spanish-properties-for-sale property-sales-spain

2006-04-14T05:35:00.000-07:00

Spanish Property Market News

Half of all mortages are for more than 100% of the property price El Periodico de Catalunya reported that nearly half of all property buyers in Spain who request a loan, need to finance more than 100% of the value of the property, according to the fifth annual study of National Property Agents, undertaken in 2005.
In 2002, when the last study was undertaken, only 28% of all buyers needed to borrow more than 100% of the value of the property. On average, financing is calculated at about 92.9% of the property value, clearly higher than the figure cited in the last report, at 87.3%. The Bank of Spain recommends that lending institutions restrict their mortgages to only 80% of the property value, in order to avoid placing these families in a position of excessive debt if interest rates rise.
Spanish Housing Minister insists on Property Market regulation According to El Pais, Maria Antonia Trujillo stated 'In Spain it's more difficult to sell a lettuce than a home.' Hence her push to introduce stronger regulations for those buying and selling property, who currently are not subject to sufficient controls which would limit the abuse which takes place in the market (for example, charging excessive commission).
Despite there now being in existence some 8,000 registered and qualified professionals, in 2000 the PP in power in Government then decided to deregulate the market. Subsequently, there has been no need for a qualification or title to enable someone to deal in property. Amongst the measures announced by the Minister, agents will be required to obtain an official title in order to practise in the industry and there will also be a policing of fraudulent charges to clients. So far there is no date in place for these changes and Trujillo commented that they will probably be introduced in the long term.
The BCE delays interest rate increases until JuneExpansion.com reported that the Bank of Spain (BCE) has delayed the next interest rate hikes until June. Likely to be 2.75%, the intention is to correct the market, which awaited the tightening of lending during April. Jean Claude Trichet, President of the BCE, reassured that anticipated interest rate movements in May 'does not reflect the sentiment of the executive council of the BCE', a statement that just about eliminates the chance of changes next month.
Given the lack of haste that the BCE has expressed in changing the rate, it could mean that by the end of the year interest rates will stand at 3% instead of the 3.25% anticipated by the market. Nevertheless, Trichet insisted that interest rates will continue to rise now that there is a high risk of inflation and that for the first time in a number of years, economic growth here could be challenged.

Discovered for you by HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain

2006-04-06T00:45:00.000-07:00

Interest Rate Hikes Fail to Cool Property Boom

Higher interest rates have failed to dampen Spaniards' desire to become property owners, new figures reveal.Mortgage loans rose 37.7 percent in the first month of the year, compared with January 2005.The European Central Bank raised its interest rate for the first time in December, with the second rate hike announced last month.The ECB current rate stands at 2.5 percent.
The Bank of Spain criticised the ECB policy calling it "expensive".But the Spanish government is worrying more about how much Spaniards are getting themselves into debt with mortgages. This concern comes as interest rates are going up and other inflationary concerns are increasing.The National Institute of Statistics said 98.3 percent of home loans are bought with a variable rate mortgage. But the government wants families to move to mixed mortgages to reduce the effects of a possible downturn in the property boom and a dip in the Spanish economy which would plunge many into negative equity.The average mortgage in January was EUR 145,000, up 16.8 percent from a year earlier.
Story from Expatica
found for you by HOMES & FINCAS, ayamonte, costa de la luz , spain

2006-03-05T06:11:00.000-08:00

FRANCE VS SPAIN

The French call us perfidious Albion and les rosbifs; we call them craven and Frogs. In the French media, "anglo saxonne" is their code for everything wrong with the modern world. Despite the entente cordiale of 1904, there is no love lost between us. So it should come as no surprise that the French Resistance is back in action, this time saving rural France from British homebuyers.

Tensions are mounting in Brittany and the Dordogne as Brits price locals out of the market while making no attempt to go native ("clinging on to Blighty" as the French Mistress describes it). In Spain, on the other hand, the British get the red carpet. There are no spiteful nicknames, no historical animosities, no modern rivalries and certainly no resistance if the British want to throw money at local properties. Communication factor language The Spanish are falling over themselves to learn English, while the French are still lamely trying to make the rest of the world speak French.

If you must learn a new language, you are better off learning Spanish, spoken by 330m people, than a language spoken only in France and parts of Canada and West Africa. Quality of life The French may have more three star Michelin restaurants and spend more public money on healthcare, but on all other fronts you can argue that Spain offers the better quality of life. CrimeAccording to the seventh UN survey of crime trends, in 2000, France suffered the fifth highest level of burglaries in the world, with 371,000, compared with 24,000 in Spain. In terms of total crimes, France was in fourth position, with 3,770,000; Spain, in 16th position, had 923,000.

