Upbeat prediction on housing supply in Spain

March 4, 2011 – 1:16 pm

Good news on Spain and Tenerife's housing supply.

The Spanish housing market has reached an important milestone with official sources predicting that any remaining oversupply will be absorbed this year.

Following an improved 2010, the total property transactions increased by over 6.8%, substantially helped by some of the excellent opportunities in the market.

Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011. With more property being sold than built, the outlook for Spain’s property market is looking increasingly positive.

Rob Wilson, head of overseas at Rightmove confirms that the country is growing in popularity. Rightmove experienced an annual increase in searches for Spanish real estate, an increase of over 8%. It is also the number one destination for UK investors. “I don’t see any signs of Spain losing its number one slot for Brits looking to buy abroad,” Mr Wilson stated.

Source: Select Property

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , , , , | Comments (0)

Property enquiries to Tenerife and Canary Islands increase.

February 28, 2011 – 10:10 am

Interest in Tenerife and Canarian property continues to increase.

The number of searches for Spanish property in January this year was 37.05% higher than last year according to overseas property portal Homesgofast.

According to the portal the trend that has been noted since the Spanish property market imploded; namely the dominance of the Balearics and Canary Islands, not only continued in January but became even more pronounced. One third of all enquiries into Spanish properties were for those islands according to the portal.

“It’s interesting to see how Spain despite the bad press is still very attractive to overseas buyers considering retiring or buying a second home abroad,” said Nick Marr, director of the portal.

“The change towards the Canary and Balearic Islands may be a result of the bad press that the Spanish property market has received,” he continued. “People looking to get away from the UK winters still see Spain as a great place to holiday. The Canary Islands offer winter sun and a housing market that has not received the negative press that mainland Spain has endured.”

“House values in Spain are at an all time low and the increase searches may be a result of both buyers and sellers researching the market.”  According to the Association of British Travel Agents, Spain is still the number one holiday destination for Brits, with over 11 million British visitors gracing the shores every year.

Source: Homes Go Fast

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | Tagged , , , , , , , , , , , , , , | Comments (0)

British expats who live and work abroad are less likely to return to the UK

September 12, 2010 – 11:56 am

British expats enjoy Tenerife property when at work or play

British born expats who have worked and retired abroad are less likely to return to the UK with 71% believing that they made the right decision in retiring abroad, new research shows.

The experiences of over half or 58% of expat retirees have been better than expected and the vast majority, some 92% of them do not live in an established expat community, the third annual Nat West International Personal Banking Quality of Life report also shows. Despite a belief that a significant number of British retired expats are regretting their decision to retire abroad and are planning to return to the UK, retiring abroad is very much still a popular decision, says the report that was carried out in conjunction with the Centre for Future Studies. It incorporates expats’ real life perceptions and experiences and gauges their personal assessment, including satisfaction or dissatisfaction, with their circumstances abroad.

The study also shows that a quarter of all retired expats rate their quality of life as excellent and the majority, 67%, are happier now than they would have been in the UK. It also reveals that there are two types of British expats: those who have spent their working lives in the UK and have chosen to retire abroad, the so-called silver expats; and those who left the UK to work abroad and subsequently retired in the country in which they had been living. The latter are often referred to as ‘lifer expats’. Those expats who worked abroad before they retired seem happier with their decision to continue living abroad yet those who have had no work experience in their chosen retirement country are having doubts about their decision to remain abroad.

Overall, silver expats retire in Western Europe, principally in Spain, the Canary Islands, France and Portugal. The lifer expats are spread throughout the world, principally in Australia, New Zealand, Canada, South Africa and the US.

When it came to choosing locations, surprisingly, 92% do not live in an  established expat community. Of those that do, the majority, 56%, did not consider this to be a determining factor in their decision to locate where they did. This is interesting, particularly when taking into account that silver expats have had no experience of living in the country and are happy to throw themselves into the deep end of foreign life, the report says.  Perhaps that is why so many opt for the prime property available in Tenerife.

By Angela | Posted in Economy, Property, Tenerife | Tagged , , , , , , , , , , , | Comments (0)

Fewer holidaymakers taking to the sky this year.

August 22, 2010 – 4:40 pm
Less holidaymakers flying to Tenerife, the Canary Isles and Spain

Less holidaymakers flying to Tenerife, the Canary Isles and Spain

Substantially fewer holidaymakers have flown abroad this year than last, official figures have shown.

In the 12 months to June the number of visits abroad by British residents fell by 12 per cent from 63.3 million to 56.0 million – a drop of 7.3 million on the same period in the year before.

The figures from the Office for National Statistics are the latest data to indicate consumers and businesses are still being very cautious about spending money on travelling abroad.

The biggest drop came from businessmen cancelling trips or deciding to stay at home, with business trips falling by 19 per cent.  Holiday visits decreased by 12 per cent to 36.9 million. This shows once again how important it is to market your rental property in Tenerife in a professional manner, using a reliable agent and most important, at the right price point.

