Property prices and sales continue to increase in quarter 2, 2018
Property prices continue to increase which is excellent news for vendors. Statistics released by the Spanish government, indicate the market value of housing was 2.6% higher during the second quarter of this year than it was in 2017.
The national property price index is 23.9% higher than it was four years ago. The Spanish property market along with the general economy is recovering well.
However, there are variations between the autonomous regions.
Madrid has enjoyed increases in property prices by 10.1% over the last year with the Murcia region seeing an increase of only 1% during the second quarter of 2018 and 2.6% during the year.
Despite continued demand for property in the Murcia region, the property price index is still only 9% higher than it was in 2014 when prices were at their lowest.
We have noticed a significant increase in property sales for properties valued at below €150,000 with slight increases with higher valued properties.
Sold within 2 days of marketing
Maximise the chances of selling your property
- Make sure the property is well decorated in neutral colours. Neutral colours appeal to most tastes.
- Clean and present your home and make it inviting. Keep your pool clean and gardens well presented.
- Provide potential purchaser’s with up to date information, have to hand the cost of IBI and utility bills and give a copy to your agent together with a copy of the escritura.
- Keep in touch with your agent
- Chose an agent who will:-
- Present your property at its very best and who takes the time to take their own photographs.
- Also choose an agent who will discuss with you your plans and also one who fully appreciates what your property has to offer.
A market of growth, we would love to sell your property.
All types of properties required for sale and rent.
Property insights North West Murcia, Spain.
North West Murcia Properties experienced a fantastic end to 2017 and an awesome start to 2018 with many properties successfully sold.
With the upturn in the property market and increasing coastal prices more buyers are travelling inland.
Now is the time to consider selling your property.
Call Alan on 634340130 to arrange an initial discussion.
Prices achieved range between 35,000 euros to 350,000 euros and all types of properties are proving interesting to buyers.
Additionally, the buyers we work with are genuinely interested in buying a property in Spain.
Being members of the Association of International Property Professionals (AIPP) we pride ourselves on our professionalism and integrity.
Call Alan 634340130 to discuss ‘Property insights North West Murcia, Spain’
Rental terms, North West Murcia Properties professional letting agents
We take the rental of our clients properties seriously and go the extra mile to ensure, as much as is reasonably, that our owner clients interests are protected.
Our terms are robust:-
We only contract for a minimum of 12 months.
The equivalent of 6 weeks rent are required as a damage deposit and this is non-negotiable
We require proof of ability to pay and proof of payment history. As an example an experian credit report.
We require personal details for all adults who reside at the property. NIE, Passport, an alternative contact address.
Tenants will need a bank account for the transfer of rent.
Many expat landlords are unaware of the different mechanisms in place to secure rental income.
Therefore, landlords often fail to implement the required mechanisms with in their rental agreements and therefore leave them unprotected.
Most mistakes made by landlords are related to their tenants becoming non-paying tenants. This can understandably cause great pressure.
What landlords must not do:
Shutting off utilities (water & electricity).
Landlords often feel the urge of doing this as they are missing out on their rental.
If you happen to do this your tenant can report you to the police.
In doing this it may be classed as either coercion or harassment and even both.
Your tenant can prosecute you criminally on doing this.
If the utilities are in the name of the landlord and he stops paying them on purpose he can equally be prosecuted
North West Murcia Properties take immediate action to collect any rent or utilities outstanding.
We also will not accept anything less than a sum equal to two months’ rent a deposit
A deposit of this size is usually sufficient to cover any debts
Changing the locks.
As with the above this may be regarded as either coercion or harassment or both and you may be prosecuted criminally for this.
Taking justice into their own hands.
Evicting non-paying tenants
In Spanish law this is classed as unlawful entry (trespassing).
The only legal way to evict your tenant is to hire a lawyer and initiate a formal eviction procedure through the Spanish law courts.
New laws have been enacted to help speed-up the eviction procedure. North West Murcia Properties have never had cause to evict a tenant as we vet all potential tenants carefully
Entering the property under the guise of a ‘routine check’.
You need prior written permission from a tenant.
