Global Real Estate & Editors' Choice News from Propertyshowrooms.com

Purchasers can try Spanish property before they buy

Tue, 22 May 2012 00:00:00 GMT

People who want to buy real estate in Spain, but who are unsure about whether life in the country is for them, can rent a home for a few months to try before they buy.

Mallorca Sotheby's International Realty has recently set up a rental division to cater for this market, as well as to help existing property owners make money from their assets when they are not in Spain.

The firm also explained renting is a viable alternative to buying for those who do not have the necessary capital to make a purchase at present.

It is advisable to spend time living in the area in which people hope to buy a property to ensure they understand the local market.

Editor at A Place in the Sun magazine Liz Rowlinson recently asserted investors need to be "very precise" about why they are investing and have realistic expectations of both rental returns and capital value growth.

She added many areas around the world that are reliant on tourism have seen rents fall due to lower demand, and this is something purchasers need to bear in mind before committing to a transaction.

Broad appeal 'helps Mallorca's property market'

Thu, 17 May 2012 00:00:00 GMT

The real estate market in Mallorca has been supported by the wide range of people who own a home on the island.

According to managing director of Mallorca Sotheby's International Realty Stephen Dight, more than one in five of the residents here are expatriates.

However, it is not only Brits who have been attracted to the Balearic island location, with German, Scandinavian and Italian buyers among those to have purchased Spanish real estate in the archipelago.

"This nationality mix goes a long way to explaining the resilience of our property market in comparison to say the Costa del Sol," Mr Dight asserted.

Figures released earlier this month by Tinsa revealed the value of homes in the Canary and Balearic Islands fell by 12.3 per cent year-on-year in April. The drop was higher for properties on Spain's Mediterranean coast, where prices have declined by 14.3 per cent in the same period.

On a national basis, real estate values have slid by 12.5 per cent on average over the past 12 months.

Spanish property presents opportunities for investors

Wed, 16 May 2012 00:00:00 GMT

Real estate in Spain is looking more attractive to British buyers than it has for many years.

This is the assertion of Jon Ainge, director of International Property Success, who explained the strength of sterling against the euro, as well as the inventory of distressed property, makes the country a good target for overseas buyers.

He stated: "I can't think of a better opportunity to invest in some exceptional properties at substantial discounts with the lowest interest rate we are likely to see for the foreseeable future."

Mr Ainge highlighted Murcia as one destination to watch, with construction on the Paramount theme park due to begin this month. It is expected to draw in an additional three million visitors each year once it opens its doors.

Editor at A Place in the Sun magazine Liz Rowlinson recently advised potential buyers to be "very precise" about why they purchase overseas real estate, adding they need to be realistic when estimating what the rental returns and capital appreciation of their properties will be.

"Buyers' market" for Italian property

Mon, 7 May 2012 00:00:00 GMT

The strength of sterling and reduced property prices in Italy have combined to create favourable conditions for Brits buying real estate in the country.

This is the assertion of Linda Travella, head of local estate agency Casa Travella, who highlighted Tuscany as a particularly attractive region for investors to consider.

"A vast selection of properties and a strong pound means it is a buyers' market. The Tuscan real estate market has always been international and there is still interest from around the world," she stated.

Ms Travella added her firm has experienced an increase in the number of people searching for Italian property online over the past year.

Real estate investor and founder of Your Property Club Brett Alegre-Wood recently advised any potential buyers not to agree to a purchase until they have viewed the house in question.

He said it is very easy to get caught up in the emotion of a deal - particularly at property fairs - and urged investors to book a plane ticket and visit the area before making a final decision about buying a home there.

Demand for distressed Spanish property 'to outweigh supply'

Fri, 4 May 2012 00:00:00 GMT

There is not expected to be a big enough supply of distressed properties in Spain to meet demand in the second quarter of this year.

According to the latest Royal Institution of Chartered Surveyors (Rics) Global Commercial Property Survey, investor interest in Spanish real estate assets is set to climb over the next three months.

In particular, the study pointed to strong demand for distressed property, but it is anticipated the level of supply in the south European country will fall short.

However, the Rics research noted expectations for both rental and capital values are firmly in negative territory, while occupier demand remains weak.

Last month, a report published by Fitch Ratings predicted the value of repossessed Spanish real estate has fallen by an average of 48 per cent. The organisation calculated the worth of residential properties now, compared to when the mortgage was arranged.

Commenting on the findings, analyst Juan David Garcia stated there is likely to be a further decline in the value of homes in the nation as a result of the "recessionary environment and severe dislocation of the Spanish property market".

Uplift in tourism benefits Marbella

Thu, 3 May 2012 00:00:00 GMT

A rise in the number of tourist arrivals in Marbella has been recorded at the beginning of 2012, due in part to increased interest from Middle Eastern travellers.

Marc Pritchard, sales and marketing manager at Taylor Wimpey de Espana, said it is "no surprise" Marbella is popular not only as a holiday destination, but also as an option for those buying Spanish property.

He described it as delivering "a perfect location between mountains and award-winning beaches, as well as warm temperatures long after the summertime crowds have departed", concluding there is "something for everyone" in the resort.

Mr Pritchard added Brits are still one of the main target markets for the Costa del Sol as a whole and pointed out the region's tourist board is hoping to see arrivals rise by 37 per cent this year, compared with 2011.

Last month, an article in The Telegraph highlighted the opportunities available to property buyers in Marbella's historic centre, highlighting the "character and buzz of Spanish life" to be found, which is unavailable in new, beachside complexes.

'Aspirational quality' of Balearics keeps property prices up

Wed, 2 May 2012 00:00:00 GMT

Many people who choose to buy a property in Spain's Balearic Islands do so because of the aspirational nature of the archipelago.

As a result, demand for real estate is strong, which helps to keep prices on the islands up, managing director of Mallorca and Ibiza Sotheby's International Realty Stephen Dight asserted.

