Spanish villas still popular with investors

April 2, 2012 – 1:13 pm

Villas in Tenerife and Spain still popular with overseas investors

Buyers from the UK are continuing to look towards Spain for possible investments in the property market abroad.

This is according to Rightmove Overseas, which has reported that properties such as villas in Spain are the most popular with those searching the web.

In fact, the country accounted for more than one-fifth (22 per cent) of searches made on the portal over the past month and head of Rightmove Overseas Shameen Golamy said: “Despite nervousness around the Spanish economy in recent weeks, property buyers are undeterred.”

During the month under analysis, 51.45 per cent of locations witnessed a climb in interest, with Spanish destinations Fuertuventura, Valencia, Benalmadena and Torrevieja all seeing a jump in searches of more than 20 per cent.

Website ipsbm.com has reported villas in Spain and Portugal are continuing to prove popular with property buyers despite uncertainty in the eurozone, claiming most people prefer what is familiar and so are looking towards locations such as the Costas and the Algarve.

Source: Rightmove Overseas

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Property searches overseas increase

March 21, 2012 – 2:20 pm

Search for property in Tenerife and Spain increases

People are increasingly searching for property overseas with the latest Rightmove report showing that 51.45% of locations saw an increase in March. It also found that 48.49% of locations saw a decrease in property searches and 0.06% saw no change.

Interest in Australian property remains strong but old favourite Spain dominates the search report with 22% of all searches.

‘Following new year’s surge of interest in overseas property, strong demand continues with 2.8 million searches performed on site for a second month in a row,’ said Shameem Golamy, head of Rightmove Overseas.

Source:  NUWireInvestor.com

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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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Interest in foreign property purchase booming again says Moneycorp

April 1, 2011 – 9:56 am

Interest in purchasing Tenerife and Spanish property on the rise

Interest in foreign property purchases is once agan booming amongst British buyers, with  Rightmove and foreign exchange specialists MoneyCorp both reporting a large surge in enquiries. Real estate enquiries rose by 53 percent in February  Rightmove reports, with Spain retaining its popularity as a second home destination despite its much publicised housing collapse.

Certainly this increase in purchasing  is being seen in Tenerife and the bargains which exist at all levels, even in the prime property sector are now being snapped up by savvy purchasers

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Upbeat prediction on housing supply in Spain

March 4, 2011 – 1:16 pm

Good news on Spain and Tenerife's housing supply.

The Spanish housing market has reached an important milestone with official sources predicting that any remaining oversupply will be absorbed this year.

Following an improved 2010, the total property transactions increased by over 6.8%, substantially helped by some of the excellent opportunities in the market.

Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011. With more property being sold than built, the outlook for Spain’s property market is looking increasingly positive.

Rob Wilson, head of overseas at Rightmove confirms that the country is growing in popularity. Rightmove experienced an annual increase in searches for Spanish real estate, an increase of over 8%. It is also the number one destination for UK investors. “I don’t see any signs of Spain losing its number one slot for Brits looking to buy abroad,” Mr Wilson stated.

Source: Select Property

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Interest in buying property in Spain and Canary Isles is increasing

June 19, 2010 – 12:03 pm

Interest in buying property in Spain and the Canary Isles is increasing with more people searching for Spanish real estate in May, according to the latest index from Rightmove. Overall 58% of locations saw an increase in property searches, 42% saw a decrease and 0.2% experienced no change.

Half of the top time climbers in May were in Spain and its Islands There was also interest in South Africa but this is put down to curiosity generated by the World Cup football tournament rather than an increase in serious buyers. June is expected to see even more interest as football fever continues.

Interest in property in Tenerife and Spain increasing once more

Interest in property in Tenerife and Spain increasing once more

‘May was a great result for Spain, fed by returning confidence among buyers as the bad memories and headlines of last year fade. It’s always hard to let go of what your property was worth at the peak of  the market and accept times have changed, but vendors also seem more open and have much improved realism about prices necessary to make transactions happen,’ said Robin Wilson, Head of Overseas at Rightmove.

‘The improving Euro exchange rate is definitely playing a part, up 10% on January this year and 20% on January last year, meaning buyer’s budgets can go further,’ he added.

Moneycorp, one of the UK’s leading foreign exchange specialists, has also seen a rise in enquiries for Spanish properties, which amounted to an increase of 11.8% between March and May.

‘Throughout May, sterling gained good ground against a weak Euro. Having started the month at €1.14, the rate eventually reached €1.18 towards the end of the month. The pound has benefitted from economic data which continues to support the view that the UK recovery is gaining traction,’ said David Kerns, Head of Private Clients at Moneycorp.

‘In contrast, the Euro has continued to weaken, following news that Spain’s AAA credit rating had been downgraded. It was sent even lower when the European Central Bank warned that Euro zone banks faced writing off another €195 billion of bad loans. The increase in the Sterling/Euro exchange rate would have made properties within the Euro zone an increasingly more attractive prospect for Euro buyers, and explains the surge in interest.

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Britons missing out on £101million each year on international money transfers

May 28, 2010 – 8:22 pm

Poor bank rates and high charges for foreign exchange transactions mean individuals need to be savvier when transferring money overseas. Research by Moneycorp reveals that Brits are potentially losing over £101m a year by not shopping around for the best deals when transferring money abroad. Furthermore, uncompetitive exchange rates and high bank charges are costing individuals a lot of money, despite a concerted effort by most to reduce their outgoings on luxury and even staple items.

Britons missing out on cash when they transfer money to and from Tenerife

Britons missing out on cash when they transfer money to and from Tenerife

David Kerns, Head of Personal Clients at Moneycorp, comments: “While many individuals are visiting comparison websites more frequently, checking voucher code sites and consulting online consumer forums before purchasing goods in order to save money, this mindset doesn’t seem to have extended to foreign exchange. As a result, individuals are missing out on a very large sum of money they could be saving, by transferring funds
overseas through a foreign exchange specialist rather than a bank. Not surprisingly, high street banks are cashing in as a result of this surprisingly apathetic approach.”

People buying or selling property overseas and people emigrating or repatriating will be particularly affected, though this issue will affect all Brits who are transferring money overseas. People who own additional properties abroad and make regular mortgage and/or utilities payments will also be badly affected, as every transfer is open to individual transfer charges, in addition to exchange rates.

Data from the UK’s number one property website, Rightmove Overseas, reveals that the average house price in the Costa del Sol in Spain is currently €369,860.68. With a deposit of 10% , using a high street bank rather than Moneycorp would cost an individual, on average, an extra  £558 on their deposit alone.

An individual who wants to transfer a lump sum of £100,000 to an account in Europe would lose out on an average of 1,690 by using their bank for the transfer into euros.

David Kerns concludes: “Despite the UK coming out of recession recently, individuals shouldn’t be lining the pockets of their bank managers and it’s in their best interest to maximise their investments. Prior to making any overseas payments, we always advocate that people shop around to get the best rates possible.

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