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At this time of the year when the days are short and the skies are grey, focus tends to shift towards the glorious summer months when we can escape the daily commuter grind and the realities of the 9 – 5 and take a couple of weeks out to lie on a sun drenched beach somewhere.
But why take just two weeks away when you could own a holiday home in the sun, vacation in it whenever you wanted to and even let it out for an earnings supplementing rental income?
As property buyers and sellers in Spain eagerly watch for an opportune time to make their move, what do the latest statistics say about the true state of the Spanish property market? Is the price of housing increasing, decreasing or holding steady?
If I were to tell you that there's a region of southern Spain that remains undiscovered and under explored, where the climate's perfect, the beaches are pristine and pretty whitewashed villages overlook the sea, where a second home is affordable and merely a stone's throw from a major international airport - would you believe me?
Abusive Clauses in Spanish Property Contracts By John Hill
Kingdom-Homes warns purchasers of Spanish property to watch out for the various abusive clauses that too often appear in the purchase contracts that they will be required to sign subsequent to reserving their Spanish property.
A fair assessment of the situation in 2006, but prices have actually fallen in 2006 and 2007. 2008 looks likely to also be a downward movement as there is a huge glut of Costa del Sol property. Still a great place to live and currently a good place to make low offers on quality homes for those wishing to buy on the Costa del Sol and keep the property for the longer term.
Murcia Costa Calida - A Genuinely Unspoilt Region of Spain By John Hill
Located on the South-East corner of the Iberian Peninsula, between the regions of, Andalusia, Castile-La Mancha and Valencia, the region of Murcia is characterized by its rich Phoenician and Arab history of commerce and agriculture.
The city of Murcia and Capital of the Murcia/Costa Calida region offers superb shopping and an abundance of historical sites. Founded in 825 AD by the Moors, Murcia has matured into a vibrant and dynamic city that hospitable, light-hearted and extroverted.
The autonomous Spanish region of Murcia is situated between the better known regions of Andalucía and Valencia in South Eastern Spain. Murcia is approximately 882 square Km, and has a population of 1.3 million people, with about a third of these people living in and around the city of Murcia itself. The climate is warm, with an average winter temperature of 11 degrees and around 34 degrees in summer, and boasts more than 300 sunny days a year. A recent World Health Organisation study pronounced Murcia the cleanest province in Spain.
Murcia, in South East Spain, has not had the same publicity, or prosperity, as other regions of Spain, but improved air services, thanks in part to low cost airlines, rail and motorway links, and property development, ensure this is set to change. This traditional region is now appealing to visitors who wish to enjoy the real Spain, and Spanish culture such as food, architecture and the pace of life. No longer do visitors to Spain want English style pubs near the beach, or English newspapers available in the local shop. The Mediterranean diet is both cheap and healthy, whether you choose to cook, or to eat out. There is plenty to choose from and most of the fruit and vegetables will be grown locally. The "package holiday destination" image that Spain previously had is on the decline.
Buying a property abroad is a lot more common these days than before – with an estimated 100,000 Brits alone doing exactly that this year. And who can blame them – warm climate, great lifestyle – cheaper property and much more. But the same people who would argue a €1 overcharge on a restaurant bill are letting the banks get away with literally thousands either because of blind faith and trust or a complete lack of knowledge.
We’re talking about transferring money.
So how do you ensure you get the best rate for your money?
Off plan property buying has been very popular in Spain and the article below gives a useful view of the topic in todays slower Spanish property market.
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Buying Off Plan - Is it Easy Money or is it Fools Gold
It seems to be the hot topic - many agents in the area are pushing off plan as the investment vehicle for get rich quick. Is buying off plan the key to quick money or can it leave you with egg on your face and no dinero?.
The basics
Buying off plan means buying a property before construction starts. The developers need to finance the project and typically use bank mortgages to finance the project. Increasingly however they sell an amount of the properties off plan to investors who hope to increase their investment many fold.
They put down an initial deposit of say 30% and if the property increases in value by say 20% in the time it takes to build then because you are staking a smaller amount your money grows faster. The purchaser then sells on their contract before completion, and the new purchaser pays all IVA and taxes paid to date, so in effect the only taxes you pay are capital gains tax.
Sounds perfect – where do I get in?
Before we go rushing in to buy off plan lets look at it a little closely.
