Spain Real Estate News
The new ECB rate cut, the fourth in 2024, is good news for the real estate market. With the reduction in interest rates by 25 basis points, the price of money is 3%. However, along with this decision by the European Central Bank came another news that was not so positive: the reduction in economic growth expectations for the Eurozone.
...continue reading "New ECB Rate Cut: How Does it Affect the Real Estate Market?"
It’s the ultimate traveler fantasy: a seaside vacation with an all-inclusive hotel deal, and everything free of charge. As it turns out, many British visitors have made this a reality in recent years, thanks to ...continue reading "The food poisoning scam that Brits are using for a free Spanish vacation"
The Costa’s real estate sector has got off to a strong start this year, new data shows.
In figures released this week by the Colegio Oficial de Arquitectos -the official body in Malaga that certifies architects’ plans for new buildings - its experts approved 1,397 new flats or houses in ...continue reading "Number of planned new homes on Málaga coast shoots up by over 250 per cent in a year"
For the second time in a row, its tourism sector ranked as the most competitive in the world, according to the World Economic Forum, ...continue reading "Spain’s tourism industry ranked as the most competitive in the world"
Government statistics have shown that there were 15 per cent more foreign tourists in Andalucía in January compared to the same month last year.
...continue reading "Andalucía sees big increase in foreign tourists in January"
Spain has shattered its own tourism record for the seventh year in a row: 75.3 million foreign visitors made their way to the country in 2016. That’s 7.2 million more than in 2015, for a rise of 9.9%, 
according to early figures from Spain’s Energy and Tourism Ministry.
Visitors to Spain in 2016 shelled out a total of €77 billion, up 8.3% from 2015 figures, while average per capita spending was €1,023 for a more modest rise of 3.75%. The average daily amount spent by visitors was €138, some 6.5% higher than a year earlier.
...continue reading "Spain shattered its own tourism record in 2016"
The Cordish Companies, a US real estate developer and entertainment operator, is planning to invest at least €2.2 billion on a Madrid resort. The complex will create more than 56,000 jobs for the regional economy, the company claimed in a presentation. The project includes hotels, restaurants, stores, theaters, cinemas, gaming areas and even a circus.
The company has already presented the project to the regional government, which is controlled by the conservative Popular Party (PP).
...continue reading "US developer planning mega-resort outside Madrid"
Eight years after Spain’s property market crashed, house sales continue to increase, with a three-year high registered in June as some 36,856 homes changed hands, up 19.5% from the same 
month in June 2015.
Building on the growth seen in April and May, sales for the first half of 2016 were the best since 2010.
However, growth is largely restricted to five major cities and their surrounding areas: Madrid, Barcelona, Alicante, Malaga and Valencia. Total sales for the first half of the year were 207,593.
Residential construction is partly driven by foreign investment, which is pouring into developments in Madrid and Barcelona; a jump in building permits points to more growth to come. Construction and real estate accounted for more than a third of the nearly €22 billion ($24 billion) of foreign investment in Spain in 2015, Economy Ministry data shows.
...continue reading "Spain’s housing market continues to show steady signs of recovery"
The United Kingdom's exit from the European Union is a terrible piece of news for the Costa del Sol, where the British are its biggest and most important customers, and also some of the highest spenders. From now on there are just unknowns and a lot of nervousness.
Last week, the president of the CEA (Andalusian Employers' Association), Javier González de Lara, warned that Britain leaving the European Union would have serious consequences for the Spanish economy, with tourism, although not just tourism, being the main loser.
Since the referendum there's been a 10% fall in the value of the British Pound. This means that Britons' holidays in Spain have become more expensive overnight as, although the Euro has also fallen, it hasn't done so as much as the Pound. This will mean less tourists will visit and less buying power for those that still come. The current average daily spend by the British is 105 euros, higher than the Germans (101 euros) and the French (80 euros).
...continue reading "The effect of Brexit on the Costa del Sol"
The leafy Madrid dormitory town of Pozuelo is Spain’s richest town, while Torrevieja, a run-down resort on the coast of Alicante province, remains the poorest, according to the latest municipal wealth and inequality survey published by the National Statistics Institute (INE).
The study covers 109 Spanish municipalities throughout Spain, and shows that at €70,298, annual household income in Pozuelo, around 15 kilometers to the northwest of the capital, is five times that of Torrevieja’s €13,977.
Pozuelo is dotted with exclusive gated communities that are home to soccer players and other celebrities. Torrevieja has a significant number of retirees living all year round, many of them from the UK and Germany, and its economy is largely dependent on the summer season.
In general, the north of Madrid is home to the capital’s wealthiest inhabitants: in Majadahonda, ...continue reading "Torrevieja is been named Spain’s poorest town"