Real Estate & Property Investment News in Spain from Propertyshowrooms.com

Spain posts housing sales increase as 'investor confidence returns'

Thu, 11 Mar 2010 00:00:00 GMT

The Spanish property market has posted its first rise in house sales for three years, it has been announced.

Figures revealed by the Ministry of Housing show that sales in the country were up by 4.1 per cent year-on-year during the fourth quarter of 2009 and could represent a return in interest to the economically-troubled destination.

Speaking to Overseas Property Professional, many developers and agents reported that they had experienced a rise in the number of sales and enquiries they had dealt with surrounding the popular European destination.

Alfredo Milla, director of international investments at Mediterranean, told the property website that there was a feeling that the economic climate was improving.

"We believe that the confidence is returning to the international buyers as they can see the great offers that are now available in Spain.

"With a lot of European countries predicted to leave the recession this year there is not so much financial fear."

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

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.

'Canny investors' will take advantage of Spanish market

Sat, 20 Feb 2010 00:00:00 GMT

The Spanish property market will provide investors with some "fantastic opportunities" later this year, it has been claimed.

Despite still being in a relatively poor condition, the real estate market in the country will present careful and astute buyers with some bargain properties.

According to Mark Stucklin, head of spanishpropertyinsight.com, the weak economy could mean buyers are able to make a shrewd investment purchase in the popular European destination.

He explained: "In this year and next year, there are going to be some fantastic opportunities to buy really great quality property at a great price - taking advantage of this depressed market. That is what the canny buyers will be doing."

Mr Stucklin recommended buyers stick to prime locations when it came to buying property, taking advantage of prices which "are basically back to where they were eight to ten years ago".

Earlier this year, A Place in the Sun predicted that Spain was the best destination for property investment in 2010, despite figures from the Instituto Nacional de Estadistica revealing that the economy had decreased by 0.1 per cent and remained in recession.

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.

Things are looking up for the property market in Spain

Sat, 13 Feb 2010 00:00:00 GMT

The latest figures have revealed positive signs for the property market in Spain, with re-sale prices rising for the first time in 24 months.

Property portal fotocasa.es has reported a 0.6 per cent average price rise within the country, with some regions posting improvements of almost five per cent.

According to property news website Property Wire, Chris Mercer, director of Mercers property agents, said that the figures are an indication of life coming back to the market, but he warned that it still remains very price sensitive.

He continued: "If you've got a 20 per cent deposit then the rent will comfortably pay the mortgage and as you're truly buying at the bottom of the market, you have an asset that will certainly appreciate in years to come."

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.

Current exchange rates and falling prices attracting investors to Spain

Tue, 9 Feb 2010 00:00:00 GMT

Property searches are up for Spain as investors look to capitalise on falling prices and favourable exchange rates, it has been claimed.

According to British newspaper the Financial Times, many agents have said that price falls in Spain are drawing investors back to the country.

Furthermore, thanks to a strengthening GBP, Spain has become eight per cent cheaper for Brits in the last 12 months.

The number of people searching for properties in Spain in particular rose by 48 per cent in the same period, while they were up 341 per cent since December 2008.

Ann Wright, of property website primelocation.com, told the paper: "Interest in overseas property has shot up in recent months.

"The encouraging signs of recovery in the UK property market and economy and the resulting upturn in consumer confidence appear to have had a knock-on effect on the overseas market."

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

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.

Falling prices could tempt investors to Spain

Wed, 3 Feb 2010 00:00:00 GMT

Falling prices in Spain could make it an ideal destination to pick up a bargain property, it has been reported.

According to a report in British newspaper the Independent, prices in Spain have fallen eight per cent since September 2008.

Property portal Property Ventures has recommended Spain as one of its European and Mediterranean "hot-spots" for 2010, citing the fact that the country is still one of the most popular destinations for tourists from the UK.

The portal says that there are around 1.6 million potential apartments and houses on the market and as such, discounts are widely available to purchasers.

Louise Reynolds, a director of Property Venture, believes that despite Spain's recent economic struggles, its popularity with tourists should help the market.

