Monday, 02 June 2014
There has been a considerable turn around in the Spanish property market in the first 5 months of this year. The figure of 45% increase has been discussed in the press for Spain in general but in our specific area of the Costa de la Luz I would put the rise at nearer 75 – 100% on last year. This is great news but prices are still low and we need the banks to loosen their grip and start giving out some mortgages at reasonable prices. That said, these are the most encouraging signs we have seen for Spain´s recovery in many years. There are also clear signs that the Townhalls have opened their coffers with a considerable number of workmen out repairing roundabouts, painting railings and generally improving the look of Spain.
Sadly, the rental market is still finding things difficult this year. In the first few months of 2014, we have been contacted by the largest number of house owners ever asking if we can assist them in finding clients. The difficulty arises from a glut of rental property and a shortage of clients. Some areas have slashed their rental prices and we are seeing holiday makers drifting to where the best offers can be had.
This month, James Baxter has written us yet another great article on the money markets. We have an update on the new road traffic laws which have just come in to place affecting all road users. Allegations of piracy in the Straits of Gibraltar with 17 tons of treasure being whisked away to the USA and a lovely article on Ya En Tu Casa, a great little family business in the heart of Vejer de la Frontera, but shipping their selected products as far away as New Caledonia.
I hope you enjoy the newsletter.
Lesley McEwan, MD, Cadizcasa
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