We are starting to get some properties are below market value, below bank value and some owners are starting to hurt because of the situation in Spain. For example, we have one guy, who can do a build of 200m2 in Javea, a good area, with a villa of 200m2 with a pool for around 360.000 euros. Normally in this zone they would go for around 500 or 600k euros, there are some other deals in costa del sol going we have access too, for people with some money etc. The new builds are for cash buyers, the resales is possible to get mortgage finance. Thank you.

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We are getting some very low deposit (5000 euros down) and sometimes none if you have good mortgage details. How about a place for nothing in Spain, and sometimes furnished as well.

thankyou

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The market in Spain is just like UK and for that matter the rest of EU....slow

As usual in this type of market the best located developements by the best builders are always popular and prices are firm

For re sales you act the same as you would now in UK....find what you are looking for and then make an offer
When buying re sales check on the specification as some of the older ones have for example thin walls and poor insulation.No problem if you are prepared to modernise but then take the cost in to account...same as you do in UK
Forced sales when you can find them or bank sales tend to be of the poor variety and those with very small deposit terms may be a good buy but really best left to the dealers! [ most repossesion sales in UK are bought by dealers!!!]

So overall it is a good time to buy and mortgages are still available on good terms ; With a good deposit up to 40 years [ paid off by 80] and up to 15 years interest only

Naturally you should deal with professional agents and in general the smaller ones give the better service but many have bought via the big boys and had no problem

So if 2008 is going to be your year to have a home in Spain start looking now or early in the New Year....a trip over in January will give you a little winter sun and perhaps a new life style

For investors or dealers there are also still some good off plan locations

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Brian Rowlands BSc FRICS
Chartered Surveyor & Overseas Property Agent:-[url]www.bbspanishproperties.co.uk

Brian, I think there are 30 year interest only mortgages now.
There are discounted products as well. People that need to sell quick or want out. It is a buyers market. If you have cash or desire, you can get some good deals. This next period of time is great for buyers. Sellers have to be very realistic with pricing.

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That's good news as late next year I will be looking for interest only mortgages on a couple of off plans I want to keep in Almeria circa 50% loan to cost
One of the problems in Spain is that you can not arrange a mortgage for off plan property at the time you sign the contract like you do in UK [ as far as I aware at present from main banks] so I have to allow for this when buying off plan
Also now you can not flip on good developments [ If any builder does allow it then be careful!]
If I could arrange a guaranteed mortgage in advance at contract stage I would buy more off plan.....I always now make sure that I can complete without finance if I have to.....and I do have a particular property in mind

I think also that if this type of procedure was available to people buying holiday/permanent homes in Spain it would be attractive and perhaps help to get the market moving again in 2008

After all being used to arranging your mortgage in UK when you sign your contract but when it is not definate until completion in Spain just adds another risk factor in to buying.....agents saying it will be no problem or you can have the builders mortgage[ often poor terms!] is often considered a sales tactic!!

I know most of them do get sorted but not all

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Brian Rowlands BSc FRICS
Chartered Surveyor & Overseas Property Agent:-[url]www.bbspanishproperties.co.uk

Here is another just in today -

Near to Maybella, Puerta Banus, Costa Del Sol.

3 bed, 2 bath apartment, valued a few months ago 385k now 250.000, that is 36% below bank valuation.

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I think that the best invest in Spain is in warehouses,local business etc...
The businessman are closing their business because the sells are falling and they are selling their premises with very low price.I have some for sell in Almería and Murcia.Also Off plan very cheap.
If someone is interested contact me at eurovivienda2005@gmail.com

I would be interested in small farms.

hi,
can anybody tell me what is the minimum investment i can use to purchase a proprty in spain,and the best mortgage supplier is? thank you.

Anything decent and good modern spec then really now from 99.900 € for a 2 bed apartment Polaris World have some nice Golf Suites at 89.000 €
Anything much cheaper may not be in a good location or good spec
Deposit on good developments circa 30% but some can be 40%
Top Spanish Banks are all good and terms up to 40 years [ paid off by 80] and up to 15 years interest only are available but for one such as this you probably need circa 40% deposit
Hope this helps, sorry but do not get involved in the cheap ones and if anyone offers you 100% mortgages then check the permits , price ..etc
Anymore info or samples get in touch

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Brian Rowlands BSc FRICS
Chartered Surveyor & Overseas Property Agent:-[url]www.bbspanishproperties.co.uk