"The Balearics are a much more aspirational destination and, with higher property prices and lower supply of quality homes than the mainland, attract a wealthier expat," he stated.

Despite the Balearic Islands' appeal to overseas buyers, the value of homes in the archipelago - and on the Canary Islands - has fallen during the economic crisis that has hit Spain and other European nations.

The most recent figures published by Tinsa revealed the cost of buying a property in either the Canaries or Balearics fell by 9.8 per cent between March 2012 and the same month a year earlier. However, this is still below the average national decline of 11.5 per cent during the same period.

Climate and investment 'most important factors in overseas property purchases'

Wed, 25 Apr 2012 00:00:00 GMT

The main reasons why Brits buy property in Spain or other nations overseas is due to the warmer climate and investment opportunities on offer.

This is the opinion of James Price, head of international residential development at Knight Frank, who explained the ideal of owning a home in the sun has "become a reality for so many rather than the dream it once was for all but a few".

He added purchasing real estate abroad is something many people aspire to, with the climate and culture more important in their decision making than whether the country is more stable than the UK economically.

It is not only British buyers who are drawn to Spain, with sales and marketing director of Taylor Wimpey de Espana Marc Pritchard revealing earlier this month there have been an increasing number of Scandinavian, Dutch, Belgian and Danish investors targeting property in the country.

He noted the Costa Blanca is particularly popular among buyers from these nations.

Spanish holiday lets 'require good comfort and location'

Thu, 19 Apr 2012 00:00:00 GMT

Comfort and location are two key issues Andalucia property investors should be considering when they buy, if they wish to succeed in the holiday lettings sector.

This is according to ipsbmv.com, which said homes need to be made attractive to would-be letters.

It said simple items like a hairdryer, welcome pack and a safe to put valuables in can increase enquiries by up to a fifth, while location is an obvious factor - but one some people fail to appreciate as they focus on their own tastes and not their target market.

The site also advised having good electronic gadgets can add to the appeal - such as WiFi, while people should also not go for something with too many or too few rooms and be unconcerned with reviews.

In the last case, honesty may pay off as it shows there is nothing to hide about a property.

When it comes to location in Marbella, people may find they are more successful at renting out homes in its historic heart rather than on the beachfront, according to a recent Daily Telegraph feature on a British couple who discovered this for themselves.

Marbella homes tipped as historic alternative

Tue, 17 Apr 2012 00:00:00 GMT

Some people looking for property in Spain may consider Marbella to be a place to buy beachfront villas, but that is not the only option.

A Daily Telegraph feature on the resort notes that the historic centre further inland offers an alternative charm, revealing the experience of British expats Diane Langford and John Taylor, who are both in their 60s.

Ms Langford said the couple rejected the idea of buying an off-plan property when they started house hunting in Marbella in 2005, instead buying a 150-year-old home that they find they can rent out all year round, not just in the holiday season.

She explained: "We wanted an older property that we could refurbish ourselves in the historic quarter, which has a wonderful atmosphere."

The building is linked to a local hotel and Ms Langford cut a deal with the owner that they could make it part of the hotel and split the income from hiring out rooms.

Another Spanish location investors may consider is Granada, with director of Pathfinder Ronan McMahon wrote in International Living that the city's property has "intrinsic value" that will help sustain its appeal.

Is Granada a good spot for Spanish property investment?

Fri, 13 Apr 2012 00:00:00 GMT

Granada is a good location for property investors to consider if they are hoping to find Spanish real estate that will perform well in the future.

This is the assertion of Ronan McMahon, director of Pathfinder, who wrote for International Living that the Spanish city "has intrinsic value that will always hold appeal".

He explained the destination also has a stronger property market than elsewhere in the country, noting it "escaped the major development seen on Spain's costas".

As a result, the schemes that have gone ahead are "tasteful" and there are fewer problems with supply outpacing demand for homes, Mr McMahon noted.

However, there are still opportunities for investors to pick up properties with high loan-to-value ratio mortgages, as Spanish banks are keen to reduce their exposure to the real estate sector.

Reuters recently highlighted the high-value home loans with low interest rates being offered to buyers as an incentive to make a purchase.

Speaking to the news provider, Carlos Ferrer-Bonsoms of Jones Lang LaSalle, stated the banks' tactics of promoting the low monthly mortgage payments - rather than the overall size of the loan itself - have resulted in more sales.

Buying property in Murcia 'makes sense'

Thu, 5 Apr 2012 00:00:00 GMT

Murcia is a good option for those seeking real estate in Spain, with the development of a Paramount theme park in the region just one reason to consider buying in the area.

Director of Mercers estate agency Chris Mercer explained Murcia offers good value for money to buyers, with homes available from as little as €50,000 (£41,000).

"Murcia, whilst not as mainstream as say the Costa del Sol or Costa Blanca, is a market on the up and plenty of things are conspiring to make the future rosy," he asserted.

In addition to the construction of the theme park, a new airport is due to open in the region and there are proposals for the aviation hub to be connected to a new high-speed rail link as well.

Murcia was recently highlighted as one of the top property markets in the world in an index created by International Living.

The Spanish destination came 22nd out of 27 locations that the magazine described as offering "the most attractive, and potentially lucrative, real estate opportunities".

Real estate values slide in Spain

Fri, 30 Mar 2012 00:00:00 GMT

The price of residential property in Spain fell by 3.4 per cent in the first quarter of 2012, compared to the previous three months.

Bloomberg reported on data from Idealista, which revealed the average cost of buying a home in the nation continued to decline at the start of this year, noting in Barcelona house prices are down by 2.9 per cent, while in Valencia this figure is 2.2 per cent.

Fernando Encinar, founder of the property firm, told the news provider one of the main drivers for falling real estate values is the lack of mortgage finance available.

