Anyone who keeps an eye on property related news as we do might have spotted that the European Central Bank’s base rate was lowered to 0.25 per cent this month – the lowest in its 15-year history.

Lower base rates
Lower base rates
  You might think ‘how boring’ but have a think about the impact it will have on property buyers in Spain. In a nutshell, it will soon be cheaper for both businesses and property buyers to borrow money, as well as making it easier for banks to lend. Additionally the Euribor, the rate commonly used to calculate Spanish mortgage repayments, has dropped from 0.534 per cent to 0.506 per cent, the biggest one-day fall in two years.         The move by the ECB was decided at a meeting earlier this month in Frankfurt, in a bid to help stimulate the economic recovery in the euro zone. However, Spanish buyers are expected to hold their horses for the time being, according to economic experts. While foreign interest in properties in highly sought after areas like Marbella, which is already strong, is predicted to increase following the news. Of course Spanish banks are likely to remain cautious when lending money, but this is excellent news for potential customers who are set to benefit from low house prices and historically low interest rates. It is thought that the real estate market won’t see any significant changes until 2014; although this does suggest that the bottom of the market has been reached, and that prices are expected to slowly start rising towards the end of next year. So with this welcome news in mind, have a look at our properties to see if any take your fancy.