Much has been spoken about Spain being in trouble. The UK press loves bad news and so announces stories with the same morbid glee that it would, I am sure, announce the end of the end the world. When one of the small regional banks in Spain was bailed out two weeks ago by The Bank of Spain, the British press ran the typical "Yet another Spanish bank..." story. Yet the bank in question accounts for less than 0.6% of the Spanish banking system. Spain is all about regions and small local banks as well as high street...
Today Compass Amazing Resorts has made a general request for property owners in The Costa del Sol who wish to sell their properties to contact listings@amazingresorts.co.uk. In this way property owners can see their property on offer in more than 500 UK high street branches thanks to the affinity partnership that Compass Amazing Resorts shares with the estate agents Your Move and also Reeds Rains. This is the first time in more than 18 months that Compass have opened up listings in this way and is a result of...
The currency news for yesterday, June 2nd, was encouraging for overseas property buyers. The pound sterling was at 1.1957 against the Euro, a huge jump from the 1.10/1.11 levels of the past semester. What does this mean in real times for a customer looking at property in Spain or Portugal? Let's say you were looking to buy this two bed two bath apartment in the complex of Benatalaya on the road to Benahavis. The price of this property is currently 225,000 Euros, reduced for a quick sale in a complex where...
There seem to be a great debate now as to whether a sovereign debt crisis in Spain actually makes it a worse time to buy. Let's look at the two sides of this debate. On the one hand we have people...
In spite of the adverse news about the "weaker" economies of the so called PIGS (Portugal, Ireland, Greece and Spain) Compass Amazing Resorts have seen a sharp upturn in visits AND buyers of property in three of their 6 destination resorts, Spain and Portugal being two of them along with Turkey There could be many reasons for this, of course, however we believe that the main factors behind this are the price drops in Spain and Portugal. Many people know that, although there is an oversupply problem in Spain, the...
As we had advanced in an earlier post, the Salon Inmobiliairia de Madrid or SIMA, still the world's largest real estate trade fair, opens its doors today. For all of us in the overseas property industry this trade fair represents an acid test to the relative strength of demand as well as giving indications as to what newbuild developers aim to do for the rest of the year. You can obtain further information on the trade fair or why not just turn up at the IFEMA show centre in Madrid. Enjoy the journey...
It is well known that property in Spain has been dropping in price for the last few years. Although in some areas these price drops have flattened, the news from Spain today is that in some areas prices have dropped below the "pyschological" 100k barrier. At SIMA 2010, Madrid's world famous real estate fair, there are properties on offer in many parts of Spain for less than 100,000 Euros, and some from as low as 59,000 Euros. Now even though a lot of this offer is urban inner city property don't worry...
There can be no doubt that the forming of a new government in the UK, albeit a coalition government, spells good news for industry in general and the overseas property industry in particular. At Compass Amazing Resorts we welcome this change of government and hope that the much hyped "sense of partnership and common purpose" truly helps get the country back on the road to prosperity. A new government marks a new era of stability. The tories, even if their current mandate is leavened by a sprinkle of Lib Dems...
For all of those who are waiting for a "recovery" in Spain the 8.5% increase in February of mortgages granted in the country is certainly a good sign. This marks the second consecutive month with positive interannual figures. According to Spain's National Institude of Statistics 54,813 mortgages were granted in February. This is 6.2% above January which had already been hailed as a good sign with an interannual increase of 2.3%. For people wishing to obtain a mortgage on their Spanish property, or for people...
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