Spain posts housing sales increase as 'investor confidence returns'

More positive news about the housing market in Spain. I would say, spain is a big country. This doesn´t say much about the situation on the costa del sol or Torremolinos. I will try to find some recent figures about the current real estate market in Torremolinos. But have a look at the next article.

Spanish property market has posted its first rise in house sales for three years, it has been announced.

Figures revealed by the Ministry of Housing show that sales in the country were up by 4.1 per cent year-on-year during the fourth quarter of 2009 and could represent a return in interest to the economically-troubled destination.

Speaking to Overseas Property Professional, many developers and agents reported that they had experienced a rise in the number of sales and enquiries they had dealt with surrounding the popular European destination.

Alfredo Milla, director of international investments at Mediterranean, told the property website that there was a feeling that the economic climate was improving.

"We believe that the confidence is returning to the international buyers as they can see the great offers that are now available in Spain.

"With a lot of European countries predicted to leave the recession this year there is not so much financial fear."

Meanwhile, the National Association of Estate Agents International has recommended that buyers invest early in the country to take advantage of bargain properties.

Current exchange rate GBP and falling prices attracting investors to Spain

Property searches are up for Spain as investors look to capitalise on falling prices and favourable exchange rates, it has been claimed.

According to British newspaper the Financial Times, many agents have said that price falls in Spain are drawing investors back to the country.
I found the next article on the net. If i look around at the property market in Torremolinos, then I really doubt the next article. I would say be carefull to invest in the current real estate market.

Furthermore, thanks to a strengthening GBP, Spain has become eight per cent cheaper for Brits in the last 12 months.

The number of people searching for properties in Spain in particular rose by 48 per cent in the same period, while they were up 341 per cent since December 2008.

Ann Wright, of property website primelocation.com, told the paper: "Interest in overseas property has shot up in recent months.

"The encouraging signs of recovery in the UK property market and economy and the resulting upturn in consumer confidence appear to have had a knock-on effect on the overseas market."

National Association of Estate Agents International recently suggested individuals looking to buy property in Spain should do so in the early part of 2010.

Keep your Torremolinos property warm in winter

Spain in the winter is warmer than England. Especially Torremolinos at the Costa del Sol has a mild climate in winter. The days are generally sunny, although the evenings can be cold. If you have a north or east facing home, you’ll probably need some form of heating between November and March.

South-facing properties are cosy in the winter, but can be unbearably hot in the summer, even with air conditioning. As it’s easier to warm a house up than cool it down, I prefer to heat the place in the winter and enjoy the coolness for the rest of the year.

If your property has air conditioning, this can also be used as a heater. However, it’s not all that efficient in a large room, and it can be expensive to run. And if you have breathing problems or suffer from asthma, air conditioning can exacerbate your difficulties.

You can buy slim, panel radiators which are economical to run, but they are mainly for background heat. Oil filled radiators are more efficient, and again are economical to run, but are rather bulky and unattractive.

Electricity in Spain is much cheaper than in England, but if you have a large property, you could find yourself with a hefty bill in March. It may make more sense, particularly if you are on a pension which has already suffered from the weakness of Sterling against the euro, to look at ‘pay as you heat’ options.


Paraffin heater
Why not try a paraffin heater? If the thought of the rusty, smelly old heaters of your grandparents’ days puts you off, think again. Go to Brico House, or any other hardware chain, and you’ll find a stylish range of heaters from as little as EUR 90. Twenty litres of paraffin will cost between EUR 38 and 45. It burns with little or no smell, and we anticipate 20 litres will last us for a month. Our living room is quite large, and we like to be cosy, so I’m more than happy with that outlay.
Bottled gas heaters
Another option is bottled gas heaters. These are on castors, so can be moved from room to room. Again, there are some attractive models available for around EUR 70, though you’ll have to pay more if you want a heater with variable heat controls.

Calor gas in England is expensive, but cost only around EUR 15 in Spain. A bottle should last at least 4 weeks, so it’s an economical option. Buy your first bottle from a Ferreteria (Ironmongers). You’ll have to pay about EUR 40 deposit on it, and you’ll also need to show your passport or some other form of identity. (No, I don’t know why, so don’t ask!)


