Real Estate & Editors' Choice News in Spain from Propertyshowrooms.com

'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.

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.

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.

Spanish rental properties 'need to be top quality'

Mon, 21 Nov 2011 00:00:00 GMT

Holidaymakers opting for rental properties in Spain are looking for higher standards from their accommodation.

This is the finding of the Campaya Rental Property Market Trends 2011 report, which revealed that visitors to the country are increasingly searching for "levels of luxury equal to, if not better than, at home".

As a result, the organisation suggested that those who invest in a property in Spain with the intention of letting it out to tourists may need to do more when it comes to furnishing and decorating the flat or house.

However, it warned that spending extra money on kitting out a property will not necessarily lead to higher rents, because the supply of such holiday homes continues to outweigh demand.

The Campaya report added taking the time and effort to do this will make it easier to attract travellers.

It concluded: "Make it desirable, make it affordable and market it properly, and you have a good chance of making some money out of your holiday home investment."

Earlier this week, sales and marketing director at Taylor Wimpey de Espana Marc Pritchard suggested that investors may want to focus their attention on popular golfing destinations, as this section of the tourism market is "resilient and reliable".

'Many things to consider' before moving to Spain

Wed, 16 Nov 2011 00:00:00 GMT

Anyone hoping to buy a property in Spain and move overseas must do a lot of planning before committing to relocating, it has been asserted.

Ben Curtis, director of language learning website NotesinSpanish.com, explained there are several things that need to be worked out before people purchase a home in the country.

He stressed that one of the most important factors for expatriates is how they are going to support themselves financially.

Mr Curtis pointed out that changes in exchange rates have not made it as easy for Brits to move to mainland Europe as it was several years ago.

Those who are keen to buy a property in the nation may want to take his advice about researching the area they plan to live in.

"I think that anyone wanting to live in Spain would be wise to come for a few weeks first on an exploratory trip to make sure they know exactly what they are going to be dealing with once they arrive," Mr Curtis stated.

Author and journalist Anna Nicholas recently made a similar point and stressed the importance of visiting the region of Spain you plan to move to at different times of the year.

She recommended making several trips to the country in various seasons before taking the plunge and buying a home there.

'Do your research' before moving to Spain

Mon, 14 Nov 2011 00:00:00 GMT

Anyone considering buying a property in Spain to live in needs to do plenty of research before committing to a purchase.

This is the opinion of journalist and author Anna Nicholas, who stressed the importance of visiting the country several times and planning each trip during a different season.

She noted that potential buyers need to look at all the amenities in the area, including healthcare facilities, transport links to the UK and schools - if they have children.

Ms Nicholas advised people to be cautious, particularly if they are considering new-build or off-plan properties.

"It is critical to find a sound and impartial lawyer with good English," she added.

Buyers may be drawn to new-build homes in Spain at present after the government announced that the tax payable on such a purchase would be halved from eight per cent to four per cent until the end of 2011.

The move is an attempt to encourage more foreign investors back into the market to help shift some of the thousands of empty dwellings in the country.

Mortgage availability in Spain "surprisingly good"

Fri, 11 Nov 2011 00:00:00 GMT

Investors who are hoping to snap up a property in Spain but who will need assistance with financing may be pleased to learn that lending conditions in the nation are "surprisingly good".

This is according to director of mortgage broker Conti Clare Nessling, who wrote for Mortgage Strategy that financial institutions in the nation "still have a healthy appetite for lending".

She noted that there are mortgage products on offer with a loan-to-value of up to 70 per cent, while some of the more robust real estate markets - such as the Canary and Balearic Islands - are even more accessible.

"Generally, smaller deposits are possible in areas where house prices are more resilient," Ms Nessling stated.

In addition, banks are keen to get rid of repossessed properties, with some lenders therefore offering attractive deals to buyers at this time, she pointed out.

According to Chris Mercer, director of Murcia-based estate agency Mercers, people looking for a home in Spain with good potential should consider this southern region of the nation.

