moraira

Moraira Property

I recently visited Moraira to enjoy a coffee in a seafront cafe, in the El Portet area of Moraira. It is a magical bay, surrounded by villas and small apartments, overlooking the Mediterranean Sea and sheltered from the north winds.

As apartments are built in Javea and Moraira, usually almost 100% of the property is sold before the complex is finished. Why is this? Typically the property purchasers are from Madrid or Northern Europe. Those from Madrid may be attracted by the property prices, always lower than the property prices in the city of Madrid. Also they can holiday in their new homes by the sea, escape the heat of the summer months in the city and enjoy the refreshing sea breezes, the beautiful surrounding scenery and the Mediterranean lifestyle.

Property purchasers from the UK and other northern European countries are attracted by the off plan property prices offered by the constructors. The other benefit is of course the summer holiday rental period, which can provide an extra income to help to pay for their property investments. Javea has seen over 2000 apartments built in the last 10 years. Each year more and more people visit the area and then decide to return and live here all year round.

It is a real pleasure to see young families arriving to live in Spain, wishing to improve their lives and escape from their mundane jobs, high mortgages and the dull weather. They have decided to live their dream and start a new life in the Mediterranean sun. Be careful though, as many have to return to the UK because of lower wages and private school fees. Eating out in Javea and Moraira is cheaper than in the UK, so you tend to eat out more often. So do your sums well. It’s easier to spend money than to earn it, anywhere in the world.

Moraira has fewer new apartments, due to the scarcity of land along the Moraira coastline. Javea in turn has more land available to build new property and apartments. Therefore the property prices of apartments in Moraira are a lot higher. New builds are costing up to 4,000 euros per square metre in Moraira, while in Javea prices for new apartments start at 2,200 euros per square metre.

I visited a fantastic property in Moraira, an apartment. The property owners have invested a lot of time and well spent money on reforming a three bedroom apartment in an older complex. The transformation was brilliant. No expense was spared on the property, new fittings, kitchen units, floor tiling, new electrics and even creating an extra shower room in an area which was originally part of the entrance hall.

Every area in the property has been finished to a high standard, the floors, walls, marble worktops in the kitchen, new doors. It also has hot and cold air conditioning. The property refurbishment was one of the best that I have seen. Well done to the owners! And good luck to the future Moraira property purchasers, as they will be delighted with their new 3 bedroom, 2 bathroom apartment in Moraira, just a 5 minute stroll to the old town and the beach. Alternatively, there is a large pool on the 5th floor, if you fancy a dip, just metres from this fantastic apartment!.

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TINSA property valuation report released 17.7.18: Prices on the Mediterranean coast have risen by 7.4% over the last year.

The leading Spanish valuation company Tinsa has published their latest report on Tuesday 17 July 2018, relating to residential property values. The average price of housing in Spain increased by 6.4% year-on-year in the month of June 2018, driven by the "capitals and large cities" and by the "Mediterranean coast", which show an increase of 10.2% and 7.4% respectively.

While the latest average price is still calculated to be 35.7% lower than the peak reached during the boom in 2007, it now 12% higher than when the market bottomed out in February 2015.

After the first 6 months of 2018, Tinsa describe the increase in property values as "dynamic”.

Here is a link to the Tinsa report.  You can download the report by clicking on "descargar informe" or scroll down the page on the link below, to see the figures for the Mediterranean coast under the section "Variación interanual en los últimos 12 meses" (interannual variation for the last 12 months):

https://www.tinsa.es/servicio-de-estudios/imie/general/junio-2018/

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Tinsa IMIE junio 2018: + 6,4%. 17 julio, 2018

Las capitales y grandes ciudades toman impulso y se encarecen más de un 10% en tasa interanual en junio 2018.

El precio medio de la vivienda terminada en España se incrementó un 6,4% interanual en el mes de junio, impulsado por las "Capitales y grandes ciudades” y por la "Costa mediterránea”, que se revalorizaron un 10,2% y un 7,4%, respectivamente.  

Descargar informe:

https://www.tinsa.es/servicio-de-estudios/imie/general/junio-2018/

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The leading Spanish property valuation company Tinsa has reported a 6.7 % rise in prices in Mediterranean coastal properties in the last year (December 2018).

The leading Spanish property valuation company Tinsa has published their most recent data concerning property prices, reporting that the on-going recovery of prices across the country continues in all areas and categories.