Earlier this week, both Thomas Cook and Tui, the two biggest tour operators in the country, said they were experiencing a very difficult summer. Thomas Cook admitted it had been forced to cut the price of holidays between May and July and its still had 160,000 unsold summer holidays.

Last month, The Daily Telegraph reported how camping in Britain had officially overtaken bed and breakfasts in popularity, as millions of families opt for the cheaper option of sleeping under canvas, with more than five million camping trips undertaken last year.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , | Comments (0)

Economic woes drive overseas property interest

August 14, 2010 – 5:35 pm
Economic woes prompt property searches in Tenerife and Spain

Economic woes prompt property searches in Tenerife and Spain

The Capital Gains Tax hike and the start of the summer holiday season have had no real impact on interest in international property.

According to the latest Primelocation International Search Index, total searches for overseas property were down 7% in June but up by 138% on the same period last year.

The website therefore claims that financial pressures in the UK haven’t dampened interest, adding that other research indicates that one-third of international property searchers are looking to relocate abroad permanently.

The UK’s uncertain economic outlook could therefore be acting as spur for international househunters, particularly as many Britons are now facing more years in the workplace before retirement.

“The data, taken in conjunction with the results of the MyHomeLife panel research, indicates the increasing diversity of the international property market, encompassing investment buyers, relocators, semi-permanent movers as well as traditional second-home owners.While transactions have not yet recovered fully to return to their pre-crash levels, with finance and buyer caution remaining an issue in many cases, this broad range of different buyers is undoubtedly an important factor in explaining the current stability of the international property market.”

The Financial Times has reported that in June, Eurozone mortgage borrowing increased at it fastest pace in almost two years, indicating that confidence in property markets across the EU’s 16 member countries is returning.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , , , , | Comments (0)

How to avoid foreign exchange pitfalls.

August 7, 2010 – 10:08 am
Avoid fees when exchanging money in Tenerife, Spain or the Canary Islands

Avoid fees when exchanging money in Tenerife, Spain or the Canary Islands

Families going abroad this summer are being warned that they could lose hundreds of pounds exchanging their money at the airport bureau de change.

Currency prices can be up to 9% more expensive at Gatwick, Heathrow and Stansted compared with other foreign exchange outlets, a survey has revealed. This means a family changing £1000 for a European holiday are £104 worse off buying euros at the last minute, rather than ordering in advance from a specialist firm which can find the best available rate. The company surveyed exchange rates for euros and dollars at bureaux de change at Gatwick, Heathrow and Stansted airports and also checked high street deals on offer at the Post Office and Marks & Spencer.

Over 14 million Britons went on holiday abroad between July and September 2009. If half of these travellers exchanged just £500 spending money at an airport bureau de change before going on holiday to Europe, they could be saying goodbye to £493 million pounds.

Specialist providers apart, the best exchange rate for buying euros was at The Post Office Phil McHugh, senior foreign exchange dealer said: “Our survey highlights the big difference in currency exchange rates offered between the high street, airport bureaux de change and specialist providers.

“People often plan their foreign holidays well in advance, shop around for the best deals and book early to save money, yet they seem to leave their common sense at the airport drop off when it comes to changing holiday cash.

“Travellers should take a few minutes to check exchange rates online or over the phone in advance of their holiday and arrange with a foreign exchange specialist for their money to be delivered to their home or work, saving themselves time, hassle and cash in the process.”

Tips for those coming to Tenerife regarding currency exchange include,  think ahead about your currency needs and avoid changing your money at bureaux de change, particularly at airports. Shop around for the best rate – don’t just automatically go to your bank or post office. Specialist providers can offer much better deals. Beware of hidden charges and high commission rates. A good headline rate does not necessarly mean the best value for money.  Avoid poor exchange rates by taking travellers cheques or currency cards with you instead of using credit or debit cards for large purchases. Travellers cheques or currency cards can also help avoid the hefty fees banks and credit card companies charge for using ATMs overseas.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , | Comments (0)

Tenerife, Canaries and mainland Spain appealing to Russians

August 4, 2010 – 1:42 pm

Spain, Tenerife and the Canary Isles, have  not lost their appeal with affluent Russian buyers, finds a new study. Along with Bulgaria, Turkey, The US and Israel, SpainRussian's finding property in Tenerife, the Canary Islands and Spain to their liking. is one of the most popular overseas destinations amongst affluent Russian house-hunters, according to a study by real estate agents  and mortgage brokers Lowel.

Russians buying in Spain spend between 50,000 and 150,000 Euros on flats, and 300,000 plus Euros on Villas. At the very top end, Russians in Spain have some of the biggest budgets of all, often in the multi-million Euro bracket.

Nevertheless, Russian demand is feeling the pinch of the economic crisis this year. Russians are expected to spend 9.3 billion Euros – 10% less than last year  on property abroad.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , , , , , , , , , , , | Comments (0)

Buying property abroad back on the agenda for Brits.

