Buying a holiday home somewhere in the world is a desire of many. You can holiday whenever you want and for as long as you want, which is especially great for retirees hoping to spend half of the year abroad.
Whilst you are away you will feel comfortable, at home, and since your family will only have to pay for flights, it means they can use the money they save on accommodation to come and visit you again and again!
But where do you begin looking? There is no better location for buying a holiday home than Southern Spain.
Buying property in Spain means buying into a country with pleasant temperatures and ample sunshine all year round, so if you want to flee the bleak English winter for six months, you can enjoy averages of 12°C between December and February. You will also have guaranteed hot weather for all of your summer visits.
Mercers are featured in this article taken from Yahoo Finance.
Due to a strengthening Pound Sterling, the average property price in Murcia, Spain is now something like 60% cheaper than in 2008.
This is due to the property values having fallen by 50% and a 10% weakening of the Euro. All of this add’s up to a buyers paradise in Spain and in Murcia where there are some excellent bargains to be snapped up.
The following article explains more:
We are very proud to announce that we have been awarded Best Real Estate Agency Spain 2014-15 in the European Property Awards.
Spain is another country where there are bargain prices that are likely to stay affordable during 2012. In parts of Spain you can get a new villa for €50,000. There seems little doubt that for those with the many Spain looks like a good buy in 2012. One area that a lot of people are talking about it Murcia where the new ParamountTheme Park is due to start construction in 2012.
Mercers the most successful agent in Mazarron opened their new larger offices on Camposol Golf Resort on 17 November.Mayor Gin?s Campillo, cut the ribbon and toasted the thriving local business.
For the 1st 6 months of 2013 Mercers have achieved a 70% increase in the number of properties sold, in with 60% going to Brits and the rest to French, Belgium, Dutch, Swedish and German buyers.
When a decade-long building binge came to a magnificent end in 2007/8, Spain fell from grace in the eye of the property investor. However an uplifting u-turn is underway with industry experts now calling the nation a “star market”.
The headlines shout ‘foreign boom’, foreign buyers snatching up Spanish property at a rate of knots, but Murcia agent Mercers says if banks continue to be tight with their loaning, full recuperation of the property market is a long way off.
Chris Mercer, Director of 30-year established Mercers, says, “The greatest loan-to-value for non-residents in Spain today is around 60%. However, the client must also pay 15% of the purchase price in taxes and fees so, unless you’re purchasing a bank repossession where they may lend up to 100% or more, you really want easy access to around half the money to buy a Spanish property. This debars a large number of people who require larger loans.”
Spain’s notaries record a huge increase in sales in the year, but it’s no thanks to the golden visa a new report from the General Council of Spanish Notaries has found that:
Spanish residential sales in Q1 2014 were up 45%
Mortgage loans for house purchases in Q1 2014 up 48.3%
Average mortgage loans in Q1 2014 up 8.5%
Sales in the year to March up 37.6%
Average price per square metre down 4.8% to €1,248 in year to March.
After 5 years of decline it appears as though Spanish property prices might have bottomed out. When the credit crunch hit the Eurozone in 2007, 700,000 homes fell to the Spanish banks. Within the Murcia area in 2007 an average price for a property was EUR 147,000. This decreased annually to EUR 45,000 in 2012, meaning some properties were actually being sold at 70percent lower than their maximum prices as banks were pressured by the European Central Bank to rebalance their books and clear away under-performing property resources. But, it appears as if average prices in 2013 are going to go up to EUR 55,000, indicating that the market may have bottomed out.