Real Estate & Rental & Lettings News in Spain from Propertyshowrooms.com

Girona real estate sees higher demand

Wed, 1 Feb 2012 00:00:00 GMT

There has been a rise in the number of overseas buyers looking for properties in certain provinces of Girona, Spain.

PGA Catalunya Resort highlighted research conducted by The Spanish Valuation Society, which found there was more demand from French, Scandinavian, English and Russian purchasers for real estate in Girona in 2011 than in the previous year.

As a result of the greater level of interest in Girona's property markets, prices have remained more stable here than elsewhere in Spain.

Some of the reasons for this include the region's proximity to the coast, its favourable climate and the selection of leisure facilities in the area, PGA Catalunya Resort asserted.

Investors seeking real estate in Spain that is ideal for holiday rentals may also be encouraged by comments made earlier this month by head of Spanish Property Insight Mark Stucklin.

He asserted it is "a buyer's market" in the country, particularly in "consolidated areas that are well-established with a good range of amenities and services".

Holiday home owners in Spain 'need to consider sustainability'

Tue, 3 Jan 2012 00:00:00 GMT

The face of the holiday rentals market in Spain is changing and property investors in the country need to adapt.

This is the opinion of Claus Pedersen, founder of Campaya Holiday Rentals. He has claimed that many properties in Spain and elsewhere are set up for tourists who want a two-week break in the sun, but stressed travellers' priorities are shifting.

He commented that catering for this market "may not be enough to make your property stand out and attract the more niche-minded tourist".

Cultural tourism is one trend in particular to be aware of, Campaya noted, with many travellers now keen to learn about the area in which they are staying and have a more authentic experience.

The organisation has advised anyone considering purchasing real estate in Spain with the purpose of renting it out to holidaymakers to try and cater for more than just one demographic.

Earlier this month, PropertyinSpain.net explained potential buyers are prepared to wait for their ideal asset to come on to the market, highlighting the importance of location to those hoping to generate a rental income from their investment.

Spain 'a top choice among buy-to-let investors'

Mon, 19 Dec 2011 00:00:00 GMT

Spain is one of the most popular property markets for people looking for holiday let opportunities, it has been revealed.

According to the Holiday Lettings' Insight Report for 2011, the nation was the second most-enquired about destination among such investors, after the UK, between January and October this year.

There was also a three per cent rise in the number of queries about buying a property in Spain, compared to the same period in 2010, the survey noted.

Meanwhile, five of the top ten most-enquired about regions are found in the country, with the Costa del Sol leading the way, followed by the Costa Blanca in fifth place, Tenerife in sixth and Mallorca and Lanzarote, which were ranked ninth and tenth respectively.

The firm also highlighted three Spanish destinations where demand currently outstrips supply for holiday rentals, which may make Playa d'en Bossa and San Antonio in Ibiza, as well as Playa Del Ingles in the Canary Islands, safe choices for investors.

Mallorca is one destination that property buyers may want to consider, after Stephen Dight, managing director of Mallorca Sotheby's International Realty, recently stated the number of tourists arriving on the island has increased, which is often a precursor for rising real estate values.

Spanish flatshare rents 'among the lowest in western Europe'

Fri, 25 Nov 2011 00:00:00 GMT

Anyone who buys a property in Spain with the intention of letting it out needs to be prepared for the fact that average rents in the nation are much lower than in the UK.

New research published by EasyRoommate found that rents for flatsharers in Spain stand at around £231 per month, in comparison to the UK where this figure is £360.

The website also revealed that Spanish tenants spend an average of 12 per cent of their salary on accommodation costs, while their counterparts in the UK pay out 15 per cent of their take-home wage on the same expense.

Madrid is the most costly Spanish city for rents, with those sharing a property here paying an average of £304 per month.

However, cities such as Zaragoza and Valencia are much lower down the list, with the typical amount charged standing at £201 and £205 respectively.

Those buying real estate with the intention of targeting the holiday market, rather than domestic renters, may want to bear in mind the findings of a recent study by Campaya.

According to the firm, tourists are becoming much more demanding when it comes to the quality of the properties they stay in during a break, so owners may want to set aside more money for the fixtures, appliances and furniture in their holiday homes.

Madrid office rental rates 'continue to fall'

Mon, 7 Nov 2011 00:00:00 GMT

The latest figures examining the state of the office market in Madrid do not paint a particularly positive picture.

According to the findings from Savills, rents dropped further during the second quarter of this year, with the organisation noting that a "lack of confidence in the future of Spain's economy" is weighing on its commercial sector.

Meanwhile, prime market yields appear to have plateaued at around five per cent, the firm added.

Savills also pointed out that supply of office premises is currently much higher than demand, which is helping to push rents lower.

On a more positive note, the report showed that vacancy rates fell slightly during the second quarter of 2011, compared to the end of 2010.

However, a recent survey by Cushman & Wakefield revealed that despite investment activity in Europe rising overall during three months from July to September this year, the Spanish commercial property sector did not follow this trend.

In fact, the report found that the volume of transactions conducted in Spain during this period dropped by 46 per cent compared to the previous quarter.

Retail investment in Spain falls

Tue, 25 Oct 2011 00:00:00 GMT

The level of investment in Spain's retail real estate sector fell in the third quarter of 2011, research shows.

Data released by BNP Paribas Real Estate found that Madrid has one of the lowest forecasts for activity in the retail market for both 2011 and 2012 among other prime European locations.

One of the problems facing the nation is a decline in rents as occupiers struggle in the tough economic climate.

The Calle Serano/Calle Ortega y Gasset region of the city saw rents drop by four per cent between the second quarter of 2011 and the same period a year earlier, the study found.

Meanwhile, investment volumes in Spanish retail property slid by two per cent in the three months from July to September, compared to 12 months previously.

