Archive for the ‘Reduced Property’ Category

Spanish Developers Push 4% VAT Boost

Tuesday, November 8th, 2011
Villa in Benahavis

This 7 bedroom villa in Benahavis has recently been reduced in price.

Spanish property developers have taken the government’s intended boost to their sector as welcome encouragement to the market. Many are heavily promoting the reduction in VAT – from 8% to just 4% on new properties – which is in place until the end of the year. On a property of 1m euros, this represents a saving of 40,ooo euros – certainly an incentive for what has proven to be a slow year in the new property market.

However, whilst many people dream of owning their new apartment on the Costa del Sol or a frontline golf property on one of Spain’s internationally acclaimed golf courses, it is not always the new properties which can represent the best value, and whilst the reduction in VAT must be considered, there are some very competitively priced resale properties which are being sold below their true value. International financial pressures have led to some owners  – and developers for that matter – to take along hard look at their pricing, and anyone looking to purchase property in Spain would be well advised to seize the moment.

At Livingstone Estates we currently have a number of exceptional properties being offered at prices which are considered to be be well below their true market value. Property investment is still one of the more stable and profitable investments available, especially over the longer term. and with the uncertainty across the world’s stock markets, bricks and mortar once again come to the fore.

 

Posted in Bargain Property Overseas, Costa del Sol, Investment Property in Spain, New Developments in Spain, New Developments on Costa del Sol, Property in Spain, Property on the Costa del Sol, Reduced Property | No Comments »

Spain Halves VAT on New Properties

Monday, September 5th, 2011
New Development on the Costa del Sol

New Developments in Spain benefit from halving of VAT rates

In a recent move designed to give a boost to the Spanish property market, the  government has announced the halving of VAT on new development property from 8% to 4% until the end of the year. Whilst this only applies to new property, it is hoped that the measure will stimulate activity in what has been a slow year for the sector.

The savings can be substantial. On a property of 1m euros, the 4% difference represents 40,000 euros – which would furnish a new property nicely. So which properties are eligible?

Basically, all properties bought directly from the developer, with the purchaser being the first owner of the property. And, of course, those qualifying properties must be bought before the 31st December 2011 – so the window is fairly narrow.

At present new development property on the Costa del Sol is plentiful. There are developments on golf courses and frontline beach developments that have completed units for sale at very competitive prices. Many developers have reduced their prices over the past year and here at Livingstone Estates we have some exceptionally attractive offers on several new build properties. If, alongside these highly competitive prices, we add the further enticement of a 50% reduction in the VAT to be paid, the proposition becomes yet more appealing.

Visit our main website for details of new development property, or ask our sales team for further information.

Posted in Bargain Property Overseas, Costa del Sol, Investment Property in Spain, New Developments in Spain, New Developments on Costa del Sol, Property in Spain, Property on the Costa del Sol, Reduced Property, Spain Economy | 1 Comment »

Upbeat Murmurs for Spanish Property

Thursday, April 29th, 2010

There is a positive rumble within the overseas property industry about Spanish property. Professionals and experts from all areas of the sector are emerging with encouraging results for the first quarter of 2010 and upbeat predictions for the rest of the year.

A number of sources have now quoted the increasing interest, one, in overseas property in general, and two, more specifically for Spanish property. In addition, the Costa del Sol and in particular the coastal resort of Marbella is showing promising growth. Marbella property has recorded 200% growth in property sales during the first quarter of the year.

The Overseas Property Professional (OPP), report increased interest from both lifestyle buyers and property investors alike. A Place in the Sun has also predicted Spain to be the best destination for property investors during 2010.

Overseas mortgage specialists, Conti Financial Services, recently confirmed an increase in mortgage applications by 48% in March on the previous month. The severe winter experienced in the UK has been cited as a contributing factor for the rising interest in overseas property, with many revisiting the idea of purchasing that property in the sun.