Cost of livingComparative figures from the Organisation for Economic Co operation and Development (OECD) show that prices in France are 94% of the OECD average, while in Spain they are just 79% of the average. TaxationOECD figures for 2001 show France had the fifth highest tax rate among selected OECD countries, with 48.3% of average gross earnings given up in tax. Spain was 15th, with 37.9%. The Spanish government is in the process of reducing taxes further.

Property choice and prices Between 1997 and 2005, Spanish property was a better investment than French property, with gross returns 50% higher, according to The Economist's global house price indicators. Looking to the future, there is a risk that property is overvalued in both countries, perhaps slightly more so in Spain, although the difference does not appear to be large.

When it comes to buying property, most Brits want a reasonably priced villa on the coast somewhere warm and sunny. Spain's Mediterranean coastline is twice as long, further south and covered in villas, which is precisely why more Brits choose to buy there. Spain may be less elitist than France, but it's certainly more popular. Climate Most buyers want to escape the winter or enjoy the summer, or both. The summer bit is easy in both countries, but for a good winter climate you need to be south of the city of Valencia, on Spain's Mediterranean coast. Anywhere north of here, and the winter starts to bite, which rules out France as a winter sunshine destination. Spain has more than 620 miles of Mediterranean coastline below Valencia, not to mention the Canaries, Europe's winter sunshine destination par excellence. Presence of other Brits The French national statistics website (www.insee.fr) gleefully offers figures on poverty and social exclusion in the UK, but has almost nothing to say about the number of foreign born residents in France. It takes a lot of internet research to find out that there are some 100,000 British born residents in France. The Spanish national statistics website (www.ine.es), with nothing to say about social problems in the UK, readily reveals that there are 227,000 Brits officially resident in Spain.

So yes, you are more likely to come across other Brits in Spain, largely because Spain is a nicer place to live.

Full story from the times online

found by HOMES & FINCAS - AYAMONTE - COSTA DE LA LUZ - SPAIN

2006-02-28T08:46:00.000-08:00

Property Channel

House prices in Spain rose by 12.8 per cent in 2005
© Andreas Bauer
Spanish property bubble showing no signs of bursting
16 Feb 2006
Nick Gibbens
The Spanish property market still offers solid investment opportunities despite negative publicity that the bubble is about to burst, property experts have said.
With an expanding economy, high employment and excellent infrastructure the Spanish market is still very strong, according to exhibitors at The Homebuyer Show.
They say that although the newly emerging hotspots, such as Eastern Europe, promise excellent returns on investment, for reliability and stability of investment income, homebuyers shouldn't dismiss the traditional Costas altogether.
Jason Windle, managing director of a well known estate agency who will be exhibiting at the show, comments: "Even though there is talk that the Spanish property market has reached its peak, it is still catching up with the English market. I strongly believe that it has a long way to go and we may still be only mid-way through the property boom.
"With excellent health services and an unrivalled quality of life, Spain offers a much more enjoyable investment opportunity than reading share prices every day!
"What's more, as there are few barriers to living and working in Spain it has become a favourite destination for people looking to migrate or retire overseas, which acts as a great support to prices. For an average two bedroom, two bathroom property on the coast, you can expect around €700 per week in rental income during the summer, and €500 per week during the golf season."
Nick Clark, managing director of The Homebuyer Show: "With low cost airlines leaving for Spain throughout the day, good infrastructure and an established year round rental market, it really is an excellent investment opportunity."
"Terry O'Connor, business development director of another exhibitor, said: "Despite its longevity, Spain really is still a good option. Mortgages are easily obtained, there's no worry with currency instability and there are some great deals at the moment. Some areas in the Costa de la Luz have seen inflation of 40 per cent in the last two years, and we expect at least 15 per cent in 2006.
"For capital growth potential, I would suggest buying off-plan at an established development such as Costa Esuri or Nuevo Portil. Townhomes with three double bedrooms are available for around €260,000 (£177,000), whereas luxury two bedroom apartments can be had from €160,464 (£110,000). Buyers in one of our developments have seen their value rise by 30 per cent in the past 18 months and we expect good capital growth to continue in these up and coming areas."
Nick Clark, managing director of The Homebuyer Show, added: "Despite emerging property markets creating a real buzz at the moment, traditional markets like Spain are still incredibly popular with visitors to our shows.
"With low cost airlines leaving for Spain throughout the day, good infrastructure and an established year round rental market, it really is an excellent investment opportunity.
"However, we would encourage any potential or professional investors to research the market and get advice from a professional before they commit."
found by HOMES & FINCAS, AYAMONTE, COSTA DE LA LUZ

2005-12-03T10:12:00.000-08:00

Monday, November 07, 2005

Brits Continue Looking For Place In Spanish Sun

A new report has revealed that the massive interest in second homes abroad among British people is set to continue.