You simply need their permission following Spain’s Tenancy Act regardless if they are paying the rent or not.
Eleven-month contracts are short-term and watertight.
What qualifies a rent as either short or long-term is not the fact that it’s labelled one way or the other.
What matters really is that the tenant and his family are not using the property as their main residence and this must be expressly built and worded into the Tenancy agreement.
Tenants can successfully challenge at court short-term 11-month contracts morphing them into long-term ones (5 years).
Therefore, for the next 5 years you will be unable to recover possession of the property.
This is providing the tenant pays their rent tenant and utility bills.
The new Express Eviction Law has now amended this and allows landlords to introduce clauses that waive the statutory long-term requirement of 5 years.
North West Murcia Properties work with their legal advisors to ensure our contracts protect the landlord
A verbal Tenancy contract is better than a written one.
No. In Spain verbal contracts are equally valid as written ones.
When there are disagreements. It’s very difficult to prove what was actually agreed in a verbal contract
It’s in the best interests of both tenant and landlord that rental agreements are always put in writing.
Tenants have a right to demand having a verbal contract put in writing by their landlord.
I can always offset the 2 months’ rental security deposit against my unpaid rental.
No! the tenant cannot. That two-month’s initial security deposit serves its own legal purpose and at no time can be used to compensate rental shortfalls.
I can always leave the property ahead giving 30 day’s notice.
Yes, you can but you will be held liable to pay for the remaining months you agreed to rent.
You may leave ahead but you will owe the let for the remaining months stipulated in the contract
North West Murcia Properties will pursue a tenant legally if they fail to pay the balance owed.
Legally the tenant owes the outstanding months and if you decide not to pay them you are taking a legal gamble.
Deducting damages from the rent. All tenants feel tempted to fall for this one.
At no time can a tenant decide unilaterally to pay less rent or withhold part of the rent to offset against unforeseen damages or expenses.
First of all some damages have to be paid, under law, by the tenant himself; especially those relating to the normal wear and tear on renting out a property (Art 21 of the Urban Tenancy Act as well as Arts 1.563 and 1.564 of the Spanish Civil Code).
It is seldom a good idea for a tenant to practice a retention or withhold amounts when you feel it’s appropriate without having the landlord’s prior agreement in place and in writing.
This may even be a cause for legal eviction as you are effectively breaching the signed Tenancy agreement.
Rental terms, North West Murcia Properties professional letting agents
We love what we do and welcome you to our company! Our Services
North West Murcia Properties has been operational since 2013. We have enjoyed tremendous growth which is based on commitment and honesty.
Our forward thinking and pro-active approach is proving very successful and the split between Spanish and UK clients (both buyers and sellers) is equitable. In addition, we have many new clients from the wider Northern European countries searching for Murcia properties.
We embrace all business opportunities to attract more clients through structured marketing and internet advertising, the full integration of our business with Spanish partners is key to this success.
A snapshot of this beautiful area
Selling your property
To maximise the chances of selling your property.
Make sure the property is well decorated in neutral colours. Neutral colours appeal to most tastes.
Clean and present your home and make it inviting. Keep your pool clean and gardens well presented.
Provide potential purchaser’s with up to date information, have to hand the cost of IBI and utility bills and give a copy to your agent together with a copy of the escritura.
Chose an agent who will:-
Present your property at its very best and who takes the time to take their own photographs.
Also choose an agent who will discuss with you your plans and also one who fully appreciates what your property has to offer.
Buying in Spain
Here you will find information on questions you should be asking when you are looking for your house in Spain.
Please check all information before purchase as information changes over time.
Appointing a Fiscal representative, solicitor (abogado).
Whilst it is not a necessity to have a solicitor to purchase a house in Spain, we highly recommended you employ one.
They will be able to check out any outstanding debts which exist on the property as well as help with contracts and NIE numbers. You are free to appoint a solicitor of your choice.
There are agents who will want to prepare the sales contract and take you to notary without legal representation. Please be cautious. In our opinion it is advisable not to allow your agent to prepare your contract of sale/purchase.
We strongly recommend using a lawyer.
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