The Ultimate Homes Blog

Figures from the Bank of Spain and Taylor Wimpey Espana provide proof, if any was needed, that international property markets behave differently to their domestic counterparts. According to the Bank of Spain, foreigners invested 4.748 million euros in Spanish property in 2011, up 27% on 2010. It was the second consecutive annual rise and the highest yearly rise since the boom. According to the banks figures foreign investment was above 2006 levels which stood at 4.716 million euros. The announcement corresponds with figures published by Taylor Wimpey Espana which show their sales figures are up 21% in Q1 compared to the same period last year. The Bank of Spain’s numbers do not show the break down of private and institutional property purchases. It is likely that the 2011 figures reflect higher volume purchases by funds and institutional investors. Private overseas property purchase in Spain is unlikely to match 2006 levels. However, anecdotal evidence from Taylor Wimpey Espana an...

Without wishing to enter into the political arena, the first 100 days of the new Government in Spain has seen an approximate decline in house prices of 1.56%. Also we have seen changes in the labour laws, a general strike, ups and downs in the Ibex, and the Euribor rate at lower levels.....but the banks still have the mortgage taps tightly closed. And until we see the banks losen their grip, we will remain stuck. Let's see what the next 100 days hold for us. What do you think?

The architecture studio A-cero, directed by Joaquín Torres, presents the execution process for the new A-cero Tech property located in Finestrat, Alicante , Spain. The plot has an orientation Northeast-South and it’s practically plain. With a rectangular shape, it occupies a total surface of 672′95 m2, being 106′87 m2 dedicated to the property. It also has an external terrace of 18 m2 and a porch of access wth 2′31 m2. LOCATION The access is made through a public pavement that allows the traffic of vehicles and pedestrians. DEVELOPMENT SECTIONS The whole property is developed over slope. It’s a single family modular house on the ground floor with a program designed asking to the owners’ requirements. ELEVATION LOW FLOOR In the low floor there’s a common distribution with  living-dining room-kitchen, laundry, one bedroom, bathroom and also the main bedroom with ensuite bathroom. Outside a terrace and a pool are projected. COVER FLOOR The property...

Banco Santander has decided to sell it's entire real estate portfolio, even though this is likely to provoke a huge loss. Tha banking entity, which is chaired by Emilio Botin, is looking to sell the nearly 29,000 properties available in it's portfolio with the intention to close these operations by the end of the year at any price, even if it involves him writedowns. To dispose of these assets, the bank intends to hold a competition to award the sales mandate to a specialized entity, such as Aguirre Newman, Richard Ellis, Knight Frank and the like, with which it is already holding meetings In addition to the properties seized and taken by the bank from (the most part) developers, Santander also wants to dispose of property held within the range of Banif investment funds, which are valued somewhere in the region of 2,500 million euros. In short, this means that there will continue to be real pressure on Spanish property prices over the next few months as properties flood o...

Spanish property is enjoying a new wave of overseas investors, most likely due to the substantial discounts on offer. Foreign investment in property in Spain surged by 32.8% in the first half of 2011 over the same period in 2010, to 2,445 million euros, according to the Bank of Spain. Moreover, these investments exceeded 1,000 million euros for a second consecutive quarter between April and June, something not seen since 2008, before the property bubble burst. In this second quarter, the increase over the first quarter’s transactions was 16.1%. El Mundo reported that foreign investment in property in Spain has fallen steadily since 2003, when it peaked at 7,072 million euros, down to 6,650 million euros in 2004, 5,495 million euros in 2005 and 4,716 million euros in 2006. However, this downward trend stopped in 2007, with 5,341 million euros from foreign property investors over the year, 13.3% more than in 2006. Spain gained 5,331 million euros in foreign direct investment unti...

Jardines de Altea Hills When looking for a property in Spain , it is natural to want to see as many properties as possible before making the "right" choice and common sense dictates that a handful of alternatives should be viewed before buying. Our job as professional estate agents is to help buyers make decisions that are genuinely in their best interests, which, without our assistance, they might have had difficulty making. So here are some pointers for those buyers who might be struggling to balance the merits of Casa A with its new kitchen against Casa B, with the better garden. First, there is a place for instinct and sometimes the heart should be allowed to influence, if not rule, the head. This is a home after all and not a stock-market share. Ask yourself the obvious question, "Could we be happy here?" However, sometimes you need your head to agree with your heart. Is your favoured property a significant improvement on where you already l...

Hello again and wow, long time no blog! Six weeks to be precise but then again it has been Summer here in Spain, far too hot for work, I mean blogging. Of course being Summer, Spain does slow down and well, I'm not going to send out a blog every Friday just for the sake of it. So what does September and the rest of the year bring. Well there was a pleasant surprise when the Government woke us all from our 35º Centigrade siesta to inform us that IVA on new-build property completing before the year end would be halved by 50% from 8% to 4% . No doubt a shot in the arm for the construction industry with properties to sell, but it would have been nice if the tax reduction be passed onto private sellers too, but not to be (at the moment anyway). It remains to be seen whether this latest measure really does  help reduce the stock of new homes for sale, as well as giving the construction sector a boost and stimulating employment. As recently as July last year, the Government increase...