanish Property

2010-05-28T10:15:00.000-07:00

An increasing number of property agents are taking advantage of the cheap prices available in the Spanish rental property market and buying real estate, Overseas Property Professional has reported with Costa del Sol property being especially sought after.

The news provider, which conducted some research on behalf of Crest Group International, found that repossessed property in the destination was proving to be popular with agents.

Ian Waudby, head of the group, told the news provider: "There is clearly a high level of interest back again.

"There is a lot of demand but several parameters have to be just right for the sale to work, from finance to the legalities of the sale."

The news comes at a time when the Spanish economy remains in a dire state, with concerns still present about its national debt.

It could lead to an increase in the number of individuals looking at property for sale in Castille-La Mancha, with the region boasting a warm Mediterranean climate.

According to the Association of Independent Tour Operators, Spain is poised to become the top holiday destination for Britons this summer.

Spain Opportunities

2010-05-20T00:21:00.000-07:00

Individuals looking for European property may be interested to hear that there are plenty of bargains to be found in Spain.

This is the opinion of Steve Reid, retail director at Clydesdale Bank, who believes that now could be a good time to take advantage of discounts in the country's real estate market.

"With prices in Spain coming down so much there are potential bargains to be had for those looking to buy," he confirmed.

"However, many are intimidated by the idea of dealing with a foreign house-buying process, where different rules and language barriers can add to the stress, and may want to see how Spanish property prices fare."

His comments come after Clydesdale and Yorkshire Banks launched a new service for individuals looking to buy property in the country.

The two organisations are offering UK buyers the opportunity to rent a home in Spain before purchasing it so that they can see how the recovering market fares and reduce risk.

Earlier this month, the National Association of Estate Agents International claimed that not investing in the country and waiting for the market to stabilise does not guarantee buyers a better price for homes.

Tinsa Property Price Index for March

2010-04-18T06:45:00.000-07:00

Spanish house prices fell 5.3% year-on-year in March following a 5.5% drop in February, property website TINSA said Tuesday. A year ago, house prices fell 9.7%.

House prices in the capital and large cities decreased 5.4% and those in the metropolitan areas fell 5.6%. In the Mediterranean coast, prices were down 7.8%. House prices were 5.7% lower in Balearic and Canary Islands. Other municipalities showed a 4% fall.

In the first quarter, house prices dropped 1.7% compared to the previous year when prices were down 3%.

On the same day, Spain's National Statistics Institute said home sales rose 7.2% month-on-month in February, taking the annual growth to 18.7%.

What this all really means is that the latest stats show a stabilizing and bottoming out of the fall in property prices but no one knows how long it will take for the excess stock to be taken up, with some saying well into 2016.

Is This the Best Spanish property Webiste in the World

2010-04-10T12:18:00.000-07:00

If you have visited the Spanish Hot Properties website you may have somewhat been taken aback at its stunning new look and whilst this particular site has always had a touch of class that some other sites in Google’s top ten didn’t have there recently launched new site does look particularly stunning and seems to have everything a visitor looking for Spanish property would want. So what makes it so fantastic, we thought that would be a good question to put to Spanish Hot Properties Managing Director Nick Stuart and it wont surprise you he was quite happy to talk about his pet new project some 6 months in the making. To this particular question Nick responded “The three major watchwords of the new Spanish Hot Properties website are LOOK, USER EXPERIENCE & CONTENT. Look is of major importance to us after all we are selling multi million Euro properties and as a user of the website you should get a feel of our other 3 major watch worlds Quality, Class & Style and we very much believe that we have achieved this in the new site. As for User experience what is the point of having a great looking website if it doesn’t deliver what the user needs. We think we have addresses a lot of issues that were wrong with our previous site and other sites out there, We have made the property sales & rentals section of the site easy to navigate and use and have made a big effort in the administration side of the site to actually cut down on the number of meaningless towns to navigate through. We are still very much at the cutting edge of new technology and continue to have video as a major part of the site. As for Content We have every section you could possibly need as an overseas buyer but more importantly have gone into real depth on the matter and our page the Buying Process in Spain is one of the most frequently read content information pages out there. However unlike some sites we haven’t filled up the site with meaningless content just to make the search engines rank there sites higher.”

So Nick seems very happy with the new site at Spanish Hot Properties and I have to say he makes a lot of valid points but for me the number one benefit for the site is a genuine enjoyable user experience and a Spanish property website that is very easy to use.

Those wanting more information about Spanish Hot Properties and there website should visit Spanish Hot Properties.com or Telephone them directly

Property Deals Spain Launched Today

2010-02-15T08:13:00.001-08:00

We are very pleased to be able to tell you about the launch of our sister site Property Deals Spain a new site just concentrating on our customers who want to register and get help for our bargain property, Spanish bank repossessions and distressed sales. One of the reasons for doing this is that our main site is so big and vast and has such great content some people get lost and don’t know where to register to get information on the great deals we have.

So if your looking for Mallorca property where there are some fantastic opportunities for the serious buyer who can act now then all you have to do is visit the site and register. The only real problem is you are unlikely to find the site high on Google search engines as the site is basically only 6 pages or so but we will be doing specific Google Ad Words for Mallorca.

Now another interesting market is the Costa Blanca property market and again we have some superb deals which people might not be aware of by gong directly to our home page and hence the reason for Property Deals Spain.

Finally we have Costa del Sol property which is very much the place where the best deals are in percentage terms and we would strongly recommend you visit the site and register.

We hope you find the new addition to the Spanish Hot Properties Group useful and hope to see you register soon.

Property prices starting to rise

2010-01-12T12:16:00.000-08:00

Property prices are starting to rise in some parts of Spain, according to a new report from one of the country’s largest savings banks.

The much awaited real estate recovery is underway in locations where there is no glut of property such as Cantabria, the Basque region, Asturias and La Rioja, says the report from Caixa Catalunya.

‘House and land prices have touched bottom in some cases. The adjustment is almost over, if not already,’ said Eduard Mendiluce, head of Caixa Catalunya’s property division Procam.

But there is no good news for those wanting to sell in popular areas such as the southern coast where there are many new and holiday homes that are not selling.

Indeed the report points out that there are between 660,000 and 1,040,000 homes on the market. This represents between 2.6% and 4.1% of the country’s housing stock. They expect the glut to fall slightly to between 640,000 and 1,070,000 in 2010, down to between 2.5% to 4.2% of housing stock.

The Caixa Catalunya report estimates that there will be an annual demand of 220,000 homes between now and 2015, almost half the level of 300,000 to 450,000 estimated by developers. At this rate it could take five years for the market to digest the glut.

But there is more good news for the luxury end of the Spanish property market with buyers agent Barbara Wood of The Property Finders, reporting that transactions in prime areas around Marbella were increasing as early as the first quarter of 2009. ‘Secondary areas lagged behind with the first green shoots only appearing about nine months later and the worst locations are still in total paralysis in 2010,’ she said.

Currently the typical person looking for property is a cash buyer, buying for their own use, with a medium to long-term perspective, not dependant on rental income and only interested in buying in prime locations, she explained.

‘And those that require a mortgage need a maximum of 50% relative to value. In other words, the right purchasing parameters are in place again. Spain’s property market managed very well without a mass market before the boom of the Noughties and will do so again, returning I hope to the stability and long-term growth that held for four decades but this time going for quality rather than quantity,’ she added.

She also points out the uselessness of official statistics. ‘The official Ministry of Housing figures, based on registered transaction prices and supposedly objective, are distorted by under declarations of the sale price in the past and only once we have had several years of full price declaration will this distortion be washed out of the system, while the oft-quoted TINSA stats are based on subjective market appraisals. Either way, they are unreliable and, therefore, are meaningless,’ she explained.

‘There is only way to get good information about what prices are doing in 2010 and that is to talk to someone who is actively involved in putting deals together right now. When I’m asked about price falls, if they have hit bottom or if they have further to go my reply is that it all depends and there is no one answer but it seems to me that there are two main factors influencing outcomes: location and how badly the seller wants to sell. I would say there is a shortage of top quality properties in the best locations at the right price level for 2010,’ added Wood.

Elsewhere in Spain, British expats yesterday marched through the streets of Almeria in protest at plans to bulldoze their illegally-built properties. The owners say they all bought their properties in good faith, but it has since been discovered that they were all built illegally on protected rural land. While under the current proposals only eight properties have been served with demolition orders, many more are under threat.

Protesters are particularly angry about the fact that none of the affected home owners were ever informed of the risk to their properties, despite years of legal battles between municipal and regional authorities.

Spanish property Good News ?

2010-01-01T07:47:00.000-08:00

When shares in Inmobiliaria Colonial SA, one of Spain's largest property companies, tumbled 40% within days two years ago, the company's decline was seen as a sign that the Iberian property boom had run out of steam.

Colonial now appears close to refinancing €4.9 billion ($7.3 billion) in debt. That is one of the first indications that Spain's property markets could be near bottom. But the path to health remains a steep one for Colonial, whose stock remains at distressed values.

Last week, Colonial said that real-estate private-equity groups—Colony Capital Partners and Orion Capital Managers —had acquired Colonial debt from Goldman Sachs Group Inc, assuming Goldman's position as lender. The deal is part of broader talks to restructure Colonial's debt.

According to participants in the talks, Colonial and its lenders are close to agreeing to convert 35%, or about €1.7 billion, of the company's debt to equity. An additional 45% of the debt would remain linked to income from Colonial's properties and the remaining 20% would be linked to its development business.
The Spanish news agency EFE reported that Colony and Orion will convert debt with a nominal value of €1 billion into Colonial shares.

Colony and Orion declined to comment. A Goldman official couldn't be reached.
A report in the trade magazine EuroProperty said Goldman had lent as much as €1.5 billion to Colonial and sold the debt to Colony and Orion for €950 million, a hefty discount.

"This is a strong recovery play," says Michael Haddock , director of European research at property services company CB Richard Ellis in London. "They are putting their faith in Colonial and recovery of the Spanish market."
Recovery could be a long time coming. Colonial's shares are trading at around 18 European cents, hardly a vote of investor confidence, and have traded in a 52-week range from 11 European cents to 24 cents.

Spanish property values peaked in the third quarter of 2007, when capitalization rates on office property stood at 4.25%. Cap rates express the relationship between income and the costs of the property. A higher cap rate indicates falling prices. For the past three quarters, Spanish prime office cap rates have been stable at 6.5%, suggesting that capital values for the best office space in Madrid and Barcelona have fallen 35% since the peak in 2007.

The decline of property values in Spain hasn't stopped, though. While cap rates have stabilized, rents are still falling, hitting overall valuations.
"Commercial real estate still has further to fall in Spain," Mr. Haddock says.
Colonial owns offices, warehouses and shopping centers in Madrid, Barcelona and Paris. The firm is still suffering from piling on debt for acquisitions made at the top of the market, especially the €2 billion takeover of shopping center developer Riofisa in early 2007.

London-based Orion was formed in 1999 by three former executives from LaSalle Partners and is targeting the U.K. and Spain. Earlier this year, Orion tapped Roberto Roca , a veteran of LaSalle Investment Management , to run its Madrid-based Iberian operations.

Mr. Roca, who declined to be interviewed, has said Orion is keen to pick up distressed loans and property assets.In May, Orion bought Plenilunio, one of Spain's biggest shopping malls, for €235 million from Grupo Santander.
Colony, a Los Angeles real-estate private-equity firm, is led by Tom Barrack , known during the boom for doing flashy deals. It helped lead the $5.4 billion takeover in 2007 of Station Casinos Inc., which filed for bankruptcy this year. Last year, the firm bought the note backing Michael Jackson 's Neverland Ranch.

Colony and Orion aren't banking on a fast turnaround of the Spanish market. But they are betting that over the course of next year Spain's property market will begin to recover. With its debt made manageable, Colonial could be a good vehicle for them to ride a recovery of Spain's property market.

2010 & Costa del Sol property

2009-12-30T04:32:00.000-08:00

Hi all my name is Nick Stuart, MD of Spanish Hot Properties and Spanish property news have kindly asked me to a guest blog about the state of the Costa del Sol property market in 2009 and the future for 2010.

The reality is that overall the best deals were bought between May and October of this year with some fantastic deal like our French client who bought a Townhouse value €450,000 in Nueva Andalucia for €250,000 and if that client arrived on a plane today we would struggle to find the same value for him. There is still value in Marbella property out there but it is much harder to find and most international clients are still living in dream world with there expectation of what properties can be bought for and its happening at all parts of the market with a recent client looking at penthouses over 1 Million but failing to grasp that there wasn’t the same value as there were in Villas because there were just not the quality Penthouses available he wanted. Even in a recession the supply and demand cycle has to taken into consideration when evaluating things.

The luxury Spanish property market is petty much untouched by the credit crunch for those who want top quality and top location and are not prepared to make any compromise.

So what for 2010 and Spanish property in general. Well its possible the market may go down further as a whole however the reality is it will be the properties that no one wants to buy that will plummet further but a property who would want to buy has very much hit the bottom and if your looking to buy and don’t buy in 2010 you will probably end up regretting it for the rest of your life.

The other thing the International property buyer finds hard to comprehend which is also a very simple to understand is that he cant have a new property near the beach and certainly not at the price of the properties say 5KM away from the beach. Prime location and the best areas being built first obviously spring to mind and I will leave the rest for you to work out.

If you would like to take advantage of the Costa del Sol property market in 2010 then please contact us at Spanish Hot Properties and we will be only too pleased to help.

Spanish Bank Repossessions & distressed Property in Spain, Costa del Sol & Costa Blanca

2009-10-27T13:46:00.000-07:00

So what is best a Spanish bank repossession or a distressed sale from a motivated seller? Well the short answer is they both represent great value in the current market as long as choose an agent that has the correct contacts but most importantly has the professional expertise in this market place to help Investors and property buyers buy the right property in Spain at the right price so says Nick Stuart Managing Director of Spanish property experts Spanish Hot Properties. “It’s so obvious but it’s so important to get things done right and explore all your options especially with our UK Clients who have to deal with the Sterling exchange rate but also can buy property in Spain at 50% of 2007 prices. Recently we have been exploring the benefits of our cash buyers taking the 90% subrogation mortgages on offer with a view to them paying the mortgage off after the UK general election when those clients believe that the Sterling exchange rate will be more beneficial than it currently is now. However the most important thing is that you have the best deals ever and you certainly get that at Spanish Hot Properties” explained Nick

Massive Discounts for Serious buyers only including exclusive Spanish bank property repossessions here in Spain

Spanish Hot Properties have always had excellent contacts with the banks and Spanish Real Estate industry and right now have the best selection of Bank repossessions and distressed Sales in Spain

Finally a Property Company that Only Offers Hugely Reduced Villas, Apartments & Investment Properties for those looking to take advantage of the credit crunch in Spain

Spanish Hot Properties only deals in the best properties with the best developers and vendors who really are prepared to sell and do what it takes to sell there property.

Where The Owners Desperately Need To Sell Quickly In Spain Plus a List of Distressed Property Sales from private sellers who urgently need to sell AT UP TO HALF PRICE!
Just contact Spanish Hot Properties to find out more about these fantastic opportunities and how they might help you.

If you would like more information about Spanish Hot Properties and Spanish property repossessions please contact Spanish Hot Properties

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Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana
WE NOW ALSO HAVE A UK OFFICE
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Costa Blanca property Value

2009-10-11T06:16:00.000-07:00

Costa Blanca property is Costa blanca south is currently offering the best priced property in all the costas where you can buy something very nice to livin for under €100,000 which considering how close you are to the sea it is almost impossible to beat.

Were seeing more enquiries than ever for Costa Blanca however it is hard to explain to some clients that Spanih property in Javea & Moraira just isnt cheap and doesnt represent anywhere near the value as in the south. This is due to a number of factors but the major one being that there just isnt the same oversupply that you get around Cabo Roig to Alicante.

We also see Costa Blanca south representing value for some time to come but like everything eventually the excess stock will go from the market and prices will increase

If you want any inforation about Costa Blanca property please contact Spanish Hot Properties.

Foreign Currency Exchange Rates

2009-07-22T11:14:00.000-07:00

Susana Suspenda the legendry marketing and exchange rate analyst of Spanish Hot Properties analyses the currency trends of the past 18 months and what the future holds for the Sterling Euro exchange rate.

Important Levels/Ranges GBP/€ During 2008.

January 2008 - March 2008 GBP/€ rate range 1.3600 – 1.3000
March 2008 – Nov 1.3000 – 1.2200.
November 2008 – Year end GBP/€ rate range of 1.27 – 1.02.
New Year GBP/€ rate range Low recorded on 1st Jan 1.0280 High so far 1.13 recorded on the 9th Jan 2009. Currently the rate is floating around €1.16 and has nearly touched €1.20

The British Pound has had to endure an absolutely torrid time through the whole of 2008. Having opened the year at €1.3600 to the Pound we had to wait until March 2008 for the rate to break through the 1.3000 level. Once through we remained within a trading range of high 1.2900’s to lows of 1.2200 right up until November 2008. From the month of November onwards we saw a far more aggressive movement in the decline of the Pound. Having broken through the 1.2000 level the pound plunged toward parity with this move stopping just shy at 1.0200 on the 30th Dec 2008.

The Pound recorded an overall decline of 23% against the € during 2008.

Having started 2008 with the disruptions to both global and credit markets well documented it was expected that UK output growth would moderate during the course of the year. Consumer spending began to fall and the climate for investment deteriorated. The market for securitised debt remained virtually closed by now. The Bank of England’s Monetary Policy Committee’s role was to ensure that inflation was kept in check which meant that UK interest rates were not reduced in line with those in the United States.
Against this background, UK banks tightened the terms offered on new loans to households and businesses which further compounded the declines in the UK housing market prices. With new mortgage lending falling to the lowest levels since records began the housing market in the UK has all but come to a halt. Overall house price decline were recorded just shy of 16% year on year.
During September 2008 we saw the collapse of Lehman’s, one of the largest American Investment banks, with the US Federal Reserve deciding not to help it having already assisted other financial institutions. The panic caused by the demise of Lehman’s meant that all global banks refused to lend to one another as there was a total fear of which bank would be next to fail. Overnight borrowing rates rose dramatically and many central banks had to offer support as the lender of last resort to banking institutions as many were unable to raise funds on the international money markets.
When GDP (Gross Domestics Product) fell into negative territory during the autumn of 2008 it became absolutely apparent that the UK’s ability to steer clear of recession was not possible.
Rising unemployment across all sectors and a total lack of confidence recorded within both the Services and Manufacturing arena’s reinforced the markets desire to sell any Sterling based assets and to switch to other denominated investments. There had already been a flight to quality namely United States Treasury Bonds and also into the € with the perception of it now being considered a reserve currency.
The months of November and December were not a time for cheer for the Great British Pound. Having started November close to 1.27 against the €euro it came within a whisker of parity on the 30th Dec when it fell to just above 1.02. This fall was not helped by the continual talk of a run on the pound and talk from the Confederation of British Industry forecasting that the UK economy will contract the most it has done in almost three decades.

With the Bank of England having been exceptionally aggressive in cutting the base rate by 2.5% since November and with rates at an historical low of just 2% there was little interest for investors to hold onto the Pound. Instead the € was a major benefactor as their own reduction of interest rates had been far slower and measured with Jean-Claude Trichet, the European Central Bank President even commenting that he did not want to be trapped with borrowing costs too low. This in fact fuelled the markets to buy €’s as it was perceived that they may therefore hold their rates a 2.5% for the foreseeable future. With mortgage approvals falling to record lows in the UK, coupled with plunging inflation numbers, rising unemployment and falling manufacturing it appeared that the UK economy was in a far worse position to cope with the ever worsening global recession.

How things have changed since the start of the New Year.

Having failed to achieve parity we have seen a major correction with the pound posting its biggest weekly gain since the common currency’s debut in 1999, as the Bank of England slowed the pace of interest-rate cuts. The GBP/€ rate rose to GBP/€ 1.13 as the markets have had time to consider the most recent economic data which has confirmed the Euro zone slump is far worse than previously expected. The Euro zone’s services and manufacturing sectors shrank by the most in at least a decade and consumer confidence is now the weakest on record. Also with Europe’s rate of inflation falling below the target rate of 2% there appears little reason for their rates to be held at the current level of 2.5%. The fact that they have been slow in implementing cuts previously will likely mean that they will have to compensate for more aggressive cuts in the future to help aid any recovery.

We have already seen the Bank of England’s Monetary Policy Committee reduce the base rate again by 0.5% to 1.5% on the 8th of Jan, its lowest level ever since the Bank of England was created in 1694. As this cut was universally expected Sterling did not suffer as it had previously. The focus now will be whether the ECB will cut or not later this week. Bundesbank (German Central Bank) President Axel Weber stated that the German economy, the euro region’s largest, may contract this year by more than the European Central Bank has forecast. It is expected that the ECB will lower its main rate by 0.5 percentage point to 2 percent on Jan. 15th.

At the time of writing this article the €1.15.49 Expect the Sterling rate to hold these levels for the moment, obviously time will tell if the rate breaks he magic €1.20 mark

As for the future history has thought us that whenever sterling has fallen through a floor it has never recovered and €1.70 in 2002 to currently levels is a considerable drop over a period of time. Will it ever get back to €1.36 only time will tell but history tells us it won’t.

For someone looking to buy a property in Spain at this moment they should seek guidance from a currency broker to help time their transactions to try to take advantage of any possible improvements of rate. Also the ability to lock in a rate of exchange for a future delivery date is possible and certainly helps clients to appreciate their known costs.

For those who need to make either mortgage payments or regular transfers from the UK for living expenses there are other tools available to minimise the effect of the weaker Pound as much as possible. Many brokers offer Regular Payment Plans which allow you to fix a rate of exchange for monthly transfers with very low monthly transfer costs. This would mean the Sterling cost of your monthly mortgage payments can be fixed, or that the number of Euros your pension/income buys will be consistent. If you want to leave the rate variable while the rates are low and then look to fix it when the Pound is a little stronger that is also possible.

For any currency, and whether buying or selling, a currency broker can provide the tools that allow anyone to take advantage of favourable rates. They can offer more detailed guidance on the outlook for the exchange rates, and to keep you updated as the outlook changes as well as notifying you when a particular price is reached.

