Sterling high good news for Brits buying property in Tenerife and eurozone.

Sterling high against the Euro a boost for property buyers in Tenerife and Spain

There was good news for Brits seeking to buy property in the eurozone as sterling reached a 15-month high against the euro currency. The euro’s value depreciated against the UK pound on the back of fresh concerns regarding the the health of the eurozone’s banking system.

Sterling increased by 0.73% to €1.208 on Wednesday  its highest level since September 2010. The euro also fell 0.95% against the dollar to $1.293. Despite concerns about the fragile state of the UK economy, it is generally considered to be doing better than the Eurozone, which is struggling with a major debt crisis.

Geoffrey Yu, currency strategist at UBS, told Reuters: “Maybe the UK is approaching a consensus (for a recession) but it’s not there yet. And there’s no break-up risk, so people are more willing to allocate funding from a passive perspective at the start of the year.”

However, despite the recent recovery in the strength of the pound versus the euro, some currency experts do not expect sterling’s value to increase much further in the short- to medium-term.

Spain remains top retirement hotspot

Spain and Tenerife remain top of the props

For those of you thinking of retiring abroad or relocating in 2012, Standard Life has released its latest retirement hotspots research which shows that Spain is the number one retirement destinations in the world as far as Brits are concerned. Spain is followed by Australia, USA, France and Ireland.

But while retiring abroad is a dream for many people, it does require careful planning and advice, according to John Lawson, head of pension policy at Standard Life.

He said: “Many people think living abroad is cheaper than living in the UK, but this isn’t always the case. Doing your homework in advance of moving, matching your retirement income and expenditure, and making the appropriate decisions around purchasing an annuity or using income drawdown are key considerations. Your retirement income could also be subject to exchange rates and currency fluctuations, as well as local tax laws.”

Russians buying more property than the British in Spain

Russians buying more property in Spain, particularly in Tenerife, the Canary Islands and Alicante,

Russians have taken over from the British as the biggest buyers of holiday homes in Alicante province, at least for one month this summer.

The majority of homes sold in Alicante this August were bought by Russians, reports the Spanish press.

The information comes from Jesualdo Ros, head of the regional developers’ trade body, who also said that Brits have fallen behind Scandinavian, Dutch and Belgian buyers.

Russians are said to be buying on some of the most up market developments, as well as some of the cheapest.

With a glut of 18,000 new homes to sell in Alicante, the Russians are being welcomed with open arms. Certainly we are seeing a similar rise in property purchases in Tenerife and the Canary Islands from Russians too.

All time record visits to Spain in August

Record numbers of visitors to Spain and Tenerife during August

In August this year 7.64 million foreign tourists visited Spain, an all-time record for the country.

According to reports from FRONTUR, August saw a 9.4 per cent increase in the number of tourists from 2010, indicating a new monthly high for the booming Spanish tourism industry.

Since the beginning of 2011, 40 million tourists have visited Spain, a 7.8 per cent increase over the same period last year. The Ministry of Industry which produces the tourist movement survey suggests that August visitor figures ‘reinforces the good prospects of Spain in 2011′ highlighted by the fourth best year in the history of Spanish tourism, a great achievement considering the economic recovery only began back in the second half of 2010.

Further data indicates that while Brits are one of the most regular and indeed loyal visitors to Spanish shores standing at 9.5 million, there has been impressive increases in numbers of other foreign visitors, with a rise in American, German and talian visitors. By destination, Catalonia was the largest recipient of foreign tourists receiving 1.9 million visitors in August, while the Balearic Islands followed closely behind with 1.8 million.

Ignacio Osle, Sales & Marketing Manager of Taylor Wimpey España, comments, “Despite difficult economic conditions across mainland Europe, Spain is one of the most resilient holiday destinations, remaining popular with foreigners whatever the market conditions. Recently, the IMF stated that Spain will be the only country that will experience higher levels of growth next year compared to its European counterparts of France, Italy and Greece.”

The rising number of overseas visitors continues to spell good news for the property industry. Osle adds: “Mallorca is one such destination that has performed better on the property front than its mainland counterparts offering strong rental market potential.”

British buyers head property sales in Spain

Brits ahead in race for prime property in Tenerife and Spain

Bargain hunting Brits have shot to the top of the property buyers’ league in Spain after years trailing behind Scandinavians and Russians in the race to secure “the best deals for a decade”. 

There are more British buyers than Spanish nationals on some prime developments in favourite areas like Costa del Sol, Costa Blanca, Tenerife and Mallorca, as they cash in on the “buyers market” scenario of lowest prices, lowest interest rates, lowest taxes and highest loan to value deals – up to 107% of the asking price. 

Source: Property in Spain

Investors in Tenerife and Spain benefit from more rental opportunities

Rental opportunities in Tenerife increase

Investors interested in property in Spain could benefit from more rental opportunities as more Brits choose to holiday in Europe. 