Log fire
Many Spanish homes, even new builds, have open fireplaces, so you may fancy having a log fire. Wood burning stoves in Spain are very reasonable, starting from around EUR 600, but I would recommend trying a log basket and open fire first, as a wood burner may make your room too hot. Depending on your taste, you can pay anything from EUR 30 up to EUR 300 or more for an individually made cast iron log basket.

Ask your neighbours where you can buy logs; maybe several of you can club together to share a delivery and save some money? Ballaster’s, on the CV951 between San Miguel de Salinas and Torremendro is self service. Drive onto their weighbridge before and after loading your logs, and pay around EUR 1 per 10 kilos. Check local community website business directories and the classifieds in the English press for your nearest suppliers.

Better still, collect your logs from a forest near you and dry them out ready for burning. In Spain, people tend to dump wooden pallets on waste ground, and you can help yourself, so there’s another source of free firewood.


I hope I’ve given you some options for keeping warm in Spain without having heating bills which make you hot under the collar. Keep cosy!

Real Estate Agents in Torremolinos

If you are considering buying property in Torremolinos, Costa del Sol, Spain then you will be looking for a list of Torremolinos estate agents so you can look at their websites and get an idea of what type of property your money can buy you in Torremolinos.

Torremolinos is one of the best known package holiday resorts in Spain with thousands of holidaymakers flocking here every year for its beaches and wild nightlife.

Estate agents located in Torremolinos will also be able to help you find property in towns, villages, urbanisations and developments close to the Torremolinos area. These include: Playamar, El Pinar, La Colina, Los Alamos, La Cizana, Parador Malaga Golf, Guadalmar, Cerro del Toril, La Carihuela, Solymar, Torre Bermeja, El Pinillo, Arroyo de la Miel and Punta Negra.

Estate agents in Torremolinos operate differently as opposed to countries such as the United Kingdom. In the United Kingdom you have to trawl from one estate agent to the next and each has their own unique properties for sale. This is very time consuming.

Torremolinos estate agents and inmobiliaria have their own unique properties for sale but they can also show you other properties on sale from other Torremolinos estate agents.

If you want to buy a property in Torremolinos - the two estate agents will split the commission so the property you want to buy won't cost you anything more.

Try going to a Torremolinos estate agent that you can feel comfortable with. Explain as specifically as you can what sort of properties and features you are looking for. View some properties and you should find that by the end of the day the agent will have more of an exact idea what to show you next as you give valuable feedback. Now if you started the next day with a different Torremolinos estate agent you would be back at the start of the process again.

If the Torremolinos estate agent shows you unsuitable properties then don't waste your time - go to another agent in Torremolinos and start again. Look for a Torremolinos estate agent that takes time to listen to what you are looking for and who does not just try to push inappropriate properties for sale.

Remember to go on your instincts. Buy what YOU want to buy. Of course you should listen to advice from the Torremolinos estate agent, they know the local area and know the Torremolinos property market inside out but ultimately it is your decision on whether to buy a property. Don't be swayed by an agent who is looking to influence you unduly in order to make the sale.

Estate agents in Torremolinos will view a property and give a guideline at which price to market the property however ultimately the owners decide at which price to sell the property for and some unrealistically overprice their houses.

Estate agents in Torremolinos charge different commissions, expect typically to pay between 3% and 5%. If you are looking to sell your property in Torremolinos then we recommend going for an estate agent with an office in a busy location.

A Torremolinos estate agent with an office demonstrates a degree of credibility and ensures they will have passing traffic. They will naturally also have an Internet presence also.

Many estate agents in Torremolinos will also have houses and apartments for rent in Torremolinos. Do consider a long term let or rental in Torremolinos or rent a villa or apartment in Torremolinos as a way to get to know the area first.

Most Torremolinos estate agents should also be able to help you with these services: finding apartments for sale or rent, villas and houses for sale or rent, townhouses for sale or rent, selling your property, letting your property, information on the local area such as amenities, facilities and schools, new build properties and resales, cheap bargain properties including repossessions and distressed sales, property maintenance, valuations, luxury properties, property finding services and arranging mortgage financing, Some agents will also handle commercial property such as shops to let or lease, bars and restaurants for sale and land for sale.