She continued: "Discounts on seaside property developments mean that there are some great purchasing opportunities."

Research conducted by Skyscanner showed that destinations in Spain were the most searched-for holiday spots on the internet by Brits last year.

Early investment in Spain is recommended

Tue, 2 Feb 2010 00:00:00 GMT

Individuals looking to invest in Spanish property should do so in the early part of 2010, it has been suggested by a property expert.

Des Rowson, spokesperson for Spain at the National Association of Estate Agents International (NAEA), believes that investors should buy quickly to capitalise on rising house prices in the country.

He concedes that the Spanish market endured a difficult 2009, but highlighted the fact that bargains are still available.

Mr Rowson stated that it was unlikely there would be a considerable change in the market until the GBP strengthened and confidence returned among purchasers, but noted that house prices are expected to rise around three per cent over the course of the year.

"So if you are thinking of purchasing a property, do so in the early part of 2010," he noted.

The comments come after NAEA released their predictions for the global property market in the next 12 months.

According to property portal Property Abroad, Spain was the most popular destination for investors in 2009.

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.

British property investors take advantage of improved exchange rate

Mon, 25 Jan 2010 00:00:00 GMT

A currency broker has seen a large increase in the number of British investors purchasing euros for foreign property purchases.

World First has reported a 40 per cent rise in the number of its clients taking advantage of the improved exchange rate, and a 24 per cent rise in new enquiries for the currency.

This could be a boost to the property market in Spain where falling prices and the poor GBP to euro rate have been keeping investors away.

World First's head of private clients Elisabeth Dobson told Overseas Property Professional that: "A number of our clients in the market for euros are taking advantage … and buying their euros for overseas mortgage payments, property purchases etc now."

For the first time since August 2008 sterling has reached a rate of EUR 1.15, something which OPP put down to a run of good news for the UK economy.

Jeremy Cook, World First chief economist, believes the GBP could be up to EUR 1.22 by the end of 2010.

Property Abroad recently revealed that Spain remained the most popular country for British investors in 2009.

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.

Fractional ownership development opening in Spain

Wed, 20 Jan 2010 00:00:00 GMT

A new development set to be launched in Spain will offer homes for sale on a fractional ownership basis.

David Lloyd Resorts is launching a new development at Desert Springs Resort in Almeria next month, giving investors the opportunity to buy four-week shares in apartments and townhouses located on the site.

The company plans to build a network of fractional ownership developments across the world, in countries such as Canada, Thailand, Barbados, Cyprus and Turkey.

Speaking about the proposed development in Spain, Simon Coaker, sales and marketing manager at Desert Springs, said: "David Lloyd Resorts uses this principle to provide individuals with the opportunity to share in, and enjoy, exclusive property ownership that may previously have been unobtainable as a sole investor."

According to Nick Lawrence, sales and marketing director of David Lloyd Resorts, the company plans to sell the properties after ten years, returning the proceeds to the owners in a manner proportionate to their original investment.

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.

Best destination for emigration 'a matter of taste'

Wed, 30 Dec 2009 00:00:00 GMT

Those looking to move overseas should weigh up a number of factors before choosing where to go, it has been suggested.

Expat magazine Shelter Offshore advised those considering emigration to make a list of what matters most to them, as issues such as weather, accessibility to and from Britain, the cost of living, the quality of life and language may affect various people in different ways.

Other concerns listed include the security situation and the question of what sort of neighbours those moving wish to have - particularly in places where there is the option of living around other expats.

Such a country is Spain, which would appeal to those whose tick-list partly comprises sunny weather and ease of travel back to the UK.

Head of research at Property Frontiers Christopher Chadd recently predicted that the country will remain a favoured location alongside France due to its proximity to the UK.

He said: "The continued accessibility of France and Spain mean the popularity of these destinations will only continue to grow."

France and Spain 'to keep getting more popular'

Fri, 25 Dec 2009 00:00:00 GMT

France and Spain will see further rises in popularity among overseas investors next year, it has been predicted.