"Legislation passed by the government in February to push banks to provision for real estate will result in similar declines over the remaining quarters of this year," he asserted.

Last month, Banco Santander, Banco Bilbao Vizcaya Argentaria and Caixabank - the country's three largest financial institutions by market value - announced they would set aside a further €2.3 billion (£1.93 billion), €1.4 billion and €2.4 billion respectively, in addition to money already pledged to provision against losses on property assets.

Mallorca is "the perfect place" to buy property

Thu, 29 Mar 2012 00:00:00 GMT

Mallorca has been described as "the perfect place" to invest in Spanish real estate by one travel expert.

Journalist and author Anna Nicholas explained homes in the island tend to retain their value, even when other areas are struggling.

This assertion is borne out by figures published earlier this month by Tinsa, which noted property in the Canary and Balearic Islands was among the most robust in Spain.

According to the organisation, the two archipelagos saw real estate values slide by 8.8 per cent between February 2012 and the same month a year earlier, while nationwide, house prices dropped by 9.5 per cent in this period.

"The most desirable areas are north and south-west of the island, and fincas are usually the property of choice, although there are some excellent apartments on offer," Ms Nicholas stated.

She added that price falls have resulted in some of the most sought-after real estate on Mallorca "going cheap", which may act as a further incentive for potential investors.

Spain 'remains a top choice for overseas buyers'

Tue, 27 Mar 2012 00:00:00 GMT

Spain is still one of the most popular countries in the world among Brits looking for a home overseas.

Research conducted by Caxton FX for the Independent on Sunday revealed the nation took second place in a list of the top ten destinations for property purchases abroad. Only France was more popular among respondents.

Speaking to the newspaper, Marc Pritchard, from Taylor Wimpey de Espana, commented: "Spain's climate, infrastructure, ease of access from the UK, combined with good hospitals and healthcare system, political stability, timeless tourism appeal and affordable housing market draws buyers in their droves."

The publication went on to advise those seeking a property in Spain to approach the current market with caution, noting that while there are significant discounts to be found it is important to choose a high-quality development.

Jon Ainge, director of International Property Success, recently asserted the reason why Brits continue to be attracted to Spanish real estate is that many buyers prefer to stick to what they know, rather than exploring less familiar overseas markets.

British buyers 'continue to target Spanish real estate'

Fri, 23 Mar 2012 00:00:00 GMT

The number of Brits entering the Spanish property market has increased since the beginning of this year.

According to sales and marketing manager of Taylor Wimpey de Espana Marc Pritchard, his firm has seen a 100 per cent jump in the volume of sales completed by British buyers in the first three months of 2012, compared to the same period a year earlier.

He pointed out there are rising numbers of tourists from the UK heading to the south European nation, citing figures from the country's National Statistics Institute demonstrating the number of overnight stays in Spain were up annually by 3.5 per cent in January 2012.

Mr Pritchard added data from Frontur revealed 19.1 per cent of all the holidaymakers who visited Spain at the start of the year were British.

"I really do think that the British love affair with Spain will be stronger than ever in 2012," he asserted.

One region that may see a boost in tourism over the coming years is Murcia, after the project to construct a Paramount-branded theme park, as well as a leisure and business complex, took a step forward earlier this month when the final pieces of land required for the scheme were purchased.

Spanish property 'still a popular investment'

Thu, 22 Mar 2012 00:00:00 GMT

Buying real estate in Spain continues to be a popular option among Brits looking for property abroad.

According to director of International Property Success Jon Ainge, this is because investors generally prefer to stick to something familiar.

He commented potential buyers "prefer the well-trodden path rather than anything beyond their comfort zone, even though capital growth is likely to be much higher in some countries beyond Europe".

Mr Ainge advised investors to carefully consider the quality of the resort in which they buy a property, as well as its accessibility and nearby facilities. He explained that taking this approach, even though such assets may be more expensive than others on the market, is more likely to result in returns in the long term.

Earlier this month, editor of A Place in the Sun magazine Liz Rowlinson stated many people still consider holiday homes to be "a good investment", largely because property is outperforming other asset classes at present.

Spanish property sales up in January

Wed, 14 Mar 2012 00:00:00 GMT

The number of sales completed for Spanish real estate climbed in January compared to December, although the volume of transactions is still down year-on-year.

According to the latest figures from the Spanish national statistics institute (INE), the amount of property purchases increased by 42.3 per cent in the first month of 2012, compared to December last year.

However, the volume of sales in Spain was 18.6 per cent lower than in the same period in 2011.

The INE also revealed the majority of transactions related to urban real estate, with just 13.8 per cent of the sales recorded for rural properties.

Buyers appear to be favouring new homes, with just over half (54.1 per cent) of the purchases for this type of dwelling.

The Spanish holiday homes market is also showing an improvement, with INE data published earlier this month revealing the number of people staying in this type of accommodation increased by 4.7 per cent in January, compared to the same month in 2011.

With more tourists visiting the nation, investors may be tempted to purchase a property while the market is low and target it towards holiday rentals.

Paramount theme park 'will transform Murcia'

Mon, 12 Mar 2012 00:00:00 GMT

The promoter responsible for the Paramount theme park and lifestyle centre that is due to be constructed in Murcia, Spain, has signed the contracts to close the deal for the land required for the project.

Chris Mercer, director of local estate agent Mercers, hailed the scheme, stating it will "transform our corner of Murcia".

He highlighted the opportunities for investors who buy a property in Spain now, while the scheme is still in its early stages.

Mr Mercer noted the region has always delivered "value for money" to real estate buyers and is confident the new attraction will only boost its appeal.

"I very much doubt that there is another location in Spain that will offer the same rental returns and capital appreciation," he asserted.

Property prices in Spain have fallen significantly over the past few years and now British purchasers have the added advantage of a more favourable exchange rate, as the value of the euro has slid against the pound.