According to research carried out by Barclays, the number of British homeowners with properties abroad is set to double over the coming years, as people look to flee from the UK during the cold winter months.

Spain topped the poll by Barclays of the place that most people would want to purchase a property, with 30 per cent of the vote. France came in third, with 14 per cent of the vote, with both scoring highly because of their cheap housing prices compared to the UK at present.

The UK's continued price inflation may have started to slow, resulting in a significant cooling of the housing market, but prices have not fallen low enough for many people, resulting in millions preferring properties abroad over ones in the UK as ideal second home destinations.

Destinations such as France and Spain remain popular with those from the UK looking to invest in properties abroad, due to the fact that they see them as ideal destinations for winter breaks to get away for a short period to top up on some sun instead of the long dark nights of British winter. And with predictions that this winter could be the coldest for ten years, more people than ever are now interested in purchasing a second home abroad.

Barclays found that, while 2.2 million people currently own properties abroad, there are just as many people in the UK who are definitely intending to buy a second home in a foreign country in the future. That would raise the proportion of UK citizens owning a second home to ten per cent of the country's population.

But even that could dramatically rise in the years to come, as the survey also found a further 37 per cent of those polled are currently considering purchasing a property abroad. That would result in a mass exodus, with millions leaving these shores every year to invest in overseas properties, both as second homes and as property investments.

Many people are inspired by property programmes such as Channel 4's A Place in the Sun, which tracks people purchasing property in foreign climes, because of the investment opportunities explained in such programmes.

Commenting on the findings of the report, Barclays head of European business development Suzanne Clay said: "The trend towards owning property abroad shows no sign of abating and could go through the roof if people were more confident of a hassle free purchase."

Story from Assetz News

more details HOMES & FINCAS, Costa de la Luz

2005-11-18T11:08:00.000-08:00

Brits flock to Spain - not for a holiday but for a new life

27 Jun 2005

Spain has beaten its nearest rivals to be the most popular destination for the British to move to according to research by Barclays.

The survey of over 25,000 expatriates found that over 15 per cent of Britons moving abroad in 2004 went to Spain with the USA, France and Australia in second place with 11 per cent each
There are also huge differences between the countries preferred by different age groups. For example, Spain attracted 27 per cent of those over the age of 60, but only five per cent of those under 40.

The USA on the other hand was attractive to all age groups, with 10 per cent of the under 40s, 11 per cent of the 40-60 age group and eight per cent of the over 60s. Australia was the most popular destination for the under 40s with 11 per cent of that age group moving there.
Tim Parkes, director of personal customers for Barclays International Banking, said: "People often dream about moving abroad but there is no doubt that more and more are actually giving up work in the UK for a new way of life in countries like Australia and the USA, or to retire to the sun and sea of Spain."

"The other thing apparent from the research is that British expatriates are not confined to just one or two countries, but in fact can be found in over 200 countries and territories around the world."

Despite the success of Spain in 2004, the USA remains the most popular destination over all with 13 per cent of all British expatriates followed by Spain with 11 per cent, Australia 10 per cent and France 10 per cent.

Amongst the least popular destinations are Greenland, Tajikstan and the British Antarctic Territory, who have less than 0.01 per cent of expatriates.

2005-10-29T12:23:00.000-07:00

Property Channel

Is the Cyprus boom fading?

Is the Cyprus property boom over?

3 Oct 2005

The property investment boom in Cyprus is experiencing a sharp slowdown as jet to let prices on the island achieve parity with equivalent property in Spain.

The sudden change has been revealed by a property survey in the Financial Mirror, Cyprus's leading business and finance newspaper.

Rather than exploring new and less stable markets however, the majority of property development seems to be returning to the traditional Costas.

Property investors have been 'driven away' by record high prices throughout the past 12 months, the Financial Mirror found. Jet to let sales have declined 29 per cent year on year through the first half of 2005, with the total amount of property investment falling from 626m Cypriot pounds to 442m Cypriot pounds.

"Industry experts blame most of the real estate decline on the sharp increase in property prices, with Paphos now matching prices quoted in Spain and driving itself out of the market," said the Mirror.

Estate agents and property investment experts consulted by the Mirror said that a range of factors were influencing the property markets, blaming the recent introduction of VAT, higher government transfer fees, the increasing costs of construction materials, a general slowdown in the Cypriot economy and increasing competition from the north of the island.

Construction costs are up by 11.8 per cent in the first half of 2005, and the number of building permits has declined, with developers concentrating on apartment blocks rather than individual houses or villas. The paper points out that the figures remain well above the pre-2004 high of 411 million Cypriot pounds (£489 million) in the first half of 2003.

