The European Central Bank reduced rates yesterday by 50 basis points to take the Euro interest rate to an all-time low of 1.5%. Euribor, which is used for the majority of mortgage calculations here in Spain, has also been heading down and is currently under 2%, and more falls are expected. Hopefully this may help to persuade buyers that now is the time.........because it's not due to a lack of interest.
We are currently experiencing nearly double the number of "hits" on our properties at Expocasa/Facilisimo, the Spanish property portal compared to all of last year and the ration of clicks to enquiries is at 20%, a high going back as far as January 2007.
Another reason to remain positive.
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