Real Estate & Other News in Spain from Propertyshowrooms.com

Buying Spanish golf property "a wise move"

Fri, 18 May 2012 00:00:00 GMT

Spain's popularity as a golfing holiday destination makes property within easy reach of a course a good investment.

This is according to Marc Pritchard, sales and marketing manager of Taylor Wimpey de Espana, who explained it has a strong international reputation among golfers.

"It's certainly the most popular European golf location and anyone thinking of buying a golf property in Spain would definitely be making a wise move," he asserted.

Mr Pritchard highlighted figures published recently by KPMG, which revealed almost two-thirds (60 per cent) of the golf tour operators surveyed experienced a rise in the number of bookings for golfing trips in 2011.

There are over 300 golf courses in Spain, with Andalusia in the south of the country a particular hotspot due largely to the warm year-round climate. According to the Spanish tourism association, there are more golf courses per sq m in Malaga and Cadiz - provinces in Andalusia - than anywhere else in Europe.

Santander 'to sell some property assets'

Wed, 19 Oct 2011 00:00:00 GMT

Spanish-based Banco Santander SA is reportedly in talks with two interested parties about selling some of its property portfolio.

Expansion, a Spanish-language news publication, reported on comments made by a source close to the negotiations, who claimed that the major sticking point was over price.

Santander is apparently aiming to sell one-third of its Spanish real estate assets for €3 billion (£2.6 billion) - but so far €1.3 billion is the highest offer it has received.

It is believed that two private equity funds are currently in talks with the financial institution over the sale of its property assets, although neither of these has been named.

Earlier this month, two of Spain's regional governments announced they intended to sell part of their real estate portfolios in a bid to raise money that can go towards cutting their respective budget deficits.

Bloomberg revealed that Catalonia and Andalusia are aiming to offload $1.3 billion (£825 million) worth of property assets by the end of this year.

'Valuation gap' emerging in Spanish real estate market

Thu, 6 Oct 2011 00:00:00 GMT

Banks and investors are clashing over the valuation of Spanish properties, it has been revealed.

According to an article in the Financial Times, there have been instances where financial institutions have refused to sell real estate assets because the price offered by the buyer has been considered too low.

Speaking to the publication, head of Credit Suisse's European real estate group Wences Bunge said: "Sellers have not adjusted expectations to the new reality. But I believe we are starting to see that reality."

He went on to point out that risk-averse investors are staying away from the country's property market, adding that he does not expect this to change over the next year or so.

Representative of Jones Day in Madrid Victor Casarrubios told the news provider that economic uncertainty is causing many buyers to hold back.

Meanwhile, Enrique Marazuela, chief investment officer for the private banking division at BBVA, recently informed delegates at the Reuters Global Wealth Management summit that property prices in some of Spain's coastal regions have reached rock bottom and that transaction levels are beginning to recover.

Outdoor living 'important' to those buying property in Spain

Thu, 29 Sep 2011 00:00:00 GMT

People purchasing a property in Spain often look for homes with balconies or terraces in order to make the most of the better weather, new research has found.

A survey conducted by Savills International and HomeAway.co.uk revealed that air conditioning and access to a swimming pool - either private or shared - are among the other features buyers look for in properties overseas.

Meanwhile, the study also highlighted the importance of being close to amenities, such as restaurants, bars and shops, with the location of a home in relation to these facilities top of the list among UK buyers.

Owning real estate within easy reach of the airport was also popular, due to the reduced travel time this offers.

Research analyst at Savills International and author of the report Rebecca Gill commented: "Strong underlying "lifestyle demand" for a property helps support an investment case. It is these fundamentals that drive longer term capital appreciation and attract rental income."

Spanish Hot Properties recently offered some advice to those considering purchasing real estate in Spain, noting that people looking for an investment will consider different factors compared to those planning to retire in the country.

The organisation suggested that those in the latter demographic are likely to want to be within easy reach of good healthcare facilities, for example.

Spain 'still popular' among British buyers

Wed, 21 Sep 2011 00:00:00 GMT

Spain remains one of the most popular nations among Brits looking for a property abroad, new research has revealed.

Overseas mortgage specialist Conti registered a seven per cent rise in enquiries about Spanish real estate during August, compared to the same month in the previous year, with the country accounting for 31 per cent of all queries received by the company.

France was the only nation to garner more interest from Brits seeking a home abroad.

Clare Nessling, operations director at Conti, commented: "Spain is definitely making a comeback, experiencing a particularly busy August."

She added that this may be because those returning from summer holidays in the country have been inspired to seek out their own home away from home.

Developer Taylor Wimpey de Espana announced earlier this month that it has experienced a significant increase in interest from international buyers relating to property in Spain.

In fact, the company recorded 70 per cent more enquiries about real estate in the nation during the first half of the year, compared to the same six-month period in 2010.

Spain to host Arab Investment Forum

Thu, 16 Jun 2011 00:00:00 GMT

Demand for property in Spain could be set to increase following news that the city of Murcia has been chosen to host the Arab Investment Forum.

The event gathers together over 70 per cent of the Arab world's most prominent investors for two days of networking and discussion, Select Property reports.

