Jerez – Feeling None of the Strain in Spain

Aug. 6, 2008 - PRLog -- Every rule must have its exception and in terms of the Spanish real estate market that exception is Jerez.  Whilst much of Spain is feeling the heat of a major slowdown, this Andalucian city is sitting pretty, smugly languishing in the knowledge that its property prices are only going in one direction, and that’s up.  But how did Jerez earn the right to immunity?  Chris Mercer, Director of Jerez property specialists, Mercers, explains…

“When the Spanish property market started to falter in 2007 Jerez was in a very strong position,” says Chris, “according to figures from Spain’s leading property portal, Fotocasa, price per square metre in Jerez was 46% cheaper than the national Spanish average and a mammoth 77% cheaper than nearest-neighbouring city, Cádiz.  In spite of adverse market conditions, Jerez clearly had some catching up to do and the potential for capital growth was obvious thus keeping the local property market buoyant.  As we continue through 2008 the effects of a global economic downturn and less than favourable exchange rates are of course presenting various challenges, but, Mercers is experiencing a steady flow of buying activity from both overseas and domestic customers.  With a thriving rental market and undervalued prices, Jerez is still very much a shrewd mid- to long-term investment proposition.”

Most famous for being the spiritual home of flamenco, the birthplace of sherry and centre for Andalucian dancing horses, Jerez has many more aces up its sleeve for a dynamic future.  The international airport at Jerez, already served by daily Ryanair flights from the UK, is being improved to include a new runway, enlarged terminal building plus more parking and is expected to serve four million passengers annually by 2012 (up from 1.4 million in 2006).  Crucially, Jerez Airport will also become the only Spanish airport, with the exception of Barcelona, to have its own AVE (bullet train) station.  This AVE will bring Seville, currently a 45 minute drive or hour’s train journey, within reach of Jerez in just 20 minutes opening up the genuine possibility for Sevillanos to commute from a lower priced, less congested city.

Jerez’s historic quarter, the ‘Casco Histórico’, is the most coveted part of town, a walled medina characterized by cobbled streets, lively tapas bars and the elegant palaces of the sherry dynasties.  With a finite supply of property and strict planning controls to include build height and the preservation of façades and ancient doorways, demand will always be strong and prices always appreciate.  In short you would be hard-pushed to lose money in Jerez.  With affordable entry level prices and a clear exit strategy selling to commuting Sevillanos, Madrileños or international clients keen on a holiday home, retirees who want an authentic Spanish experience within 15 minutes of the coast or taking the buy-to-let route renting to visitors to the city (hotel occupancy is as high as 85% all year round), Jerez’s property market is the envy of Spain.

Off-Plan on the Market
Plaza Mirabal 3 – A bijou project of just eight apartments situated in a peaceful tucked-away plaza in Jerez’s Casco Histórico.  Set on the footprint of a grand palace, Plaza Mirabal has retained the ancient façade and the finished article will look like it has belonged there for centuries whilst offering the best of 21st century qualities.  The one and two bedroom apartments benefit from double glazing, pre-installation of air-conditioning, electronic entry system, traditional high ceilings, laminated wooden flooring in the living and sleeping areas, private patios and terraces and a rooftop solarium.  
Prices from 117,344 euros for a one bedroom apartment.
Payment terms are 15% deposit, 15% on contract and 70% upon completion scheduled for Spring 2009.

Resale on the Market
JER111 – A real opportunity to own a chapter in Jerez’s history, this apartment is located in a palace once owned by the Domecq family, true sherry aristocracy.  Within a coveted part of the ancient medina, this large 140m² two bedroom two bathroom apartment is loaded with impressive architectural details from intricate coving to ornate adornments around the arched windows.  With air-conditioning, high ceilings and superior grade marble flooring throughout, the west-facing lounge has French doors to two balconies and there is also a communal central courtyard patio and rooftop solarium.
Price 250,000 euros.

Contact Mercers on 00 34 956 329 572, UK Local Rate 0845 017 7805, email jerez@spanishproperty.co.uk or visit www.spanishproperty.co.uk.


-ends-

for further press information or photography please contact Sarah Drane
on sarah@purplecakefactory.com or call 00 34 607 564 726

# # #

Mercers - Jerez and Costa Calida based real estate company specialising in new build and resale proeprty in Spain