According to Currency Index, the cost of buying a home in the country fell by 1.72 per cent in February, based on sterling's strength against the euro.

Will British tourists boost the Costa Blanca property market?

Mon, 5 Mar 2012 00:00:00 GMT

An estimated 2.5 million Brits will visit the Costa Blanca this year for a holiday, which could aid a recovery of the region's property market.

Taylor Wimpey de Espana cited figures from the tourism council in Valencia, which revealed bookings by tourists from the UK are already up by 13 per cent over 2011.

According to the organisation, the 9.1 per cent rise in holidaymakers visiting the area last year helped boost the local real estate sector.

Marc Pritchard, sales and marketing manager at the firm, commented: "International investment into Spanish property increased last year by 27.8 per cent through to the end of September."

He added enquiries from potential buyers of real estate in Spain have climbed by ten per cent so far in 2012, which bodes well for the industry as a whole over the course of this year.

Another region that may benefit from an increase in tourists is the Canary Islands, if a recent report by Holiday Lettings is anything to go by.

The company highlighted a 14 per cent rise in the number of people looking for a rental property in the archipelago during January, compared to the same month a year earlier.

UAE 'is more popular with expats'

Fri, 2 Mar 2012 00:00:00 GMT

A quality of life survey among British expatriates has revealed the United Arab Emirates (UAE) is one of the top places in the world to emigrate to.

The UAE climbed up the NatWest table from tenth position five years ago to sixth place in 2011-12, with many of those questioned stating their financial situation has "improved dramatically" since moving to the nation.

Positive sentiment such as this may encourage other Brits to consider moving to the UAE, particularly as there are signs Dubai's real estate market is picking up.

Last month, Cluttons highlighted figures from the Dubai Land Department, which showed a 64 per cent increase in the number of sales completed in the final quarter of 2011 compared to the previous three-month period.

Head of sales and leasing for Cluttons Dubai Mario Volpi explained property in the emirate is becoming more desirable.

"Dubai has definitely learnt lessons from the past, and, as such, more and more transparent legislation is being passed at government or federal level, which can only improve prospects for buyers and sellers alike," he asserted.

Brazil's property market 'one of the best in the world'

Fri, 2 Mar 2012 00:00:00 GMT

Brazil's real estate sector has been recognised as one of the best performing markets in the world.

Figures published by Global Property Guide revealed residential property values in Sao Paulo climbed by 19.79 per cent in 2011, compared with 2010, while a 5.41 per cent quarterly increase was recorded in the final three months of last year.

Editor of the publication Matthew Montagu-Pollock explained there are several factors that have contributed to the improving fortunes of Brazilian property, including the performance of its domestic economy, which has been particularly strong.

"Many people have forecast that Brazil's boom will come to an end, but there is little sign of that happening at the moment," he concluded.

Dean Thomas, managing director of DLT Property, a developer operating in the nation, agreed, noting the country is "definitely rising up in the property ranks".

The only market to show greater growth than Sao Paulo last year was Delhi in India, according to the Global Property Guide research.

US housing market 'improved in January'

Thu, 23 Feb 2012 00:00:00 GMT

The beginning of 2012 has been positive for the US residential property market, with the level of transactions increasing compared to the start of 2011.

According to the RE/MAX Housing Report, the number of sales completed in January was up by 3.4 per cent on the same month a year earlier, although the value of homes slid by 0.8 per cent over this period.

Chief executive officer of the organisation Margaret Kelly explained buyers are being attracted to US real estate by the low rate of interest and affordable prices.

"If sales continue ahead of last year's pace and inventory does not increase significantly, we could start to see increasing home prices this year," she predicted.

The RE/MAX survey found the number of US properties for sale dropped by 4.2 per cent between December 2011 and January 2012, while this figures is now 24.1 per cent below that recorded in January last year.

Earlier this month, chief economist at the National Association of Realtors Lawrence Yun pointed out the declining inventory is helping balance supply and demand, which in turn will result in greater stability for US house prices.

Paris property market 'makes gains'

Tue, 21 Feb 2012 00:00:00 GMT

Paris has been named as one of the best performing world-class cities, with its real estate market experiencing significant price growth.

The Savills World Class Cities Index revealed the French capital has moved into third place, with only Hong Kong and London more expensive.

According to the organisation, real estate in Paris increased in value by 5.9 per cent between June and December last year, while the city has seen price growth of 46 per cent in the five and half years from December 2005 to June 2011.

Head of Savills residential research Yolande Barnes asserted Paris, along with London and New York, is likely to "sustain pricing" throughout 2012.

She explained its credentials as a safe haven will support the French property sector, noting "the influx of global wealth in an uncertain world still has some time to run".

One local real estate expert recently pointed to a rise in the level of interest in the nation's housing market from British buyers.

Richard Deans, head of the UK sales office at MGM Properties, revealed his organisation had received more than three times as many enquiries about real estate in France during January than it did in the same month in 2010.

Venice: a new target for property investment?

Fri, 17 Feb 2012 00:00:00 GMT

At a time when many buyers are seeking quality real estate assets, Venice is emerging as a sought-after destination.

Speaking to The Telegraph, Clare Hazle, of Knight Frank's international desk, explained British purchasers are only looking for homes "in tried and tested places they know and love".

While Venice is one of the most expensive places to buy property in Italy, Ms Hazle pointed out assets tend to hold their value well as "there is a shortage of new and newly-restored property".

However, real estate expert Paul Hudson warned potential buyers to be wary of choosing to renovate a house or apartment themselves, due to the high costs of transporting materials and strict regulations designed to preserve the city's historic buildings.

The most recent Knight Frank Global House Price Index revealed the value of properties in Italy fell by 0.4 per cent between the second and third quarters of 2011.

According to the organisation, this slower rate of decline may indicate that the country's residential real estate sector is "over the worst".