For any further information about the issues raised in this article contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/currency.php

Gran Canaria property Market

2009-07-16T10:38:00.000-07:00

Gran Canaria property like the majority of Spain has suffered during the current Crisis but you only have to look at the island of Gran Canaria itself to know that things will improve and like most of the world right now there are opportunities for those who want to take them according to the Spanish property experts Spanish Hot Properties.

The first thing you have to understand what Makes Gran Canaria Special. Gran Canaria is an island of the Canary Islands located in the Atlantic Ocean 210 km from the northwest coast of Africa. Gran Canaria is located southeast of Tenerife and west of Fuerteventura. The island is of volcanic origin,. Gran Canaria is the second most populated island of the Canary Islands after Tenerife Gran Canaria surface area is 1,560 km² and its maximum altitude is 1,949 meters Pico de Las Nieves. It has a round shape, with a diameter of approximately 50 km. Grand Canaria is know as the Small Continent because of its extremely varied landscapes with European, African and even American vegetation. The mountain range in the island's center, of a height of about 2000 meters, is cut by some bizarre canyons. Hardly anywhere else can you find such different landscapes and even climatical zones being geographically that close one to each other: mountain massives, desert land, tropical forests. Along the seaside there are wide beaches of sand, and while elsewhere people are shuddering of cold, here the tourists are lying in the sun and looking at those mountain peaks being covered with snow. Gran Canaria has a lot to offer the tourist. The south is the most popular containing such delights as Puerto de Mogán (a picturesque village also known as Little Venice), Puerto Rico, Maspalomas and the famous Playa del Ingles. But with its spectacular views and landscapes, make sure you don't miss the rugged west coast and islands interior. Most visitors to Gran Canaria stay in one of the resorts along the South coast. The most important of these are San Agustin, Playa del Ingles, Maspalomas and Puerto Rico. Puerto de Mogan, now expanding, is a very chic resort where many people spend a day visiting. The capital city of Las Palmas is a high spot for tourists for a day shopping, architecture or lazing on its Las Canteras beach. From here you can get a bus to just about anywhere on the Island and therefore makes a good base. Gran Canarias’s west coast is rugged and beautiful and only just touched by tourism as it is a National Park Area. The famous sand dunes of Maspalomas appear to have come straight out of Lawrence of Arabia. The natural sand of the Canary Islands is black made from the volcanic rocks of the area. The sand dunes of Maspalomas are of golden sand that has blown over the sea from the Sahara desert Gran Canaria is truly one continent n one visit Which also makes it an ideal international property market well that’s the views of Susana Suspenda Marketing and operations manager for Spanish Hot Properties.

So besides the climate and location what else does the Gran property market have to offer prospective property purchases on the Island. “Well as the Island has everything the same goes for the property market where you can buy a studio in Puerto Rico for under €70,000 or spend a million Euros plus on a luxury Villa and because the island is so diverse you can choose the lifestyle that suits you best Gran Canaria really does have something for everyone and with the current property prices it s most definitely worth a further look Explained Susana.

Anyone wishing to find more about the current state of the Gran Canaria property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website:
http://www.spanishhotproperties.com/Spain/Canary_Islands/Gran_Canaria/1/index.htm

Fuerteventura Property Overview from Spanish Hot Properties July 2009

2009-07-16T10:37:00.000-07:00

Fuerteventura property like the majority of Spain has suffered during the current Crisis but you only have to look at the island of Fuerteventura itself to know that things will improve and like most of the world right now there are opportunities for those who want to take them according to the Spanish property experts Spanish Hot Properties.

The first thing you have to understand what Makes Fuerteventura Special. Only a narrow channel separates Fuerteventura from the African continent. Fuerteventura is the oldest Canary Island, and was formed about 70 million years ago as a result of volcanic activity. Fuerteventura's modern landscape is a result of the weathering of the original landscape that was created by the volcanoes. Though you will not find an active Fuerteventura volcano, there is abundant evidence of their presence in the topology of the island. Fuerteventura is the most easterly of the Canary Islands and is only 60 miles from the coast of Morocco. The geographical position of Fuerteventura means that for many tens of thousands of years sand from the Sahara has been deposited on Fuerteventura's shores. The result of this process is 125 miles of some of the world's best beaches. With three thousand hours of sunshine a year, Fuerteventura is the closest Canary Island to the African coast with only 100km separating the 'Punta de la Entallada' from Cape Juby in Morocco and is the second largest (after Tenerife) of all the islands. The weather conditions of Fuerteventura are very similar to Florida and Mexico which are on the same latitude, which make this the ideal holiday location. There is nowhere else in the Canaries with as many enormous sand dunes and long sandy beaches (more than one hundred and fifty). Even though most of the land consists of stone and rock, these are some of the most impressive beaches in the whole of Europe. Approx 98km long and 30km across at the widest point. In the history of time Fuerteventura is generally regarded as the oldest of all the Canaries and its strange contours come from various volcanic episodes. The last eruption occurred around 7,000 years ago so you're pretty safe. Should you wish to see some volcanic activity take a trip to the neighboring island of Lanzarote, its well worth it.. You can also take a short boat trip over to the small island of Los Lobos (only 6sqkm) and really get away from it all. Water sports are very popular in Fuerteventura. Every year hundreds of surfer’s windsurfers and divers descend on Fuerteventura and during July the island is host to the P.W.A world windsurfing speed and slalom event at Sotavento in the south.. Its miles and miles of broad sandy beaches and golden sand dunes make Fuerteventura the ideal resort for everyone which also makes it an ideal international property market well that’s the views of Susana Suspenda Marketing and operations manager for Spanish Hot Properties.

So besides the climate and location what else does the Fuerteventura property market have to offer prospective property purchases on the Island. “Well as the Island has everything the same goes for the property market where you can buy a one bedroom apartment in Corralejo for under €80,000 or spend up to €750,000 Euros on a luxury Villa and because the island is so diverse you can choose the lifestyle that suits you best Fuerteventura really does have something for everyone and with the current property prices it s most definitely worth a further look Explained Susana.

Anyone wishing to find more about the current state of the Fuerteventura property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Canary_Islands/Fuerteventura/1/index.htm

Fuengirola property Market July 2009

2009-07-16T10:31:00.000-07:00

2009 has been really interesting year so far for the Spanish property market the Fuengirola property market has been no different. In an area of huge over building and very low prices Fuengirola still has an attraction all of it own according to Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The first thing you have to understand about the Fuengirola property market is the area itself. Fuengirola sits conveniently between the two super resorts of the Costa del Sol, Marbella and Torremolinos, within easy reach of their respective amenities. In terms of development (high-rise accommodations and dozens of touristy bars and shops) it has more in common with the latter, though it is nowhere near as noisy or brash, and much of the adjoining quarter of Los Boliches is, by Costa del Sol standards, unspoiled. Most holidaymakers come to Fuengirola for its long stretch of fine golden beaches. After having started its life as a fishing village and coastal stronghold, Fuengirola is becoming one of the most popular international destinations on Spain's famous Costa del Sol. With about 320 days of sunshine a year, a rich and interesting history, and plenty to see and do, people from all over the world are flocking to the town of Fuengirola and its suburbs. They soak in the sun, swim, and enjoy a relaxed vacation. Or, sometimes, a relaxed new lifestyle. Because many visitors to Fuengirola love it so much that they decide to buy a piece of Fuengirola property and... Stick around. And you really can't blame them. Once you've lain down on one of Fuengirola's sandy beaches, it's hard to imagine not wanting to stay. Today, of the 60,000 or so people currently registered as living in Fuengirola, a full 25% of them are expatriates from other countries-- people who came for a visit and decided to make a life here. Most of them are from European countries, with the bulk coming from the UK and Finland. There is such a large and rich international community there that there are many local programs, groups and activities geared towards expats-- especially English, Irish, and Scottish ones. Foreigners living in Fuengirola get the best of both worlds: gorgeous Spanish weather, a rich local culture, and a feeling of fitting in and having all the amenities of home. Even for people from the UK and other places in Europe with families, it's not difficult to get the same education for your children they received at home. While there are relatively few private schools in Fuengirola itself, there are many high-quality private (and state) schools just a short distance from town. Many of these schools offer an award-winning British curriculum, and the children attending are instructed in a bilingual environment. One of the most famous places in Fuengirola is the Paseo Maritimo, the beautiful long promenade running along the beach. With seven kilometers of sandy beach in Fuengirola, the promenade is one of the longest in Spain. To make it even more appealing, the local council has recently initiated a program to renovate the entire area, widening the promenade, planting trees and flowers, and creating plenty of appealing places to sit and enjoy the area. This program is running throughout Fuengirola, and the entire town has rally benefited. A very big reason why people from all over move to Fuengirola is because there is so much to do there. Unlike some of the smaller, out-of-the-way towns currently trying to attract more foreign residents, Fuengirola is a cosmopolitan city which can cater to any taste, no matter the nationality. For those living in Fuengirola with a family, there are water parks ,Fuengirola Zoo, plenty of gorgeous beaches and of course, shopping at the miramar fuengirola shopping center. And for those relaxing or retiring in Fuengirola, there are golf courses, wonderful international restaurants, and a large and welcoming community of both Spaniards and expatriates. Fuengirola is most defo worth a closer look.” Explained Susana.

So what is the property market in Fuengirola like and are there any real property bargains to be had. “well if you asked me two weeks ago we had the best ever deal of 30 Apartment in El Coto a suburb of Fuengirola for an amazing price of €115,000 which were all sold very quickly but in reality its very hard to buy anything decent in Fuengirola for under €180,000 which made that deal just too good and some of our clients who were far too slow lost out.” explained Susana..

Anyone wishing to find more about the current state of the Fuengirola property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/Fuengirola/1/index.htm

Ibiza Property Overview from Spanish Hot Properties July 2009

2009-07-15T12:41:00.000-07:00

Ibiza property like the majority of Spain has suffered during the current Crisis however not to the same degree as the Costas of Spain. Even though prices have fallen you only have to look at the Island itself to know that things will improve and like most of the world right now there are opportunities for those who want to take them according to the Spanish property experts Spanish Hot Properties.

The first thing you have to understand what Makes Ibiza Special. The Island of Ibiza is a popular destination for both holidays and those in search of a new home. Magnificent weather, Ibiza boasts some of the cleanest, most picturesque beaches in the Mediterranean. With a large number claiming the EEC Blue Flag you will find beaches with the perfect combination; warm weather, blue skies and soft sand. Not only are the beaches packed with water sports, the Islands Mountains, full of tropical plants, trees and wild life, offer a great day out too. From horse riding to hiking or biking, the opportunities to explore are endless. There is something for everybody amongst Ibiza’s famous clubs, exclusive bars and extensive range of restaurants. With people from every walk of life, the Island both caters for and welcomes all kinds! Ibiza Island is situated in the Balearic archipel. This is the third island in term of surface after Mallorca and Minorca. Ibiza surface is 543 22 km² with 209 km of coastline. The population of the island is 77 000 inhabitants. Well known for it night activities, Ibiza is also a wonderful island, with emeralds beaches, and an always blue sky (more than 305 days of sunshine per year). The story of Ibiza begins in 1600 years before Jesus Christ, although it is not chronologically referenced before the year 654 when Carthage create Ibosim, today named Eivissa, capital of the Island. It is Diodoro Siculo who supplies us the first text reference about the island: "... Having been named Sardinia first, the island was called Pitiusa, due to the number of pines on it..." After the Carthaginian time comes the Roman domination. During this period Ibiza carries the title of Confederate City. The next five centuries are called dark centuries due to the information left. The island was controlled by the Barbarians and the Byzantine until the year 711 when Arabic land on the Island and call it Yebisah. The historic date for the island is August 8th 1235, date of the Catalan conquest. At this moment the islands of Ibiza and Formentera join the western world. Note that during centuries Ibiza was a meeting point for the Saracen vessels which ravaged the Mediterranean Sea, protected by the Turkish squadron. It is during these times that the towers which surround the island and the aspect of fortress of the rural churches were built. Today, the Island of Ibiza is divided into five provinces: Eivissa the capital; Santa Eulària, Sant Antoni, Saint Joan and Sant. Josep. Well enough of the history lesson but from the description of the Island you can see that it has something special about it reckons Susana Suspenda Marketing and operations manager of Spanish Hot Properties.

So besides the climate and location what else does the Ibiza property market have to offer prospective property purchases on the Island. “Well as the Island has everything the same goes for the property market where you can buy a studio for under €90,000 or spend well over a million Euros plus on a luxury Villa and because the island is so diverse you can choose the lifestyle that suits you best. Another important factor is unlike the Costas of Spain and due to the forward thinking policies of the Balearic Islands and Ibiza planning you do not have the over building and over supply seen in other parts of Spain Ibiza really does have something for everyone and with the current property prices it s most definitely worth a further look Explained Susana.

Anyone wishing to find more about the current state of the Ibiza property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Balearic_Islands/Ibiza/1/index.htm

Tenerife Property Overview from Spanish Hot Properties July 2009

2009-07-15T12:40:00.000-07:00

Tenerife property like the majority of Spain has suffered during the current Crisis but you only have to look at the Island itself to know that things will improve and like most of the world right now there are opportunities for those who want to take them according to the Spanish property experts Spanish Hot Properties.

The first thing you have to understand what Makes Tenerife Special. Tenerife is the largest of the Canary Islands, and also of volcanic origins. It is dominated by the 3718 meters high volcano Mount Teide with its mighty crater. The Teide is not only the highest mountain of all Spain, but also the mountain with the highest elevation in all the Atlantic Ocean. Tenerife's coastline is typically rugged and steep, however there are as well almost 70 kilometers of fine sand beaches, in particular in the islands' south, with Playa de las Americas and Los Cristianos among the best known.Santa Cruz de Tenerife is the capital of the island and the head of the island council (cabildo insular). It is the second largest city in the Canary Islands after Las Palmas de Gran Canaria, and is capital of the autonomous community of the Canary Islands alongside that city, sharing governmental institutions such as Presidency, Parliament and ministries. The island is home to La Laguna University, which was founded in 1792. La Laguna is the second city of the island and the third one of the archipelago. El Teide is a World Heritage Site. Tenerife is probably one of the last European paradise isles. "Fascinating" is the word for this island. It offers lush forests, exotic fauna and flora, deserts, mountains, volcanos, sometimes snow, incredibly beautiful coastlines and spectacular beaches. Tenerife is often called a paradise island and for good reason! The island experiences sunshine around the year has an abundance of world class hotels and offers an exceptional choice of cuisine set against the stunning background of Mount Teide..The Canary Island of Tenerife is the perfect year round destination. Which also makes it an ideal international property market well that’s the views of Susana Suspenda Marketing and operations manager for Spanish Hot Properties.

So besides the climate and location what else does the Tenerife property market have to offer prospective property purchases on the Island. “Well as the Island has everything the same goes for the property market where you can buy a studio in Las Playas De la Americas for under €90,000 or spend a million Euros plus on a luxury Villa and because the island is so diverse you can choose the lifestyle that suits you best Tenerife really does have something for everyone and with the current property prices it s most definitely worth a further look Explained Susana.

Anyone wishing to find more about the current state of the Tenerife property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Canary_Islands/Tenerife/1/index.htm

Spanish Property in Nerja Overview from Spanish Hot Properties July 2009

2009-07-15T12:39:00.000-07:00

2009 has been really interesting year so far for the Spanish property market the Nerja property market has been no different. However Nerja and Eastern Costa del Sol has some major factors that separate it from the rest of Costa del Sol with the major factor that the area hasn’t been over built to the levels that have occurred on the Costa del Sol to the west of Malaga according to Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The first thing you have to understand about the Nerja property market is the area itself. Eastern Costa del Sol is a great place to get away from the busy beaches further west, but it's also a great tourist destination all its own-- the resort town of Nerja is located here, with 16 kilometers of white-sand beaches and sparkling waters. Once a small fishing village, Nerja has maintained a lot of its original character, though the town is constantly growing. The center of town, in fact, remains remarkably unchanged. Full of whitewashed homes with geranium-lined windows, the narrow streets of Nerja still feel like the fishing village it once was. Despite the undeniable charm of the city center, the city's most remarkable feature is its famous Balcon de Europa Balcony of Europe, a wide avenue that runs along a towering cliff. . Nerja is on the seashore some 50 kilometers from Malaga on the N340 coastal highway, and marks the eastern tip of Malaga's Costa del Sol. Once a sleepy fishing village, the town now has a population of over 12,000. Flanked by a dramatic mountain range, Sierra Almijara, to the east, the town has, fortunately, managed to avoid being blighted by the concrete high-rise scenario which has been the inevitable result of the tourist boom in some of the coastal resorts. The old quarter of the town is still virtually unchanged with narrow, winding streets, whitewashed houses with wrought iron terraces overflowing with geraniums, on which a canary can sometimes be heard singing... However, the heart of Nerja is its spectacular Balcon de Europa, the "Balcony of Europe", a magnificent promenade along the edge of a towering cliff, once the site of the great Moorish castle, with sweeping panoramic views of the Mediterranean and the small coves and beaches below, against an awesome backdrop of hazy Blue Mountains. There are plenty of restaurants and cafes here to choose from, and the visitor can hire a horse-drawn carriage to explore the most romantic corner of the town. The town's monuments include the 17th century Church of El Salvador, in a style which is a charming mixture of baroque and Moorish, or mudajar, and the beautiful Gardens of Capistrano Playa, which descend to Burriana Beach. However, Nerja's most spectacular attraction is undoubtedly its fascinating caves, located just three kilometers from the centre of town. They include archaeological treasures such as paintings over 20,000 years old and other pre-historic remains. One of the enormous natural caverns has been transformed into a concert hall, where many performances are staged during the summer. This year Nerja is celebrating the 38th International Cave Festival, with the participation of many top international entertainers. This is why Nerja has such an interest for property buyers who fancy something a little quieter. The property in Nerja itself is close to most amenities and another attraction to would be purchasers. However those looking for a Spanish property bargain may not find it in Nerja and you will need a budget of at least €150,000 to find a good property” explained Susana

Anyone wishing to find more about the current state of the Nerja property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/Nerja/1/index.htm

Andalucía Property Market report July 2009 from Spanish Hot Properties

2009-07-13T12:19:00.000-07:00

Spanish property in 2009 has been really interesting especially the Andalucía property market which has seen quite a horrendous year as a whole with a few bright spot in certain areas of Costa del Sol but overall things can only really start to get better for the Andalucía property market according to Spanish Hot Properties Managing Director Nick Stuart.

As Nick explains “the first thing about the Andalucía property market is the fact it’s so big and so diverse and in reality you have 6 markets in one. You have the four Costas of Costa de la Luz, Costa del Sol, Costa Tropical and Costa Almeria all very different in their own ways and all with different types of problems. You then have Andalucía Inland and the Andalucía countryside know as El Campo and Finally you have The major Cities of Andalucía such as Sevilla, Granada, Malaga, Cordoba, Jaen and Almeria which is in the main totally Spanish. Then you just have to imagine the actual size of Andalucía where the actual Coastline at Vera in Almeria to Huelva is over 500 Kilometers in distance and going inland from Marbella to Jaen is some 280 Kilometers. Then for people who know the diversity of the Andalucía and why it is one the greatest places on the planet it is easier to understand the huge diversity of the type of property you can buy and more importantly the type of lifestyle you can have in Andalucía. When looking at the Andalucía property market I think the most important fact to bear in mind is whilst property prices may have crashed the cost of construction hasn’t and at best it has stayed level. In reality this means you can buy certain properties for a price you could never build for today and that is what makes the Andalucía property market very interesting. To try and make understanding the market a little easier I have broken it down into 3 main areas.

Andalucía Inland property

This is rural Andalucía at its finest where you have quaint typical Spanish white villages known as pueblos blancos and country properties such as Fincas and Cortijos set in large amount of rustic land. Now this type of property has a huge Be Careful sign attached to it a large amount of these properties have been illegally built and have demolition orders on them or could have in the future. However if you have a good Lawyer you shouldn’t need to worry but certainly look to buy this type of property from a reputable agent and not direct from a vendor. If you try and cut corners in the Campo you will normally get badly burnt. As for property prices with the exception of the few desperate International sellers the property market has held it value pretty well due to it being mainly a local Spanish market and if your looking for value for money from an investment point of view you would probably be better buying on the Costas. The buyers in this area tend to want something around the €100,000 Euros mark or are looking a country way of life.

Sevilla and the Andalucía Cities

Prime location is everything and again city centre prices have held up very well indeed especially in Sevilla and Malaga. Again this market is dominated by the local Spanish who don’t need to sell. The real value is the older properties that were built some time ago with the building costs associated of that time. Also when you head out towards the suburbs you tend to get better value with the local distressed sales market.

The 4 Costas

Costa de La Luz and Costa Almeria have probably suffered more than any of the Costas mainly due to the fact that they are the newest markets and a lot of people bought in those Costas because they couldn’t afford to buy in Costa del Sol and we all know that has changed round and they are having a very tough time of it and people who buy there now buy for low price and a different more sedate lifestyle but not for value. However you can buy a nice apartment in these Costas for about €120,000 Euros. Costa Tropical is holding up very well in relative terms with the luxurious Villas in the La Herradura and Marina del Este region holding up very well. The market is made up of Rich International types, a local Market and Granada citizens having second homes. It’s very quiet and peaceful and is one of the unknown Jewels of the Andalucía Coast. Finally we come to where all the action is in Costa del Sol due to the huge oversupply of property now matched with huge discounts and lots of bank repossessions and distressed sales Costa del Sol probably represents the best value in all of Spain where you can buy property for less than you can build it for and is very much where the value and activity is for Spanish Hot Properties customers.

Andalucía is a great place to live and right now it’s a very interesting property market”.

