YES, It looks as if prices are close to the bottom in Spain

Paco de Lucia - Die

Finally, it seems that the prices on Spanish real estate are close to the bottom or at least concerning the properties close to the coast. Overall we will still see a decrease in the prices as the number of properties bought by foreigners, mainly close the coast, accounts for only a few percent of the total Spanish property market.

A little increase in the national demand is noted for coastal properties as well but even as the interest rate in Spain is now approaching a decent level we do not expect the national demand to increase dramatically. The international buyers are now again purchasing new built for various reasons; one is that the building style has changed to a more modern one compared to what was the general trend 10 years ago. Another reason is that the many of the properties that were forced to sell are now sold and a normal pace has returned to the market again driven by the general levers in a property market.

Many buyers are still looking for a bargain but the real bargains have become fewer and we see that good properties are selling well if priced correctly. The question then is will prices now go up? We predict that they will not for at least 18 – 24 months and if so then merely with the inflation rate.

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Have a good summer :-) BR Alacant Estates

A SPANISH ICON – Paco de Lucia dies

Paco de Lucia - Die

February 26, 2014, Playa del Carmen, Mexico. Paco de Lucia dies.

Paco de Lucia - Die

Paco de Lucia – Die

World-renowned Spanish guitarist Paco de Lucia has died aged 66 in Mexico, reportedly of a heart attack while playing with his children on a beach. The death of one of the most celebrated flamenco guitarists was announced by the mayor’s office in Algeciras, southern Spain, where he was born. Famous for a series of flamenco albums in the 1970s, he also crossed over into classical and jazz guitar. He also worked on films by Spanish director Carlos Saura, notably appearing in his 1983 version of Carmen, which won a UK Bafta award for Best Foreign Language Fi 1985. Algeciras is to hold two days of official mourning. Its mayor, Jose Ignacio Landaluce, called the musician’s death an “irreparable loss for the world of culture and for Andalusia”. He had lived both in Mexico and in Spain in recent years. Paying tribute to a “very special musician”, fellow Spanish flamenco guitarist Paco Pena, 71, told BBC Radio 4′s Front Row: “Once in a while someone comes along in a musical discipline who changes everything, who sees things that others have not seen up to that point, and Paco de Lucia was one of these people. “After him, flamenco radically changed and the proof is that so many young people have taken his lead and now flamenco is full of that virtuosity.” He was born Francisco Sanchez Gomez on 21 December 1947, the son of flamenco guitarist Antonio Sanchez, who was of Gypsy origin. He took his stage name in honour of his mother, Lucia Gomes. It is believed he had played the guitar from the age of five. “My family grew up with the Gypsies,” the guitarist was quoted as saying in a 1994 article in Guitar Player. “My father and all my brothers played guitar, so before I picked it up, before I could speak, I was listening. Before I started to play, I knew every rhythm of the flamenco. I knew the feeling and the meaning of the music, so when I started to play, I went directly to the sound I had in my ear.” At the age of 18 he recorded his first album in Madrid. One of the great musical partnerships of his life was with the singer Camaron de la Isla, who died in 1992. The two men recorded albums in the 1970s, which inspired a New Flamenco movement. In 2004, Paco de Lucia was awarded Spain’s prestigious Asturias Prize for Art as the “most universal of flamenco artists”. The jury said at the time: “His style has been a beacon for young generations and his art has made him into one of the best ambassadors of Spanish culture in the world.” Among those he worked with outside Spain was British guitarist John McLaughlin. Source; BBC News Europe 

Light ahead

Paco de Lucia - Die

Greetings from Spain to our clients, friends and people who might consider buying a property a Spain.

In general hard times continue in Spain. New corruption scandals seem to pop up every week and along with those already known reaching all the way to the government and to the royal family, the legal situation seems a long way from northern european standards.

Combined with a banking system still with great need of restructuring and the lack of financing for small companies and families in general or with interest rates well beyond the level in Europe in general and at the same time a very high unemployment rate especially among young people, the situation looks almost hopeless.

However, Spain has been in trouble many times before and the generation who has experienced real poverty last time is still alive and this will is one of the things that will help Spain through the crisis along all technocratic instruments implemented at the same time.

Looking on the property market we believe we are close to the bottom of the market, or maybe not that close if we look at the general Spanish market. But looking at the market at the coasts then yes. The areas with an international demand are now picking up. If not yet in prices then at least in number of operations. In our next newsletter we will look closer to how the market is composed now and how it is expected to develop.

2013 has been a fantastic year for us and we should like to thank all of our clients for doing business with us and at the same welcome back those of you who have not yet decided on your home in Spain.

Kind regards / Med venlig hilsen / Un saludo
Alacant Estates