SPANISH PROPERTY MAGAZINE ISSUE 20
SPAIN *
SPANISH PROPERTY MAGAZINE (SPM) Issue 20
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN
GOING IT ALONE ESTATE AGENTS OR PROPERTY FINDERS?
OPTION CONTRACTS? NO THANKS, NOT USUALLY
THE GOOD OLD DAYS FOR FOREIGN BUYERS IN SPAIN?
Welcome To The Magazine
Editor’s Note
Fully formed the new Spanish Property Magazine comes as an Easter special in the middle of the month. A time when the oranges are ripest, the melons are mouthwatering and lots and lots of people get jealous for a bit of that Spanish sunshine and lifestyle meaning lots of property visits
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This month we have a lot of great content from the Spanish Property Network website, “Ten Things You Ought to Do Every Day When Living in Spain”, properties that are just such good value they make you want to immediately jump on a plane and some more news on option contracts and the purchase process in Spain.
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If you have any questions or suggestions or simply want to comment get in touch with us. Hugely busy first quarter so long may it continue.
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Enjoy and subscribe here for future
Created, Curated and Edited By Graham Hunt
Spanish Property Magazine Publisher Valprop Ltd
Editor Graham Hunt
Design Maria Hunt
Subscriptions Contributors In This Edition
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Graham Hunt - Simon Harris Lisa Sadleir - #WABAS12
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Featured Properties In Barcelona - Malaga - Valencia
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Photography Graham Hunt: Lisa Sadleir
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Design Graham Hunt Cover Photos Oranges
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Magazine Featured Content
Main Story
Written by Graham Hunt
Spain
ARE THE GOOD OLD DAYS BACK FOR FOREIGN PROPERTY BUYERS IN SPAIN?!
Features WHAT HAPPENS WHEN THE BARGAINS DRY UP?! BY GRAHAM HUNT
GOING IT ALONE, ESTATE AGENTS OR PROPERTY FINDERS!
BY THE SPN OPTION CONTRACTS?! NO THANKS!
100 TIPS FOR MOVING TO SPAIN PART 19
BY THE SPN! + A WHOLE LOT MORE INC A LOT OF GREAT PROPERTIES IN ALL AREAS OF SPAIN, 10 THINGS YOU SHOULD DO EVERY DAY AND SOME EXCELLENT BACKGROUND INFORMATION ABOUT SPAIN
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN
YOU COME TO SPAIN FOR A LIFESTYLE CHANGE IN GENERAL BUT THEN A LOT OF PEOPLE LAPSE INTO THEIR OLD HABITS FROM BACK HOME, WATCHING TOO MUCH TV, NOT GOING OUT AND NOT BEING OPEN TO NEW EXPERIENCES. HOWEVER FOR THOSE WHO INTEGRATE INTO THE COUNTRY THERE ARE THINGS THAT THEY DO MOST EVERY DAY AND HERE IS A LIST OF TEN OF THEM THAT WILL MAKE YOU FEEL MUCH MORE LIKE YOU ARE LIVING IN SPAIN AND BEING A PART OF SPAIN.
Siesta Video
1) Have a siesta without feeling guilty. I have said before in my 100 Reasons to Move to Spain series on YouTube that siestas are one of the great reasons to live in Spain. If you look on twitter it is the main reason people give when they say they are moving to Spain. However most people get to Spain and their conditioning doesn’t allow them to have a siesta without feeling extremely guilty. Don’t go there! The siesta is a fantastic thing to do and it doesn’t necessarily need to be after a long lunch (See number 3) If you feel tired then just chill out, lay down and spend twenty minutes getting forty winks. And just one tip don’t have a two hour siesta or longer. I used to do it and it just kills you for the rest of the day and then you won’t be able to sleep very well later on because you won’t be tired. Siestas rule but anything over 45 minutes isn’t a siesta really, it´s just going back to bed.
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN 2: Go into your local bar and have a conversation. There is one thing that you must do in Spain, get out of your comfort zone. If you are willing to take this step there are two possibilities, firstly everyone thinks you are the local nutter and secondly you actually start to speak in another language and get used to speaking it outside of the classes you are taking (You WILL be taking classes won’t you?) The more you get out of your comfort zone every day the better your language skills will be and bear in mind one more thing, you might actually become friends with the other regulars in the bar. !
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3: Aim to take at least two hours for eating lunch out and make sure you have some wine with it. Not every day of course on this one because even though eating out is cheap in Spain it is much cheaper to eat at home. However you should always try to have a weekly meet up with friends, go for a menu of the day and talk for a long time afterwards while finishing off the wine and maybe ordering a cognac or two (and maybe even continuing the “sobremesa” into the evening).!
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4: Take Some Time Out To Daydream and Look Up. The number of people these days who walk around with their eyes constantly on their Smartphone never looking around or looking up is amazing. (Yes Guilty as charged here too at times) Looking up is important when living in Spain because there is beautiful scenery in so many places and the cities are visually stunning at times. Equally, daydreaming is welcome as Spain needs some ideas and you imagining what you can do in this wonderful country to help make it better is needed. One small thing though, if you are walking round in the city make sure to look down every now and again to avoid potential traps in the form of little presents left by our canine friends and not cleaned up by their owners, a constant menace.
