Latest Tinsa property prices.

May 9, 2012 – 1:03 pm

Latest Tinsa property prices for Tenerife and Spain

Spanish property prices fell again in April, according to TINSA. The firm’s latest report saw that IMIE General Index of real estate values declined by 12.5 per cent last month, marking a cumulative drop of 29.8 per cent from, the market peak at the end of 2007.

The Mediterranean coast continues to record the biggest falls in year-on-year prices, with a decrease of 14.3 per cent in the area’s prices compared to 2011. This was closely followed by “Capitals and Major Cities” which fell by 13.7% compared to the same month last year. In both cases the decline was higher than the market average.

Below the market average were the “Balearic and Canary Islands” which fell by 12.3% year-on-year, followed by “Metropolitan Areas” with 12%; while the lowest declines were recorded by “Other Municipalities”, defined as those not included in the other segments, which recorded a fall of 10.6%.

In terms of cumulative declines from the top of the market by segment, the “Mediterranean Coast” was down by a total of 37% in April; followed by “Capitals and Major Cities” with 32.8%, Metropolitan Areas” with 30.7%, “Balearic and Canary Islands” with 26.9% and lastly “Other Municipalities” with 24.2%

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do | 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property buyers have pushed hard into the Spanish residential property market, as British and German buyers have withdrawn in the past half-decade.”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)

September Tinsa Index

October 19, 2011 – 2:00 pm

Average Spanish house prices fell 7.4pc over 12 months to September, according to the latest House Price Index from Tinsa – one of Spain’s leading appraisal companies.

Prices fell the most (-8.9pc) in capitals and large cities, followed by the Mediterranean coast (-8.2) where holiday homes are concentrated.

Peak to present, prices are down on average 24.1pc, and by 31.9pc on the coast.

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

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)

Tinsa price index

August 9, 2011 – 11:40 am

Prices for property in Spain fell by 6.6 per cent last month compared with June 2010, new figures have revealed.

The latest General IMIE (Spanish Property Market Index) report from valuation and consulting firm Tinsa also revealed a monthly decrease in house prices compared with May.

Overall, the largest drops were recorded on the Mediterranean coast, where values fell by 8.7 per cent over the previous year. Large cities saw a 7.3 per cent decline, while the Balearic and Canary Islands registered a seven per cent negative movement.

“As regards variations by areas, it should be highlighted that all of them showed greater year-on-year falls than in the previous month,” Tinsa said in its report.

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

Holiday rentals market on the up in Tenerife and Spain

July 25, 2011 – 10:44 am

Rental property prices on the increase in Tenerife and Spain

The market for holiday rental properties in Spain is on the up, it has been claimed, with more travellers heading to the Mediterranean for a break.

Chief executive officer of the Travel Rental Network Brian Schwimmer stated that rental values in Spain are on the increase, which could bode well for investors with property in the country.

He explained that many holiday home owners cut their prices dramatically in 2009 and 2010 in a bid to attract more UK tourists; however, a rising number of travellers from all over the world are now heading to Spain.

As a result, “prices are normalising once again, so people expecting the same discounts they saw last year might be in for a surprise,” Mr Schwimmer commented. Good news at last for those in Tenerife and the Canary Islands  with properties to let.

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

British still buying in Spain and the islands

June 10, 2011 – 8:47 am
  • Tenerife and Spain are  still  favourites  with British buyers.

    The price of free-market housing in Spain has dropped on average by 15.4% (more than 20% in real terms and as much as 24% in some provinces).

  • In municipalities with more than 25,000 inhabitants there has been an average 25% decrease, while in certain coastal towns the drop has been even greater. Such is the case in Marbella (40%), Torrevieja (31%) and Ibiza (29%), for example.
  • In 2010, property purchases by foreign residents in Spain increased by 20.8% over 2009.
  • In 2010, the British accounted for 23.4% of all property purchased by foreign residents in Spain.
  • In 2010, 491,000 property sales were recorded, 6% more than in the previous year and the first increase after three years of downturns; 60% of sales were in the Mediterranean coastal regions and in Madrid.
  • The number of empty housing units stands at less than 700,000 units in 2010; 61% of these are concentrated in the Spanish coastal regions.
  • The volume of finished housing has fallen by 60% in 2010 compared to the peak year of 2007, while newly constructed approved housing has fallen by 90% in 2010 from its 2006 high.
  • At present, the construction of subsidised housing (VPO) accounts for 50% of all new housing. As a result this type of housing now accounts for 11% of all residential real estate in Spain.
  • 1/3 of Spain’s more than 25 million houses are holiday homes.

    • Certainly in Tenerife and the Canary Islands the housing market is showing signs of improvement once more and their are good quality prime property bargains to be had at present.

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

    Launch of new ferry service from the UK to Spain

    March 29, 2011 – 12:53 pm

    New ferry proviodes more choice to Spain from the UK

    This Sunday sees the launch of cross-Channel ferry company Brittany Ferries’ second service from the UK to Spain. The company will offer twice-weekly services from Portsmouth to the scenic city of Bilbao on the Franco-Spanish border.

    Brittany’s continuing expansion into Spain reflects the continuing demand from British tourists for holidays in the popular Mediterranean nation, which despite the economic downturn shows no signs of ceasing. The company found that particularly due to the constant disruptions in European air travel last year, more people are turning to the ferry as their method of choice to get to their Spanish holiday home.

    “As the number of air travellers from the UK to Spain have declined, we’ve witnessed a surge in demand for direct UK Spain crossings”, said passenger commercial director Mike Bevens. “Bilbao has forged a reputation as a destination in its own right in recent years.”

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

    Tinsa price index latest results

    March 23, 2011 – 9:41 am

    Tinsa index now shows positive signs for the property market in Tenerife

    The Tinsa Spanish House Price Index for February (change over 12 months) is  as follows:

    National average -4.5pc
    Big cities – 5.2pc
    Mediterranean Coast -6.7pc
    The Balearics & Canaries -0.8pc

    Peak-to-present:

    Mediterranean Coast -27.2pc
    Capitals -20.6pc
    The Balearics & Canaries -17.5pc

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

    EU citizens helped by Cross-Border Healthcare Directive

    March 21, 2011 – 10:03 am

    Eu directive may help Brits who travel to Tenerife and Spain.

    For second home owners regularly travelling to their property in Europe, obtaining insurance to ensure you’re covered for any accidents that could occur abroad is at best an annoyance, at worst a hefty extra cost. Luckily, if you’re a citizen of the EU or UK travelling to another country within the Eurozone, all that is about to change.

    By 2013, all EU citizens will be able to claim back for medical treatments they receive in other European countries, with or without travel insurance. The new Cross-Border Healthcare Directive, ratified in Brussels last month by all Eurozone states, will benefit both short-term travellers encountering those pesky ski accidents, and retirees who divide their time between, say, the UK and a second home in the Mediterranean.

    For the latter category, healthcare has been a particular problem previously. As well as not qualifying for free healthcare in the EU, British citizens who spend more than 184 days a year abroad are also discounted from receiving NHS treatments. The new law should simplify the process for this expat category, ensuring they can receive medical care whether they spend the majority of time in France, Spain, the Canary Islands, the UK or anywhere else in Europe.

    Despite the EU executive’s estimation that cross-border healthcare will only take up a mere 1% of total health spending, the new laws (which must be implemented by all states within 30 months) have met with some resistance in the UK. “The rules will turn the UK’s NHS into a bureacratic nightmare”, said UKIP leader Nigel Farage. There are also concerns that some countries may be late in doing their part to implement the laws, as Spain, particularly, has been slow to implement many health and insurance-related resolutions from the EU in recent years.

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