Holiday lettings market set to become more popular, research suggests

December 16, 2011 – 11:09 am

Interest in purchasing property to let in Tenerife and Spain returns

The financial benefits of investing in a holiday home are becoming increasingly apparent as more British people are considering investing in this area, according to a new report.

The holiday lets marketplace could be set to spike again over the next five to ten years as a quarter of Britons are considering investing in a holiday home according to the Holiday Lettings’ Insights Report.

Of those who would invest in overseas property, more than half, 59%, said that with prices currently low, the long term capital gain opportunities were appealing.

Some 25% of those surveyed said that they would consider investing in a holiday home in order to supplement their income. The report also reveals that Holiday Lettings’ customers, holiday home owners with properties worldwide, are thought to have earned an estimated £540 million this year.

Estate agents in Tenerife and Spain are noticing an upturn in enquiries for holiday property

Source: PropertyCommunity.com

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, 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)

Spanish rental property still tops

December 9, 2011 – 10:36 am

Spanish rental property still tops with the British

Overseas property buyers can get an idea of where they are likely to find a good rental market for their holiday home from a new survey that reveals Spain has been the top destination of 2011.

The quarter three Marketplace Report from holiday rentals specialists HomeAway also shows that there has been an increase in the rentals market in Thailand and Dubai.

More British people than ever opted for Spain as their top summer destination. In terms of the number of booking enquiries for breaks in the third quarter of the year Malaga Province and Majorca claimed first and second place, followed by Ibiza in sixth place.

There was also a clear preference towards short haul destinations with nine out of the top ten destinations for summer 2011 holidays being either in the UK, or within a three hour flight distance.

Source: PropertyCommunity.com

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

Spanish land registry info available in English

November 15, 2011 – 10:58 am

Spanish Land Registry information now available in English

Spain could be exacerbating its property market’s problems by making Land Registry information available in English, according to an overseas property lawyer.

Peter Esders, solicitor at Chebsey & Co., told OPP in a letter that more information being made available online in English leaves him “anticipating problems. I am worried about the fact that more information is being given in English online at the Land Registry,” he said.

“Unscrupulous sellers will tell buyers that they don’t need a lawyer because there are land registry searches available in English and they can supply a notary at the end.”

Source: OPP

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

More expats planning to stay abroad

October 27, 2011 – 2:24 pm

In February, Lloyds TBS International released a survey that suggested 67 per cent of expats had no plans to return to Britain – compared to just 56 per cent when the same survey was conducted six months before.

Now, research by the company has revealed that even more people (69 per cent) are planning to stay abroad permanently, with 15 per cent saying they have cancelled plans to return in just the past year.

A combination of improved financial prospects and the belief that quality of life is higher overseas seemed to be the main motivation behind expats’ decision to stay. Despite the financial hardship that many expats, particularly those in Europe, have suffered due to adverse currency fluctuations since the beginning of the economic crisis, 64 per cent said they were still financially better-off abroad, with only a quarter saying that the cost of living was higher.

Nearly three-quarters (74 per cent) per cent said their quality of life was higher, with 51 per cent agreeing that their new home was a better place to bring up children. Many expats also felt safer abroad, with just 13 per cent saying that their neighbourhoods in Britain had been less dangerous.

Source: Telegraph.co.uk

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

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

By Angela | Posted in Economy, General, Health, Holiday, Inspirational, Miscellaneous Articles, 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)

Shop around for your foreign currency when buying property abroad

August 11, 2011 – 5:29 pm

Take care when exchanging currency to purchase property in Tenerife and overseas

Independent analysis on the European property market found that average foreign property buyer spending £125,000 on their overseas home would receive €131,547 from a high street bank. However using a specialist foreign currency provider could result in an improved rate of €139,033 – a massive €7,486 difference equivalent to around £6,600, according to GSA.

The highest return on a £125,000 transfer was €139,650 offered by Currencies.co.uk, while the lowest was €131,062.50 offered by HSBC.

Just 10% of foreign currency transactions are made using a foreign currency provider, who can offer around 5.6% more than the High Street as they use commercial exchange rates to determine the value.

Savills International Research on second homes found that around 130,000 overseas properties were purchased by Britons between 2005 and 2009, potentially wasting millions as a result of poor exchange rates.

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

Brits considering luxury property in Tenerife and Spain again

August 10, 2011 – 5:36 pm

Luxury and prime property is selling well again in Tenerife and Spain.

Britons seeking their own slice of heaven abroad are increasingly considering luxury Spanish properties.

Experts say the sun-drenched country is once again proving popular with overseas property hunters, but they are now adopting a more cautious approach than that seen during the Spanish housing boom prior to the global economic downturn.

Buyers are seeking out investment properties that meet their precise requirements, and that has generally meant properties with a more luxurious feel. In Tenerife,  prime coastal properties are selling well.

The trend appears to be backed up by a report from the Overseas Guide Company which reveals a rise in the number of requests it has received for information about the Spanish property market.

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

Investors in Tenerife and Spain benefit from more rental opportunities

July 19, 2011 – 12:26 pm

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

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