MAY 2014 - THE SUN IS SHINING AND SO IS THE SPANISH PROPERTY MARKET
THE SUN IS SHINING AND SO IS THE SPANISH PROPERTY MARKET AS SAVVY BUYERS HEAD BACK TO SPAIN
Welcome to this months newsletter from Chersun Properties, providing you with the latest property news and views from sunny Spain.
In this months edition we highlight how property sales in Spain are on the increase and we also have tips for buyers and sellers of Spanish property.
We at Chersun earn rave reviews for our customer service and if you are looking to purchase or sell your property in Spain we can help and assist you making it simple and easy for you.
For more information about buying a property and for your FREE GUIDE TO BUYING click - I would like more about buying in Spain
Enjoy this months news.
Paul R Cherry
Mobile 0034 610914850
SPANISH PROPERTY SALES INCREASE BY OVER 22% IN MARCH
The number of home sales rose by 22.8% in March compared with the same month in 2013, to a total of 27,047 transactions, the National Institute of Statistics reported this week.
March's year-on-year increase contrasts with the decline registered in February, when housing sales fell by 27.6%, and ends ten consecutive months of significant year-on-year declines.
Month-on-month (March over February), home sales increased by 5.2%, their biggest increase in this month since 2010.
The year-on-year growth in home sales was due mostly to the increase in the sale of second-hand homes, of 35.5%, reaching a total of 15,716 transactions, while sales of new homes rose by 8.7%, to 11,331 transactions.
Most of the homes sold in the third month of the year, namely 90.1%, were private housing, with an increase in sales of 26.5% year-on-year, to 24,377 transactions, while the number of transactions on protected homes totalled 2,670, representing a decline of 2.9% compared to March 2013.
With the banks now making lending easier this has also made it attractive for buyers to get finance. The maximum lending available is 70% of the purchase price.For more information about how to finance a propertty is Spain contact firstname.lastname@example.org
EURO EXCHANGE RATE NOW MAKING IT EVEN CHEAPER FOR UK BUYERS TO PURCHASE A SPANISH PROPERTY
The Euro exchange rate hit a high this week of 1.22 euros to the pound therefore making it even cheaper for UK buyers of Spanish property and also for all the holidaymakers who visit Spain.
It was not so long ago that the euro exchage rate was 1 euro to 1 pound which obviously did not help the spanish property market as UK buyers held off purchasing until the exchange rate was more favourable.
We always recommend that you use a currency broker when exchanging money whether you are coming over to Spain on holiday or if you are wishing to purchase a property.The rates obtained through a Currency Exhange Broker are more favourable than the banks therefore you will get a bettre exchange rate. Our preferred partner is www.moneycorp.com who can provide you with the best exchange rates on the market.
MORTGAGES IN SPAIN THE ANSWERS
We get asked by prospective buyers of Spanish property what are they mortgage terms for a spanish mortgage. I have below the top 5 questions with answers.
What is the maximum amount that I can borrow -
Generally the banks will lend up to 70% of the purchase price or the valuation which ever is the lower amount.
What is the maximum term and what are the interest rates.-
The maximum term depends upon the lenders criteria but generally it can be to age 70-75 and the interest rates are currently 4.25%-5% .
What information do the banks require from me-
As with UK mortgages the banks in Spain will require similar documentation such as experian credit report, proof of income, copy of passport,
What are the costs of setting up the mortgage.-
The banks generally charge a 1% arrangement fee, there are also additional notary and land registrey fees. As a guidlline if you are taking out a spanish mortgage you should add about 15% to the purchase price to cover all the taxes,legal fees ,mortgage fees etc.
What type of mortgage offers are available and also can I get an interest only mortgage.-
The lenders in Spain do not have the same selection of mortgage offers such as fixed rate, flexible or discounted,they tend to be variable rate mortgages which are linked to the current euribor rate. It should also be noted that all the mortgages are capital and interest repayment and that interest only mortgages are not available.
THE MONTHS NEW PROPERTY SHOWCASE
We always like to inform you first about the latest new developments so that you can reserve the better located properties.
For this months selection of exciting new properties click below.
If the above do not meet your criteria or budget please confirm what is on your wish list along with your budget and I will forward you a shortlist of suitable properties and you can also visit www.chersun.com for the largest selection of properties to meet all budgets.
For more information about our viewing trips contact me now on email@example.com
THANKS TO ALL THE SPONSORS FOR MY BIKE RACE ETAPE CALEDONIA IN AID OF THE MARIE CURIE CANCER CARE CHARITY
It is not every day that you can say that you beat the Olympic Cycling Gold Medalist Chris Boardman but that is what I did when I took part in the www.etapecaledonia.co.uk bike race on sunday in Scotland.
I managed to finish a repsectable 68th out of 5200 and beat the time of Mr Boardman.
More importantly we raised over 1400 euros for the Marie Curie Cancer Care Charity and I would like to thank all the generous sponsors who made this possible .
If you would like to make a donation to this very worthwhile charity please click below.
TOP 5 TIPS WHEN SELLING YOUR PROPERTY
Give the property a good clean- It is obvious that potential buyers would like to see a clean and fresh property when viewing,first impressions count so get out the hoover and duster.
Decluttter- Not only does the property look bigger ,viewers are not interested in seeing all your family albums or sports trophies on display.
Get it fixed- If something needs fixed get it done now, dripping taps or cracked walls will always be spotted by the observant viewer.
Neutral Colours- If it means repainting inside the property get it done, neutral colours never put off potential buyers, bright orange, reds or greens may not appeal to everyone.
Remove the pets- Not everyone loves dogs or cats so it is better to take them out when you have viewings.
Hope the above is helpful if you are selling and good luck.
THANKS FOR TAKING THE TIME TO READ THIS MONTHS NEWSLETTER AND IF YOU REQUIRE MORE INFORMATION OR HAVE ANY QUERIES ABOUT THE SPANISH PROPERTY MARKET DO NOT HESITATE TO CONTACT US AT firstname.lastname@example.org or Tel 0044 131 208 6373