Anyone wishing to find more about the current state of the Andalucía property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/1/index.htm

Mijas Costa Property Market Report July 2009 from Spanish Hot Properties

2009-07-13T11:56:00.000-07:00

2009 has been really interesting year so far for the Spanish property market the Mijas Costa property market has been no different. In an area of huge over building and very low prices certain areas of Mijas Costa offer incredible value with some apartments as low as €130,000 Euros according to Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The first thing you have to understand about the Mijas Costa property market is the area itself. The municipal area of Mijas covers almost 140 square kilometers, extending from the mountains down to the sea surrounding the municipality of Fuengirola. The Urban áreas of Mijas are Mijas Pueblo, Las Lagunas, La Cala de Mijas and Mijas Costa. The pueblo is slightly inland and known as the White Village situated at the foothills of the Cordón Montañoso del Litoral with historic buildings, museums and traditional bars and restaurants. Las Lagunas, La Cala de Mijas and Mijas Costa are the newer parts where most of the services and new housing developments are situated The Fuengirola River flows through the centre of the municipality, where there are large agricultural areas, seven golf courses and luxury housing estates. Since the pueblo village was discovered in the sixties, over fifty nationalities have made it their home and the impact can be appreciated with the international cuisine, cosmopolitan clubs and influence of foreign culture and the arts. Mijas Costa is highly developed for tourism, but retains some its historical attractions with the four centuries-old Vigilance Towers of Calaburras, Torre Vieja, Torre Nueva (built in the 19th century) and the Torre de Calahonda which was built in the 16th century.
If you drive along the old road that unites Mijas with Benalmadena you will pass the large lookout point opening to the sea, hidden amidst pines, ornamental plants and summer houses along the coastline. Besides the numerous international restaurants, there are local eateries which serve traditional Andalucian cuisine, and the diversity of shops in Mijas make it an ideal place to buy all types of articles and local crafts and souvenirs from the Costa del Sol which range from locally produced honeys to intricate silverwork to basket weaving. In reality the majority of property in Mijas Costa is based around four towns Calalhonda, Riviera, El Faro and the jewel in the crown La Cala de Mijas which is about 20% more expensive than the rest of the costal towns in Mijas Costa. This is where some of the best value is in Costa del Sol and you can find excellent quality property starting at €140,000 Euros and even some Villas starting at €325,000. Also for people who come to live here full time the cost of living is much less than close by Marbella.

Anyone wishing to find more about the current state of the Mijas Costa property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

Spanish Property in Estepona Review from Spanish Hot Properties July 2009

2009-07-13T05:34:00.000-07:00

Estepona property and property in the new Golden Mile area of Costa del Sol is some of the finest on the coast and some of the most stunning but however it is also where certain developers and property owners are completely out of touch with reality and some developers still wanting to achieve over €600,000 Euros for an apartment which is sheer madness well that is the view of Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The actual area of Estepona to the New Golden Mile is quite long and within this area you have Area such as Sun Beach, Laguna Village, Dominion Beach, El Paraiso, Monte Mayor, Cancelada, Selwo and the wonderful Los Flamingos Golf Resort and Estepona Itself. There are some wonderful developments such as El Camapanario which represent the highest luxury quality homes you can possibly imagine. However El Campanario was partly developed by Occidental who is incredibly rich beyond anyone’s imagination and has no intention of selling below cost price if they can help it. The good news for recent buyers is that the partner on the development would like to sell and inject some realism into the price structure but safe to say El Campanario is very much a lifestyle choice and not one driven by price or cost. Occidental also have a similar development in Belamadena which start at €300.000 which is completely mind blowing if you know the average price of Belamadena but the developer will sit on the units for 10 years if necessary and in reality this is the situation with most of the up market developments on the New Golden Mile and Estepona. Explained Susana

So what is the situation for those wanting to buy in this area are there any real bargains to be had and is reality ever going to set in on this lovely piece of Costa del Sol Coastline? Well according to Susana there are a few Gems that can be found but most importantly a soon to be launched offer from Spanish Hot Properties that is simply the best ever to date in this area. Susana explains “like everything if you look hard enough you will find what you’re looking for and for example we have a brand new unit is Los Flamingos Golf at €350,000 where some developers are still trying to achieve over €600,000 and then we have a wonderful Townhouse on Dominion Beach itself at €330,000 so they are about. However the real deal will be launched nest week where we have units that were €400,000 that we have managed to obtain for €200,000 for our clients. However we only have 30 units and it will be very much on a first come first serve basis”.

Anyone wishing to find more about the current state of the Estepona property market or information in general about Spanish property should contact Spanish Hot Properties

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website:
http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/Estepona/1/index.htm

Spanish Property in La Cala de Mijas Overview from Spanish Hot Properties July 2009

2009-07-13T05:32:00.000-07:00

2009 has been really interesting year so far for the Spanish property market the La Cala de Mijas property market has been no different. In an area of huge over building and very low prices La Cala de Mijas stands out as an Oasis in Mijas Costa as prices have held their value extremely well and compared to the prices of Calahonda and Miraflores it’s hard to believe La Cala de Mijas in only 5 minutes away and there is no sign of “La Cala” losing its magic in the near future according to Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The first thing you have to understand about the La Cala de Mijas property market is the area itself Although La Cala de Mijas has maintained a level of real authentic Spanish charm, it has in some ways also taken on the feel of being quite international and cosmopolitan with many nationalities living side by side. La Cala de Mijas, often just referred to as La Cala, is a beautiful Spanish village, right at the heart of Mijas Costa, which has effortlessly stepped into the 21st century without losing any of its traditional fishing village charm. It has a lively, bustling town centre with a twice-weekly market, supermarkets, bars, restaurants and every amenity you could ever wish for. It’s perennially popular with increasing numbers of holidaymakers and is home to foreign residents from a range of different countries, including the UK and many other European countries. La Cala de Mijas is in a perfect position to enjoy an enormous range of leisure facilities. Active retirees particularly love the area for its great combination of easy-going traditional Spanish charm and the wide selection of sporting activities in and around La Cala. The area is famous for its wealth of competition standard golf courses, including the magnificent La Cala Hotel and Golf Course Resort which is the biggest golf complex in Spain and has three of its own courses. La Cala Resort also has a luxury golf hotel, an exclusive spa. In the hills just behind La Cala you can enjoy horse riding. Although if you simply enjoy a night of family entertainment watching the horses why not try the "Hipodromo del Costa del Sol", which is situated just on the outskirts of La Cala village. One of the reasons that La Cala de Mijas is so popular is its versatility. Choose from beautiful, tranquil countryside, exquisite beaches or cosmopolitan towns, some within walking distance, most just a short drive away. There’s excellent road and public transport access from La Cala to all other parts of Mijas Costa and it’s just five minutes drive from cosmopolitan Fuengirola with its medieval castle, Blue Flag beaches and stylish shopping. A 10-minute drive into the hills behind La Cala takes you into some of the most picturesque countryside in the area where there are a variety of stables offering riding lessons and trekking, so that you can enjoy an invigorating canter in breathtaking surroundings. All of this is truly wonderful and explains a lot about the area and why people want to be in La Cala but why not just choose nearby Miraflores or Calahonda, well the answer to that question is the village of La Cala hasn’t been overbuilt like the rest of Mijas Costa and you can walk to the Village and Beach and just generally has a relaxed feeling that you don’t get in such areas like Miraflores and La Cala and this is reflected in the property prices where a 3 bedroom apartment can be as much as €75,000 Euros more than nearby towns” Explained Susana.

So why the price differentials between La Cala and the other surrounding towns and Villages. Well in reality it’s about La Cala not being overbuilt the way the other towns are and the fact that La Cala in unique.

Anyone wishing to find more about the current state of the La Cala de Mijas property market or require information about Spanish property should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/La_Cala_De_Mijas/1/index.htm

Costa Almeria Property Crisis Overview from Spanish Hot Properties

2009-07-11T09:00:00.000-07:00

Spanish property in Costa Almeria has probably struggled more in recent times than any other Costa in southern Spain bar Costa de la Luz and right now you can buy property in Costa Almeria for €100.000 and some very good property from €120,000 Euros with very little sign of buyers and considering that Costa Almeria gets more sunshine per year than any other Costa in Spain it is quite hard to understand why the market is in such deep crisis.

So why this case well Nick Stuart managing director of Spanish Hot Properties is explains “First you have to understand the Almeria property market and how it came to be and then the outside factors that have led to the current situation. Costa Almeria as an international property market is relatively young and was put on the map primarily by Desert Springs Golf resort where to use Sir Ian Bonham’s words “When I wanted to buy a place in Spain Desert Springs was the only choice” and other major sports stars love the place but that’s one property development and one golf course and hardly going to sustain a whole property market but at least it put Costa Almeria on the market. However the real driving force for the property market in Costa Almeria was price with major Costa del Sol agents (so major they have now gone bust) opened offices in the region because people just couldn’t afford to live in Costa del Sol and looked either Go inland from Costa del Sol or out towards Costa de la Luz and Costa Almeria and around 2004 Costa Almeria started to be marketed as real alternative for property buyers with lower budgets. The marketing people did a great job so much so by the time we had hit the top of the market there really wasn’t much difference between all the Costas of Andalucía with Marbella obviously having a premium. The other factor is the majority of overseas buyers who bought in Costa Almeria didn’t buy to live but were second holiday home owners with the obvious exception of the Ex-Pats that choice to retire to Costa Almeria. Then bang the property crash comes and the first thing that goes in the holiday home second market which Costa Almeria and Costa de la Luz felt the worse of. However it’s much worse than that because the people who couldn’t afford to live in Costa del Sol can now afford to do so which means price is no longer a factor for Costa Almeria buyers it’s about the more relaxed and chilled out way of life. People at the low end of the market will probably look at properties in Costa Blanca south for €70,000 and people who have €120,000 Euros to spend with probably find something for €140,000 in Costa del Sol. The other problem for Costa Almeria is there is no real work for the ex pats community especially compared to Costa Blanca and Costa del Sol. So if you’re coming over to live and work in Spain Costa Almeria is very much off the list and this in a nutshell is why Costa Almeria is taking it so badly” Nick explained at some length.

It’s a real shame as Costa Almeria has a lot to offer and is very much for those who want a much more quite and relaxed holiday rather than those Costas with busy and energetic nightlife. Costa Almeria has excellent relaxed beaches as well as excellent Golf Course with the only desert golf course in the whole of Spain, Desert Springs. Costa Almeria boasts the most sunshine of all of the Spanish Costas and you can still actually buy a property on the beach for €500,000.

If you would like to find out more about Costa Almeria property or advice about the current state of the market contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurn El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 664 268 809
Email: info@spanishhotproperties.com
Website:
http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Almeria/1/index.htm

Spanish Property in Costa Blanca Overview from Spanish Hot Properties July 2009

2009-07-10T09:08:00.000-07:00

2009 has been really interesting year so far for the Spanish property market the Costa Blanca property market has been no different. The enquiry levels have been substantially increased from 2009 but actual enquires converting into property sales is at an all time low according to Spanish Hot Properties marketing and operations manager Susana Suspenda.

“The first thing you have to understand about the Costa Blanca property market is that you have two very distinctive markets in one stretch of coastline, Costa Blanca North and Costa Blanca South. Now the Costa Blanca North property market tends to start just north of Benidorm at Calpe and runs up past Denia until you reach Costa Azahar. Now the Costa Blanca South property market tends to start just After San Javier at the end of Costa Calida and run right up to Benidorm just outside Alicante with Costa Blanca South representing some of the best priced property in all of Spain where you can still buy close to the beach for an amazing price of €70,000 or less. The only problem with this is when you start to look at Costa Blanca North clients believe they can get real Spanish property bargains and the reality is they can’t. The truth is Costa Blanca North or more importantly the prime areas of Moraira , Benissa and Javea there just aren’t the property bargains and prices whilst reduced haven’t tended to come down in the way they have done in Costs Blanca South” explained Susana.

So what about the Costa Blanca market as a whole in 2009 and how does it compare with the rest of Spain with such fantastically price property on some of the Costas of Spain. “Well at Spanish Hot Properties we did some analysis of our enquires across the board and the results for Costa Blanca North especially were extremely interesting in that clients who enquired through our Bank repossessions and distressed sales in Spain page were looking for Costa Blanca North property bargain but in reality had no real knowledge of the market and very false expectations of what they could get. Obviously there will be some odd property that is distressed but in reality Costa Blanca North has held up pretty well. Then when we looked at the enquiries directly from the Costa Blanca North page, Javea and Moraira pages these enquiries were much more realistic about what they might be getting for their money and these people probably knew at what level any property deal could be struck at. As for Costa Blanca South it didn’t really matter what page of the site the enquiry came from it was aimed at cheap, cheap cheap. Interestingly though no matter what the price is the conversation from enquires to sales is like the rest of Spain very poor and the people who do act are tending to get property at very good prices especially in Costa Blanca south” explained Susana

Anyone wishing to find more about the current state of the Costa Blanca property market should contact Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/costa-blanca-property.php

Dama La Noche in Puerto Banus is the Real Spanish Property Bargain of 2009

2009-07-07T10:47:00.000-07:00

Puerto Banus property for under €200,000 sounds unbelievable doesn’t it? Well there has been a lot of talk about Spanish property bargains and fantastic property bargains n Spain during the course of 2009 but invariably on closer inspection there seems to be something missing that was until now as now there is a real deal out there exclusively for the clients of the Spanish property experts, Spanish Hot Properties. The exclusive deal brings Spanish Hot Properties 1, 2 and 3 Bedroom apartments starting at under €200,000 in the wonderful property development Dama La Noche. Nick Stuart managing director of Spanish Hot Properties says “This is quite simply the best deal we have had all year and to have it on an exclusive basis is just wonderful for the clients of Spanish Hot Properties. For those of you who know Dama La Noche you will know what a fantastic development it s due to the fact It has everything you could possibly want from a fantastic location through to the highest quality and from it also being reasonably new and coupled with the price it is very hard and if not impossible to beat. We have a block exclusive to us with prices under 50% of the launch price and the other exciting thing about this incredible offer is they all have 85% mortgages attached to the property which can be subrogated making this a truly fantastic opportunity to our customers and considering prices start at under €200,000 Euros it represents a unique opportunity and obviously we do have an exclusive block but it will be very much dealt with on a first come first serve basis and hopefully the clients who missed out on our last exclusive offer wont do so again. Also clients wont find this deal on the website they need to call 0034 952 588 910 as a matter of urgency”.

One of the major attractions concerning Dama La Noche its Location where you can actually walk to Puerto Banus unlike the usual agents speak meaning 30 minutes away, no within 10 minutes you can be in Puerto Banus for real. The Quality of the development is truly exclusive and top quality and should be seen to be believed

So why Puerto Banus, Puerto Banus is very much at the top end of the market. Puerto Banus property is desired by the rich and famous with some beachside Penthouse apartments selling for well over a million Euros. Property in Puerto Banus also features fabulous villas again very much desired by the rich and famous Puerto Banus is located just west of Marbella, before you reach the small town of San Pedro de Alcantara. This is the place to be pampered yacht side and ogle those fabulous luxury yachts while sipping a drink at one of the many open air restaurants and bars. The setting is close to ideal, with its impressive mountain backdrop and ocean views. Nightlife buzzes at Puerto Banus with your choice of alfresco bars, piano clubs and discos while during the day this is a window shoppers dream with several of the world renowned fashions houses featured here, in addition to small, interesting shops and boutiques Since its inception some forty years ago, the port has steadily grown and now features a casino, commercial shopping centre, a Corte Ingles department store, marine observatory and a multi cinema with films shown with their original soundtrack.

Anyone wishing to find more about Dama La Noche in Puerto Banus from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/Puerto_Banus/1/index.htm

Still Huge Interest for Spanish Property in Marbella

2009-07-03T05:22:00.000-07:00

There is still a very healthy interest in Marbella property with enquiry levels on the increase but in reality it is the decisive decision making Investors who are picking up the Spanish property bargains as your average interested home buyer is still sitting on the fence wondering if the property market has hit the bottom. That is the outcome of a recent review of all Marbella property enquiries carried out by the Spanish property experts, Spanish Hot Properties. “We have never had so much fantastically priced product with apartments at 50% of 2007 list price and Villas Half price but in reality your average house buyer cant bring themselves to take the plunge and on the other hand we have investors who are prepared to buy over the phone without even viewing the property because the numbers stack up” explained Nick Stuart Managing Director of Spanish Hot Properties.

One of the contributing factors to Investors moving back into the market is for the first time in a very long time in Spain its now cheaper to buy than rent and that is a major factor why the investors have decided to come back into the market. According to Nick “its only a matter of time for the best units to be taken off the market but our Investors are Savvy enough to know that the market wont pick up overnight but most of them are taking a 3 year view and more importantly they are buying at such a good price should the market drop further they will be fully protected. Unfortunately our individual buyers are much more wary and as a company we are working very hard with these customer but in reality very few will ever buy no matter what the price is and that is the reality of the situation and a very sad one but you can only take the horse to water” confirmed Nick.

So what is the immediate future for property in Marbella “Overall its very positive for the people who are now in a position to buy with good deals out there for the rest of the year but if the best deals have already gone is anybody’s guess” said Nick

Anyone wishing to find more about Spanish property in Marbella from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/Spain/Andalucia/Costa_Del_Sol/Marbella/1/index.htm

Spanish Hot Properties Solution for the Spanish Property Crisis

2009-06-07T12:43:00.000-07:00

Spanish Hot Properties believe that the time has come fro the government to help the local housing market and their Managing Director Nick Stuart believes he has come up with a plan to that would help the local market. Nick explains “firstly you have to understand that at this moment in time we have two distinct markets, the International property market in Spain and the Local market for Spanish residents. The International market is actually having a lot of interest with buyers cherry picking the best deals, Spanish bank repossession and distressed sales and then you have the local market that shows absolutely no sign of life and very many needs a kick start to help get house sales moving again. However there is one major problem for the local market and that are the banks lending policy. Spanish banks used to lend 70% of purchase price but in some cases that could be up to 100% of purchase price but that policy has now changed to a maximum of 70% of purchase price and when you add the costs involved in buying in Spain at being around 10% this means that a new buyer must have €40,0000 Euros cash for every €100,000 of the purchase price and that is if the bank are lending at 70% because the majority of banks have cut back their lending to 60%”.

So what is the solution to this problem and is their one. Nick reckons that the government have to come in with a scheme to help banks lend and that could take the form of an insurance guarantee scheme. “Basically people just don’t have 40% cash in the local housing market and the only properties they can buy are heavily discounted new properties from a developer who has existing mortgages on the properties of about 85% to 90% and the buyer can just take those mortgages over and in these cases the buyer only has to find between 20% to 25% cash. So for me the solution is pretty simple is a loan guarantee scheme where the banks lend up to 90% of purchase price but the first 20% is guaranteed by the government. The banks would still underwrite the mortgage case on its own merit but the Government would protect them against the first 20% of any loss. For this service the government could charge 1% of the total loan and add that to the loan so in fact 21% would be guaranteed by the Government. In reality as we are as close to the bottom of the cycle as your going to get the Government would probably make money as for them to lose money more than 1 in 20 Mortgages would have to go into repossession which is very unlikely in my opinion. Will the Government act, I doubt it very much but if they think about it they would realize that it would actually make them money because they would be getting all the 7% property transfer taxes on all the extra properties that would be sold. After all we are in a buyers market” explained Nick.

Do you think Nick is talking sense or not and if you have a view on this why not visit the Spanish Hot Properties blog and have your say.

Anyone wishing to find more about property in Spain from Spanish Hot Properties should either call or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Banks in Spain finally coming to terms with Spanish property debt?

2009-05-29T11:07:00.000-07:00

It now seems that. most of the Spanish banks are finally coming to terms with the huge amount of debt and for the first time in their history are preparing to write debt off according to the Spanish property experts Spanish Hot Properties History has proven Spanish banks and property developers are very reluctant to sell at a loss and in previous recessions Spanish banks and developers have held onto property and sold when the market returned however this recession the banks are now finally coming to terms with the problems and realizing they will have to write off debt if they want to bring cash into their banks, well that is the opinion of Nick Stuart managing director of Spanish Hot Properties.

“Basically at the bottom end of the market Spanish bank repossessions especially Costa del Sol property is very uncompetitive where we have distressed sales at half the price of what the bank wants for there repossessions and its very clear it going to take some time for the excess stock to clear and the reality is as the best deals get taken from the market there could well be a lull before the market recovers fully with 2011 being the realistic earliest period for that. Some banks had set up property management companies but I believe the majority of them now realize that debt will have to be written off and some banks are already going down that road with a well known Spanish bank prepared to sell 500 units which have a debt of €120m Euros for €60m Euros and we are aware of some banks getting ready with special schemes for September to turn bad debt into what they call good debt” explained Nick.

Some of the so called Investor groups who were looking to do these deals a while ago are now getting cold feet and it may well be that some Spanish banks wished they had taken the deals when they were offered but only time will tell who is right on that particular score.

Spanish Hot Properties have wonderful opportunities for Investors who are ready to invest and the would encourage nay investor to contact them as a matter of urgency.

Anyone wishing to find more about distressed Spanish property in Spain from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Boost for Spanish Property in Sotogrande due to UK high earners looking to relocate.

2009-05-24T12:55:00.000-07:00

With the news that Guy Hands has moved to Guernsey, heading a queue of tax exiles some prospective tax exiles are starting to consider Sotogrande and Gibraltar as a much more luxurious and desirable option. Guy Hands is the latest wealthy businessman to quit Britain to escape the new 50% tax rate for high earners. Hands, whose Terra Firma private equity group shelled out nearly £3bn for EMI at the height of the credit boom in 2007, has moved to Guernsey in the past fortnight. He is one of the wealthiest people in Britain with a fortune estimated at £200m and there are now plenty of other wealthy UK Citizens considering doing likewise in light of Gordon Brown’s Governments last budget with the axis of Sotogrande property and Gibraltar becoming a real option due to lifestyle and location.

Spanish Hot Properties the Spanish property experts have come up with a unique but simple scheme for buying a category 2 apartment in Gibraltar and a luxurious Sotogrande villa and enjoy some of the best lifestyle on the planet but only two and a half hours flying time from the UK.

