02 Apr 2009 11:56 AM:
Better news ?
We would be naive to understand that rental revenues have fallen over the past years however in the RIGHT AREAS maybe they are starting to change?
I received this contact from my rental agents being one of the largest in Marbella this morning.
Hi xxxx
The reason I'm chasing you is that at the moment we no longer have any 2 bed properties available for long term rentals in Elviria the sooner we have yours back the sooner we can let it.
Your development is now maturing well and with more having now completed its not the ghost town it was.etc etc
They are starting to see a upturn in demand so lets hope that this demand may start to bring rental returns back.
A return on investment. ?
Now if this is the case and they pay a fair percentage of either the mortgage or if the mortgage is paid then amounts received in Euros then perhaps not as bad as some portyay in the media.
Either way those that completed several years back MAY start to be a little more happy with their decision to complete
Ineresest rates set to tumble then easing of lending could only help further.
With the legals on there way then again has to be positive ( When would help though)
If they have paid for the property then then the falls in property can be offset by around 30% fall in the conversion from Euros to sterling. They may have lost nothing even if they have to sell.
Marbella will be the safest place to buy and sell sooner than almost other area in Spain so value here may start to rise first
If some could tell me when that would be great however.
Of course this in no way clouds the severity of property falls and the financial markets but as I have always said those that have completed have lost nothing yet ,only on paper.
None or limited losses at the moment and everything to fight for.
Similar to those that fight and have won cases in the courts lets hope they get their payments,legal fees and interest back so in the end no one looses to much ( Well in the better areas anyway)and may be a few brain cells with all the worry.
Mr James
Who luvs Spain and in particular Marbella
This message was last edited by Mr James on 4/2/2009.
Community thread:
Some Better News
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