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Real estate Barcelona Blog
Notaries prevent repossessed homes being sold for less than 60% of its value.
Giovedì 08 Marzo 2012 12:42
With financial institutions being guilty of selling repossessed Spanish property for sums of money that are far below market value, the notaries have stood firm and told local banks that they cannot sell foreclosed properties at any price. Under the new terms laid down by the notaries, a repossessed home being sold by a bank must reach at least 60% of the appraised property value. In doing so, the notaries have eliminated the possibility, that existed before, of a home being sold off for 1 Euro.
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Euribor allows property buyer’s mortgages to drop for first time since July 2010.
Martedì 28 Febbraio 2012 13:27
In February the Euribor closed at 1.68%, 16/100 less than its value in January when it was at 1.84% and which has resulted in the drop in the cost of mortgages for the first time since July 2010. This means that current home owners and potential buyers of Spanish property will see their annual mortgage being reduced.
Over the same period last year, the Euribor closed at 1.71%, 2/100 above the expected close level of this month, which means that an annual mortgage of € 200,000 over a 24 year loan period will decrease by 1% or 11 Euros per month less, or 132 Euros per year. If the same mortgage is over a 39 year life, then the costs would fall by 2%, which would result in a 12 Euro saving per month, or a 144 Euros per year.
Buy to let properties are still profitable, if you choose right.
Venerdì 24 Febbraio 2012 13:19
With the fall in the property sale prices and the increase in costs for owning a home in Spain (approx. 4% per annum) you can be forgiven in thinking that now is not the time to buy Barcelona property and luxury real estate in Spain. But let thought prevail and caution keep you focused, because if you purchase a property at the maximum of its sale price, you could be left with soaring costs and a depreciating asset, but if you have the right contacts and local knowledge, the buy to let properties in Barcelona still offer a profit margin.
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Barcelona is the Third Most Attractive City
Martedì 14 Febbraio 2012 10:19
Following a survey in which over 2,000 people were surveyed by Saffron Brand Consultants, the results have revealed that Barcelona is the third most attractive city in Europe, behind Paris and London, thus making Barcelona one of the best selling trademarks. Among the 72 cities chosen to compete on this list are other Spanish cities such as Madrid, who ranked eleventh given the strength of its city brand, Valencia who ranks twenty-second, Malaga is twenty-sixth, Zaragoza is ranked thirty five, while Sevilla came in at thirty-seven. Still making Spain a sought after country in both investment and touristic terms.
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International tourists up by 7.9% compared to last year
Venerdì 03 Febbraio 2012 11:45
Reports from the Tourism Expenditure Survey (Egatur) where published on Monday and have shed some light on Spain’s foreign tourists and their benefit to the country. In 2011, international tourists visiting Spain spent 52,796 million Euros, which was an average expenditure of 934 Euros per tourist, up by 0.2% than the same period in 2010 and an increase in daily spending by 4.6% to 102 Euros.Pagina 10 di 45