Tuesday, December 30, 2008

Costa del sol properties retaining their value

People looking for property in Spain have been advised there may be bargains on offer in the Spanish region of Costa del Sol by an industry expert.

Despite Spain has been badly affected by the credit crunch, local estate agent James Stewart told the Financial Times that the impact of the country's economic slowdown has not been uniform. He explained that there are also bargains available On the other hand luxurious properties are still holding up, even without the asking price being discounted.

Desmond O'Connor, head of Alanda Homes, has told that there is now "real value for money" in Costa del Sol, with up to 20 per cent knocked off housing prices, reports the Times. Property market in the area continue to perform well despite the current economic climate and holiday villas are still going for up to and over €9 million (£7.15 million).

In addition, Costa del Sol is well-placed to benefit from a push by Europeans to holiday closer to home as a way of reducing costs as Figures from the Costa del Sol Hoteliers Association show that 30.2 per cent of those who visited the Spanish resort last month hailed from the UK.

In related news, the Financial Times has reported that property investors on the Costa del Sol may be happy to know that the top end property market in the area is "relatively strong".

Monday, December 29, 2008

Spain attracts Russian investors

Russians are investing heavily in overseas property and looking for prestigious properties in Spain to buy as a long term investment, according to a media outlet.

Bolt Property Group has revealed that the increase in the number of inquiries from Russians for Spain has catapulted this year. Despites the value of houses all over the world dropping by huge percentages due to global credit crunch, Russian buyers seems to be attracted by Spanish properties.

The Global Edge has stated that Spain is proving to be an attractive option for Russian buyers because of its sun, sea and good quality of life. The organization was surprised due to the fact that there is nothing in common between the two nations and they are geographically far apart. They revealed that nearly 15% of online searches made by prospective Russian buyers looked for Spain. Global Edge also found that Eastern Europe is one of the main hotspots for Russian buyers.

Conti Financial Services stated that Russian investors and Brits are going to Spain as it offers bargain properties. Prices in Spain began to readjust due to the high level of tourism demand as well as demand among would-be second home or retirement property owners.

Sunday, December 21, 2008

Expats praise Spanish natural attractions and hospitality

Spain's natural attractions and hospitality has been praised by two British expatriates and have spoken positively about their relocation to Spain.

Kerry and Pete Pipkin moved to Valencia, Spain in 2007. The couple, speaking to the Sun, said that they had enjoyed a "brilliant" life since they moved from a terraced house in Buckinghamshire, UK and in their area to a 500-year-old house set in a tiny village of only 14 properties. They said that there is virtually no crime, noise or pollution in their area.

Kerry said that the way of life in Valencia reminds him UK of 1950. He added that night sky is breathtaking, no stress, no crime, wonderful fresh food, local wine - at ten Euros for ten liters - friendly neighbors . Kerry commented: "We are so glad that we ended up here as the people, climate and wildlife are fantastic." However, she added that the way of life was not for people who dislike creepy crawlies, as the couple are used to seeing beetles and centipedes. Other wildlife in the area includes vultures, bats and golden eagles

The publication also highlighted about the temperatures in Valencia which was cool enough for people to feel comfortable exploring the region, while still remaining "delightfully warm". Other attractions were also flagged up by the newspaper, such as its nightlife and shopping facilities.

In related news, The Bupa International survey found that expats in Spain reported the highest levels of improved health compared to those in other countries.

Thursday, December 18, 2008

Real value for money in Mallorca and the Balearic Islands

Property in Mallorca Spain

The Spanish islands of Mallorca and the Balearics offers for those wishing to buy property abroad a variety of bargains, experts have claimed.

According to Nick Stuart, managing director of Spanish Hot Properties has said that investors can buy things considerably cheaper as there are opportunities all over the region and real value for money with quality properties and price cut by up to 30 per cent. The government of Mallorca's strict planning laws controlled the over-supply of housing stocks and it has helped keep Mallorca the premier place to buy in Spain.

This means that property values in these places are now within the reach of more people.

Experts have suggested that Foreign buyers should take advantage of the current lull in the market and snap up a home while it is at a bargain price as If they buy into a crashing Mallorca today, chances are that they will be buying into a location that will boom again because the process is cyclical.

Prices on the island have fallen by around 30 per cent in the last year, with one and two-bedroom flats available for £150,000-£200,000. Mr. Stuart cited recent sales such as a townhouse in Santa Ponca which was valued at 380,000 euros (£339,903), but sold in the market for 270,000 euros.

Wednesday, December 17, 2008

Sheffield 'migration rate to Spain is higher

The northern city of Sheffield has found as one of the top areas of would-be expats, who want to migrate to Spain , according to a meadia outlet.

According to the Sheffield Telegraph, research from the Emigration Group revealed Spain as the most popular international destination and more people migrating there than UK particularly the city of Sheffield has high migration rate in the last eight months. The publication added that nearly 10,000 enquiries have been received. Paul Arthur, director of the Emigration Group has said that they have received a huge volume of enquiries from Sheffield this year, 208 enquires in the last eight months which is ery high compared to the average enquiry rate of 78.

Alliance and Leicester survey showed that better weather was ranked as the top reason to move abroad by British expats in a recent survey. Nearly half of the respondents said that better weather has improved their lives abroad, with 56 per cent saying that they enjoyed a higher quality of life. High proportions of expats are from Sheffield and Manchester.

Recently, Minister for Europe Caroline Flint MP visited Madrid to meet with groups and charities helping British expats living in Spain to address the issues such as the falling pound, the range of problems expats can face when purchasing property in Spain and healthcare concerns.

