April 15th The ripple of property sales is now going through to the higher price brackets, with the bargains being picked of at all stages. The villa on los Pinos which was on for 4 years reference tranquility has sold at 340,000. Los Gemelos villa in Punta de la Mona went at 350,000 but was just a shell, but great value. Vila up in Cerro Gordo sold at €1m which was very cheap at that price. There is another bargain on Cerro Gordo ...if you are interested in that area just send me an email for details. Next two bargains that will sell this month are Rancho Rio Verde at under 200,000 and Buttercup in Peña Parda at under 140,000.
April 7th 2013 So it is not only Wisemove that is doing well, 6 of the agents I work with on a regular basis are selling lots too. 4 out of the 6 are saying it is there best period in 10 years. 3 villas on Los Pinos are sold just this week alone. I have taken 30 properties off the web site that have been sold in the last 3 months. That is 15% of our listings. New valuations will be underlining this new level of stability and new stock coming on will be valued accordingly. We have done two sales contracts this week and now we are looking for new attractive stock to entice buyers.
March 25th BARGAIN ALERT two bed , brand new apartments in Almunecar including garage and storage room, landscaped gardens, communal pool and paddle courts 100m to the beach with sea and mountain views. They will rent like a dream and sell like hot cakes so be QUICK! Email me for details nick(at)wisemovetospain.com.
March 17th disappointed today as two of my favourite properties have been sold by OTHER agents argh. That is the absolute Bargain 4 bed villa in Currumbico that sold for less than 250k and the apartment/ commercial property opposite the beach in Tesorillo. This building is 250m2 constructed on a 500m2 plot just 25m to the beach. Rumours are it sold for 175k. This property will be worth 900,000 when the development in this area returns as this was a hotel plot that could be converted to apartments because of the surrounding buildings. Two more bargain properties snapped up. Don't say you were not told.
March 5th 2013. I told you we were busy. sales went through at La Herradura and a bargain townhouse in Itrabo. We have another sale in two weeks in la Herradura and a house in Rancho Rio Verde are signing contracts today. We have the little cortigo in Molvizar back on as the buyer could not get the money together and lost his deposit. We also have a lovely cortigo in Orgiva coming on which has to be sold so the property price has to be a bargain price. The bank are still messing about with the repossessed property I call the Hacienda in La Herradura and have reduced the price by 20% even though they have not replied to 3 previous offers or allowed people in to view!! we are negotiating the sale of a large villa in punta de la Mona for in excess of 3m euros with two other high value clients arriving in the week starting 18th March. We have 3 off market properties not listed on the site and in excess of 3m euros. When the big money begins to spend again you know it is a good time to buy.
January 7th 2013. Great break and the weather is sunny and warm. Enquiries were quiet the week before Christmas but now they have gone mad. The really interesting point is that quite a few enquiries are for expensive high end property. The villas at 1m euros plus, the huge piece of hunting land at 2m euros and the large property portfolio. This was an enquiry from a international agent on behalf of an international property investment fund. This is very interesting for me as this is the very property that picks up later in a property up turn!
THIS IS A REAL BARGAIN PROPERTY FOR SALE IN ALMUNECARBUT YOU WILL HAVE TO BE VERY QUICK. Ok the story is that a developer has bought the property for a quick turnaround. The property has 550m2 of plot and 220m2 of house registered BUT in catastral it shows 838m2 and 320m2 constructed. I think the Catastral is more accurate. As you can see from photos the house is huge as the owner has concentrated on living space and not bedrooms. Position is just 25m2 to the beach road without being on the beach road. It has great views. This is the price to sell quickly so be quick. This will be THE BARGAIN PROPERTY for sale in Almunecar in 2012. THE BEST bit of information is that buildings north and south of the plot have 100% build percentage on 4 levels. That is a potential 2000+m2 of construction with views just 25m to the beach. This plot is zoned hotel and commercial according to town hall information. This as a plot could be worth 1 to 2 million euros when the markets start to move again and developments re start. In the meantime enjoy it as a cheap holiday home with rental potential. This is a real Christmas present.
We will have 7 completions this month....our best month ever. I am delighted it is our clients getting the bargains.
STOP PRESS 25th November 2012 two more properties have gone off the books...the bargain townhouse property in el Montañes which was for sale at 155,000. Fantastic property with the only negative being it was just about the n340 but that was more than reflected in the low price. Also a cheap townhouse in Molvizar for less than 50,000! This is really beginning to feel like we are turning the curve rather than a "beat the tax rise" boost in demand. The engineers are back on the seven star hotel plot which is great news.