He highlighted a number of infrastructure improvements - including the construction of a new Paramount-branded theme park and a new airport at Corvera - commenting that these will help strengthen the market in the coming years.

Spanish property 'being targeted' by domestic investors

Thu, 10 Nov 2011 00:00:00 GMT

Domestic buyers now account for two-thirds of those making purchases in the Spanish real estate market, it has been revealed.

Research conducted by Savills found that 66.2 per cent of those involved in property transactions during the first nine months of 2011 were Spanish, a significant increase from the same period in 2010.

International investment director at Savills Spain Danny Kinnoch noted that there has been a split between opportunistic buyers and those focusing on strong assets with high occupancy levels and steady returns.

He commented: "Domestic investors continue to dominate the core market, but international players remain on the lookout for opportune deals."

Mr Kinnoch went on to predict that investment volumes in the Spanish real estate sector in 2012 will exceed those recorded this year.

However, a recent study by the Royal Institution of Chartered Surveyors revealed that expectations of capital and rental growth have fallen, with the continuation of the eurozone debt crisis among the factors weighing on investors' sentiment.

"Top-down recovery" predicted for Mallorca

Wed, 9 Nov 2011 00:00:00 GMT

The property market in Mallorca is expected to undergo a "top-down recovery" in 2012, it has been claimed.

Managing director of Mallorca Sotheby's International Realty Stephen Dight explained that the high-end homes for sale on the island have performed relatively well this year and anticipates that this will continue into 2012.

"We expect a top-down recovery, that is to say continual improvement in the top-quality end of the market with a trickledown effect spreading to the lower priced property," he asserted.

Mr Dight was positive about the real estate sector in Mallorca overall, noting that it has held up better than many other Spanish destinations.

Among the reasons for its resilience are its popularity with buyers from all over Europe, as well as the lack of available stock on the market, he revealed.

The General IMIE index of Spanish house prices published by Tinsa last month showed that the Balearic and Canary Islands boasted the best-performing real estate sectors in the country during September.

Although property values declined by 7.4 per cent nationally year on year, homes in these areas saw their prices fall by six per cent in the same period.

Seaside Mallorca properties 'the premium option'

Thu, 27 Oct 2011 00:00:00 GMT

A growing gap is emerging between the price of beach-front properties in Mallorca and those located further inland, it has been noted.

Managing director of Mallorca Southeby's International Realty Stephen Dight explained that at the top end of the market, sea views are very important.

He added that the firm only deals with clients seeking high-value homes who can "afford the very best", concluding "the very best in Mallorca is a sea-front home".

This is because of the importance the coast has played in the development of the island's tourism industry and the fact that so many leisure activities here revolve around the sea, the firm highlighted.

Meanwhile, selecting a property on one of the cliff tops will offer "spectacular, elevated views", which enhances the popularity of such assets, according to Mallorca Sotheby's International.

Investors may also be attracted to Mallorca real estate as the Balearic Islands is one of the regions where house prices have exhibited the smallest declines, the most recent General IMIE Index from Tinsa showed.

During September, property values slid by an average of six per cent across this archipelago and the Canary Islands, while on a national level, prices dropped by 7.4 per cent, the figures revealed.

Brits 'still biggest buyers of Spanish property'

Mon, 24 Oct 2011 00:00:00 GMT

Brits are still the largest group of overseas buyers that purchase properties in Spain, new research has revealed.

Taylor Wimpey Espana published its sales figures for September, showing that Brits are responsible for 30 per cent of transactions, followed by Spanish and Russian buyers taking a 20 per cent share of the market each.

Germans comprise ten per cent, the company noted, while other nationalities to express an interest in Spanish real estate include the Swiss, Swedish, Dutch and Belgian.

In addition the property developer pointed out that its sales figures rose in September by 15 per cent, while enquiries were up by 45.5 per cent compared to the same month a year earlier.

Marc Pritchard, sales and marketing director of Taylor Wimpey Espana, commented: "September was a great month for us and October has been following in the same footsteps, with positive sales in the first 15 days."

