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Presenter ‘is looking for a holiday home in Spain’
Jeff Stelling, the new presenter of Countdown, has said he is looking to invest in Spanish property. The television star, who takes over from Des O’Connor in the Channel 4 quiz show, said that he is considering a property purchase the Mediterranean country. He told A Place in the Sun that the south of Spain…
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Distressed Properties in Spain Recommended
Distressed properties in Spain offer investors a very good and sound deal, an expert has argued.
Spokesperson for the Spanish Property Owners Guild Paul Bradley said: “Distressed used properties are the safest route for investors.”
He added that those seeking property should “pick a good location, location, location near airports, avoid inland property off the beaten track and never, ever buy without a lawyer”.
Mr Bradley identified areas such as Torrevieja on the Costa Blanca – as well as the Costa del Sol locations of Marbella and Nerja – as the best locations in which to pick up such homes.
These offer golf and year-round sun, making “good rental income … achievable all year round”, he noted.
Figures from Spanish property statistics provider Tinsa showed that the country’s Mediterranean coastal areas suffered an above average drop in prices over the year to July 2009 at 10.9 per cent.
The lowest fall was eight per cent in the Balearic and Canary Islands.
Spanish property ‘offering many foreclosed bargains’
Property in Spain is offering a wide range of foreclosed bargains in a way that can be compared to the US, it has been stated.
In a feature on the subject, the Wall Street Journal noted that tours are now being held of distressed property for sale to private investors, an idea that originated in the US.
This is one of a range of innovative ways sellers are looking to offload homes, which means there are many bargains to be had.
Organiser of one regular tour Africa Leon – who works for investment agency Circulo Financiero Internacional – advised: “The developers and banks are willing to sell at a huge discount, so just look it over and make an offer.”
Earlier this month, official figures from the Spanish Housing Ministry showed that the average house price in the country was 8.3 per cent lower than a year before in the second quarter of 2009.
This compared with 6.8 per cent at the end of the first quarter.