The year on year increase reported in December 2018 was shown as 6.5 per cent across the country and 6.7 per cent in Mediterranean coastal areas. 

Year on year variation in property prices in the last four years:

2015:  + 2.9 %

2016:  - 1.3 %

2017:  + 5.7 %

2018:  + 6.7 %  

Please click on the link below to see the official Tinsa report showing the table of figures and the full details.

https://www.tinsa.es/servicio-de-estudios/imie/general/diciembre-2018/

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LATEST CORONAVIRUS NEWS: THE LOCK-DOWN IN SPAIN HAS BEEN EXTENDED UNTIL THE 9 MAY 2020:

We are however continuing to work remotely from home, dedicating our time to answering any queries you may have and we will be pleased to provide further information for any properties on our website which you think might be of interest.

I have lived in Javea for 26 years and our Javea Casas website has been established for over 20 years. Our website includes directly listed properties and in addition we have listings from approximately 25 collaborating estate agencies, whose properties are sent automatically and every day, directly to our website. We therefore have a large selection of properties to offer you, in local towns such as in Javea, Moraira, Benitachell and Jesus Pobre. Please do not hesitate to contact us, we will be delighted to hear from you.  Keep safe and well.  Many best wishes, from Dawn Nott.

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Property prices in the Alicante coastal region rose by 2.7% in 2019, as reported by the leading Spanish property valuation company Tinsa.

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SPAIN´S FOUR STAGE PLAN FOR EASING CONFINEMENT FROM 2 MAY 2020

Pedro Sanchez, the Spanish prime minister, has announced a four stage plan which will gradually ease our confinement and if all goes well this will take us to a "new normality" by the end of June 2020.  Great news.

For further information please take a look at The Citizens Advice Bureau Spain website by clicking on the following link.  https://www.citizensadvice.org.es/faq/coronavirus-way-forward-to-new-normality/

Another good source of information in English is the Spanish newspaper El Pais.  https://english.elpais.com/

I have lived in Javea for 26 years and our Javea Casas website has been established for over 20 years. Our website includes directly listed properties and in addition we have listings from approximately 25 collaborating estate agencies, whose properties are sent automatically and every day, directly to our website. We therefore have a large selection of properties to offer you, in local towns such as in Javea, Moraira, Benitachell and Jesus Pobre. Please do not hesitate to contact us, we will be delighted to hear from you.  Keep safe and well.  Many best wishes, from Dawn Nott.

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Between the last half of 2021 and the first half of 2022, property on the Spanish coast has experienced a period of recovery, with active demand and prices which have generally exceeded 2019 levels.

TINSA property report 29 July 2022.

The coastal market has been reactivated after the 2020 brake imposed by mobility problems and the Covid health alert. This is one of the conclusions of the report 'Housing on the Coast 2022' published by the real estate valuation and data group Tinsa.

The coastal areas which have exceeded the national average for prices, sales and visas are located in Ibiza and Alicante (between Denia and Benissa).

86% of coastal municipalities registered annual price growth in the first quarter of 2022. Overall, the average value of housing on the coast (first and second residence) increased by 4.2%.

Please click on the following link to view the TINSA website and to see the full report. "Google Translate” is available if you wish to see the reports in an alternative language.

https://www.tinsa.es/sala-de-prensa/notas-de-prensa/informedecosta2022/

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10 reasons to buy property in Spain

1.  In times of political and economic instability (war, stock market crash, global pandemic, bank runs, high inflation, etc.), gold and real estate are king as traditionally they act as safe havens where savers shelter their money to weather the storm.

2. Staves off inflation. At a time when central banks have (irresponsibly) printed money to no end, vastly increasing the monetary mass which in turn has led to inflation spiralling out of control worldwide, real estate offers by contrast a placid solace to deposit your life savings. Savings sitting idly at a bank are devoured by rising inflation, losing value every year.

3. Tangible asset. Real estate is a tangible asset that you can touch, feel, and see any time of the day. This acts in sharp contrast to ethereal investments, such as crypto currencies and other intangible assets, which are really never under your control, hard to understand, and even harder to monitor.

4. Security. The laws in Spain offer property owners a solid legal framework which protects and upholds their rights as behoves a modern European democracy. In several regions of Spain (i.e. Madrid, Andalusia, Galicia, etc.) inheritance tax and wealth tax have been suppressed. These regions have also slashed property transfer tax and stamp duty on buying property.

