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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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€ 109,000 - Town house in Illora

Ref: 497
Built: 120 m² Bedrooms: 3 Electricity: Yes
Terrace: 11 m² Bathrooms: 1 Water: Yes
Land: 0 m² Pool: No Phone: Yes

A nice, three bedroom village house in Illora, in Granada. The house comprises a living room and a salon, which could be converted into one large living space, a fully fitted kitchen, three bedrooms, a fitted and tiled bathroom. The house has a roof terrace, a garage with indoor access, and a traditional wine cellar with outdoor access. The property can be purchased fully furnished, in which case you would have to add another 6,000 euros to the asking price.

Illora is a small town of 10,000 inhabitants in the province of Granada, at about twenty minutes' driving distance from the airport and the city of Granada, 35 minutes to the Sierra Nevada and about an hour to the beach. In winter, you could go skiing in the morning and work on your tan on one of the beaches in the afternoon. Illora has everything you need, such as schools, shops and supermarktets, banks, a medical centre, and bars and restaurants.

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