Despite the rising sales for the firm, the Spanish real estate sector is still suffering, with the most recent government figures showing that, on average, property values dropped by 5.5 per cent in the third quarter, compared to the same period in 2010.

"Great deals" available on property in Spain

Wed, 28 Sep 2011 00:00:00 GMT

There are a number of great deals at present for those looking to buy property in Spain.

A survey carried out by Savills for the Daily Telegraph has found that while it is still a popular location for renters, the country has seen house prices drop by up to 50 per cent.

Rebecca Gill, the author of the report, stated: "There are great deals as the government has cut VAT from eight per cent to four per cent on new-builds."

Investors who want to get their hands on dwellings are securing deals on the mainland, where the reductions are at their greatest - compared to Majorca and Ibiza.

It comes after research carried out by Post Office International Payments found that Spain is the fourth most desirable location for people to live overseas.

On top of this, it placed highest in terms of countries where the first language is not English.

Spanish property price rises 'encouraging'

Tue, 20 Sep 2011 00:00:00 GMT

Reported increases in Spanish property prices have been described as "encouraging" by one expert in the country's real estate sector.

Ignacio Osle, sales and marketing director of developer Taylor Wimpey de Espana, commented that figures showing price rises in certain parts of Spain are "an encouraging sign for investors".

He cited a recent study that revealed home values in locations such as Costa Blanca, Costa Calida, Alicante and Murcia are on the rise.

"Alicante, for instance, has experienced improvements in its infrastructure, seeing a second airport terminal open, which is always good news when it comes to attracting more visitors," Mr Osle added.

The firm also pointed out that the latest figures published by the Spanish government show that the number of property sales increased during the second quarter of the year, compared to the first three months.

However, data released by the country's National Statistics Institute relating to real estate transactions in July indicate that the market is once again slowing down, with the number of sales falling on both a month-on-month and annual basis.

Properties in Canaries and Balearics 'performs better than other parts of Spain'

Mon, 12 Sep 2011 00:00:00 GMT

Real estate in the Canary and Balearic Islands has experienced much lower price drops than in other parts of Spain, it has been noted.

Managing director of Spanish-Living.com Adrian Warriner pointed out that the two archipelagos - which include destinations such as Tenerife, Ibiza and Mallorca - have fared better than their mainland counterparts, recording just a 2.5 per cent fall in values over the last year.

"This is good if you already own a property there, but not so good if you are an investor looking for a bargain," he stated.

Mr Warriner went on to suggest that those hoping to buy a home in Spain while the market is low may want to consider the Costa del Sol, which has seen average prices decline by more than ten per cent in the past 12 months.

According to the General Spanish Real Estate Index published at the start of August, the nation as a whole saw values plummet by 6.4 per cent between July 2010 and the same month this year.

Regional capitals and large cities experienced a reduction of 7.5 per cent, while metropolitan areas and other municipalities recorded 6.1 per cent and 5.4 per cent falls in house prices respectively.

Spanish property price falls 'result in bargains'

Thu, 8 Sep 2011 00:00:00 GMT

People hoping to invest in a Spanish property may be encouraged by one expert's assertion that there are "some outstanding bargains to be found" in the country.

Managing director of Spanish-Living.com Adrian Warriner explained that in some of Spain's coastal areas, price falls have been substantial, which makes this the ideal time for buyers to jump in.

He highlighted the Costa del Sol, where house values have plummeted by ten per cent this year alone.

Mr Warriner also suggested looking at locations such as Nueva Andalucia, San Pedro and Guadalmina because they "provide easy access to upmarket hotspots Marbella and Puerto Banus".

He added that the range of beaches, golf courses and other outdoor activity centres means such destinations have "strong all-year-round potential" for property investors looking to rent their house out to holidaymakers.

According to figures published last month by Global Property Guide, Spain experienced an 8.43 per cent decline in real estate prices during the second quarter of this year, compared to the same period in 2010.

