Pitiful pound helps Fly to Let buyers and sellers arrive at a good price in Spain
18.01.10
The weak pound against the euro can benefit both buyers and sellers in Spain’s property market according to real estate agent Mercers.
The agent admits that at first glance it’s tricky to work out how buying a villa in Spain in 2000 for €122,000 and selling in 2010 for €85,000 can be seen as anything but an unmitigated disaster.
But Mercer explains that if the seller is British the buyer can pick up a bargain while the vendor still makes a profit.
Here is the above-mentioned example in more detail. In mid-August 2000 Mercers was selling three bedroom three bathroom detached Neptuno-style villas on Camposol Golf on Spain’s Costa Cálida for €122,000.
The exchange rate was €1.65 - £1 so this worked out to be an equivalent of £73,939. If the same villa was sold at the same price tag today (€1.12 - £1) the vendor would get around £108,708 – a gain of almost £35,000.
So, claims Mercers, the reality is that they could comfortably drop the price to €85,000 (£75,735), way below its value a decade ago, and still be a few grand better off.
Many people in Northern Europe dream of moving to Spain for the sunny warm climate. For anyone who plays golf there can be few things more depressing than trying to play golf during the winter months when snow and freezing rain batter the fairways. In fact the lure of golf in a better climate is one of the main reasons thousands of people move to Spain every year. But the dream of a moving abroad to an apartment or villa near a golf course can often turn into a nightmare. Golf professional and Spanish property expert Jeff Hall offers some basic advice on his website and in this article about buying a golf property in Spain.
Resist Buying Property in Spain on a Viewing Trip
With rain hammering down outside and the forecast in Spain showing sunny and twenty degrees it’s easy to understand why people take advantage of cut-price viewing trips offered by property companies. Whilst this is a great way to explore an area, be prepared to face a fairly tough sales pitch - whatever you do don’t buy on the first trip. Make a pledge to your travelling partner that the credit card stays in the wallet and no matter how appealing a deal seems, get back home and carefully consider what you are getting into. There will be hundreds of properties just as attractive – take your time.
Hidden Costs of Buying in Spain
There are many hidden costs to buying a property in Spain from a potential ten percent tax on the property, which is often not included in the price, to costly legal and banking fees. Buying a new build property in Spain often involves several hefty payments, the last on completion. If the transfer is from a bank in England to one in Spain, the incoming bank can charge huge landing fees. But these can be easily avoided by transferring the money through a company that is used to dealing with international transfers such as Moneycorp. Whichever agent you buy through, insists Hall, make sure they will not desert you after signing the deal. The best companies guide the purchaser through the legal complexities of the Spanish system from first viewing to moving in.
From villas in Spain and farmhouses in Tuscany to self-catering apartments in the South of France and condos in Florida, the site features more than 13000
In mid-August 2000 Mercers was selling three bedroom three bathroom detached Neptuno-style villas on Camposol Golf on Spain's Costa Cálida for €122000.
There is a mixture of apartments and villas, as well as 18 casale - the former farmhouses on the estate. Prices are expected to range from £335000 for a
Golf Course Review of the Month for January. Sponsored by Costa Blanca Green Fee Services. For this months golf course review we are going to start off 2010
There is a mixture of apartments and villas, as well as 18 casale - the former farmhouses on the estate. Prices are expected to range from £335000 for a