British buyers still love Spain and Tenerife

October 6, 2011 – 9:25 am

The Brits love affair with Tenerife and Spanish property continues

British buyers have long had a love affair with property in Spain but now it seems it is other overseas buyers who are helping the real estate market to recover.

Despite a downturn in the number of British buyers specialist Murcia estate agent, Mercers, has just experienced its best summer sales period for five years with buyers coming from Norway, Sweden, Spain, France, and Ireland.

Murcia is attracting a diverse international audience who are lured by four key factors, the Paramount branded Theme Park that is being built, golf, improved accessibility and, above all, price.

‘We know that Spain is far from being out of the woods in terms of its property crisis but you can’t generalise the nation as a whole. The region of Murcia is certainly poised in pole position for recovery. Price is the driving force that puts Murcia as the top searched for Spanish destination as confirmed by leading property portals,’ said Chris Mercer, director of Mazarron based Mercers.

Source: PropertyWire.com

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Expat children enjoy a better quality of life says survey

September 20, 2011 – 8:11 am

Expats children in tenerife have better quality of life. states survey

It has been revealed that expat children enjoy the good life and are likely to be benefiting from better education, higher safety levels and improved health and well-being as a result of their parents decision to live overseas. Expat parents report their children are more likely to be learning new languages (84%), playing more sports (47%) and spending more time with their family (53%) while on the whole, enjoying their new life abroad (85%). Living overseas appears to have a positive impact on the lifestyles of expat families; however, the UK fared less well among parents who had relocated. Overall the UK found itself bottom of the league table of the 14 countries that formed the survey sample of 30+ respondents at country-level. The UK is the worst performing country for both the childcare and the health and well-being categories when expat parents were asked to compare it to their home countries. In addition, it appears that the UK is also among the most expensive places to raise a child, ranking bottom (14th) for both the general costs of raising children and more specifically for the costs of childcare.

Expat children in the UK also appear to have the least active lifestyle since relocating. Only 24% of parents say their children spend more time outdoors since their move and expat parents in the UK are also least likely to say their children play more sport or spend less time watching TV, ranking last (14th) on each of these measures.

However, despite these relatively poor scores, 84% of parents reported that their children are enjoying their life in the UK, scoring the country 8th out of 14 in terms of how much children enjoy their life in their new country. This may relate to the fact that the UK scores top for expat entertainment in Expat Explorer’s Expat Experience 2010 report, which suggested that children can take advantage of many attractions and excursions which will help them settle in and enjoy life in their new country.

Belgium tops this year’s charts as the best location to raise children, thanks to the highly regarded childcare system and standard of education. 81% of expats based here agreed they had seen an improved standard of education in comparison to their home country while 68% thought the quality of childcare had improved. However, Belgium-based expat parents also benefit from some of the cheapest childcare, with (65%) now paying less for childcare than in their home country.

The rest of mainland Europe was not far behind Belgium’s lead, with Spain (2nd) France (3rd) and Germany (5th) all featuring within the top five of the Offshore Offspring league table. In contrast, the USA and UK hold the bottom spaces in the league table, ranking 13th and 14th respectively.

Safety of children improves with relocation. Of course the children who relocate to Tenerife have it all, sun, sea, British TV  and Playstations!

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

Spain still a frim favourite for property

September 7, 2011 – 10:55 am

Property in Spain and Tenerife still a favourite with buyers

The three most popular international real estate markets are still the old favourites – Spain, France and the USA, according to the latest Top of the Props report .

In troubled times, many investors return to the things they know best and that certainly seems to be the case with overseas property buyers, with the top 3 countries sharing nearly a third of all property searches on TheMoveChannel.com.

Director Dan Johnson said: “The Spanish market is awash with great deals at the moment as Spanish banks continue to try and shift property cheaply. This phenomenon is unlikely to change soon, as there is plenty of supply, while the failure of some banks in the recent stress tests, means they’ll be keener than ever to divest the repossessed stock from their balance sheets. 

“France is an altogether different market, with a much higher concentration of lifestyle buyers purchasing holiday homes because they love the country and want to spend time there – it’s not such a price-sensitive market, though buyers are still pushing for good deals.”

Other notable movers and shakers this month are Portugal, which moved above Italy in terms of popularity for the first time and Thailand, which jumped up 12 places to number 9 and moved into the top 10 for the first time.

Of course, the Canary Islands especially Tenerife has some real bargains at present, why not check out the local estate agents and grab a property at prices paid  years ago.