Salvador Marin, regional minister of universities, business and research in Murcia said the main objective of the forum would be to "promote investment and the potential of the region".

Event organisers noted that the region has been selected specifically for its economic importance. It has a strong business sector, growing tourism and real-estate sectors and "has many future investment possibilities".

This event is the second in recent weeks in which there has been shared investment sentiment between Spain and the Middle East.

In May, the real estate arm of one of Spain's largest banks travelled to Dubai to hold an investment seminar showcasing a range of properties and assets.

Canary Islands popular with British buyers

Thu, 31 Mar 2011 00:00:00 GMT

Demand for Spanish property could be set to rise following the recent comments of one expert.

Nick Marr, chief executive officer at Homesgofast.com, has claimed that the Canary Islands are currently viewed as one of the best places for foreign property investment.

The expert also suggested that Turkey, Brazil and Malaysia are also top property investment destinations at present.

"Lifestyle buyers, as apposed to investors who wanted to buy a second home in Spain or retire to the region, seem to be quenching their thirst for Spanish property by heading towards the Canary Islands," Mr Marr added.

Meanwhile, it has recently been claimed that the weakness of the Spanish property market and the chance to pick up a cheap home have ensured that Spain remains one of the most popular places for British buyers.

A report by mortgage strategy.co.uk has suggested that the European destination remains the number one place for investors to pick up a bargain.

Sporting events help to boost Spanish property market

Fri, 21 Jan 2011 00:00:00 GMT

An influx of sporting events in Mallorca is expected to have a profound impact on the region's property market, it has been suggested.

The Balearic Island is already known as the birthplace of tennis star Rafael Nadal, while it was recently named as both the start and finish point of this year's Global Ocean Race.

Added to this, the possibility that Mallorca could become a host city for Formula One is sure to attract investors to the region and tempt individuals to buy property in Spain.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, explained that the region was already in a good location and contained much quality property so further international events are likely to just add to the appeal.

"Mallorca's property market has not been affected by the world recession like some regions in mainland Spain. We have had to review prices but due to the lack of stock available compared to the demand for homes on the Island the market has remained really quite buoyant," the expert added.

Distressed properties in Spain to triple this year

Mon, 17 Jan 2011 00:00:00 GMT

The number of foreclosed or distressed properties on the Spanish market is expected to triple by the end of 2011, it has been suggested.

Madrid-based Pisos Embagados de Bancos has claimed that there are currently 100,000 foreclosed homes on the market and by the end of the year this figure will rise to 300,000.

Greg Butcher, founder of Fairhomes Ltd, believes that this problem is only being fuelled by the country's banks which, he says, are still continually overvaluing their stock.

"The problem is that the balance sheets of the banks still look quite healthy as they routinely overvalue their foreclosed property stock," Mr Butcher confirmed.

"In order to do this, however, they’re inflating market prices by 25 to 40 per cent which is not, realistically, going to help shift a glut of hundreds of thousands of homes. Neither is it going to enable us to judge the real price of property in Spain today."

At least 'six years' needed to clear glut of unsold Spanish homes

Fri, 19 Nov 2010 00:00:00 GMT

The glut of homes which currently sit vacant in the Spanish property market will take at least six years to clear, it has been claimed.

This is the view of RR de Acuna y Asociados which believes that rising unemployment is helping to erode demand for real estate in the country, Bloomberg has reported.

Unemployment in Spain has more than doubled in the past two years to 20.8 per cent - currently the highest level in the eurozone.

Spain built more than 29 per cent of all new homes in the EU from 2001 to 2007 and there are now 1.5 million unsold units on the market, Acuna told the news provider.

The firm estimates that home prices will fall by about 20 per cent over the next five years, those looking to buy property in Spain may be interested to hear.

And with existing home prices having already dropped by over 20 per cent since 2007, there could be the opportunity for investors to grab a real bargain.

Lack of housing developments in Spain could push prices down

Thu, 7 Oct 2010 00:00:00 GMT

New data released by the Spanish Ministry of Housing has found that the number of developments started in the country has fallen by 43 per cent compared to a year ago.

A Place in the Sun reports that in total there were 72,491 housing starts over the 12 months to the end of June.

The reduction in the number of starts in the country has been brought about by the massive oversupply of real estate currently available, the news provider states, adding that estimates put the number of empty residential units in Spain at one million.

A lack of developments in the country is also having an effect on the jobs market, with an increasing number of people finding themselves out of work.

This could have a profound effect on the country's economic stability and force housing prices down further still, those looking at Spanish property may wish to know.

Spanish property 'has reached lowest price of the recession'

Thu, 19 Aug 2010 00:00:00 GMT

The Spanish property market's prices peaked in 2006 and have fallen during the recession, which could make now the perfect time to buy.

The New York Times has highlighted the fact that people will now be able to buy a house in the Barcelona area for between ten and 30 per cent less than it would have cost prior to the downturn.

Mark Stucklin, a real estate industry expert, tells the news provider that property prices have probably fallen by as much as they are going to, although the Spanish market is nowhere near a rebound.

