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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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€ 247,000 - Country house in Comares

Ref: 362
Built: 162 m² Bedrooms: 5 Electricity: Yes
Terrace: 100 m² Bathrooms: 1 Water: Yes
Land: 1,200 m² Pool: No Phone: No

These are actually two houses that can be bought separately, in which case each of them would have a totally different selling price of course. But the question is whether you want to share the garden with future neighbours, because then you would lose much in privacy of course. It is certainly a house with rental potential. Be it the letting of rooms, a Bed & Breakfast or a separate apartment, the possibilities are there.

Right now the finca comprises of 5 bedrooms and no less than 3 living rooms, but when walking through the building you will see that you can easily have more bedrooms. When you look at the house, there are certain things you will probably want to change, but it is not that have to do anything. This property is in very good condition and all you would want to do is change is to your own personal taste. And that is something you can do at any point in time.

THe land that comes with this finca is mainly flat, and you could turn it into a lovely garden. The views are very good. There are some neighbouring houses around this detached finca. THe drive over small but excellent roads to villages llike Comares, Colmenar or Riogordo takes about 12 minutes, the beach and the international airport can be reached in 35 minutes.

Comares is an attractive town to live nearby. The variety in the surroundings is enormous: one minute you are passing avocado and orange trees, the next you are driving over a mountain ridge past cork-oaks and carob trees into the fantastic Montes de Malaga natural park. The possibilities to undertake excursions from this property are endless.

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