Clare Nessling, Operations Director at Conti, said, “The most popular destinations amongst our clients are still France and Spain, both of which come with easy access and good rental opportunities”. She particularly highlights bargain hunters in Spain. “Confidence is definitely growing, but there’s also an element of buyers snapping up bargains in traditional hotspots while they have the chance.”

Source: Kyero.com, Property Showrooms

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Posted in Business Investment Opportunities, Costa del Sol, Investment Property in Spain, Investors in Spain, Marbella, Property in Spain, Property on the Costa del Sol, Reduced Property, Selling Property in Spain, Spain | No Comments »

First Quarter 2010 show 200% Increase in Property Sales in Marbella

Monday, April 19th, 2010

Record property sales have been confirmed by the Marbella tax office for the first 3 months of 2010. 2,499 Marbella properties were sold during January, February and March representing a 200% increase on the same period of 2009 during which 820 properties were sold.

The number of Spanish properties sold this year has even surpassed the same period in the boom years; 2008 saw 1,263 properties sold, 2007 saw 1,602 properties sold and 2006 saw 1,224 properties sold. The Mayor of Marbella, Angeles Muñoz, announced she is confident the town “will be the first out of the crisis”.

The new town plan, which comes into effect this month, also appears to be having a positive impact. Confidence in the market is clearly increasing as the town hall combats the illegal scandals that have plagued the area. The town plan will legalise some 16,000 properties that to date have been frozen from the property market.

Marbella is not the only place to have seen increased activity in the property market. According to the National Institute of Statistics, in February, the Spanish property market as a whole grew by 16% when compared to the same month of the previous year. Of the 35,720 properties sold in February, 21,368 were new build whilst the remaining 19,665 were resales.

Prices have been following their downward spiral since December 2007. Since then prices have decreased by 16% throughout Spain as a whole, by 22.5% on the Mediterranean Coast and by 13.6% in the Canary Islands.

Source: Spanish Property Insight, Property Wire, Property Community

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Posted in Business Investment Opportunities, Costa del Sol, Investment Property in Spain, Investors in Spain, Malaga, Marbella, Property in Spain, Property on the Costa del Sol, Reduced Property, Selling Property in Spain, Spain | No Comments »

The British Return to its Favourite Destination – Spain

Friday, April 16th, 2010

Spain’s costas are once again hot property for Britain’s second home buyers, according to a recent article in The Times. All indicators point to a resurgence of British property buyers on Spain’s coasts.

Prices at their lowest ever level combined with one of the worst winters on record in the UK have led to renewed interest from families looking to escape the grey. And the relatively low sterling-euro exchange rate appears not to be a deterrent.

The report is confirmed by experts in the industry both in the UK and in Spain. Spanish property was the most popular search on Primelocation.com between February 2009 and 2010, accounting for 32% of total overseas property searches. Rightmove overseas recorded an overall rise of 60% in overseas property searches when compared with March last year.

Many Brits are returning to buy property in Spain for lifestyle reasons. It is an additional incentive that prices are now affordable with reduced property at a level where the purchase can also be for investment over the longer term.

And it is no surprise the British are returning. Southern Spain was rated in the Top 10 places to live abroad by Knight Frank Estate Agents. A recent article in the Daily Telegraph explored the best places to live in the world, with Southern Spain featuring high in the list.

According to a recent article by the OPP, Marbella has seen a resurge of foreign lifestyle buyers. “Total property sales in the city have risen to their highest level in four years, research from the tax office shows”.

Source: The Times, Daily Telegraph, OPP

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Posted in Bargain Property Overseas, Costa del Sol, Investment Property in Spain, Investors in Spain, Malaga, Marbella, Property in Spain, Property on the Costa del Sol, Reduced Property, Selling Property in Spain, Spain, Uncategorized | 1 Comment »

How to sell your Property in Spain

Thursday, January 7th, 2010

There are many things to consider when selling a property in Spain. It’s a tough market today and owners need as much help as possible to make their property stand out above the rest. So we have outlined in a new section on the Livingstone Estates website and here, not only what we at Livingstone Estates can do for owners, but also what is required legally when selling property in Spain.

