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Euribor Above 2% for First Time in 2 Years

Euribor (12 months), the interest rate generally used to calculate mortgage repayments in Spain, rose to 2.086 in April, a change of +8.4% compared to the previous month, and the first time Euribor has been above 2% since February 2009.

On an annualised basis, Euribor is 70.3% higher than it was a year ago (see graph above), meaning higher monthly repayments for borrowers with mortgages resetting now.

Repayments for a typical mortgage (150,000 Euros, 25 years, Euribor +0.25… full article

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Sold - Town house in Cullar

Ref: 354
Built: 120 m² Bedrooms: 5 Electricity: Yes
Terrace: 15 m² Bathrooms: 1 Water: Yes
Land: 110 m² Pool: No Phone: Yes

A large, traditional cave dwelling in a small village in Granada. At the moment it has two sitting rooms, a dining room, a kitchen, five bedrooms and one bathroom. There is room for expansion, with two more rooms which still need to be reformed, for example in extra bedrooms, or one bedroom with en-suite bathroom. Outside there is a patio and a front area of about 110 square metres. The house next door is for sale as well, but that needs total renovation.

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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