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Euribor At Lowest Level On Record

Euribor (12 months), the interest rate normally used to calculate mortgage payments in Spain, fell 0.6% in February compared to the previous month. Euribor now stands at 1.225%, the lowest level on record. Euribor is 43% down over 12 months, and 77% down from its all time high of 5.393% in July 2008.

As a consequence of the latest reduction in Euribor, repayments on a typical annually resetting mortgage (150,000 euros, 25 years, Euribor +0.75%) will fall by around 65 Euros a month, or… full article

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€ 49,950 - Cave house in Cullar

Ref: 353
Built: 125 m² Bedrooms: 3 Electricity: Yes
Terrace: 25 m² Bathrooms: 0 Water: Yes
Land: 0 m² Pool: No Phone: Possible

A large traditional cave house in need of total renovation. The property comprises of six rooms, which can be converted into a living room with a hige open fire place, a kitchen, three bedrooms and one bathroom. Outside is separate cave containing two rooms, which is currently in use as a chicken shed. Together with the garage, this could be turned into separate guest accommodation. The house next door is for sale as well.

In southern Spain, cave houses naturally maintain a steady temperature of around 19-20 degrees centigrade year round. This is quite exceptional in a montane climate like inland Granada where summertime temperatures surpass 40 degrees and where it occasionally snows in winter. Cave houses have all the amenities of a regular house and remain dry and habitable with normal ventilation.

The location near Cullar is a small village in central Granada of about 300 inhabitants. It still has rural feel to it, due to the fact that the houses are scattered around in a large area, rather than all built close together. And although it's just a small village, it does have its own medical centre, a school, a grocery store and a choice of three bars.

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