Brits taking advantage of weak Spanish property market

May 8, 2012 – 9:36 am

Brits taking advantage of cheaper property in Spain and Tenerife

The volume of Brits taking advantage of the weak Spanish property market by purchasing homes continues to grow, new research shows.

According to latest figures from the National Statistics Institute, the number of British residents in the Balearics has risen by 75 in the past year bringing the official total to 23,773 people. The average age of this British contingent is now 46.6 years old.

Stephen Dight, managing director of Mallorca, and Ibiza, Sotheby’s International Realty, says: “The Balearics are a much more aspirational destination and, with higher property prices and lower supply of quality homes than mainland, attract a wealthier expat. Fluctuations in exchange rates lessening pension income or small percentage falls in property values are unlikely to affect our British Balearic expats and be a tipping point to force an exodus  they are simply not living on tight budgets.”

The largest in the Balearic archipelago, the Island of Mallorca features a host of popular beaches, villages and marinas, fertile agricultural plains, 26 golf courses, an impressive capital city and imposing mountain ranges, which partly explains why it attracts over 10m tourists each year.

Meanwhile the Canary Islands, particularly Tenerife are experiencing a similar upturn of interest in the top end coastal properties.

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

Increase in demand for Spain’s holiday and accomodation

February 27, 2012 – 10:38 am

Rental properties in demand in Spain and Tenerife

An increase in the demand for holiday accommodation in Spain last year has resulted in more and more Spanish home owners preparing to rent their properties out this summer, providing a welcome boost to the property market.

According to a report from holiday home rentals website HomeAway, booking enquires for Spain in 2011 increased by 27% in comparison with 2010. As a result, a greater number of British and European buyers are acting now and purchasing a home in Spain with a view to capitalising on this growing rental demand.

Marc Pritchard, Sales and Marketing Manager of Spain’s leading house builder Taylor Wimpey España, says “The growth of the rental market has made Spain once again a popular destination for property buyers to invest in, particularly given the readjustment of property prices and abundance of cheap flights. We have seen an exceptionally strong start to 2012 with sales in January markedly up on the same period last year.

Mallorca is tipped to be a top performing Spanish destination seeing as it registered the highest number of overnight hotel stays in 2011, with 41.6 million, according to data from the National Statistics Institute. Tenerife is also expected to remain a firm favourite.

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | Tagged , , , , , , , , , , , , , , , , | Comments (2)

Crucial year for Spanish real estate

February 9, 2012 – 4:37 pm

Crucial year for property in Tenerife and Spain

Property prices in the prime locations of Barcelona remained resilient throughout 2011 but it remains possible to purchase properties at discounts of up to 30% on 2007 prices, according to market analysis for Q3 and Q4 2011 by estate agents Lucas Fox. Having analysed the property markets in Barcelona, Mallorca, Ibiza and Costa Brava property markets, the company predicts that foreign property investment will rise in 2012. Alex Vaughan, Director at Lucas Fox International, says that his firm is still receiving strong interest from buyers looking to buy homes in some parts of the country, many of whom are keen to take advantage of the discounted prices that are possible. But the picture is less positive in other regions of Spain, with agents in some parts of the country such as Murcia and Alicante reporting on large amounts of property stock on the market and a very low volume of transactions. “In these worse affected areas 2012 looks set to be another crucial year for sellers and agents alike,” said Vaughan. “There are, however some positive signs in the market as a whole. Last year the Spanish government lowered the purchase tax payable on new build property which stimulated transactions in the last quarter and the new PP Government have announced that this measure will be continued through 2012.” 

The signs for 2012 are positive with a much larger amount of enquiries from international buyers  than we normally experience at this time of year.” Many prospective buyers who have been observing the Spanish property market for the last few years have now decided that it is the right time to show their hand and start negotiating on their ideal property, according to Stijn Teeuwen, director of Lucas Fox International Properties. He said: “For those clients that get it right there are possibilities to buy prime properties in the best locations at major discounts on the prices that there were being sold at prior to 2007 / 2008.” Tom Maidment, director at Lucas Fox Costa Brava, added: “There are still plenty of opportunities to purchase well-located, quality properties at interesting prices

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Weather | 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

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All time record visits to Spain in August

October 3, 2011 – 1:52 pm

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.”