'Many reasons' why Spain is a top retirement destination

Wed, 7 Sep 2011 00:00:00 GMT

There are numerous reasons for retirees from the UK deciding to buy a property in Spain and settle down in the south European nation for their later years, it has been claimed.

According to Taylor Wimpey de Espana, one of the main attractions is the low cost of living, with the company noting that the typical price of dining out for two is just €10 (£8.74).

The firm highlighted Mallorca as a particularly popular retirement location, with sales and marketing director Ignacio Osle explaining that the island offers something for everyone, from bustling cities to peaceful village retreats.

He commented: "There is a general feeling of good health, a wellbeing evoked by the island which is enough to encourage anyone looking to retire to make Mallorca their new home."

Taylor Wimpey de Espana cited data published by Standard Life, which revealed that Spain remains the number one retirement destination for Brits - beating Australia, the USA, France and Ireland.

Earlier this month, Adrian Warriner, managing director at Spanish-Living.com, stated that despite the country's economic problems, it is still a popular choice among those planning to move abroad because "it's such an enduring market".

Could Inbetweeners movie boost Mallorcan property market?

Tue, 6 Sep 2011 00:00:00 GMT

Following the revelation that much of British comedy movie The Inbetweeners was shot in Mallorca, rather than Malia - the destination named in the film - one property expert in Spain has claimed it could help boost the market in the area.

Ignacio Osle, sales and marketing director for Taylor Wimpey de Espana, said that as the news trickles out, it could help improve the image of the island.

"Even though [the resort of] Magalluf was not mentioned, it was the unnamed star of the movie and we fully expect Mallorca to feel the new travel trend already taking place in Malia, especially when people find out where the film was actually shot," he stated.

This could be good news for those who own a property in Mallorca, especially if they cover the cost of their second home by renting it out to tourists.

Mr Osle stressed that while Magalluf is seen as a party hotspot among younger travellers, there are many secluded and peaceful locations on the island that are more suited to families or older holidaymakers.

And those keen to buy a home in Spain may decide that now is the best time to do so, after the country's government announced last month that it would halve the value added tax charged on purchases of new-build properties until the end of this year.

Spanish property has 'enduring popularity'

Mon, 5 Sep 2011 00:00:00 GMT

The Spanish real estate market will always attract buyers due to the robust tourism sector in the country, one expert has claimed.

Adrian Warriner, managing director of Spanish-Living.com, commented that buying a property in the nation "remains an attractive option, simply because it's such an enduring market and consistently strong attraction for holidaymakers".

He went on to point out that there are many unfinished and empty properties in Spain - particularly in the coastal areas - with banks keen to offload their stock without further undermining the sector.

Mr Warriner also advised any buyers to negotiate on the price, stating: "You'd be amazed at what some determined haggling can get you at this moment."

Spain was among the nations to see its property prices drop during the second quarter of the year, according to the latest figures published by Knight Frank.

In the firm's Global House Price Index, the country sits in 43rd position out of 50 after seeing values fall by 1.4 per cent over the quarter and 5.1 per cent annually.

Spanish property prices drop

Thu, 1 Sep 2011 00:00:00 GMT

The latest figures published by the Global Property Guide show that house prices in Spain fell by 8.43 per cent during the second quarter of the year, compared to the same period in 2010.

In addition, a quarterly decline of 3.1 per cent was also recorded for the Spanish real estate market.

Spain was named as one of the weakest European countries in terms of the property sector alongside nations such as the Republic of Ireland, Greece, Croatia and the Slovak Republic.

Lower real estate prices may encourage more investors to look into the options open to them in Spain and elsewhere in Europe.

Earlier this month, founder of PropertyJournalist.com Marc Da Silva stated that there are some "wonderful investment opportunities" available in the south European nation.

He explained that because many people in the domestic market are now unable to afford to buy their own home, it is possible to achieve high rental yields due to significant demand for properties to rent.

Affordable beachside properties 'can be found in Spain'

Tue, 23 Aug 2011 00:00:00 GMT

People searching for a Spanish property within easy reach of a beach should be able to find something that they can afford, it has been claimed.