Head of research at overseas investment firm Property Frontiers Christopher Chadd remarked: "No matter what is happening in global property markets, nothing speaks to the British investor's heart as much as owning that second home in the sun."

It is the "accessibility" of France and Spain that will help these countries to grow in popularity, he predicted.

Mr Chadd added that when it comes to investing overseas, changes in exchange rates are having a significant impact on the decisions being made by those looking at purchasing abroad.

This was leading to many investors seeking advice from the company on currency trends, he noted.

The expert's comments follow recent news from investor portal Primelocation.com, showing that Spain is now the number one destination for online searches.

It pushed France into second place after its Gallic neighbour had been top of the list for the previous 12 months.

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".

France and Spain high on overseas residence figures

Mon, 21 Dec 2009 00:00:00 GMT

New European Union (EU) figures have shown that France and Spain are among the countries with the most foreign citizens living within their borders.

The data revealed that there are 30.8 million foreigners living in EU states, of whom over a third are from other nations within the 27-country bloc.

Although the largest proportion (43 per cent) is in Luxembourg, the highest absolute numbers are in Germany, followed by the UK, France and Spain.

France has 3.7 million and Spain 3.4 million non-nationals, with 1.3 million and 2.1 million from other EU states.

Britons may make up a large proportion of those residents, with fellow Europeans adding to the tally of people enjoying living in property in such countries.

The November figures from Property portal Prime Location revealed that Spain was ahead of France for searches for the first time in a year, with 30 per cent compared to 29 per cent for its gallic neighbour.

Irish recovery leaves Spain behind

Mon, 21 Dec 2009 00:00:00 GMT

Spain is now one of the few eurozone countries still in recession after news emerged that the Republic of Ireland has seen a return to economic growth.

Fresh figures revealed that Ireland's gross domestic product increased by 0.3 per cent in the third quarter of this year, a situation that leaves Spain and Greece among the few users of the euro still in a downturn.

Those keen to invest in Spain may wish to take advantage of the evident greater weakness of its economy to pick up bargains while such problems feed into lower property prices.

Eurostat figures for Spain in the third quarter published earlier this month revealed a 0.3 per cent decline.

However, those hoping an economic turnaround will help property investments to gain in value may take heart that this fall followed declines of 1.1 per cent, 1.3 per cent and 1.1 per cent in the previous three quarters.

Spanish property 'approaching bottom'

Wed, 16 Dec 2009 00:00:00 GMT

Spanish property prices are still falling, but not as fast as before, it has been claimed.

Writing his regular blog for Spanish property news website Kyero.com, Martin Dell noted that the Tinsa statistics have proclaimed prices to be rising again.

However, people should be "cautious" about such figures, he argued, suggesting that the real situation is one of slowing decline.

The good news is that such a trend will see the "true bottom of the market" being reached in a few months, Mr Dell predicted.

Picking up on another article written about the Spanish housing market recently stating that parts of it still offer good prospects, Mr Dell agreed, stating there are sectors that will always provide "long-term desirability and be sound investments".

The key is to buy in the right areas, he concluded.

Earlier this month, a Financial Times feature pinpointed Galicia as an emerging region for buyers in Spain, with attractive beaches and scenery, plus improving transport links both withinteh country and to and from the UK.

Low-cost airline in Spain boost

Fri, 11 Dec 2009 00:00:00 GMT

Spanish property seekers may be boosted by news that budget airline easyJet is to add more flights to the country from Robin Hood Airport, near Doncaster in South Yorkshire.

The carrier has revealed today that its new routes will go to Barcelona and Palma from next April, along with several other European destinations.

UK regional manager for the airline Paul Simmonds commented: "By operating services from Doncaster Sheffield Airport, easyJet can now tap in to the attractive Yorkshire catchment area and major conurbations such as Sheffield, Doncaster, Barnsley Rotherham, Hull, Worksop and Wakefield."

Such a move could help more people from the South Yorkshire and east Midlands areas to get to Spain easily, should they wish to invest either in the island attractions of Majorca or the city life of Barcelona.