BNP Paribas Real Estate also published a report into the European hotel investment sector, with Spain among the nations to see a decrease in activity during the first half of 2011.

However, the firm predicted that the second six months of the year would be more positive, with the potential sale of a portfolio of hotels from Hotasa likely to boost transaction levels.

Tourism 'will help drive Spanish property recovery'

Fri, 30 Sep 2011 00:00:00 GMT

The resilience of Spain as a tourist destination will ensure that its property market recovers, one expert has claimed.

Ignacio Osle, sales and marketing manager of Taylor Wimpey Espana, noted the country is set to experience higher growth next year than its European rivals France, Italy and Greece - so property in Spain is still likely to be popular.

He added the "global appeal" of the nation is such that individuals from everywhere in the world will be interested in sampling its traditions and way of life.

"Mallorca is one such destination that has performed better on the property front than its mainland counterparts, offering strong rental market potential," Mr Osle observed.

In August, some 7.64 million foreign visitors were recorded as going to Spain, according to the tourist movement survey from the Ministry of Industry.

Meanwhile, the July General Spanish Real Estate Market Index from Tinsa revealed that real estate values in the Balearic and Canary Islands fell by just 2.5 per cent year-on-year, compared to an average decline of 6.4 per cent nationwide.

Could golf resort properties in Spain appeal to investors?

Fri, 16 Sep 2011 00:00:00 GMT

One Spanish real estate firm has pointed out that properties located on or near Spanish golf courses have weathered the economic storm better than comparable homes on the coast.

This is the assertion of Taylor Wimpey de Espana, which noted that the value of such dwellings fell by a maximum of 20 per cent - significantly better than the 30 to 35 per cent decline exhibited among properties on the coast that are not near a golf course.

Investors may also want to bear in mind the firm's argument that purchasing real estate on a golf course in Spain "can be a very sound investment".

Good year-round weather and the rising popularity of overseas golfing holidays mean that rental income can be generated in every season, the company explained.

Meanwhile, managing director of Spanish-Living.com Adrian Warriner recently noted that the property markets in the Balearic and Canary Islands have fared better than many other parts of the country, with prices falling by just 2.5 per cent over the course of 12 months.

Holiday homes rental market 'set to improve in Spain'

Tue, 19 Jul 2011 00:00:00 GMT

The market for holiday rental properties in Spain is on the up, it has been claimed, with more travellers heading to the Mediterranean for a break.

Chief executive officer of the Travel Rental Network Brian Schwimmer stated that rental values in Spain are on the increase, which could bode well for investors with property in the country.

He explained that many holiday home owners cut their prices dramatically in 2009 and 2010 in a bid to attract more UK tourists; however, a rising number of travellers from all over the world are now heading to Spain.

As a result, "prices are normalising once again, so people expecting the same discounts they saw last year might be in for a surprise," Mr Schwimmer commented.

Research published by the United Nations World Tourism Organisation at the end of last month revealed that international arrivals to destinations in southern Europe and the Mediterranean rose by 3.5 per cent in the first quarter of 2011, compared with the same period last year.

Foreign investors eyeing Spanish property market

Tue, 21 Jun 2011 00:00:00 GMT

Overseas buyers are hoping to snap up some bargain acquisitions in the Spanish property market over the coming months.

In an interview with Reuters, Van Stults, managing director of Orion Capital Managers, revealed that property in Spain is one of the key targets for its European Real Estate Fund III.

He explained that many investors believe that the Spanish economy has reached - or is close to - its low point and that the market will rebound to give buyers returns on their property investment by 2013.

But Mr Stults stressed that ploughing money into Spanish real estate is not the right option for every buyer, particularly those with little experience of the market.

"Rents are soft and [there is] a tremendous consolidation away from secondary and into prime and quality [property]," he stated.

Meanwhile, data published by the National Statistics Institute earlier this month show that the number of buyers purchasing houses in Spain dropped by almost 30 per cent during April, compared with the same month in 2010.

Costa del Sol drawing British property buyers back

Wed, 25 May 2011 00:00:00 GMT

The Costa del Sol has always been one of the best-performing locations in Spain when it comes to property investment.

Boasting one of the best climates in the country, a range of leisure and culture facilities and a growing ex-pat community, it is the ideal destination for Brits to escape to.

Indeed, a growing number of British, Russian and Scandinavian property buyers are beginning to show a real interest in the Costa del Sol. Reductions in asking prices of up to 30 per cent proving too good to miss out on.

Ignacio Osle, sales director of Taylor Wimpey Espana, explained: "2011 has started well. In this first quarter enquiries made by foreign buyers at our office in Benahavis on the Costa del Sol have gone up by 43 per cent, certainly an encouraging sign."

Meanwhile, the tourism market in the country has also showed no signs of slowing down, buy-to-let investors in Spain will be encouraged to hear.

Between January and March this year, Spain received nine million international tourists - an increase of 2.9 per cent over the same three month period last year, data from The Ministry of Industry, Tourism and Trade revealed.

Spain a popular city break destination

Wed, 18 May 2011 00:00:00 GMT

Buy-to-let investors active in Spain will be encouraged by recent comments made by a leading holiday firm.

Premier Holidays has claimed that a city break is the perfect solution for individuals who are hoping to holiday closer to home.

Debbie Goffin, head of sales and marketing at the company, noted that the "short travelling time, makes a European break a perfect alternative to a long haul holiday, offering the chance to explore a new city abroad for a few days".

Ms Goffin added that Spain is always a popular summer destination choice for holidaymakers, with the El Grec' festival, which takes place in Barcelona at the end of June, could see visitors soaking up the "cultural delights".

Figures from the ACI EUROPE Airport Traffic Report for March and Q1 2011 show the overall passenger traffic at European airports increased by 5.4 per cent.