According to the news provider, the majority of buyers in Barcelona are local, with only ten per cent coming from outside of the country.

This could be good news for Brits, as a recent survey found that 57 per cent intend to retire overseas, with a quarter of these aiming to spend their final years in Spain.

Presenter ‘is looking for a holiday home in Spain’

Wed, 10 Dec 2008 00:00:00 GMT

Jeff Stelling, the new presenter of Countdown, has said he is looking to invest in Spanish property. The television star, who takes over from Des O’Connor in the Channel 4 quiz show, said that he is considering a property purchase the Mediterranean country. He told A Place in the Sun that the south of Spain...

Stelling explains appeal of Spanish property

Wed, 26 Nov 2008 00:00:00 GMT

New Countdown presenter Jeff Stelling has spoken of his passion for property investment in Spain.

The Sky Sports anchorman, who takes over from Des O'Connor as host of the popular Channel 4 quiz show in January, revealed that he is currently planning to buy a new property in the south of the country.

Speaking to A Place in the Sun, Stelling said that the region's status as a favourite spot for holidaying footballers means he frequently rubs shoulders with Premier League stars during trips to Spain.

He said: "It's lovely and warm down here most of the year, so footballers like to come here - both to train and with their families after the season has finished.

"We've been looking at buying a place in Spain for a long time."

A native of Hartlepool, Stelling is famous for his excitable coverage and encyclopaedic football knowledge on Sky Sports programme Soccer Saturday.

He will become the fourth person to present Countdown after O'Connor, Des Lynam and original host Richard Whiteley.

Visit our off-plan property Spain page.

Benidorm spruces up its image

Wed, 26 Nov 2008 00:00:00 GMT

The Spanish resort of Benidorm has long been notorious for its sex-and-sangria culture but authorities are now coming down hard on drunken and badly-behaved tourists in a bid to...

SKI RESORT TO OPEN EARLY

Sun, 9 Nov 2008 00:00:00 GMT

A spokesman for Cetursa, the company which manages the Sierra Nevada ski resort, has said the slopes could be open to the public as early as November 15th or the 22nd this year if the current low temperatures continue. The resort usually opens in December, snowfall permitting...

Valencia to host October film festival

Tue, 7 Oct 2008 00:00:00 GMT

Owners of buy-to-let property in Valencia may experience a surge in demand for their services in October as film buffs flock to the region’s movie festival.Lasting for one week, the Mostra de Valencia begins on October 14th and showcases some of the best of Mediterranean cinema from the region’s top directors.Organised by the Municipal Film...

Stars Flock To Spanish Film Festival

Tue, 23 Sep 2008 00:00:00 GMT

Javier Bardem, John Malkovich, Ben Stiller and Robert Downey Jr among the guests at Spain's San Sebastián Film Festival...

SAND PROJECT FOR 14 BEACHES

Mon, 8 Sep 2008 00:00:00 GMT

The Junta de Andalucia’s Coasts Department is to spend €5.6 million on sand over the next two years to improve the beaches along the Costa del Sol. A spokesman said 14 beaches will receive some 13 million cubic metres of sand which will come from a new exploitation of the Calahinda Cabo-Pino sea bed. This...

Wind Farms To Provide Almería's Entire Energy Supply

Tue, 2 Sep 2008 00:00:00 GMT

By 2009 all properties and businesses in the Spanish province will be generated by wind power...

DESERT CONTINUES TO CREEP UP

Tue, 26 Aug 2008 00:00:00 GMT

Spain is drying up, according to a report from the National Action Programme for the Fight against Desertification (PAND). The 262-page report warned that 18% of the country is running a high or very high risk of desertification, with another 19% running a medium risk. The areas with the most problems are Tenerife, Gran Canaria...

Expats advised to consider public services

Tue, 5 Aug 2008 00:00:00 GMT

Retirees who are relocating abroad have been advised to check the level of public services in their new home.

According to Age Concern, people who intend to spend their post-working lives overseas need to make sure they have access to vital amenities.

Gordon Lishman, director general of the charity, flagged up healthcare provision as one of the most important issues for retirees to consider.

Speaking to the Bournemouth Echo, he remarked: "Thinking ahead about what health and social care services and benefits will be available may help people to avoid potential problems."

Mr Lishman added that living overseas on a permanent basis is quite different from enjoying a holiday abroad.

Therefore, he said it is important for anyone thinking of making such a move to find out as much as they can about their chosen destination before making any firm plans.

This comes after a study by Saga Travel Money found that traditional hotspots such as Spain are still very popular with older British expatriates.

MORE BARS THAN BANKS

Mon, 4 Aug 2008 00:00:00 GMT

It may not have anything to do with the economic situation but in Spain there are eight times more bars and restaurants than bank offices - 350,000 to 45,000 to be precise. This could mean Spaniards are drinking and eating too much and not saving enough. The figures were published in La Caixa’s 2008 Economic...

BARCELONA FOOTBALL TEAM REFUSES TO FLY AIR BERLIN

Mon, 4 Aug 2008 00:00:00 GMT

The Barcelona football team refused to travel on Air Berlin last week - because the airline has refused to use the Catalan language on routes that begin or end in Catalonia and the Balearic Islands. The footballers were ordered not to board an Air Berlin flight from Pisa to the United States last week, where...

