Saturday, March 28, 2009

Spanish government set to modernize tourism industry

The Spanish government has announced a multi-million euro cash injection in a bid to support the country's tourism sector.

According to typicallyspanish.com, loans totaling approximately 400 million euros have been assigned to the tourism sector, which has been passed on to companies operating within the industry to modernize their facilities. As these funds have already been spent, the Government has pledged to provide a further 600 million this year.

A tourism and industry ministry spokesman commented: "The granting...of the credit in such a short period of time is evidence that the modernization of tourism infrastructure is a key demand of the sector." According to Spain's deputy prime minister, Maria Teresa Fernandez, the cash injection is expected to boost the country's economy by improving facilities for those staying in holiday accommodation particularly the elderly European holidaymakers, which may interest people looking for a property in Spain. The tourist industry currently accounts for around 11 per cent of all Spain's GDP.

Earlier, Span's housing minister Beatriz Corredor has stated that economic and property sector recovery will begin in the second half of next year and the current slowdown was needed to alleviate the rapidly rising house prices, which had tripled in the ten years, according to Reuter reports.

In related news, Jose Luis Zoreda, vice-chairman of the Alliance for Tourism Excellence, called for "urgent measures" and "big financial injections" in order to help tourism industry.

Tuesday, March 24, 2009

Benidorm has constant party vibe in the air

There are many things to do in the Costa Blanca region of Benindorm, Spain, making it Britain's top holiday hotspot in a new poll.

According to the recent poll by the holiday group Thomson's, Benidorm scored a maximum five stars in customer feedback based on the atmosphere, the cost of food and drink, things to do, restaurants and nightlife and an overall rating. The results were compiled from thousands of customer reviews by travel company Thomson. Benidorm bagged top spot followed by Puerto San Miguel on Ibiza's north coast and the Turkish resort of Marmaris in third place.

A Thomson's spokesperson has stated that the town is becoming "more and more popular with Brits every year". There are already a high number of Britons living in Benidorm, with nearly one-fifth of the population in Benidorm being British or Irish. Benidorm's burgeoning popularity could be good news for people with property in Spain, especially in the Costa Blanca area. Town’s local officials welcomed the accolade as it is based on reviews by tourists who save up for months to go away every summer.

Benidorm is located about 45 kilometers from Alicante's international airport. The city is electrifying to visit in the summer, with a constant party vibe in the air. The beaches are covered with both British and Irish tourists in great numbers during the summer. The Playa de Poniente is a very popular tourist beach. Benidorm is the most popular resort in the Mediterranean with more than five million visitors every year.

Josefa Perez, the councilor in charge of the area's beaches, said that the new beach ordinance was drafted to ban access to beaches after midnight while tourists using the sea as a toilet may find themselves slapped with a 150 euro (£126) fine to "prevent the misuse of the beach and ensure that such a resource can continued to be enjoyed by everyone".

Monday, March 23, 2009

La Zagaleta, the luxury property has the slickest security operations in Spain

Bolt Property Group's homes, La Zagaleta, in Spain are operating in a niche sector of multi-million euro homes and attract highly discerning clients. This Luxury property is being fitted with high-end security measures, developed with intricate craftsmanship and the latest in home technology.

Developer Bolt Property Group's exclusive villas, La Zagaleta are located in southern Spain. It is a gated nature reserve occupying 900 hectares of wild Andalucian countryside 450 meters above sea level providing unbelievable views of the Mediterranean and Gibraltar for privileged residents. La Zagaleta pushes luxury to the limit, offering a unique country club lifestyle with Bradford Benz-designed 18-hole golf courses, personal fishing lakes, Spa, gymnasium and double height wood-paneled library, heliport and a surplus of on-site services from banking to catering.

La Zagaleta is accessed by two main gates, the north and the south, both of which are manned by 24 hours security personnel. Vehicles are stopped at the gates, their number plates captured on recognition cameras. Prior permission is mandatory for trades’ people, staff, from plumbers to nannies and gardeners to maids. Hadleigh Bolt proprietor of Bolt Property Group, comments "This serious commitment to security is a major pull factor for many of Bolt Property Group’s clients."

It therefore comes as little surprise that the resort collected Best Development Spain (five stars) and Best Golf Development Spain at 2008 European Property Awards.

Mr. Hadleigh commented: "Our whole team puts an incredible amount of effort into ensuring that Bolt Property Group's homes are beyond compare in the marketplace and these awards are testament to this collective desire to excel".

Monday, March 16, 2009

Falling property prices make 2009 a good time to invest in Spain

Falling property prices in Spain means that buyers are likely to find a bargain retirement or holiday home, it has been reported.

According to Reuters, prices in the country could drop by 30 percent making 2009 a good time to invest. Spain's College of Registrars found that during the final quarter of 2008 113,274 homes were bought and sold in the country. During the third quarter, 130,884 property transactions were completed and the drop was larger than the 8.6 per cent fall between the second and third quarters in 2008.

