They think it’s all over…

by Spain

There has been much negative press about the Spanish property market in recent times, with talk of land-grab and the boom-time being over however, a new report from the Spanish Ministry of Industry, Commerce and Tourism’s Institute of Tourism Statistics (Instituto de Estudios Turísticos del Ministerio de Industria, Comercio, y Turismo) suggests that it’s not all doom and gloom, especially in the province of Murcia.

 
In the first 4 months of 2008 (January to April) total spend by international tourists in Murcia increased by 16% when compared to 2007, taking spending to a total of €166 million. Whencomparedto a nationalincreaseofjust 6.2% overthesameperiod, thisisclearlysignificant.   
 
This increased tourist spend in Murcia supports the growth in passengers numbers witnessed by San Javier Airport which saw 2,002,949 passengers pass through the provincial airport in 2007, an increase of almost 22% on 2006 figures of 1,646,129 passengers.
 
Mike Hamilton, Director of Murcia based developer, Casas de Lorca, comments, “I have lived in Murcia for over 6 years and over that time I have seen a steady growth in tourist numbers and spending in the province. Much of the negative publicity about Spain has been generated by issues in areas to the south (Costa del Sol) and to the north (Valencia) of Murcia and has subsequently affected these markets however Murcia remains popular with British holiday makers and buyers.”
 
For more information on buying property in Murcia, contact Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.

Getting More for Your Money in Spain

by Charlotte Ashton Spain

There’s some good news for lovers of Spain from the Spanish property portal Kyero.com; the average price of a house in Spain this April is 3.6% lower than it was just a year ago – so you can get a bigger piece of Spanish real estate for your Euros in 2008!  But before you get too excited, the bad news is that your Euros may now cost you 16% more to buy than they would have if you’d bought them a year ago…

This is because the Pound is currently worth significantly less against the Euro than it did 12 months ago, so the house price depreciation benefit that Kyero.com has highlighted is eroded by the strong Euro/weak Pound situation.  This particular currency situation has arisen because global confidence in the Pound has been dented temporarily; this is thanks to worries about the knock-on effects in the UK of the sub-prime mortgage crisis in America and the near-collapse of Northern Rock last year.
 
Unfortunately, all of this currency negativity has been putting Brits off buying Spanish property when in actual fact, now is probably a perfect time to buy a home in Spain.  The IMF predicts that the British economy will grow more quickly than the Eurozone economy over the next two years; you can negotiate some spectacular deals with Spanish property developers; and you can certainly protect yourself from negative currency fluctuations if you know where to look for foreign currency exchange advice.
 
According to the foreign currency exchange specialists at Moneycorp, British buyers should not be put off looking for property to buy in Spain just because of the strong Euro/weak Pound situation. 
What’s more, Moneycorp don’t believe that buyers who have already bought a Spanish home should panic either.  Those who have bought a property under construction and who are making stage payments, for example, can still buy their Euros now, because it is possible for them to take a neutral stance on future exchange rate movements.  They can buy half of their required Euros today and half at a future date, when the outlook for the rate of exchange becomes clearer.  Those who have invested significant funds in a completed home in Spain  already can withdraw equity and benefit from cheaper Euro mortgage deals; they can also enjoy greater benefits from the Euros they release by converting them into Pounds!
 
Moneycorp can also offer more financial security to those who are interested in buying a property in Spain and who have yet to negotiate a deal.  They can actually pay a percentage deposit now while fixing an exchange rate for the balance of the funds required, for settlement at a later date.  No other money need be paid until that settlement date arrives; this approach to currency exchange is known as a “forward” transaction and it is exactly the strategy that larger investors are adopting right now as they seek to cash in on the weaker housing market in Spain while knowing exactly how much Sterling they will have to pay.
 
According to Mike Hamilton, Sales Director of Casas de Lorca: “seasoned investors are well aware that in a market environment where there are weakened sales projections, developers will ensure that those coming to the market are given the best deals possible. 
 
“For those with the money to buy in, a slowing property market such as the one in Spain right now represents the absolute best time to buy.  Not only are the smaller and the less scrupulous developers squeezed out of the market, but the larger developers who know what they have to do to generate sustained interest in their projects go all out to accommodate the buyer. 
 
“It’s a buyer’s market in Spain, and the buyers who negotiate the best property and currency deals will reap the strongest possible dividends in the future.”
 
So, you can get more for your money in Spain if you speak to a currency exchange specialist like Moneycorp, as they will show you how and when best to trade your Pounds for Euros. Then, because it’s a buyer’s market, you can get more for your money if you approach the larger, more robust and reputable developers. 
 
A highly detailed report in the Irish Independent recently backed up this theory, stating that in a weaker property market, every buyer heads for quality… This holds true just as much in Spain as it does in Ireland.
 
Let´s take a look at a developer, such as Casas de Lorca, as an example. This company is building some of the highest quality, most attractive properties in Spain’s Murcia region.  They give their buyers the best guarantees in the business, they offer homes on five acre plots of land and they build to five star standards, guaranteeing not just the title deeds and the build quality of their homes, but the fixtures and fittings as well!
 
If you buy through Casas de Lorca you are buying off-plan and you can make the most of their flexible payment plans and wait for the Pound to bounce back against the Euro.  You can also get real value in terms of what you purchase; for example, you get five acres of land with their luxurious five star villas. 
 