Spanish Hot Properties set out to win clients from Britain following Alistair Darling’s budget last week. In a statement circulated to the British press that declared that within an hour of the budget announcement of 50% tax, Britain’s high tax earners seek out Gibraltar, “where taxes are going down not up”. The statement said; “With its M&S, BHS, English pubs and a major new development Atlantic Suites, Gibraltar is the UK in the sun. “In the past few months, it has been busier than ever, with people looking for office space and homes. Since the UK budget last Wednesday, it appears a mass UK exodus is on the cards. due to the headline 50% tax and a myriad of stealth taxes there, we have just not been able to keep up with enquiries in the last few days with the wonderful Sotogrande only twenty minutes from Gibraltar interest in Luxurious Sotogrande Villas has also increased considerably with clients looking to purchase Apartments for tax reasons and Villas for personal luxury choices.

“The European Court of Justice granted Gibraltar self determination on company tax in December allowing the Government to target around 10% or less company tax, being the lowest or equal lowest in the European Union. Add to the fact that income tax for the wealthy is around £20,000 a year, on all global income, there is no capital gains tax, no VAT, no inheritance tax, no wealth tax, no exchange control costs, you can see why Gibraltar with a stable Government and fantastic weather is an obvious choice to escape Britain.” Not quite as pretty as Monaco but strong UK links.

“You have a fast, efficient system that has no surprises as law here in Gibraltar is pretty much the same as the UK. The only difference is that you don’t get hammered by tax and you live surrounded by palm trees & flowers, enjoying earning and spending sterling in the glistening sunshine.”

With the Union Jack-flying, self-governing territory of 28,000 people saw eight per cent economic growth last year, as it has continually in recent years - compared with the UK facing a drop of 35%.

“Gibraltar is forecast to see about seven per cent growth this year, buoyed by its thriving online gaming and finance industries. We constantly have increased interest from gaming companies looking to expand or set up in Gibraltar. The shock decision to increase the tax on poker profits from 15 per cent to 50 percent will see companies such as Gala, William Hill, Ladbrokes, Party gaming and Betfred orientating more of their expansion towards Gibraltar and use of the internet, with others quickly following rushing plans to open there sooner than they planned. “

Sotogrande is a golf, polo, and beach resort that have everything you could possibly want from a residential development, including 5 golf courses, a golf academy, polo grounds, a substantial marina, a riding centre, an international school, beach clubs, tennis clubs, a sailing club, luxury hotels, spas, gyms, restaurants, shops, and much more. It is fair to say that there are few residential communities in the world with comparable on-site facilities making it an ideal location for prospective tax exiles.

Anyone wishing to find more about Sotogrande and Gibraltar property should either call us or email Spanish Hot Properties.
HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Video the Future for Spanish Property Owners Wanting to Sell

2009-05-15T07:56:00.000-07:00

With more and more properties for sale and more people using the internet as their first port of call when looking to buy Spanish property Video is a vital tool for Owners wanting to sell with literally millions of Spanish properties available to view on the internet. Vendors will now seriously have to think about having a professional video made to give themselves and edge and not be at a disadvantage when they come to sell their properties according to the Spanish property experts Spanish Hot Properties who have arranged a cost effective video service for its vendors for the Andalucía region of Spain

“We could see this being the future some time ago and our website was built with a view to use video wherever possible. Each individual Property for Sale, Holiday Rental and Spanish Rentals page has been designed to display and play a property video. So every owner that lists a property with us has the opportunity to have a video of their property on our site which gives our business and our owners a huge advantage. Our site already uses a large amount of video content with Sol Channel videos on our location guides for Andalucía and Developers videos of new developments as well as individual videos on our property for sale page. We also use information videos about the company and other associated services” explained Nick

So why will video make such a difference to selling a property in Spain and is it worth the expenditure. “Well if you’re serious about selling your property and want an advantage then that’s a big yes. Whilst a studio in Torremolinos might not get a great enhancement from a video a three bedroom Townhouse or Luxury Villa would get a great benefit especially in getting potential buyers to view that property. We have put a heavily discounted package together for our Vendors that includes a professional video, hosting on You Tube as well as Spanish Hot Properties websites and some other websites that host video. Alternatively owners can give us a copy of their own video if they have one made. The future for Real Estate both online and in the high street is drastically changing and video is going to be a major part of it” claimed Nick.

Anyone wishing to find out more about Spanish Hot Properties unique video service for Owners and how video can enhance the chance of you selling your property should contact Spanish Hot Properties by phone or email today.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Distressed Spanish Property Sales V Spanish Bank Repossessions

2009-05-14T08:46:00.000-07:00

Over the past few months there has been a lot written and publicized about Distressed Spanish Property sales and Spanish bank property repossessions with lots of different real estate companies making fantastic claims and fantastic offers. So what is the difference and more importantly given the choice between a distressed sale and Spanish bank repossession which represents the best value, well that probably depends on what type of property you are going to buy and what sort of budget you have to spend according to the Spanish property experts Spanish Hot Properties

“Firstly you have to understand the major difference between the two types of property sales. A Bank repossession is basically what it says on the tin where the bank has gone through the whole repossession process which includes hefty costs that are then added to the price of the property and nearly all Spanish banks are looking receive 100% of the total debt. With a distressed sale this happens before the bank goes to repossession and again by its very nature the owner needs to sell quickly with the main reason he needs to get the equity out of the house before the bank repossesses the property or the Owner desperately needs the money for another reason. However the most acute distressed sales happen where the Owner has three months or less before the bank repossesses their property” explained Nick Stuart Managing Director of Spanish Hot Properties.

“Bank repossessions aren’t always good value because banks originally lent high loans to value and due to the practice of some mortgage brokers some people borrowed more than the purchase price and when you add the costs to the outstanding loan then there are very few bank repossessions under €500,000 in Costa del Sol that represent good value. However as you start to go above that level then there becomes some very interesting properties. A recent Villa sold for €715,000 in El Rosario was a good example of this as the property had a bank Valuation of €1.8m with a realistic value being €1.35m, however the property did need €100,000 spending on it but when the work is complete the new owner will have a property worth at least €1.5m that will have cost them €815,000. With distressed sales the majority of these come at the bottom to middle end of the property market where the Owners are desperate to sell. So in conclusion you are probably better off with a distressed sale if your budget is under €500,000 and as your budget increases then some Spanish bank repossessions start to become more interesting” commented Nick.

If you would like to find out more about distressed Spanish property sales in and Spanish bank repossessions then you should contact Spanish Hot Properties by either phone or email.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910

Spanish Property in Marbella still great value but?

2009-05-09T04:48:00.000-07:00

Spanish property in Marbella or just outside still represents some of the best value in the whole of Spain according to the Spanish property experts Spanish Hot Properties. However one should bear in mind the cost of living where you buy your property, because the cost of living varies extraordinary amounts along the 150 Km stretch of Costa del Sol from Puerto Banus on the high side to towns to the east of Malaga like Torre del Mar on the lowside. As Nick Stuart managing director explains “As far as property bargains are concerned and especially heavily discounted new properties from the struggling developers, it is the are area of greater Marbella that offers the best deals with some apartments that were €360,000 a year ago now selling at €200,000. These are extremely luxurious apartments but obviously not in the major town centres and about 6 km from Puerto Banus however when you compare the cost of gong out for a drink and a meal and other local living costs these can be much higher than somewhere like Fuengirola where it is almost impossible to get the same property bargain due to it being a much more local market than the international property market. Fuengirola has a large international contingent with a high number of Scandinavians as well as a British and Irish community and those who decide to buy property in Fuengirola are happy to make the trade off from the quality of the property they live in to the a cheaper cost of living. So depending on your own financial situation it is very much a factor to consider especially for those people wanting to buy with a view to living in Spain”

One other thing that property buyers should be aware of is that these fantastic properties in Marbella involve having to drive and for those wanting to be close to town and beach life around the Marbella area your starting budget really needs to be in excess of €300,000 which can buy you a property that was €500,000 in 2007. “Some clients want the qualities of the brand new luxurious apartments with Town and Beach life for €200,000 Euros which is very unrealistic for a multitude of reasons including the cost of building (there may be a recession on but the cost of construction has not come down in price) and the best locations were built first and therefore have the qualities of the time they were built” Nick explained further.

Anyone wishing to find more about Spanish property in Spain from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Location is Everything in the Spanish Property Market

2009-05-03T05:17:00.000-07:00

Spain is no different to any other major property market in the world and the Spanish property market is no different in that however depressed the world recession and Spanish property market has become prime location holds it value much more so than the rest of the property market, obviously you can get some discount on property in Spain at this current moment in time but nowhere near the discount you can get on non prime location properties. There are some obvious exceptions to this but there are some obvious reasons why this is the case according to Nick Stuart, Managing Director of Spanish Hot Properties. “The reality of the situation is there is a vast oversupply of 2 bedroom apartments up to 500,000 Euros in non prime location areas of Spain but even a shortage of good 3 bedroom apartments on the coast and a good location next to the beach built to high standards is still holding its value well. For me I would describe prime location in Costa del Sol being between Rio Real through to the New Golden Mile beach side. A good example of this was a recent customer Finbar O’Shay from Galway who had a budget of €250,000 (which he has now changed upwards) and we showed him his perfect property a luxurious 2 Bedroom apartment that the developer originally had at €350,000 and we managed to get him a fantastic price of €199,000 this apartment was a 6 KM from Puerto Banus and 3 KM from San Pedro. Besides his wife Eileen absolutely loving the apartment he wanted to be beach side of the A7 in what would be described as prime location with the same qualities. First things first all the best land and location was built on some time ago and finding something of the same standard could be difficult and in reality to get the same type of apartment beachside he is looking at €360,000 plus but Eileen still wants the original luxurious apartment but alas for her it has now been reserved by someone else. The bottom line here is that the prime location property has come down in price but not at the same percentage rate as the unit he really liked” explained Nick

Spanish Hot Properties also see that some international property buyers have totally unrealistic expectations about prime location property but that is not totally surprising with companies highlighting their great deal and there distressed Sales and bank repossession properties. “Another recent client of Spanish Hot Properties Claude Stefferson from Paris came over to view Bank Property repossessions and ended up putting an offer in on a city centre apartment in Marbella overlooking the beach at €500,000 Euros only 10% below the asking price and his offer would have been snapped up immediately in non prime location areas but was dismissed out of hand by the owners and hopefully that gives everyone a good indication that as the saying goes location is everything” Nick explained further.

Anyone wishing to find more about Prime location property in Spain from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Fantastic Spanish Property Holiday Rentals Section from Spanish Hot Properties

2009-04-28T03:34:00.000-07:00

Finally the Holiday Rentals section is live on the Spanish Hot Properties site and can be navigated from the left hand side navigation system. The Holiday Rentals system works in a very similar way to Spanish Hot Properties property for sale and new developments section on the top bar of the site. Where you go into an area and navigate to a city or move up one level to a region like Andalucía.

Spanish Hot Properties as a company will be listing their own Holiday rentals but most importantly this section of the site will be open to other agents and private owners alike at a one off €50.000 Euros a year for a one off properties and for agents as many properties as they like for around €30,00 per month. Spanish Hot Properties have priced it so cheaply that not one agent cannot afford to put there properties on their site. Also with other syndication deals with other sites agents and property owners are going to reach an incredibly large audience. Nick Stuart said “This is a departure for our company as for all intents and purposes we are going to become a Holiday Rentals portal which is total different to the way we work when we sell property where every agent that is part of our network throughout Spain has been personally checked out by myself and Spanish Hot Properties. However for €30.00 Euros a month it is not possible to carry such checks out so in reality we will be just like any other Portal and the onus will be on the renter to make their own checks on the Agent whereas when you buy property from Spanish Hot Properties anywhere in Spain you know you can do so safely and securely with absolutely no risk.”

Spanish Hot Properties are currently building the agents section and billing section of the site and will be able to take agents properties on the June 1, however they are in a position to take individual properties direct from owners straight away.

Anyone wishing to find more about Holiday Rentals in Spain from Spanish Hot Properties should either call us or email Spanish Hot Properties.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Luxury Marbella Property Bargains

2009-04-27T05:27:00.000-07:00

Luxury property in Marbella with truly fantastic James Bond style luxury property which previously was never discounted to the levels of the 2 Bed apartments in Marbella is now about to make the rich even richer according to the Spanish property experts Spanish Hot Properties. “Whilst one can understand the drop in prices for two bed apartments with the oversupply of this type of property in the market place especially in Costa del Sol we didn’t expect to see such great opportunities at the top end of the market” explained Nick Stuart managing director of Spanish Hot Properties.

Highlights of the current offers from Spanish Hot Properties include a Villa in Elviria valued at €1.5m being recently sold for €680,000 Euros, A beach front Luxury Villa on the Beach of the Golden Mile valued at €20m and now can be bought in the region of €12m and a Puerto Banus luxury Villa valued at €20m being available at €10m. However you won’t see details of these types of properties on the Spanish Hot Properties website and on big Villa purchases on the Golden Mile and Puerto Banus potential buyers will have to prove proof of funds before being allowed to visit the property.

So how o such properties become available at such incredible prices when there is no oversupply of these types of properties in the market. Nick believes “it’s a multitude of factors from owner being wanted by Interpol, Rich people suddenly becoming very poor and needing to sell some of their toys, personal illness with people wanting to return to the country of their birth as quickly as possible and it can be something as mundane as not being able to afford the mortgage on the smaller luxury apartments”.

There are also unique deals on luxury properties out there one instance of this is where a Vendor has a Villa in Nueva Andalucía valued at over €2m Euros and is prepare to sell it for €700,000 but wants the option to be able to buy back the property for €1.050, 000 in two years time which means in the worse case scenario the buyer has made €280,000 in two years a 14% return on capital which isn’t bad compared to what you can get at your local bank. The only negative aspect of that transaction is that you can’t sell the Villa for two years. But as Nick says “It’s not for everyone but it shows you what people will do to try and get them out of a very difficult situation”.

So for the first time in a long time there are a few fantastic Marbella Luxury property bargains available but as always they are unlikely to be available for long.

Anyone wishing to find out more about Marbella Property should contact Spanish hot properties by phone or email as soon as possible.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Spanish Property Bargains

2009-04-25T04:49:00.000-07:00

UK Citizens Missing out on Spanish Property Bargains

The Spanish property experts Spanish Hot Properties believes that UK citizens are missing out on fantastic opportunities whilst other nationalities such as the Scandinavian Countries and the Benelux countries are snapping up the incredible offers that are currently available in the Spanish Property Market. Spanish Hot Properties have seen a 1000% increase in enquires since February with a lot of interest from UK Citizens but in reality it is only the UK investor groups that have the funds available who are actually buying at any great level. Spanish Hot Properties Managing Director Nick Stuart believes the Euro is still the major obstacle that is UK people buying, “We’ve seen a lot of interest but there are even more Irish people buying than British people at the present time and the real sales are being bought by other European Citizens some who have the Euro and some who don’t but with bargains such as a €1.2m Villa in Marbella going for €650,000, a €20m luxury Villa on the beach of the Golden mile available at €12m, a detached house in the middle of Barcelona going for €280,000, frontline beach properties in Murcia for under €200,000 and 2 bedroom apartments in Calahonda for under €140,000 its not difficult to see why buyers are seeing the opportunities and agreeing with us that 2009 is very much the time to buy in Spain. The exception to this is the UK citizens who are moving over here to live full time who have just had enough of the UK” said Nick

So it will be interesting to see how many UK citizens start to take advantage of the Spanish Property bargains and how many still decide to sit and wait. Only time will tell who was right and who was wrong

Anyone wishing to find out more Spanish property bargains should contact Spanish hot properties by phone or email as soon as possible.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Spanish Property Prices in Costa del Sol and the Price Reality

2009-04-18T09:45:00.000-07:00

Spanish property in Costa del Sol represents excellent value but some prospective Spanish property buyers still have a total misconception of what property can be bought for and some buyers still think they can buy property in Costa del Sol for under €100,000 Euros according to the Spanish property experts Spanish Hot Properties. Whilst there has been some excellent opportunities with some property buyers buying at 50% below market value from last years price the reality is that any prospective Spanish property buyer who wants to buy property in Costa del Sol should be looking at least having a starting budget of €150,000 and if they have less than that they should seriously look at other areas of Spain such as Costa Blanca South according to Nick Stuart Managing Director of Spanish Hot Properties. “In reality a budget of €200,000 would be ideal for getting that dream Costa del Sol property” said Nick.

The other thing is how much longer these so called property bargains will be around especially in light of the remarks of Gonzalo Bernardos, a professor of economics at the University of Barcelona, who believes that there will be more property sales in 2009 than there were in 2008.
He list five reasons why this is likely; lower interest rates, property prices at 2003 levels, banks lending more, the return of property investors, and many people who were thinking of renting deciding to buy instead. He believes that demand for property is tempered by the cost of mortgage borrowing. With interest rates declining, Bernardos expects sales to pick up. 'There is a fundamental variable. People buy homes in response to mortgage costs, which have gone from rates of 6.25% in September to 3.25% today. We are talking, in general terms, of a fall in mortgage repayments of 40%,' he explained. Whilst Nick doesn’t share his views about the banks lending more he certainly subscribes to the view about Investors and property buyers moving into the Spanish property market in 2009 with a few people who have sat on the fence maybe wishing they hadn’t come the end of the year.

Anyone wishing to find out more about Costa del Sol Property should contact Spanish hot properties by phone or email as soon as possible.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Spanish Property in Sotogrande from Spanish Hot Properties

2009-04-14T08:21:00.000-07:00

Sotogrande property has everything that you could want from a luxurious exclusive area but currently not exclusive prices. Spanish Hot Properties the Spanish property experts currently have apartments actually on the Sotogrande Marina priced at an incredible €220,000 Euros and Huge Villas in Sotogrande Alto that have recently been values at over 3 million Euros at an incredible price of 1.5 million Euros.

Sotogrande is one of the greatest places to live in the world and one of Andalucía’s little treasures. If you like the luxurious Golf, Sporting and Marina lifestyle then Sotogrande has everything you could possibly wish for. Sotogrande is actually located in Cadiz in Costa de la Luz but in reality it is where Costa del Sol ends as the Puerto de Sotogrande is just over the border from Malaga. Sotogrande is a golf, polo, and beach resort that has everything you could possibly want from a residential development, including 5 golf courses, a golf academy, polo grounds, a substantial marina, a riding centre, an international school, beach clubs, tennis clubs, a sailing club, luxury hotels, spas, gyms, restaurants, shops, and much more. It is fair to say that there are few residential communities in the world with comparable on-site facilities. with the opening of Blue Sotogrande that will have every exclusive brand name you can possibly think of and plans to be the number one exclusive shopping destination in Costa del Sol taking business away from Puerto Banus.

So for the first time in a long time people who couldn’t previously afford to buy and live in Sotogrande can afford to do so and according to Nick Stuart managing director of Spanish Hot Properties “Sotogrande is most definitely worth a closer look”

Anyone wishing to find out more about Sotogrande Property should contact Spanish hot properties by phone or email as soon as possible.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Fantastic Spanish Property Prices for Desert Springs Golf Resort from Spanish Hot Properties

2009-04-11T09:33:00.000-07:00

The Spanish property experts Spanish Hot Properties can now offer their clients interested in buying property in Desert Springs Golf Resort a truly amazing offer of the cheapest ever Desert Spring Property prices and incredible viewing trip packages to people can see why Sir Ian Botham says “When I bought property in Spain it just had to be Desert Springs”. Spanish Hot Properties can now offer the following properties at these amazing prices representing up to 30% discount from last years prices.

2 Bedroom Apartments - Only €178,000
2 Bedroom Town Houses - Only €257,000
4 Bedroom Country Cottages - Only €418.000

Spanish Hot Properties feel that these properties with the incredible quality and finish really do offer incredible value with property buyers being able to buy in a five star luxury resort at two star prices.

Well known sports people such as Daley Thompson, Steve Cram, Nasser Hussain and Darren Campbell only have good things to say about the resort and the golf course. On the Desert Springs page of Spanish Hot Properties site you can see a video of the resort to give you a real flavor of why so many well known people think that Desert Spring is such a great place to live and visit.

More importantly Spanish Hot Properties have put an incredible package together for Clients wanting to visit Desert Springs Golf Resort and find out for themselves about one of Spanish Property’s best kept secrets. Full details of this unique offer is available upon request

For more details on how to take advantage of this fantastic Desert Springs Golf Resort opportunity, give Spanish Hot Properties a call directly on 0034 952 588 910 or email Spanish Hot Properties directly on info@spanishhotproperties.com

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Fantastic Spanish Property Opportunity from Spanish Hot Properties

2009-04-06T10:44:00.000-07:00

The Spanish property experts Spanish Hot Properties through there Investor club have just announced a fantastic opportunity to buy into prime Costa del Sol property at an amazing price of €105,000. The details of this unique offer are as follows.

2 Bedroom and 2 Bathroom Apartments - Only €120,000
2 Bedroom and 1 Bathroom Apartments - Only €115,000
1 Bedroom and 1 Bathroom Apartments - Only €105.000

Spanish Hot Properties have a total of 80 apartments for sale. Spanish Hot Properties would like potential buyers to know that these are not pre-construction or brand new unlicensed properties; these are genuine 100% legal bargains operating in a current business in the heart of the Costa del Sol, very close to amenities and the beach. The properties are all supplied fully furnished and are perfect for a holiday home or as a rental property. To achieve these prices Spanish Hot Properties must sell all 80 units and therefore they are asking for interested parties to make their interest known to Spanish Hot Properties. Spanish Hot Properties will allocate the units on a first come first serve basis unless an one Investor decides to buy the lot.

According to Spanish Hot Properties Managing Director Nick Stuart “If you need convincing of how good an opportunity this really is, just do your own search on the internet for bargain properties and see if you can find anything close to this value!. These apartments are right in the heart of the Costa del Sol, they are not in Casares or Manilva and they are not up in the mountains, they are perfectly located to generate rental income or for your very own holiday property at a bargain price!”

