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Property news from UK

Many newspapers have reported a loss of profits to be gained in Spain, bad construction decisions and a loss on the Spanish stock market of a major building company. What they omit to explain is that the major building company, whose shares dropped by 60% had an increase of 1000% in the last 2 years. Construction empires on golf course in Murcia have seen a down turn in the interest of purchasers. Torrevieja has also had bad press for years due to over development. However, just visit these areas for yourselves, compare the natural beauty, the strict building regulations, laid down by local town halls, and then decide. Javea, Moraira and Denia have and will remain, special, selective and values will never take a dramatic dive as written by the UK press. Maybe the UK government are worried that 500 people are leaving the UK every day!!

This article was taken from http://www.gbinvestments.co.uk/

COSTA BLANCA

Once a beautiful coast, the southern Costa Blanca, centred on Torrevieja, now resembles a concrete estate. Inland, it's a minefield of illegal projects. If it's not cheap, it's not good value; and if it is cheap, then it's just cheap. Prices for flats have stayed the same, but villas that sold for 130,000 pounds in 2005 are asking 116,000 pounds.

The northern Costa Blanca is in better shape, especially the smart area around Javea, Denia and Moraira. The market is subdued but stable, and many vendors have given up asking silly prices. Flats are typically up 15%, and typical three bed villas in Javea, which were about 270,000 pounds two years ago, now cost about 305,000 pounds.

'Transactions are fewer, but there is still substantial interest in quality properties in good locations from a core of affluent buyers,' says David Mear, of VillaMia, in Javea.