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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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€ 75,000 - Land in Colmenar

Ref: 557
Built: 0 m² Bedrooms: 0 Electricity: Yes
Terrace: 0 m² Bathrooms: 0 Water: Yes
Land: 1,500 m² Pool: No Phone: No

A unique chance you build your new country villa in the countryside near Colmenar. In this small development, we have a number of plots available, all for the same price. Plot sizes vary from 1,500 to 2,066 square metres, all with incredible views.

The plots themselves are classified as urban land, which means that you can pretty much build what you want. The same rules apply as in the villages and towns. Built size of your new home is limited only to 10 percent of the plot size. Within that limit, you can have as many bedrooms as you like. You can also have an upper floor, and a swimming pool. And because this is urban land, you can easily get a mortgage of up to 80 percent loan to value.

Under the current law, the construction of new houses in the countryside of Andalucia is only permitted in this kind of small developments. This particular one is in a protected zone, meaning that there won't be any other houses being built outside this development. So you will have neighbours here, but it is still very rural.

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