For more details on how to take advantage of this fantastic Costa del Sol property opportunity, give Spanish Hot Properties a call directly on 0034 952 588 910 or email Spanish Hot Properties directly on info@spanishhotproperties.com

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Spanish Property and Sterling Exchange Rate analysis from Spanish Hot Properties

2009-04-04T08:55:00.000-07:00

A recent survey of Spanish Hot Properties UK registered customers recently revealed that the exchange rate is the single most important reason as to why UK citizens interested in property in Spain have so far failed to enter the market even in a market offering such incredible value and prices. So what is the future for sterling in the short term and the long term? According to currency broker HIFX in the first 3 months of this year sterling hit a high of 1.11576 in February and a low of 103.62 in January. If you look at the data on a monthly basis January has a high of 1.1361 and In February the low was 1.10 which caused a lot of optimism for an increase in the exchange rate to the 1.20 level which is the level customers of Spanish Hot Properties have indicated they would be happy to enter the Spanish property market at. However that now seems to have been a false dawn with March’s exchange rate figures showing a high of 1.13.49 and a low of 1.0550 with the current rate being around the 1.10 level. So what is the long term future of the exchange rate and will property buyers lose more out by waiting for the exchange rate to increase to the 1.20 level. According to Spanish Hot Properties market annalist Simon Jones If buyers buy at 1.10 and the rate goes up to 1.20 that represents a 8.5% perceived loss and you then have to decide if you would gain more than that buy buying a property at 40% of last years price. “The other thing to bear in mind is that the currency might never get to rate of 1.20 this year. If you look at the history of Euro exchange rates once the Euro has fallen through a floor it has never gone back above that floor from the highs of 1.68 when the Euro was first launched in 2002 it then dropped to 1.50 and then to under 1.40 but came back to highs at 1.45 but never got back to the 1.50 levels. A similar history to the sterling high of over 5 douche marks to the pound in the late 70s and we all know what happened with the ERM. The reality now is the Euro is one of the strongest currencies in the world and that is unlikely to change and most city experts seem to be of the view that long term the sterling Euro rate will be one for one” Simon explained.

How it effects Spanish property no one really knows but according to Spanish Hot Properties Managing Director “if customers are getting a really great deal they should go ahead because if they are going to worry about the exchange rate and wait for it to return to the highs of 12 months ago then in reality they may as well stop looking to buy property in Spain but those who are serious should seriously look at the markets and forward buy there currency when it hits a 2009 high. Obviously this is just an opinion and it is up to individuals how they wish to interpreter the facts and make judgments for the future.

If you would like to find out more about property in Spain then you should contact Spanish Hot Properties by either phone or email.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Email; info@spanishhotrpoperties.com
Website: http://www.spanishhotproperties.com/

Distressed Spanish Property Sales Overview from Spanish Hot Properties

2009-03-29T03:51:00.000-07:00

Distressed Spanish Property sales currently represent the best value in Spain even more so than Spanish bank repossession property according to the Spanish property experts Spanish Hot Properties. There is much more value in Distressed Sales than bank repossessions due to the costs the bank puts onto the property once they have to repossess it. The exception to this is where the bank have taken backs units from a developer who cant service the debt on the property and high end Villas where the loan to value was low to start reckons Nick Stuart managing director of Spanish Hot Properties. “A good example of this is Los Arqueros Golf where recent bank repossession came in at €310,000 but we could buy a brand new unit for out clients for under €200,000 because the current developer had heavily discounted their remaining units. However a good example of a distressed sale is a recent Villa in Sotogrande valued at 3.4m that could now be bought for 1.7m because the owner needs to sell before the bank repossess the property at which point the villa will have all the additional costs added explained Nick

There are very good distressed sales in Spain but the real value is in Costa del Sol due to the huge oversupply of that particular market. However if your looking for more low density relaxed areas you may struggle to find the same value that you do in Costa del Sol. A good example of that would be Nerja where there are still a few distressed sales but nowhere near have the 25% to 40% below last years priced you see in Costa del Sol.

Spanish Hot Properties currently have some excellent value distressed sales properties on the Costa del Sol close to the beach with Villas as low as €340,000 Euros and apartments starting as low as €135,000 Euros. “Value at the existing time on Costa del Sol has never been better with agents from other parts of Spain bringing there investor clients down here to buy rather than there own area and my personal view is if the sterling exchange rate was higher we would see a huge increase in completed sales. Our enquiry level has shot up an amazing 1000% in the last two weeks from Property buyers and Investors alike” commented Nick

If you would like to find out more about distressed Spanish property sales in Spain then you should contact Spanish Hot Properties by either phone or email.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910

Now is the time to buy Spanish Property in Costa Del Sol with Spanish Hot Properties

2009-03-21T06:52:00.000-07:00

Spanish Property experts

Spanish Hot Properties

strongly believe if Spanish property buyers looking for a bargain property in Spain don’t act soon they may lose out. This incredible claim which is hard to believe in such a depressed market is because it looks like Investor groups with substantial funds are now ready to move into the

Spanish property

market and thus taking the best priced properties off the market claims Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties

“The major reason Costa del Sol property is so depressed at the present time is due to a massive oversupply of property on the coast with far too few buyers and far too much property but Costa del Sol is still where the majority of people want to be with the widest choice of lifestyle anywhere in the world from the rich and famous in Marbella and Puerto Banus to the more sedate areas like Nerja and Duquesa where its possible to live very cheaply indeed” explained Susana.

However it now looks like big Investor groups are finally ready to take advantage of the property market where some properties can be bought for less than it would cost you to build taking all costs into consideration. “We have always known that investors were going to come into the market in 2009 but our best guess was around September time but it now seems a few groups want to make sure they get the best properties and plan to move in very soon with one group looking to buy as many as 200 units at the best price. Obviously if they are successful in that they will be taking all the heavily discounted properties that have 35% or more reductions from last years price off the market. This will be a positive move for Costa del Sol as a whole with around 2.8m in Stamp duty alone helping the economy in such depressed times. However the draw back is that the individual property buyers may lose out and not be able to buy the property bargain they were hoping for and our advice would be to make sure you don’t lose out and act if you get a really good deal. What were talking about here is the heavily discounted product from Developers needing to sell and obviously there will still be some distressed sales where the Vendors will not want to sell at the price these Investors are offering” said Susana.

Spanish Hot Properties are now looking for more products for its investor clients. Any developers and vendors who are prepared to sell at heavily discounted prices should contact Spanish Hot Properties either by phone or email.

If you would like to find out more about this fabulous offer from Spanish Hot Properties then call or email them today.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910
Website; http://www.spanishhotproperties.com/
General Enquiries info@spanishhotproperties.com

Luxury Costa del Sol property

2009-03-15T15:54:00.000-07:00

Luxury Spanish Property in Costa del Sol with Spanish Hot Properties

Spanish Property experts Spanish Hot Properties are pleased to announce a unique offer for clients looking to buy real luxury property in the prestigious Los Flamingos Golf resort. The unique offer is valid for the Alanda Los Flamingos until 30 April 2009 and takes an incredible €100,000 off the sale price. Prices now start at €380,000 for hugely spacious 2 Bedroom apartments with huge terraces. These are incredible properties and in the height of the Spanish property market were selling for over €600,000. If you are looking for real luxury quality property in Costa del Sol these apartments are very to beat according to Susan Suspenda the Marketing and Operations manager for Spanish Hot Properties.

If you value stylish contemporary architecture and chic urban interiors then the only new development in the Marbella area you need to check out is in the Los Flamingos Golf Resort. No other new development in the area can match its elegant, contemporary architecture, crisp urban interiors, and blend of form and functionality. In our opinion it is the obvious choice for sophisticated buyers who appreciated design, and want more than just the great weather and lifestyle of the Costa del Sol. Los Flamingos is a stylish development with only 3 storey’s per block the build density is low, providing a sense of privacy and tranquility that few other apartment developments in the area can match. Having visited countless developments around Marbella, Los Flamingos is one of the few that really stands out. Considerable thought has gone into the layout and design of Los Flamingos, which is set on a low hill facing south towards the Mediterranean over the fairways and lakes of the Flamingos Golf course. All the blocks are positioned to make the most of the sea and golf views, but the thoughtful distribution and contemporary design also makes the development itself a pleasure to look at, with its stylish architecture, landscaped gardens, water features and 2 communal pools. Without doubt the superb contemporary architecture and interior design of Los Flamingos is the key to its appeal, differentiating it from the vast majority of other developments on the Costa del Sol. The white exteriors combine strong contemporary lines and geometric shapes with traditional building materials such as natural stone and clay roof tiles. The interiors are spacious and contemporary, with clean lines, free flowing distribution, and open spaces lit by natural light from floor-to-ceiling sliding glass doors and windows. Top quality materials and fittings are used throughout, and the fully-fitted kitchens and bathrooms are a stylish and highly functional. Surrounded by the Los Flamingos Golf Resort, owners at Los Flamingos have direct access to the existing 18-hole PGA championship course, plus a further 9-hole course. 2 more 18-hole courses are planned, along with tennis and paddle tennis courts, and a beach club at the Costalita beach just 5 minutes away by car. Los Flamingos Golf is truly an amazing unrivalled luxury development and at its current fantastic prices should definitely be worth further investigation.

If you would like to find out more about this fabulous offer from Spanish Hot Properties then call or email them today.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 952 588 910

Distressed Property Sales

2009-03-11T06:28:00.000-07:00

Distressed Spanish Property Sales in Spain with Spanish Hot Properties

Distressed Spanish Property sales currently represent the best value in Spain even more so than Spanish bank repossession property according to the Spanish property experts Spanish Hot Properties. Spanish Hot properties marketing and operations manager Susana Suspenda feels that the better value is in the distressed sales in Spain due to the costs that are added to a property once a Spanish bank instigates proceedings to repossess a property. “In reality it is best to try and buy a property from an owner who is in trouble before the bank starts proceedings. Once costs are added by the bank it can make a Spanish bank repossession look very expensive, a good example of this was a recent two bedroom apartment Spanish bank repossession at Los Arqueros Golf and Country Club that was being made available by the bank at €330,000 where we can arrange for our clients to buy a brand new apartment for €180,000. So you can see that in most cases Spanish bank repossessions don’t represent good value especially at the lower end of the price bracket” explained Susana.

“At Spanish Hot Properties we specialize in distressed sales and heavily discounted brand new properties direct from the developer and these really do represent excellent value. A good example of how a good distressed sale really works is a recent case where a vendor had a mortgage of €220,000 including late payments and arrears with the bank looking to get the arrears paid or instigate proceedings to repossess the property. A realistic value in the current market would be around €400,000. The vendor actually sold for €275,000 and walked away with €50,000 that he wouldn’t have got if it had gone through the court process and the buyer picked up a bargain in the process” Susana explained.

Obviously with the current credit crunch unfortunately for those who fall on hard time there will continue to be these type of situations and someone else’s loss tends to be someone else’s gain.

If you would like to find out more about distressed Spanish property sales in Spain then you should contact http://www.spanishhotproperties.com/ by either phone or email.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 664 268 809

Spanish Fractional Ownership Buyers Beware

2009-02-27T04:07:00.000-08:00

With the news that the Spanish property market is about to get its first Taylor Woodrow made Fractional Ownership product some buyers should be aware that agents and timeshare companies with no knowledge of Fractional Ownership may well try to get on the Fractional Ownership bandwagon without necessarily having the clients best interests at heart. Spanish Hot properties marketing and operations manager Susana Suspenda is concerned that potential Fractional Ownership buyers should be getting advice from companies that fully understand Fractional Ownership and the pitfalls.

“At Spanish Hot Properties we very much see ourselves as the Spanish Fractional Ownership experts having spent time with lawyers and professional people to deal with the issues of people sharing an asset. There is no doubt Fractional Ownership is a great way forward for people wanting to have a Spanish holiday home but without the expense of buying 100% of a property they may only use four to six weeks a year.” Explained Susana.

“Some companies will try and advertise luxurious properties in Costa del Sol for €75,000 Euros and it will only be further down the line that you will find out they are selling you a fraction and a share and not a whole property. At Spanish Hot Properties we are far more ethical and professional than that and we believe our professional, honest and ethical approach make us the number one choice for any potential client wanting to buy fractional Ownership property in Spain” continued Susana.

As for the first non bespoke Fractional Ownership product in Spain that is the Taylor Woodrow homes at Los Arqueros Golf and Country Club and it has an ideal location for Golf and Beach life and the quality of the homes and the furniture being put into the homes make it an ideal Fractional Ownership product.

If you would like to find out more about Fractional Ownership then contact http://www.spanishhotproperties.com/ by either phone or email.

Still huge interest in Spanish Property Market

2009-02-22T06:26:00.000-08:00

Apparently there is still huge interest in the Spanish property market amongst UK buyers especially concerning Costa del Sol property, Mallorca property and Costa Blanca North property according to a recent survey of Spanish Hot Properties of its registered customer base there is one major overriding factor as to why those people interested in buying property in Spain have not bought and that is the exchange rate according to Susana Suspenda, marketing and operations manager of Spanish Hot Properties

“in reality the exchange rate is key and from the conversations we have had it could well be physiological as well as a strictly business view. In October time when the Euro hit a peak of about 1.27 there were buyers ready to buy but we all know what happened to the exchange rate. On one huge discounted development the developer was still prepared to do a deal to a sterling equivalent of 1.10 but those people still couldn’t bring themselves to buy with most of them telling us that they still very much want to buy but not until the Euro hits 1.20 Explained Susana

Now these people may get there wish in the very near future with sterling improving this week and only seven cents of the physiological rate of 1.20 and it should be interesting to see if these people come into the market when sterling achieves this rate. Spanish Hot Properties would advise any buyers to seriously look at a company life HIFX to forward buy currency once it hits this level especially if this a level of currency exchange rate somebody is happy to enter the market.

The other types of buyers registered with Spanish Hot Properties are the cash buyers and Investors who have joined their Investor Club or registered on their most visited page Spanish bank repossession Property and Distressed properties in Spain. These people are primarily still sitting on the fence looking for the market to come down even further in Spain but have told Spanish Hot Properties they intend to move into the Spanish property market in 2009.

Anyone wishing to get the right advice about buying Spanish property in 2009 should contact Spanish Hot Properties by either phone or email

CONTACT VIA POST
HQ Mailing Address:Spanish Hot Properties SLGerald Brennan 46Alhaurin El Grande 29120MalagaEspana
CONTACT VIA TELEPHONE
UK:
0207 558 8355
International:
0034 664 268 809

Luxurious Costa del Sol property with Spanish Hot Properties

2009-02-17T03:51:00.000-08:00

Spanish Property experts Spanish Hot Properties are pleased to announce a unique package for its clients to buy into the ultra luxurious resort at Marques de Atalaya in Costa del Sol, Spain. This luxurious development has everything possible going for it including being fully licensed & ready for immediate completion, Active community in place, Heated indoor pool complex with Jacuzzi, sauna, Turkish bath, Equipped gymnasium, Tennis court, Frontline golf with reduced green fees, Sea views, 10 year structural guarantee, 45 minutes to Malaga airport, 10 minutes to Puerto Banus and Spanish Hot Properties can deliver to it clients at unbeatable prices with prices starting from €299,000 for 120 Square meter plus luxurious apartments according to Susan Suspenda the Marketing and Operations manager for Spanish Hot Properties

“Built on an elevated front line golf site, Marques de Atalaya boasts stunning sea and golf views and with a south and west orientation is the perfect place to enjoy a home away from home in the sun. Two landscaped outdoor swimming pools and an indoor heated pool, along with a spa area, bar and tennis court is only some of its wonderful features. Built to a very high specification, these spacious and light filled 2 and 3 bed apartments and penthouses come with lockable storage room and garage space as standard. With full license received last year, occupation is immediate. Within minute’s drive of Puerto Banus and Marbella, Marques de Atalaya is truly a leisure seekers paradise. These are exceptional apartments that really do have quality and luxury stamped all over them” claimed Susana.

If you would like to find out more about the Spanish Hot Properties Blog then visit the Spanish Hot Properties blog and see it for yourself.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 664 268 809

Spanish property blog launched by Spanish Hot Properties

2009-02-08T07:09:00.000-08:00

Spanish Property experts Spanish Hot Properties has now launched its brand new Spanish hot properties Blog which it believes is revolutionary in hopefully getting its customer to use the blog to interact with the company and gain as much knowledge about the Spanish property market as possible. The blog will use all available multimedia content such as Video and podcasts and later this year plans to be the first site with Video casts which should really benefit their customers according to Susan Suspenda the Marketing and Operations manager for Spanish Hot Properties

Other key component of the blog will be the Area Guides that will give substantial content and information about Areas and Towns in Spain with Sotogrande not surprisingly being the first Town into the area guide especially with such wonderful choice of property in Sotogrande at this moment in time. Also featured in the Blog are links back to the video content on the main site as well as special sections like distressed property Sales and the buying process in Spain. The other special feature of the blog will be the weekly Spanish property update from Managing Director which will feature all the latest best deal and also his view about the state of the Spanish property market and the latest trends and analysis of the week’s Spanish property news.

If you would like to find out more about the Spanish Hot Properties Blog then visit the Spanish Hot Properties blog and see it for yourself.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355 International: 0034 664 268 80

Costa Calida Property for Sale

2009-02-01T02:53:00.000-08:00

Property in Costa Calida has recently gone off the radar of Spanish property buyers but there are a lot of factors that make Costa Calida worth a very good look when thinking about buying property in Spain according to Susan Suspenda the Marketing and Operations manager for Spanish Hot Properties.

Murcia is the fastest growing province in Southern Spain. This expansion is expected to remain strong during the next decade as a result of the regional government’s investment in the region. The government is injecting €1000 million into the area notably in infrastructure, industry, commerce and hotels, agriculture and water, homes and tourism. A key element in this is the new airport expected to deliver an increase in gross national product for the area of 8 per cent and an increase in tourism of 40 per cent. In 2007, Murcia’s population was over 1.4 million ranking it as the ninth-largest city in Spain. Additionally, tourism increased by 18 per cent in 2007 compared to an average of 2 per cent for Spain with tourist spending showing an increase of 30 per cent.

Whilst the second home market is suffering, this is not true of the domestic market in this region of Spain. Demand for property in Murcia from indigenous Spaniards is strong with 80 per cent of sales to Spaniards in Q1 2007. Professionals in particular are moving to Murcia as a result of the continued increase in businesses attracted to the region.

Improved transport links are also evidence of the region’s growth. Murcia-San Javier Airport is 20 minutes away, the world famous La Manga club, is about 30 minutes by car and the airport at Alicante; frequently used by travellers to Murcia is under an hour away. Importantly, the new international airport planned for Corvera and due for completion in 2010 is 15 minutes away and is expected to accept flights direct from the USA. An estimated three million passengers are expected in the first year.

The city provides all the amenities and services you would expect to find in a modern city sustaining interests of professionals. There is a new modern shopping complex which is the largest in Europe,which incorporates the cities football stadium, a multi screen cinema complex and a water park. Brand names like Ikea, Primart, Mothercare, Zara, Eroski are amongst the hundreds of modern outlets. Large state of the art modern and efficient hospital facilities are available as well as many schools including international schools, such as Kings College and El Limonar. There are several commercial centres and over 45 golf complexes in project including all the Jack Nicklaus designed Polaris World courses, Roda and Corvera Golf designed by Sam Torence, Paraleja, by Seve Ballasteros, Tres Molinos Greg Norman designed and Hacienda del Alomo. Murcia is accepted as the new golf capital of Europe and Torreguil is set conveniently less than 30 minutes from all the above courses.

Costa Calida still has many benefits according to Susana “and you can still buy Spanish property in this region for around €100,000 which is pretty good even in these depressed times” Susana continued

If you would like to find out more about Costa Calida property then contact http://www.spanishhotproperties.com by either phone or email.

HQ Mailing Address:
Spanish Hot Properties SL
Gerald Brennan 46
Alhaurin El Grande 29120
Malaga
Espana

CONTACT VIA TELEPHONE
UK: 0207 558 8355
International: 0034 664 268 809

Fractional Ownership in Spain

2009-01-31T07:43:00.000-08:00

You can now have your own slice of property in Spain with Spanish property as low as €35.000 with the Spanish property experts Spanish Hot Properties through there Fractional Ownership Schemes which they have been offering for over 18 months. However beware of the timeshare crowd about to piggy back Fractional Ownership that might not protect the client as well as an ethical professional estate agent that has their client’s interest at heart

Spanish Hot Properties where very much the pioneer of this scheme as they could see that people would no longer be able to afford their own home and there managing director Nick Stuart was turned onto the possibilities of Fractional Ownership by the legendry Investment maestro Peter Parfait who was the person who first devised the Scheme as away of people owning a holiday home without having to bear the full expense of buying and maintaining a holiday home when you might only use it for 4 weeks a year. Nick reckons the scheme is a very simple one in that 4 people through an SL Company buy a property in Spain and agree between them how to carve up the 52 weeks i.e. 13 weeks for each 25% share and agree on the firm to carry out the maintenance of the property. Unlike time share you actually own a share in the property which you can sell if you want to move on and are probably much more saleable than a Timeshare piece of paper where you don’t actually own anything. The major drawback of the scheme up until now has the English mentality of not wanting to share their property with anyone in essence they want to own their own property. However with the current climate things might be changing especially when you have developers such as Taylor Woodrow Espana making units available for Fractional Ownership buyers.

However Nick warned “my major concern in all of this is timeshare companies will go into market this in a way that won’t necessarily benefit the client. We do our best to protect the client by introducing them to a top quality lawyer and taking them through the buying processes in Spain and the Fractional Ownership scheme and it is our view that for the scheme to really work you need 4 owners but with timeshare they may very well have as many as 26 owners and the fees and commission on such a deal would be huge. However if they sold 26 shares on a property bought for €200,000 and then added €60,000 buying and commission fees a potential buyer would only have to pay €10,000 for two weeks usage and one twenty sixth ownership of the property which does have its attractions and you can see why Timeshare type of companies would like to get involved in such a scheme. However we think the scheme we are running at Spanish Hot Properties is much better for our clients and feel that we offer the best security for Fractional Ownership buyers” confirmed Nick

If you would like to find out more about Fractional Ownership then contact http://www.blogger.com/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/OLKC679/www.spanishhotproperties.com by either phone or email.