Spain is likely to see large numbers of Britons visiting over Christmas and the New Year, the airline stated this week.

It said Barcelona, Malaga and Alicante are among the top ten destinations for those keen to enjoy the festive period overseas.

Galicia 'offering best of Spanish property'

Wed, 9 Dec 2009 00:00:00 GMT

Some of Spain's best rental property prospects may be found in Galicia, it has been stated.

In a feature on the trend, the Financial Times observed that buyers are increasingly eschewing the Costas in favour of the region, which with the paper commenting that the north of the country has some high-quality landscapes and beaches.

The news provider quoted Clive Robbins at Blakemore Walker Chartered Surveyors, who praised the region.

He said: "Galicia has been an area that the foreign purchaser has focused on for some time now and the interest remains relatively high compared with other parts of the northern Spanish coast and region," going on to say that the natural landscape is "outstanding".

The paper also noted that the region has been gaining from better transport links by air and motorway, plus greater ferry access after both Brittany Ferries and P&O increased their services from the south coast of England.

Martin Dell of Kyero.com predicted last week that falling prices in Spain will soon generate a surge of investment from bargain-hunting investors.

Spain tipped for buyer boom

Wed, 2 Dec 2009 00:00:00 GMT

A continuation of Spanish economic woe and recovery elsewhere will see more investors buying into the property market there soon, it has been predicted.

Martin Dell of Kyero.com said that the Spanish labour laws are unfriendly to employers and this is contributing to the high unemployment rate in the country, which he argued is in turn hampering the wider economy.

He suggested that this will push house prices down further, while at the same time other European countries are recovering, leading to a situation whereby more overseas investors will "pounce" on a market full of bargains soon.

Mr Dell stated that this is already apparent at the "top end" of the market in Spain and is gradually working its way down to the "mainstream".

Earlier this week, editor of A Place in the Sun Magazine Richard Way predicted that Spanish properties will continue to be popular with Britons seeking a holiday or retirement home in the near future.

Spanish property to remain popular, says expert

Tue, 1 Dec 2009 00:00:00 GMT

Falling house prices in many countries - including Spain - will not prevent Britons from buying there, an expert has said.

Editor of A Place in the Sun Magazine Richard Way argued that the findings of the latest Global Property Guide showing that 17 of the 27 nations featured are still seeing values dip is only a problem for highly leveraged people who bought at the top of the market in 2007.

It is not a reason for concern "if you're looking to snap up a holiday home abroad primarily for lifestyle reasons but with an eye on long-term investment", he added, suggesting those looking for a bargain should do so now.

Mr Way predicted that Spain will remain one of the most popular places for Britons to buy a holiday or retirement home.

Countries that did see prices increase in the Global Property Guide third quarter survey included Portugal and Australia.

Spain 'already recovering'

Fri, 27 Nov 2009 00:00:00 GMT

The Spanish property market is already starting to recover, an expert has said.

In an interview with Kyero.com, head of Spanish real estate consultancy Irea Mikel Echavarren stated that prices have already dropped as low as they will go and anecdotal evidence in the sector has indicated that the level of transactions is going up.

However, he commented, this revival of the market will not appear in official data "until the first half of 2010".

"As soon as there is a general perception that things are getting better, house prices will stop falling and start rising," Mr Echavarren added.

The expert commented that official statistics in the country have been "worthless", because they have understated how much prices have fallen.

Spanish property remains popular among Britons seeking to live there, it has been noted.

Real estate firm Primelocation.com revealed that the country accounted for 26 per cent of online searches in 2009, the second highest number for any nation.

Spanish rental property 'on the rise'

Thu, 26 Nov 2009 00:00:00 GMT

Spanish rental property is on the up again as demand for holidays returns there, it has been noted.

Spokesman for the Spanish Property Owners Guild Paul Bradley said the rate of bookings for rental property in the country was up in October and is ten per cent up for 2010, as demand from sun-starved northern Europeans returns.

He advised that those looking to buy properties to let to tourists to ensure they have "excellent rental qualities to justify a purchase", noting that "capital gains are not expected for at least four to five years" as a backlog of unsold properties remains to be cleared.