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN 5: Go Into Local Shops and Ask For Things Rather Than Shopping in Supermarkets. It is easy to go to a supermarket and never actually say a word to anyone while buying 100 Euros of produce. It is not so easy to go into the butchers to buy your meat, go to the bakers for bread and cakes and then to the fruit and veg chip for everything else. This small change in your habits will be not only more beneficial for your language skills but also it will help you to get used to using the type of language that you use everyday in Spain and get to know the names of everything. So vocab improved, pronunciation improved and getting to know the people who live and work around you, what’s not to like?!
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6: Walk Around Smiling and Saying Hola To People. Again in Northern Europe people walk with their heads down, on non rainy days because as previously mentioned they are buried in their Smartphones and usually, when it is raining, because you are grimacing against the wind and rain as it lashes into you. However don’t make the mistake that the father of a friend of mine made years ago. He was walking around doing this but saying “Hello” to everyone. My friend asked him to please just try to say “Hola” if he could. However next day when he went out the first person he walked past got a resounding “Aloha!”!
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7: Make time every day for a coffee with friends. Chatting and talking about life the universe and everything is an important part of life in Spain and this is best done in the company of friends in a greasy spoon corner cafe. Make sure you do this often because firstly, you get to meet up with others and laugh and secondly, you get to have great coffee. One caveat, NOT IN STARBUCKS!
10 THINGS YOU SHOULD BE DOING EVERY DAY IN SPAIN 8: Be Grateful For The Weather And Climate. I woke up last week with the rain hammering down on the air conditioning unit outside and my thoughts were immediately, “Cool! It’s raining”. With 320 days of sunshine every day in the vast majority of the Spanish mainland (We will exclude Northern Spain and the Green Coast for obvious reasons) days of rain are welcomed rather than feared and when they come they are generally a welcome change. So when you are shading yourself from the sun don’t say “Jeez it’s hot” Just say “Nice innit!”!
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9: Do Some Promotion of the Country. Spain needs help. If you are here and enjoying it let everybody know. Tell them on Facebook, share pictures on Instagram, make people jealous on Twitter, mail people regularly and phone people you know. Everyone can complain and most people only like to tell everyone else when something has gone wrong. Make sure that people know that your life in Spain is not as bad as the media paints it to be where only the negatives appear on a regular basis. Rejoice in the diversity, the rituals, the differences and the general weirdness. Enjoy it. !
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10: Relax, slow down, chill out and enjoy. I know it may seem a bit much to try enjoying your life in Spain ;-) but slow down and take advantage of a more relaxed way of life and a general calmness. If you can do this then you never know you may find that everything becomes a bit better. !
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So there you go, a guideline for a better life in Spain. 10 things you should try to do daily, (or at least weekly in a couple of cases). What else would you suggest? Let us know on SpanishPropertyMagazine@gmail.com
INTRODUCING THE SPANISH PROPERTY NETWORK GRAHAM HUNT
NICK SNELLING
LISA SADLEIR
DAVID LEIGH
SIMON HARRIS
GOING IT ALONE, ESTATE AGENTS OR USING A PROPERTY FINDER
GOING IT ALONE, ESTATE AGENTS OR USING A PROPERTY FINDER When you are looking to buy Spanish Property there are many approaches available. You can do it yourself, you can go through agents or you can use a property finder. In this article we are going to look at the pros and cons of each approach and then of course we are going to recommend you use our services as Property Finders for your Spanish Property Search.
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1) Going it Alone!
There is nothing wrong with doing this, after all many people do it successfully. However there are some limitations for the majority of people when they take this approach. The advantages are obvious; there are no commissions involved, you get to deal directly with owners of properties and it is somehow more exciting.!
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However there are major drawbacks too. Firstly you generally get less of a selection because the majority of sales in Spain are still done through agents or intermediaries. Secondly how are your language skills? If you do not speak fluent Spanish then you will most likely not be able to communicate with the owner as it is unlikely that they will speak your language. Thirdly, there is no background check of the property done and although you will use a lawyer to do the conveyancing (You WILL be using a lawyer right?) buying property on the promise of the owner who says everything is hunky dory is a little risky.
GOING IT ALONE, ESTATE AGENTS OR USING A PROPERTY FINDER !
2) Using Estate Agents!
Estate agents (I am one, Graham speaking here) are good, bad and indifferent in all parts of Spain. During the boom years everyone and his dog had an estate agency and the quality of them was debatable in most cases. The bust came and up to 80% of estate agents in Spain closed their offices. The ones that remained tended to be the better ones and the worst ones. Why? Well the worst ones had ripped off som many people for so much money they were able to survive the slump. The better ones lived on referrals and their reputations until the market came back (Which for foreign buyers it has now. See the stats here)!
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When searching using an estate agent, obviously you can start on the property portals, you can narrow your search down to one area and visit the websites of all of the agents in that area until you find properties that you like then make your own appointments. You can choose an area, find the agents in that area and visit them. However in many cases in effect you are flying blind. You don’t know if the agent is reputable, you don’t know if they are only showing you properties that make them the biggest commissions and you rarely get a good background of the area.!
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The advantages are that an estate agent with an established reputation in an area may get offered the best properties and the better deals from the local people who know them. They act as the key holders for many owners who do not want to receive hundreds of calls from other agents, curious neighbourhood gossips and potential buyers. Therefore if you go down the “Going it Alone” route you may not get a chance to see these properties.
