EASTER NEWS FROM CHERSUN
It is good to be back at work after the Easter celebrations, it is a big occasion here in Spain where the locals celebrate in style with wine and food top of the agenda along with colourful processions throught out the towns and cities.
With our Easter update we have more information about the new Murcia International Airport, EPCs and what they are, reasons to buy in Spain and why cash is king.
CORVERA INTERNATIONAL AIRPORT UPDATE
The Spokesman for the Regional Government of Murcia announced how the owners of Corvera Airport are already renegotiating the terms of operation with the concession holder of the airport, Aeromur.
Jose Ballesta, who is also the Regional Minister for Research and Universities, was speaking in response to an article published earlier in the day by La Verdad, which alleged that the region was looking into the possibility of releasing Aeromur from their contract, before the Airport had even opened.
The Minister maintained that that there still is a legal contract in place between both parties, but that they are not currently meeting because the opening of the Airport is overdue, and that they have nothing specific to discuss.
Ballesta also confirmed that the regional government is still in process of holding negotiations with the Spanish Airports Authority - AENA - to bring forward the transfer of operations between San Javier Airport and Corvera Airport as soon as the latter is operational.
This comes despite recent suggestions that Murcia's San Javier Airport may actually never close .
Also the regional spokesman for the UPYD opposition party, Rafael Sanchez, asked Parliament a question of breathtaking simplicity : "Why has the Government invested over €200 Mln at Corvera, when AENA have recently invested in €65 Mln in Improvements at an Airport less than 35km away - and will then have to pay compensation of around €75 Mln for the closure of San Javier Aiport".
As the conference closed, Ballesta conceded that Corvera Airport "has lost this Summer season".
It looks likely that the opening of the airport will be delayed yet again which does not help the businesses in Murcia who are looking for more visitors and tourists to the area to increase their sales.
For up to date information go to http://www.airm.es/en/index.php
IF YOU HAVE A PROPERTY FOR SALE OR RENT IN SPAIN YOU WILL SOON NEED AN ENERGY PERFORMANCE CERTIFICATE.
The Ministry of Industry is finalising a set of regulations that will make it obligatory for all homes that are sold or rented in Spain to have an "energy efficiency certificate". This is a document that describes how efficient your home's energy consumption is and will cost around 250 euros for the average home. The measure is a European initiative, and is expected to come into force on the 1st of June, 2013.
The European directive aims to increase energy efficiency in buildings and homes in order to protect the environment, and makes it compulsory for all new and existing homes which come onto the market, whether for sale or for rent, to have this certificate.
The promotion of energy efficiency in buildings and homes has formed part of European priorities since 2002, when Directive 2002/91/EC of the European Parliament and of the Council was approved. This directive was implemented in Spain in 2007 through Royal Decree 4 7/2007, although at that time it was only applicable to developers. The surprise is that it now has to be complied with by private individuals, and it is likely to stir up strong feelings, judging by what has
happened in other European countries where it has already been implemented.
The 2002 Directive and the 2010 amendment of the Directive made it obligatory to promote energy efficiency in existing buildings and homes. Consequently, all homes that come onto the market in any country in the European Union, whether for sale or for rent, have to have this energy efficiency
certificate, which is valid for a maximum of 10 years.
What does this mean?
Once the new regulations have come into force in Spain all homeowners who want to sell or lease their property must make this "energy certificate" available to the prospective buyer and/or tenant.
The owner of the home, building, or business premises will be responsible for obtaining and paying for the certificate, which they will need in order to sell or lease their home. In addition to the certificate, each home will also receive a series of recommendations to improve the energy performance of the home and enable it to go up at least one level in the energy efficiency scale.
The drawback to these new regulations is the additional expense for homeowners,with certificates starting from 250 euros plus vat.
For more information about Energy Performance Certificates or if you wish to book one go to www.epc-spain.com
THE TEN REASONS TO BUY IN SPAIN
1. Everyone still wants to visit Spain. Between January and October 2012 52 million tourists went there - a 3 per cent rise on the same period in 2011.