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

Real estate in the Canary Islands fairs better than mainland Spain

September 19, 2011 – 9:34 am

Tenerife and the Canary islands fairing better in the property stakes than mainland Spain

Real estate in  the Canary and Balearic Islands has experienced much lower price drops than in other parts of Spain, it has been noted.

Managing director of Spanish-Living Adrian Warriner pointed out that the two archipelagos – which include destinations such as Tenerife, Ibiza and Mallorca – have fared better than their mainland counterparts, recording just a 2.5 per cent fall in values over the last year.

“This is good if you already own a property there, but not so good if you are an investor looking for a bargain,” he stated.

Mr Warriner went on to suggest that those hoping to buy a home in Spain while the market is low may want to consider the Costa del Sol, which has seen average prices decline by more than ten per cent in the past 12 months.

Source: PropertyShowrooms

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

British buyers head property sales in Spain

September 13, 2011 – 12:04 pm

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

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Opportunities to purchase properties at low prices in Tenerife and Spain

September 6, 2011 – 8:23 am

Property bargains available in Spain, Tenerife and the islands

During the last three decades, hundreds of thousands of Britons have purchased property in Spain. Nonetheless, a surplus of villas and apartments has spawned due to mortgage defaults from British buyers. By noting the declining property prices during the month of June, according to valuation and consulting firm Tinsa’s latest General IMIE (Spanish Property Market Index) report, one can see the opportunity to purchase Spanish property at a low price. This is why British investors are continuing to invest in the Spanish real estate market.

Along the Mediterranean coast, the Balearic and Canary Island archipelagos are amongst the most popular tourist and investment attractions in Spain. The Balearic Islands feature Mallorca, Menorca, Ibiza, and Formentera. With its Opera House, Mallorca offers a stately and elegant experience, while King Juan Carlos’ castle sits in Palma. Menorca offers a drier climate than the aforementioned Mallorca, in addition to cool breezes. Menorca has also garnered fame for its production of leather goods and gin. Ibiza has recently improved its reputation from years past, and Formentera offers an intimate and secluded getaway.

The Mediterranean Coast offers numerous overseas investment opportunities.

From the bright lights of Benidorm to the opulence of Moraira and the resorts towns of Javea and Denia, the Costa Blanca offers a smorgasbord of options. The Costa Blanca is serviced by Alicante airport, now supplemented by inexpensive flights to Valencia on the northern Costa. This enhances tourists and property buyers’ access to the Spanish region during the year. The Costa features the Mediterranean highway, which runs alongside the coast for virtually the entire length of the Costa Blanca, enabling easy travel.

Tenerife and the Canary islands, firm favourites over the years with the British has property available at prices not heard of during the last five years. Maybe this is the time to bag that bargain?

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

Spanish property tours to visit England

September 11, 2009 – 4:05 pm
Spanish property exhibitions to visit England

Spanish property exhibitions to visit England

Taylor Woodrow will mark its 50th anniversary by touring England with a series of Spanish property exhibitions throughout September.

The exhibitions will offer people looking to buy property in Spain information on Spanish homes and locations, plus Spanish properties that have been reduced in price by up to 41 per cent, to reflect the recent slump in the Spain property market.

Victor Sague, Marketing Director of Taylor Woodrow de Espana, said, ” From talking with our estate agency partners in the UK, we expect there to be significant interest in these offers from both investors and second home hunters.”

Experts will be on hand to advice house hunters at each of the exhibitions, which will be held around England from Sunday 13-23 September.

There are many homes available in seaside and golfing locations throughout Mallorca, Costa Blanca, Gibraltar and Marbella,  Tenerife and the Canary Islands. A  high number of homes will be sold throughout the couple of weeks of exhibitions as it will provide house hunters one last chance to buy a quality home at a fantastic price. It really is now or never for people to take advantage of these top quality homes as these discounts will not be around for long.

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