July 18, 2010 – 1:12 pm
Buying overseas property bank on the agenda for Brits

Buying overseas property bank on the agenda for Brits

A new report has illustrated just how disallusioned we are with ol’ Blighty – a third of all those considering buying property abroad are looking to emigrate permanently.

According to Primelocation International’s MyHomeLife Panel, 33 per cent of people looking to buy an overseas property are hoping to make their purchase into a more permanent home by emigrating to the new country.

Forget holiday homes – these buyers are looking for a forever home, far away from Britain. The main motivator behind their search was found to be this desire to build a better life elsewhere, revealed the research.

The trend outlined is particularly remarkable given that overall interest in international property is at record levels.

Just 23.7 per cent of respondents were on the hunt for a holiday home and a mere 12.4 per cent were searching for an investment property. A further 15.3 per cent of respondents were foreign buyers looking to purchase a UK property.

Ann Wright, International Development Manager at Primelocation International, said, “With the government warning of a period of austerity following the emergency budget, it is understandable that more people than usual would dream of emigrating away from the UK. However the fact that a significant proportion are actively searching for international property in a bid to make that dream a reality, comes as quite a surprise.

“Furthermore, the fact that barely one-fifth of those searching for international property agreed that the difficult economic climate has affected their intention to buy abroad suggests that poor financial prospects for the future are a driving factor behind Brits’ desire to emigrate. “With many in Britain now set to have to work longer before retirement, those who can afford to move abroad may feel they will not only have a better quality of life, but also benefit financially from leaving the UK. These potential buyers may well offer a small boost to international market activity over the coming months,”

So keen are people to make their new life a reality that, despite the uncertain economic outlook, barely one-fifth of respondents their intention to buy abroad had been affected by this. Just 9.8 per cent of people said that they were ‘having to be realistic’ and ‘search for property in locations that they would not otherwise consider, due to affordability constraints.’

If you are one of the hoards hoping to kiss goodbye to Britain for good, check out properties for sale all over the island of Tenerife

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized, Weather | Tagged , , , , , , , , , | Comments (1)

Move to Tenerife for a better quality of life

May 2, 2010 – 11:11 am

Moving to Tenerife may improve the quality of your life

Moving to Tenerife may improve the quality of your life

According to research by NatWest International, a good life/work balance under-girds the sentiment, with 87% of respondents rating their personal balance in these areas as excellent or good. The annual survey, which is undertaken with the Centre for Future Studies, asks expats to assess 16 “life experience” factors in order of importance and to indicate levels of satisfaction with each one. Nine out of ten British expatriates say moving overseas has given them a better quality of life.

For Britons abroad, financial security and financial wellbeing occupied sixth and eighth place respectively, with the natural environment, climate, culture and leisure, healthcare and education taking priority. In addition, the number of respondents who said they would return to the UK fell to 19% in 2009, from 26% a year earlier, despite the financial pressures of the global economic downturn.

Natwest International’s head of personal banking, Dave Isley, comments, “The fact fewer expats say they will return to the UK in the future, compared to three years ago, proves that the pace of life, work life balance and earning potential abroad means life as an expat is sunnier in more ways than one – and that they are weathering the financial storm.” The study also revealed that professional expats typically earn over £20,000 more than their peers in the UK, with 92% reporting a salary increase over the past three years.

So moving to Tenerife or one of  the Canary Islands may be the best decision you ever make.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , | Comments (0)

New trends in property purchase to aid Tenerife?

October 18, 2009 – 12:42 pm
banksspain

New trends in holidays may mean that property purchase in Tenerife can be a wise investment.

The holiday season may be over, but it appears that trips abroad this summer have inspired many of us to buy our own home overseas.

Conti, the overseas mortgage firm, report that they have just had their busiest month since the beginning of the year, with a 20% month-month surge in mortgage quotes issued during September. The value of mortgage applications submitted by the company to overseas lenders also rose to a year high.

As property prices fall across Europe, the chance of owning a holiday home abroad may never be better, and with rates at an historic low, it’s even more affordable for British buyers.

Clare Nessling, Conti’s Operations Director, says: “The ‘staycation’ trend may have reduced the number of  Britons holidaying abroad this summer, but many of those who did venture overseas have returned home with plans to buy their very own place in the sun.

“As the darker nights return and the all-too-short British summer comes to an end, it’s very easy to dream about sunnier climes. But it can be more than just a dream. Affordable prices, low interest rates, and a healthy appetite by overseas mortgage providers to lend, are all making it easier to buy property abroad. Easy access to the more traditional locations like Spain and the Canary Islands, together with good rental opportunities, are also contributing factors.”

According to Conti’s recent hot spots report, they have had 22% requests on property in Spain.  It seems that buyers are sticking to the locations they know and trust and shunning the more adventurous emerging markets like property in Bulgaria and property in Dubai.

Conti says that there’s a growing feeling of confidence amongst prospective buyers, and that savvy investors are more willing to explore overseas opportunities in their search for better potential returns on investment than they are achieving in the UK.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | Tagged , , , , , , , , , , , , , , , , , , , , , | Comments (0)