Costa del Sol Property Analysis

2009-01-31T04:12:00.000-08:00

With currently more than 100,000 unemployed people in the building industry what is in store for property in Costa del Sol. Well a recent report from Economic Analysts in Andalucía paints a pretty bleak picture for Andalucía but the province of Malaga the home of Costa del Sol has a much more rosy future than the rest of Andalucía. Malaga with a growth rate of 1.5% last year is the leading province for economic growth whose average growth rate is 1.1%. The gross regional product of Andalucía is expected to fall by 1.1% in 2009 however the least effect of the decline will be felt in Malaga and Sevilla.

One very interesting statistic was that the number of building licenses issued in the province of Malaga was more than 13000 less up to September of last year than the year before. The report not surprisingly states that the crisis in the building industry has been mainly due to the overpricing of housing in the region and the only way out of trouble is for prices to be adjusted downwards. The report suggest prices need to fall 17% nationally and 27% in Andalucía but according to Spanish property experts Spanish Hot Properties some Costa del Sol Property has already been reduced by up to 30% from last years price by developers keen to liquidate there stock and in some cases as much as 45%. According to the report such a price drop would stimulate the property market especially when you consider that the average Malaga family spend 56% of there salary on mortgage this is set against an Andalucian average of 45% and a national average of 40%. However house price falls alone won’t restore the confidence of the local property buyers market with the Andalucian unemployment rate likely to reach 23% in 2009 set against a national average of 17% but price readjustment would be a very good starting point.

So how does the latest report and statistics impact on Spanish property sales in Costa del Sol and when is the right time to buy . Some time in 2009 is the right time to buy according to Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties. “Costa del Sol tourism is holding up very well with Andalucian tourism down 2.3 % but Malaga actually having a 2.4% increase which indicates this is still the place where overseas property buyers want to buy and from our recent survey we can see people are very keen to snap up the bargains that are available and they obviously want to buy as close to the bottom of the market as possible. What the report clearly states is that 27% falls is what is needed for the market to readjust so if you can buy at 40% below value then your 13% ahead of the game so to speak. Some investors have missed the boat on certain bargains by sitting on the fence too long and time will tell whether a similar deal will materialize to replace the ones they missed out on” explained Susana

Anyone wishing to find out more about Costa del Sol Property should contact Spanish hot properties by phone or email as soon as possible.

Distressed and Repossessed Spanish Property

2009-01-25T03:50:00.000-08:00

Distressed and Repossessed Spanish Property in Spain with Spanish Hot Properties

Spanish Hot Properties have announced a unique deal to offer all of major Spanish Bank’s repossessions to its Investor Club members. It’s a unique opportunity in the current Spanish property market in Spain and keeps Spanish Hot Properties as the market leader in distressed sales and Spanish bank repossessions in Spain so says Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“So with such a great opportunity our members should be able to find some very good bargains but also need to sort out the real bargains because the majority of Spanish Bank repossessions don’t represent good value. The major reason for this is that the time the bank add its costs to the original loan and missed mortgage payments the amount being asked is still too high in the current market. So in some cases distressed can still be the better option buying from someone who needs to sell before the bank foreclose” Susana explained further

Spanish Hot Properties Investor club (SHIPC) offers an unrivalled service for its members and is very transparent about this particular offer to its members and hence why Spanish Hot Properties is seen as one of the most professional and ethical companies in Spain. Susana explained “this current deal we have been given a net price by the bank and we add our fee to that net price and our clients get a total price including our fee however our clients will know our fee before the transaction is completed and most reasonable business people much prefer our upfront and honest approach. Most people don’t mind paying someone to source them a real Spanish property bargain here in Spain. The other attraction of this deal is there are already mortgages attached to the bank repossession property which our clients can take over as long as they can demonstrate they can pay the loan. We will only contact customers leaving full information including a contact telephone numbers as we are so incredibly busy at the present time and only want to deal with serious investors and property buyers”

Anyone who is seriously interested in find out more about Distressed Spanish property sales in Costa del sol should contact Spanish Hot Properties to register their interest.

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Costa del Sol Property Bargains

2009-01-24T08:52:00.000-08:00

With the current credit crunch this tends to be the time when people with money make money and those without don’t really get the chance to get a piece of the action due the oversupply of Spanish property at the bottom to middle end of the Costa del sol property market. However due to the Spanish housing market slump there is actually now are real property bargains in Costa del Sol that is there for everybody to take advantage of and easily the best deals this century for property buyers according to Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“We have two very exciting developments both different but both real property bargains that supersede the current sterling exchange rate and property gloom here in Costa del Sol. The first development is a small development of 33 units with luxurious apartments all over 100m2 built to the highest possible standard with amazing sea views with the highlights being a two Bed apartment that was €340,000 Euros can now be bought for under €200,000 Euros. However that is nothing to the amazing 100 M2 penthouse with 100 M2 Roof Terrace with Jacuzzi and BBQ all as standard and Siemens appliances in the Kitchen, this apartment is now selling for an amazing €311,000 Euros a reduction of over €170,000 Euros from last years price. We then have another totally different type of development an exceptionally high standard with top quality fully fitted Kitchens, the best Porcelana Bathroom fittings, Home Automation, Air Conditioning, Heated indoor Swimming Pool, Gymnasium, Jacuzzi, Sauna, Paddle Tennis and many other luxurious features ” Susana explained further. The list price for a spacious 100m2 two bedroom apartment was €349,000 Euros but the developer has now discounted that by a massive 40% giving a price of under €200,000 Euros with similar apartments selling for close to €400,000 a year ago. Spanish Hot Properties Also there is a 80% developer’s mortgage in place which is quite unique in the current credit crunch. Anybody wanting further information about this unique opportunity should contact us immediately” said Susana.

Spanish Hot properties are enhancing these incredible offers even further by paying the clients legal costs in relation to the buying of these properties for all property reservation up and until Valentines Day.

Anyone wishing to find out more about these fantastic offers should contact Spanish hot properties by phone or email as soon as possible.

Property in Spain Market Report Jan 2009

2009-01-16T07:32:00.001-08:00

2008 was a pretty bad year for Spanish property and things look like they are going to get a lot worse before they get better. This is the first time that we have seen year on year price falls in the official index since the market started to slump in the second half of 2007. Officially, at least, nominal property prices have not fallen since 1993. Average property prices fell almost everywhere, though prices were still creeping up in the provinces of Sevilla (+3.4%), Cadiz (+3%), Valencia (+0.9%), and Extremadura (+0.1%), if you believe the government’s figures. Values fell the most in the province of Madrid (-7.6%), followed by Murcia (-5.8%), Tenerife (-5.8%), and Castellon (-5.3%).Over 10 years, however, Spanish property values are still 215% higher in Andalucía, 211% in Murcia, and 200% in the Balearics. Property prices on the Spanish Mediterranean coast fell by 14.3% in 2008, according to the latest monthly Spanish house price index published by Tinsa, one of Spain’s leading appraisal companies. The fall applies to both newly built and resale properties, so this is the first closely-watched index to show big falls for newly built property.

Nationally, property prices fell by an average of 8.8%, taking values back to where they were at the start of 2005. At the same time last year prices were still rising nationally by 3.6%, and by 13% just 2 years ago. Property values along the Mediterranean coast have been hit the hardest in this downturn for two reasons. Firstly, much of the market on the coast is made up of second homes, which nobody really needs so sales quickly dry up when budgets get tight. And secondly, because much of Spain’s building frenzy took place on the coast, so coastal municipalities are groaning under the weight of a newly built housing glut that is depressing prices. Values in metropolitan areas, or suburbs, were the next biggest casualty of 2008, falling by 10.2%, followed by Spain’s islands – the Balearics and the Canaries – where prices fell by 9%. Spain’s big cities and provincial capitals saw prices drop by 8.1%. Spain’s G-14 association of leading developers recently admitted that new build property prices fell by 15% to 20% in 2008, making it the worst year ever for developers. Combined with the falls in Tinsa’s latest house price index these are the biggest falls in property prices ever recorded in Spain. Some experts expect 2009 to be even worse for the Spanish property market. Average Spanish property prices fell by 3.2% in 2008, according to the official house price index from the Ministry of Housing. Real prices, after adjusting for inflation, fell by 4.6%.

So what do all these statistics mean for potential property buyers in Spain well according to Susana Suspenda, the Marketing and Operations manager for Spanish Hot Properties “Cash buyers should be getting a great deal in 2009 and its probably the best time to buy property in Spain with buyers moving in this year picking up the best value in distressed property sales and hugely discounted new developments from developers in trouble”. Obviously time will tell if Susana is right but some of the completed property sales in December and January do tend to lend support to Susana’s point of view.

Anyone wishing to get the right advice about buying Spanish property in 2009 should contact http://www.spanishhotproperties.com/.

Distressed Spanish Properrty Sales in Costa del Sol

2009-01-14T05:05:00.000-08:00

Distressed Spanish Property in Costa del Sol, Spain with Spanish Hot Properties Investor Club

The credit crunch is currently offering investors with cash incredible opportunities to make even more money. Nowhere is this illustrated better than in the current Spanish property market in Spain so says Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“So With the banks in Spain repossessing more and more properties people who are in financial difficulties are having to decide whether to take substantial loses on their properties or risk losing everything” explained Susana. “At Spanish Hot Properties we are seeing incredible deals for Costa del sol property buyers and members of our Spanish Hot Properties Investor Club (SHPIC) alike. Some of the deals include a Villa in Sierra Blanca Valued at €7m going for €4m, a Villa in Guadalmina valued at over €2m going for €1m, a villa in Nagueles valued at over €4.5m going for €2.5m and a €15m Villa in the Golden Mile going for under €10m as well as huge discounts at the bottom end of the market with luxury townhouse in Paraiso being reduced from €500,000 to €320,000” Susana explained further

Spanish Hot Properties Investor club (SHIPC) also sources developments for real investors who want to buy multiple units from developers who would like to sell all their remaining units with some incredible deals on the table with some Investors being able to buy a group of properties for 50% less than last years price representing incredible value for those investors.

“Spanish Hot Properties unlike most other companies will not actually have properties listed on their websites with photos and details however the reality of the situation is that if the details are on a web site they most certainly wont be bank repossessions and are unlikely to be real value distressed sales because in normal circumstances they are sold in a very short time frame without actually coming directly onto the market. This is why Spanish Hot Properties do not list our bank repossession property and distressed sales onto our web site and contact directly those people who have expressed an interest in buying such properties however we will only contact customers leaving full information including a contact telephone numbers as we are so incredibly busy at the present time and only want to deal with serious investors and property buyers” said Susana.

Anyone who is seriously interested in find out more about Distressed Spanish property sales in Costa del sol should contact Spanish Hot Properties to register their interest.

Spanish Property Still Creating Massive Interest

2009-01-11T05:13:00.000-08:00

Property in Spain is still creating massive interest according to the Spanish property experts, Spanish Hot Properties but the obvious question is why? With the news that the economic crisis buffeting Spain sent the number of bankruptcies soaring by 182% to 2,864 in 2008, 38% of them in the real estate sector, reveals a new report from Pricewaterhouse Coopers. “Between October and December there were more insolvency proceedings than in all of 2007,” says the report, which warns that the commercial courts could collapse under the workload if this trend continues in 2009. Bankruptcies amongst developers and brokers rose from 74 in 2007 to 387 in 2008, and in the construction sector from 182 to 692. The rapidly rising number of property companies being forced into administration, like Martinsa-Fadesa, is likely to have a significant impact on the market There is even more bad news in the form The number of Spanish properties bought and sold in October (39,201) was 27.5% less than the same time last year, according to the latest figures from the Spain’s National Institute of Statistics (INE). In the first 10 months of the year, sales are down by 28.4% compared to last year. That means that the Spanish property market has shrunk by almost 30% in a year. Figures also released by the INE reveal that new mortgage lending fell by 40.7% in the same period, which helps to explain the severe market contraction. Mortgage lending in Spain, as elsewhere, has been brought to heel by the credit crunch. Finally the news that Last year was the worst year ever on record for the Spanish property sector, and this year, reports the Spanish daily ‘El Pais’. Residential property sales collapsed, as did housing starts, and now there is hard evidence of unprecedented price falls, with new build prices falling 6.6%, according to Sociedad de Tasación, one of Spain’s leading appraisal companies. The price falls recorded by Sociedad de Tasación are the biggest in the two decades that the company has been publishing price statistics. And according to Pedro Pérez, general secretary of the G-14 group of Spain’s biggest developers, prices are going to continue falling. This is a novel development, as developer associations like the G-14 have taken a hard line against price falls ever since the Spanish property market started to wobble. At first they insisted that new build property prices would never go down, then, from one day to the next that prices had already fallen by 15% to 20%, and so did not need to fall further. However such pessimistic news doesn’t seem to deter overseas property buyers from expressing interest in buying property in Spain.

As Spanish Hot Properties Managing Director explains “We are getting over 10 new registrations a day with investors and property buyers alike looking for a deal or a bargain with our Spanish bank property repossessions page getting a huge number of hits and accounting for 50% of all our new enquires. You would think with all the bad news around there just be no interest at all but that is certainly not the case and maybe these people in Northern Europe have just had enough is enough and now is the time to move to Spain. Like most places at the moment there are fantastic opportunities for cash buyers and some are now starting to take advantage of the offers available. My personal view is if the Euro goes back to €1.20 to the pound then a lot more buyers from the UK will move in as the exchange rate had killed any value for them before that date. However Irish buyers don’t have that problem and they are coming over in quite large numbers at the present time”.

So going into 2009 property buyers looking for Costa del Sol property, Homes in Costa Blanca North and Mallorca property should who are in a position to buy should really be able to take advantage of the doom and gloom current effecting the Spanish property market.

To find out more about the Spanish property market in 2009 contact the Spanish property experts Spanish Hot Properties.

Falling Spanish Property Prices, When to Buy

2009-01-06T08:34:00.000-08:00

You can now have your own slice of property in Spain with Spanish property as low as €169,000. Spanish Hot Properties, experts in finding the best properties in Spain believe that 2009 will be the year to take advantage of such falls.

As we enter 2009 there seems to be no good news with prices likely drop further during the year. Average Spanish property prices fell by 3% over 12 months to the end of the third quarter, according to Spain’s official House Price Index, published by the National Institute of Statistics (INE). Having declined by only 0.3% in the second quarter, the index, known in Spain as the Indice de Precios de Vivienda (IPV), suggests that price falls have accelerated towards the end of the year. Resale property, which the Spanish like to call second-hand housing (vivienda de segunda mano), is doing far worse than newly built property (obra nueva), at least according to the official index. Resale prices fell by 8.6% over 12 months to the end of September, compared to rise of 3.7% for newly built property. The index, which has only been published for 2 quarters is probably the most optimistic of all indices and Stalin himself would have been proud of such fine propaganda so when such indices confirm prices you know for sure it is for real and the situation is obviously a lot worse. By region, prices fell the most in Catalonia (-8.3%), followed by Madrid (-7%), the Basque Country (-6.3%), Navarre (-5.3%), Aragon (-5%), and the Balearics (-2.6%), and rose the most in Extremadura (2.9%), Galicia (2.6%), Murcia (2.1%), Castilla-La Mancha (1.4%), Andalucía (1.1%), Comunidad Valenciana (0.8%), and the Canaries (0.6%). The figures in Andalucia, Murcia and Comunidad Valenciana do take some believing and the reality on the ground is very different. At least the INE’s index is more reliable than the Ministry of Housing’s figures, which would have us believe that prices were still rising in the 3rd quarter, albeit by just 0.4%.

The actions of the banks who are now acting as Property companies gives a much truer reflection of the Spanish Property market. Having taken over developers or their assets in return for cancelling debts, many banks and savings banks, known as cajas, now find they own a wide variety of real estate assets from land and flats under construction to finished developments and business parks. Knowing what to do with all their new real estate holdings is an increasing problem for Spain’s banks. Big banks like Santander have set up new divisions to manage property portfolios, which in Santander’s case is valued at more than 2 billion Euros. But banks are not property companies, and on the whole do not do a good job of managing real estate assets. That said, the property crash of the early 90s turned out to be one of the most profitable episodes in the history of Spanish banking. Having got assets on the cheap, all the banks had to do was hold on until the market picked up, which it inevitably did.

Such news begs the question about when is the right time to enter the Spanish property market. According to Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties The second half of 2009 will be the ideal time to enter the market who claim they have a lot of buyers and investors sitting on the fence and will probably buy if they can get a further 10% reduction. “It is my view these buyers will enter the market in the second half of the year and before that if they can get the right deal” confirmed Susana.

Spanish Hot Properties are one of the leading online real estate agents based in Spain selling property in Mallorca and Spain. From the best deals in the Balearics, to the cream of costa del sol property for sale, the team at Spanish Hot Properties can help you take advantage of falling Spanish property prices , contact http://www.blogger.com/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/OLKC679/www.spanishhotproperties.com.

Dona Julia Golf Property €199,000

2009-01-05T05:39:00.000-08:00

Dona Julia Golf Property now as low as €199,000 with Spanish Hot Properties

You can now have your own slice of an oasis in Costa del Sol in Spain with Dona Julia Golf property as low as €199,000. Spanish Hot Properties, experts in finding the best properties in Costa del Sol, is offering this amazing credit crunch busting deal considering most properties sold in Dona Julia golf resort have been sold well in excess of €300,000 in the last couple of years.

The properties in question have a unique position on the Dona Julia golf course being located next to the 5-star Grand Luxury Park Hyatt Casares Hotel which is currently under construction with completion now expected in 2010 and it is highly likely that when the Hotel is completed that there could be a property value enhancement on these excellent homes.

Dona Julia golf is one of Andalucía’s little treasures with stunning scenery and excellent location being only 10 minutes from Sotogrande, 15 minutes from Puerto Banus, less than 30 minutes from Gibraltar Airport and under an hour from Malaga airport. Besides being a stunning Golf course all the properties on the golf course offered for sale by Spanish Hot Properties offer excellent quality and excellence and due to the credit crunch have now come into the affordable range of so many more people who never thought they would be able to afford such luxury and decadence.

As a special incentive to all property buyers who reserve a Dona Julia Golf property before 31 January 2009 Spanish Hot Properties will pay those clients Spanish legal fees in relation to buying of those properties.

Spanish Hot Properties are one of the leading online real estate agents based in Spain selling property in Mallorca and Spain. From the best deals in the Balearics, to the cream of costa del sol property for sale, the team at Spanish Hot Properties can help. For more information on Dona Julia Golf Resort and to confirm your interest, contact http://www.blogger.com/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/OLKC679/www.spanishhotproperties.com.

Spanish Hot Property End Of Year Report 2008

2008-12-29T06:53:00.000-08:00

Spanish Property End of Year Market report 2008 from Spanish Hot Properties

Property in Spain could represent incredible value for property buyers in 2009 according to the Spanish property experts, Spanish Hot Properties. There is lots of gloom and doom especially with the recent news that a new statistic from the Ministry of Housing helps to show that the Spanish property boom is definitely over. The number of transactions involving resale properties is back to the pre-boom low, with sales falling 47% to 178,000 in the first 9 months of the year, compared to 339,500 in the same period last year. The fall is even more pronounced if you just look at transactions in the third quarter, when there were only 45,400 home sales in all of Spain.
Sales of newly-built properties have been holding up much better, down only 16% in the first 9 months of the year. This is little comfort for developers, however, who have seen an almost total collapse in new sales contracts, which will show up in the Ministry’s figures during the course of next year. Overall, Spanish property sales are down 33% year on year. Meanwhile, the international ratings agency Standard & Poors has forecasted that Spanish property prices will fall 30% peak to trough, saying that this will be the worst property crash for Spain since the 1970s. According to official figures prices peaked in the last quarter of 2007, and S&P doesn’t expect the market to turn around before 2010. However this news should be seen as an opportunity for those in a position to buy

As Spanish Hot Properties Managing Director explains “Demand for property in Spain declined considerably throughout 2007 but we have seen a considerable increase in real interested property buyers looking to take advantage at some point in 2009 with buyers in EIRE not having to deal with exchange rate problem having the best opportunity to get a real deal in 2009. However there won’t be enough sales to sustain the really big agents who have huge overheads but the ethical professional agents who look after there clients should have a good year in 2009 and be in a very good position to be the people to deal with in 2009” confirmed Nick.

So going into 2009 property buyers looking for Costa del Sol property, Homes in Costa Blanca North and Mallorca property should who are in a position to buy should really be able to take advantage of the doom and gloom current effecting the Spanish property market.

To find out more about the Spanish property market in 2009 contact the Spanish property experts Spanish Hot Properties.

Spanish Property for Sale with Cash Back from Spanish Hot Properties

2008-12-23T04:59:00.000-08:00

Spanish Property for Sale with Cash back from Spanish Hot Properties

The new property bargain and incentives for Spanish Property purchasers has just been taken to new heights with fantastic Christmas incentives for those wishing to take advantage of the current Spanish property market in Spain so says Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties. “Its absolutely true there are no strings attached to our Christmas offer that benefit all our buyers and our Christmas Cracker runs up to 21 January 2009 for all clients who reserve a property before the closing date and some lucky people will be getting as much as 3% cash back from Spanish Hot Properties confirmed Susana.

So what is so special about this particular offer and how can a company like Spanish Hot Properties offer such great incentives for buyers in an already hugely competitive market. ”It’s quite simple really in that we at Spanish Hot Properties do not have the overheads that some of the so called major agents have which gives us two massive advantages over our competitors is that we are able to offer Christmas promotions like this one and still make a profit but most importantly we don’t have to advise a client to buy a property to keep our business going and therefore never ever have a conflict of interests and can keep 100% to our mission statement and business philosophy of look after our clients and they will look after us” . Susana explained further.

So how does this Cash Back offer work then? it’s really quite simple in that Spanish Hot Properties have special deals on special projects that already have 25% to 40% discounts from last years prices and we have decide to let our clients get a major benefit from our commission. The commission must be seen as present and a bonus and not an incentive to buy one property over another and that is why we never let the client know the Cash Back bonus until they have decided on a certain property. The cash back is between 1.5% and 3% and Spanish Hot Properties give a full cash back certificate once a client has reserved a property. Obviously the cash back is only payable if the property sale progresses to completion. All a client has to do is agree to buy one of the special promoted before January 21st 2009 and pay a reservation deposit to take that property off the market it really is that simple” said Susana.

