Lost Property Deposit In Spain Community
Wednesday, February 6, 2013
EOS have some great discussions and also support from solicitors commenting and some very knowledgeabel people.
In addition to those forums I thought I would see if a social network dedicated to the subject would possibly help our plight! However that got closed down because the hosting company went out of business. I have created a blog instead to keep you informed.
Click on the blue link below if you too have had your deposit for your spanish property simply taken away from you with nothing in return!
www.spanish-property-deposit-reclaim.blog
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Published at 11:14 PM Comments (0)
The Russians are Coming (already there actually!)
Wednesday, February 6, 2013
A new survey has revealed that, while British buyers remain the most likely to buy property in Spain, Russians are fast becoming the biggest major competition.
Russian buyers are now the second biggest group in Marbella investment, overtaking their German counterparts, according to research from the Malaga Developer's Association, with those keen on investment having plenty of financial firepower.
Russians making up nine per cent of buyers, ahead of the Germans with seven per cent.
British buyers have still retained the top spot, with a huge 35 per cent but there is no doubting the growth of Russian investment in parts of Europe such as Spain.
Russian buyers have already purchased a wide range of luxury properties in European cities such as London before now and the signs are there for increased integration in Marbella too.
Indeed, there are plans in place for the largest Russian Orthodox Church in Spain to be built ten kilometres to the west of Marbella while local tradespeople are getting to know the language and the culture so as to cater to the market.
What's more, Spanish consulates in both Moscow and St Petersburg have seen a sharp rise in the number of staff needed in order to process visas for its countrymen wishing to visit Marbella and invest.
It could be that this investment upturn, coupled with the consistent demand from British buyers, ensures that the Spanish property market makes a recovery from what, in some areas, has proved a testing time.
According to the Global Property Guide, Tinsa's general price index had dropped by 10.8 per cent in June of last year, based on the same period the year before.
The index also found that house prices in Spain had dropped by around 30.4 per cent from the halcyon days of December 2007, suggesting there are bargains to be had in certain areas of the country. International Property and Real Estate News from Propertyshowrooms.com
2013-01-31 17:02:05
Edited News originally by Propertyshowrooms.com
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Published at 11:13 PM Comments (0)
More House Sales in Spain 2012...but British not in the frame?
Thursday, February 9, 2012
More overseas buyers pick up property in Spain, bank figures reveal
Report by Ray Clancy on February 9, 2012 in the Propertycommunity.com
Foreign investment in Spanish property grew in 2011 according to figures from the Bank of Spain.
After increasing by 27.8% through to the end of September compared with the same period in 2010 which experienced a mere 2.6% growth, overall transactions reached €3.6 billion.
The Bank of Spain reported that these investments exceeded €1 billion for three consecutive quarters, something not seen since 2008.
‘Foreign investment into Spain has been very changeable in recent years. It progressively declined between 2003 and 2006 only to increase in 2007 however, the upward trend was cut in 2008, during the economic crisis seeing foreign investment fall,’ said Marc Pritchard, sales and marketing manager of Spanish house builder Taylor Wimpey España.
‘However, the news that foreign investment in once again up is a sign that property market conditions are improving with property purchases in the third quarter of 2011 increasing by 19.2% over the same period of 2010, amounting to €1.1 billion,’ he explained.
‘The increase in Spanish property sales seen in the last quarter of 2011 has spilled over into 2012 as international bargain buyer’s hunt down the best Costa deals with Germany and Nordic countries outspending the Brits, who have been a little slow in spotting new opportunities,’ he added.
Currently the euro’s depreciation against the pound could mean that there will be numerous opportunities for Brits to buy in Spain, Pritchard believes.
‘As Spanish property seems more affordable in the eyes of British buyers there now seems to be a slow but sure increase in the demand for villas and apartments along the coasts,’ he said.
He pointed out that prices are reasonable, such as the new Lagunas del Sol development close to the heart of Ciudad Quesada /Rojales which has townhouses on two floors with two or three bedrooms, a garden, private parking and views towards the swimming pools and gardens which start at €114,920.
At the Calpesol development in Calpe on the Costa Blanca three bedroom houses with gardens, communal swimming pools, a roofed sun terrace and private parking start at €165,000.
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Published at 9:50 PM Comments (1)
A Spanish Journalists Forecast for Spanish Property Market in 2012...