Property buyers drawn to lifestyle attractions

Thu, 31 Jul 2008 00:00:00 GMT

Many overseas property buyers are choosing to buy homes in places which offer lifestyle attractions, according to a new study.

Research by Holiday-Rentals revealed that leisure facilities are one the main considerations for people when choosing their ideal location.

More than two-thirds of second home owners stated that this was a "key motivation" behind their purchase.

Holiday-Rentals said this helps to account for the continuing popularity of Spain, a country which is currently in the midst of a major downturn.

The group added that the appeal of the country among foreign holidaymakers means it still offers strong rental potential.

Greg Grant, managing director of Holiday-Rentals, commented: "We expect to see continued growth in the holiday home rentals market, both in terms of supply and demand."

According to figures from the organisation, 31 per cent of British-owned residences in Europe are located in Spain.

Lifestyle buyers advised to rent out homes

Tue, 22 Jul 2008 00:00:00 GMT

People who have bought a second home overseas have been advised to consider the possibility of letting it out to visitors.

According to Greg Grant of Holiday-Rentals, many overseas property owners are people who have bought a residence for their own personal use.

However, the ongoing economic decline in the UK has meant that a growing number of people have become financially stretched, including those who own a second home abroad.

This has prompted Mr Grant to suggest that people ease their financial burdens by using their property to generate money.

Speaking to the Telegraph, he commented: "Those who have previously kept their homes to themselves may begin renting out to maximise income in these tighter times."

Mr Grant added that the rental yields collected in a single month could cover the cost of maintaining a home throughout a full year.

According to Holiday-Rentals, Spain is currently the most popular location among second home buyers in the UK.

Retiree Reprieve in Valencia

Tue, 22 Jul 2008 00:00:00 GMT

European expatriates in Spain's Valencia region who were under threat of losing free access to healthcare have won a partial reprieve. Restrictions announced last month on the right to state healthcare provision were aimed primarily at non-working expats below pension age.

From June 5, foreign nationals not contributing to the Spanish social security system lost their right to healthcare in the region unless they had one of two forms:

• the E121, issued to British men at 65 and women at 60; or

• the E106, extending access to state health services for up to 2½ years after an individual ceases working.

advertisementHowever, the British Embassy in Madrid advised individuals affected to buy private medical insurance.

Consternation was widespread because some expats would not have budgeted for health cover before moving to Spain. But greater concern was felt by those who could not get private cover because of an established chronic illness, such as heart trouble, diabetes or asthma.

The situation broadly paralleled that in France last year, when President Nicolas Sarkozy made private insurance mandatory for expat early retirees.

The move prompted an outcry from the expatriate community, threats of legal action and diplomatic exchanges between London and Paris.

Mr Sarkozy got his way in the long term, but those already in the system were allowed to continue.

Valencia too has moved to compromise. It is offering early retirees continued access to its hospitals and clinics in exchange for a monthly contribution. Crucially, there will be no discrimination against those with pre-existing conditions.

In addition, Valencia has deferred implementing the plan until January 15 next year. Anyone holding a health card, or SIP, due to expire before the January deadline will have it extended.

Valencia in essence will be running a premium-based state medical insurance scheme for certain expat categories, but without penalising sufferers with chronic diseases.

The big unknown is the size of the monthly contribution, a premium by another name. However, the British Embassy said it had been assured that the sum would be "reasonable and affordable".

The embassy emphasised that expats who had other means of accessing the health system would be excluded from the new arrangements.

Its statement said: "Anyone who renewed their SIP card before June 6, 2008 will have the full 12 months' cover until the card expires - eg, if you renewed your card or joined the scheme in May, you will have cover until May 2009."

The embassy said the regional government believed that about 1,600 Britons were affected.

Chris Barkell, the marketing director of insurer Exeter Friendly Society, which is active in the region, was not surprised by the crackdown.

He said many non-working expatriates under retirement age were not contributing to the health system and were gambling on using a European Health Insurance Card (Ehic). "They have been on a free ride," he said. "The Ehic is intended to cover emergency medicine only."

Full story from telegraph.co.uk

British expatriates in Valencia to get state healthcare once more - early retirees will pay a monthly fee

Tue, 22 Jul 2008 00:00:00 GMT

European expatriates in the Valencia region of Spain have won a partial reprieve in the battle to keep access to healthcare. Restrictions, aimed mainly at non-working expatriates, were announced in June on the right to state healthcare provision. A monthly contribution is now being asked for.

Restrictions on access to state healthcare in the Valencia region of Spain meant that from June 5th foreign nationals who weren't contributing to the Spanish economy needed to have one of two forms to have healthcare in the region, reports The Telegraph. Expatriates, many of them having chosen to relocate permanently to their holiday home in Valencia, needed to have one of the following:

The E121, issued to British men at 65 and women at 60.
The E106, which extends access to state health services for up to 32 months after an individual stops working.

