One look at the property market in Spain
It ‘s been a while since we’ve discussed developments in the housing market in the Marina Baixa . We therefore contacted one of our advertisers , Ragnhild Stenbo in SOLALBIR for any comments.
SOLALBIR is otherwise fairly fresh , though Ragnhild has extensive experience from several brokers before. Since the company started in October 2011 , they have now established a separate portfolio of more than 400 properties. She describes the development as ” very good ” . Current speed is great, and she talks about getting younger Norwegian homebuyers , often families who try stayed here a year or two earlier , only to have traveled back to Norway . There, they discover the difference , sell what they have in Norway and move here permanently.
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The current speed accuracy due course that it is now ” buyer’s market ” and that one can make a bargain and a safe investment right now , when prices have fallen so much , she says.
As it is, it is almost the only Norwegians who buy property in Albir, but Stenbo think other nationalities from northern Europe will flock to the Spanish coast in the future, when prices have fallen so much. Those who have settled here , are also excellent ambassadors for recommending several of his friends to leave the winter country , at least by investing in a rental . A small dark cloud in the sky may be the growing Norwegian housing bubble. Recent reduction of Norwegian interest rates, will be able to shoot a new impetus to this , which will eventually have to burst.
But right now it’s a fantastic opportunity for those selling their home in Norway at the upper end of the price scale, while they can buy houses in Spain on the lower part of the same scale .
We know that it is not as easy to get loans from Spanish banks anymore, because many of them are struggling to meet my gracious equity requirements . Stenbo says that those who buy a holiday home here usually has a property in Norway that they can leverage to finance the purchase of a property in Spain . But they are selling their home in Norway , and settles permanently here often take loans in Spain , and then we recommend that they go to the Danish bank Nykredit , which has an office here in Albir, which admittedly only gives loans to those are holders of a Scandinavian passport. They usually provides loans with a 30 year repayment period , a 10 -year interest-only , and up to 80 % in funding. Otherwise , as we cooperate with Spanish banks that can offer up to 70 % financing , she said.
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SOLALBIR is otherwise a 100 percent Norwegian-owned company that focuses on the international market , not only Norwegians. They also offer many services together under one roof. – We accountant who assists us brokers, buy and sell , when it comes to answer any tax questions, report the taxes and fees that included a property transfer . Our accountant also arrange all types of insurance , and is agent for several insurance companies. We also provide legal assistance , and our attorney can help our customers with NIE numbers and other public documents , she said. One should appreciate the people who dare to bet in times like this. SOLALBIR are right next door to Mercadona in Albir.