Renting a house. What to know

If you don´t want to buy your Spanish home in Torremolinos, while living abroad, it´s wise to rent a house first. There are as many houses for rent as for sale. Most real estate agents in Torremolinos try to survive by renting houses. The next article will give you some basic information you really should know before renting your dream house in Torremolinos at the Costa del Sol.

Rules for renting a home

Rental contract

The following provisions shall be contained in the rental contract:

* Details of landlord and tenant

* Description of the property

* The contract term

* Amount of rent and payment terms

* Any other legal provisions that the parties agree

Rental contract may be made before a notary and recorded at the Spanish Property Registry (Registro de la Propiedad).

These are only general guidelines and not definitive statements of the law, all questions about the law's applications to individual cases shall be directed to a lawyer in Spain

The contract time period

Both parties will need to agree to the term for which the property will be rented. You may rent the property for a long or a short term. The distinction is very important as Spanish law provides with less rights to short-term tenants

Short term rental contracts

Short-term rental contracts (contrato de arrendamiento de temporada) require that the tenant vacate the property when the contract ends. This type of contract is normally used for holiday letting.

The short-term condition must be specified in the contract, which duration may run for up to one year.

Long-term rental contracts

You can settle a long-term rental contract, which duration exceeds one year.

If the contract does not exceed five years duration, it will be renewed automatically upon its expiration for periods of one up to a five years term, unless the tenant is not willing to renew it. The landlord is obliged to accept these renewals, except when he had previously stated in the contract that he needs to recover the property for his own use before running the 5-year period.

After the five years' term, the owner may rescind the contract, provided that he had given the tenant 30 days' notice before the end of the contract, otherwise the contract will be automatically renewed for three years, unless the tenant refuse this renewal.

When the contract does not provide its duration, rental contract will run for one year.

The deposit

Upon signature of the rental contract, tenants are required to pay the landlord a deposit (fianza) equal to one month rent payment, in order to guarantee that the property will be returned to the owner in the same state as before the occupation.
This deposit cannot be used to pay the rent to the landlord.

This deposit will be returned as the tenant moves out, assuming that the property is in good conditions.

After five years of rental contract, rental increase will require an increase of the deposit.

The rent

The amount of rent is agreed between both parties. Normally rent is monthly paid seven days before the end of the month. On no account must the landlord ask for more than one month rent to be paid in advance. Payments should be made as stated in the contract.

Tenant shall receive a written receipt justifying that the rent has been paid, unless it is accredited by other means such as proof of payment through bank transfer. Make sure you get these receipts or any proof of payment as these constitute an implicit contract.

During the first five years, rent will be increased or reduced according to the consumer price (inflation) index (Índice de precios al Consumo - IPC). After that period, rent will increase according to what both parties agreed when signing the contract.

About the expenses

Although expenses produced for daily use of the property, such as community fees, or real estate tax (IBI), must be paid by the landlord, tenants may be required to pay them when it had been expressly agreed by both parties in the rental contract.

Tenants must pay gas, electricity and telephone bills, unless otherwise is agreed.

Inventory

Tenants may be required to sign an inventory of the property contents (furnishing, fixtures and fittings…) and the state of them.

It is important to check this carefully, as every item outlined on the list shall be returned when you move out in the same order as listed, otherwise you might lose your deposit.

Repairs in the house

The landlord must make all necessary repairs to keep the property in a fit and habitable condition, however landlord is not responsible for repairing any damage caused by the tenant.

Tenant shall make those small repairs on account of the property daily use.

Urgent maintenance repairs may be undertaken by the tenant in order to avoid serious and immediate damages in the property, these must be made previous notice to the landlord, repair costs will be returned to tenant.

The landlord must give the tenant three-months notice of the landlord's intent to undertake repairs affecting to health, hygiene and comfort in the property. In this case tenant may renounce the rental contract within 1 month from the notice. If the tenant decides to stay, he may get a reduced rental rate in relation to the dwelling rooms that cannot be used because of the repairs.