A compromise has now been reached; Valencia is offering early retirees continued access to hospitals and clinics for a monthly contribution. Those with existing illnesses will not be discriminated against. Furthermore, Valencia has postponed introducing the plan until January 15th 2009. It is not known how much the service will cost per month, but it will be "reasonable and affordable", according to the British Embassy in Madrid.

Following June's announcement, the British Embassy advised Britons moving to Spain to buy private medical insurance. There was much criticism of the restriction, as it was thought many expatriates would not have budgeted for health cover before moving to Spain. In particular those who could not get private cover due to chronic illness (heart problems, diabetes, etc.) voiced concern.

The British Embassy stressed that, under the new system, expatriates who had other means of accessing the health system in Valencia would be excluded from the new arrangements. Anyone holding a SIP health card due to expire before January 15th will have it extended.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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Spain Stops Reassurances as Crisis Deepens

Mon, 21 Jul 2008 00:00:00 GMT

Spain's finance minister Pedro Solbes has stunned the markets with an admission that his country faces the worst economic crisis in its history as the full effects of the property crash spread through the economy.

"This crisis is the most complex we have ever lived through given the plethora of factors on the table at the same time," he told Punto Radio in Madrid, breaking with past efforts to put a reassuring gloss on events.

Mr Solbes said the Madrid bourse had suffered an "earthquake", crashing 27pc since the start of June. He blamed the toxic cocktail of high oil prices, the global credit crisis and the sharp slowdown in the key export markets of North America and Germany.

The comments follow this week's bankruptcy of Martinsa-Fadesa, Spain's biggest corporate failure. The property developer - with an empire of housing estates, hotels, shopping malls and hotels - collapsed after failing to refinance €5.1bn (£4bn) of debts. The company's demise was a textbook story of aggressive over-expansion at the top of the cycle, driven by high debt gearing. It has €11bn of assets.

Mr Solbes has pursued a rigorous "no bailout" policy, saying Martinsa-Fadesa took "excessive risks" and must now face the consequences. He has reportedly clashed with cabinet colleagues, who are now searching for any means to stop the downward spiral in the economy.

El Pais reports that house prices crashed by 20pc in the second quarter compared with a year earlier, based on 183,000 completed transactions.

The Martinsa-Fadesa collapse has sent tremors through the whole property and construction sector. The share price of giant developer Sacyr has halved over the past month.

The two banks with most exposure to the Martinsa-Fadesa are Caja Madrid, at €900m, and Banco Popular, at €400m.

Goldman Sachs has issued "sell" recommendations on a clutch of Spanish banks, including Bankinter, Banco Popular and Banco Sabadell, warning that the sharp turn in the credit cycle could prove worse than the recession in the early 1990s. "The consumer is more leveraged today than in any of the previous cycles," it said.

The ratings agency Standard & Poor's has not yet taken a decision on whether to downgrade Banco Popular and Caja Madrid.

In reality, this is unlikely to be the worst economic crisis in Spain's history. Philip II defaulted on his sovereign debts three times in the 16th century after he bankrupted the Spanish Empire to pay for his Counter-Reformation wars against Protestants. He crippled the Italian banking system in the process - much to the benefit of London and Amsterdam.

Full story from telegraph.co.uk

Spain to experience heatwave

Fri, 18 Jul 2008 00:00:00 GMT

The poor weather which has hit parts of southern Europe is set to subside at the end of the week. Countries such as Spain are likely to experience a heatwave from Friday onwards, with temperatures hovering around the seasonal average. Indeed, Angel Rivera of the Spanish Meteorological Office believes temperature levels should go up “considerably” this weekend...

Spain aims to cut energy usage

Fri, 18 Jul 2008 00:00:00 GMT

Authorities in Spain have outlined new plans to reduce the consumption of energy across the country. According to Reuters, rising fuel prices and an economic downturn have prompted the government to look at ways of saving money. Industry minister Miguel Sebastian has therefore stated that he wants the country to cut its energy usage by ten per...

Spain 'offers high life expectancy'

Thu, 17 Jul 2008 00:00:00 GMT

A new study has found that the life expectancy in Spain is slightly higher than in the UK.

Research by uSwitch.com found that a typical Briton lives to 78.9 years of age - a year less than the average Spaniard.

Figures also showed that people in Spain will probably finish working 12 months before their British counterparts at the age of 62.

This means that the average retirement in Spain would last two years longer than it would in the UK.

Commenting on the findings, uSwitch.com said they show that Spain offers a much better lifestyle than Britain.

Ann Robinson, director of consumer policy at uSwitch.com, observed: "We may earn substantially more than our European neighbours but when it comes to quality of life, we remain the 'sick man' of Europe."

Spain was also highly rated for its climate, as it offers 80 per cent more sunshine than Britain.

The country's high quality of living could explain its current popularity with foreign property buyers in the UK.

According to Holiday-Rentals, 31 per cent of British-owned residences in Europe are located in Spain.

Spain offers excellent quality of life-170708

Thu, 17 Jul 2008 00:00:00 GMT

People who live in Spain currently enjoy the best quality of life in Europe, according to new research.

A study by uSwitch.com revealed that the country offers a relatively low tax burden when compared with many other parts of the continent.