Data from the country's Housing Ministry shows the average price of property fell to 2,018.5 euros per sq m in the fourth quarter of 2008, compared with 2,085.5 euros a year earlier meaning buyers may be able to take advantage of the low prices associated with a drop in demand. Anyone looking for a property in Spain could find they can pick up a bargain, with over one million properties currently standing empty.

However, Mark Stucklin of Spanish Property Insight pointed out the continued desirability of properties in popular areas.

He commented: "Over ten years however, Spanish property values are still 215 per cent higher in Andalucia, 211 per cent in Murcia and 200 per cent in the Balearics". The areas of Sevilla, Cadiz and Valencia also saw prices "creeping up", with year-on-year rats of 3.4 per cent, three per cent and 0.9 per cent respectively.

Susana Suspenda, marketing and operations manager for Spanish Hot Properties said that foreign buyers could take full advantage of the forthcoming price increases by snapping up a residence while they are underpriced.

Saturday, March 14, 2009

Marbella prompting a high degree of interest from Brits

The Spanish resort of Marbella, on the Costa del Sol, continues to be a popular destination for expats and second home buyers looking for property in Spain, it has been claimed.

Buy Association claims Marbella "retains something of the exotic" making it popular with investors from all over the world particularly with Britons who's love affair with the Cosata Del Sol persists, with continued high numbers deciding to move here permanently. The top end property market in the area also is "relatively strong” and holiday villas are still going for up to and over €9 million (£7.15 million).

According to Julia Norton, sales director at Champneys Marbella said that rising prices in Marbella demonstrated its desirability, with the average cost of a home 28 per cent higher than 12 months ago, which she described as "remarkable despite the global property crisis". The continuing popularity of the Costa del Sol with foreign leisure travelers has significantly boosted the housing market and economy in the region.

Meanwhile, Data from the Immigration Permanent Observatory shows that property in Spain is becoming increasingly popular with a 12 .4 per cent increase in the number of foreigners with valid residency living in the nation noted between December 2007 and 2008.

Wednesday, March 11, 2009

Majorca hotel rated among world's best by Forbes traveler magazine


Foreign investment is sizzling along with the Spanish economy, and not surprisingly, Spanish hotel life is experiencing a resurrection, according to Forbes traveler magazine.

A team of independent travel writers has stated that Majorca has long been a popular destination for families looking for a dose of winter sun at reasonable prices, but the island also caters for the luxury end of the market, as they have rated La Residencia's as one of the best hotels in the world.

Forbes Traveler magazine said that the La Residencia complex that wends across 30 acres of olive and citrus groves retains a quiet, serene small-village feel with plenty of breezy open spaces. The comely young staffers ensure visitor's hands are never cocktail-free for long. Enrique Sarasola, the Spanish entrepreneur behind Room Mate has said that the best way to visit a city is to go to a friend’s house and let him or her advice you on the best place to go in town. This philosophy paved the way for the faux-host concept behind this hotel and it is surprisingly inexpensive

A recent study by the Co-op travel agency revealed that the price of holidays in Majorca would increase by an average of just 3.2 per cent in 2009, reports The Majorca Daily Bulletin, a local newspaper.

The newspaper rubbished the claims that the relative weakness of the pound against the euro would push prices up and added that the price increase in Majorca is the lowest rise of all the destinations included in the survey.

Recently, the Oscar-winning actress Gwyneth Paltrow traveled to Majorca to make her own TV programme about the culinary delights of the island as Majorca has long been renowned for its fabulous cuisine.

Tuesday, March 10, 2009

Jerez de la Frontera offers typically Spanish renovated properties

Jerez de la Frontera Apartments

The Jerez de la Frontera in the province of Andalusia has been hailed as a property hotspot and the city is attracting buyers those looking for "an exotic, lively city bolt-hole".

Jerez de la Frontera is in the province of Cadiz in the autonomous community of Andalusia in southwestern Spain. The city is popular for sherry and horses with a bit of flamenco to complete the full Andalucian experience. Budget flights have opened up the city to foreign tourism. The airport is only 6km away from the city centre and transfers can easily be reserved in advance.

The town dates back to Moorish times and it possesses an amiable old town, casco antiguo, with beautiful palm lined squares. The 11th century Moorish fortress and Alcazaba, the Sacristy of the Cathedral del Salvador attracts tourists from all over the world. The plans to build new leisure facilities in the town are already in place. The region offers both financial and lifestyle benefits to overseas buyers, such as its good climate and growing tourist market. As a result of the increased visitor numbers, prospective buyers are told that property values are going up.

Estate agent Chris Mercer Speaking to the Times highlighted the investment potential of renovated properties in the region, which are renovated sympathetically to include modern amenities. He added that strict planning regulations by the local officials meant that the properties stayed true to the Spanish character and that the renovated properties coming onto the market were "perfect" for overseas buyers.