Founder of estate agents Mercers, which is based in Murcia, Chris Mercer noted that there are homes just five minutes' walk from some of the region's beaches on offer for less than €100,000 (£87, 163).

He explained that Mazarron boasts many attractions that make it an excellent location for a real estate investment, including three blue flag beaches, a pleasure marina and numerous shops and restaurants.

Mr Mercer added that property prices are currently lower than they have been for many years due to the country's economic difficulties, but homes in a desirable location can still command a reasonable rental value.

Another area that real estate investors may want to consider is Costa de la Luz, after managing director of Spanish Hot Properties Nick Stuart recently described the coastline as "the Caribbean of the Spanish property market".

Spanish commercial property market improves

Mon, 1 Aug 2011 00:00:00 GMT

The latest European Commercial Property Survey by the Royal Institution of Chartered Surveyors (Rics) has revealed that the Spanish market re-entered positive territory during the second quarter of the year.

According to the figures, the country also saw the number of occupiers looking for space rise for the first time since the report was compiled, lead by a surge in demand for retail outlets.

Meanwhile, investment demand has also improved, with Rics anticipating further growth in this respect over the next three months.

These results are in contrast to the other nations classed as "peripheral" by the organisation - Greece, Portugal and the Republic of Ireland.

All three countries were said to be underperforming compared to the wider European market, with respondents from the locations broadly taking a pessimistic outlook.

Marc Da Silva, a freelance property journalist, recently advised investors to hold off from purchasing residential property in Spain because prices are likely to fall further, potentially offering better deals than those currently available.

Cautious buyers 'flocking back to Spanish property'

Tue, 12 Jul 2011 00:00:00 GMT

Britons are increasingly looking to invest in luxury properties in Spain as they seek the perfect overseas residence.

This is the suggestion of experts speaking to the Manchester Evening News (MEN), who say UK buyers are returning to the Spanish market to find properties that meet their exact requirements.

However, they seem to be taking a much more cautious approach compared with the boom years prior to the credit crunch. The trend has emerged at the same time as the release of a report from the Overseas Guide Company (OGC) revealing an increase in requests for information on the Spanish market.

Marc Pritchard of Taylor Wimpey Espana explained to the MEN: "Location is the key."

Meanwhile, Richard Strappe, investment director of the new residential development at PGA Catalunya near Girona, added: "People still want a place in the sun to escape to, but they now want a lot more."

OGC said last week that 24 per cent more people requested its Spain mini-guide in the first five months of 2011 compared with the same period last year, with company director Kim Brown explaining to A Place in the Sun that the country's weather, lifestyle and established expatriate community seem to be the main reasons for its enduring appeal.

Are more Brits seeking property in Spain?

Fri, 8 Jul 2011 00:00:00 GMT

There are signs that Brits are taking an interest in property in Spain, it has been reported.

Figures released by the Overseas Guides Company (OGC) showed that the number of requests for its publication about buying real estate in the nation rose by 24 per cent between January and May this year, A Place in the Sun revealed.

Speaking to the news provider, director of OGC Kim Brown said: "The country continues to appeal because of its high level of Brits already living there providing a settled community of expats, the weather, the lifestyle and the easy access from the UK."

And there are currently some good deals to find on Spanish homes, with the nation's Central Bank commenting last month that prices may fall further.

In an interview with The Olive Press, director general of economics, statistics and research at the financial institution Jose Luis Malo de Molina said that the high number of unsold properties is continuing to drag values down.

Thousands of new homes unsold in Spain

Thu, 7 Jul 2011 00:00:00 GMT

Figures published by the Spanish government have revealed that at the end of 2010 there were almost 700,000 unsold new homes in the country, AFP reported on Expatica.com.

According to the news provider, the public work, housing and transport ministry announced that this represented a drop of 0.08 per cent over the previous 12 months.

In fact, new home sales in Spain increased by 5.9 per cent during 2010, the first rise following three years of declining transactions.