Property investment activity is also closely related to that of investors' home markets and the slowdown in UK housing and the German economy, the two countries who have provided the most inward property investment, plays a part.

Interestingly, property investment is primarily leaking back towards Spain, suggesting that the strength of the economy and infrastructure is the most important factor in jet to let investment decisions rather than seeking out, low prices at any cost in less stable east European markets.

"Cyprus losing its price advantage is good news for our developers who are already adding value, as seen in the first 3,000 apartments and villas we are launching next month especially for SIPPs buyers," Alberto Linares, spokesman for property investment group Sipps in Spain told Property in Spain.

"They have upped the quality of finishes and are introducing extra comfort and security with smart homes technology," he added.

Story source: Assetz
found by HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain

2005-10-22T09:34:00.000-07:00

The new Pension Scheme SIPP is already causing a huge demand in the overseas property market, since our previous Newsletter which introduced the changes in the regime regarding private pensions, we have had a overwhelming number of clients that since then have purchased properties through their pensions.

From April 2006 clients will be able to pay into their pensions the equivalent of their years gross salary where as before they were only allowed to pay in a small percentage, this will allow people to build up a good amount of money much quicker and this money can now be invested in properties abroad. By purchasing a property through your SIPP pension you will not be liable for capital gains when you sell the property, you will not pay any tax on rental income paid into the pension company. The clients who have already purchased in Spain taking a vantage of the new regime bought properties with completion after April 2006. Clients can open a SIPP pension or transfer any private pensions to a SIPP scheme, even clients with frozen pensions will be able to transfer to the new scheme.
Details HOMES & FINCAS, Ayamonte, Costa de la Luz, Spain

2005-10-16T07:19:00.000-07:00

Spain.
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Spanish and Galician: Reino de España or España; Catalan: Regne d'Espanya; Basque: Espainiako Erresuma) is a country located in the southwest of Europe. It shares the Iberian Peninsula with Portugal, Gibraltar and Andorra. To the northeast, along the Pyrenees mountain range, it borders France and the tiny principality of Andorra. It includes the Balearic Islands in the Mediterranean Sea, the Canary Islands in the Atlantic Ocean, the cities of Ceuta and Melilla in the north of Africa, and a number of minor uninhabited islands on the Mediterranean side of the strait of Gibraltar, such as the Chafarine islands, the "rocks" (es: peñones) of Vélez and Alhucemas, and the tiny Parsley Island. Strong economic growth and an expansion in trade following membership of the European Union in 1986 made the country's economy the tenth largest in the world in 2002. Life expectancy, public transportation, sanitation, infrastructure, and health care are first-rate, although the GDP per capita remains at 87% of that of the four leading European economies.
Property Investment in Spain - what's is the deal?
More and more people are seeing traditional investments in Pension Plans, PEPs, stock investments, saving accounts etc, which continue to fall in value almost day-by-day. The search for opportunities that can give a satisfying return on investment has become THE number one priority.
There are literally thousands of properties on the market - with the help of HOMES & FINCAS in Ayamonte on the Costa de la Luz, Spain we have put together the best opportunities for you - helping you to piece together the puzzle.

BUYING OFF PLAN OR RESALE PROPERTIES IN SPAIN
The investors have discovered that by buying properties OFF PLAN in Spain and then reselling once the property has been built substantial profits can be made. Generally, it's cheaper to buy a property before it's built, even if you intend to use it as a place of residence, holiday home or for letting.
It's even possible to sell prior to having to pay for all of the costs involved. If you are lucky enough to be able to do this you can make substantial savings in costs and taxes.
In order to maximise investment potential many people decide to buy direct from the developers' plans in Spain.
We have a number of investment opportunities currently for sale on carefully selected developments in Isla Canela, Costa Esuri, Islantilla, El Rompido and Nuevo Portil. ALL can be purchased during or prior to construction.

Buying in Spain as an Investment and Buying in Spain as a Holiday Home or Permanent Place of Residence. Here we provide a big range of apartments, villas, townhouses either resale or new in the area between Ayamonte and Huelva in Costa Esuri (the largest project in Andalusia), Isla Canela, Islantilla, Nuevo Portil, Cartaya, Gibraleon, El Rompido etc.
Buyers have a wide range of Spanish homes to suit each individual needs by size, location and budget. If you wish homes can be situated near to all amenities, beaches or golf courses and have either private gardens, communal gardens and swimming pool on site specially in Costa Esuri, Isla Canela, Islantilla and Nuevo Portil .
It is nearly guaranteed sunshine on the spanish Costa de la Luz which makes it an ideal holiday destination not only for sun seekers but also for sports fanatics, golfers, walkers and all those who love to be outdoors.