21st November 2012. Best sales in the last 7 years. The Bargain property little cortigo in Molvizar sold at MORE than the asking price of 30,000. We also have an offer accepted on the modern townhouse property bargain for sale in La Herradura. We also have had an offer accepted on a beautiful townhouse in Otivar used as overflow accommodation for a nearby luxury boutique hotel. Three more bargain properties SOLD. When the winds of inflation arrive, you will kick yourself for not investing in a Bargain property for sale in Spain whilst prices were so low.
The 7 bedroom on Los Pinos has sold at less than 350,000...contracts signed and also the red house at Cielos de cotobro went for 180,000. These properties have been on the market for 4 years! Now they have sold !!! We have sold two others this week which makes 2012 our best year so far. More British and French coming and buying. This weeks buyers were both French.
**The Bargain twin cortigos for sale in Gelibia sold this month at less than 90,000.
**The tourism development for sale in Almunecar sold last month for an undisclosed amount ( we had it up at 1.4m) for 3 completed houses, 300m2 commercial building, 4 units 50% built and a further 17 plots on 25000m2 of land just 5 minutes from town, with great views. BARGAIN property purchase by Swedish Investors.
**The repossessed house in San Antonio, La Herradura went for less than 150,000 euros in less than 2 weeks on the market. BARGAIN.
**3 bed semi detached villa in Pena Parda, La Herradura sold at less than 150,000 with great views.
**The large townhouse property bargain for sale in Itrabo has gone to contracts and will complete next month at 140,000
**The Bargain townhouse property for sale in San Antonio with sea views sold at 150,000.
**The 3 bedroom house in La Ribera, Almunecar sold at 170,000 after being on the market just 3 weeks.
**The villa in San Nicolas with 12000m2 was a real property bargain and sold for less than 450,000
** The Jete townhouse with amazing views and over 200m2 of building sold at 145,000
** Offer made on the cortigo with 12000m2 in Jete close to 200,000 asking price. Stop press offer accepted.
** Offer made on the Cotobro development close to asking price. This buyer will be reselling the units with great views and converted to 3 bedrooms. If you are interested in taking one then email nick at wisemovetospain.com.
The NEWS from 2 banks about mortgages are that they are coming back and are available at 70% for non residents. I have just had quotes at 70% loan to value or purchase price at Euribor plus 2.5% or 5% fixed. I will be getting quotes from Sabadell on Tuesday so I will keep you posted.
Also it looks like the wheels are turning on the Bahia Fenicia project (7 star Banyan Tree hotel resort)! The environmental report is favourable and should be through Junta de Andalucia by end of November. Property values will bounce by 25% minimum.
STOP press for a bargain villa in La Herradura for sale . Old guy owns the property will accept 270, 000 for quick sale. It just needs to be emptied and painted to be worth 400,000. Very nice property.
Here is another bargain villa for sale in Curumbico, Almunecar that I found with a local Spanish agent. We were searching for four bedroom villas under 300,000. NOT EASY TO FIND. This property is a real bargain at this price and I think there could be another 25,000 off that price too!
The tourist project for 21 houses ( 2 were completed and 3 half built) sold at 60% of previous valuation. If you missed it shame on you as there was lots and lots of profit for the Swedish who bought. Here is a similar deal with potential 100% mortgage on this repossessed development for sale in Almunecar . More details will follow this week but we can get 10% of these prices and 20% if you buy all 9. These are in an A1 location in Cotobro, Almunecar. Dont be slow
The owner of the little cortigo in Molvizar will take 30,000. That is a very pretty plot and a huge bargain. stop press owner just refused 28,000. He has dropped the price to what he will take. I am amazed the buyer is refusing to go up the 2k. Madness and still a great place.
The same owner will take 58,000 euros for this plot below, but only one will get sold at these bargain prices.
very cheap plot of land for sale is in Jete .This
bargain piece of land for sale has had a project approved about 5
years ago but the license was never paid so you would need to reapply.
The project is all completed with various required reports.Great views
over fabulous mountains and down the valley to the Sea. About 25 minutes
drive to the coast.
This front line apartment is now a bargain at 119,000. The only catch is that you are fourth floor with no lift and needs to be renovated. It is still cheap and they may even take a little offer. Fantastic position.
