Spain heading for top spot as a tourist destination once more

November 3, 2011 – 3:16 pm

Spain top destination once more with Brits

Spain is heading for a return to tourism domination as the 2011 visitor figures soar towards a record 57 million, boosted by higher numbers of independent travellers staying in rented accommodation along their favourite Costas.

80% of tourists now book their own flights and accommodation. Average stay in owned apartments or rented villas is now 15 days , twice that of hotels, who have had record occupancy in 2011. Average stay rose two percent and more came people from the UK than any other country.

There are now 370,000 Brits living full-time officially in Spain, drawn by the California climate, cheap food and drink, fiesta lifestyle and above average life expectancy. 1,000s more are planning to join them after Britain came bottom in a survey to find the best place to live. The summer city riots have influenced 1,00s more to quit the UK.

A Lloyds TSB survey found 67% of Brits living in Spain “had no plans to return to Britain” and 74% claimed quality of life was better. The survey found 87% of Brits felt safer in Spain “which is a better place to bring up kids”.

Source: PropertyinSpain.net

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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

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Luxury property and prime real estate is bouncing back world wide

September 22, 2011 – 9:22 am

Luxury property in Tenerife and Spain on the rise again

International luxury real estate activity is bouncing back, according to a new report from property network Christie’s International Real Estate.

Over two-thirds of respondents to Christie’s State of the Market survey reported an increase in buyer activity for the first eight months of 2011.

And although 62.5% said that sellers are still unrealistic about pricing, the figure has fallen considerable since last year.

However chief executive Neil Palmer warned that lending challenges and a lack of quality housing in some areas is hamstringing further growth. Tenerife’s prime property is a prime example of the  way the sector is bouncing back.

Source: OPP.org.uk

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Spain’s high quality property in demand

March 18, 2011 – 3:09 pm

Quality property in Spain, Tenerife and the Islands is always in demand

The UK has London, France has Paris and now, it seems, Spain has its own elite property market that’s surging ahead of the rest of the country. Whilst recovery in the national property market after the 2008 collapse remains slow, the Balearic Islands of Ibiza, Majorca, Minorca and Formentera are a different story, with sales increasing by 14% in 2010 and expected to keep growing as tourism booms this year. 

A total of 10,860 homes were sold in the islands last year according to government statistics which, when compared to the 491,000 properties sold nationally, made up quite a large percentage of total sales figures in Spain. And that percentage is growing at speed – whilst home sales in the Spanish market as a whole only grew 5.9% from 2009′s numbers, sales in the Balearics were up 14.5% compared with figures for the previous year.

“Over the last 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily”, said Ignacio Osle, sales director of the nation’s largest homebuilder, Taylor Wimpey Espana. An enduringly popular tourist destination amongst Brits in particular, the Spanish Tourist Board estimates holiday visits from UK customers to the Balearics has grown 13% so far this year.

This trend is expected to continue into the peak summer season, as a result of both holidaymakers changing their destinations from Tunisia and Egypt to Spain and the Canary Isles, and last-minute holiday bookings for the Royal Wedding holiday period. UK-based tour operator Thomas Cook reported a 30 per cent surge in enquiries for Balearics packages over the April break, whilst charter airline Monarch has extended its services from the UK to Majorca to cope with growing demand.

Osle recommended Majorca particularly as a hotspot for property investment. With plans currently in the works to construct a Formula 1 track near the island’s transport hub of Palma, long-term tourism prospects look good, and continuing foreign interest has ensured prices retain their value compared to the rest of the Spanish market.  “The local property market remains buoyant, with foreign buyers keen to get a slice of island life by purchasing high quality, well located properties”, said Osle.

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“Happiness” is being an expat

March 17, 2011 – 2:31 pm

Expats are happy with life in Tenerife and Spain

The “Happiness Index” survey carried out by Post Office International Payments suggested that 70 per cent of expats regard themselves as very happy with their new life, although almost two thirds admit to feeling pressure on their personal finances. 60 per cent of those who responded said they feel a greater sense of community in their new country compared to the UK.

Using Survey Monkey, the Post Office questioned 710 Post Office International Payments customers with properties abroad, of whom 233 were expats living permanently abroad. The survey showed that people from London and the South East are the most likely to emigrate – 39 per cent of all expats questioned were from this region. The most popular countries for those surveyed to emigrate to were France, Spain and the Canary Islands.

Reasons given for leaving included searching for a better quality of life, finding a place to retire or gaining new “life experiences”. Sarah Munro from Post Office International Payments said: “Though the vast majority of people who relocated abroad are much happier in their adoptive countries, even just moving across the Channel can feel like worlds apart from your old life in the UK.”

Source: Telegraph Online

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Tenerife to cash in on latest survey?

October 12, 2009 – 4:26 pm
Tenerife could cash in on the latest gloomy British survey

Tenerife could cash in on the latest gloomy British survey

Britain is the worst place to live in Europe, according to a study.

Although Britons earn high incomes that money is cancelled out by long working hours, poor annual leave, rising food and fuel bills and a lack of sunshine. Britons have  the highest after-tax household income of £35,730-a-year, more than £10,000 above the European average.

But most of it goes on keeping a “roof over our heads, food on the table and our homes warm”, according to the uswitch.com European Quality of Life Index.

Ann Robinson of uSwitch.com, said: “There is more to good living than money – and this report shows why so many Brits are giving up on the UK and heading to France and Spain.”  Perhaps now is the time to think of renting out your Tenerife property or even selling via an estate agent as winter approaches in the UK and thoughts turn to sunshine!

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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.

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Bank repossessions in Spain and Tenerife

August 22, 2009 – 9:39 pm
Bank repossessions provide great bargains for those with cash in Tenerife

Bank repossessions provide great bargains for those with cash in Tenerife

There was an interesting  article this week in the Spanish daily ‘El Mundo’ about bank repossessions in Spain, and what the 10 biggest lenders are offering investors. It  pointed that Spain’s banks and savings banks – known as cajas – are now the country’s biggest real estate companies. “Nobody knows how many properties they own, not even the banks themselves,” one expert told El Mundo. Their stock of repossessions is growing fast, and is expected to keep on doing so. All thanks to foolish lending in the past.

Banks aren’t, or shouldn’t be, in the property business, so this is a big headache for them. To liquidate their growing stock of property banks start by classifying property as ‘A’ or ‘B’.

‘A’ is new build from developers who can’t repay their loans, good quality, in good condition, and easier to selld, in theory at least. This is reported to make up 70% of the stock the banks now hold. Banks are using their own property divisions – recently set up in most cases – and branch networks to sell this ‘A’ property, offering discounts and preferential financing terms.

‘B’ is made up of repossessions from home owners who can’t pay the mortgage. There are forecast to be 74,000 foreclosures this year, and banks already have 9 billion Euros of bad debts from private owners on books.

Once again if you have cash available then you can bag  great property bargains  in Spain and Tenerife.

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