GOING IT ALONE, ESTATE AGENTS OR USING A PROPERTY FINDER !
3) Property Finders in Spain!
At the Spanish Property Network we are property finders in Spain and we believe this gives you a level of service, choice and variety that you would otherwise not get. A property finder in Spain works with agents, private sales and portals to find the best deals for you, the client, based on your criteria, requirements and likes. The Spanish property finder establishes a relationship with the buyer and works hand in hand with them to check out properties before a visit to narrow down the field of properties to simply ones that will interest the client. Interestingly we also establish a good relationship with the sellers and agents as they know we will bring them quality clients looking to buy rather than just “tyre kickers”. Therefore they try their best to get us the best places to look at.!
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The advantages are manifold but the most obvious are the time and trust factors. Because the property finder works for the buyer there is no conflict of interest, property viewings are targetted towards what the buyer wants. Time is saved because you do not need to spend hours and hours poring over property portals and agents websites and visiting properties that, while they may look good on the agency website, are totally unsuitable because they back onto a nuclear power plant for example, conveniently missed out from the photos, or there is a huge damp problem that has not been addressed.!
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At the SPN we have a track record of success in guiding our clients to find exactly what they are looking for and we also have an excellent working relationship with agents in the areas where we operate while at the same time knowing exactly where to look on property portals, other websites and even people’s balconies to find those important “Se Vende” signs to find the best opportunities based on the requirements of our clients. In certain areas such as Valencia we also have our own listings to increase even further the scope of properties available for your search.!
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So get in touch with us on information@spanish-property.net and tell us what you are looking for and let us start working towards a common goal of finding you the right Spanish Property for you this year. Life is too short. Don’t let it wait when the bargains are out there now.
option contracts? NOT USUALLY THANKS
RENTAL WITH AN OPTION TO BUY? NO THANKS, NOT USUALLY When you are moving to Spain you have three options really for your accommodation (or four if you bring a tent);!
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1) Purchase a property! 2) Rent a property! 3) Rent a property with a purchase option The first option is fine, the second suits a lot of people too but the third presents problems peculiar to this type of contract and make coming to an agreement that suits both parties rather difficult at times. Let’s look at the issues that can come up:!
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a) The Contract: The rent to buy contract is more complicated than a simple rental contract as it has more conditions and includes clauses that need to be adhered to by both parties in the transaction that penalise one party and benefit the other. Some of these clauses are the length of the option, the upfront payment to guarantee the option, the amount payable per month, fluctuations in the market, clauses about responsibility for damage and insurance and the amount set aside against eventual price. There also need to be clauses in case of non payment of any current mortgage, against debts incurred on the property during the rental period, clauses about utility bills and services and responsibility towards any community. As you can see there is a lot to consider.!
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Within these potential issues let’s take a look at some of the major problems:!
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The Length of the Option – There are various reasons to have a rental with an option to buy contract, One of them involves the current lack of funding in Spain for purchase through mortgages. It is unknown how long this lack of funding may take to resolve itself and for mortgages to become more freely available. Therefore setting a fixed time period for a client who wants to get a mortgage is fraught with danger for the buyer who may easily lose their deposit and part payments made if they are unable to secure funding further down the line. An open time period means there may well be no escape from an indefinite situation for the seller. Finding a mutually convenient time period to exercise the option can therefore be difficult.
RENTAL WITH AN OPTION TO BUY? NO THANKS, NOT USUALLY The Upfront Payment – Both parties need to be tied into an option contract for it to have any effect. It used to be that an option contract would always have an upfront payment that offsets the eventual price of the property, i.e, if the cost of the property is 200,000 Euros then the upfront payment may be 20,000 Euros and then there are monthly payments of 1000 Euros. If the property is then bought after a year then the final payment is 200,000 – 20,000 – any agreed discount from the monthly payment (More on that later) If both parties are not tied in through an upfront payment, which is becoming more normal these days, then there is little likelihood of completing a successful sale through the rent to buy contract because of the reasons given below in the Experience section. As a buyer it is in your interest to have a contract that benefits you without having to shell out an upfront payment on an option contract.!
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The Amount Payable Per Month – Oftentimes the monthly payments are discounted in their entirety from the full cost. However there are cases of the monthly payments only partially offsetting the cost. This is typical where there is a mortgage for example and part of the payment goes to cover the mortgage repayments or interest during the life of the option contract to guarantee no actions are taken from any bank to repossess a property and the payments are thus used for the right reasons. The actual terms and conditions of this clause are subject to detailed negotiation between the buyer and seller and cause no end of friction and arguments normally.!
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Fluctuations in the Market – If a contract time period is a couple of years or even longer there is a good chance that there will be movements in the market meaning that the set price is either too high (In a falling market) or too low in a rising market. Obviously whichever way the market moves benefits one party and penalises the other. This may cause a lack of goodwill in one of the parties making the eventual purchase more difficult to bring to a successful and happy conclusion.!
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b) The Cost: Rental usually costs more on an option contract because the contract means you are partially buying into the property and also the tenant may want to offset the final amount to a greater extent. A property that can be rented for 1000 Euros may well cost 1500 Euros per month on an option contract so that the final amount is reduced by offsetting. If you are happy to overpay for a rental then fine. However it cannot be recommended as a great way to spend your money.
