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With all the talk of heavily reduced property in the Costa Del Sol and vendors having to take rock bottom offers in order to sell their property, there is some consolation for those who purchased a holiday home when Sterling was at its high point against the Euro. Consider this - many UK purshasers bought a Spanish property when the rates were around €1.50 to the Pound, this means that they obviously have their property asset in Spain fixed Euro denomination. Even if they drop their asking ... Read Full Post

Unemployment figures throughout Europe and the US are reaching alarming levels, even though some recent figures suggest an improvement there is still a long way to go. The cycle of high unemployment numbers leading to a downward trend in the housing market is nothing new, or complicated to comprehend - job losses lead to none payment of mortgage, the banks then go after the property, then the property is sold at auction for what the banks can get for it, leading to a downward trend in prices.... Read Full Post

The Economic Times reported an alarming increase in both individuals and businesses going bankrupt for the first six months of this year. 3,285 bankruptcies have taken place, that is more than 3 times that of the same period last year. The National Statistics Institute that business made up 515 of the total figure. Firms and the self-employed accounted for all but 515 of the filings, the National Statistics Institute (INE) said Wednesday.The construction and housing industries are worst hit a... Read Full Post

The Spanish newspaper El Pais has given indication that in some parts of Spain, in some areas, privately owned housing is less expensive than its socially owned alternative. This seems to be the case in the Barcelona area in the north of Spain, known as the Catalonia region. The fall in property prices has led to a dis-parity of up to 30% in some areas, making subsidised housing a less than attractive option for potential residents. The Environment and Housing Department has said it will now ... Read Full Post

Within the last 12 months, prices within the Spanish market fell by 9.2% according to a report published by TINSA. (One of the biggest property valuers in Spain). The figures demonstrate an improvement on the numbers produced for the last four months, where a recorded drop of 10% per month had been recorded. This is an indication that prices are bottoming in certain areas. The largest drops happened within the coastal real estate markets, with some areas falling by 10.9% although this is slow... Read Full Post

The banks in Spain have been doing their upmost to limit damages caused by the massive boom and bust in the property sector. To shield some of their worst decisions they have been buying back some of the properties that subsequently have had bad payers. The banks have had some help and guidance from, unbelieveably, Spain´s central bank, who is usually pretty conservative in their approach. There is some degree of logic behind this process. Previously banks had to account for the total value ... Read Full Post

There has been some time since we have added further Calabria property to our portfolio, so I am pretty excited at being given the oportunity to promote the last 5 units in Amusa Mare in Caulonia. This development is almost completed and gives access to the charming town of Caulonia. The natural rustic beauty of this place needs to be seen to be believed, really quaint cobbled walkways with old style architecture. Colourful flowers adorn the window boxes of the old properties and townhouses t... Read Full Post

La Zagaleta and its property has been the subject of several of my previous REW blog posts, but I thought I would delve a little deeper into why this country club has become a reserve of the super rich. The development covers over 900 hectares of green Andalucian, rugged countryside. Established in 1991 when it was obtained after Adnan Khashoggi relinquished control of his private estate, the development perches 450 metres above sea level giving you views of Africa and the rock of Gibraltar i... Read Full Post

The property fund run by millionaire property mogul Nick Leslau has made its first purchase since the funds float in May this year. A portfolio of warehouses has been bought for $415m through receivers Ernst & Young LLP with a total space 7.6 million square feet (706,000 square meters). This portfolio has lost 50% of its value in the last two years, therefore representing great value over the long term. Mr. Leslau is excited about this deal, but also commented that finding quality reduced... Read Full Post

Puerto Banus is a well known destination all over Europe, primarily because of its flashy marina and openly wealthy clientele. With huge boats moored in the harbour and Lambourghini´s doing the circuit, ensuring holiday makers watch in awe at some of the wealthiest individuals in world. Over the last few years there has been a big price correction in the area and a case in point is being able to purchase an apartment in Dame De Noche, a development close to the marina for €165,000. The apa... Read Full Post