Meanwhile, Peter Mindenhall, researcher at IPINGlobal.com, recently suggested that average Spanish real estate prices are expected to fall further once the country's banks reveal the backlog of distressed property on their books.

Spanish house prices to fall further still

Fri, 22 Apr 2011 00:00:00 GMT

House prices in Spain are expected to continue to their decline for the coming three years, a new poll by Reuters has found.

According to the news provider, the fall is a result of an overhang from the burst property bubble and banks dump unwanted housing stock.

In a poll of 13 analysts, who widely believe that the market has been overvalued even after a 17 per cent fall since 2007, prices were forecast to fall by a further five per cent this year.

Next year, prices are expected to fall by a further three per cent, followed by a drop of a little over one per cent in 2013.

"Prices are strongly overvalued, inventories are still very high, the economic outlook is quite sluggish, the unemployment rate is strong and short-term rates are gradually increasing. The correction of the housing market should thus continue," said Olivier Eluere at Credit Agricole.

The prediction is based on weak domestic demand and the overvaluation of property given rental prices. However, there is also a fear that banks will yet flood the market with even more heavily discounted properties.

Spanish theme park given 2015 open date

Fri, 1 Apr 2011 00:00:00 GMT

A growing number of individuals could be set to invest in the Spanish property market following news that the Paramount Pictures-branded Theme Park is due to open in 2015.

The park, which is located in Murcia, is expected to attract millions of visitors each year and is likely to have a positive impact on the buy-to-let market in the country.

Chris Mercer, director of local estate agents Mercers, noted that the construction of the theme park would also have an impact on the construction sector in Spain, creating around 10,000 new jobs.

"Undoubtedly Paramount will have a positive effect locally - not least on the property market and house values. We have been through some hard times but Paramount's confidence and faith proves that the lure and attraction of Spain will prevail," he added.

According to a forecast made by the Association of Developers and Constructors, there are currently believed to be in excess of one million unsold homes on the Spanish market.

'Choose carefully' when looking for rental property

Tue, 22 Mar 2011 00:00:00 GMT

Individuals looking to invest in property in Spain should ensure that their homes are attractive to renters.

This is according to Jonnie Irwin, presenter of A Place in the Sun: Home or Away?, who noted that rental potential can be boosted by having a theme park or golf course nearby.

In addition, the expert added that it was important to consider how accessible a destination is before purchasing a property there, "start to think about, wherever you are looking, how you're going to get there and how you are going to get back".

"We've all seen people like easyJet pull out of a certain destination," Mr Irwin said. "When that carrier stops taking people to that destination, your rental potential stops, and your accessibility to that destination for yourself stops."

His comments follow a forecast from fellow presenter of A Place in the Sun, Amanda Lamb, who said that popular destinations to buy property include Spain, France, Portugal, Italy and Florida.

Murcia offers 'good opportunities' in Spain

Fri, 4 Feb 2011 00:00:00 GMT

Individuals interested in buying property in Spain may want to consider looking to see what is available in Murcia.

The area has been enjoying an increased interest from international property investors due to its excellent growth potential and investment credentials, an article from Select Property said.

According to the news provider, real estate in Murcia is available at much lower entry levels than the rest of Spain "as it was sheltered from the boom years and as a result, never suffered from rapidly increasing prices and the subsequent over development".

The coastal area in south-east Spain boasts one of the finest climates in the country with uniquely warm winters and a naturally flat terrain, this has helped to attract a growing number of golfing holidaymakers.

Speaking to the news provider, one property professional said: "Encouragingly we are attracting more Spanish buyers than ever before.

"Depending on how a property is rented a long term rental will yield around eight per cent annually. If you are prepared to put in the extra work and go for short term rentals then this could go up to around 12 per cent."

Rental demand to drive Spanish property recovery

Tue, 1 Feb 2011 00:00:00 GMT

The property market in Spain could be set to recover faster than the wider economy, new research has suggested.

German real estate advisor IVG has claimed that low rents in the country, which are attracting an increasing level of demand from tenants, will help to bolster the market and push prices up once again, Reuters reported.

According to the firm, rents in major Spanish destinations such as Madrid and Barcelona have dropped more than 40 per cent since the final quarter of 2008.

"Theoretically, the real estate market always follows in the steps of the wider economy, with a delay of around 18 months," IVG's corporate social responsibility and research head, Thomas Beyerle, said.

"Although rents will likely continue to fall in early 2011, they will soon pick up.”

Meanwhile, the Association of Independent Tour Operators has claimed that British investors are being encouraged to buy property in Spain thanks to some of the great value travel deals that are currently on offer.

High-end Spanish property performing strongly

Wed, 19 Jan 2011 00:00:00 GMT

The top end of the Spanish property market is currently performing strongly, according to one international real estate agency.

Engel & Volkers has claimed that there has been a rise in investor sentiment and confidence when it comes to high-end real estate in the country, with a number of major buyers starting to return to the market.

The real estate brokerage says that a large number of homes with a value of over £3 million have been catching the eye of buyers and are not staying on the market for a long period of time.

Marcus Von Busse, managing director of Engel & Volkers, commented: "Apart from our large sales the average purchase has been around the €800,000 [£675,000] mark.

"Areas that have performed particularly well this year include Barcelona, Marbella and Tenerife. In addition, we are seeing an increased demand for rentals with a trend to offer property either for sale or rent."

Meanwhile, the firm added that they expect that prices will begin to creep upwards once again towards the end of 2011.

UK bad weather set to increase searches for winter sun destinations

Sat, 4 Dec 2010 00:00:00 GMT

The bad weather currently afflicting the UK will encourage Brits to look for last minute winter sun holiday deals, it has been suggested.

According to Round the World Experts, this time of year tends to be very popular for individuals looking to book holidays in warmer weather.

The news is likely to be welcomed by those with property in southern Spain, with the region boasting a much more hospitable climate than the UK.