According to a new study by Abta – The Travel Association, bookings to Spain have increased by 11 per cent compared to last year, showing that the destination is becoming more popular with holidaymakers.

Short breaks are also seeing more people travelling into the country, especially to Madrid, as economies around the world recover and capital has been freed up to boost overseas stays.

“During the recession, luxury holidays were substantially affected, but have now experienced a healthy comeback,” Abta said in a statement.

Source: International Business Times

Upbeat prediction on housing supply in Spain

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

Spain and the Canary Isles still the Brits favourite place to buy a home

Spain is still tops for Britons buying homes abroad

Spain is the perennial favourite for Britons looking to buy a home abroad, confirms the latest survey by Channel 4’s A Place in the Sun.

The ranking for 2011 goes as follows (2010 in brackets):

1. Spain (1)
2. France (3)                    
3. Portugal (4)
4. Italy (6)
5. Florida (2)
6. Turkey (5)
7. Greece (8)
8. Cyprus (7)
9. Malta (new entry)
10. Egypt (new entry)

Here is what they had to say about Spain, Tenerife and the Canary Islands:

Once again, Spain remains the most popular destination for Brits to buy abroad and therefore tops our chart of the best places to buy abroad in 2011. After all, it has all the right ingredients – excellent access from the UK, sun, sea, culture and infrastructure. With repossessed properties and distressed sales hitting the market, the home of the Costas, Balearic and Canary Islands still has some great deals for the diligent buyer. Huge discounts on holiday homes mean there’s a multitude of destinations and property options on offer.

As we have been saying for a while now, this really is a great time to buy in Tenerife. In fact it is a great time to buy throughout Spain and its islands.  Check out the latest deals with your estate agent, particularly the discounts available  on prime property in Tenerife.

Overseas flights up as Brits attempt to escape the cold

More Brits moving to Tenerife to escape the cold weather?

Holiday firms have reported a leap in bookings for overseas holidays as people attempt to escape further bad weather in the UK.  Holiday firm Travel Counsellors reported a 20 per cent increase in bookings, with a large rise in the number of people opting for a break after Christmas and into January. Travel Counsellors said that more people were opting for 10-11 night breaks rather than the traditional two weeks. Online travel company lowcostholidays.com also said its website traffic was up 60 per cent since the first snow fell. Lowcostholidays.com said top searches on its site were for holidays to the Canary Islands, Dubai and Thailand. 

Hotels.com communications director Alison Couper said: ‘With the cold weather predicted to stay,  it’s evident holidaymakers want to get as far afield as possible.’ The news comes as forecasters warned that another arctic blast will bring more snow and bitterly cold temperatures to the UK this winter.  The worst-hit areas have been the north-east Scotland and eastern England.

Hopefully on arriving in Tenerife and seeing what it has to offer, some of the visitors will look to buy second homes on the island.

Brits and Romanians keen to live elsewhere.

Brits and Romanians looking to live in Spain and Tenerife

You may wonder what Brits and Romanians have in common – according to new research, these two nationalities are the most likely to leave home behind and begin a new life elsewhere. Despite the UK being a popular end destination with migrants from all over the world, one in three of us would love to emigrate abroad permanently, new research has revealed.

Research firm Gallup has found that British people share the top slot with Romanians in terms of being the keenest to move away from their homeland and set up a new life elsewhere. The poll questioned people living in EU countries about their contentment with their home countries and their desire to try living somewhere else.

Despite beliefs to the contrary, the economic downturn has not had a big impact on people’s desire to move away from Blighty – the same level – 33 per cent – say that they were just as keen to begin a new life elsewhere before the credit crunch set in.

This trend is similar to what Gallup observes worldwide. With some exceptions, people’s expressed desire to migrate did not decrease meaningfully in the downturn. Instead, the main reasons people gave for wanting a new life away from their home turf were being dissatisfied with conditions in local communities. Many reported feeling discontent with the local infrastructure such as the quality of the local schools and their roads and highways. Disappointment in the government and police force were also named as factors.

The type of person looking to emigrate has not changed much over the last few years. The vast majority of people looking to emigrate were young professionals with relatively high levels of education, all of whom were dreaming of better career prospects and a better quality of life elsewhere.

Thirty-three per cent of those with secondary educations were keen to try life elsewhere, whilst 36 per cent of those with a degree say they would like to move if they had the chance. In terms of location, British people were most keen on Australia, the USA, Canada Spain and its islands.

But the research also found that us Brits appear to be all mouth and no trousers – despite the high levels of desire to want to move abroad, a tiny two per cent of us were actually considering doing so over the next year – a far lower proportion than in many other EU countries. If all of the people who expressed an interest in emigrating actually did so, the UK would be left with a severe skills shortage as its youngest, brightest and best educated hopes flew the nest to take their skills elsewhere.

Gallup’s findings show that the government needs to do more to improve the communities within the UK in order to make them a more appealing place to live and work over the coming years.