December 13, 2011 – 12:10 pm
Property bargains abound in Tenerife and Spain
The recent credit crisis has opened up some superb buying opportunities for buyers seeking a second home in Spain. While prices have fallen typically 25% from their peak.
For example, the Polaris World resorts were made famous by endless TV adverts featuring Jack Nicklaus before the recession hit, now these superb, complete golf resorts have a small proportion of unsold properties which the banks are keen to sell.
Buyers are advised to move quickly as much of the stock made available by the banks has sold in the last twelve months. Prime position property is becoming more difficult to find for buyers and the future of such cut price deals and mortgages remains uncertain with the government bailout of CAM about to result in a sale to a stronger banking group in Spain.
Villa Cashback MD Paul Williams remains cautious about continuing half price deals. “At this stage we don’t know what form a future CAM bank will take and what the pricing strategy of the new banking group will be. What we do know is that a weak CAM bank has so far undercut the stronger banks in pricing their property. Now it’s about to be bought by a stronger institution there’s no guarantee of the property giveaway continuing.”
Brand new apartments are available on resorts such as Hacienda Riquelme where front line golf apartments are available at less than half their original prices. Mortgages of up to 90% are available for overseas buyers. The resort has proved extremely popular with UK and northern European buyers this year.
By Angela
|
Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather
|
Tagged apartments, bailout, banks, buyers, CAM, credit, crisis, European, Golf, home, Jack Nicklaus, mortgages, Polaris World, prime, properties, Property, resorts, sale, second, Spain, Tenerife, UK, unsold|
Spain, Tenerife and the Canary Isles, have not lost their appeal with affluent Russian buyers, finds a new study. Along with Bulgaria, Turkey, The US and Israel, Spain
is one of the most popular overseas destinations amongst affluent Russian house-hunters, according to a study by real estate agents and mortgage brokers Lowel.
Russians buying in Spain spend between 50,000 and 150,000 Euros on flats, and 300,000 plus Euros on Villas. At the very top end, Russians in Spain have some of the biggest budgets of all, often in the multi-million Euro bracket.
Nevertheless, Russian demand is feeling the pinch of the economic crisis this year. Russians are expected to spend 9.3 billion Euros – 10% less than last year on property abroad.
By Angela
|
Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather
|
Tagged abroad, Blugaria, buyers, Canary Isles, crisis, economic, Euros, flats, house, hunters, Israel, overseas, Property, real estate agents, Russian, Spain, Tenerife, Turkey, US, villas|
August 26, 2009 – 6:22 pm
New builds fall in Spain
The volume of new residential properties in Spain constructed is expected to fall by as much as 25 per cent by the end of 2009, according to a report by the Fundación Laboral de la Construcción.
Residential building activity levels have fallen over the past year or so, culminating in the loss of hundreds of thousands of jobs, due to the global financial crisis, an oversupply of Spanish properties, and a fall in demand for Spain property. Experts project that the new build figures in Spain will remain low until the end of next year.
The construction labour foundation basis its projection on the amount of cement used by Spain property developers, which dropped by 24per cent last year, the largest fall in a decade, while demand for cement has fallen even further so far this year.
By Angela
|
Posted in Economy, General, Miscellaneous Articles, Property, Tenerife, Uncategorized
|
Tagged builds, crisis, developers, financial, new, properties, Property, residential, Spain|