Figures also showed that overall cost of essential expenses such as groceries and petrol is also much lower than in other nations.

In addition, Spain was said to offer a number of lifestyle benefits, such as a "generous" holiday allowance and the most hours of sunshine.

Meanwhile, the UK was identified as one of the worst European countries to live in, due to its soaring food prices, rising inflation and the declining housing market.

Commenting on the findings, uSwitch said: "Spain fares well in most categories, with low taxation and cheaper essential goods such as petrol, energy and food."

This could help to account for the popularity of Spain among overseas property buyers from the UK.

According to the Association of International Property Professionals, the country accounted for more than a quarter of overseas purchases last year.

Spanish reality to be found inland, says expert

Thu, 17 Jul 2008 00:00:00 GMT

The real Spain can be found if overseas property buyers look inland and avoid the coast, an expert has suggested...

Increased demand for eco-homes in Spain

Mon, 14 Jul 2008 00:00:00 GMT

The latest trend in the Spanish property market is increased demand for eco-homes, built in an environmentally-conscious way. More property investors want to buy eco-homes in Spain, away from resort developments, in unspoilt, natural locations.

In particular, Murcia is proving popular with property buyers after a Spanish eco-home, reports Homes Worldwide. Planning laws in Murcia specify different zones, protecting the mountain ranges and areas around them.

Estate agent Mike Hamilton said: "Many developers are missing the very real point that increasingly consumers require environmentally-conscious homes with such things as solar power, eco-friendly water conservation methods, and where the environment into which they are moving will remain unchanged.

"For the developer...there is great opportunity to be had in terms of constructing fabulous real estate in an ethical manner that is hugely sought after."

Around the national parks in Murcia, only one property can be built per five acres. This is meant to preserve the natural beauty of the region, Homes Worldwide writes. Some properties in the area have enough land for owners to become practically self-sufficient, and have almond trees and vineyards, which help reduce carbon dioxide.

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Property in Barcelona takes 10 times longer to sell than a year ago

Fri, 11 Jul 2008 00:00:00 GMT

New property in Barcelona is taking 10 times longer to sell than a year ago, says the real estate consultancy Aguirre Newman. Thanks to the Spanish property market crash, developers now take an average of 27 months to sell a new development in Barcelona city, and 28 months to sell in the wider metropolitan area...

Spain Property Market More Transparent

Thu, 10 Jul 2008 00:00:00 GMT

A bit of good news for once. The Spanish property sector has made some progress towards cleaning up its act, according to the latest bi-annual report on real estate sector transparency published by Jones Lang LaSalle, an international property consultancy.

In the 2008 edition of Jones Lang LaSalle’s Global Real Estate Transparency Index, which measures corruption in real estate sectors worldwide, Spain has risen two place from 18th in 2006 to 16th today. As a result, Spain is now rated 10th in Europe, and 16th in a world ranking of 82 real estate markets.

Corruption is not the only variable measured by the index, which also takes into account other factors such as legal frameworks, respect for private property, levels of professionalism, and the availability of reliable market statistics. The improved availability of information, plus greater professionalism in the Spanish property sector lie behind Spain’s rise in the rankings.

The Index, which Jones Lang LaSalle says provides a rigorous framework for comparing the level of real estate transparency across world markets, shows that nearly half of the countries surveyed in 2006 demonstrated a significant improvement in their transparency score two years later.

“Transparency levels globally are improving as governments seek to streamline regulatory and legal hurdles to aid cross-border movement of capital and corporate facilities,” says a press release from Jones Lang LaSalle. “Only Venezuela posted a lower transparency score this year compared with 2006, principally due to changes in government regulations and new taxation policies targeting foreign investors.” In keeping with historical results, Anglo-Saxon real estate markets remain the most transparent in the world. Top of the ranking are Canada, Australia, the US, New Zealand, and the UK, in that order.

Full story from www.spanishpropertyinsight.com

Spain 'not shielded' as house price falls loom

Thu, 10 Jul 2008 00:00:00 GMT

MADRID - House prices in Spain will fall up to 30% in real terms within three years and the property sector faces at least two years of recession, the head of one of Spain's biggest real estate firms, Colonial, said on Tuesday...

Facelift for Costa Beaches

Mon, 7 Jul 2008 00:00:00 GMT

The Junta de Andalucia’s Tourism councillor, Luciano Alonso, said last week that he was looking at ways to give the Costa del Sol a facelift. He told a meeting of the Tourism Journalists’ Association (Apertur) at the Parador de Golf that these would include widening the beaches, recover disappeared green areas and create a variety...

LONG DELAYS AS SPAIN HEADS FOR BEACHES

Mon, 7 Jul 2008 00:00:00 GMT

As the special traffic operation known as “Operación Salida” got under way last Friday, the Traffic Authority estimated that more than 4.3 million journeys would be made on Spain’s roads over the weekend at the start of the summer break. Money is tight and most Spaniards are heading for their favourite beach rather than catching...

Marbella Council turns to PR agencies

Fri, 27 Jun 2008 00:00:00 GMT

As part of the Marbella council’s Tourist Marketing Plan to attract more ‘mid-high spending’ tourists and improve the region’s image abroad, the local government has approved its application to tender for a PR/communications agency to work to this end.