Paul Bondsfield, head of marketing at Round the World Experts, noted that "the recent snowfall and ice-cold temperatures in the UK will encourage the trend".

"Bad weather combined with the turning of the new year, means we expect to see an increase in people booking longer trips."

Research from Experian Hitwise has found that winter sun destinations have dominated this quarter's fastest movers in the market share of flight searches.

Destinations in India, Morocco, the Canary Islands, Egypt and Turkey were all among the fastest moving destinations in the last quarter.

Renting property in the Costa del Sol 'becoming more popular'

Sat, 11 Sep 2010 00:00:00 GMT

Holidaymakers in the Costa del Sol are turning their backs on traditional package holidays in favour of renting out holiday homes and villas, people with property in the region might be interested to hear.

According to Costa del Villas, the economic downturn, coupled with the ash cloud crisis and strikes by British Airways, have led to people realising that they can build their own holiday for less than the cost of a package deal.

The firm's Steven Jones said: "Renting a holiday home directly from the owner gives holidaymakers access to luxurious accommodation that are normally off limits to high street travel agents. At Costa del Villas we've seen an increase in the number of enquiries for holiday villas whilst many tour operators are struggling to sell packaged deals."

Property investors wanting to take advantage of this trend could make the most of the low house prices in Spain currently, or keep an eye out for any distressed properties coming to the market which are often available at bargain prices.

Spain 'a top retirement hotspot'

Fri, 6 Aug 2010 00:00:00 GMT

Spain is a top retirement hotspot, according to new research.

A study by Standard Life found that the nation is a firm favourite with Brits wanting to spend their later years in a warmer climate, which could be good news for anyone with Andalucia property.

Other nations which proved popular with retirees included France, the US, Canada, Ireland and New Zealand.

Standard Life advised anyone wanting to move abroad that they should do their research first and seek financial advice concerning transferring their pension overseas.

It is also essential to do thorough research into healthcare costs and welfare rights.

Last month, research by cheapflights.co.uk highlighted that Spain is still a top holiday destination for British travellers who can't resist the nation's warm temperatures, beautiful beaches and relaxed pace of life.

The comparison site said that the country's four main resorts of Malaga, Alicante, Palma and Tenerife are ideal for holidaymakers on a budget.

Demand for holiday rental properties in Spain remains strong

Wed, 28 Jul 2010 00:00:00 GMT

People wanting to buy a property abroad to rent out may be interested by the announcement that demand for rental properties in Spain is strong.

It remains the most popular place to rent a home overseas, according to Holidaylettings.co.uk.

The second most popular destination was revealed as France, with property in Portugal and Italy next in line.

The consumer trend analyses have also revealed that there has been a surge in demand for last minute bookings.

This has led to the greatest increase in rental demand for holiday homes in Malta.

"Second homeowners savvy to the appeal of their home to paying guests will do particularly well in these destinations this summer. Short haul sunshine is in high demand alongside value for money accommodation and last minute availability," Ross Elder, managing director of holidaylettings.co.uk, told A Place in the Sun.

Writing on the Telegraph's website, journalist Graham Norwood said that Spanish cities are ripe for second home-buyers.

More Brits looking to invest in property overseas

Tue, 27 Jul 2010 00:00:00 GMT

The number of internet searches by Brits for property overseas has increased exponentially in the last 12 months, according to a study conducted by an estate agent consortium.

Data collected by Primelocation.com shows that June 2010 saw a 151 per cent increase in the number of searches for property in Spain by UK citizens compared to June 2009, reported British newspaper The Telegraph.

Searches for Spanish property accounted for a third of the overall number of overseas housing internet enquiries.

In May, the consortium reported international property searches had increased by an average of 109 per cent between May 2009 and May 2010.

Despite economic worries concerning the eurozone and a potential capital gains tax increase, Spain has remained a popular destination for those Brits searching for overseas property.

Ann Wright, international development manager for Primelocation.com, told The Telegraph: "Spain's main attractions are still the warm climate, great beaches and unique culture. These factors will still draw in international buyers whatever the economic situation."

Spanish property prices slashed

Thu, 22 Jul 2010 00:00:00 GMT

A surge of properties hitting the housing market in Spain has led to a growing number of sellers cutting their asking prices, according to research by Idealista.com.

Since the beginning of 2010, average property prices in Spain have dropped every month as more homes have appeared on the market, reports A Place in the Sun website.

The cities of Madrid and Barcelona have seen the greatest number of asking prices slashed. Prices are down 9.3 per cent in the capital and 7.4 per cent in Barcelona.

With sellers desperate to attract more buyers to the housing market, property prices across Spain have fallen by around eight per cent since the start of 2009, cutting £21,536 off initial figures.

The news comes as British homeowners with rental property in Spain reach the final days to submit capital gains tax (CGT) refunds after the Spanish government illegally charged non-native proprietors high CGT rates than Spaniards. The legal process takes three months and all claims must be settled by the end of October.

Optimism for growth in Spanish property buying numbers

Thu, 24 Jun 2010 00:00:00 GMT

There is optimism that property sales will continue to improve across Spain for the remainder of the year.

Data for June from the College of Registrars showed that sales improved by 16.28 per cent over the first three months of this year in comparison to the final quarter of 2009.

Meanwhile, a 7.04 per cent growth was witnessed in the opening quarter of the year when weighed up with the same period 12 months previous.

Rightmove has also recently suggested that Spain proved the most popular in terms of UK residents looking to buy overseas real estate last month.

Chris Mercer, director of Costa Calida-based estate agents Mercers, is sure that the recent positive signs in the market can continue through the summer and into the rest of the year.

He said: "Based on the number of enquiries we're receiving, we feel optimistic for the rest of the year.

"It seems that would-be Spanish property buyers are fed up of waiting in the wings and now want to make the most of a soft market."