RENTAL WITH AN OPTION TO BUY? NO THANKS, NOT USUALLY c) The Experience: One of the things that can be guaranteed when somebody is renting with an option to buy is that they will find out about any hidden problems that the house may have or that problems will come up during the life of the rental. This will almost always scupper the option contract and the tenant will buy another property rather than the one they are living in (They never get to find out about the issues that the other property has, it just looks perfect). It is therefore quite pointless having a rental with option contract for the tenant because they will then lose the upfront payment if they do not complete and any part of the money that has been used for the rental cost during the time they spent there.!
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The tenant may also do work on the property during their occupation of the house and this work may be for the benefit of the property or not (It all depends on taste) A botched attempt to change the kitchen for example may knock thousands off the value of the property and this all becomes a problem if the option isn’t taken up. There need to be clauses in the contract about the ability to perform modernisations or work on the property while at the same time making sure that basic essential maintenance is always done.
RENTAL WITH AN OPTION TO BUY? NO THANKS, NOT USUALLY d) The Relationship: A medium or long term rental will almost always cause friction between landlord and tenant. A rent to buy contract may increase those problems ten fold because both parties believe the house to be theirs, in the case of the landlord rightly as the final payment hasn’t been made and in the case of the tenant (wrongly) because they do not hold the deeds through having signed at a notary. However you will always find that they have bought into the property both monetarily and emotionally. Relationship issues will cause disagreements at the contract and completion level even if the contract is watertight.!
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e) What Happens if…?: There will come a point in the life of the rent with an option to buy contract that the tenant decides they do not want to go through with the purchase. At that point they may still be living in the property of course but be actively searching for another property to buy. Access for the landlord to show the property to other potential parties is essential at this stage and that may well interfere with the tenants’ daily lifestyle. At this stage you will most certainly find that the relationship between the two parties is at its most stretched because the landlord will be disappointed that the contract and sale will not be completed and may well be desperate to get the property really back on the market.!
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For all of these reasons and a whole host more I really cannot recommend a rental with an option to buy contract. As a buyer if you really think you want a place but cannot afford it at the moment for whatever reason then do everything you can to convince the owner to do you a rental or find a way to finance the purchase. It will probably save a lot of problems going forward.!
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As a buyer if you have no other option than to do a rent to buy option then make sure the upfront payment is minimal and you have the right to purchase the property at the stipulated price at any time during the contract. Also make sure that there are no other penalties if you do not complete apart from the loss of monthly payments made or any upfront payment that you may have made. Make sure that the contract is equivalent to an “Arras” contract not a “Compraventa” contract where you can be obliged to purchase the property.!
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And finally don’t worry too much. If there is pressure to do a rental with an option to buy contract then just walk away. There are plenty of properties available both for rent and purchase which would present you with fewer complications. And life in Spain is meant to be a lot simpler not fraught with complications and problems. Tranquilo!
ARE THE GOOD OLD DAYS BACK FOR FOREIGN BUYERS OF SPANISH PROPERTY?
ARE THE GOOD OLD DAYS BACK FOR FOREIGN BUYERS OF SPANISH PROPERTY? Here at the Spanish Property Network we like Marbella, we have lots of properties there so why wouldn’t we? But it has been a good month for Marbella property and the town in general. Firstly, in the Daily Telegraph Zoe Dare Hall, an excellent commentator on the Spanish Property Market, talks about the ultra high end of the Spanish Property market where sales are being driven by the demand, especially from China, for the Spanish Golden Visa for residency on property purchases over 500,000 Euros. It seems that many nations have taken the possibility of the Golden Visa as a signal to start investing in Spain. You can see more about the Spanish Golden Visa and our Spanish residency project on our blog. We are seeing excellent results for this opportunity among American buyers, especially in Barcelona.!
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Secondly Sur reports that Marbella is the place where sales grew the most in the whole of Spain last year as a percentage. The figures show a 23% increase last year and sales volumes are now approaching pre crisis levels. This compares very favourably of course with the 17.4% drop overall in Spain in the number of property transactions. However this increase is not just visible in Marbella. Estepona with a 9% rise, Mijas with a 4% rise and even Benalmadena with a very small rise had more property sales last year bucking the trend of Malaga province (Where eastern Malaga fared badly) and Spain as a whole. Strangely enough the beautiful city of Malaga also had a reduced number of sales, this time for a third year in a row. !
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Look at the table below for transaction figures for 2013. Malaga is in Andalucia of course in the second column. Almost as many sales as in 2007. Read on for more analysis.
ARE THE GOOD OLD DAYS BACK FOR FOREIGN BUYERS OF SPANISH PROPERTY? The Spanish Property Market as a Whole!
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What these figures mask though is the huge increase in almost all provinces of the number of foreign buyers over the last few years. As mortgages and any form of credit remains scarce in Spain apart from for the banks’ own properties internal, national demand continues to fall. This is offset by the increase in the number of buyers from other countries.!
! From the table we can see that sales of Spanish Property to foreign buyers have increased markedly in the last five years and they are now back to pre crisis levels in many areas. The biggest market for foreign buyers is the Valencian Community. No surprise there as that encompasses Alicante too. Sales have increased in the last five years by just over 100% in total with a total of 17908 transactions last year comparing favourably with 2007 figures. One of our other major areas, Andalucia which includes Malaga of course has also recovered massively in the last four years with transactions up 62% over the period and they are only slightly below the numbers registered in 2007. The figures for Catalunya are even better as sales volumes are up around 150% over the last five years on 2008 (which was a huge slump year).!