Casas de Lorca clients are also given the option of purchasing now but spreading their payments over a period of up to two years, giving them even more time to win the currency fluctuation game with expert help from someone like Moneycorp.  Or buyers can use a Euro mortgage to fund their build, so that they can benefit from future exchange rate movements in their favour.
 
The Casas de Lorca projects mentioned are near the town of Lorca in the Murcia province of Spain.  The company offers buyers the chance to own a stunning, custom-tailored villa with classic architectural features, such as rows of arches, courtyards, or walls of glass.  The villas are each located on five acres of land and these stunning properties are for sale from just GBP 196,900 / EUR 265,000, which buys you a four bedroom villa.  This offer really does give buyers the chance to own their very own home on a rolling five acre estate, rather than a generic apartment on a housing estate in an urbanised part of a popular Costa!
 
For more information please contact Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net.

Designing your own villa in Spain

by Charlotte Ashton Spain

 

It has long been the dream of many an aspiring overseas buyer, not only to own and possibly live in a house overseas, but to also be able to design your perfect home as well. This is what Spanish property specialist Casas de Lorca is offering to clients. At a time when the market is flooded with compact apartments and houses indistinguishable from the next, Casas de Lorca is giving buyers the opportunity to own and design their own unique villa in the heart of traditional Spain without the hassle of renovating a tired finca.
 
Mike Hamilton, MD of Casas de Lorca, gives us his top tips to designing your own villa in Spain:
 
There are 3 fundamental considerations, firstly the word that rolls off the tongue of every property buyer ‘location’ as well as ‘design / layout’ and ‘materials’.
 
Location – “Choosing the right plot for your home can vastly affect the feel of the property and also the finished value. A finished villa on a plot with magnificent views can be worth over 50 percent more than a finished villa without views or with poor Access. The wow factor is important and you should design your villa around the natural attributes of the plot you have chosen.”
 
“Privacy is worth a great deal and with 5 acres of land Casas de Lorca specialise in just this. Add this to fantastic views and you have a good start for designing your house. Walls of glass and full length windows in the right places can help take advantage of the views from the inside out.”
 
Design / Layout – “Personal taste forms part of this process, but there are a few fundamentals that affect the desirability of the property. Firstly orientate the house towards the best views. In the UK people usually wish to orientate the house towards the South, but this is not necessary in Spain. It is better to look out of walls of patio doors towards the views and to have the sunrise flooding into the house rather than facing south when the sun is too high to come into the house.”
 
“The layout of the house is extremely important. A good house is split logically between the day time and night time areas, not all mixed up as one. Bedrooms coming off the living room or the kitchen are obvious no no´s. Generally you place bedrooms to one side and day time areas to the other; this is a good starting point. Often bedrooms can be on a separate floor which also splits the night time area from the day.”
 
“When looking at possible house plans imagine yourself walking around the house and try and imagine how it is going to flow. The design and exterior also need to match with the internal layout, which is often the hardest part to achieve. The only way to get this right is to try and imagine the exterior as you are designing the interior. The expert design team at Casas de Lorca can assist with this. Will the house have a courtyard? Why not give the courtyard glass walls? Is there a visual impact as soon as you walk through the front door? How are the roof lines going to work? The use of ornate pillars, arches, rows of patio doors, towers and raised terraces can change a decent house into a wow house, but everything has to remain in the right proportions.”
 
“Architecture has been studied and implemented for thousands of years and looking at classic buildings can often give you ideas to make your house look impressive from the outside as well as having a logical layout on the inside. We have designed houses with glass courtyards, giving the feel of having a garden inside the house, but also as a means to bring in the light and enjoy the views from inside.  We have even designed a house with 15 arches made from Tuscan Stone surrounding a pool which is built into the house! “
 
Materials and decoration – “Having got the location and design right, then the next challenge is the materials. At Casas de Lorca we have built an exhibition centre to help manage this process. There are literally hundreds of different types of tiles and there is a choice for every part of the villa. What type of stone window surrounds, what type of wood for the doors and built-in wardrobes right down to the type of door handle… Even the kitchen is tailor made and there are over 80 materials to choose from.”
 
“Everything from the style of banister to the type of balustrade or style of fireplace is available to choose from to design the interior of the property.”
 
“Too much choice can often make design difficult so one of our design consultants is always at hand to offer advice. In general, simple high quality materials and consistency throughout the house make for a good interior. We advise matching built-in wardrobes with doors and using the same floor tiling throughout the house to maintain a consistency throughout the property. Marble floors create a grand impression, but poor quality marble contains many imperfections so we only source consistent materials. The exhibition centre has proved invaluable as there are so many items to choose from that it would take days if not weeks to drive around all the suppliers. There are choice items which clients would not normally even be aware of so it is very useful to have everything under one roof.”
 
When designing your own property any one of the above three done well will impress your friends. For example if you have a plot with amazing views, this on its own creates a house with an advantage. If you have a classic designed and well proportioned villa, it will still impress if it is not in the most scenic location. You can design an amazing interior with top quality materials even if the house does not look the part from the outside. At Casas de Lorca we specialise in sourcing the best locations, helping in the best villa designs and also the best materials and decoration. We work to achieve all three of the fundamentals so that the villa has amazing views, outstanding design and the finest interior. With all three you will have a property which is a cut above the rest.
For more information contact Mike Hamilton at Casas de Lorca on 0844 734 8057 or visit www.casasdelorca.net