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

Spain still a top destination for holidaymakers

September 3, 2011 – 9:12 am
Spain remains one of the top destinations for holidaymakers around the
world, as tourist numbers and property enquiries both increased this
summer.
Figures released by the Frontier Tourist Movement reveal that Spain has
received 7.4 per cent more international tourists this year compared to the
same time in 2010, proving that the country’s beaches and culture are still
attracting visitors.
Around 32.3 million international tourists visited Spain between January
and July of this year, with July alone welcoming 7.5 million tourists. Up
to July 2011, Spanish airports received nearly 36.5 million passengers. The
busiest budget airline was Ryanair, which experienced a 25% increase in air
traffic to Spain.

Unsurprisingly, visitors from the UK led the way with 7.4 million
passengers (35.8 per cent), while Germany and Italy followed with 4.2m (20
per cent) and 2.2m (10.7 per cent).

The biggest rise to Spanish shores came from Swedish visitors (40.8 per
cent), who are purchasing an increasing amount of property in Spain. France
and the Netherlands also saw their number of tourists grow. Estate agent
Spanish Hot Properties comments: “Of all the tourists who chose to holiday
in the Costa del Sol, around 72% said they were attracted mainly by the
prospect of sun and sand which will come as no shock considering the
region’s exceptional climate.”

Spain continued to attract foreign interest in August too, Robin Brayne, Commercial Director of the overseas property portal, comments: “Once again, Spain is head and shoulders above the rest of Europe. People remain attracted by the country’s sunny coast and relaxed lifestyle, and further interest has been fuelled by the glut of repossessed & distressed properties being sold on by Spanish banks, offering homes at
superb value.”

Of course the Canary Islands, perticularly Tenerife remain popular for sales and purchase of propertyand holidays. As Spanish tourism soars this summer, the property market is looking increasingly sunny.

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

Tax rules reforms by UK treasury

August 13, 2011 – 10:22 am

New UK treasury rules affect property owners in Tenerife.

New UK treasury reforms could see retirees who live and own property abroad able to spend up to a third of their time back home each year without paying any tax.

The new laws, to be implemented in April 2012 if they are passed, wll allow British retirees living abroad to be back in the UK for 119 days of the year before they are liable for any local taxes. This will come as positive news for many expats who live and own properties in European destinations such as France or Spain, but still spend a significant part of the year back in the UK seeing friends and family or for medical issues.

Under current regulations, expat retirees are only able to spend up to 90 days in the UK per year before they are deemed ‘resident’ and charged tax. Not only will this number of days be extended in the new laws, it will also allow those who have been home for under 90 days in the last 2 tax years able to retrospectively ‘claim back’ their extra days – in other words, they will be able to spend 182 days total in the UK next year before they are charged tax.

Chief executive of tax and investment planning firm Blevins Franks, David Franks, said the reforms would be a welcome relief for both British expats living abroad, and foreigners who own property in the UK and spend significant time there. “The new rules are a major advance in providing certainty for individuals who have homes in the UK and visit there frequently, so we hope they will be implemented”, he said. “They are still at the draft stage at the moment, but they have been welcomed by tax practitioners and so we do not expect any major changes.”

Hopefully, those expats in Tenerife will  be able to take advantage of the new rules when necessary.

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

Spain comes out well for value in Post Office survey.

June 28, 2011 – 9:50 am

Spain is tops in value according to a Post Office survey.

It may come as a surprise to many considering its reputation as a playground for the rich and famous, but the cost of living on the glitziest isle of Spain’s Balearics has actually been found to be the lowest out of 12 popular European holiday destinations, according to a UK Post Office survey.

The Post Office’s Self Catering on a Shoe String Barometer 2011 compared data on the cost of basic supermarket items in popular holiday destinations such as the Algarve, Corfu and Brighton. While the average cost of a family shopping basket in the Cypriot capital of Limassol is a rather eye-watering £74.56, prices in glamorous Majorca are 80 percent cheaper, at £44.23.

The findings would come as no surprise to many local agents such as Ignacio Osle, sales director at Taylor Wimpey Espana, who insist that despite the island’s high-end reputation and its attractive summer calendar of yachting events drawing the super-rich, there are still plenty of affordable property buys to be found. “Mallorca, though recognised as a growing hub for the rich and famous, has plenty to offer in terms of affordable property”, says Osle. “It’s an investment goldmine with something for everyone.”

With prices currently on the low side due to the ongoing Spanish debt crisis, now could be the perfect time for buy to let investors to capitalise on this affordable holiday paradise, a convenient short-haul distance from major tourist markets such as the UK and France. Its excellent links from low-cost airlines – Ryanair flies twice daily to Palma from Stansted, while Easyjet is currently flying a whopping 8 times daily – also ensure getting there couldn’t be easier for the millions of Brits who have made Majorca the destination for their yearly summer sojourn.