According to Jose Luis Hernandez, tourism councillor of Marbella, the PR initiative is one of the three-part Marbella Tourist Marketing plan being developed over four years. The other two components of this strategy centre around improving quality of build and services offered in the region.

To win the bid, worth €2.4million in total, the selected PR agency must devise a communications strategy outlining how they would plan to give the region widespread coverage internationally to promote the city’s brand and hit back at inaccurate media reports in the world’s press.

The company would also “elaborate and supervise” all city-related press releases, articles, features, statements and interviews and assume the proposal, design, spreading and public relations for events and advertising and marketing campaigns. Additionally the agency must support the organisation of seminars, congresses, symposiums and press trips for relevant media.

Hernandez added that to make the final stages of the tendering process, all communication agencies applying must be “well established nationwide or, if possible, internationally” and that the scheme is being funded, in equal parts, by the City Council Tourism Department and the Tourist Plan subvention.

One of the PR agencies heavily involved in the initial consultation phase of the communication plan was PR firm Max Clifford Associates. The firm’s director and namesake told OPP that his company would not be tendering for the contract as, to have a real impact, it should have been done before its property market suffered a steep decline.

“They [Marbella council] invited me last October to discuss this proposal and said that they wanted to get me involved,” explained Clifford. “I knew what was going wrong. I suggested organising some positive media coverage involving a documentary we were going to make with Simon Cowell and other celebrities that were going to buy out there.”

Clifford, who owns a property in the region, said that six months after the initial consultation phase, a spokesperson told him that it is a great idea but no one wanted to pay for it.

“They were serious about it then, but I explained that the longer you leave it the harder it will be to correct. Fixing this will be difficult but not impossible. If there is a good PR company that uses stars and media outlets to promote the area, educate the travel and property writers and stop programmes like Marbella Belles that were so horrendously damaging, then they can stop the negative perception abroad.”

Story from Overseas Property Professional

Greenpeace Blamed for La Manga Deluge

Fri, 27 Jun 2008 00:00:00 GMT

A group of property developers in La Manga del Mar Menor (Murcia) are demanding that the environmental organisation Greenpeace pay them more than 20 million Euros in compensation for sinking the local property market and causing “prices to plunge by up to 50%”.

The developers accuse Greenpeace of unduly scaring buyers by publishing doctored photos showing the expected effects of rising sea levels on the La Manga strip. The pictures suggest that much of the La Manga strip will be under water if sea levels rise by 0.5 metres, which Greenpeace argues is an “optimistic and conservative” scenario if steps are not taken to head off global warming.

“Greenpeace has manipulated the expected rise, of half a meter, to create alarm,” says Jose Angel Abad, the lawyer representing the developers. “They have sunk the property market: nobody is buying, and everyone is trying to sell.” The developers are threatening to sue Greenpeace for hundreds of millions of Euros if Greenpeace does not agree to their demands for compensation.

Greenpeace argues that the developers are trying to blame Greenpeace for a collapse in the market brought about by their own speculative greed.

“This is unacceptable blackmail,” says Juan López de Uralde, managing director of Greenpeace in Spain. “They are trying to make Greenpeace pay the consequences for the damage they have wrought on La Manga. Be in no doubt that we will not be intimidated by this kind of despicable behaviour.”

Greenpeace originally published the photos in November 2007 in a book called Photoclima, showing the potentially devastating effects of global warming and rising sea levels on the Spanish coast. The flooding scenarios are based on a study by Spain’s ministry of the environment and the University of Castilla-La Mancha, involving several experts from the Intergovernmental Panel on Climate Change.

Along with the La Manga Strip of the Mar Menor, other Spanish coastal areas at risk of flooding from rising sea levels include the Ebro River Delta, Cabo de Gata in Almeria, and large parts of the Costa de la Luz.

Full story from www.spanishpropertyinsight.com

Ronaldo moves one step closer to Real and buys a house in Madrid

Thu, 26 Jun 2008 00:00:00 GMT

Manchester United footballer Cristiano Ronaldo has bought a house in Madrid ahead of his possible move to Real Madrid according to Spanish sports newspaper Marca.

Ronaldo has reportedly bought a property in Madrid's Morajela district. The Manchester United star's reported new house is not far from the president of Real Madrid, Ramon Calderon, and the team's German coach Bernd Schuster.

The Madrid property would not be the only recent addition to Ronaldo's portfolio; in May it was reported that the player had bought a strip of beachfront land on the island of Porto Santo, off the coast of his native Madeira.

The Times further speculates on Ronaldo's future at Manchester United; the Portuguese winger last week announced that he hoped to join Real Madrid, although no formal bid has yet been made.

Although a deal has not yet been officially made with Manchester United, Calderon is optimistic: "If he [Ronaldo] continues to insist on wanting to come and Manchester lets him leave, then we will ask what the price is."

