Wet weather sends Brits searching for the sun

May 14, 2012 – 8:06 am

Wet weather in the UK sends Brits to Tenerife and Spain

As summer approaches and the temperature rises abroad, demand for traditional holiday destinations is also beginning to hot up. With the wet weather in the UK, Brits have turned to search for overseas property in record numbers with properties in Spain attracting the greatest volume of searches. The latest Rightmove Overseas report shows that properties in Portugal were also high on Briton’s wish list, along with a range of other holiday hot spots, including Australia. But Spanish locations dominate the top 10 climbing regions. Shameem Golamy, head of Rightmove Overseas, said: “The main beneficiary of this increased search activity has again been the traditional Spanish destinations of Benidorm, Estepona, Tenerife and Torrevieja, as people look for properties in familiar locations. Albufeira and Carvoeiro in Portugal have also benefitted from extra searches, as has Sydney in Australia.” The report also reveals that more property investors are eyeing up property investment opportunities in Greece, Malta, Spain and Ireland, where prices have plummeted in recent years.  “The economic woes affecting parts of Europe has failed to deter buyers in the UK interested in overseas property. Germany, usually a favourite destination of UK investors, seems to be gradually losing interest. It seems that UK buyers are more inclined to look for warmer destinations as thoughts turn towards the summer.”

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

Brits getting ready to buy in Tenerife?

April 30, 2012 – 8:38 am

Brits sending money to Tenerife and Spain in order to buy property

Brits are getting ready to buy by transferring money abroad, according to Knight Frank. An increasing number of UK investors are sending money overseas to purchase a second home, the agency’s head of residential development James Price told OPP this week.

“The recession here in the UK is not really a factor,” he commented.
“People want to move at the higher end for tax reasons… this is a result more of the pull of both climate and culture, rather than any perceived ‘push’ from the UK.”

Price’s comments follows figures this week that show Brits are increasingly
looking abroad for holidays as the weather worsens in the UK. With prices
of property across Europe held down by the recession and the weakening
single currency, some may find themselves staying abroad for longer as they
seek out a place in the sun.

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

Increasing numbers of Scandinavians are taking advantage of the crisis to buy holiday homes in Spain

April 17, 2012 – 9:34 am

Scandanavian buyers of property are looking to Tenerife and Spain for investment

According to a recent article at the website Investment Europe, “Figures published by Fastighetsbyrån, part of Swedish banking group Swedbank, suggest Swedish and Norwegian property buyers have pushed hard into the Spanish residential property market, as British and German buyers have withdrawn in the past half-decade.”

The article goes onto explain that “over the four year period, the number of UK buyers has dropped by 65% and German buyers by 3%. However, the number of Norwegian buyers is up 108%, and Swedes by 138%. The total market is still down 33% from its 2007 peak, the figures also suggest.”

Scandinavians are tempted by Spanish property, their economies are relatively strong, as are their currencies (the Norwegian and Swedish Krone/Krona have both risen by around 5pc against the Euro since the Spanish property bubble burst at the end of 2007, whilst the British Pound has fallen almost 20pc); Spanish property prices on the coast are down around 50pc or more from the peak, and the sun doesn’t shine much back at home. So Scandinavian buyers are taking advantage of the market to snap up bargains on the Mediterranean coast, and who can blame them?

Scandinavian buyers are not a panacea for the glut of holiday homes on the coast. For a start, with the pick of the best properties, I doubt they will be tempted by  the cheaper end of the market on the coast that also needs to be sold.  Unfortunately, there just aren’t enough of them to take the place of the retreating Brits, who dominated the market during the boom.

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

Tow in three second home owners are considering selling their property

March 19, 2012 – 12:12 pm

2 out of 3 second home owners consider selling their property

Two in three (65%) second homeowners are considering or would like to sell their property, according to a new survey from holiday rentals company HomeAway. It revealed that almost 60% also confirmed that their property had taken a nose-dive in value since they purchased it and 37% were feeling the squeeze, saying it was a bigger financial burden of late.

The vast majority bought their properties in the last six years, following the boom in UK house prices in 2007 which resulted in a huge rise in equity that owners quickly put to good use buying a second home in the UK or abroad.

More than 90% of respondents stated they had property in Europe, with France and Spain unsurprisingly the top two countries.

Source: PropertyTalkLive.co.uk

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

Recovery expected in real estate markets in 2013

March 13, 2012 – 10:31 am

Standard and Poor's expect the real estate market to improve in Tenerife, Spain and Europe in 2013

The credit rating agency, Standard & Poor’s, believes that the European macroeconomic crisis will not extend beyond 2012, which will result in a “significant recovery” of European real estate markets in 2013.

“Standard & Poor’s Ratings Services believes that the macroeconomic crisis may not extend beyond 2012. We still expect a new recession in Europe, although we believe it will be mild, with a gradual return to growth thanks to the growing demand from emerging countries, the strength of demand in developed countries and the restoration of investor confidence,” said the company.

According to El Economista, the baseline scenario of S & P considers there will be a flat growth of the economies of the Eurozone as a whole, with growth of 0.5% in France and 0.6% in Germany, while in UK the gross domestic product (GDP) will grow by 0.5%.

Source: Kyero.com

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

Commercial property markets in Europe struggle

February 8, 2012 – 11:01 am

The commercial property market in Spain, Tenerife and Europe is struggling in the current economic climate.

Commercial property markets in Europe struggled to keep pace with other parts of the world, as the effects of the global financial crisis continued to impact on investment and occupier markets, it is claimed.

