As one of the leading Estate Agents in Duquesa, Barrington Homes are frequently asked by our clients ‘When is the best time to invest in property in Duquesa?’ The answer of course is that no one really knows. What we do have indepth knowledge of are market trends, mortgage rates, property affordability, market forecasts and perhaps most importantly indepth local knowledge of the Duquesa area. With this knowledge we can advise clients on which developments in Duquesa are great buys, what property locations in Duquesa are great for rental income and the most important element in our opinion is matching our clients requirements to find them their perfect property. By considering this very important lifestyle choice our clients will always be happy with their property purchase whether they have bought for investment purposes, a holiday home or as a permanent residence.
Navigating the Duquesa Property Market
Are you thinking of ‘snapping up’ one of the many property bargains that can be found in Duquesa at the moment ? Are you unsure if now is the right time ? or what property you can get for your budget ? Here is the latest market news to help you;
Getting a Mortgage for Duquesa Property
It is currently well publicized that obtaining a mortgage in Spain in difficult. Gone are the days of easy finance. Banks are currently only willing to lend between 70 – 80% of the property purchase price and they also require numerous financial and employment documentation (including an Experian Credit report) in order for applicants to be successful. However, banks are seemingly recovering from the credit crunch and the number of new mortgages approved in July 2009 rose by 7.2% on the previous month. Their willingness to start lending again means that they are regaining confidence in the property market and applicants in a strong financial position are now more likely to secure the finance they require.
Euribor – Calculating the cost of your mortgage for buying a property in Duquesa
All mortgages offered by Spanish banks are based on the Euribor rate. This interest rate is applicable to all Spanish mortgages and the good news is that Euribor is hitting record lows every month this year ! Euribor is now a staggering 75% lower than it was this time last year leading to significantly more affordable mortgages being offered. Euribor is currently 1.334% and mortgage experts do not expect the rate to fall below 1%.
When to invest in Property in Duquesa ?
Property prices in Duquesa are on average at 7 year lows. Following the property boom in 2005-6 prices have fallen to the same levels of 2002. It is of course unclear when the property prices will rise again but industry experts predict prices will be well on the way to recovery by 2012. Barrington Homes have witnessed a steady increase in the return of property buyers in the Duquesa area all hoping to take advantage of the current pricing levels. Many clients have always wanted a property in the area but were previously unable to afford it. So, on the basis of a low Euribor, low property prices and the banks returning confidence in the property market now is one of the best times to invest in the area. As with any property purchase made for investment purposes Barrington Homes advise our clients to make a 7 to 10 year commitment to see the capital growth they would require. If you are interested in property in Duquesa contact Barrington Homes with your buying criteria and we can certainly find you a great value property that you will undoubtedly be very happy with. Taking the long term view property prices will significantly increase and in the mean time all you have to do is enjoy the property and the wonderful Duquesa area with its blue flag beaches, stunning Marina, international restaurants and championship golf courses……sounds great ?? It is !!
Showing posts with label buying a property in Duquesa. Show all posts
Showing posts with label buying a property in Duquesa. Show all posts
Thursday, September 3, 2009
Friday, May 1, 2009
Buyers guide to buying a bargain property in Duquesa
Buyers guide to buying a bargain property in Duquesa
In todays market it may appear that all Spanish properties are for sale and all have incredible discounts and huge savings. This is in part true but the as a newcomer to the area or even a seasoned property investor it is difficult to know which way to turn.
When buying a property in Duquesa it is easy to become distracted by those properties with the lowest price or those that are advertised with massive discounts. However these examples don’t necessarily represent the best Duquesa property investments or genuine bargains.
There are no new secrets to buying a property in Duquesa but it is important to remind yourself of what is important to you the buyer i.e. why are you buying a property in Duquesa? Is it for holiday rentals? Is it to relocate to the area? Or are you simply looking to buy a discounted Duquesa property in the hope you will profit from future capital growth?
The 3 key elements to identifying a true bargain are LOCATION, QUALITY and PRICE. If a property scores high marks on all three of these criteria, then it starts to represent value for money, and therefore could be truly considered a Duquesa property bargain.
Great Duquesa property Locations:
If you are looking to buy a property for your own use for holidays or are looking to relocate to the Duquesa area the location question is not as easily answered in general terms as each individual will have different requirements e.g. quiet location or walking distance to amenities. What is important here is to visit the property on several occasions and at different times of the day so you have a clear picture of what it may be like to live there.
Should you want to buy a property for holiday rentals or investment the question of location is vital. Many agents many tell you what a great holiday rental properties all properties are and how much money you can make per year. All this information will sound very appealing and a ‘no brainer’ to buy the property. Unfortunately in my experience some of these agents have no experience in the rental property field and are not giving you accurate rental figures nor correct guidance. By choosing an experienced and knowledgeable Duquesa Estate agent such as Barrington Homes you can benefit from their years of property rental experience and be shown select properties that we know will generate a good rental income for you and as such be a sound property investment. There are only very few developments in the area that will generate a good rental income and it is vital to seek professional advise from Barrington Homes when making your decision.