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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EXPO OPENS WITH A SPLASH

Mon, 16 Jun 2008 00:00:00 GMT

The whole Royal Family turned out last Friday for the opening of the Zaragoza Expo 2008 by King Juan Carlos. Most of the government ministers, led by Prime Minister José Luis Rodríguez Zapatero, were also there. For the next three months, Aragon’s capital will be the water capital of the world, as the Expo focuses...

Spanish market 'will recover'

Tue, 10 Jun 2008 00:00:00 GMT

Those thinking of purchasing a property in Spain may be encouraged to learn that experts believe that the market will recover.

Despite a dip due to the credit crunch and an over abundance of Spanish properties and shortage of buyers, it is believed that the balance will return and prices will begin to rise again, according to the Telegraph.

Now may be an excellent time to invest in property in Spain as developers may be willing to sell for as much as 30 to 50 per cent below the asking price.

Brennon Nicholas, a local property industry professional, commented: "We believe the market will come back in the next two years … If we can get the credit crunch out of the way, there are a lot of positive things happening on the coast."

A UK-based private equity firm Benson Elliot Capital Management has recently bought 70 per cent of a Spanish development company in order to take advantage of the drop in the price of real estate in the country.

Traditional European markets attract Britons

Wed, 4 Jun 2008 00:00:00 GMT

New research has found that traditional tourist destinations in Europe are still the most popular options among Britons.

Norwich Union has used its customer information to compile a profile of what it describes as the average British couple.

A typical husband and wife in the UK were said to be called Mr and Mrs Smith, own a Ford Fiesta and live in a 60-year-old house.

In addition, the profile showed that the average British couple takes their summer holiday in Spain every year.

Simon Warsop, spokesperson for Norwich Union, commented: "Contrary to popular belief, it reveals that we are a lot more traditional than we think we are."

Spain is also a hotspot for second home buyers from the UK who want a property in another country.

According to A Place in the Sun, it is currently the most popular destination among property investors from the UK.

Spain 'offers escape from the UK'

Thu, 29 May 2008 00:00:00 GMT

British people who are unhappy with life in the UK could find Spain a good alternative, it has been suggested.

The Spanish Property Owners Guild (Spog) said some people in Britain believe that the country has gone "to the dogs" in recent years.

As a result, many have chosen to pack their bags and set up home in other countries.

Paul Bradley, spokesperson for Spog, said Spain could be the perfect place for people who share this point of view, as it offers a number of lifestyle benefits.

He stated that the low crime rates and relative safety could make it particularly attractive to older people, as it may remind them of Britain in the past.

Mr Bradley commented: "Spain is the quintessential example of how life used to be in the UK, but with nice weather."

This comes after HiFX cited the strong pound, rising house prices and good job opportunities abroad as three of the main reasons for Britons to emigrate.

Spanish market 'will pick up'

Mon, 28 Apr 2008 00:00:00 GMT

Overseas property buyers have been reassured that the Spanish market will pick up again in the future.

The Spanish Property Owners Guild said some consumers' confidence in the country has declined as a result of negative media coverage in the market.

However, spokesperson Paul Bradley insisted that all markets tend to go through "peaks and troughs".

He insisted that the fundamentals which support the Spanish property market, such as its easy accessibility and year-round-weather, will ensure that it remains a hotspot for British property buyers.

Mr Bradley commented: "Spain will continue as a popular venue for both holidays and second home ownership."

He added that the market is currently benefiting from growth in the tourist sector, as visitor numbers have gone up by seven per cent in the last year.

This comes after the Association of International Property Professionals revealed that Spain was the most popular foreign market among Britons in 2007.

Regional UK airport reports increased passenger numbers

Mon, 7 Apr 2008 00:00:00 GMT

A regional airport in the UK has marked its third anniversary by revealing that is continuing to attract more air passengers.

Doncaster-based Robin Hood Airport said passenger numbers for last month were more than 12 per cent higher than they had been 12 months earlier.

Hugh Lang, a director at Peel Airports, praised the airport for this strong growth, describing the size of the increase as "something to be very proud of."

Services to Spain were found to be in particularly high demand last month, which could be due to the fact that Easter fell in March this year.

According to the Association of British Travel Agents, Spain was the "outright favourite" for Britons who chose to venture abroad during this period.

This verdict is reflected in Robin Hood Airport's list of the five most popular services in March.

Direct flights to Alicante occupied the top spot, while routes to Malaga and Tenerife were listed in fourth and fifth place.

Cheap foreign property attracts first-time buyers

Fri, 4 Apr 2008 00:00:00 GMT

Cheap property prices overseas are proving to be very enticing to first-time buyers in the UK, according to an expert.

Paul Collins, property editor of the BuyAssociation website, said that many people are having difficulty in getting on the British housing ladder because house prices are too high.

This has led to many people seeking various means of generating wealth to afford a purchase, including investing in a foreign property market.

Mr Collins said that places that offer relative bargains have proved to be especially popular, particularly those where prices have been going up quickly.

He commented: "They're finding that it’s better off going overseas and building up a little more equity and owning a property."

Mr Collins added that Spain has been one of the most popular locations among this group of buyers during the last few years.

Fair Investment Company recently revealed that nearly one in ten first-time buyers have already bought their first property overseas, while 44 per cent are thinking of doing so.