! Expect these trends to continue in the next year as the economic recovery in Northern Europe combined with the Golden Visa programme and continued low prices in Spain allied to a weak Euro makes Spanish property attractive for buyers.!
! So the big question is when will you be joining the large numbers of foreign buyers moving into the bargain Spanish Property market? Take a look at what we can offer you whether you are a non EU resident looking for a portfolio opportunity, a retiree looking to relax and enjoy our enviable lifestyle and climate or just somebody able and wanting to work from anywhere with broadband. For everyone there are opportunities in Spain right now.
CLICK HERE
THE SPANISH PROPERTY NETWORK AND THE SPANISH RESIDENCY PROJECT. TWO PROJECTS TO HELP YOU TO GET WHAT YOU WANT IN SPAIN
CLICK HERE
WHAT HAPPENS WHEN THE SPANISH PROPERTY BARGAINS DRY UP?
WHAT HAPPENS WHEN THE SPANISH PROPERTY BARGAINS DRY UP? Spain is particularly attractive for investors in property at the moment, as deals are available on the ground for individuals. Large hedge funds are starting to really pile into the country with both George Soros and John Paulson investing in the Hispania Real Estate Fund which is linked to the bad bank Sareb. They foresee returns on their investment.!
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Obviously, the big funds get bigger discounts. If you are putting in 127 million Euros to a bank then you expect a decent discount, compared with your average Joe looking for a holiday home or bolthole at the bottom end of the market. However, there are discounts and bargains available at the top and bottom end of the market, for the quick buyer.
What do we mean by the “quick buyer”? Well that is someone who is ready to buy now, has funds in place and is ready to go when the perfect property that suits their needs comes up. That perfect property might well come up today… or tomorrow… or next month but it won’t be around forever.!
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Why not?!
We have said it before and we say it again here: if you think something is too good to be true and a bargain then somebody else will too.!
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Recently, we had a client who overlooked a purchase because they thought there must be a catch, surely it was too cheap? The property sold the next week to the next viewer and, as a result, we have one very very happy client getting their perfect property in Spain and one annoyed client for not acting on their instinct nor our advice.!
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Going back to the title of this piece, why are we asking about the Spanish Property bargains drying up? Surely, with over 1 million properties on the market in Spain, there will continue to be bargains on the market for some time to come which people can take advantage of?!
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Yes, maybe and maybe not!!
The general consensus is that well located property has hit its base price now and has nowhere lower to go. Things that are well priced and located sell very quickly. Only last week we had a great deal come up on a flat in Valencia and it was sold even before we had a chance to get pictures on our website for you. There are hundreds and thousands of properties that are badly located, badly built and overpriced, so they will continue to fall in price (See our blog post about it here)
WHAT HAPPENS WHEN THE SPANISH PROPERTY BARGAINS DRY UP? However, experience in real estate markets all over the World suggests one thing. When the true base of a market is hit then bargains dry up because people are more ready to wait to sell as they realise prices are not going to fall more.!
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There will be individual exceptions to this rule: the four horsemen of the apocalypse of death, divorce, disease and debt. Situations which force people to sell and maybe take a hit on price. But, in general, the market will be starved of underpriced bargains because everything that comes up that could be classed as such is immediately snapped up.!
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There is another factor that will stimulate demand in the medium to long term. New confidence and liquidity in the mortgage market and maybe even new forms of financing property purchases as peer to peer lending platforms become more prevalent (There may be some regulatory issues on these especially in Spain but if loopholes can be found they will be!)!
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So, what will eventually happen?!
Well, prices will start to rise as demand grows and supply is dried up: Now don’t get us wrong. We are not calling a Spanish property price boom, that would be stupid, irresponsible and just plain wrong. What we are saying is that if you see a property for sale where you can get a 10% return on your money just by buying it and renting it out at market value, or even slightly below to guarantee a good tenant, then it doesn’t take a rocket scientist to work out that money floods into the market to take up those opportunities (Inward investment in Spain was up from 320 million Euros to 850 million Euros last year for example).!
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Now, when you consider that clients from some nationalities will take up any investments that pay anything above 3% because in their own countries they are looking at returns of 1% or less, on real estate, due to inflated prices and bubbles, then you have a scenario for competition and therefore eventual price rises.
WHAT HAPPENS WHEN THE SPANISH PROPERTY BARGAINS DRY UP? !
Portfolio Building!
When you add into this the Spanish Residency visa being offered to non EU citizens for an investment of 500,000 Euros or more, it looks a very good time to be investing in Spanish Property and putting together a portfolio that not only pays a decent return but at the same time allows you to obtain permanent Spanish residency.!
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The return may be good but, the potential for capital gain on selling is also excellent because the holding period is a long term one to retain Spanish Residency status and long term prices will rise from their current lows.!
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Read about our Portfolio service HERE ! So, What Happens When The Bargains Dry Up?!
When the bargains dry up, our current clients start rubbing their hands with glee. That’s what happens because they have made an excellent decision to purchase in Spain.!