2. Plenty of people still want to buy there. Brits are leading the way (30 per cent), according to the Ministry of Public Works, but Russian, Scandinavian and Benelux buyers are also major purchasers according to Knight Frank.
3. Proposals by the Spanish government to offer residency rights to non-EU buyers who spend more than 160,000 euros will be positive for the market if it goes through in 2013.
4. It's also easier to get there. New flights include new British Airways routes to Alicante,
5. There are many reasons why it's nice to live there: superb climate, great beaches, affordable dining out, the best football in Europe.
6. You can now reach Barcelona and that fine football by a new fast train from London. The new link-up will reduce the journey time by 1.25 hours and make the Costa Brava easier to reach too.
7. Properties are cheaper than they have been since 2002. You can get an apartment for under 50,000 euros and a villa with change from 100,000.
8. You can get a bargain ski property. Spanish ski property is down by 50 per cent. Tapas on the piste? What could be better.
9. The overseas market is growing. There have been five straight quarters of growth, in contrast with the domestic market which is stalling.
10. The Exchange Rate is better for UK buyers compared to 12 months ago.
FOR MORE INFORMATION ABOUT BUYING IN SPAIN GO TO www.chersun.com
CASH IS KING WHEN IT COMES TO BUYING A PROPERTY
According to data emerging from the XVI Housing Market Report prepared by Tecnocasa, during the first quarter of 2013, 55% of those buying homes paid cash for the transaction - a period in which more than half of all properties sold were priced at less than 100,000 euros, with the exception of Barcelona and Madrid where the price rose to around 150,000 euros.
This study details the fact that these cash transactions are "significant" and responds to the difficulties in obtaining a home loan and also to the lowering of the price of housing. According to the study, "in many cases" this is resulting in purchases where the price of the property matches the amount available to the buyer. In fact, the firm notes that home prices have fallen 2.8% in the first quarter of 2013 compared to the fourth quarter of 2012.
In this regard, Professor of Economics at the University Pompeu Fabra of Barcelona, José García-Montalvo, explained at a press conference that "a few years ago, even with savings, it was better to ask for a mortgage because it was more cost effective than paying with cash, which is not the case now."
Furthermore, according to El Mundo, the report reveals that the most common age for the acquisition of a property in the first quarter of this year was between 22 and 44 years (57%). The report also highlights the fact that one in five buyers, during the first three months of this year, were investors taking advantage of the drop in house prices to "acquire a property for rental purposes".
According to Tecnocasa, the price of used homes fell 19.4% in the second half of 2012, year-on-year, bringing the cumulative decline since the maximum peak prices to over 54.2%. Meanwhile, the average mortgage in the second half of 2012 stood at 99,346 euros, a decrease of 14.6% compared to the second half of 2011, and a cumulative decline of 47% from the peak prices.
Finally, the report highlights that in the second half of 2012, the loan-to-value ratio was 69%, 80% of mortgages were granted to people with permanent employment contracts, and the number of loans granted with a maturity of 30 years grew, leaving behind the 40 year mortgages which were being granted a few years ago.
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THIS MONTHS BEST VILLA BUYS
Our portfolio of luxury, stylish villas offer you a selection of Costa Calidas finest living spaces to enjoy in absolute privacy and comfort.
La Manga Club Villa 3.7 Million Euros
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La Manga Club Villa 5 Bed 2.9 Million Euros
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Peraleja Golf Frontline Villa 799000 Euros
El Valle Frontline Villa 729950 Euros
Thanks again for reading this months newsletter and if you are interested in purchasing a property in the Murcia region do not hesitate to contact us with your property criteria and budget and we will forward you a shortlist of recommendations.
Alternatively if you would like to sell your property in Murcia or require a valuation contact us at email@example.com We have the cheapest commission rates and do not charge a minimum commission unlike some Agents .
Once again we are here to provide you with as much information that you require about either buying or selling property so give us a call now on 0034 610914850 or go to www.chersun.com