Spanish property 'could form part of a pension portfolio'

Thu, 16 Feb 2012 00:00:00 GMT

People looking at their plans for retirement may want to consider the merits of owning overseas property as part of their nest egg.

This is the assertion of Jon Ainge, director of International Property Success, who noted purchasing real estate in certain locations could prove to be a sensible move.

"I believe the returns from overseas property, particularly in locations like the Caribbean, the Algarve and the Spanish coast can help fund retirement and should be part of a pension portfolio," he stated.

Choosing to buy real estate in Spain could be the most popular option, if the observations of one expert are anything to go by.

Earlier this month, editor of A Place in the Sun magazine Liz Rowlinson explained Spain is attracting an increasing number of British buyers because house prices have fallen to a more affordable level, while its attractions of sun, beaches and other amenities continue to appeal to holidaymakers.

Murcia 'a hotspot' for Spanish property investment

Wed, 15 Feb 2012 00:00:00 GMT

Investors have been advised to consider the merits of buying a property in the Spanish region of Murcia.

According to International Property Success, there are many reasons why purchasing a home in this part of the country is a lucrative investment.

The organisation cited the new Paramount theme park as an important future driver for tourism, with between three and five million visitors expected to descend on the attraction when it opens in 2015.

In addition, the region is home to over 50 golf courses, while its coastal location makes it popular for tourists seeking a beach holiday.

"The attractive thing from an investment point of view is that foreign investment in holiday homes has increased in Murcia and so will tourism," the firm stated.

With the development of the Paramount attraction set to progress, now may be the best time to consider buying a property in Spain in Murcia.

In December, the promoter of the theme park Proyectos Emblematicos Murcianos announced its intention to go ahead with the purchase of the land required for the scheme at a cost of €15.8 million (£13.2 million).

Real estate in Spain 'seen as safe investment'

Mon, 13 Feb 2012 00:00:00 GMT

Property in Spain is increasingly being viewed as a safe investment as the economic downturn continues.

This is according to A Place in the Sun magazine website editor Liz Rowlinson, who said there has been a definite shift back to countries like Spain that are seen as more established than emerging markets in other parts of the world.

She added that feedback from readers indicates Spain is among the most popular locations for property buyers "by some measure".

"Prices have fallen so much that it's now within people's budgets, yet still offers all the things that make it our favourite holiday destination - great climate, beaches and amenities, such as golf courses," Ms Rowlinson remarked.

The comments came shortly after Robin Haynes of Currency Index noted that British buyers considering purchasing real estate in Spain may want to take advantage of the current strength of sterling against the euro.

He suggested that investors could get over eight per cent more for their cash when buying euros compared with last July.

Buyers 'should take advantage of cheaper Italian property'

Thu, 9 Feb 2012 00:00:00 GMT

Many sellers in Italy have reduced the asking price of their properties in recent months, prompting one local real estate expert to urge buyers to take advantage of the situation.

Linda Travella, of Casa Travella, explained Italian vendors were slower to cut the amount they were asking for their homes than other Europeans.

However, she noted they have recently realised doing so is encouraging investors to look elsewhere for their next purchase and many have therefore started to offer Italian properties for sale at "below market value".

Ms Travella added the strength of sterling against the euro means buyers from the UK can also benefit from the exchange rate.

Buyers may want to bear in mind the reintroduction of a property tax on first homes, announced by the Italian government in December last year.

New prime minister Mario Monti set out his plans to bring back the levy, which was abolished under previous leader Silvio Berlusconi, among other austerity measures aimed at getting Italy's budget deficit under control.

'Opportunities for investors' in Spanish retail property

Tue, 7 Feb 2012 00:00:00 GMT

There are expected to be "attractive opportunities" for investors in the Spanish retail real estate sector over the course of 2012.

Danny Kinnoch, international investment director at Savills, commented that buyers who are not relying on finance from banks will be able to take advantage of some of the best deals on offer.

He stated: "There is scope for strong returns assuming market recovery over the medium term, which will keep international players acquisitive."

Meanwhile, debt sales of such Spanish real estate assets will provide chances for "opportunistic investors", Mr Kinnoch added.

Savills has predicted that yields in the country's retail property sector will be steady over the course of 2012, with returns currently standing at 6.5 per cent for prime shopping centres and seven per cent for prime retail parks.

Research published by Jones Lang LaSalle last month revealed the volume of investment in Europe's retail sector was expected to break the €28 billion (£23 billion) mark in 2011, a significant increase over the €20.7 billion recorded in 2010.

Property buyers in Spain 'should focus on consolidated areas'

Tue, 31 Jan 2012 00:00:00 GMT

People who are keen to purchase real estate in Spain should focus their search on consolidated areas in the most popular destinations.

So says Mark Stucklin, head of Spanish Property Insight, who explained looking in these locations means buyers "can now be picky and fussy about what they go for".

He highlighted the Costa del Sol, Costa Blanca and Alicante as the three most popular regions for property investors at present.

"Consolidated areas that are well-established with a good range of amenities and services will be the most interesting and will be where people are looking," Mr Stucklin stated.

However, he warned there is over-priced property on sale, so buyers need to do their research before committing to a purchase.

Managing director of Currency Index Robin Haynes pointed out last week (January 26th) that people investing in property in the eurozone - including Spain - can now expect to get approximately eight per cent more for their money than in July 2011, thanks to the reduced value of the euro compared to sterling.

Is the US property market improving?

Thu, 26 Jan 2012 00:00:00 GMT

There are indications that now may be a good time to buy real estate in the US, with signs that the market in some parts of the nation is improving.

Liz Rowlinson, editor of A Place in the Sun magazine, said there is anecdotal evidence that real estate sectors in destinations such as Florida are recovering.

"Good properties are being sought by more than one buyer and that is a healthy sign. It does definitely seem as if it is a situation to buy in 2012," she asserted.