Rental predictions were in negative territory across much of Europe with the noticeable exception of Germany in the fourth quarter of 2011, according to the latest Global Commercial Property Survey from the Royal Institution of Chartered Surveyors.

The prospect of an extended period of minimal growth, if not a retreat back into outright recession, is clearly weighing heavily on the sector in the wake of the ongoing turmoil relating to the sovereign debt crisis, it points out.

Source: PropertyWire.com

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

High end Spanish property performing well

January 31, 2012 – 9:45 am

High end property in Tenerife and Spain performing well

Despite tough market conditions for property in Spain, one company has posted its most successful operational year to date in 2011, showing the appetite for high-end Spanish real estate has not waned.

2011 saw Lucas Fox doubling its staff, opening new offices and posting record-breaking third quarter profits of 19.5 Million euros, proof of the continued appeal of Spain among the cash rich. Among the most popular areas for investment were Barcelona, the Costa Brava and Mallorca where investors snapped up boutique and luxury pads.

Aimar Valls, Head of Commercial & Investment Property commented, “In the last year we have received a dramatic rise in both the quantity and quality of enquiries for commercial and investment property. Central Barcelona is a hot-spot for hotels, hotel projects and buildings with potential for tourist apartment rentals.

And the company is also optimistic about their fortunes in 2012. Director Alex Vaughan explains, “Our transaction pipeline is already looking strong and the outlook for the year is very encouraging. We start 2012 with over 5,000 active property buyers registered from Northern and Eastern Europe, Russia, Scandinavia, the Middle East, the U.S and China.”

Source: APlaceintheSun.com

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

Spain reclaims property crown

January 9, 2012 – 5:57 pm

Spain and Tenerife property in demand

Spain has reclaimed its property crown, according to the latest Top of the Props report from TheMoveChannel. Following America’s unexpected victory in November, US property fell in popularity last month, dropping three places in the overseas portal’s chart.

That dip was all Spain needed to soar back to top spot. Buyers seemed to flock to America to avoid Europe’s troubled markets, Spain, Portugal and France charged up the table, pushing America down to fourth. In total, the top three destinations accounted for just over a third of all enquiries on the site in December.

While US enquiries fell by 7.32 per cent, Spain’s popularity dropped by only 0.18 per cent. This steady level of attention, driven by low prices and the country’s reduction in VAT during 2011, reflects the continuing demand for Spanish property from lifestyle buyers.

This proves that holiday home demand can still buck the Eurozone’s downward trend if the prices are right.  Despite Spain’s return to form, investors are still willing to look elsewhere to avoid Europe’s more troubled economies.

Managing Director Dan Johnson comments: “As 2011 ends, the fluctuations in the Top 10 show the changing buyer demands in an uncertain market. Spain has always been a traditional choice for lifestyle buyers, as evidenced by the constant level of interest in the country. In fact, for the majority of last year, Spain was the most sought-after property destination on TheMoveChannel. so its return to the top spot seems an appropriate end to the year.

“Barbados and Morocco are equally attractive lifestyle choices that are free of Eurozone anxiety, but France and Portugal’s strong performance in December is a reassuring sign for more familiar property markets. As the New Year begins, we shall see if the popularity of these European countries will be strong enough to weather the economic climate in 2012.”

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

Spain’s property reign ended by America

December 12, 2011 – 10:22 am

US overtakes Spain in the property market

The reign of Spain has been ended by America, according to the latest Top of the Props report .

Spanish property used to be the favourite for buyers, with the sunny Costas attracting swarms of house hunters every year. But now there’s a new top dog as the US replaces Spain in the overseas property portal’s rankings, upsetting the market’s established order to become the most popular destination in November.

The US has long played second fiddle to both France and Spain for property buyers but in October, America leapfrogged France to become a surprise runner-up in TheMoveChannel’s chart. Now, an increase of 7.01 percent in enquiries has seen the US surge to number one, with foreclosed homes and bargain house prices eclipsing the opportunities available in Europe.

Spain could only stand and watch as enquiries fell by 2.38 per cent last month, despite its half-price VAT reduction on new homes until the end of the year. France, on the other hand, remained firm in third place, attracting exactly the same number of enquiries in November and October, demonstrating the country’s consistent appeal to investors.

Managing Director Dan Johnson comments: “After climbing three places in as many months, the US continues to attract more and more overseas investors. Florida remains a popular lifestyle choice and with US houses the most affordable they have been in 15 years, the troubled Eurozone just can’t compete with the low price of American real estate. It’s no coincidence that the US is the only country to rise above the four familiar European markets.

As Spain’s reign ends, America’s dominance begins. Indeed, while the industry speculates about the impact of the Euro upon the rest of the world, North America’s rise to first place is exactly the kind of stimulant the US housing market needs

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

Retail investment up

November 8, 2011 – 10:46 am

European retail investment up

European retail real estate investment is up 38% quarter on quarter to €6.7 billion with demand for prime retail to remain relatively strong during the last quarter of the year, according to a new report.

The third quarter report from Jones Lang LaSalle says that 2011 year end volumes are likely to exceed €28 billion, up by 35% on last year and significantly above the €12.3 billion recorded in 2009.

It reports that retail real estate investment remained strong throughout the summer, despite the volatile European recovery and economic headwinds that continued to face the sector. Direct investment in retail real estate in Europe during the third quarter of 2011 reached €6.7 billion, up from €4.9 billion in the second quarter of 2011 and significantly up on the €3.8 billion transacted in the third quarter of 2010.

Total investment volumes for the year to date now stand at €20.4 billion, up by 45% over the same period last year, almost on a par with total 2010 volumes and far exceeding full year volumes of €12.3 billion in 2009.

Source: Property Wire

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