This is a pre repossession purchase opportunity . Great property which only needs a bit of paint and some roof tiles. The lender will give a 100% mortgage for residents and up to 80% subject to status for foreigners. Great location and great views
Las Palomas property for sale. This property was valued by the bank a
few of years ago at €530,000. It has just been reduced again to €349,000
but I know the owner will take €300,000.This property is on 2
escrituras and is effectively 2 apartments joined together.
Jete country house bargain for sale. This property is a lovely wooden building with great views in the village of Jete. Just reduced again by a whopping €30,000. 25 minutes from Almunecar this is a great property for sale. Fully legalised and registered.
bargain property for sale in La Herradura . It has a 3 bedroomed villa with two bathrooms and a fireplace with a two bedroom bedroom apartment underneath. This property was valued in 2005 at 450,000. Now the seller will take 200,000. Great investment potential. This area gets its new infrastructure within 12 months ( already funded) and then there will be a big jump in demand for the area. HAS AN OFFER::::offer rejected will take 185,000
Bargain villa for sale in Los Pinos Almunecar.This villa has a main house with 4 bedrooms and two separate apartments. There are two separate entrances which makes this an amazing rental potential. Was first marketed at €700,000 euros and now has been reduced to €390,000 but you will have to be quick.
very cheap plot of land for sale is in Jete .This bargain piece of land for sale has had a project approved about 5 years ago but the license was never paid so you would need to reapply. The project is all completed with various required reports.Great views over fabulous mountains and down the valley to the Sea. About 25 minutes drive to the coast.
Another bargain villa property in La Herradura is this 4 bedroom villa property for sale in Pena Parda. This owner had marketed the property at 725,000 euros 2 and a half years ago and refused an offer of 650,000 to sell and took the property off the market. He has put the villa back on the market at a knock down price of 449,000 and now reduced to 399,950.
This owner will take 90,000 for a quick sale on this bargain property in Itrabo. Sale collapsed on this house as the buyer could not get a mortgage so it is still available. The owner will rent this property out if it is not sold in the next 2 weeks ....it is incredible it is still here it is a real bargain property in a great position.
Demand first started falling in August 2007 when people believed that prices were too high and that other European destinations were proving to be a more cost efficient destination. Maybe these people were right, but they have also run into problems in August 2008 when the full impact of the credit crunch began was felt. That is all history, so where are we now? Is it safe to go back into the market? Will the prices go down further? To answer this question you must look at the fundamentals.
1. Product quality
2. Supply and demand
3. Current pricing
1. What is Spain, or to be more precise in our case, Granada´s Costa Tropical, selling? What does it have to offer that people are willing to buy? The Costa Tropical has one of the best climates in Europe, two new motorways linking the area to the city of Granada, Malaga and Almeria ( next junction to be finished 2012), skiing in the Sierra Nevada, traditional Spanish culture not diluted by Northern European fashions. Limited development and lots of protected countryside. The Observer newspaper quoted Almuñécar as the holiday resort of the Spanish. Compared to other resorts in Spain and throughout Europe, the Costa Tropical can hold its own.
2. Luckily the Costa Tropical was behind the curve for rampant property development and so did not suffer the massive over supply of repossessed apartments and unsold villas of other Costa's. Demand for the culture and the micro climate remain strong from Northern Europeans and affluent Spanish buyers who want an investment or summer home on their favorite coastline. As the Costa Tropical enjoys the best climate in Europe (according to the World Health Organization), the 830 million inhabitants of Europe provide substantial demand for property. Demand for property will increase on the Costa Tropical as the motorway is nearing completion, plans approved for 2 new marinas and a 7 star hotel is coming to Almunecar.
3. There is a dual pricing scenario at the moment with realists reducing prices to sell and the dreamers still hoping to achieve the highest prices of 3 years ago. All the sales we have been part of in the last six months have been at 50% of the highest marketed price! Official reports April show Spanish property prices have dropped a total of 41.7%. According to Merrill Lynch they expect the total drop in Spanish house prices of 45%. If you factor in the dramatic reduction in cash payments on house sales the real price reductions would be at least 50%. This report considers the USA to be out of their housing slump with prices beginning to stabilize and grow. Europe lags 6 to 12 months behind the USA so we will not see this stage until later in the year. Therefore the sale prices we have seen are lower than the lowest prices predicted as the bottom of the market. These are the bargains that other people seem to find, but never you! Now is the time to get yourself a good property professional and go shopping for your Bargain Spanish Property.
Jete country house bargain for sale
Another bargain villa property in La Herradura