Tuesday, February 7, 2012
If 2011 was the year in which property investors and homebuyers kept a closer eye on property prices in Spain they will spot even more encouraging trends for 2012 which are likely to generate more active buying.
These trends are likely to include better prices; better quality of new properties; encouraging rental market; more security to investors; more Government pressure on banks to balance their property books.
1. Better prices for buyers in 2012. Property prices dropped in 2011, an average of 6.85% according to the Ministry of Public Work. Prices level has reached 2005’s figures and the economic climate suggests that further falls will come.
2. The market is touching rock bottom. 2011 has probably been the worst year in terms of property prices and sales drop. If the price fall in 2010 was by 3% compared to 2009, the mentioned fall of 6.85% in 2011 compared to 2010 confirms that the market is reaching its lowest at the right speed.
3. Cash is king not only for particular vendors but also for banks and savings banks. Get your cash ready for upfront payments to guarantee juicy discounts from private sellers and financial institutions.
4. Buy-to-let is still the only short-term strategy for property investors. Unless you are a high-end investor with your clients’ portfolio, the economic situation in Spain still does not give hope for reselling in the short- and mid-terms.
5. Once again and probably forever: location, location, location and property specifications. Avoid subprime properties. Subprime tends to be easy to identify. Subprime properties in Spain are in poor locations and are bad-quality properties: poor building specifications, no lifts and frequently they need expensive refurbishment.
6. The best opportunities will come from those in need to sell. If a bank’s portfolio is the largest in the country, it’s probably because its stock is difficult to sell. Generally banks have the worst properties in Spain because the owners could not sell or rent them in order to repay the mortgage. There are good deals from private sellers who need cash and want to sell a good flat or house.
7. Timing. At this moment (the beginning of 2012), Spanish property bargains are most likely to be in the hands of private owners rather than in banks’ repossessed property portfolios.
8. Banks will still be driving the market in 2012 as they are not only holding the largest property portfolios, but also use their financial strength to tip the balance towards their own business. Banks are the easiest option but potentially not the best right now. It may change shortly if the economic climate still hitting private owners.
9. Banks’ mortgage restrictions are still tough and mortgage conditions are not improving despite the fact that Banks tend to mask bad mortgages with residual discounts: free arrangement fees, very low notary fees (the bank pays the notary bill), etc. You must shop around and find the best mortgage.
10. Buying tip of the year: As a starting point when dealing with a seller directly offer 30% of the asking price. That is the way to guarantee a bargain in the negotiation process.
- The original author, Spanish journalist Daniel Talavera of TheSpanishBrick.com
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Published at 6:09 PM Comments (0)
Possibly the Nicest Place to Invest in Spanish Property
Tuesday, February 15, 2011
I got introduced to this area of Spain by accident. However some of my late mother's friends found a home here after scouring Spain for a nice area to retire to. In fact there are many people from UK and Ireland that have made this their second, or even first, home. It is also only just over an hour's drive from where the proposed Paramount development will be so there is a lot going for it both now and in future.
Currently there are also some very good property deals there. At the weekend I was there and I saw an offer for 100% mortgages that also included all legal fees (including taxes!).
kingofspain999@googlemail.com
Read the article below for further info...
THE LEVANTE AREA OF ALMERIA
Nestled in the north-east corner of Andalucía, the eastern part, or Levante area, of Almería province is a land of contrasts: a land of rural idylls and lively Mediterranean resorts, a land offering the great outdoors side-by-side with interesting towns and sophisticated nightlife, a land which has preserved the best of its traditions, but which has also moved with the times.
The enviable year-round climate is undoubtedly one of the Levante’s main assets for both holidaymakers and residents, making it possible to make the most of everything this privileged corner of Spain has to offer. Beginning with the spectacular coastline, the Levante boasts beaches and places of interest to suit all tastes and preferences.
There are the family-friendly fine golden sands and tranquil bays of San Juan de los Terreros, the rugged allure of Cuevas del Almanzora’s hidden coves and the picturesque fishing village of Villaricos. There is the vast expanse of Vera Playa’s outstanding beach, where even in mid-summer there is always plenty of space for everyone. Or you might prefer people-watching on the promenades overlooking Garrucha’s and Carboneras’ working ports.