What many owners do not realise is in order to sell a property in Spain it must comply with the Decree 218/05. This Decree was formalised in 2005 following consumer watchdog recommendations. It legally requires certain documentation to be in order and held by the selling agent at the time of placing the property on the market for sale. The documents required are as follows:

•    A copy of the Escritura (Title Deeds), which includes all details pertaining to the owner, the property and legality of the property. This document is very important and can only be obtained by the owner.
•    The Nota Simple less than 3 months in date. We can obtain this document on behalf of owners free of charge, providing we have a copy of the Escritura.
•    A copy of a current IBI receipt (Council Tax) which is paid yearly.
•    A copy of the current Basura receipt (Rubbish Removal) also paid yearly. With authorisation signed by the owner, we can obtain a copy of the IBI and Basura receipt.
•    Details of community fees (where applicable). How much are the fees and if any payments are outstanding.

Apart from these legal requirements, there are additional considerations that may give your property the edge in the market place. As part of the service we offer at Livingstone Estates, we automatically include many of these things to help you.

Professional Photography. The images used to sell your property are extremely important and should not be underestimated. The first impressions and whether a potential buyer decides to view your property or not will be heavily based on the images they first see of a property. For this reason, we include a professional photography service when we take on a property into our portfolio. Our listing professionals are experienced photographers.

Realistic Price. Certainly in today’s market the price of a property is key. It must be set at a level that is realistic in the current market. Our listing professionals will be able to provide you with expert advice to set the price at a level that will be right for the market to sell.

Presentability. How a property is presented is another key consideration not only when viewing the property but also for the photo session. Seeing the property in its best possible light will have an important and significant impact on how a potential buyer visualises the property as their own.

Accessibility. It is important that the property is easily available to view with any potential buyers. Many owners decide to let their property whilst also putting it on the market for sale. However, tenants do have rights and may not allow viewings to be carried out. Additionally, if owners are not in the country, access to view the property must be previously arranged.

Presence on the Market. To give your property the best chance of being found on the market, it must be visible to agents and potential buyers alike. To this end, we provide an extensive network that makes sure your property can be found. We promote property both online and offline and through a network of over 125 agents on the Costa del Sol.

If you would like to contact us to sell your property you can either complete our listing request form here, send us an email to info@livingstone-estates.com or call us on +34 902 424 484 or +34 952 806 417.

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Posted in Costa del Sol, Investment Property in Spain, Investors in Spain, Malaga, Marbella, Property in Spain, Property on the Costa del Sol, Reduced Property, Selling Property in Spain, Spain, Uncategorized | 2 Comments »

Farewell 2009, Welcome 2010!

Tuesday, January 5th, 2010

As the festive season comes to an end and a new year begins, on behalf of everyone at Livingstone Estates, we would like to wish all of you and your loved ones a very prosperous 2010.

2009 has seen turbulent times across the globe, but as we start a new year there is an air of optimism for the coming year. In the last month of 2009 alone we saw some impressive opportunities come onto the Costa del Sol property market, with some of the biggest reductions seen to date. 2010 will certainly be a year in which to buy that bargain property.

The beginning of a new year is always a time for planning the year ahead. Make sure you don’t miss out on some of the great savings to be made buying property on the Costa del Sol.  To see our full portfolio of reduced property in spain click here.

For those investors planning to extend their property portfolio, we have some great business, investment and rental opportunities here.

Whatever your plans may be for 2010, we wish you all the best and are here to help those looking to buy their dream property at a dream price.

For more information about property on the Costa del Sol, contact us by phone on +34 952 806 417 or +34 902 424 484 or email us at info@livingstone-estates.com

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Posted in Bargain Property Overseas, Business Investment Opportunities, Investment Property in Spain, Investors in Spain, Property in Spain, Property on the Costa del Sol, Reduced Property, Rentals on the Costa del Sol, Spain | No Comments »