Property prices in Spain

[valerie]

Hi all.

I found the following in a magazine recently and thought it could be of interest to you.

The following are average property prices in Spain as of May 2006. (euros)


                                                         1 bedroom          2 bedroom          3 bedroom
Almeria                                                 125,508              166,167             219,630                               
Costa Del Sol                                         179,829              288,718             431,801
Costa De La Luz                                     106,952              250,126             290,182
Andalucia (inland)                                    98,396              122,254             160,929
Murcia and Costa Calida                            142,352             178,681             237,844
Costa Blanca                                          120,525              172,627             256,705
Costa Del Azahar                                     144,579             155,262             185,489
Catalunya                                              133,362              177,173             244,530
Balearics                                                177,000              330,000            495,000
Northern Spain                                       109,685               93,656             130,122


Valerie k.

[Dave]

Hi Valerie k

The figures are very usefull looks like Murcia is the up and coming place to be,lets hope they continue to grow.
Does anybody else have any more info to share?.
Dave

[Nattyo]

Taken from a magazine

"According to research by real estate advisers IREA, golf tourists in Murcia spend three times more in a day than tourists who come to enjoy the beach.  The findings show that golfers spend an average of 150 a day (not sure euros/pounds) compared to beach lovers who spend just 48 a day.  Golfing Spaniards are the biggest spenders, at 340 a day, followed by Brits and Germans.  It's no wonder that the regional government has approved 40 new golf courses to be constructed in the area over the next six years"!!


Also, on the airport front:

Murcia is growing so rapidly, a second airport is being considered for construction at Corvera, located between Fuenta Alamo and Murcia city and due to open in three years time.  Construction should start later this year and the resulting airport is expected to be as big as Alicante.  If it gets planning permission (which I'm sure it already has, as its going out to tender later this year), it will be a hub for low-cost airlines from Britain and has the potential to further transform this corner of Spain.  There are already three airports relatively close to here (Murcia-San Javier, 30 minutes, Alicante, one hour, and Almeria 90 minutes) but Corvera would be an important addition.  Research into property prices by British consultants Moneycorp shows that the average price per square metre in Spanish areas near airports increased dramatically between 2001 and 2004.  Where airports received budget flights, prices rose by up to three times more than in equivalent zones without the flights.  This fact, coupled with a massive increase in low-cost flights to Spain, means that decisions to build new airports could have a bigger impact on Spain's housing market than any other factor".

By the way, does anyone know anything about the Inland Revenue and Customs obtaining the legal right to gain access from Barclay's Bank to any of their offshore account holder's details.  This I have read will be underway by the end of June.  They reckon this is the way forward to recoup billions of pounds worth of unpaid taxes.  I believe it has a knock on affect to overseas account holders with holiday/second homes abroad.

[Dave]

Hi All

Just a little information that may be of interest to you

Look out on Wednesday for a decision on European interest rates. It is expected that the rate will increase from 2.5% to 2.75% - it's even possible a .5% increase could happen as inflation appears to be picking up.

Dave

[valerie]

Hello Dave.

Have you heard anything more about the European interest rates.  Did they go up?  We cant find any news.

Val and Paul.

[Dave]

Hi All

Here is some news i have found.
   
Euro interest rates rise to 2.75% 
 
Jean-Claude Trichet has vowed to keep a close eye on inflation
The European Central Bank (ECB) has voted to raise eurozone interest rates by one quarter of a percent to 2.75%, a move that has been widely expected.
There had been some speculation that the ECB would go for a 0.5% rise, but analysts agreed that recent market volatility made it settle for 0.25%.

The ECB has raised interest rates to tackle inflation which currently stands at 2.5%, above the 2% target level.

Inflation has risen on the back of high energy prices and economic recovery.

'Sensible action'

"The conditions are in place for growth in the euro area, remaining close to its potential rate, despite the impact of the rise of oil prices," said ECB president Jean-Claude Trichet at the news conference which followed the latest rate decision.

Analysts currently expect eurozone interest rates to rise to 3.25% by the end of the year.

"The 25 basis point interest rate hike by the ECB means that it is maintaining a steady pace in the normalization of interest rates," said Howard Archer of Global Insight.

"This seems the most sensible course of action given that a 50 basis point hike would have represented a more aggressive stance by the ECB and risked sending the euro up to new highs against the dollar, with damaging implications for eurozone growth prospects."

'Spanish meeting'

The latest ECB decision was made in Madrid at the headquarters of the Bank of Spain, one of the two times each year that the ECB holds its rate-setting meeting outside of its Frankfurt hometown.

In both May and April the ECB voted to keep rates on hold.

Until December 2005, the European Central Bank had left its rate unchanged at 2% for more than two years.

Some commentators worry that too fast a rise in European interest rates could choke off the slow-starting recovery in the eurozone, the twelve nations of the EU which use the single currency.

However, even with the current increase, interest rates in the eurozone will still be well below those in the US and the UK.
 
Dave

[valerie]

Hello All.

For anyone interested in keeping up to date with property price increases in Spain you can check this site:  KYERO.COM

Val and Paul.

[Dave]

Hi All

Keyro.com have new price guides out,regarding property prices in Spain.Check the price increases or decreases out in the Murcia region.

Dave