Mojácar Playa has beaches for all moods, with buzzing bars and eateries and hip and happening nightlife, as well as its “off the beaten track” surprises. Then there is one of the jewels in the whole Mediterranean crown: the Cabo de Gata Natural Park, with its dramatic landscape of volcanic origin and its truly beautiful beaches, including sweeping bays regularly voted as among the best in Spain.
Heading inland, again it’s a case of spoilt for choice. Just a few kilometres from the beach stands Mojácar Pueblo, a picture postcard village of little whitewashed houses and impossibly winding streets clinging to the mountainside. From here there are panoramic views across to the equally character-filled mountain villages of Bédar and El Pinar and to Sierra Cabrera and its Moorish-style "cortijos”. In fact the Levante’s interior is peppered with any number of delightful villages and towns, each with their very own rustic charms, and surrounded by hillsides of olive, almond and orange groves.
The dramatic mountain scenery of Los Vélez and the area’s important historical monuments and impressive castle is another side to the Levante. There is also Sorbas’ fascinating gypsum karst and intriguing caves, and its town with its curious hanging houses overlooking a steep ravine. Yet another of the Levante’s must-sees is the Tabernas desert. World famous for its role in Sergeo Leone’s “Spaghetti Westerns”, Tabernas offers landscapes unique in Europe and an entertainment paradise for all the family at the “Oasys” Western theme park and zoo.
The Levante makes the ideal base for enjoying daytrips to some of south-eastern Spain’s most famous sights. You can combine shopping with discovering the past on an excursion to the provincial capital Almería city or to Lorca in Murcia. Both cities boast excellent commercial centres and fortresses dating back to Moorish times. Murcia capital, less than a two-hour drive down the A-7 motorway from the Levante coast, is also well worth a visit for both shopping and sightseeing. The port city of Cartagena with its thousands of years of history, is only 90 minutes from Vera on the AP-7 motorway, and Granada and the mighty Alhambra only two hours away on the A-92.
The Levante is a great destination for sports enthusiasts. The region is well-equipped with all kinds of sports and leisure facilities, ranging from indoor and outdoor swimming pools, tennis courts and gymnasiums, to ten-pin bowling alleys and riding stables. The region offers the ideal conditions for mountain biking and walking. And while the more adventurous might be tempted to explore some of the region’s less accessible landscapes by 4x4 or by quad bike, others might choose relaxation and pampering in one of the local spas. Back to the beaches, and thrill-seekers could get their adrenalin going wind or kitesurfing, although one of the most popular activities here is under the waves: scuba diving and exploring the coastline’s exceptional dive sites.
The Levante’s golf courses deserve a special mention. Golfers can tee off on in the mountain setting of Cortijo Grande, overlooking Macenas beach or Marina de la Torre in Mojácar, at Aguilón Golf in San Juan de los Terreros, at the prestigious Valle del Este in Vera, or at the exclusive Desert Springs – Europe’s first desert-style golf course.
Almería is an infinite contrast of deserts and farmland. As dry as its esparto grass, as fresh and juicy as its grapes and oranges...! The area’s cuisine is surprisingly healthy, the dishes prepared using traditional techniques. And this has produced dishes like “Los gurullos” (a kind of pasta usually cooked with game), dishes with partridge, hare and rabbit, “la olla de trigo” (a kind of pasta, vegetable and meat stew), “guiso de pelotas” (meatballs), “caldo pimentón”, where the vegetable garden and the sea blend, the rice soups, not to mention Garrucha’s prawns.
Thanks to the cosmopolitan character of the area, the Levante also boasts a wide variety of excellent eateries offering top notch international cuisine: Italian, Argentine, Chinese, Indian, Mexican, French, British, to name just a few. And on warm summer evenings, there’s nothing quite like an ice-cold beer and a tapas on the terrace of one of the authentic beach bars, or “chiringuitos”, which give the Levante’s coast extra special appeal.
In this part of the world you could eat exceptionally well for a month, choosing a different eatery every day...
Getting to and from the Levante is easy, whether you’re travelling from outside the country of within Spain. There are international airports less than an hour’s drive away at Almería city and a one and a half hour drive away at San Javier in Murcia, and Alicante airport is only two and a half hours distance. There are daily bus services between the region and Madrid, Barcelona, Granada and other destinations. Finally the high-speed rail-link, for which there will be a station at Vera, and the arrival of which is expected in 2013, will represent a genuine revolution in transport, putting the Levante only two and a half hours away from Madrid.