Mr Bradley noted that the lowest prices would be available from Britons needing to offload their homes, while Spaniards have a tendency to raise prices when they fail to get a sale.

A recent uSwitch survey of the best countries in Europe in which to live noted that Spain has the most sunshine at 2,655 hours per year on average - something that may aid its enduring popularity with tourists.

Rental tip for Spanish property investors

Wed, 25 Nov 2009 00:00:00 GMT

Renting before buying is a good way for those thinking of an investment in Spanish property to see if they like the experience before committing to spending money and changing their lifestyle, it has been suggested.

Spokesperson for the Spanish Property Owners Guild Paul Bradley said: "Rent first [to] see if you like it in the long-term. Then with increasing local knowledge you will be more qualified to make a more informed long-term decision."

He suggested this was one valuable way for those contemplating retirement to the country to consider, while noting that other matters should also be looked into.

These included the type of property and its suitability for older people - such as the number of steps - as well as circumstantial changes like regularly dealing with non-English speaking medical staff.

Last month, a uSwitch.com survey of the best countries to live in across Europe listed France and Spain as the top nations to reside in.

Spanish property 'is price-sensitive'

Tue, 24 Nov 2009 00:00:00 GMT

Spanish property can still sell - but only at the right price, it has been stated.

Director of real estate company Mercers Chris Mercer said that the company found this when looking to sell off a home, discovering that there was little interest until the price was lowered.

Discussing the property, located in the town of Vejer de la Frontera, he noted that this "was priced at EUR180,000 (GBP162,000), but after consulting with Mercers a motivated vendor reduced the property to EUR 150,000"

This took place at the La Noria development, at which Mr Mercer stated further discussions led to some properties being offered at 42 per cent discounts compared with their 2007 asking prices.

He concluded that there is a market for homes, but buyers are "ultra price-sensitive" at the moment.

Such a situation may be ideal for those looking to find a Spanish bargain.

Earlier this month, Kyero.com blogger Martyn Dell commented that auctioned properties represent the best value in the country at the present time.

Spanish golf properties 'enjoy premium'

Tue, 24 Nov 2009 00:00:00 GMT

Properties with a view of a golf course enjoy a 20 per cent premium over similar homes that lack this, it has been noted.

In a feature on the appeal and value of golf properties, the Times quoted figures from developer Clutton Resorts stating that such a price differential exists.

The paper stated that this is beneficial for Spain, with KPMG's Golf Advisory Practice stating that the country is tipped to be second only to Portugal as a golf property destination.

One location suggested by the news provider as a good investment for a family in which Dad tends to be an occasional golfer is the Desert Springs resort in Almeria.

This has two-bedroom flats with discounted prices starting at GBP198,000.

Those looking to buy a property in Spain will find that the banks there remain willing to offer home loans to overseas buyers, mortgagesolutions.com revealed last week.

It remarked that investors would be "surprised" at what is on offer and said that with prices having fallen the prospects of owning property abroad "may never be better".

Spanish banks 'willing to lend mortgages'

Mon, 23 Nov 2009 00:00:00 GMT

Spanish property investors may be "surprised" by how willing the banks there are to lend to overseas buyers, it has been noted.

In a feature on international homebuying, mortgagesolutions.com said that with prices falling, the chances of owning a residence abroad "may never be better".

The portal added that overseas mortgage brokerage firm Conti has seen 1,000 new intermediary registrations as agents seek to go down this route and has stated that some property prices in Europe have fallen by as much as 40 per cent.

It suggested that such a drop made them bargains despite the dip in value of sterling against the euro, commenting that 22 per cent of enquiries have been for Spain, "despite all the recent doom and gloom about the Spanish property market".

Last week, Mark Stucklin of Kyero.com suggested the sector in the country is splitting into two, with the best properties now seeing their segment of the market reviving, while low-quality homes will remain very hard to sell, even at reduced costs.