Do note that the above are only general guidelines and not definitive statements of the law.

Sale of the house rented. The tenant's right of pre-emption

If the landlord wants to sell occupied property during the life of the rental contract, the tenant has the right of pre-emption (derecho de tanteo), which means that he could buy the property in priority to other purchaser.Landlord must first offer the property' sale to tenant , who will have 30 days to reply. If the landlord does not make this offer, or the property is sold at a lower price than the offered one, the tenant could, within one month following completion, have the sale annulled and purchase the property for the price declared in the sales' document.

Pre-emption rights' renunciation agreement will be valid only for rental contracts that exceed five years time period.

No pre-emption right can be applied when the rented house is sold together along with the rest of properties that form part of the same building.

If you buy an occupied property, you acquire the rights and obligations of the vendor, and therefore, not until five-year validity period of the rental contract has been completed, may the rental be terminated.

These are only general guidelines and not definitive statements of the law, all questions about the law's applications to individual cases shall be directed to a lawyer in Spain.

Landlord/tenant's subrogation in favour of third parties

The parties of the rental contract may be substituted for another person, who will acquire all rights and obligations of the old tenant or landlord.

· The landlord may be substituted when he sells the rented property to a third party.

* The tenant may be substituted when he got divorced or died. In such a case his descendants or spouse could stay in the property up to the termination of the rental contract.

Can the tenant let the property to a third party?

Previous notice to landlord, the tenant may sublet a portion of the rented property to another person for the same period he had contracted. Landlord must always give his written consent to tenant.

The rent that the third person shall pay to the original tenant must be lower than that stated in the rental contract.

Taxes

Landlord is liable to pay income tax at a rate of 25 percent, assuming that he is a non-resident whose Spanish property is rented.

You can deduct maintenance expenses from your Spanish income tax.

Having the rental contract rescinded

a) The landlord may rescind the rental contract when the tenant:

* Does not pay the rent or deposit.

* Rent the property to a third party without the landlord's consent.

* Deliberately causes damages to the property.

* Undertake repairs without landlords' consent.

* Causes serious nuisance to the neighbours.

b) The Tenant may rescind the rental contract when the landlord:

* Fails to make the necessary repairs to keep the property in a fit and habitable condition

* Disturb the tenant's dwelling use

Taking action before the Spanish courts

Many problems may arise when renting/letting a property. You may disagree with your rental contract duration, the rent increase, tenant refusing to move out, tenant failing to pay the rent…

Normally, disputes regarding to rental are processed through ordinary civil proceeding (procedimiento civil ordinario).

You should report your complaints to a lawyer who will conduct your formal complaint, going to court when necessary.

21 April 2009

Article by iAbogado Servicios Jurídicos SL (Madrid, Spain). Visit www.SpainLawyer.com for more original content like this.

10 reasons to buy real estate in Torremolinos

In the next article you can read ten personal reasons why I bought my property in Torremolinos on the costa del sol, instead of somewhere else in Spain.

1) Best climate in Spain. Soft winters and summers are less hot then most other coast area´s in Spain. See weatheronline.com
2) Torremolinos is the closest coastal resort to an airport. 10 minutes by train.
3) Torremolinos is only 20 minutes away from the city center of beautiful Malaga.
4) Even in summer it is easy to find a quiet spot on the beach.
5) Torremolinos is very diverse when it comes to property. from small houses to big buildings with penthouses. it´s easy to find the house of your dreams.
6) Torremolinos is way more spanish then for example Benalmadena or Fuengirola. So less drunk English, Germans or......
7) Because Torremolinos is closer to airport, city center of Malaga etc. values of your property is more stable then other resorts at the Costa del Sol.
8) Torremolinos stays lively all year round. Altough it is way more quiet in winter then in summer, you won´t have the feeling you live in a ghost town during the winter period.
9) Torremolinos has all facilities you can imagine in town or close buy. Movies in English, biggest swimming pool on the coast, a lively community center ect.
10)YOU HAVE THE FEELING YOU LIVE IN SPAIN. Not like Benalmadena or Fuengirola, where you live in sunny Great Britain.

THis was my personal top ten. feel free to comment!