Source Remax Vera website
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Published at 8:50 PM Comments (2)
The Hidden Danger in a 100 % Mortgage Deal
Wednesday, February 2, 2011
The idea of NOT having to put a deposit down on the purchase of some Spanish property is surely quite attractive. So what is lurking beneath the surface I wonder? Well for sure where there is big money deals there are potentially some traps set for us! I don’t think many of us would trust the Spanish systems anymore following many of us losing deposits on off-plan property deals in recent years! Once bitten twice shy as the saying goes.
On the other hand there will surely be some genuine deals out there which would be a shame to look over with this view. So the trick really is how do we find out what is the real deal!
As an example of a specific situation I was called to go see one of these 100 percent mortgage deals. In fact it was the crème of such deals in that I was told that the legals were also covered by the mortgage including taxes! So this would really be a very low money down deal.
Well everything looked OK on the surface and even many extras were included in the deal that would mean that even fitting out the apartment would be cheap to do because of fully fitted equipment in the kitchens and fitted wardrobes to the rooms. Even a marble surface for eating from meant that there was not need to buy a dining table.
However on checking with local agents it was clear that the property was overpriced for the current market even though it was significantly discounted from the original marketed prices. This still might work for some who don’t have deposit money (or who have lost ii on other deals that have gone bad in the past without bank guarantees). But the thing to realise is that you will need to hold on to it for much longer than other ‘genuine’ price discount deals before the property can be sold again for a profit or you stand to make a loss if sold in the medium term.
P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’
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Published at 9:04 AM Comments (0)
Paramount Short Information Trail
Wednesday, January 26, 2011
Please see below a short trail of information relating to the proposed Paramount Theme Park development in Spain. This information is from snippets of information from the Polarisworld.info site but I don't say that is the best place to go for the best deals. In addition to that there are other places including banks of course as well as some local agents who have contacts with the banks. Do your research and compare prices. You can find these on the internet. I have some such contacts over there and can forward these on request but do your own research as well!
kingofspain999@googlemail.com
P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’
10 January 2011
We await detailed plans for the theme park in Alhama including facilities, rides and definitive location which are all expected in the first few months of 2011. Once available we will inform everyone registered immediately on release. Register here to be the first to hear.
12 November 2010
American executives from Paramount Licensing division were in Murcia yesterday to confirm at a joint press conference that the new Paramount theme park will be built in the county of Alhama in Murcia. The land adjacent to Condado de Alhama resort has been widely reported in recent months as being the favoured site for the location of the new theme park. Jesus Samper who is heading the development company hopes to build a theme park to compete with Disneyland Paris and one that will become a "European destination in itself". Michael Bartok, Senior Vice President for Paramount Licensing hopes to finalise detailed plans for the project by April 2011. Read translation from ABC News.
15 October 2010
Paramount Pictures has today chosen the land adjacent to Condado de Alhama resort as the most likely location in Alhama, Murcia for its new theme park in Europe. The land which was originally planned as a huge extension to the resort of Condado de Alhama is the preferred location for Paramount as it required a one kilometre radius to construct film studios, casinos and hotels .
The land is currently owned by IRM, a consortium of four Spanish banks who also own properties on the Polaris Worldresorts.
If confirmed it will be a fantastic deal for the four banks that own IRM who will benefit from the increased value that a Paramount Murcia Theme Park project will add to the properties they have for sale. In particular Condado de Alhama, where CAM bank and Banco Popular have apartments with huge reductions and 90% mortgages and Mar Menorresort which is just 25 minutes away.
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Published at 7:13 PM Comments (0)
Spanish Banks Bail Out and the Spanish Property Market
Tuesday, January 25, 2011
I just had the following come through to me on email, just wanted to share it with all concerned. What do you readers think this means for the Spanish property market and investing in property there?....
KingofSpain999@googlemail.com
P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’
Article:
The Spanish government is set to launch a sweeping restructuring of its troubled regional savings banks in an attempt to reassure global markets it can sort out the problems caused by its troubled property sector.
The authorities plan to create a state-backed fund which will enable Spain’s regional banks (Cajas) to raise capital in return for an equity stake. The move allows for a part-nationalisation of up to 17 of the country’s regional banks with investment also coming from private sources.