Costa del Sol property, Mallorca homes, Costa Blanca South real estate and property in Costa Blanca North are all featured in this promotion.

Anyone who is seriously interested in find out more about this fantastic Christmas Cash Back promotion should contact Spanish Hot Properties to register their interest.

Costa del Sol Market Report December 2008 from Spanish Hot Properties

2008-12-18T02:16:00.000-08:00

Costa del Sol Property Market Report December 2008 from Spanish Hot Properties

As 2008 draws to a close and the sterling exchange rate impact further on an already depressed Costa del Sol Property market how will things go in 2009? The oversupply of Spanish property at the bottom to middle end of the Costa del sol property market hasn’t got any better and the saying at the beginning of the year that it’s a good time to buy and a terrible time to sell has just compounded itself and for the majority of people its not good news explained Nick Stuart managing director of Spanish Hot Properties, Spain’s number one internet based real Estate Agency. According to Nick there are two very positive things to look for in 2009 that may help a little bit, the first being the first sign that investor groups have targeted 2009 as the year to take there pick of great value property investments and the second being that the price that UK owners of Spanish property can accept for there property if they intend to move back to the UK is considerably less than 12 months ago with the current rate of exchange. Nick explained “for the first time we are getting genuine enquiries from property groups and funds who see 2009 as the best year to move in and like all good investors they don’t wait for everything to hit rock bottom before moving in but nearly rock bottom and 2009 seems to be that year if our enquiry level is anything to go by. Also with the exchange rate being so low some UK citizen who need or want to return to the UK can afford to take 30% less than 12 months ago and still be better off in sterling terms a good example of this was Davie and Alicia Jones who had a sale fall through 12 months ago for their townhouse at €400,000 which would have equated to 275,000 in sterling terms but could now accept €310,000 and be no worse off in sterling terms”.

With Spanish bank repossessions likely to grow in 2009 it is highly unlikely that Spanish property prices will start to increase until 2010 and the reality is that more and more fantastically priced property will come to the market in 2009.

So going into 2009 it is most definitely a buyers market but due to the wide choice it makes sense to deal with a profession property agent who has its client’s interests at heart. “Spanish Hot Properties don’t believe in subsidized Discovery trips for the obvious reason that it’s not in the client’s interest and at the end of the day all expenses have to be found from somewhere. When making an investment in excess of €175,000 it makes sense to be able to have the time to make the right choice and not be under pressure from someone who may be under pressure to make a sale to keep his job. Most professional companies in the current market will pay the cost of your trip if you end up buying from them so it’s much better to take control yourself and work with an agent that has your interests at heart” explained Nick

Anyone wishing to contact Spanish Hot Properties can do so via phone or online at http://www.spanishhotproperties.com/.

Property in Spain Investment Overview from Spanish Hot Properties

2008-12-18T02:13:00.000-08:00

Property in Spain Investment Overview for 2009 from Spanish Hot Properties

Well it’s been a truly horrible year for the world property markets and not just Property in Spain. However Spain has been hit exceptionally hard due to the extremely high percentage of property owners and buyers that originate from the UK and the impact they have on the International property market here in Spain and the current Sterling to Euro exchange rate seems like the final nail in the coffin to some developers and must sell home owners here in Spain, well that’s the view of Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties. “Right now there are a lot of depressed people here in Spain who just cant see things getting any better and to a degree they are right but there are some real positives for 2009 for those property buyers and investors who are in a position to buy with prices coming down to such a level that in 2009 you will be able to buy certain properties and especially new properties at a price you couldn’t build them for once you have factored all the costs in. With more and more bank repossessions coming onto the market it is very unlikely that you will see an upturn in Spanish property prices in 2009 and it will probably be 2010 before you really start to see the market moving in a positive direction” explained Susana.

So the next big question for Investors is where to invest in Spain? Do you buy where there is truly incredible value in places where there is a huge oversupply of property, places like Costa del Sol and Costa Blanca with certain properties costing less than it would cost to build today or do you invest in places such as Mallorca where the price drop has been far less and on paper represents less value for money but due to the forward thinking local government with much less oversupply of property it is more likely to see a rise in these property prices before the prices increase in the Costas but the starting price per square meter is likely to be higher and therefore less gains are likely to be achieved. According to Susana Suspenda these are difficult decisions but the investor is fortunate to have such a choice and different investment fundamentals to take into consideration before making a decision. “Right now you can buy a brand new Apartment near Puerto Banus for €200,000 that was over €350,000 less than 6 months ago, however in Mallorca you can buy a brand new Apartment in Mallorca at a similar price that was €260,000 some twelve months ago. Its fairly clear which one is the better value but for investors value is only one of several considerations before deciding to invest and probably more importantly for investors its about there own investment strategy including simple things like income and growth” explained Susana.

Spanish Hot Properties through there Investor club and Spanish bank repossessions & distressed sales initiatives have provided and continue to provide with the information and support needed to make the right investment choices in a market that offers great opportunities as well as great pitfalls in 2009

Anyone interested in finding out more about buying property in Spain in 2009 should contact Spanish Hot Properties either by phone or by email.

Spain Finally getting to grips with the Spanish property market

2008-12-05T12:36:00.000-08:00

With the news from the the Ministry of Development that Spanish Planning approvals fell by 59% in the first 9 months to the end of September coupled with the news that New housing completions in the first 9 months of the year are down compared to the same time last year is this good news for the Spanish property market?

As for Spanish planning approvals there were just 215,315 planning approvals in the period, compared to 526,977 in the same period last year. Taking just the month of September, planning approvals fell by 63% on an annualized basis, but rose by 49% compared to August of this year. Planning approvals for detached homes were down 46% to 43,500, compared to 80,750 in the same period in 2007. With the trend downwards and with first time housing completions have fallen year on year since the construction boom was kicking off in 2001 this may allow some of the excess housing stock to be taken off the market. Between August and September of this year 471,130 new homes were finished, compared to 475,005 in the first 9 months of 2007, all according to new figures from the Ministry of Development. If the downward trend continues, the year will close with fewer homes built than last year, when a record 641,419 new homes were completed in Spain. Given the severity of Spain’s property crash, any reduction in the number of new homes coming up for sale is good news for a market already suffering from a monumental glut of newly built homes and excessive resale properties. Despite the possibility of a small annualized reduction in the number of new housing completions, a mindboggling number of new homes- around 600,000 - will be finished in 2008. But with planning approvals down and the trend moving towards less building completions this has to be a good thing for the Spanish property.

So hopefully this is a bit of positive news and as long as this trend continues this is a good sign for the Spanish property market, well that is the opinion of Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties. “it’s a start in the right direction and does tend to support our view that if you buy at any time in 2009 at the depressed prices you will do very well indeed long term as the slack starts to be taken up by people migrating to Spain and its our view that from 2010 the market will stabilize as to when property prices start to increase that is anyone’s guess but the price of some new build properties no is less than it would currently cost to build if you took all the costs into consideration. So for those lucky enough to be in a position to buy during 2009 they will be do very well” claimed Susana.

Anyone interested in finding out more about how the latest news and how it could benefit you when buying property in Spain in 2009 should contact Spanish Hot Properties either by phone or by email.

Spanish Property Market Update from Spanish Hot Properties

2008-12-02T15:13:00.000-08:00

Property in Spain Market Update from Spanish Hot Properties

It’s been a very interesting week to date with surprise surprise all bad news with the current Sterling and Euro exchange rate seeming like the final nail in the coffin for the Spanish property market, well from UK property buyers at least.

With a recent report that recent sales of newly built homes outnumbered resales for the second quarter in a row, which is unusual. The report points out that this is due to long sales cycles in the new build sector, so today’s completions were probably originated in better times. Developers’ new sales have collapsed this year, On a quarterly basis, comparing activity in the 3 quarter to the preceding one, property sales fell by 8.6% overall, breaking down into -3.6% for new build, and -13.13% for resale. In the year period to the end of September there were 610,052 property transactions, down an annualized 26.55%, with resales down 36.31%, and new build down 13.36%. The market shrank in all but 3 of Spain’s 50 provinces, with coastal regions taking the worst beating as the holiday home sector implodes. Tarragona province, in Catalonia, suffered the most ( -47.5%), followed by Girona (-42.8%), Barcelona (-42.5%), The Balearics (- 39.4%), and Alicante (-33.9%). With the Balearic Islands figures coming as the most major surprise.

There was more bad news if not unexpected news that after months of desperate maneuverings to try and avoid bankruptcy, the Spanish developer Habitat has finally thrown in the towel, filing for administration this morning in Barcelona. With debts of 2.3 billion Euros, Habitat is the second largest developer to be forced by financial problems to seek protection from its creditors this year, after Martinsa-Fadesa. Barcelona-based Habitat, run by Bruno Figueras, just managed to avoid bankruptcy proceedings back in February, when local bankers and politicians managed to arm-twist reluctant foreign lenders into agreeing to new repayment terms which Habitat we unable to keep to. Given the state of the market, however, it is hard to see how the company will emerge from administration. Far more likely is that the company’s assets will be sold off to pay back creditors.

On a more positive note The European Parliament (EP) today released the first draft of another damning report on Spanish ‘land grab’ laws and urban planning practices that threaten property rights and the environment. There were also calls from the EP for a moratorium on all unsustainable new developments, and threats to cut off EU structural funds unless Spain puts and end to its abusive property practices. In a further threat to Spain’s access to EU money, the draft also points out that the European Commission can demand the return of funds if they have been used to finance projects that go against EU rules. It calls on Spain’s national and regional governments to “carefully review all the legislation concerning property rights to put an end to the abuse.” The lack of clarity, precision, and legal security in Spain’s existing urban planning legislation is behind most urban planning abuses in Spain, argues the draft report. It also worries that Spain’s judicial system is incapable of dealing with the problem.

So with all the negative news what does 2009 hold in store for the Spanish property market, well according to Nick Stuart, Managing director of Spanish Hot Properties “a very positive one for those buying in Spain or with EU currency Zone especially when buying from British owners who want to return to the UK who now find there Euros are more valuable when converting back to sterling thus allowing them to drop there price even further”

Anyone interested in finding out more about how the latest news and how it can benefit you buying property in Spain in 2009 should contact Spanish Hot Properties either by phone or by email.

Costa Del Sol Property Boost

2008-11-26T08:29:00.000-08:00

Costa del Sol Property Market Boost Thanks to Malaga Airport

Well it’s been a pretty interesting year to date with the current credit crunch adding further fuel to an already depressed market. The oversupply of Spanish property at the bottom to middle end of the Costa del sol property market hasn’t got any better and with the current UK exchange rate to the Euro you would think it would be a very depressing time however for your businessman that doesn’t have to be in the office every day of the week the expansion of Malaga airport and the places you can now fly too is making Costa del sol a very attractive place to be so says Nick Stuart Managing Director of Spanish Hot Properties. “From Malaga you can now fly directly to the following destinations Geneva, Milan, Rome, Paris, Stockholm, Amsterdam, Dublin, Belfast, Oslo, Berlin, Munich, Basel, Dortmund, Hamburg, Frankfurt Mallorca, Bucharest, Madrid, Barcelona Brussels and all the UK major and minor Airports. The majority of these destinations are supplied by low cost airlines meaning that any businessman with business interests in Western Europe can easily make Costa del Sol there base to live and work from. Also when once the airport expansion is fully complete Malaga will be able to cope the Big Airliners and you will see a large increase in destinations and travel between North and South America” said Nick

So how do all these new destinations help the Costa del Sol property market? A good example is the case of Finbar O’Shay a builder businessman from Dublin in Ireland who has business interests in both Ireland and Romania and with modern communication technology doesn’t need to be on site all the time and maybe has to fly on business once every two weeks or so. From Malaga he can get to Romania and Ireland very easily and at a reasonable cost and is now looking to live in Marbella full time to enjoy a better quality of life explained Nick. Coming from Ireland Finbar has the best of both worlds in that his income is already in Euros and therefore doesn’t have to deal in the consequences of the current Sterling exchange rate but if he buys a property from a British owner who wants to return to the UK he knows that Owner can afford to drop by 30% as he intends to convert the currency back to sterling and in real terms he will get the same sterling equivalent if he had sold a year ago.

With more and more northern Europeans getting fed up with there own Countries and wanting a quality lifestyle that one can get in Costa del Sol then the increase in choice of routes from Malaga airports is a real positive bonus claimed Nick. “However Finbar is not the only one to benefit business professionals providing IT, Licensing, Consultative services and Property services can all benefit from the current price of property in Costa del Sol and the benefits that Malaga Airport now brings to the Costa del Sol” Nick Said.

Anyone interested in finding out more about relocating to Spain and acquiring great value property should contact Spanish Hot Properties via phone or online at http://www.spanishhotproperties.com/.

Property in Spain Market Report November 2008

2008-11-21T12:12:00.000-08:00

Property in Spain Market Report November 2008 from Spanish Hot Properties

Its been a very interesting and difficult year to date for the Spanish property market with the Mediterranean Costas feeling the worse of a depressed market and the Balearic Islands tending to get the best of it according to Nick Stuart managing director of Spanish Hot Properties SL. “Everyone knew that this year was going to be a bit of a struggle but no one could have foreseen the collapse of UK and American banking systems and the world wide crisis that has only made things worse for Spanish property” explained Nick

“Even up until May things seemed to be on an even keel with the likes of Mallorca not even feeling the pinch of the Spanish property downturn and banks were still keen to lend. Mallorca has always had a huge advantage over the Spanish Island for several reasons with the two main reasons being the restricted planning laws and Mallorca not really having an over supply issue like they have in Costa del Sol and Costa Blanca. Things started to really bite during the summer months and even property bargains started to appear in Mallorca for the first time in a very long time. Then with the events outside world impacting even further on property in Spain things have turned quite bleak and outlook for the majority in 2009 is not particularly encouraging” Nick explained. “It’s a very strange world when your money is safer in a Spanish bank than a UK bank, I personally never thought id see the day” said Nick

A recent report stated that Spanish property prices need to fall by 23% to bring housing affordability back to its long term average, and return the market to normality, argues a new report out today from property consultants Aguirre Newman. The report asks how much average Spanish property prices have to fall to bring the cost of housing in line with the long term average of 30% of household income. Assuming mortgage financing of 70% for 30 years with a rate of Euribor (4.5%) plus 0.5%, for a property of 75m2 and a disposable annual household income of 21,259 Euros, the report concludes that prices must fall by 23%. Obviously this is just one report but for the Mediterranean Costas the future is even more bleak. The price of property on the Spanish Mediterranean coast, not including social housing, fell by 8.9% over 12 months to the end of October, according to the latest price report from Tinsa, one of Spain’s leading appraisal companies. As was to be expected, the cost of property on the coast fell more than the national average, which was down by 6.5% in a year. Coastal areas tend to be dominated by the second home market, which traditionally more in an economic downturn. Property on the coast is also suffering from a strong Euro making Spanish property more expensive for British buyers. The report focuses on primary housing, so the conclusions do not necessarily apply to prices for second homes, especial in coastal areas. Second homes are a luxury that tend to suffer more than primary housing in economic downturns. Price declines of close to 9% will not come as a shock to the holiday home market in Spain, which previously had enjoyed years of surging. According to Tinsa’s house price index, coastal property prices rose by more than 20% in 2002, 2003, and 2004 and by double digits in 2005 and 2006, before falling to 2.8% in 2007. Prices in the Balearics and the Canaries held up better than on the mainland, falling by only 5.4%. Prices in Spain’s main cities fell by 6.7% and by 7.6% in other urban areas.

So what does this mean for Spanish property buyers and sellers going into 2009? “Nothing has really changed its just compounded itself in that it is even more of a buyers market and even a worse time to sell” claimed Nick. “Some developers are now cutting there prices by as much as 40% to sell and if you want to buy a one or two bedroom apartment on the Mediterranean Costas then 2009 is the year to do it as long as you make sure you are getting the property bargain you should be getting. The market will drop further in 2009 but the opportunity to pick up Spanish properties at incredible prices will be at its greatest” confirmed Nick

Anyone wishing to get the right advice about buying Spanish property in 2009 should contact http://www.spanishhotproperties.com/.

Costa del Sol Property Market Report October 2008 from Spanish Hot Properties

2008-11-11T18:15:00.001-08:00

Costa del Sol Property Market Report October 2008 from Spanish Hot Properties

Well it’s been a pretty interesting year to date with the current credit crunch adding further fuel to an already depressed market. The oversupply of Spanish property at the bottom to middle end of the Costa del sol property market hasn’t got any better and the saying at the beginning of the year that it’s a good time to buy and a terrible time to sell has just compounded itself and for the majority of people its not good news explained Nick Stuart managing director of Spanish Hot Properties, Spain’s number one internet based real Estate Agency. Mr. and Mrs. Jacobsen are a very good example of what Nick was eluding to. They have lived here in Spain since 2000 and bought here at the top of the market in 2006 in the Golden Valley just outside Marbella for €280,000 they find there two bedroom apartment currently valued around €220,000 and if they had to sell in a hurry they would be lucky to get €180,000 for the there property which as Jens Jacobsen explained “We have no choice but to sit it out and all we can really do is rent the apartment out as we have to move to another town for work commitments”.

“Then you have an oversupply of newly built property with most Spanish property developers just putting there head in the sand and refusing to reduce prices to a level that people are prepared to buy at” explained Nick. “Obviously there is the resale market in which the people having to sell are most people who have no choice but to sell and unlike the Costa del Sol property developers they cant afford for the market to come back to what it was” continued Nick

So what does this mean for the Costa del Sol Property Market as we head towards the end of 2008. It’s the usual story of someone else’s loss being someone else’s gain and whilst the majority will have to struggle the people who are in a position to buy have never had it so good and with the market showing no sign of a return it should remain a buyers market right through 2009, well that’s Nick’s opinion anyway. “Finally property developers are starting to follow the lead of Taylor Woodrow Espana who cut there prices by a minimum of 25% from there 2007 prices back in August and were the only Spanish property devloper to actually sell a reasonable number of units in 2008 because the value to the purchaser made sense and in reality is even if the market was to drop they would still be in a very good position with there purchase. Now other developers such as Union Seis and others are beginning to follow suit where luxury apartments that were priced at €350,000 can now be bought for €240,000” Nick explained further.

The resale market also offers incredible value at present with the difference between a resale and a newly built property that hasn’t been discount being no more evident than in La Quinta Golf where you can buy a resale for under €220.000 but brand new apartments were sold for €495,000 this year.

So going into 2009 it is most definitely a buyers market but due to the wide choice it makes sense to deal with a profession property agent who has its client’s interests at heart. “Spanish Hot Properties don’t believe in subsidized Discovery trips for the obvious reason that it’s not in the client’s interest and at the end of the day all expenses have to be found from somewhere. When making an investment in excess of €175,000 it makes sense to be able to have the time to make the right choice and not be under pressure from someone who may be under pressure to make a sale to keep his job. Most professional companies in the current market will pay the cost of your trip if you end up buying from them so it’s much better to take control yourself and work with an agent that has your interests at heart” explained Nick

Anyone wishing to contact Spanish Hot Properties can do so via phone or online at http://www.spanishhotproperties.com/.

Costa del sol Property Bargain- First of Many?

2008-11-05T09:17:00.000-08:00

Costa del Sol Property Bargain – The First of Many?

With the current credit crunch this tends to be the time when people with money make money and those without don’t really get the chance to get a piece of the action due the oversupply of Spanish property at the bottom to middle end of the Costa del sol property market. However due to the Spanish housing market slump there is actually now a real property bargain in Costa del Sol that is there for everybody to take advantage of and easily the best deal this century for property buyers according to Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“Its quite simply the best deal I’ve seen since 2000, this development or real luxury apartments is 10 minutes from Puerto Banus, built to an exceptionally high standard with top quality fully fitted Kitchens, the best Porcelana Bathroom fittings, Home Automation, Air Conditioning, Heated indoor Swimming Pool, Gymnasium, Jacuzzi, Sauna, Paddle Tennis and many other luxurious features ” Susana explained further. The list price for a spacious 100m2 two bedroom apartment was €349,000 Euros but the developer has now discounted that by a massive 30% giving a price of €245,000 Euros with similar apartments selling for close to €400,000 a year ago. Spanish Hot Properties has also arranged with the developer a further discount for buyers who buy in November subject to special conditions that 90% of buyers should meet. Also there is a 70% developer’s mortgage in place which is quite unique in the current credit crunch. Anybody wanting further information about this unique opportunity should contact us immediately” said Susana.

The big question is will this be the first of many such brilliant deals for property buyers as we enter 2009 and the slump in the property likely to continue? “That’s the big question isn’t it” retorted Susana. “At Spanish Hot Properties the only new property we can recommend to our clients is property that has been discounted by at least 25% from last years price and up until now the Spanish developers have been very reluctant to do so and in all truth there haven’t been many to date but the one who have done so are not surprisingly the only Spanish property developers selling property in Spain. So in answer to the question no one knows for sure but my guess is there will be one or two great deals in 2009 and maybe some of the other companies will then see the only way to sell there stock is to discount by such margins. As for this development even if the market drops another 10% to 20% it still represents excellent value for any perspective purchaser who is in a position to complete” answered Susana. Susana Suspenda is the Marketing and Operations manager for Spanish Hot Properties.

Fuerteventura Property V Cape Verde Property

2008-11-05T09:16:00.000-08:00

Fuerteventura property – Why would you buy in Cape Verde?

Why would anyone want to buy property in Cape Verde was a recent question posed by Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“With the credit crunch and Spanish property market slump driving prices down almost to the same level as Cape Verde it could well be that people who were looking at buying in Cape Verde will now see Fuerteventura as a much superior option” questioned Susana.