The Spanish government estimates that the country will not be able to clear the majority of its unsold housing stock until 2014, the agency revealed.

Meanwhile, A Place in the Sun reported figures from Catalunya Caixa Bank last week, which stated that 85 per cent of the homes contributing to the oversupply are located in holiday destinations.

As a result of the glut, real estate in Spain can be purchased for 70 per cent less than its peak market value in some cases.

Spanish property market 'looks bright'

Thu, 9 Jun 2011 00:00:00 GMT

Despite a number of indices suggesting that prices are falling and oversupply is having a negative impact on the sector, one firm has offered a positive outlook for the Spanish property market.

"In Spain things are looking very bright," Dr Dennis Coote, founder of The Hampshire & Home Counties Property Networking Club, said.

"Prices are not going up very fast, but there's a very lively atmosphere. I don't see any evidence of people being hard up here, honestly. It's very much [a vibrant market]," he explained.

His comments follow the publication of new research by the Royal Institution of Chartered Surveyors into distressed property listings.

According to its Global Distressed Property Monitor, Spain has seen one of the largest increases in foreclosed property anywhere in the world, with the firm only expecting the number to increase.

Indeed, in the coming three months, Ireland, Spain, Hungary and Italy expect the highest numbers of distressed properties to come to market, while Russia, China, South Africa and Poland expect the lowest.

Spain sees increase in distressed property listings

Tue, 7 Jun 2011 00:00:00 GMT

Spain has seen a massive increase in its level of distressed property listings, the latest index from the Royal Institution of Chartered Surveyors (Rics) has revealed.

According to its Global Distressed Property Monitor, the pace of economic recovery in many markets and rising interest rates are causing listings to rise.

In the coming three months, Ireland, Spain, Hungary and Italy expect the highest numbers of distressed properties to come to market, while Russia, China, South Africa and Poland expect the lowest.

The news could encourage a number of investors to consider purchasing a distressed property in Spain, with such homes often selling for a price well below actual market value.

"As the global economy continues to strengthen, central banks must begin to address the spectre of rising inflation; a threat which is compounded in some markets by the continuing European sovereign debt crisis," said Simon Rubinsohn, Rics chief economist.

Meanwhile, the report added that in Spain, Ireland, Italy and the UK expected supply far exceeds demand, something which could put downward pressure on values.

Ten Essential Tips for Buying a Property in Spain

Wed, 1 Jun 2011 00:00:00 GMT

For those dreaming of a life of basking in the sun, a retirement or holiday home in Spain may be the perfect solution.

Many people longing to live abroad have reservations about the process of buying a home in another country. The media has released a lot of horror stories over the past few years, thus adding to the trepidation experienced by potential homebuyers. In this article, however, you will find information about the steps you need to take to safely purchase a home in Spain. In addition, you will also learn about some of the things you should avoid during the process.

1. Only use well-established estate agents in your search

Make sure that the estate agent representing your dream home has a long history of quality service. Since there is little regulation for estate agents in Spain, some companies have been known to open for business temporarily, collect money from clients and close their doors, leaving their clients without compensation. Using a reputable, well-established estate agent will allow you to move smoothly through the process without worrying that your funds are in danger.

2. Open a bank account in Spain

If you are planning to move to Spain, you should open a Spanish bank account as soon as you can. Having a bank account in Spain will allow you to easily set up utilities and services in your new home. A large number of companies in Spain will only offer their services if you have an active Spanish bank account, so it is helpful to open one in advance.

3. Locate a well-respected money transfer company

Sending funds through a transfer company can save you a great deal in transfer fees. In addition, you will have access to better exchange rates than you would find with a high street bank. However, it is important that you make sure the company you choose is trustworthy and has a reputation for good service.

4. Retain the services of a lawyer

You should never purchase any property in Spain without first consulting a lawyer. Also, make sure that all relevant documents have been accurately translated into English.