Ms Rowlinson added the most popular areas of Florida for British purchasers are around Orlando, as well as Naples, Tampa and Sarasota.

The National Association of Realtors (NAR) released data earlier this week showing the number of existing home sales in the US increased in December for the third consecutive month.

According to the NAR, there was a five per cent rise in the volume of transactions completed in December, compared to November.

Rising tourist numbers 'good for Spanish property'

Wed, 25 Jan 2012 00:00:00 GMT

Owners of property in Spain are likely to be encouraged by the rising tourist numbers recorded in the country.

This is the opinion of Marc Pritchard, sales and marketing manager at Taylor Wimpey de Espana, who noted that even more people are expected to holiday in the nation during 2012 than in 2011.

He highlighted figures from the Spanish airport authority, which revealed 500,000 more passengers passed through Alicante last year compared with 2010, while there has been a 15 per cent rise in the number of requests for flight slots at the Costa Blanca hub.

Mr Pritchard commented such data is "great news for Spanish tourism and property markets this year".

Those considering purchasing real estate in Spain may want to take note of the latest report published by Tinsa.

In its December General IMIE Index of house prices, the organisation revealed the value of properties on the country's Mediterranean coast - which includes the Costa Blanca - fell by 7.1 per cent year-on-year.

This may encourage investors to make a purchase while the market is low.

Spanish expats 'among the happiest'

Mon, 23 Jan 2012 00:00:00 GMT

Brits who have moved to Spain are the happiest expatriates (expats), according to a new survey.

The research, carried out by Lloyds TSB International and published by The Telegraph, revealed that 75.9 per cent of those questioned said they were happier living in Spain than they had been in the UK.

On average, 68 per cent of expats claimed they were more content when residing abroad than they were in Britain.

John Kramer, an expat living in Andalucia, told the news provider Spain offers an "outdoor lifestyle, traditional family values and positive outlook on life".

Those considering purchasing a property in Spain with the intention of moving to the nation may be encouraged by the findings of this study.

A Place in the Sun magazine recently revealed the country remains the top choice for Brits looking to buy real estate overseas.

The publication quizzed visitors at two of its live exhibitions and found Spain was a more popular option than other favourites such as France, Portugal, Italy and the USA.

Spain 'top destination' for Brits buying property abroad

Thu, 19 Jan 2012 00:00:00 GMT

Spain is still the first choice for British buyers looking for a property overseas, a new survey has revealed.

Research conducted by A Place in the Sun magazine at two of its live exhibitions found that real estate in Spain has retained its appeal among the British market.

France, Portugal, Italy and the USA completed the top five, with eight out of the ten most popular destinations in Europe.

Liz Rowlinson, editor of the publication, commented: "What's really interesting about our annual Ten Best Places to Buy Abroad survey is that it shows UK buyers are sticking to tried and tested European countries."

Director at Conti Clare Nessling recently made a similar observation in an interview with Mortgage Introducer.

She told the publication that investors are being drawn to overseas property by the potential for higher returns than those generated by UK-based assets.

Ms Nessling added that strong rental prospects and capital growth are among the factors buyers are considering when searching for a real estate investment abroad.

Property investors 'focusing on prime locations' in Andalucia

Fri, 13 Jan 2012 00:00:00 GMT

Andalucia's prime locations have seen an upturn in the fortunes of their property markets over the past year, it has been claimed.

In her annual report, agent with The Property Finders Barbara Wood explained the focus for investors has been on prime assets, with the market now very similar to how it was in the mid-1990s.

"In 2012, the buyer is remarkably similar to the 1995 buyer - cash rich [...] and only interested in quality properties in the very best locations," she asserted.

Ms Wood added "virtually 100 per cent" of Andalucian real estate transactions are occurring in "a handful of prime locations", highlighting Marbella as a particular hotspot.

She went on to predict that, over the next 12 months, buyers will avoid assets that are in undesirable destinations or of a lower quality, but expects investors to continue to show an interest in the top end of the market.

Earlier this week, Marc Pritchard, sales and marketing director at Taylor Wimpey de Espana, was positive about the outlook for Spanish property in 2012, commenting that further house price falls in highly desirable areas are unlikely, with growth anticipated in the most sought-after locations.

Spanish property market expected to improve

Thu, 12 Jan 2012 00:00:00 GMT

Some sectors of the Spanish real estate market will begin to recover in 2012, it has been claimed.

Marc Pritchard, sales and marketing director at Taylor Wimpey de Espana, explained that property prices in prime locations had already stabilised in 2011 and this trend is set to continue into this year.

He added, in many cases, the value of homes in the most sought-after destinations has hit rock bottom, with positive growth now likely.

However, Mr Pritchard warned buyers to be cautious when looking at inland properties, as such assets in undeveloped locations may see a further drop in price during 2012.

A recent report published by Assetz suggested investors should avoid making a purchase in an area where there is significant oversupply, as this could affect the amount of rental income a house can generate.

Mr Pritchard does not believe the level of rent will necessarily be a primary concern for many potential purchasers, though, as he has predicted a rise in the number of lifestyle buyers entering the Spanish real estate market in search of a second home.

Quality buyers 'can pick up bargain Spanish property'

Tue, 10 Jan 2012 00:00:00 GMT

Buyers with a solid financial footing may find there are opportunities for them to purchase good value Spanish property, it has been asserted.

Managing director of Feltrim International Adam Cornwell explained while the outlook for mortgage lending in Spain during 2012 is not overly positive, people classed as "quality buyers" are likely to be targeted by the country's banks in an attempt to sell on some of their real estate assets.

He commented Spanish financial institutions "are prepared to offload these homes at rock-bottom prices with the highest mortgages".

Mr Cornwell stressed that the Spanish property market stands out as a result of the level of finance being offered to encourage investors to purchase distressed assets.

