Spanish Banks set limits on new price drops.

In an interniew en the Spanish newspaper "El Mundo", the President of the Colegio General de los Colegios Oficiales de la Propiedad Inmobiliaria (COAPIS), Santiago Baena, declared that the price of property in Spain will not drop any further, and may even rise in some areas.

The bank in Spain has now become a strong player in the supply side of the market with property that has been repossessed from both developers and members of the public.

"Everthing has its limit" Mr. Baena esplained. "And the prices are about to reach rock bottom."

Reposessed property can not be sold below its mortgage value, a value that was originally a percentage of the sales price. Also developers can not apply further discounts to those already applied. Once they reach a certain point the very banks who finance them will take the property back rather than allow them apply deeper price cuts.

In this fierce debate of value versus price, we at Compass Amazing Resorts have one piece of advice: if you like what you find and you can afford to buy it at the given price, do so. The market is much more active now and people are losing deals because they hold out for even further discount.

"It has become a bit like a Dutch Auction," explains Tim Landseer Brooks, at Compass Headquarters in Regent Street. "Many people are waiting for the price on a particular unit to drop again because they know the property has been on the market for some time, then suddenly it is gone."

In the last two months Compass Amazing Resorts has seen a rise of more than 200% in property sales wehn compared to the same period of 2009.

"This is not a false spring," Says Tim. "This is a positive trend. Something that is good for the market."

If you are interested in Spanish property then please browse our property selection on http://www.propertyinbarcelona.co.uk
Have an Amazing day!

Jump in Spanish Property Sales

While true that it is easy for sales of property to experience positive changes when compared to last year, the jump in sales in February was far above the expected increase.

According to the Spanish National Institute for Statistics (INE)

After an increase, year on year, in January of only 2%, the number of homes sold in Spain in February 2010 compared to the same month last experienced a staggering 18.7% increase! It is thought this increase is a result of both renewed confidence in the market and also a decision by buyers to buy before the July 2010 increase in IVA (Spanish VAT) which will go up by 1%.

Good news then for a market that has been assailed by negativity for some time.

Here at Amazing Resorts we have also noticed a welcome jump in interest and also sales. Our site http://www.amazingpropertyinspain.com/ although only a few weeks old, has experienced a great number of "hits" and we already have clients booking trips to view properties that have been showcased there.

Our advice is to do like the Spanish and buy before July. Now is the time to take the plunge and buy your home abroad.

As usual you can drop us a line on info@amazingpropertyinspain.com

Have an Amazing evening.

Amazing Property in Spain launches new website

 We are pleased to announce that we have launched a new website to focus on the increasing demand for property in the Costa del Sol, with special emphasis on property in Marbella. Amazing Property in Marbella will showcase the very best, hand picked properties along the Costa del Sol. For clients demanding a careful selection of luxury property or the best bargains in quality units along the sunshine coast

A Place in the Sun Live 2010

Once again Compass Amazing Resorts was present at the UK largest overseas property show A Place in the Sun Live 2010!

Hosted by Amanda Lamb, Jasmine Harmon and Jonnie Irwin the trade fair exceeded expectations and saw many many visitors receiving top quality information from exhibitors.

Compass Amazing Resorts had two stands at the show, one to showcase property in Spain and the other to provide information on Turkey, Florida, Cyprus and some bank product from Spanish bank Bancaja.

All properties shown at the show were well received and we are now sending out more specific information to all clients who we have spoken to. Many thanks to all for your questions and interest, remember more information is available on http://www.amazingpropertyinspain.com/ or you can email us on info@amazingpropertyinspain.com

Have an Amazing week!

Bank lending in Spain shows positive increase

According to El Mundo newspaper this morning bank lending in Spain increased by 2.3% in January.

What is interesting is that the average rate of interest achieved for mortgages signed this year has dropped by 28.02% to 4.05%.

Holy Week Tourism

Another important piece of news in Spain and Portugal is that numbers of hotel bookings is much higher than anticipated. Some areas of Spain are reporting 100% occupation in bookings with Costa del Sol at nearly 80%. The Algarve leads Portugal.

This may be because after the wettest first quarter to the year in decades, the sun has finally returned to southern Europe!

Bancaja offers turning into Spanish Sales

We are thrilled to say that we have now started to see the fabulous offers from Bancaja turn our interested respondees into proud home owners!

At the end of the three week period we have seen dozens of clients get their mortgages approved and then move towards completions. A truly amazing deal.

In a press release today we have detailed the offer for all to see. For further information please visit http://www.amazingpropertyinspain.com/

Top 10 Places to Buy in 2010

As you know Amazing Resorts were at A Place in the Sun exhibition last October (and will be exhibiting again at the next A Place in the Sun - the UK’s only dedicated overseas property exhibition returns to Earls Court London on 26th - 28th March 2010).

A Place in the Sun organisers asked visitors at the last exhibition where they were looking to buy overseas. This was then combined with each country’s popularity and A Place in the Sun’s own assessment of what the country offers in relation to accessibility, value for money, lifestyle, infrastructure etc.

A Place in the Sun’s Top 10 Places to Buy in 2010 are……

1. Spain
2. Florida
3. France
4. Portugal
5. Turkey
6. Italy
7. Cyprus
8. Greece
9. Caribbean
10. Bulgaria

And we can offer you property in 2 of these destinations! Watch this space for more details on our stand at the A Place in the Sun Exhibition, Earls Court, London on 26th - 28th March 2010!

See you soon!