Quality Duquesa Properties
Fortunately the majority of properties in Duquesa are generally of a good standard. It is also relatively easy and cost effective to make any minor cosmetic property changes should you wish to do so. An important point which is often overlooked is the quality of the urbanization to which the property may belong. A well run, well maintained, attractive urbanization is often a key contributing factor to resale prices and property resale values. It is important to find out how much the community fees are for the property and also the urbanizations future plans, maintenance schedules etc.
Duquesa Property Prices
Don’t be misled by attractive discounts by Duquesa property developers or estate agents advertising. Although these are genuine discounts from previous prices you are advised to do your homework to find out other property prices in the development or how much the properties sold for in previous years to get an idea of what the potential price of the property will be in future years. This will give you a clear guide of the value for money you are being offered.
The first step in buying a property in Duquesa
After reviewing the above points you can inform your Estate Agent of your requirements. At Barrington Homes we like to have as much information as possible about our clients buying requirements so we can ensure we are finding them the perfect match at the best price and in their ideal location. If you are considering purchasing a property in Duquesa contact Barrington Homes. By informing us of your criteria (Budget, property requirements, and reason for buying the property) we can then proceed to find you a great property using our extensive property database and also years of knowledge we have by living and working in Duquesa.
We look forward to hearing from you. For further advice and guidance contact us on(0034) 952 936 216 or email info@barringtonhomes.eu
In todays market it may appear that all Spanish properties are for sale and all have incredible discounts and huge savings. This is in part true but the as a newcomer to the area or even a seasoned property investor it is difficult to know which way to turn.
When buying a property in Duquesa it is easy to become distracted by those properties with the lowest price or those that are advertised with massive discounts. However these examples don’t necessarily represent the best Duquesa property investments or genuine bargains.
There are no new secrets to buying a property in Duquesa but it is important to remind yourself of what is important to you the buyer i.e. why are you buying a property in Duquesa? Is it for holiday rentals? Is it to relocate to the area? Or are you simply looking to buy a discounted Duquesa property in the hope you will profit from future capital growth?
The 3 key elements to identifying a true bargain are LOCATION, QUALITY and PRICE. If a property scores high marks on all three of these criteria, then it starts to represent value for money, and therefore could be truly considered a Duquesa property bargain.
Great Duquesa property Locations:
If you are looking to buy a property for your own use for holidays or are looking to relocate to the Duquesa area the location question is not as easily answered in general terms as each individual will have different requirements e.g. quiet location or walking distance to amenities. What is important here is to visit the property on several occasions and at different times of the day so you have a clear picture of what it may be like to live there.
Should you want to buy a property for holiday rentals or investment the question of location is vital. Many agents many tell you what a great holiday rental properties all properties are and how much money you can make per year. All this information will sound very appealing and a ‘no brainer’ to buy the property. Unfortunately in my experience some of these agents have no experience in the rental property field and are not giving you accurate rental figures nor correct guidance. By choosing an experienced and knowledgeable Duquesa Estate agent such as Barrington Homes you can benefit from their years of property rental experience and be shown select properties that we know will generate a good rental income for you and as such be a sound property investment. There are only very few developments in the area that will generate a good rental income and it is vital to seek professional advise from Barrington Homes when making your decision.
Quality Duquesa Properties
Fortunately the majority of properties in Duquesa are generally of a good standard. It is also relatively easy and cost effective to make any minor cosmetic property changes should you wish to do so. An important point which is often overlooked is the quality of the urbanization to which the property may belong. A well run, well maintained, attractive urbanization is often a key contributing factor to resale prices and property resale values. It is important to find out how much the community fees are for the property and also the urbanizations future plans, maintenance schedules etc.
Duquesa Property Prices
Don’t be misled by attractive discounts by Duquesa property developers or estate agents advertising. Although these are genuine discounts from previous prices you are advised to do your homework to find out other property prices in the development or how much the properties sold for in previous years to get an idea of what the potential price of the property will be in future years. This will give you a clear guide of the value for money you are being offered.
The first step in buying a property in Duquesa
After reviewing the above points you can inform your Estate Agent of your requirements. At Barrington Homes we like to have as much information as possible about our clients buying requirements so we can ensure we are finding them the perfect match at the best price and in their ideal location. If you are considering purchasing a property in Duquesa contact Barrington Homes. By informing us of your criteria (Budget, property requirements, and reason for buying the property) we can then proceed to find you a great property using our extensive property database and also years of knowledge we have by living and working in Duquesa.
We look forward to hearing from you. For further advice and guidance contact us on(0034) 952 936 216 or email info@barringtonhomes.eu
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