Tax boost for Britons investing in Spain

Fri, 20 Nov 2009 00:00:00 GMT

Britons who have invested in Spanish properties since 1997 could be due for large refunds after a legal judgement that they have been overtaxed.

The European Court of Justice has confirmed a decision that means Britons may be able to claim back up to £283 million in capital gains tax charges, due to the discriminatory way the levy was implemented.

UK citizens and other non-Spanish buyers were charged 35 per cent, compared with 15 per cent for Spaniards.

As well as netting a windfall for those who bought and then sold their Spanish properties, such a move could also benefit those buying now, as it means that in future they will not be charged more than Spanish nationals if and when they sell a property on.

Those wishing to purchase a home in Spain should look at auctioned properties as the "best" deals currently available, writer for property portal Kyero.com Martin Dell said this week.

He was commenting after A Place in the Sun announced that it is holding an auction of 60 homes next month.

Auctioned property 'among the best' in Spain

Wed, 18 Nov 2009 00:00:00 GMT

"Key-ready" properties in the Spanish Costas represent some of the best bargains in the country, it has been argued.

In his latest blog for property portal Kyero.com, Martyn Dell noted that A Place in the Sun is to hold an auction of 60 such homes next month.

These residences will be in Costa Blanca, Costa del Sol and Costa Calida, with discounts of at least 50 per cent, including some houses with no reserve price at all.

Mr Dell said these are the best types of investment in the country at present, adding: "If you are serious about buying in Spain, make sure you put the auction in your diary."

He also suggested that air access to such areas may improve as a result of the merger agreed in the last few days between British Airways and Spanish carrier Iberia, with the possibility that this will lead to more flights between Britain and Spain.

The same portal reported earlier this week that the country has seen a slowdown in the rate of economic decline, news that economy minister Elena Salgado commented that she was "satisfied" with.

Should the end of the Spanish recession come soon, this may help boost the property market there.

Spanish encouraged by slowdown in decline

Tue, 17 Nov 2009 00:00:00 GMT

Ministers and officials in Spain have been encouraged by the slowdown in the rate of economic decline in the country.

While Spain is still in recession, the level of contraction in the three-month period to September was smaller than in the previous quarter and the country's Statistics Office said this was due to "a less negative contribution of domestic demand and a positive contribution of exterior demand", Kyero.com reports.

The portal also noted that economy minister Elena Salgado has declared herself "satisfied" by the figures, going on to predict that they will be better in the next quarter.

Such a situation could help improve the Spanish rental property market, which Kyero recently argued has now reached its bottom.

Spain's gross domestic product was down 0.6 per cent in the third quarter, compared with a 1.1 per cent drop in the prior three months.

The Eurostat figures last week for the European Union as a whole showed that the 27-member bloc is now out of recession with 0.2 per cent growth in the three months to September, despite some individual nations being yet to recover.

Spanish property market 'could split in two'

Sat, 14 Nov 2009 00:00:00 GMT

The property market in Spain could be set to split in two, it has been suggested.

Kyero.com noted claims by Funcas savings banks foundation that the country has a large quality of low-quality development that will "take years to digest".

Writing for the site, expert Mark Stucklin said this "hints" at a situation in which two parallel markets emerge, the first of which will see the best property selling for "reasonable" prices, while there will be low quality homes around that may struggle to sell at all, even at low cost.

Such a development could mean that those looking for Spanish property should examine trends concerning the best property, rather than the overall market picture.

One area where the market may be set for a boost is Andalucia, where the regional government has begun a €1 billion (£900 million) scheme to encourage locals to buy unsold new homes.

This may boost the overall sector in the area, benefiting British investors as a result.

Andalucia plans property subsidy

Thu, 12 Nov 2009 00:00:00 GMT

A €1 billion (£901 billion) subsidy plan has been announced by the regional government of Andalucia, in an attempt to sell off some of the 70,000 newly built homes that remain unoccupied.

The plan will see developers offering a 20 per cent discount, with mortgages set at 100 per cent loan-to-value and repayments being partly met through the scheme from the fourth year onwards.

Only locals can participate in the programme , but it has been suggested that foreigners - including Britons - could profit as a result of a rise in prices being stimulated in the area by the measure.