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Do you want to join them? Tell us more in the form ON THIS PAGE.
THIS MONTH’S PROPERTIES
MALAGA
599,000 Euros
info@Spanish-Property.net
EXCELLENT MIJAS PUEBLO VILLA This large charming rustic villa is situated in the foot hills of Mijas Pueblo. The property is full of character and offers 5 large spacious bedrooms all with en-suites, a separate sit in equipped kitchen which leads into a large open plan lounge and dining area. 2 of the bedrooms are located on the ground level with the master bedroom located on the upper level which also offers a private terrace. A further 2 bedrooms are located on the lower basement level, together with a study or office area, and a large family games room with a separate kitchen. !
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The property is located on a 3000m2 plot with commanding views of the surrounds and out to sea, that are enjoyed from spacious terraces on all levels. Well maintained mature gardens and private pool make this property an ideal family home for those wanting to experience an Andalucian country lifestyle without being in the middle of nowhere. A 5 minutes' drive gets you to Mijas Pueblo, with shops and amenities being only 10 minutes away.
THE SPANISH PROPERTY NETWORK
599,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
599,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
79,000 Euros
info@Spanish-Property.net
LOVELY PENTHOUSE IN EL COTO Nice apartment on the top floor fully renovated and converted from 2 bedroom to 1, located in El Coto 300 meters from all amenities (bars, restaurants, supermarket, pharmacy, public transport, shops). !
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The distribution is as follows: ! Entrance hall, large living room with fireplace and access to the sunny south-facing terrace overlooking the garden and pool. Beautiful and bright fully equipped kitchen. Bedroom with fitted wardrobes, en suite bathroom and access to the terrace. ! Carport included in the price.!
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Very well maintained community with pool and garden. ! Built size 57,28m2. ! IBI 256,17€ per year. Rubbish 134,45€ per year. Community 140€ per quarter. ! Year of construction 1986.! Note: 2nd floor. No lift.
THE SPANISH PROPERTY NETWORK
79,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
79,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
120,000 Euros
info@Spanish-Property.net
GARDEN FLAT IN CALAHONDA Delightful 2/bed x 2/bath apartment situated in El Porton 6 at the very begining of the upper slopes of Calahonda.!
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This property is within an easy 3 minutes walking distance of a pizzeria, small supermarket, bar, and club.!
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The apartment has a south facing private terrace with a small private garden with partial sea views. The apartment comes fully furnished. Inside the apartment is cosy with a firplace in the sitting room a good sized dining area, fully fitted kitchen with a large utility area,plus two good sized double bedrooms with bathrooms en suite. There is a large private storage area just outside the front door. The pool is set in communual gardens approx half aminutes walk from the front door.the community is secure and gated.!
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The western Costa del Sol stretches from Malaga westwards to Gibraltar – the entire coastal area is within 1 hours drive of Málaga´s modern international airport.! All along the coastal road are small towns and villages with wide sandy beaches and a service infrastructure, offering everything for holiday and residential tourism.
THE SPANISH PROPERTY NETWORK
120,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
120,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
99,950 Euros
info@Spanish-Property.net
COMPACT AND PRETTY FINCA IN ALHAURIN EL GRANDE OPPORTUNITY!!! Finca with flat plot and totally fenced located 20 minutes from Malaga.! It is distributed on one level as follows:! Living room with fireplace and open kitchen, bedroom and bathroom. Air Conditioning.! Large porch, barbecue house and large dining area.!
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Property in good condition, ideal for weekends and country lovers. Plot with crops, irrigation system and chicken coop. Very good road access. Ample parking for numerous vehicles with automatic gate.!
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Plot of 3.200m2 with community well water. House 47,35m2 and barbecue 5,40m2. Total built size 52.75m2.! Community fees (water included): 30€ / month. IBI 104,28€ per year.! Year of construction 1992
THE SPANISH PROPERTY NETWORK
99,950 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
99,950 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
135,000 Euros
info@Spanish-Property.net
PENTHOUSE ON THE RIVIERA DEL SOL GOLF COMPLEX Penthouse duplex with stunning sea and golf views. This 2 bed 2 bath apartment is situated in a gated complex bordering the golf course with its own private parking and store room.! Upstairs is the master suite with its own en-suite bathroom and private roof terrace looking out over the fairway and out to sea.!
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Downstairs on entry level there is a guest bedroom with its own bathroom and views out over the golf course and to sea , a spacious open lounge dinning area which leads out to another terrace with lovely views of the pool and gardens and out over the golf course. From the kitchen there are views to the mountains. The property is being sold fully furnished and equipped. Good location and stunning views from all rooms, this penthouse would make a good rental investment or holiday home.
THE SPANISH PROPERTY NETWORK
135,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
135,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
795,000 Euros
info@Spanish-Property.net
5 BED LUXURY ATALAYA VILLA MONTE BIARRITZ: Very nice villa situated in the urbanization of Monte Biarritz, close to San Pedro de Alcantara, restaurants, shops and transport. The property has 5 bedrooms and 3 bathrooms plus guest toilet, large living room with fireplace and dining area. Covered and open big terraces on each floor to enjoy the sun and the shade all of the year. !
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Large private garden with big swimming pool. Garage for 4 cars. Very private with nice mountain views and partial sea views. Quiet area, and ideal for a family.!
