December 14, 2011 – 10:55 am
House sales fall in Tenerife and Spain
The number of homes sold during the third quarter of the year was 75,462, representing a decrease of 16.8% over the previous quarter and a fall of 6.3% over the same period in 2010, according to the Ministry of Development’s statistics of real estate transactions. The total number of homes sold between July and September is the second worst figure since 2008, surpassed only by sales recorded in the first quarter of this year, when 74,455 properties were sold. Europa Press reported that in the twelve months from August 2010 to September 2011, the sale of homes recorded before a notary totalled 391,167. By type of property, new builds accounted for 33.1% of total transactions in the third quarter, at 24,945, compared with 50,517 resales, representing the remaining 66.9%. Over the same period last year, new home sales fell 1% in the third quarter and resales by 8.7%.
Source: Kyero.com
By Angela
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Posted in Economy, General, Health, Holiday, Inspirational, Property, Tenerife, Things to Do, Weather, Web Cams in Tenerife
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Tagged Europa, homes, Ministry of Development, new builds, notary, Property, real estate, Spain, Tenerife|
November 15, 2011 – 10:58 am
Spanish Land Registry information now available in English
Spain could be exacerbating its property market’s problems by making Land Registry information available in English, according to an overseas property lawyer.
Peter Esders, solicitor at Chebsey & Co., told OPP in a letter that more information being made available online in English leaves him “anticipating problems. I am worried about the fact that more information is being given in English online at the Land Registry,” he said.
“Unscrupulous sellers will tell buyers that they don’t need a lawyer because there are land registry searches available in English and they can supply a notary at the end.”
Source: OPP
By Angela
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Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather
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Tagged buyers, Chebsey&Co, English, Land Registry, lawyer, market, notary, overseas, Property, sellers, Spain|
A reduction in notary fees on property purchases in Spain and Tenerife
The government has announced a 5% reduction in notary and registry fees on property deeds as part of a package of measures to reduce the deficit and stimulate the economy. Notaries and Registrars are upset at this attack on their earnings, whilst house buyers will hardly notice the difference the savings are so small.
How big a saving will that 5% reduction in notary and registry fees give the average home buyer in Spain? Between €35 for a property costing €150,000, and €45 for a home costing €300,000, according to calculations done by Idealista.es, a Spanish property portal. Almost insignificant really.
Notaries and registrars are upset as the latter’s fees are already down by 50% thanks to the slump in property transactions.
By Angela
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Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized
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Tagged Economy, fees, government, Idealista, notary, Property, Spain, Tenerife, transactions|