There are some parts of the nation buyers may be particularly interested in, he added, with Marbella one of the regions considered to be "safe".

This comes after sales and marketing manager at Taylor Wimpey de Espana Marc Pritchard recently highlighted a Kyero.com survey, which revealed the Costa Blanca and Alicante are among the top targets for overseas investors.

Spanish property prices drop 4% in 2011

Fri, 6 Jan 2012 00:00:00 GMT

Prices for property in Spain decreased by four per cent last year, according to a new report.

Figures from Sociedad de Tasacion show the average cost of a new dwelling stood at €213,840 (£177,169) in 2011, with 81,000 properties being built during the 12-month period. Barcelona had the most expensive homes, while Murcia recorded the lowest prices.

The real estate organisation said it believes this downward trend for house values will continue in 2012.

However, it also suggested the balance between supply and demand will improve, as the number of available residences starts to match the needs of buyers following the oversupply of properties in recent years, the Leader reported.

The newspaper said Sociedad de Tasacion's figures point to a slight upturn in some areas; although 48 of the 50 provinces saw a drop in prices, Zamora experienced an increase and Pontevedra's values began to level off.

Figures published by the Royal Institution of Chartered Surveyors last November indicated that agents believe the supply of distressed properties in Spain will continue to rise as a result of the eurozone crisis.

More foreigners buying property in Spain

Tue, 3 Jan 2012 00:00:00 GMT

An increase in the number of overseas buyers entering the Spanish property market has been recorded.

Global Property Guide reported on figures published by the Ministry of Public Transactions, which showed a 24.7 per cent rise in the number of foreigners involved in real estate deals during the third quarter of 2011, compared to the same period a year earlier.

Among the most popular regions for buyers from outside Spain were Alicante, Malaga, Barcelona and the Balearic Islands, the news provider revealed.

Speaking to the publication, Marc Pritchard, sales and marketing director of Taylor Wimpey de Espana, commented the rising interest from overseas investors demonstrates "many buyers have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations".

Mr Pritchard and Stephen Dight, managing director of Mallorca Sotheby's International Realty, both recently highlighted Mallorca's real estate market as one to watch in 2012.

The prediction was prompted by an announcement by Ryanair that it intends to run more flights to the island and open up new routes to and from its main airport.

Spanish banks 'to be encouraged to sell real estate assets'

Fri, 23 Dec 2011 00:00:00 GMT

Spain's banks will be encouraged to sell off their real estate portfolios, the country's new prime minister Mariano Rajoy has revealed.

In an address to the Spanish parliament on Tuesday (December 20th), Mr Rajoy said the true value of the so-called toxic assets held by many of the country's financial institutions needs to be clarified.

The Guardian quoted the Spanish prime minister as saying: "We must clear up doubts about the value of certain assets, especially in real estate, which make access to the markets for the financial sector more difficult and also damage the credibility of our public debt."

Analyst with Eurasia Group Antonio Barroso told the Associated Press there is still division between the Popular Party, who have the majority in Parliament, and the Bank of Spain about the possibility of establishing a bank to deal with all the toxic assets.

Spain's real estate market has seen the value of homes fall substantially, with the most recent data published by Tinsa showing the price of property in the nation has fallen by eight per cent between November this year and the same month in 2010.

Lending in Spain 'unlikely to recover in 2012'

Tue, 20 Dec 2011 00:00:00 GMT

There is unlikely to be a recovery in lending to those buying property in Spain over the coming 12 months, it has been asserted.

Bloomberg Businessweek highlighted a report from Fitch Ratings, which predicted that financial institutions in the nation will be concentrating on "optimising their balance sheets", rather than increasing lending.

The firm noted banks are expected to focus on "existing high-quality borrowers and on potential buyers of banks' repossessed properties".

As a result, the mortgage market in Spain is likely to remain constricted in 2012, the organisation added.

Investors with access to finance may want to consider purchasing real estate in the nation after International Property Success stated earlier this month that the housing market has "reached its bottom".

The company pointed to areas such as Murcia, Tenerife and Malaga, where the value of homes has begun to increase, which may indicate returning confidence after a long period of decline.

'End of year rush' predicted for Spanish property

Thu, 15 Dec 2011 00:00:00 GMT

There looks set to be an final rush of buyers seeking out Spanish real estate before 2011 draws to a close.

This is the assertion of Sue Brown writing for PropertyInSpain.net, who claimed many people who have been waiting for the opportunity to invest in the market have now decided the time is right.

She noted one driving force behind the decision is the low interest rates offered on savings accounts, which are pushing people to seek out assets that generate a better return.

Ben Walker, sales manager for the property firm, commented: "The increase in activity in the last quarter of 2011 suggests that many of these manana [tomorrow] buyers have decided to make their move while the choice of well-located, well-priced properties remains good."

Earlier this month, International Property Success suggested Spanish house prices have hit the bottom and will now begin to recover.

The organisation highlighted the markets of Murcia, Tenerife and Malaga, which have recently seen an upturn in property values.

More Russian investors to buy property in Spain?

Wed, 14 Dec 2011 00:00:00 GMT

Russian investors are increasingly targeting overseas property markets and Spain is one of their top choices, it has been revealed.

Organiser of international real estate shows aiGroup found that 71 per cent of the attendees at the Moscow and St Petersburg events intend to buy a home abroad within the next three to six months.

Chief executive officer of the firm Kim Waddoup noted that Spain, along with Italy and Bulgaria, is one of the most popular locations in which to invest in real estate.

She added a third of those surveyed have more than €300,000 (£256,000) to plough into a real estate purchase in Spain or elsewhere.

The company cited figures from Russia's central bank, which show approximately $70 billion (£44.76 billion) in capital is expected to leave the nation by the end of 2011.

Last month, real estate agents Fine & Country Spain reported a significant increase in the number of enquiries they received from potential Russian buyers looking at homes in Marbella.