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

British property buyers keen on Tenerife and Spain

June 23, 2011 – 12:24 pm

British overseas property buyers are becoming more interested in owning homes in nearby Europe than further away as transport costs increase, according to Rightmove Overseas.

The UK-based listings website’s search report for May showed an overall increase in searches for overseas property of 15.3% compared to April.

The top movers included Poland, which broke into the top 20 for the first time as searches increase by 248%. Elsewhere, the German region of Bavaria had 82% more searches month-on-month and 17 out of Italy’s 20 regions recorded increased user activity. In France, the Dordogne, Aquitaine and Limousin regions all received increases in enquiries, with 74%, 47% and 39% respectively.

Shaheem Golamy, head of Overseas at Rightmove, told OPP this week: “After the bank holidays in April, searches for overseas property increased by 15% in May as people settled back into their normal routine.”

Tenerife continues to remain extremely popular amongst holiday makers and prospective purchasers of second homes.

Source: OPP.org.uk

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Real estate sector in Europe has the potential to double in size over the next five years

May 27, 2011 – 8:49 am

The European listed real estate sector has the potential to double in size over the next five years, according to Fraser Hughes, head of research at the European Public Real Estate Association (EPRA).

The European listed real estate sector has the potential to double in size over the next five years, according to Fraser Hughes, head of research at the European Public Real Estate Association (EPRA).

The main drivers will be banks looking to offload distressed property assets held on their books and private investors turning to REIT structures to realise the value of their investments, Hughes told a seminar at the Realty 2011 trade fair in Brussels on Wednesday.

‘A number of opportunities are converging that have the potential to double the current EUR 300 bn market capitalisation of the European listed real estate sector over the next five years under a best-case scenario,’ he said.

Hughes made the comments during a seminar on European real estate investment trusts (REITs). He said Europe’s three largest economies: Germany, France and the UK, have the greatest potential to increase the size of their domestic listed real estate sectors by between EUR 10 to EUR 50 bn each, but there also interesting situations emerging in Italy, Turkey, Spain and Ireland.

With the  all year round warm and sunny climate, Tenerife and the Canary Islands  are well positioned to be part of any increased interest.

Source: PropertyEU.info

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

Spain receives 9million international tourists in first three months of the year

May 12, 2011 – 10:10 am

Spain received 9 million international tourists in the first three months of the year, according to figures drawn up by the Ministry of Industry, Tourism and Trade and published by the Frontur opinion poll.

This represents an increase of 2.9% over the same period last year. This increase is nearly ten times higher than the 0.3% registered in the first quarter of 2010. Particularly noticeable, were the increases in tourists from the Netherlands (22.3%), Belgium (20%), Switzerland (14.8%), Scandinavia (11.7%) and Italy (10.9%).

However, the UK remained Spain’s number one market, with 1.8 million tourists (albeit a decrease of 4.8% from 2010), followed by Germany with 1.47 million (3.7% less), and France with 1.2 million (2.7% more than last year).

In March, international tourist arrivals rose 0.6% to 3.5 million passengers, the Ministry said, recalling that last year’s Easter Week (Semana Santa) began in this month.

An increase in tourism usually spells greater interest in property purchase for second and holiday homes. Areas such as Tenerife are seeing a return of interest in the market as a result of such tourism

Source: Kyero

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Spanish government property roadshow to tempt European investors

April 28, 2011 – 8:53 am

Jose Blanco unveils plans for European property roadshow to tempt investors back to Spain and Tenerife

The Spanish government will embark on a Europe-wide roadshow to convince  investors to come back to the nation’s property market, starting off with a press conference on the latest industry developments next week in London.

Minister of Public Works Jose Blanco and Housing Secretary Beatriz Corredor will brief UK property investors and media on the latest legal reforms and pricing activity in the Spanish property market, at a conference to be held at the Spanish Embassy next Wednesday.

They will then follow on with a consumer roadshow which will begin in Britain and continue to the Netherlands, France, Germany, Sweden and Russia.

“The Road Show will highlight the strengths of our economy, transparency and legal certainty of our planning legislation”, said Blanco in Madrid last week. “It is a good time to carry out this pioneering initiative because the markets that have the potential to invest in second homes are recovering and we must revive the holiday housing market to speed up the digestion of stock.” 

The Spanish property market is already showing small signs of having begun this ‘digestion’, with a 6.8% overall rise in home sales last year – the first positive figure since its real estate bubble burst in 2007.

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