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Category: Real Estate

Published on Leave a comment on Spanish property prices keep growing

The price of Spanish housing is growing at a much faster rate than the euro zone average, exceeding it for seven consecutive quarters. The latest data shows that the second quarter of 2016 MIjas 300x225 - Spanish property prices keep growingwitnessed a 3.8 per cent increase, lower than Jan-Mar figures but still higher than the euro zone average of 2.9 per cent.

Both Spain and Ireland have seen strong increases in recent years, largely due to making up lost ground as they continue to rebound from the brink of disaster.

France and Italy have fared far worse, while Germany has also performed well.

The news comes as a Spanish real estate revealed its half year report showing that major cities and coastal hotspots are behind much of Spain’s recent price growth.
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Published on 2 Comments on British buyers down in Spanish coastal areas due to Brexit

Brexit is bad news for the recovering Spanish property market with a real estate conference in Marbella hearing that it is already having an impact with a fall in British buyers.

Málaga playa de la Malagueta 300x225 - British buyers down in Spanish coastal areas due to BrexitInterest from British buyers in locations like the Costa del Sol where they have been the biggest group of foreign buyers for many years, began dwindling in the run up to the European Union referendum in June and since.

Property expert Mark Stucklin told the conference, organised by Spanish appraisal company Tinsa, that British buyers made up 36% of foreign market in the Malaga province last year, more than double the next biggest group from Sweden and 50% of the top six markets combined.

He believes that when reliable figures are made available they will show a big decline in British purchases, perhaps 50% or more in the six months after Brexit. Stucklin said that he also spoke to other property industry professionals at the conference, including lawyers and estate agents and most of them said that Brexit is having a significant negative impact on their business.
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Published on 1 Comment on 7 Apartments to rent under €890/month in Costa del Sol, Málaga province

1. Penthouse apartment to rent in Benalmádena Costa - Long-Term, €800/month: 180 m2 | 2 bedrooms | 2 bathrooms | Furnished | Swimming-pool | Gardens

Apartment to rent in Benalmádena Costa Torrequebrada e1477904146619 - 7 Apartments to rent under €890/month in Costa del Sol, Málaga province
Click here for further details
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Published on 1 Comment on British fund to invest 25 million euros in five luxury villas in Marbella

The London-based British fund Pacific Investments has announced plans to invest 25 million euros in the construction of a complex of luxury villas in the Sierra Blanca area of Marbella.

Marbella Sierra de las Nieves 300x225 - British fund to invest 25 million euros in five luxury villas in MarbellaThe exclusive project is aimed at a privileged few, buyers with very high purchasing power; there will only be five properties in total, and the price is expected to be around seven million euros each.

The complex, which was launched by the director de Pacific Investments, Mark Johnson, and the head of Penna Properties Partners in Marbella, Christopher Penna, has been designed by the Torras y Sierra architecture studio, which also designed the Finca Cortesín hotel.

The construction of the villas will begin as soon as the council has issued the works licence – this should be done within the next few weeks, they say – and the site chosen for the exclusive development is the area known as Cascadas de Canoján, in the upper part of Sierra Blanca.
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Published on Leave a comment on 6 Fantastic apartments to rent under €900 per month

1. Apartment to rent in Mijas Costa - Long-Term, Málaga province: 2 bedrooms, 1 bathroom, €450/month

Apartment to rent in Mijas Costa e1476692349820 - 6 Fantastic apartments to rent under €900 per monthClick here for further information
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Published on Leave a comment on Seven out of ten properties sold to foreigners in Andalucía are located in Málaga province

The Costa del Sol is still the number one choice in Andalucía by a long way when it comes to attracting foreign property buyers.

Fotolia 114355057 S - Seven out of ten properties sold to foreigners in Andalucía are located in Málaga provinceBetween January and July this year, there were 4,978 registered real estate transactions to non-Spanish purchasers in Malaga province, an increase of 16.9% on the same period in 2015.

According to official Spanish government data, this accounts for 70% of the residential properties sold to foreigners throughout the whole of Andalucía.

On a regional level, the number of properties bought by foreigners in Andalucía increased by 18.9% in the first six months of this year. The 5,973 transactions in the same period in 2015 rose to 7,105 sales in 2016.
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Published on 5 Comments on 5 Fabulous Apartments for Sale in Barcelona city

1. Apartment in Barcelona: 2 bedrooms, 2 bathrooms, Built area 60 m2, Terrace 6 m2, Brand New57293278 1840355 foto 833356 e1475483558770 - 5 Fabulous Apartments for Sale in Barcelona city
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Published on 1 Comment on Holiday resorts’ anger at UK lawyers who encourage tourists to sue hotels

Hoteliers’ associations in Benidorm and Gran Canaria have complained about “clear abuse” by British law firms who approach holidaymakers promising “to get them their money back for their Benidorm Costa Blanca 300x186 - Holiday resorts' anger at UK lawyers who encourage tourists to sue hotelsholidays” on a “no win, no fee” basis.

According to reports over the summer, mobile ‘help centres’ have appeared in areas popular with UK tourists that encourage them to make compensation claims for complaints such as sickness or poor quality.

European package holiday legislation makes tour operators responsible for compensating passengers if anything goes wrong on holiday, however these amounts are normally taken off the money paid to hoteliers as part of their contract.
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Published on Leave a comment on Are property owners complying with the new holiday rentals legislation?

The regional government’s new legislation concerning holiday rentals states that owners who are renting their properties to tourists are now obliged to register the property with the Andalusian 15724 1636726 foto 806308 300x188 - Are property owners complying with the new holiday rentals legislation? tourist registry.

The Junta de Andalucía estimates that around 80,000 private homes with some 400,000 beds are offered as tourist rentals in the region, and this new law is intended to bring to light illegal practices and unfair competition.

The legislation has received the thumbs-up from the local hotel sector, but some property owners claim they have been forced to stop offering their properties for short-term rentals, because they simply cannot afford to comply with the conditions.

Owners who fail to comply with the new regulations could face fines of up to €150,000 and they could also have their properties removed from the registry, but are the proprietors of potential holiday apartments complying with these new rules?
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Published on 1 Comment on The ongoing love affair between Kuwait and Marbella

Ever since the late King Fahd decided to build a complex of five palaces and a number of mansions on the exclusive Golden Mile during the 1980s, Marbella’s image has been associated with the marbella 1270299 960 720 300x199 - The ongoing love affair between Kuwait and Marbellaexcesses of the Saudis.

Fahd’s building spree followed a successful visit to the ritzy Incosol Hotel In 1979 when he was still Crown Prince, prompting him to choose this corner of Andalusia over the South of France for his summer residence.

But while his presence and that of his extraordinarily extravagant entourage might have made the biggest splash, his Kuwaiti neighbors had already blazed the trail, investing their petrodollars in property and starting a love affair with Marbella that has lasted 40 years.
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