British cash buyers in Spain could pick up a number of bargains in some places, according to director of research and buying agency Property Finders Barbara Wood.

She recently told the Daily Mail that places such as Murcia and Almeria could offer discounts of up to 35 per cent on the prices being charged when the market was at its peak in 2007.

Spain 'tailor-made for cash buyers'

Sat, 7 Nov 2009 00:00:00 GMT

Spain is currently offering a range of bargain deals for cash buyers, an expert has said.

Speaking to the Daily Mail, director of research and buying agency Property Finders Barbara Wood said many places had seen prices fall between 30 and 35 per cent below their peak level in the boom.

She listed places such as Murcia, Torrevieja and parts of Almeria as having seen such a drop.

However, she noted, it is cash buyers who are mainly taking advantage at present as it is hard to get a mortgage at a loan-to-value of over 80 per cent at present.

Ms Wood advised that those who are buying should avoid places on the "periphery" of popular areas, as these will take longest to see their prices recover.

Instead, people should stick to locations that have been favoured destinations for up to 40 years, she advised.

Last week, Martin Dell of Spanish property portal Kyero.com said the market in the country has reached its bottom.

As a result investors should now come back in large numbers, he suggested.

Tenerife 'an upmarket choice'

Sat, 7 Nov 2009 00:00:00 GMT

Tenerife is more upmarket than the other Canary Islands, a tourism expert has said, something that may interest those thinking of buying holiday properties.

Spokesperson for holiday firm Travel Counsellors Jayne Nuttall remarked: "Tenerife has more four and five star and deuxe properties than other Canary Islands".

She added that the best locations include places such as Costa Adeje.

This issue may be taken into consideration by those thinking of buying property in the Canary Islands, either as something to rent out to tourists or as a second home.

While the island may be fashionable, Ms Nuttall also noted that it has "a wide range of properties suitable for all budgets".

Those considering investing in the islands may also wish to look at Lanzarote.

According to a recent article in the Times, the fall in prices there since the end of the boom has been a third of that seen in the Spanish mainland.

Spain 'to see return of investors'

Wed, 4 Nov 2009 00:00:00 GMT

Spain should see property investors returning in large numbers after experts said the market there has reached its bottom.

Writing for Spanish real estate portal Kyero.com, Martin Dell said the "word on the street" is that the period of falling prices is over.

He also noted the comments by Knight Frank last week that the market has stabilised - although price rises will have to wait until 2011.

Stating that investors have now ceased waiting for further price declines, Mr Dell forecast: "I continue to predict a wave of foreign investment money flowing into Spanish Property."

Those looking to buy should aim to get a 30 per cent discount on the cost of a property compared to 2007 values by making a "cheeky bid" at a lower price, he added.

Lanzarote was recently noted as a place where house prices have not fallen as much as the rest of Spain.

A feature in the Times stated that its values have only dropped by four per cent in the past year, a third of the national average.

Mortgages for Spain are still available

Tue, 3 Nov 2009 00:00:00 GMT

It is still possible to get a mortgage to buy a property in Spain, an expat portal has noted.

Shelter Offshore said that Natwest and Abbey are two UK lenders offering such products.

However, it noted that the Natwest deal has a loan-to-value of only 55 per cent, while Abbey - owned by Spanish banking group Santander - does not disclose terms and conditions before an application.

Despite this, the website suggested, those who can get such finance will find it a rewarding thing to do.

It stated: "The hard work to get a mortgage in place will be well worth it when it pays up and pays off and you have your dream home."

House prices in Spain have now hit the bottom of the market, a spokesperson for property firm Prieto told Reuters recently.

However, the company is forecasting that values will now stay flat until 2011, meaning those who do buy in Spain may find a long-term investment is the most suitable way to enter the market.

Lanzarote 'seeing market hold up'

Thu, 29 Oct 2009 00:00:00 GMT

Lanzarote's property market is faring better than most of Spain, it has been noted.