The Rightmove figures showed that Minorca and Marbella were among the most popular areas for searches from UK residents.

Weak euro boosts interest in Spanish property

Tue, 22 Jun 2010 00:00:00 GMT

The Spanish property market is receiving a much-needed boost from British investors looking to buy overseas real estate.

According to Rightmove, the country was the most popular in terms of searches from UK residents last month, with it accounting for 22 per cent of the total enquiries.

The property website claims that Spain's popularity was being enhanced by the current weak euro and more realistic prices being offered by sellers following the market's collapse.

Robin Wilson, head of overseas at Rightmove, said: "May was a great result for Spain, fed by returning confidence among buyers as the bad memories and headlines of last year fade.

"The improving euro exchange rate is definitely playing a part, up ten per cent on January this year and 20 per cent on January last year, meaning buyers' budgets can go further."

It could lead to an increase in the number of individuals looking to search for properties in Valencia, with the destination boasting a strong tourism market which buy-to-let investors could take advantage of.

Spanish real estate values 'likely to fall by a further 20 per cent'

Wed, 16 Jun 2010 00:00:00 GMT

Property values in Spain could fall by a further 20 per cent in the future and the market has not reached the bottom just yet, it has been claimed.

According to property journalist Marc Da-Silva, despite the threat of a further drop in real estate values, the market is likely to remain popular with investors from Britain.

Many individuals are likely to be drawn to the favourable weather, friendly atmosphere and close proximity to the UK.

However, despite his negative outlook for the Spanish property sector, Mr Da-Silva conceded that the current exchange rate was very attractive to potential investors.

"The pound has improved significantly against the euro and, as a consequence, that means it is a win-win situation at the moment for Brits buying in Spain," he explained.

"Spain is a great country and people are always going to buy in Spain. It is always going to be the most popular market with Brits because it is just where Brits go."

Individuals looking to find property in Balearic Islands may be interested to learn that searches for real estate in the region were up 3.65 per cent in May compared to the same period last year, Rightmove Overseas has reported.

Spanish property growing in popularity

Mon, 14 Jun 2010 00:00:00 GMT

Interest in Spanish property rose last month, with an increasing amount of investors looking to purchase Spanish real estate.

The latest index from housing portal Rightmove shows that the European destination topped the list when it came to enquiries.

Among the popular areas of the country were Minorca, which saw a 9.06 per cent rise in searches, Marbella, with 6.68 per cent and northern Spain, which enjoyed a 5.22 per cent growth in interest.

Meanwhile, those looking to find property in the Balearic Islands will be interested to learn that the region saw a 3.65 per cent increase.

"May was a great result for Spain, fed by returning confidence among buyers as the bad memories and headlines of last year fade," Robin Wilson, head of overseas at Rightmove, said.

"Vendors also seem more open and have much-improved realism about prices necessary to make transactions happen."

Earlier this year, the National Association of Estate Agents International warned that putting off investment in Spain and waiting for the market to stabilise would not guarantee a better price.

Further discounts likely to be seen in Spanish market

Thu, 10 Jun 2010 00:00:00 GMT

Property investors looking to buy real estate in Spain may want to take advantage of further discounts which are likely to be seen during July and August, Overseas Property Professional has reported.

According to Ian Waudby, chief executive of Marbella-based Crest Group International, the reductions are likely to be followed by a stabilisation of the market.

Mr Waudby believes that the emergence of discounted property will be caused by Spanish banks looking to offload excess stock which has been in their possession for up to two years.

"They want to get their books into a more manageable form. They're getting rid of distressed properties at whatever price they can get," he told the news provider.

However, the real estate expert suggested that the opportunity to pick up a bargain would not last forever.

"I can see the discounts stopping," he said. "The market will hit the ground floor by October … and then it will stay there for a while."

The news could lead to a rise in the number of individuals looking to search for properties in Valencia, with the destination boasting a rich history which is likely to attract tourists.

Further price falls in Spanish real estate market predicted

Tue, 8 Jun 2010 00:00:00 GMT

Individuals who are looking for rental property in Spain could be interested to learn that house prices in the country are expected to fall further this year.

Mark Stucklin, head of Spanish Property Insight, believes that current real estate values in the popular destination are a tempting proposition for many investors, but more discounts could be seen.

"You are starting to get, not giveaway prices, but really quite interesting prices for property in Spain," he explained.

"The reality of the market is that there are plenty of asking prices which are completely out of whack with the market."

Mr Stucklin's comments come after recent research, published by Standard and Poor's, suggested that prices in Spain are overvalued by about 12 per cent and could fall again by the end of the year.

The news is sure to be of interest to individuals who are looking for Andalucia property, with the region a popular tourist destination.

Furthermore, concerns over currency fluctuations are preventing some British investors from purchasing real estate in Spain, the property expert claims.

Repossessed Spanish property being bought by agents

Thu, 27 May 2010 00:00:00 GMT

An increasing number of property agents are taking advantage of the cheap prices available in the Spanish rental property market and buying real estate, Overseas Property Professional has reported.

The news provider, which conducted some research on behalf of Crest Group International, found that repossessed property in the destination was proving to be popular with agents.

Ian Waudby, head of the group, told the news provider: "There is clearly a high level of interest back again.

"There is a lot of demand but several parameters have to be just right for the sale to work, from finance to the legalities of the sale."

The news comes at a time when the Spanish economy remains in a dire state, with concerns still present about its national debt.

It could lead to an increase in the number of individuals looking at property for sale in Castille-La Mancha, with the region boasting a warm Mediterranean climate.

According to the Association of Independent Tour Operators, Spain is poised to become the top holiday destination for Britons this summer.

'Savvy investors' will be heading to Spain

Sat, 22 May 2010 00:00:00 GMT

Spain is the destination for savvy investors looking to capitalise on bargain rental properties, it has been claimed.