“Fuerteventura is already well established in the property market, with the infrastructure in place. House prices have remained stable over the last 4 years and with down payments typical of around 20% on new property, as opposed to Cape Verde, which is still relatively new in the property market with very little infrastructure in place, prices haven't yet stabilized and with typical down payments currently between 60-80%. Fuerteventura has some of the finest white sand beaches anywhere in Europe and with under a 4 hour flight time from the UK and Ireland, as opposed to a 6/7 hour flight to Cape Verde. Same all year round mild climate with very little rainfall, very similar to Cape Verde weather. Fuerteventura is part of the EU, making property purchase simple and easy regarding paperwork requirements and with the currency in Euros, more attractive to the Irish market. Far more flights available at least twice a week from the UK and Ireland, with added airlines flying from various UK airports in the winter period, making it possible to visit Fuerteventura for a long weekend. All this with fantastically low property prices in Fuerteventura makes Cape Verde look increasingly unattractive” explained Susana.

Anybody wanting to find out more about Fuerteventura property should contact Spanish Hot properties for more information.

Spanish Bank Repossessions

2008-10-25T10:30:00.000-07:00

Spanish Bank Repossession’s and Distressed Property Sales in Spain

With the current credit crunch this tends to be the time when people with money make money and those who don’t mind taking advantage of people who are not coping to well in the current circumstances. Nowhere is this illustrated better than in the current Spanish property market in Spain so says Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

“So With the banks in Spain repossessing more and more properties people who are in financial difficulties are having to decide whether to take substantial loses on their properties or risk losing everything” explained Susana. “There is a big difference between the criteria between bank repossession properties and distressed property sales. Firstly bank repossession is a property that has been taken back by the bank through the courts and therefore has to be sold through the courts and as such it tends to be only cash buyers who are in a position to take advantage of buying at below 50% of valuation. Secondly distressed sales tend to be for a variety of reasons with the major one being the owner of the property needs to sell before the bank repossesses the property. These properties are still sold very quickly if they represent the right value but due to an increased time frame a purchaser can buy one of these properties with the assistance of a bank mortgage and in some cases a real distressed sale can be better value than a bank repossession” Susana explained further

“Spanish Hot Properties unlike most other companies will actually have properties listed on their websites with photos and details however the reality of the situation is that if the details are on a web site they most certainly wont be bank repossessions and are unlikely to be real value distressed sales because in normal circumstances they are sold in a very short time frame without actually coming directly onto the market. This is why Spanish Hot Properties do not list our bank repossession property and distressed sales onto our web site and contact directly those people who have expressed an interest in buying such properties” said Susana.

Anyone who is seriously interested in find out more about Spanish bank repossessions should contact Spanish Hot Properties to register their interest.

Dont buy property in Costa del Sol !

2008-10-23T12:05:00.000-07:00

Don’t Buy Property in Costa del Sol !

“So don’t buy Spanish property, especially in Costa del Sol property”, so who would make such a claim would it be an unhappy purchaser in Costa del Sol who’s had a bad experience of buying property in Spain, a spokesman for a property Watchdog action group or just plain old Mr. Negative who is having the time of his time in current situation we all find ourselves in. No unbelievably that’s the claim of the number one Spanish internet property company based in Andalucía, www.spanishhotproperties.com and their managing director Nick Stuart.

According to Nick “ Unless you are one of the lucky buyers who can buy a real distressed sale or a brand new property that has a genuine 30% reduction on the price of 12 months ago you should most definitely sit tight. Things are going to get a lot worse before they get better that is for sure with the full impact of bank repossessions is not as yet hitting the market. Some recent auctions have been bank repossessed property not making the bank’s reserve and the bank is now starting to get stuck with the properties from auction (known as Subaste in Spain) but at the present time they are holding out for the price of their mortgage but as more Repossessed property hits the market the reality is likely to be prices coming down further in mid 2009. The problem for some of the bigger agents on the coast is that they have to sell a certain number of properties every month which does beg the question if they can give customers the right advice and make their targets to stay in business. There is no doubt that there are still one or two bargains and must buy properties in Costa del Sol but probably not enough to support the who real estate industry in the area. However due to the low cost base of Spanish Hot Properties we can hand on heart say that we can do the right thing by our clients and unless it really is too good to not buy we can tell our clients to sit tight until 2009 or in the worse case scenario 2010.”

There is also support for Nick’s point of view from Javier Ortiz, finance director of the developer
Grupo Inmo, according to a recent article at the Spanish financial news website
elconfidencial.com. “Those who don’t sell for 25% to 35% less (or whatever necessary) will be buggered by an extra little problem: financial costs of 7% (Euribor plus 1.5% at best for new refinancing deals) on 80% of the cost of the property,” Ortiz is quoted as saying. “That means an additional annual financial cost of 5.6%. After 2 or 3 years the developer will have older homes - commercially damaged goods - and 17% more expensive, which means having to sell for 42% to 47% less in real terms.” But according to Ortiz, offering big discounts gets results. “Some of us promoters are prepared to sell flats with discounts of 30%. And when we drop prices, we find demand,” said Ortiz, whose company is selling 138 flats off-plan in phase 2 of a development in Alcalá de Henares, to the east of Madrid. The first phase of 1 and 2 bed flats was sold off-plan in 2005-2006 for between 3,300 and 3,500 Euros/m2, whilst the second phase is being sold for around 2,450 Euros/m2, which means flats of 60 m2 for 120,000 Euros.” Just buy putting up billboards on site with the new prices we have got 320 people on the waiting list,” explains Ortiz. “Those who bought before at a higher price are far from happy,” he admits.. “It’s nice to see some Spanish developers finally getting with the program” commented Nick.

With the very interesting comments of Beatriz Corredor, Spain’s Minister of Housing, who suggested that property prices were becoming “inaccessible for the salaries” of Spaniards and “It’s not a drama” if house prices fall and homes cost “what they are really worth” it is very obvious that one needs to get the help of an agent and advisors that you can trust when buying in Spain and one that has the interests of its clients at heart. So if would like real honest advice about how and when to buy property in Costa del Sol contact Spanish Hot Properties and see the difference for yourself.

Spanish property news Latest

2008-10-19T05:35:00.001-07:00

Spanish Property Good News?

The Spanish property market had some good news recently especially for the owners of Illegal built property in Marbella, Costa del Sol. The Mayor of Marbella, Angeles Muñoz, and the regional government in Seville have agreed to legalize, in the new town plan, another 200 properties that were formerly earmarked for demolition. This reduces the number of illegal homes in Marbella under threat of demolition from 700 to 500. Now included in Marbella’s new town plan - effectively a massive planning amnesty for some 19,000 properties illegally built over the last few decades - is the Jardines del Príncipe development of 81 apartments located on Marbella’s Golden Mile. The development was over-built by 40%, blocking the sea views of various neighboring properties, whose owners took legal action and obtained a demolition order for part of the development. Under the new agreement the promoter avoids having to demolish part of the development in return for ceding the bottom floor to the town hall. It’s a similar story with the Jardines de la Costa development in San Pedro, from the promoter José María Enriquez, implicated in the Operation Malaya corruption scandal. The development will be legalized in return for donating land to the town hall in a different part of the municipality. The decision to legalize 200 properties has been criticized by local politicians from the opposition Socialist Party. They claim it mainly benefits developers who took advantage of a corrupt town hall in the past.

In other news Average Spanish property prices rose by 0.4% over 12 months to the end of September, but fell by 1.3% in the third quarter, according to the latest figures from the Ministry of Housing. Taking into account consumer price inflation, which stood at 4.5% in September, the real cost of housing has fallen by 4.1% over the last 12 months. Newly built property prices rose by 1.7% over 12 months, but fell by 0.8% in the quarter. Resale or ‘second hand’ property, which the Ministry of Housing defines as more than 2 years old, fell by 0.3% over 12 months, and by 1.7% in the quarter. According to Tinsa, 75,000 new properties were sold in the second quarter of the year, the equivalent of 41% of the number of homes finished in the period, which drove up the inventory of new homes to 680,000. Tinsa estimates there will no more than 300,000 transactions in all 2008, implying that the stock of unsold new homes will rise to 930,000 by year end.Tinsa expects the inventory of new homes to keep rising into 2009, as construction on current housing developments finishes, and that it will take at least 2 years for the market to digest the housing overhang. This very much falls in line in how we see things at Spanish Hot Properties said Managing Director Nick Stuart. “The fundamentals are still very much the same that it is a great time to sell and a terrible time to buy and only developer who are prepared to make drastic price reductions will sell there properties especially in the 1 and 2 bedroom apartment market and its still a very difficult market” Nick confirmed

Spanish Developers losing the plot?

2008-10-13T10:57:00.000-07:00

Spanish Property Developers Finally Losing the Plot?

The Spanish property market was in shock at the recent comments of Guillermo Chicote, president of Spain’s Association of Constructors and Developers (APCE) that prices of newly built Spanish property would not drop any further. “Don’t anyone expect prices to fall 30% to 40%, because I’ll give them to the bank before that,” said Chicote, speaking at a conference yesterday. The developers have already adapted their prices to reality, but even so nothing sells,” Chicote went on to say. “The developers have already adapted their prices to reality, but even so nothing sells,” Chicote went on to say. Others would argue that if nothing is selling, it’s because prices aren’t yet realistic.

At Spanish Hot Properties Managing Director Nick Stuart was completely dumfounded by his comments. Nick said “I don’t know whether to laugh or cry but the guy is in cloud cuckoo land and I think someone should send him a Looney Tunes DVD for Christmas”. Nick explained further “The reality of the situation on the ground is completely different and its fairly obvious to us that New built property at the right price is selling and selling very well in a depressed market but those builders have reduced there prices by 30% from a year ago and buyers who are in a position to buy can see that the value is too good not to buy. However these developers are few and far between and when all those units have gone buyers will have to go back to the resale market to pick up a Spanish property bargain”

For advice on which property developers have substantially reduced there prices by 25% or more prospective buyers should contact Spanish Hot Properties.

Costa del Sol property bargain

2008-10-08T04:07:00.000-07:00

The best Spanish property deal in the whole of Spain is almost at an end according to Susana Suspenda marketing operations manager for Spanish Hot Properties.

As Susana explains “El Bosque de la Mairena near Elviria, Marbella have been selling extremely well so much so they only have 10 of 55 units left with the other 40 being sold within the last 4 months since the developers took 25% off last years price. So it just goes to show that for the right price, right quality and right location there is still huge demand for Spanish property in Costa del Sol. With prices as low as €173,000 Euros and the Spanish Hot Properties special enhancement its not a surprise that this development is almost sold out. My personal view is that the development will be completely sold out by December so buyers still wanting to get a piece of the best deal in Spain need to move very quickly indeed. The sit and wait clients have most definitely lost out in this particular case”.

So is that the end for property bargains in Costa del Sol or will there be similar must buy deals in the future?

Costa del Sol Property ¨Crisis

2008-09-28T07:30:00.001-07:00

Costa del Sol Property Crisis

With the Costa del Sol property market supposedly in crisis why is there a shortage of Spanish property at the top end of the market in Costa del Sol. Supposedly it’s now meant to be a terrible time to sell and fantastic time to buy but it’s very difficult to find property bargains in Costa del Sol in the €1 million and above price range.

Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties explains “there is a huge oversupply of one and two bedroom apartments in a depressed market so much so you can get some fantastic buys if you’re a a cash buyer and don’t have property to sell. Even when you start to look for 3 Bed apartments the choice begins to get a lot less and once you start to get over €900,000 its quite difficult to find good quality property that you would want to buy at a discounted price taking into consideration the current market. This was recently bought home to us by a recent client who had €25 million to spend and wanted to buy Villas between one and three million Euros but wanted to get at least 25% discount off the marked value which he thought was reasonable in a depressed market. However because there isn’t an oversupply of good quality property that you would want to buy at this price point it has proved quite difficult to help this client out. However if he chose to invest his money in 1 and 2 Bed Apartments we would have no problem getting him 35% off current market values with exceptional qualities.”

One question from all of this is why the developers built so much 1 and 2 bed properties and did not build houses that people wanted to buy and where there was shortage in demand for.

Costa del sol has major plus factor in that is has over 320 days of sunshine a year and is still the preferred destination for most overseas property buyers wishing to relocate to Spain However it will be at the €150,000 to €300,000 where the bargains will be found. If you’re rich then you’re probably not too concerned that you won’t get a property bargain at the top end of the Costa del Sol property market.

Spanish property developers in price war

2008-09-24T05:03:00.000-07:00

Spanish Property Developers in Price War

These are difficult time and developers are now desperate for sales. This means the most seductive offers we have seen in many years, and the most aggressive marketing campaigns. However can attractive marketing alone persuade us to invest in houses in such desperate times?

The latest sales techniques were unveiled recently at the Property Salon in Madrid (SIMA), and they give us some idea of the lengths to which the developers and promoters will go in their efforts to unload houses on us. Lotteries, gifts, discounts and easy payment facilities were being offered to attract the attention of the buyers at the SIMA fair, and they reflect the state of the market at this time. Spanish Property prices are falling all the time, and this is good news for buyers, especially first-time buyers. This is a positive aspect of falling house prices, in a market in which price negotiation and additional incentives played no part in the recent past. As the saying goes it’s a fantastic time to buy and a terrible time to sell so if you’re a first time buyer you don’t have to worry about selling first.

Some companies are now offering to pay the mortgage for two years in full so the buyer has no commitments but obviously the most important thing for the buyer is to make sure he has got a great deal to start with. Some companies are also giving cash back as well up to 10% of the purchase price.
The Salón Inmobiliario de Madrid (SIMA), the property trade fair that ended last week, has become one of the biggest shop windows for developers and property promoters on the Costa del Sol and the province of Malaga. Companies represented in this fair this year have offered a total of over12, 000 properties in the Malaga area, making this province the biggest in house sales after Madrid itself. The figure amounts to 11% per cent of the total offer at the trade fair, which had over116, 000 new houses for sale at the fair.
Most of the houses for sale in the Malaga area were along the coastline, with Mijas in the lead with 1,780 properties). It was followed by Vélez-Malaga, with 1,690 houses, Estepona with 1,641, Manilva with 900 and Benalmádena with 795. Apartments located in the province were offered by 21 companies, of which only two have their headquarters in Malaga.
However Nick Stuart Managing Director of Spanish Hot Properties says “ Clients should be very wary of such offers and look at the fundamentals before being enticed to buy. There are some developers offering no gimmick real discounted new properties with prices 30% lower than a year ago and those are the properties that Property buyers should be looking at”.

Spanish Property & Government Property Help

2008-09-19T12:46:00.000-07:00

Spanish Property & Government Property Help

Spanish property is unlikely to be affected by the latest measures by the Spanish government to revive the country's flagging property market claims Nick Stuart of Spanish Hot Properties.
Spanish developers struggling to re-finance their debts will have access to a €3 billion credit line from the Institute of Official Credit, a government agency, if they put unsold property up for rent, it was announced.
The government is also introducing real estate investment trusts (REIT) to try to boost property investment.
Nick believes these are 'half baked measures' and do not go nearly far enough to help the industry but every little helps but only time will cure the Spanish property market as a whole and the current market represents a fantastic opportunity for those buyers who don’t have to sell to buy.
'Given the hundreds of billions of Euros of debts accumulated by developers in recent years, fresh funding of €3 billion is a drop in the ocean that is unlikely to make much of an impact and only a complete over hall of the Spanish system and how Spanish banks fund projects in Spain would be sufficient' he said.
However the move has been welcomed by the developers associations who say it will help keep some developers going.
The other downside of the measures is that many of Spain's 500,000 unsold properties are holiday homes on the coast and they will not qualify for the credit scheme.
Spanish REITs are unlikely to appear anytime soon, given the complexity of these investment vehicles, the legislative changes required to introduce them, and the slow pace at which the government is likely to move.
The government's new measures may do nothing more than give breathing space to a few favored developers at the tax payers expense and only when the real issues of the current system are dealt with that anything substantive and meaningful would be achieved.

COSTA DEL SOL PROPERTY & THE STERLING EXCHANGE RATE

2008-09-04T10:22:00.000-07:00

Costa del Sol Property and the Sterling Exchange Rate

Costa del Sol property currently represents some of the best value property in Spain and mainland Europe especially when considering the current Spanish building costs, Cost of Spanish land and associated infrastructure costs such as Legal fees, architects costs, and communal add ons such as swimming pools, lighting and roads. In some cases you can now buy properties for less than you could build them for when considering the total costs of building that property in today’s market.

There are many factors for the current low price point of Costa del Sol property including over supply of properties, the credit crunch, downturn in overseas property markets and many more but the one factor above all affecting UK citizens from buying Spanish property is the current value of sterling compared to 12 months ago so says Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties. The difference from an exchange rate of 1.45 to 1.23 makes the same Spanish Property at the old rate of exchange 17% more expensive to UK buyers but obviously if you come from the Republic of Ireland this wouldn’t be a factor. With UK property buyers making up the largest percentage of overseas property buyers in Spain this obviously hasn’t helped the property market in Costa del Sol.

Susana says “every cloud has a silver lining and UK buyers are now beginning to see that for themselves in that certain owners are developers are cutting the price of their properties by as much as 30% meaning that even when you take the cost of the exchange rate buyers are still 10 to 15% better off than they were a year ago. The other factor the UK buyers have to consider is will the Pound ever return to the same exchange rate level or will it continue to fall as the Euro has proved to be one of the strongest and safest currencies in the world today”

Property buyers wishing to take advantage of the excellent discounted properties in Costa del Sol should contact Spanish Hot Properties for more information and advice on the subject.

Spanish Property

2008-08-30T05:57:00.000-07:00

Spanish Property & Off Plan Bank Guarantees

With the recent news that the Bank of Spain is investigating a host of complaints from property buyers that certain lenders are developers are breaching consumer protection laws by stalling or refusing to honor guarantees for off-plan properties obviously the question arises how to protect oneself.
These include banks and insurance companies. They issue guarantees that are meant to protect the money of people who buy off plan or under construction, and are required by law. If the developer goes bust or breaches its contract buyers can claim back their money, with legal interest of around 6%, from the financial institution underwriting the guarantee. It’s not just small developers under investigation, Martina-Fadesa, one of Spain's largest listed developers, which recently went into administration. It is accused of failing to provide bank guarantees for many of its clients.
Nick Stuart managing director of Spanish Hot Properties says “that are some very basic but very useful tips to avoid some of the problems that other Spanish property buyers have encountered. Firstly and most importantly you need to find a professional agent with local knowledge that you can trust and if you have doubts about an agent who you don’t feel you can trust 100% then go and find an agent who you can trust 100%. Secondly that agent should then introduce you to a top quality lawyer who has vast experience in Spanish off plan property, this is very important as you may have friends who reckon their lawyer is fantastic but they might not have the relevant experience in dealing with new Spanish property developments. Thirdly in consultations with your agent and lawyer check the developer out for example we only deal with top quality developers like Taylor Woodrow Espana, Sotogrande SA and Alanda Homes who have a proven track record in building quality home on time to a high quality whilst this won’t full protect you it will certainly help. It’s all pretty basic and obvious stuff but you would be amazed how many property buyers don’t adhere to it”
Spanish Hot Properties offer a free legal service to all its Investor Club members.

Taylor Woodrow Espana & Spanish Hot Properties SL

2008-08-23T03:56:00.000-07:00

Taylor Woodrow Espana & Spanish Hot Properties SL

Hard to believe but its true Taylor Woodrow Espana has reduced the price of all its new properties by as much as 30%. The value this represents is truly unbelievable even in the current Spanish property climate. The value is so good that not even another builder could build the properties for that price based on today’s land prices and total build and infrastructure costs. Not surprisingly Taylor Woodrow are one of the few if not the only developer selling a substantial number of properties in Spain in a depressed market.

Spanish Hot Properties have come to an agreement to make all Taylor Woodrow’s Spanish property available to it’s customers with a special enhancement. As Susana Suspenda Marketing and Operations Manager of Spanish Hot Properties explains “If Taylor Woodrow were prepared to reduce their prices to give our clients such great value we felt duty bound to enhance the product which we have done through our free legal fee scheme on all Taylor Woodrow properties. We will pay the legal costs for any person who buys a Taylor Woodrow home through ourselves up to a maximum of 1% of the total cost which is the standard legal fee costs here in Spain. This is really the icing on the cake for customers with prices as low as 173000 Euros for Costa del Sol property, 198000 Euros for Mallorca property and an Incredible 135000 Euros for Costa Blanca South property”.

Anybody wishing to find out more about Spanish Hot Properties special free legal fees Taylor Woodrow property scheme should contact Susana at Spanish Hot Properties.

Is Spanish Property really now cheaper than Morocco Property.

2008-08-16T07:17:00.000-07:00

Is Spanish Property really now cheaper than Morocco Property.

Why would anyone want to buy property in Morocco was a recent question posed by Susana Suspenda the Marketing and Operations manager for Spanish Hot Properties.

So why did so many people invest in Morocco property, was it firstly because they loved Morocco so much and saw it as much better place to live than Spain?, secondly they couldn’t afford to buy in Spain and Morocco was in their price range or lastly they just saw it as a good property investment in an emerging property market.

Most Morocco property buyers fell into categories 2 and 3 but unfortunately those who fell into category 3 are now having problems realizing their investment with the Morocco government making it very difficult for overseas investors to get their money out of the country which obviously is not a problem when you invest in property in an EU country like Spain.

The next thing you need to do is analyze the Spanish property market and you see a stable Country that has overbuilt property and at the present time Supply outstrips demand. Then you have to look at what you can buy property for in the current market and decide is this a good investment and am I at the bottom of this market when I buy?

Now obviously when making a comparison with Morocco property and Spanish Property you really need to compare like with like and therefore you need to compare new build with new build. Some people to make Spain look more favorable have compared the selling price of an old Spanish Property to a new Morocco property which is an unfair comparison due to the better qualities of new build property.

So now lets look at the prices of a new development in Morocco and for example look at El Oasis de Marrakech where one Bed apartments start at 101000 Euros. If you then do the comparison of 2 Bed 98m brand new townhouse in Rojales, Costa Blanca South at 135000 Euros you can now see that there is very little between them. However to do a fair comparison you really need to work out the price per square meter. The two Bedroom Townhouse is 98m built which gives a price per sq meter of 1377 Euros. Then with the average size of a Morocco 2 bed apartment being around 60 meters giving an average price per sq meter 1683 Euros. So in answer to the question posed yes some brand new Spanish property is actually cheaper than property in Morocco. When taking into consideration that Spain is in the EU where would you prefer to own property.