New homes market in Spain showing signs of recovery.

November 26, 2009 – 4:33 pm

New homes sector shows a recovery in Spain, Tenerife and the Canary Islands.

New homes sector shows a recovery in Spain, Tenerife and the Canary Islands.

The new homes market in Spain is showing tentative signs of recovery, according to the G-14 group of top Spain property developers – Pedro Perez, head of the G-14 was quoted as saying  that the sales of new homes in Spain will continue “consolidating in the coming months”.

There  is some basis for the developer’s optimism in the latest sales figures from the National Institute of Statistics.

The latest data released by the National Institute of Statistics reveals that sales of newly built properties in Spain increased by 7.6% from August to September, but remain down 20% year-on-year. It is good to see sales rise for the fifth consecutive month, something that means we can say that the sector is recovering since it touched bottom in April.

Spain property developers argue that sales on new homes in Spain are increasing thanks to lower prices and a greater range of mortgage loans on offer. This trend is emerging  in Tenerife and the Canary Islands also.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , | Comments (0)

New Spanish property loans available

September 30, 2009 – 4:42 pm
money-house

Loans available for property purchases in Tenerife and Spain once more

International Mortgage Brokers have announced that they are now offering Spain property loans of up to 90% loan-to-value (LTV) with rates starting from just 2.45% and low arrangement costs, when purchasing selected Spanish property owned by the banks. There are also 95-100% finance options available.Most mortgages to buy property in Spain are normally limited to 70% of the purchase price so, making this a seemingly attractive product.

The bank owns or controls many properties in Spain and has taken the decision to sell many of them at attractively low prices due to the collapse the Spain property market, with the added benefit of additional safeguards and warranties from the banks.

The company claims that no other Spanish lender offers these unique additional safeguards and that such high loan to value mortgages are only available to the public directly through International Mortgage Brokers.

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Spanish loans on the increase.

August 8, 2009 – 10:13 pm
Loans increas in Tenerife and Spain as property prices are more affordable

Loans increase in Tenerife and Spain as property prices become more affordable

The number of new Spanish property mortgages approved in May rose by 15per cent to 57,614 compared to the previous month, indicating that demand for property in Spain and Tenerife is rising, according to Spain’s National Institute of Statistics.

However, on an annual basis the volume of mortgages issued in May fell 23per cent, compared to the corresponding month last year.

The average mortgage value in May fell 14per cent to €121,120 (£102,560) year-on-year, but rose 5per cent month-on-month potentially reflecting the fact that cheaper properties in Spain and Tenerife are now available.

Overall new mortgage lending was €7bn, down 33per cent year-on-year, but 20per cent higher than April.

The average interest rate agreed for new mortgages in May was 4.6per cent, 11per cent lower in percentage terms than a year ago, and 2.2per cent lower than the previous month.

The majority – 96per cent – of all Spanish mortgages secured were on a variable rate, with the other 4per cent fixed.

By Angela | Posted in Economy, General, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , | Comments (1)