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Well established residential area perfectly situated with walking distance to all amenities, such as restaurants, bars, shops and even the beach. Only 5 minutes in car to the beautiful white mountain village Benahavis and Puerto BanĂşs.
THE SPANISH PROPERTY NETWORK
795,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
795,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
167,000 Euros
info@Spanish-Property.net
MONTE BIARRITZ BANK REPO Atalaya Green, Monte Biarritz. Bank repossession at a bargain price! 3rd floor 3 bedroom, 3 bathroom (all en suite) apartment situated in a well maintained gated community within walking distance of local amenities. Garage parking space included in the sale.!
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The property has lift access from the entrance or parking garage and the accommodation includes an entrance hallway leading to a spacious lounge/dining room which opens onto a covered southwest facing terrace which overlooks the gardens and pool. The master bedroom has fitted wardrobes with an suite bathroom with bath and shower over. Direct access to the terrace. The second and third bedrooms both have fitted wardrobes and en suite bathroom with bath and shower over.!
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Cream marble floors. window blinds. Garage parking space.
THE SPANISH PROPERTY NETWORK
167,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
167,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
250,000 Euros
info@Spanish-Property.net
CORNER TOWNHOUSE AT LAS CANCELAS IN MARBELLA
Completed in 2001, in a quiet position, this sunny east west facing townhouse is ideally located just 3 minutes drive from Marbella town centre and the beach.!
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Las Cancleas Marbella is an Urbanizacion Just north of Marbella, a Little way above the central Marbella bus station.!
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Spacious community of around one hundred and fify properties which is gated to enclose lovely gardens and three pools. The building type is of the whitewashed classic Andalusia type.!
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The spacious townhouse comprises an entrance hall-Patio with a guest toilet, in the second floor leading to the sunny living room and open plan dinning room and a fully fitted kitchen. On the first floor floor there is the master west facing bedroom with an en suite bathroom and mountains views. There are two further bedrooms on this level,sharing a bathroom.!
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Also included in this offering is a beautiful mature garden with an attractive swimming pool. There is communal satellite T.V available.
THE SPANISH PROPERTY NETWORK
250,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
250,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
BARCELONA
545,000 Euros
info@Spanish-Property.net
MAGNIFICENT LARGE TOWNHOUSE IN THE CITY OF BARCELONA This magnificent town house located on Passatge d’Artemis just off Passeig Maragall in the Navas neighbourhood stands out both for its decoration and design. The house is distributed over three floors with a living area of 257 m2 plus an interior courtyard of 40 m2.!
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The ground floor, which leads directly out into the courtyard, comprises three bedrooms, a living-dining room and complete bathroom.!
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There are two bedrooms, a living room, kitchen, washroom and toilet on the first floor and in this case access to the courtyard is via a set of stairs.!
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The top floor has three bedrooms, a library, a dressing room and a complete bathroom plus a balcony that looks out onto the street.
THE SPANISH PROPERTY NETWORK
545,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
545,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
995,000 Euros
info@Spanish-Property.net
EXQUISITE CHALET IN PREMIA D’ALT ON THE COSTA BRAVA This luxurious modern chalet locate in the the Puigdepedra Residential Estate in Premià de Dalt is set in 500 m2 of gardens with a swimming pool and jacuzzi. The chalet has six double bedrooms one with an en suite bathroom and an ample terrace with spectacular sea views. There are four more complete bathrooms.!
! The spacious living room occupies 45 m2 and gives on to a 25 m2 openplan kitchen with a separate pantry and there is also a large bodega with a fireplace.!
! There is a garage with parking space for three cars as well a security system and video entry system.
THE SPANISH PROPERTY NETWORK
995,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
995,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
499,000 Euros
info@Spanish-Property.net
ATTIC APARTMENT IN POBLENOU This fantastic attic apartment on Carrer Llull in fashionable Poblenou offers fantastic views looking out over Barcelona from its large terrace.The building is 13 years old and the apartment is centred around a large livingdining room and an open-plan kitchen but the main feature is the ample 60 m2 terrace.!
! There are also three bedrooms (previously four), two bathrooms and a large balcony, which functions as a chillout space separate from the terrace..!
! The apartment features parquet, air-conditioning, heating and all installations are of the highest quality but its most attractive feature is the sense of space and light.
THE SPANISH PROPERTY NETWORK
499,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
499,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
VALENCIA
550,000 Euros
info@Spanish-Property.net
EXCELLENT PROPERTY NEAR THE BOTANICAL GARDENS IN VLC Superbly presented property by the Botanical Gardens in Valencia. Three bedrooms and two bathrooms with a large 30m2 terrace overlooking the Botanical gardens is the basic spec but it is so much more. High quality fittings throughout, large open spaces and a luxury feel right in the heart of Valencia. !
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Extremely high quality modernisation with a 20m2 terrace which feels as if it is actually in the Botanical Gardens themselves. All of the furniture was built specifically for this apartment so everything fits perfectly. original ceiling heights of 4m have been lowered to 3m to use for the air conditioning throughout the flat. There are even 30m of wardrobes here so you need a lot of clothes to fill them.