5. Use extreme caution if you intend to buy off plan

As a result of the economic downturn, a lot of Spanish construction companies have closed their doors, leaving their projects unfinished. Buying off plan will remain risky until Spain's housing market makes a recovery. If you do decide to buy off plan, make sure that your builder has a long verifiable history.

6. Obtain a current survey

You should never buy any piece of property without first obtaining a survey, regardless of its location. Before you sign the papers for your new home in Spain, make sure you have an accurate survey completed.

7. If you are not absolutely sure you want the property, do not pay the deposit

Property deposits in Spain are non-refundable, so you should not put any money down until you are positive that you want to purchase the home in question. Most property deposits are 10 percent of the property value, so this will be no small loss if you change your mind.

8. Ask your lawyer to check for debts attached to the property

Under Spanish law, the debt of an individual is attached to their property, rather than to the actual person. Ask your lawyer to verify that there are no outstanding obligations attached to the property. Such debts may include utility bills, mortgages, taxes and community fees.

9. Make an effort to meet local residents

Prior to purchasing your home in Spain, you should do your best to get a feel for the community in which it is located. Get to know the area and find out if there are activities you would like to be involved in after you move.

10. Make provisions for making payments from one country to another

If you will be receiving regular payments from the U.K. while you are in Spain, or if you need to make payments from the U.K. to Spain for your outstanding mortgage, you will need to make sure that you have a money transfer service readily available. Some transfer companies will waive the international transfer fees if you will be a frequent customer. Be sure to verify that the company you choose is reputable and trustworthy before allowing them to handle your money.

If you follow these ten tips and remember to keep your wits about you and not make any rash decisions, buying a property in Spain shouldn’t be as taunting as it may first appear!

Andrew Potter, who works for My Online Estate Agent is the author of this article. My Online Estate Agent is one the United Kingdom's most competitively priced online estate agents and provides all the tools and guides that are required to successfully sell or let your property.

Spain's burgeoning tourist market helping to boost the property sector

Thu, 12 May 2011 00:00:00 GMT

Spain's popularity as a tourist destination is expected to help boost its hard-hit property market.

Between January and March this year, nine million international tourists have already descended on the country, with further arrivals due as the summer months arrive.

The Ministry of Industry, Tourism and Trade revealed that this was an increase of 2.9 per cent over the same three month period last year.

According to the figures, the UK has remained Spain's biggest fan with 1.8 million visitors in Q1. This compares to 1.47 million German and 1.2 million French visitors in the same time.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, confirmed that the Spanish property market has been through a challenging period recently, but the situation is improving.

"Seeing the government and financiers investing in the infrastructure of the province is also immensely reassuring for both current and prospective property owners," he said.

Older Brits increasingly looking to purchase second homes abroad

Sun, 8 May 2011 00:00:00 GMT

A growing number of older British homeowners have a property abroad, new figures from the Office for National Statistics (ONS) have revealed.

One in seven couples nearing retirement age has decided that the best way to secure their future is through a second home, Overseas Property Professional reports.

The ONS reports that a significant proportion of the quarter of a million or so individuals have their second home located abroad.

It could encourage potential buyers to consider purchasing property in Spain.

There are a number of opportunities to pick up a bargain at present, with a number of bank repossessed homes now finding their way back onto the market.

This is the first time that the ONS has worked out how many households between the age of 50 and 64 have more than one property.

And those considering buying abroad were warned last week about the pitfalls of not using a specialist currency broker.

Paul Collins, editor at BuyAssociation, explained that using accredited organisations will help to protect investors from unexpected currency fluctuations.

Spain 'still a popular retirement destination'

Wed, 4 May 2011 00:00:00 GMT

Spain remains a popular retirement destination for Brits, according to the latest figures from a leading property portal.

Taylor Wimpey de Espana reported that nearly a fifth of all their buyers chose the European nation as the place to live out their retirement.

Spain has been voted the number one retirement destination on a number of occasions, most recently by Standard Life in a survey compiled at the end of 2010.

Ignacio Osle, the sales and marketing director of Taylor Wimpey de Espana, explained that the market in Spain has become quite fragmented where some areas are suffering from over supply of new homes.

