The Ultimate Homes Blog

Good news in that the Euribor rate, used to calculate mortgages in Spain, has this month seen its biggest fall since October 2001, more than six years ago. From its close in December of 4.79% it has subsequently fallen to 4.5%, which in time will have a knock on effect for mortgage payers.

According to a survey published this month by A Place in the Sun magazine, property investors like a bit of adventure mixed in with a fair amount of security when making a choice of where to buy abroad. It came as little surprise that it’s good old Spain that takes the number one spot for the second year running as the UK’s top overseas property spot but check out whose creeping up the stakes. Organisers at the recent A Place in the Sun Live exhibition, at the NEC Birmingham, conducted the poll amongst attendees: France maintained its 2006 second place on the chart and Turkey surged into third place, thanks to a wide marketing campaign and broad tourism investment across the country. Countries that many thought would feature highly are clearly just not that popular any more - for many, a case of the reality not living up to the hype. Bulgaria and Croatia were two to suffer significant drops in popularity on last year, down 5 and 6 places respectively. The USA’s weak dollar continues t...

The evolution of foreign investment in Spanish property continues. From the heights of the 7.072 million Euros invested in 2003, followed by 6.650 million in 2004, 5.495 million in 2005, and finally 4.766 million Euros in 2006, the figures for 2007 appear to be bouncing back. The latest figures available show that up until the end of October, 4.721 million Euros has been invested by foreigners in property, which is some 22,9% more than the 3.840 million Euros invested in the first ten months of the previous year, 2006. Also, the month of October registered the second larhgest volume of investors for the year with a total investment of 547 million Euros, and that compares very favourably to the 435 million Euros invested in the October of 2006. When the headlines scream sell, the smart investors move back in.

Although the overseas property market has expanded and diversified - where probably even the most obscure country has a website dedicated to the wonderful investment opportunities to be found within - Spain remains the perennial market leader; a position that we believe it is set to hold for a long while to come. As far as love affairs go, the Brits’ infatuation with Spain has often bordered on the obsessive. From their constant desire to pop round for a visit (16 million Brits descend on Spain every year), the Brits have been doe-eyed for Spain since the first package-holiday tourists touched down in the liberal, swinging sixties. Since then, we have been transfixed by Spain’s beauty, heat and relaxed attitude. And while France is more ‘her indoors’ - appealing to an older, more traditional crowd - Spain has definitely played the role of the sultry mistress, where playing away has never been more fun. But is the love affair over? Has Spain lost its appeal? Are our heads being turned b...

We at Ultimate Homes would like to wish everyone a Happy New Year 2008, full of good times, happiness and prosperity. And whilst the festivities in Spain will continue until Sunday evening, by which time the Three Kings will have been and gone, I hope you have all had a good one!! Finally, a thought for the new year - choose your real estate agent carefully, even be nice to them, especially the good one's because underneath it all, they might even be human.