According to Christopher Chadd, head of research at Property Frontiers, individuals looking to the destination will be able to benefit from the heavy price falls incurred within the past two years.

Mr Chadd added that the ever-popular tourist destination currently offers the "greatest bargains for the canny buyer".

The news could lead to an increase in the unber of individuals looking at Canary Islands real estate listings, with potential investors drawn sun-kissed region.

"Spain's future is still uncertain, but homes are now sitting at a price where people can afford to dip their toes back into the market," he added.

PrimeLocation.com recently reported that the searches for real estate in Spain have risen by 123 per cent year-on-year.

Mr Chadd is not the first person to highlight the plethora of bargains on offer in Spain.

The National Association of Estate Agents International claimed earlier this year that now was a good time to invest in real estate in the destination.

Bargain properties could tempt investors to Spain

Wed, 19 May 2010 00:00:00 GMT

Individuals looking for European property may be interested to hear that there are plenty of bargains to be found in Spain.

This is the opinion of Steve Reid, retail director at Clydesdale Bank, who believes that now could be a good time to take advantage of discounts in the country's real estate market.

"With prices in Spain coming down so much there are potential bargains to be had for those looking to buy," he confirmed.

"However, many are intimidated by the idea of dealing with a foreign house-buying process, where different rules and language barriers can add to the stress, and may want to see how Spanish property prices fare."

His comments come after Clydesdale and Yorkshire Banks launched a new service for individuals looking to buy property in the country.

The two organisations are offering UK buyers the opportunity to rent a home in Spain before purchasing it so that they can see how the recovering market fares and reduce risk.

Earlier this month, the National Association of Estate Agents International claimed that not investing in the country and waiting for the market to stabilise does not guarantee buyers a better price for homes.

Bargain properties in Spain 'should be purchased quickly'

Mon, 17 May 2010 00:00:00 GMT

Estate agents have warned that real estate investors could be missing out on bargain foreign properties if they choose to wait until the new government settles before entering the market.

Traditionally, the real estate market sees a dip in activity over the period building up to and just after an election as individuals look for a less risky environment.

However, the National Association of Estate Agents (NAEA) International has warned that putting off investment and waiting for the market to stabilise does not guarantee buyers a better price for homes or a more favourable exchange rate.

With bargain long term rental property to be found in markets such as Spain, now could be a good time to buy.

Peter Bolton King, chief executive of the NAEA International, explained that significant price cuts are unlikely as countries reach the bottom of the market.

"If you can buy now and get into a good negotiation immediately then you're in a strong position to get a real bargain," he added.

"Waiting is risky, as the market is improving and prices are likely to begin increasing in the third quarter of the year."

Earlier this year, property company Savills claimed that canny investors were taking advantage of cheap prices in the country and purchasing discounted luxury homes.

Spanish tourist destination to benefit from redevelopment

Wed, 5 May 2010 00:00:00 GMT

Property companies have given their support to the latest plans to develop the Spanish coastal city of Marbella, it has been revealed.

The mayor of the popular tourist destination, Angeles Munoz, is trying to promote investment in the city by introducing new property rules and improving infrastructure, services and strategic plans in the region.

Property sales in Marbella are already showing positive signs, as in the first three months of 2010 a 200 per cent sales increase was seen in comparison to the same period last year.

"We also have huge opportunities for international tourists that provide fantastic experiences. Without resting on our laurels we must continue to improve our city," Ms Munoz told Overseas Property Professional.

"Our objective is that through this new initiative the infrastructure, services and strategic plans will establish the character of Marbella as an important European city."

Her plans have been welcomed by developers in the city that hope the redevelopment will attract an increasing number of foreign investors.

Rising sales helping to put the Spanish property market back on track

Fri, 23 Apr 2010 00:00:00 GMT

The Spanish rental property market is beginning to head towards recovery following a turbulent year, one expert has claimed.

According to the latest statistics, house sales in the country have been rising at their fastest rate since records began, with an 18.7 per cent increase seen in February compared to the previous month.

Chris Mercer, director of Spanish-based estate agent Mercers, explained that there had been a growth in property sales.

He claimed that the increase was based purely on low prices, with bargain properties proving to be the most popular choices for buyers.

"I expect the Brits to return to the table after the general election, perhaps with a new government, when the mood will undoubtedly become more positive and confidence will come back," he added.

"The increase in sales will continue in 2010, followed by substantially more volume in 2011."

In addition, Mr Mercer predicted that because of cautious bank lending and high unemployment in the country it is unlikely that there will be a substantial rise in prices in the near future.

Earlier this year, A Place in the Sun predicted that Spain would be the best destination for property investors in 2010.

Rising sales and falling costs in Spanish property market

Tue, 20 Apr 2010 00:00:00 GMT

Despite rising sales taking place in the troubled rental housing market in Spain, prices are continuing to fall, new data has demonstrated.

The National Statistics Institute has revealed the latest sales figures for the country, with an increase of 18.7 per cent taking place in February compared to the previous month.

This rise demonstrates the largest growth in sales that the index has witnessed since records began in 2007.

However, despite the renewed interest in the real estate market, Tinsa, which measures house prices in the country, has reported that there has been a 5.3 per cent drop in the cost of property over the last 12 months.

The news may interest individuals looking to purchase property in Spain who may wish to invest while prices are still at a comparative low.

Among the hardest hit regions in Spain were properties on the Mediterranean coast, which experienced price falls of 7.8 per cent year-on-year.

According to Overseas Property Professional, agents and developers in Spain recently announced that they had experienced an increase in the number of properties being sold to overseas buyers in coastal areas.

Potential investors in the region may be interested in news that the Association of Independent Tour Operators believes Spain will be a tourism hotspot this summer.