Friday, December 12, 2008

Regulations for holiday homes in Valencia announced

New regulations have been announced last week for the investors who own and rent out their properties in the Valencia region of Spain.
Valencia region in Spain
Angelica Such, the Valencian Region's Minister of Tourism, has presented draft regulations for holiday homeowners to register them with the tourist authorities and the rules would apply to anyone who rents out their home on a short-term or long- term basis. Tourist authorities believe that this will enable better control of holiday lettings by the department of tourism, and improve the quality of service.

Commenting on the new regulations, Angelica Such said, "The fundamental to establish strict regulations is to provide our tourists with holiday accommodation that is as regulated as possible." She added that the regulations would address the issues and discontent in the tourism business. She believes that the new regulations would cut down tax evasion, as many rental investors do not declare the rental income.

Spanish Property Insight has reported that the draft regulations yet to be passed into law by the regional parliament, still in initial stages will also introduce a new category of ‘aparthotels’, offering 24-hour reception services.

Sunday, December 7, 2008

Barcelona packed with cut-price bargains

The Spanish city of Barcelona is one of the most desirable destinations for overseas property investors, it has been claimed.

According to the Times, international buyers could find some "promising deals" with buy-one-get-one free properties, multiple bargains and 20 per cent discounts. This means that foreign property buyers could find now a good time to snap up a residence and there is now "real value for money" in Barcelona, with up to 20 per cent knocked off housing prices.

Director of the Lucas Fox estate agency Alex Vaughan commented: "buyers could find some 'tempting deals'. Now you can buy things considerably cheaper if you get to know the market a bit". Shelter Offshore has suggested that foreign buyers should take advantage of the current lull in the market and grab a home while it is at a bargain price so that chances are that they will be buying into a location that will boom again and boom again soon.

The launch of a new cross-country high-speed rail service from Madrid to Barcelona is a significant improvement to the national transport network and would also have an impact on places along the route, as it means that the two cities will be easily accessible from these locations. Moreover, they could be more desirable to prospective property buyers, including foreign investors.

This comes after the news that Barcelona was found to be the most romantic city in the world in a poll by Teletext.

Thursday, December 4, 2008

Airline reports bookings are up 43 percent to Spain

Monarch Airlines, which flies to holiday destinations such as Spain has announced a rise in the number of bookings for summer 2009, according to reports.

The news from the no-frills airline Monarch Airlines has stated that bookings for summer 2009 are up by 43 per cent. Liz Savage, managing director of Monarch's scheduled services, commented: "We have been overwhelmed by how well it has been received with flights almost fully booked and people are taking advantage of low prices and organising their holidays earlier than usual."

Earlier, a Research by the carrier showed that during 2007, 69 per cent of passengers transported abroad by Monarch Airlines are overseas property owners and they owned a residence in countries such as Spain and Cyprus. Monarch has also released details of an online poll that showed that 17 per cent of people flying overseas wanted to own a foreign property at some later date.

Mr.Louise Hall, business director of Primelocation.com has said that the expansion of low-cost airlines in Spain has had a positive effect on the nation's property market and tourists now have frequent access to new parts of Spain and many have bought properties there.

Meanwhile, according to the institute of international tourism in Spain (FRONTUR), tourism has increased by three per cent since 2007 and 41.5 million visitors have flocked to the country till August 2008.

Monday, December 1, 2008

Expat praises medical care in Spain is first-class

People from the UK are increasingly moving to Spain in order to improve their quality of life as it has "excellent" healthcare system, the Sun reports.

Freelance journalist Paul Allen moved to Spain with his wife in 2003 said that while many people focus on a life in the sun, Those hoping to retire abroad in Italy should take care to organise pensions, healthcare and inheritance, among other important issues such as basic knowledge of the native tongue, learning as much as they can about Italian business etiquette or how to cope in a medical emergency.

He told the newspaper that the postnatal care his wife received after the birth of their first daughter as she had suffered a life-threatening allergic reaction to baby formula but the care she received had been "excellent".

Meanwhile, Research by the Academy of Healthy Ageing showed that Male life expectancy in Spain is 70, while their female counterparts were estimated to reach an average age of 75.3.

This comes after the news that Propertywire.com reported that warm weather and spas in the Costa del Sol are the excellent way to recover from the stress and strain felt by Brits.

Spanish villa for only £25 in Costa blanca

Prospective expats hoping to move to Spain have been offered a once in lifetime chance to win a three-bedroom villa on the Costa Blanca for only £25.

According to the Shields Gazette, Alan and Marilyn Betts, in a small town of South Shields, are offering the chance to get away from the present economic crisis. Would be expats can enter their competition by purchasing a £25 a ticket, and have a chance to win a more relaxed lifestyle in their £500,000 Spanish home.

Mrs Betts said that they have bought the villa which was built on the outskirts of the beautiful Spanish town of Catral on the Costa Blanca in 2003. They are both keen motorcyclists and after 38 years of marriage, they have decided to downsize to a smaller property in the same area, so that they can enjoy their hobby of motorcycling to the full whilst as they are still fit enough to ride.

The Draw will be held on the on 6th June 2009 at a location to be announced before the Public and The Media soon. The value of the property including all the extras is approx. £500'000. The villa will be left entirely furnished for the lucky winner, All they need is to take their clothes.

Meanwhile, Mike Hamilton, of Lorca-based property developer Casas de Lorca, told propertywire.com that overseas investors are still attracted to Spanish properties despite current market state.