5. Capital growth. It’s no secret that real estate always appreciates in the long run. Unlike other volatile investments (such as stocks, bonds, and mutual funds) which undergo huge fluctuations, real estate offers a constant and gradual increase of value over time. Property prices in Spain have risen by 16% over the last five years (and even by two digits year-on-year in some sought-after areas, such as large cities (i.e. Madrid, over 40%) and coastal areas (i.e. Marbella, 40%). You really don’t need to invest in Bitcoin to strike it rich, just stick to the basics.

6. Generates passive income. Rental yields in Spain have soared by two digits over the span of three years. Spain is the world’s second tourist destination creating a huge pentup demand for holiday accommodation. Investing in property, and collecting the rent, is indeed a (very) profitable business in Spain. For long-term rentals, you can expect a net yield of 5% a year; for holiday accommodations it’s over 10%. They don’t call them ‘landed’ gentry for nothing!

7. Equity leverage. Investing in real estate allows you to leverage your equity over time. In plain English, this means that if you finance a property with an investment loan, the amount of money you borrow will eventually be less than the value of the property once it appreciates over time. After some years, you can refinance and use some of the additional equity to invest further in other properties. This strategy is ideal for investors who want to play it safe and adopt a long-term investment strategy, building up a healthy property portfolio over time.

8. Source of cash flow. Rented properties generate a constant revenue stream for their owners. Landlords may use the collected rent to pay overheads and other property maintenance expenses - including monthly mortgage repayments! In a nutshell, a wellchosen property pays for itself!

9. Generous tax deductions. Unbeknownst to most people, Spain offers lenient tax allowances which in effect reduce a landlord’s tax bill by 70%, or more (applies only to EU residents). You can offset all property maintenance expenses, including your lawyer’s fees (to calculate the rental tax) and mortgage interests! Once deducted, property offers great returns on investment.

10. Strong dollar vs. weak euro. This advantage is unique to those investors holding US Dollars. Due to the lack-lustre and reactive performance of the ECB, the US Dollar has strongly appreciated against the Euro over the last months creating unique buying opportunities. In plain English, never before has Spanish property been cheaper and more appealing to savvy US Dollars holders. Not to mention that buying property opens the door to a coveted Golden Visa, which allows unfettered access to the Schengen Area (27 countries). When you combine soaring rental yields and capital growth, you reach the conclusion that Spanish real estate is delivering a safe two-digit return year on year.

(As published 10.5.23 on "Idealista” under the "news” section).

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New law requiring registration of all real estate agents

NEW LAW REQUIRING REGISTRATION OF ALL REAL ESTATE AGENTS IN THE VALENCIA COMMUNITY

We are pleased to confirm our compliance with a new law (Decree 98/2022), which includes a number of obligations affecting all individuals or legal entities who are dedicated to providing advice and intermediation in real estate operations within the Comunidad Valenciana.

From the 16 October 2023, all agents must be registered in the Register of Real Estate Agents of the Valencia Community (el Registro de Agentes de Intermediación Inmobiliaria de la Comunidad Valenciana), and they must fulfill a number of requirements in order to register, including the following.

1)  Agents must be the holders of a surety insurance (seguro de caución) and professional civil responsibility insurance.

2)  Provide proof of accreditation, to demonstrate agents are qualified to perform the real estate activity.

WE ARE PLEASED TO PROVIDE DETAILS OF OUR COMPLIANCE WITH THE NEW LAW:

(In the name of Dawn Patricia Nott on behalf of Javea Casas) 

GENERALITAT VALENCIANA REGISTRATION NUMBER:   RAICV 1230

MEMBER OF A.N.P.I.F.F.  Asociación Nacional de Profesionales Inmobiliarios Financieros y Fiscales:  Reg. Nº  1.964 

INSURANCE POLICIES:

Company:  AXA:  Civil responsibility insurance, policy number 85114094.

Company:  INTERCAUCIÓN AGENCIA DE SUSCRIPCIÓN S.L.:  Surety insurance. Certificado de seguro de caución número 62736804.

ACCREDITATION:  Dawn Patricia Nott is the holder of the following qualification:

"DIPLOMA DE TITULACIÓN AGENTE PROFESIONAL INMOBILIARIO”.

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