Traditional destinations like Spain likely to benefit from the economic climate

Wed, 10 Mar 2010 00:00:00 GMT

An increasing number of property investors are returning to traditional and established destinations in light of the current economic climate.

A new survey conducted by HomeAway.co.uk has revealed that this coming year the property market is likely to be dominated by "cash-rich, lifestyle buyers" looking to capitalise on lower prices in popular destinations.

Among the countries likely to benefit from this influx of investors is Spain, where huge discounts and reduced prices are giving canny buyers the opportunity to pick up a bargain.

Charles Weston-Baker, head of Savills International, said: "In 2010, the overseas second home market will be characterised by cash-rich, lifestyle buyers benefiting from lower prices in traditional, established holiday home hotspots."

Meanwhile, the HomeAway survey also found that the attraction of overseas property is still present for many individuals, with a fifth of those questioned claiming that they planned to make additional purchases in the future.

The National Association of Estate Agents International recently suggested individuals looking to buy property in Spain should do so in the early part of 2010.

Low prices and reductions drawing canny investors back to Spain

Mon, 8 Mar 2010 00:00:00 GMT

Now is the time for property investors to take advantage of low prices in the Spanish rental property market, it has been suggested.

According to Savills Select Resorts, an increasing number of luxury properties in the country are being purchased by investors capitalising of discounted homes in the favoured destination.

Savills are quick to point out that many developers are offering attractive financing options to tempt buyers back to the market.

They say: "Exquisite Spanish homes that were unaffordable less than a year ago are now being snapped up by canny investors and lifestyle buyers taking advantage of the lower prices and massive reductions being offered by developers."

Among the more popular destinations are new developments in Marbella on the Costa del Sol.

The La Floresta de la Mairena is the first new project in the region for three years, something that Savills says reflects the increasing demand now being seen in the market.

Furthermore, the National Association of Estate Agents International recently recommended that buyers invest early in the country to take advantage of bargain properties.

Spanish regions posting house price increases

Mon, 1 Mar 2010 00:00:00 GMT

Evidence of the property market in Spain beginning to stabilise can be seen by slight house price increases in the south-eastern city of Murcia, it has been claimed.

According to Facilismo.com, house prices in the region have risen by 0.24 per cent during January, making it one of a select few areas to note housing market augmentation.

Other areas to record growth include Valencia with 0.11 per cent, Cantabria at 0.09 per cent and the Basque Country, which posted a 0.06 per cent gain.

Chris Mercer, director of Mercers real estate agent, said: "This shows a comforting trend towards a stabilisation of the market and the prospect of further price rises, at least in Murcia, over forthcoming months.

"I'm adamant that this market is the most price sensitive I have seen in 27 years dealing in Spanish rental property and this is why Murcia is emerging strongly."

Murcia is the seventh largest city in the country by population and boasts a thriving agricultural industry.

Eurozone property markets boosted by falling value of the euro

Wed, 17 Feb 2010 00:00:00 GMT

The current strength of the euro is having big implications on the property markets in eurozone countries such as Spain, it has been reported.

According to an article in British newspaper the Daily Telegraph, the recent fall in strength of the euro has led to an increasing amount of Brits looking to purchase overseas property.

The slight strengthening of the GBP combined with low mortgage rates and falling house prices on the Continent is seen as an attractive proposition by many.

Claire Nessling, operations director at Conti Financial Services, told the news provider that it had seen an increase in the number of individuals looking for foreign mortgages.

She explained: "[Investors] are already looking to capitalise on low interest rates overseas and cheaper house prices and that is the driving force.

"If the euro dips a bit that will only encourage them more."

The latest Post Office Holiday Money Report said that Spain is the cheapest destination for Brits to visit in the eurozone.

Traditional destination like Spain 'will be popular' in 2010

Mon, 8 Feb 2010 00:00:00 GMT

Traditionally popular destinations are likely to be popular for British investors again in 2010, it has been claimed.

According to property company Property Frontiers, Brits are currently able to pick up "tremendous value" properties in countries such as Spain or the US.

Christopher Chad, project manager at the company, explains that massive price falls in 2010 will help to attract investment from foreign buyers.

He continued: "I would say that 2010 will see an increasing trend for people looking to buy property in the more traditional investment hotspots.

"It is all about looking at tourism trends and recognising where the most likely capital growth is likely to take place."

The news comes after A Place in the Sun predicted that Spain would be the most popular destination for foreign property investment in the coming year.

Meanwhile, the National Association of Estate Agents International recently recommended that early investment in the country was essential in 2010, to ensure buyers were able to capitalise on bargain properties.

Prices up as confidence returns to Spanish market

Thu, 4 Feb 2010 00:00:00 GMT

Confidence is returning to the Spanish property market as one developer starts pushing its prices up.

According to a report on Overseas Property Professional (OPP), a rise in sales of 30 per cent was enough for developer Key Mare to begin increasing its prices across seven separate resorts.

Stefan Kdist, the company's head of international sales, said that a sudden interest from British and Scandinavian buyers in the Almeria region was one of the reasons behind the price hike.

He told OPP: "We wanted to give a signal to people that things are getting better and they should have faith in the situation. Today, people don't feel there's such a risk of losing their jobs as they did a year ago. Most economies are recovering and prices and interest rates are low."

Up until now, the property developer had been following the lead of other firms and offering prospective buyers huge discounts to shift a surplus of unsold stock.

However, OPP warned that this is not the situation nationwide, citing statistics released by the country's housing ministry that show house prices have fallen 6.2 per cent year-on-year.

Almeria is located in south-eastern Spain and has one of the warmest climates in Europe.

Spanish properties to become more affordable

Tue, 26 Jan 2010 00:00:00 GMT

Investors may be interested in reports that Spanish house prices are likely to fall again in 2010.

