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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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€ 168,000 - Cortijo in Galera

Ref: 519
Built: 250 m² Bedrooms: 5 Electricity: Close by
Terrace: 0 m² Bathrooms: 0 Water: Close by
Land: 20,000 m² Pool: No Phone: No

A cortijo that needs work before you can move into it, but it will be well worth the effort. And the asking price leaves room for a renovation budget. The house comprises of two parts, and is half stone-built and half cave dwelling. The stone-built part is in reasonably good condition, while the cave needs to be restored urgently. Or you could decide to just renovate the stone part of the house and leave the cave for what it is. That would allow you to economise on your renovation budget, or to spread the costs over a longer period of time.

The large amount of land that comes with the house is very useable and if you would like to have some horses, that would be no problem at all here. There is irrigation water passing the property, and mains water and electricity are closeby. The property is very private and yet the village of Galera is not far away. Granada and its international airport are an hour and 15 minutes' drive away. Galera has a typically roman layout with its neat square blocks of houses. The area is famous for its many cave dwellings, and has been inhabited since many ages.

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