The Ultimate Homes Blog

This is without doubt a unique opportunity to own one of most prestigious properties in this area of the Costa Blanca, and is available now at a drastically reduced price of 1.95 million Euros. Villa Arabesque is an imposing property with breathtaking views of the surrounding valleys nestling in the foothills of the Montgó Natural Park and a short drive to Jávea. Centrally located between the cities of Valencia and Alicante, Jávea is the perfect place to enjoy every aspect of the Spanish lifestyle; from the vibrant old town of Jávea to the thriving new port and harbour of nearby Dénia. See our photo gallery here or contact us at info@ultimatehomes-spain.com for more information.

Not many real estate markets in the world have been hit harder than Spain's, but according to one economics professor the pain will come to an end soon. The professor lists five reasons why he believes the Spanish real estate market will recover this year in the following article from Property Wire . The Spanish property market will come back to life this year, according to one real estate expert who is sceptical of official figures.Gonzalo Bernardos, a professor of economics at the University of Barcelona, believes that there will be more property sales in 2009 than there were in 2008. He list five reasons why this is likely; lower interest rates, property prices at 2003 levels, banks lending more, the return of property investors, and many people who were thinking of renting deciding to buy instead. He believes that demand for property is tempered by the cost of mortgage borrowing. With interest rates declining, Bernardos expects sales to pick up. "There is a fundamental var...

It seems that the Spanish Government will allow the construction of Gemelos 28 in Benidorm after all. News reaches us today that there has been a rethink over the two emblematic tower blocks under construction and very close to the beach in Benidorm. The stunning development of two tower blocks measuring 22 floors and containing 168 flats are being built by the developer Ballester Inmobiliaria on Punta Llisera, at the very northern end of Benidorm’s Playa Levante. Building work has been stopped for some time now due to the issue of a compulsory purchase order back in 2007, but not before the structure of all 22 floors had been built. The Ministry of the Environment says that it will not proceed with the expropriation of the property, citing the “general interest” as the reason for the decision.

With all the doom and gloom around, we have been pleasantly surprised to see a huge uptick in internet hits and property enquiries over the last few weeks. It would seem too that we are not alone as reported by Kyero a few days ago. Many of the portals that we advertise on are recording record numbers of visitors and enquiries, and most importantly for us, Spain is still one of the top destinations on the wish-lists. Enquiries are coming from everywhere too, with the Dutch market especially strong. Recent bank campaigns from CAM and Santander (see earlier blog about their 100% mortgage) have probably heightened awareness that we could be closer than many think to a bottom in the local property market. Long may it continue.

Last week Banco Santander and the Asociacion de Promotores Constructores de España (APCE) signed an agreement to offer mortgages of up to 100% of the transaction assuming the promoter has reduced prices by at least 20%. At the moment the offer is limited to those promoters which have financed their projects via Banco Santander. It will allow buyers to enter in to an agreement to purchase a property without the need to pay a deposit of typically 10 to 20%. This is the first agreement by a Spanish bank to help the property market get moving again and will hopefully go some way to reducing the overhang of new build property available, which is estimated at anything between 500,000 and one million properties throughout Spain. Defintely a step in the right direction.

This is a delightful property which I visited last week located a few kilometers from Moraira, on the northern Costa Blanca. This semi-detached property forms part of the Jamaica Park community, has two bedrooms, one bathroom, an open-plan kitchen and has been refurbished recently. The garden is open-plan as well and leads to the communal swimming pool. A great location with a hint of a sea-view too. More photos here , or check it out here: http://www.ultimatehomes-spain.com/ Only 120.000 Euros!!!

Whilst we might be living here in Spain, a small touch of the black stuff doesn't do any harm, especially today, March 17th which is of course St Patrick's Day. Our favourite watering hole is The Bodhrán Irish Pub (pronounced Bow-Rawn) located just off the Levante Beach in central Benidorm. Live music and a great craic guaranteed.