Sales director at the firm Laurent Coulee explained the majority of investors are keen to own property on the coast, while purchasing real estate in Spain will also ensure they receive a visa, making future European travel much easier.

More tourist arrivals 'may boost Mallorca property market'

Tue, 13 Dec 2011 00:00:00 GMT

The market for property in Spain may be boosted by increasing numbers of tourists touching down in the country.

According to managing director of Mallorca Sotheby's International Realty Stephen Dight, rising numbers of tourists coming into Palma - the capital of Mallorca - are often a sign that house prices will climb.

Figures from the Institute of Tourism Studies recently indicated that nearly one-fifth of the 32.2 million travellers who came to Spain on low-cost airlines between January and October 2011 arrived in the city.

Mr Dight noted that many clients have loved Palma so much that they want to buy conversions in old buildings, adding:"The prices are high but the results are absolutely incredible one-off homes at the heart of the action."

Another area of the country that appears to be proving popular is Marbella, with Fine & Country Spain recently noting Russians in particular seem to be keen to buy real estate in this destination.

'Spend time in Spain' before buying a property

Thu, 8 Dec 2011 00:00:00 GMT

People who are considering purchasing a home in Spain need to spend plenty of time in the country before they make a decision about where to live.

This is the advice of Chris Marshall, founder of Almerimarlife.com, who explained it is important to see your chosen destination at different times of the year.

"Wherever you go, I would recommend renting for a year first. You'll get some incredibly good ideas," he stated.

Another factor to consider before purchasing property in Spain is the airport and its links with the UK, Mr Marshall added.

Potential buyers should check that flights will operate outside the standard tourist season, otherwise accessibility may become an issue.

Meanwhile, investors could target the try-before-you-buy market to find longer-term tenants for homes they own in Spain, rather than relying on holiday rentals.

Last month, Fly2let cited figures from the Overseas Guides Company which showed an increasing level of interest in Spanish real estate among British buyers.

According to the organisation, enquiries about the south European nation rose by 60 per cent during September.

Spanish property prices down

Wed, 7 Dec 2011 00:00:00 GMT

Spain is one of the nations to see the biggest annual fall in residential property values around the world, new research has revealed.

In the Knight Frank Global House Price Index, the European country was ranked 45th out of 51, experiencing a year-on-year drop of 5.5 per cent between the third quarter of 2010 and the same period in 2011.

However, the firm commented that the latest set of data indicates that Spain - as well as the other nations in the PIIGS (Portugal, Ireland, Italy, Greece and Spain) group - may be "over the worst".

The report stated: "Although prices in all five housing markets continued to fall, the pace of decline slowed in all but Portugal."

According to the findings, the Spanish property sector saw values slip by 1.3 per cent between the second and third quarters of 2011.

Figures published last month by Global Property Guide painted a more optimistic picture of the health of the real estate industry in the country, recording a lower quarterly price drop of 0.83 per cent.

More property buyers 'looking to Spain'

Thu, 1 Dec 2011 00:00:00 GMT

There has been a rise in the number of people expressing an interest in buying real estate in Spain, new research has found.

Fly2let cited a report from the Overseas Guide Company (OGC), which revealed it experienced a 60 per cent rise in requests for information about the nation during September.

Client relationship manager at OGC's research centre Elaine Ferguson commented: "Spain has suddenly begun to take off again and is now commanding the second largest share out of thousands of enquiries coming from people interested in buying overseas."

Richard Way, editor at the firm, told the website that budget is a key consideration for those thinking of entering a real estate market abroad.

He added that countries like Spain are doing well because they are relatively easy to reach from the UK and the journey is usually inexpensive.

Earlier this month, journalist and author Anna Nicholas stressed the importance of visiting the country several times before committing to a property purchase.

She explained it is important to get an idea of what the area you are considering buying in is like at different times of the year, to ensure it will meet your needs in both summer and winter.

2012 recovery predicted for Thai property

Mon, 28 Nov 2011 00:00:00 GMT

The Thai real estate market will recover next year, one expert in the industry has stated.

Speaking to The Nation newspaper, chief executive of Raimon Land Hubert Viriot described the floods that have hit Bangkok recently as "a one-off event", adding that it would not affect the firm's expansion plans.

According to the publication, demand for new homes helped Raimon Land's presales climb by 23 per cent during the first nine months of this year, compared to the same period in 2010.

The company has also announced that it will embark on a construction project in Pattaya to deliver a condominium development.

An article written by James Pitchon, executive director of CB Richard Ellis (CBRE) research and CBRE consulting, Thailand, for the Bangkok Post earlier this month predicted that the flooding will have an impact on the city's property market going forward.

He noted that, in terms of residential sales, buyers are likely to favour condominiums over houses as belongings are less likely to be damaged by such natural disasters in high-rise buildings, while there will also be a focus on the flood protection measures in place at specific developments.

Russian buyers 'targeting Marbella real estate'

Thu, 24 Nov 2011 00:00:00 GMT

Marbella in Spain is proving popular among Russians looking for property in the country, it has been noted.

Fine & Country Spain, a real estate agency, has recorded an increase in the number of buyers from Russia expressing an interest in developments in the region.

Sales director at the firm Laurent Coulee commented that the amount of people from the nation searching for properties in Spain has doubled since 2010.

He added that the majority of investors are targeting high-end homes on the coast in Marbella.

Mr Coulee pointed to several reasons why they may be attracted to Spanish real estate: "If Russians buy property in Spain, they are able to obtain a visa for visits [...] Many also prefer to invest in property in another currency to spread the currency risk."

Earlier this month, International Property Success predicted that house prices will not fall any further in Marbella, due in part to the influx of foreign buyers.

In addition to Russians, the organisation revealed Middle Eastern and British buyers are also attracted to real estate in this region of Spain.