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Tag: Property

Published on Leave a comment on Property Sales in Málaga Province Increase in September

In September, the last month analyzed by the ‘Instituto Nacional de Estadística’ (national institute for statistics), 1287 properties were sold in Malaga province, according to a report issued earlier this week.

Apartments Marbella 300x225 - Property Sales in Málaga Province Increase in SeptemberWhile this figure is fractionally smaller than at the same time last year (by a mere 11 sales), Malaga has seen twice as many properties sold as in Aragón and as many as in Galicia, Castile and Leon and Castile and La Mancha put together. The province has the most house sales in the whole of Andalucía and is only overtaken nationwide by those in Madrid, Barcelona, Valencia and Alicante.

This positive figure, when added to the growth in sales of the previous two months compared to the same time last year, is a great relief in the current harsh economic climate.

One of the deciding factors involved in buying a property this year, apart from falling prices, is the fact that next year tax relief on mortgages is to be removed. Additionally VAT is set to rise significantly in January, from four per cent up to 10 per cent.
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Published on Leave a comment on Spain is looking for Norwegians property buyers

Swedish property buyers have become the target of a new property sales drive on Spain’s Costa del Sol after a conference headed up by Malaga real estate representatives in Stockholm earlier this month decided they would push to sell 40,000 properties to the Swedish market.

IMG 0552 300x225 - Spain is looking for Norwegians property buyersTourism director Elias Bendodo and tourist board manager Arturo Bernal liaised with Swedish promoters at the Living Costa del Sol conference in Stockholm drawing up a new deal to encourage Swedish, Norwegian, Finnish and Danish property buyers to purchase holiday or second homes on the Costa del Sol.

On the other hand, plans were recently unveiled by health chiefs to turn the Andalucian city of Malaga into a prominent destination for global healthcare by drawing patients to clinics and hospitals where some of the best surgeons reside.
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Published on Leave a comment on British buyers willing to purchase a second home in Spain

Around 56% of British people enquiring about the Spanish property market are actively interested in purchasing opportunities according to a study by Spanish real estate agent Inmoaction with 27% of respondents commenting that they would buy a second home in the country.

680121 619762 1 300x200 - British buyers willing to purchase a second home in SpainResults from the survey of more than 1,500 people highlights that the decline in prices in the Spanish property market is increasingly attracting British buyers looking for a well priced dream home.

‘While the data shows that Brits seem to be showing a great deal of interest in Spanish property, we are seeing this interest translate into action,’ said Marc Pritchard sales and marketing manager of Spanish house builder Taylor Wimpey España.

‘While enquiries by Brits have increased by 5.5% in August this year compared to the same time in 2011, last month saw 53% of all our property sales in August made to British clients,  the strongest sales month to British buyers since September 2010,’ he explained.
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Published on 2 Comments on Property in Spain ‘most attractive investment it’s ever been’

Buying a property in Spain is a more attractive proposition now than it ever has been

So says Marc Pritchard, sales and marketing director of Taylor Wimpey de Espana, who stressed potential buyers should look at the merits of the market at present and "strike while the iron is hot".

6r5kd6re - Property in Spain 'most attractive investment it's ever been'

Flat for sale in Marbella (Málaga)

"A favourable exchange rate between sterling and the euro combined with Spain's dip in real estate prices have meant that Spanish property is more attractive to buyers than ever before," he asserted.

Mr Pritchard also highlighted another reason to make a purchase now, rather than waiting - a potential tax increase which could come into force from next January.

He revealed value-added tax on real estate transactions, which currently stands at four per cent, may rise to ten per cent at the start of 2013.

Last month, director of international mortgage specialist Conti Clare Nessling told This is Money that Spanish property is a good long-term investment because the market is at its bottom and is expected to improve in the coming years.

Source: propertyshowrooms.com

Published on Leave a comment on Balearics Keeps Property Prices Up

The cost of buying property in the Canaries fell by 9.8 per cent while Balearic Islands prices grow up

islas baleares ibiza 300x203 - Balearics Keeps Property Prices UpAccording to recent data, demand for Real Estate in Spain's Balearic Islands is growing strong. Many people who choose to buy a property in Spain's Balearic Islands do so because of the aspirational nature of the archipelago.

Despite the Balearic Islands' appeal to overseas buyers, the value of homes in the archipelago - and on the Canary Islands - has fallen during the economic crisis that has hit Spain and other European nations.

The most recent figures published by Tinsa revealed the cost of buying a property in either the Canaries or Balearics fell by 9.8 per cent between March 2012 and the same month a year earlier. However, this is still below the average national decline of 11.5 per cent during the same period. 

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Published on 2 Comments on Andalucia to Change Property Legislation

Home owners question advantages of new legalisation in Estepona, Andalucia

Andalucia - Andalucia to Change Property LegislationWe're going local. Estepona, a Costa del Sol city in which many non-native Spanish live, faces a dramatic change in legislation that will alter property contracts in this location. As it is published in Sur (local newspaper):

"The decree, which affects all of Andalucía, aims to legalise many of the buildings constructed on rural land. Nevertheless this still leaves a large number of properties that for one reason or another will not qualify for the legalisation process.

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Published on Leave a comment on Spain Set to Clear Property Debt

Spanish banks face deeper losses on 176 billion euros of real-estate assets

de guindos - Spain Set to Clear Property Debt"Spanish banks face deeper losses on 176 billion euros of real-estate assets. "You have to remove any kind of shadow of doubt over the valuation that you have of these assets in your balance sheet,” Luis de Guindos, tipped by newspapers as a contender for finance minister in a new People’s Party government formed by Rajoy, said in an interview.

De Guindos said he favored stricter rules on how banks account for depreciated land values.
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Published on Leave a comment on Spain Shows Property in London Expo

The Spanish State Secretary for Housing showcases property at the Property Investor Show & OPP Live 2011

A delegation comprising ten or so Spanish property developers and real estate departments of financial entities showcased a sample of the properties available at a technical open-day in London to promote Spanish real estate in the United Kingdom.

The event was organised by the Ministry of Public Works in collaboration with the Spanish Institute for Foreign Trade (Spanish acronym: ICEX) and held within the framework of the Property Investor Show & OPP Live 2011, one of the main real estate events held in the United Kingdom.

show case Spain - Spain Shows Property in London Expo

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Published on Leave a comment on Consider Portugal Investment

Property confidence increases in Portugal 

People interested in investing in European property should consider Portuguese property after research showed that property confidence in the country had improved.

The RICS/Ci Portuguese Housing Market Survey revealed that both the National Activity and National Confidence indices improve in July and weakening demand remains the main factor weighing down on Portuguese prices. This weakening demand is one reason why Portuguese property could be available at knock-down prices.

stride.co.uk