The Ultimate Homes Blog

With so much movement in the currency market of late we have invited Keith Spitalnick of HIFX to provide us with a (mid-week) weekly market commentary so without further ado, their commentary: GBP/EUR Range of the week - 1.2708 - 1.2878 Variance on £10k - €170 Sterling /Euro reached 1.2878 on Monday, a rate of exchange not traded since October 2008 – clearly a great time to be buying Euros!! In Europe this week we continued to see more of the same, looming bankruptcy for Spanish Provinces, dangerously high borrowing costs, and fears of further contagion. A number of the larger Spanish provinces have now made it clear that they will need emergency funding from the Spanish Government as their income has plummeted, and unemployment costs have soared. A clear indicator that the overall health of the Spanish economy – right down to grassroots level – is weak. This issue is now becoming more common across southern Europe, and the rate the markets are charging ...

Via our collaboration with banks, we are able to offer some great opportunities to own property at a fraction of the price that they previously commanded. Last week we (Steve and I) visited this property which is located in one of the most desirable residential areas of Benidorm, close to the theme parks of Mundomar and Aqualandia. Take a look at the photos and if you are seriously interested we can arrange viewings at short notice so contact us  now  or telephone +34 966 112 773. Oh and the price: 170.700 This is a three bedroom semi-detached property in an established development featuring 21 properties in total and with access to a communal swimming pool. The area and street is one of the nicest residential streets in Benidorm where similar properties were changing hand for in excess of 500.000 Euros a few years ago, it is  relatively flat and within easy walking distance of local amenities. In fact the beach is only one kilometer so very convenient ...

The Rajoy government yesterday announced an increase in IVA (VAT) so here is a look at what is means to us all (courtesy of the Typically Spanish website):- The 4% rate – to be kept at 4% This is applied to items considered to be of basic need. It includes basic bread, frozen dough, eggs, cheese, milk, beans and fruit and vegetables. Books, magazines and newspapers. School material with the exception of electronic items. Medicines for human use. Vehicles for the disabled, wheel chairs and collective transport for the disabled. Prosthesis and implants. Official protection housing. The 8% rate – to increase to 10% Foodstuffs in general, with the exception of those in the 4% band, soft drinks. Animals destined for human consumption or breeding. Items used in agricultural, farming and forestry activities, such as seeds and fertilisers. Contact lenses and glasses.   Disabled lifts and items for the diagnosis of illnesses. Health assistance services, social services, and dental work. I...

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...