THE SPANISH PROPERTY NETWORK
550,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
550,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
225,000 EUROS
info@Spanish-Property.net
BRILLIANT DEVELOPMENT PROJECT IN CENTRAL VALENCIA Let's start at the very beginning shall we: You cannot move straight into this one. It needs work, we estimate around 60-100k of work but on finishing you would have a huge central Valencia apartment that you could either sell on for a good capital gain or live in perfectly with everything just metres away from your property. !
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Third floor apartment with a lift where the modernisation was started some years ago until the owner ran out of money it seems. The kitchen is newly tiled for example and there is a new shower unit and whirlpool bath waiting to be installed but he never got around to it. !
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The flat is set around the interior patio meaning there are many ways to divide it up in the new modernisation you could do. There is even an outside terrace with barbecue space and a loft area for chilling out. Set just 40m away from the central Plaza de la Reina this is an absolute bargain at this new price but bear in mind it will take quite a lot of work to make it yours. !
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Come and see it and we can get an architect designer in and make this place really special.
THE SPANISH PROPERTY NETWORK
225,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
225,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
129,000 Euros
info@Spanish-Property.net
LOVELY MODERN APARTMENT JUST YARDS AWAY FROM THE PATACONA BEACH IN VALENCIA Great apartment just yards away from the Patacona beach in Valencia featuring a shared pool which can be seen from the terrace of the apartment and common areas. !
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The apartment has two bedrooms a good sized living room with balcony, kitchen with wash area on the gallery and a bathroom and is air conditioned throughout. The complex is seven years old and has security and is very well positioned just opposite the Patacona beach.
THE SPANISH PROPERTY NETWORK
129,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
129,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
59,500 Euros
info@Spanish-Property.net
VALUE STARTER FLAT BY THE MALVARROSA BEACH IN VALENCIA Reduced price apartment on the Avenida de Malvarrosa, the main shopping street of the Malvarrosa beach area. This three bedroomed property is on the third floor without lift but has plenty of space to play around with and is well priced at 59,500 Euros reduced from 75k.!
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Lots to think about as a modernisation, do you want the living room to the front rather than in the middle? How do you tally that with the kitchen being to the rear etc? However a good price in a good area just around 400m from the beachfront of Malvarrosa. The area is solidly developed with all facilities within a short walk, excellent public transport systems and easy parking all year round. It is opposite a small market one day a week and almost above the local supermarket. Would suit a young couple looking for a good investment to put their own stamp on.
THE SPANISH PROPERTY NETWORK
59,500 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
59,500 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
199,000 Euros
info@Spanish-Property.net
LOVELY GROUNDS AND A REDUCED PRICE ON THIS LLIRIA HOUSE I originally sold this property around nine years ago to a couple who had the most gorgeous Rhodesian Red dog. They sold it on seven years ago after adding an extension to the back to the current owners. !
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The basics of the house are as follows, three bedrooms, bathroom, large kitchen, very nicely sized living room, large covered terraces to front and rear and an outhouse with bedroom and bathroom.!
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The house is presented like a showhouse being meticulously clean and with more pillows than you can shake a stick at. It just invites you to luxuriate in it. !
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Outside the house there are the most delicious gardens. Beautifully tended and cared for they are used ten months of the year with plenty of wooden benches placed thoughtfully around to enjoy soaking up the sun.!
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The house is on an estate just 2km away from the metro station at Benaguasil and three away from the other metro station at Lliria. The plot is 1300m2 and the house around 120m2 plus terraces. Priced for negotiation at 230,000 Euros it is well worth taking a look at.
THE SPANISH PROPERTY NETWORK
199,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
199,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
230,000 Euros
info@Spanish-Property.net
HUGE PRICE REDUCTION ON THIS PORTACOELI PROPERTY
This is another well presented house on the Portacoeli estate and it is now very good value having being reduced from 360k to 230k (Originally the owners had it at 500k!)!
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It has five bedrooms, two bathrooms, large living area, double garage, kitchen, covered terraces and an outhouse with bathroom, paellero/summer kitchen, storeroom and machine room. !
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The gardens are the clincher here, full of mature trees and lots of grass there is also a kidney shaped pool, wood store, off road parking and it is all very neat, easy maintenance and well presented.!
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Comes totally furnished and ready to move in. You just need your toothbrush
THE SPANISH PROPERTY NETWORK
230,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
230,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
140,000 Euros
info@Spanish-Property.net
SNAP UP THIS BARGAIN AT HALF PRICE IN VILLAMARCHANTE HUGE DISCOUNT OF 130K!
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This superbly appointed and presented property in Villamarchante stands on a large plot of some 1000m2 with lovely gardens and pool. Set around 4km outside Villamarchante between the town and Cheste the property offers a very high standard of living in a lovely countryside location. !
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The house itself has four bedrooms, two bathrooms, two kitchens and two living rooms and two covered terraces. The reason for this is that the house used to be two separate floors that were independent from each other but has now been put together with an interior staircase to unite the house making it a delightful place.!
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The grounds have a swimming pool, outhouse with paellero and woodstore, two dining areas, one of which is totally enclosed with ceiling fan, lovely trees shading the garden, a garage with plenty of room for storage and an area that is landscaped to reduce work on the garden. !
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The house has central heating and all mod cons and there is a telephone, electric and water. A very nice place to live.
THE SPANISH PROPERTY NETWORK
140,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
140,000 Euros
info@Spanish-Property.net
THE SPANISH PROPERTY NETWORK
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