One of the reasons the Cajas need money is to help them come clean on losses caused by suspect real estate loans. To write off the debts, the banks need extra investment to maintain their liquidity ratios (the percentage of their balance sheets they must legally keep in cash).
In addition to the offer of government money, the Cajas are seeking investment on a tour of the Far East in the hope of raising funds from Japan, Singapore and China.
The timing of the Spanish government’s move is a not a coincidence. Spain must shore up market confidence in the run up to the Spring, when it needs to refinance a large swathe of its debts on international markets.
If it fails to refinance at a reasonable rate of interest, the government could be forced to follow Ireland and Greece in asking for a bailout.
As Spain is a much larger economy than either Greece or Ireland, the money needed would likely exceed that available in the earmarked bailout fund.
The result could trigger a euro collapse or at least precipitate the formation of second tier, weaker Euro.
The short-term instability would be terrible for overseas property transaction volumes across Europe in the short-term but would kick-start business over a longer time period
All eyes on Spain.
Source: Global edge
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Published at 1:25 AM Comments (0)
Investing in Real Spain and Future Spain?
Saturday, January 22, 2011
The area of Spain around the Mojacar area in Almeria is I think is a really nice area of Spain and not overdeveloped, but developed enough to be enjoyed (some call it Real Spain). It is also within easy driving of the proposed Paramount Pictures Theme Park in Murcia... just over an hours drive away. Mojacar is also no further away from Almeria airport than Terque is but the Mojacar area is by the sea and very beautiful with palm trees, nice beaches and clear blue sea.
100% mortgage deals are available on discounted property in that area. Clearly IF Paramount goes ahead (a new Future for Spain) it should have an impact on prices in that area. If the development is to take place at the most favoured location, then the Condado de Alhama resort of Polaris World will literally be on the 'doorstep' of this new proposed Theme Park.
Below is an extract from one of the websites in respect of the developments at Polaris World. Note the reduction in prices compared to 2005 which is the same time that most of us invested our deposit money in the failed off plan development (see sister blog!)...
The Condado de Alhama resort has an impressive town centre and spectacular Jack Nicklaus Signature golf course. Alhama offers the most affordable property on any of the resorts built by Polaris World. It includes bank repossession properties ith 90% MORTGAGE options and resale bargains. The land adjacent to this resort is the favoured location for the Paramount Murcia theme park. Such an entertainment complex would provide a boost for property prices where some apartments are discounted 40% below their 2005 off plan prices.
In my last blog I mentioned that, through the Group I am working with on the return of our deposit funds on another development, I have a contact who is a director with Polaris World if you are interested to know more of what they have to offer. So if you would like some further information please contact me direct and I will add you to the list of those showing an interest in this.
P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’
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Published at 1:23 AM Comments (0)
Polaris World and Paramount
Friday, January 21, 2011
On my travels over there I called up to Polaris World to take a more detailed look around that development. I suppose nearly everyone has heard of that from the extensive advertising that was done several years ago just before the property crash! I met with one of the directors of the company because I explained ot him that I was representing a group of people who had lost their deposit funds on a failed off-plan development and some were looking to invest in a property in Spain still...mostly because of the reduces prices that can be had now at say 50% of what they were at the peak.
Well Polaris World of course is no exception so I thought I could look at that to see what was on offer. It has been a while now as it was around end of November time when I was there.
I was keen at that time to understand what was happening also with the new Corvera airport and the development of the theme park branded by Paramount Pictures. Nothing was presented as confirmed at that time but i have seen a few postings recently about this being confirmed now.
Anyway, the same director just rang me up to see if I have anyone interested. To be honest i have not got around to letting people know about it yet but I suppose I should do that now. It came to my mind that there will be others out there interested in this development too so I thought I would blog about the phone call today.
There are many Polaris World agents out there but I have a contact direct with the Polaris World head office if anyone wants to take advantage of it. Just contact me direct and I will give you the details or get them to contact you.
I also asked him to give me an update on the Paramount situation so I will pass that on as soon as I get that information.
kingofspain999@googlemail.com
P.S. Check out my sister blog by clicking the link on the bottom right of the screen under ‘Interesting Links’
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Published at 1:39 PM Comments (4)
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