In a feature on the prospects of living on the island, the Daily Telegraph revealed that according to official statistics, prices have only dipped by four per cent in the past year.

This compares with 12 per cent across Spain as a whole.

As well as being more stable price-wise, the island could also be more appealing, as its architectural blueprint adopted when mass tourism arrived in the 1960s involved no tall buildings and painting all new structures white.

Another factor that could bolster the island is that budget airlines such as Ryanair, Monarch and Jet2 are increasing their flights to Lanzarote while cutting back elsewhere, the paper noted.

Last week, Martin Dell of Kyero.com said that Spanish property now offers some good investments as there is a real prospect that the bottom of the market is close.

New flights launched to Canaries

Thu, 29 Oct 2009 00:00:00 GMT

The Canary Islands could be in line for a property market boost as low-cost airlines announce new flights from the UK.

Budget carrier easyJet has revealed that three new services will fly to the archipelago from early next month, with both the north and south of England gaining extra flights.

A Liverpool to Fuerteventura service will begin on November 2nd and flights to Lanzarote will start from the same location the next day.

On November 4th, a new service will commence to Fuerteventura from London Stansted.

Such routes are among 22 new winter schedule services revealed by the airline, which may suggest that locations in places like the Spanish islands are likely to see more tourism and property trading as economic conditions improve.

The boost from easyJet follows the launch last week of new flights from Monarch.

It is now running an extra two flights a week to Gran Canaria from Birmingham, London Gatwick and Manchester, as well as routes to Fuerteventura from Birmingham, London Gatwick, London Luton and Manchester.

Spanish property 'worth investing in'

Wed, 21 Oct 2009 00:00:00 GMT

Property in Spain is now safe to invest in if buyers are sensible, an expert has argued.

In his column for the property portal, Martin Dell of Kyero.com noted that the Spanish government has said the bottom of the market is close.

He stated that some data from the government cannot be relied on, such as the official price figures, which he said are badly collected and subject to conflict of interests, with these underestimating the extent to which values of Spanish rental property have fallen.

However, Mr Dell stated, the claim that the market is at its lowest point is more likely to be true and people can expect to invest "safely" in the belief that the upturn is not far away.

Figures from surveying company Tinsa suggested that there was some stabilisation last month, Reuters reported recently.

These statistics revealed a 7.8 per cent annual decline in values, compared with 8.2 per cent in August.

Spanish property market 'showing signs of stabilising'

Mon, 19 Oct 2009 00:00:00 GMT

The Spanish property market may be showing hints of stabilising, it has been suggested.

Data from the Spanish Housing Ministry for September revealed that the annual fall in house prices was 7.8 per cent in the month, compared with a record 8.2 per cent in the year to August.

Consultant for financial analysts AFI Felix Lores told Reuters the statistics were unexpected.

He said: "This annual drop was a surprise as we were expecting prices to begin falling by double-digits before the adjustment had ended."

Such figures follow recent data from Tinsa recording an 8.3 per cent drop in the year to September, which were also a reduction in the rate of decline, Kyero.com noted.

The portal said this may be a sign of growing stability, but also suggested it could be a hiatus before a fresh fall in prices.

Should the market be stabilising, this may offer investors good reasons to buy with better times ahead, while further decline may create an increased supply of bargains.

Spanish property 'could see more price falls'

Thu, 15 Oct 2009 00:00:00 GMT

Spanish property could be set to see more major drops in value, a Spanish real estate website has suggested.

Kyero.com noted that, according to the latest Tinsa survey, the annual fall in values across the country was 8.3 per cent in September.

It said this was less than previous months and could represent a levelling out of the market, but might equally be a hiatus before a fresh downward turn.

Such a situation occurred in coastal areas, which saw the largest drop in September at 11.5 per cent after a couple of months of stabilisation, the Portal commented.

Dips in price could be good news for those keen to snap up bargain rental properties on the Costa del Sol.

Spain was recently pinpointed by chief executive of real estate firm Assetz Stuart Law as an ideal one in which second-home seekers could get their hands on a cheap property.

He commented: "There is massive choice and also some very good pricing."