However, in a number of prime locations there is still high demand and not enough building to satisfy this.

"Across the board, however, house prices have reduced and so those looking to purchase in the best areas can make the most of the current market and snap up excellent value property before the prices start increasing once again," Mr Olse said.

Spanish property set to be popular this summer

Fri, 29 Apr 2011 00:00:00 GMT

Property analysts have forecast that the Balearic island of Mallorca will be this year's hottest Spanish destination.

As confidence in European property markets continue on the road to recovery, a growing number of investors are expected to increase their exposure to the market.

The Balearics' property market remains strong, with a 145 per cent increase in property sales in 2010 compared to 2009 recorded by the Public Works Ministry.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, claimed that it is easy to see why the Mediterranean island is proving popular with buyers.

"Over the last 12 months we have seen both visitor numbers and enquires for property on Mallorca rise steadily," Mr Osle said.

"Buyers from the UK and Europe are not only looking at the traditional property hotspots on the mainland but further afield to Spain's stunning islands such as Mallorca."

It follows a recent study by Aviva which found that more Brits that ever before are considering emigrating.

Some 46 per cent of those questioned by the insurance firm claim that they are considering a permanent move abroad - with Spain one of the most popular countries for relocation.

Brits look to take advantage of cut-price homes in Spain

Wed, 27 Apr 2011 00:00:00 GMT

Interest in buying property in Spain remains high, with a growing number of Brits looking to take advantage of the steady supply of cut-price homes in popular tourist areas.

This is according to international property portal Rightmove Overseas, which noted that the number of enquiries for real estate in the country increased 1.2 per cent between February and March.

Valencia proved to be a popular destination, with a 166 per cent rise experienced, the firm added.

Meanwhile, properties situated within golf resorts are also proving a particular draw, locally-based agent Taylor Wimpey de Espana added.

The firm has seen a 121 per cent increase in enquiries for its range of new-build golfing properties in popular holiday destinations such as Mallorca.

"Without doubt in a holiday home destination such as Spain, properties on golf resorts offer more for the buyer", said sales director Ignacio Osle.

"You tend to find a greater range and quality of facilities such as the club house, restaurants, shops and leisure amenities and of course the golf courses themselves."

'Plan ahead' when investing in Spain

Thu, 14 Apr 2011 00:00:00 GMT

Individuals looking to purchase property in Spain have been told to plan ahead in order to minimise risk.

This is according to Paul Collins, editor of BuyAssociation, who noted that many of the problems that crop up when buying a home abroad can be avoided with a bit of forward planning.

He explained that issues include changes to the country's political situation, as well as legislative changes, such as stamp duty, which can add to the overall cost.

"Most of these things are signalled in advance, so with good research and careful research a lot of these things can at least be prepared for and mitigated in advance," he said.

New figures from the Bank of Spain show that real estate investment in the country climbed 2.9 per cent over the course of 2010, the Press Association reported.

The bank found that the last quarter of the year saw the highest annual improvement in foreign investment, with many industry experts attributing the increase in sales to low prices and promotions by the country's banks.

Brits 'will be' lured back to Spanish property market

Fri, 18 Feb 2011 00:00:00 GMT

Sun, sea and sangria will continue to draw British buyers to the Spanish property market, one leading mortgage provider has claimed.

Claire Nessling, operations director at Conti, explained that despite the sector going through a tough time over the past year, confidence is expected to return eventually.

The comments come after it was revealed that the glut of unsold homes currently for sale is expected to increase, with the country's banks preparing to release an estimated 200,000 distressed properties on the market.

"But it pays to be selective and we'd advise people to look carefully before making decisions," Ms Nessling said.

"There are plenty of bargains available, but the market is sporadic, so any investment should be seen as medium to long term."

According to the latest Tinsa Index, residential prices in Spain were five per cent lower during January than compared to one year ago, meaning that home values in the country are now almost 20 per cent below their peak values seen in 2007.