Latest News
Cote D’Azur Property Prices creeping up
Published by Editor - 23rd Feb 2010
At Overseas Property Centres we operate on a 1 Month cycle for updating property by region, which includes maintenance of the price and availability. It is common practice with new build property
for the developer to flex pricing according to demand and in recent times these have tended to stay static or even discounted.
In past couple of months we have noted that prices have risen by up to as much as 5% on some developments and certainly talk of discounts has all but disappeared.
The market for property in the Cote D’Azur has always been slightly seasonal when it comes to interest from overseas buyers who not surprisingly start stirring as the winter bites and we have seen an
increase in enquiries but not what you call significant. According to our people on the ground in the Cote D’Azur the rises would seem to drive by increases in domestic demand as France pushes out of
recession and French Banks showing a distinct interest in lending again.
According to our Nice and Cannes representative “It’s all down to confidence and the French are suddenly more confident” and that I thin sums a lot of property markets. Investors use to work by the
maxim Location, Location, Location, perhaps we are seeing the birth of a new maxim Confidence, Confidence, Confidence.
Has Spains Property Slump reached the bottom?
Published by Editor, 13th Feb 2010
Figures from Spain’s statistical office show that 2009 was one the worst years on record for the Spanish property market.
Property transactions Year-on-year fell 27% to 372,000 according to the National Institute of Statistics (INE). Compared to 2007 the year that marked the end of the boom property transactions
were down 48%.
A closer look shows that in 2009 the sales of re-sale property fell at a slower rate than that of new build and off plan property.
This might just be the time to take a look at some bargain properties, but I think it at the same time it may be worth keeping an eye on the Euro which if you are buying from outside the Euro zone
could fall against GBP and USD and this could lead to a surge in off shore buyers and start of transactions and prices moving upward.
Spain is still an attractive place to live and perhaps retire to, despite the rocky ride the Spanish Economy has had the Costas still enjoy a great climate and good infrastructure. We will be keeping
an eye on Spain.
Holiday Homes from Hell
Comment
It seems that just when you thought you'd heard the last Holiday Home from Hell Story in Spain another one comes along. I've just taken a call seeing if we could help from an unfortunate couple who paid a small fortune for a Villa in the Costa Del Sol which will never be granted a habitation licence.
It's the all to familiar story of a property being bought off plan from a small builder. The builder has gone bust leaving behind a trail of corruption and debts.
I wonder if the the off paln market for property in Spain is dead now? I don't think I could bring myself to buy an off market property in Spain, whic I guess says it all!
Chris Richards - 15th Feb 2010
What do you think?
Comments
Home >> Articles >> Latest News
Print
Recommend this page 