The news, which was reported by Reuters, may interest those looking to invest in the country as there will be greater opportunity to pick up a bargain.

Jose Manuel Campa, Spain's economy secretary, said that buyers are likely to be encouraged by property prices which are estimated to be similar to 2005 levels.

Government data showed that last year, house prices fell six per cent in the country thanks to the global economic crisis.

"In Spain, property values have still not adjusted to the reality of the market. We think 2010 will be the year prices will adjust," Javier Garcia-Mateo at property consultants Aguirre Newman told the news provider.

Last week the GBP reached its highest point against the euro since August 2008, making eurozone countries such as Spain more affordable.

New flights boost for Spanish investors

Thu, 21 Jan 2010 00:00:00 GMT

Individuals looking to invest in Spain will be encouraged by news that Kiss Flights has announced plans to fly to the country from Glasgow Airport later this year.

The new routes will take holidaymakers to popular destinations such as Tenerife and Malaga, with additional flights to Las Palmas, Lanzarote and Fuerteventura also scheduled during the busy summer period.

Following the collapse of Globespan, which resulted in thousands of holidaymakers being stranded over the Christmas period, the tour operator will take off from Scotland for the first time.

Kiss Flights director Paul Moss said the company was delighted to offer the new flights from Glasgow.

"Since the demise of Flyglobespan we have had unprecedented requests from the travel trade to offer increased capacity from Scotland," he said.

Glasgow Airport has recently agreed to fund a fire safety programme that will help to teach primary school children about the importance of fire safety awareness.

Expert advises caution in Spanish property market

Fri, 15 Jan 2010 00:00:00 GMT

A Spanish rental property expert has recommended potential property investors take time to research their ideal location so they can move quickly when the market stabilises.

Paul Bradley, a spokesperson for the Spanish Property Owners Guild, made the recommendations in response to news that investor interest in the country remains high.

According to Kyero.com, enquires about property in Spain were up 34 per cent in the first week of 2010 in comparison with the same period last year.

Mr Bradley dismissed this, putting the figures down to boredom among Brits surfing the web as an escape from the snow, adding it was unlikely that the high numbers would convert into transactions.

"However it does no harm to research your ideal location so at least you are ready to move quickly," he said.

He went on to suggest that the Spanish property market would fall another seven per cent, advising investors to hang onto their money until the market has stabilised.

According to the latest figures from Property-Abroad.com, Spain is the second most searched for destination for potential property investors.

Spain tops 2009 property list

Mon, 11 Jan 2010 00:00:00 GMT

Spain has transpired to be the most popular overseas property destination for one portal in 2009, despite the market on the ground suffering a poor year.

Property Abroad revealed that the country had surprised critics with its enduring popularity, something that may encourage those thinking of investing in the Iberian nation.

It noted that there has been a drop in sales, but added: "As we and several other portals have found, there still seems to be plenty of people looking at Spanish property."

The US came second in the survey, which the site said was less surprising in view of the large number of repossessed properties available at low prices.

Property Abroad's listing Spanish foreclosed homes is one reason the country did well in 2009, it suggested.

The country's property has been tipped to become even more affordable next year as prices fall.

Spanish real estate expert Mark Stucklin stated in his regular blog for Kyero.com this week that new rules forcing banks to write off ten per cent of the value of homes they have held for a year or more will prompt them to drop prices to cut their losses.

Spanish property 'to become more affordable'

Tue, 5 Jan 2010 00:00:00 GMT

Spanish real estate prices will fall in 2010 as the country's property developers lower their prices to make homes more affordable and correct the market.

Writing for property portal Kyero.com, Spanish real estate expert Mark Stucklin said the main reason for prices not dropping as much as hoped was that the banks and developers owning homes did not want to damage capital ratios.

However, he noted, planned legislation has been announced by the Bank of Spain that will see banks forced to write off ten per cent of the value of any home they have held for a year or longer.

Mr Stucklin suggested this should lead to a drop in prices during 2010, with the possibility that banks may lower the amounts they are asking for ahead of any forced reductions to help bring about sales.

Head of research at overseas investment firm Property Frontiers Christopher Chadd recently remarked that the appeal of the sunny climate will keep luring Britons to France and Spain, irrespective of the state of the global property market.

Key-ready properties 'best bet in Spain'

Wed, 23 Dec 2009 00:00:00 GMT

New residences that have recently been completed are the best kind of real estate in Spain, it has been stated.

Known as key-ready homes, Martin Dell of Kyero commented: "The difference is that these properties are available direct from the developer - who need sales to prevent the banks from taking possession."

These are better bets than repossessed lots being bought from banks, as developers are able to process matters faster and "negotiate from a more realistic property valuation", he added.

Mr Dell noted that buyers looking for long term rental proeprties in Spain are able to push for bargains to the extent that only lets with no reserve price received offers at a recent auction organised by A Place in the Sun magazine.

He revealed that he wrote an article for International Property Journal predicting that overseas buyers will be able to negotiate "aggressively" over prices for Spanish homes in 2010.

Spain's current popularity was emphasised by portal Prime Location recently, which revealed that it was the subject of the most searches of any country in November.

Spain 'still most popular'

Mon, 21 Dec 2009 00:00:00 GMT

Spain is still the most popular destination for overseas property seekers, new research has revealed.

Property portal Prime Location has said that 30 per cent of all searches in November were for Spain, with France in second place on 29 per cent and the US in third with 21 per cent.

The overall tally of searches was up for the fifth successive month and the largest monthly jump was for the US on 47 per cent.

Spain's rise to the top sees it overtaking France for the first time in a year and may be an indication that buyers are seeking to take advantage of low prices there while the country is still in a recession - unlike France.

Kyero.com blogger Martin Dell said this week that the Spanish market is not yet at the bottom, but remarked that there is still much worth buying, as some homes will always offer "long-term desirability and be sound investments".