Who’s buying in Spain in 2015? Exploring the lure of the Spanish property market

Who’s buying in Spain in 2015? Exploring the lure of the Spanish property market

by Louise Spain
  • Belgian and Dutch buyers particularly influential on Spanish property market during 2015 (Taylor Wimpey España)
  • Spain gains entry to top ten cheapest countries for property (OECD)
  • Two bedroom beach apartments from just €142k (Taylor Wimpey España)

The Spanish Confederation of Employers’ Organizations has announced that it expects the Spanish economy to grow by 2% in 2015, with job creation increasing as the country gets back on its feet. Spanish Prime Minister Mariano Rajoy shares this optimism, citing 2015 as the year that his country’s economy will “take off.” Even the IMF is joining in the positivity, with Spain one of only two countries to have its forecast revised upward in the latest report, with another prediction that the economy will expand by 2% this year.

The Spanish property market is also looking up, with BBVA Bank reporting,

“2015 may mark the beginning of a moderate recovery in residential developments. The improvement in housing sales continues. The latest housing sales figures demonstrate the improvement throughout 2014: sales leapt at a rate of 20.7 per cent.”

So who was buying in Spain in 2014 and who will do so as 2015 unfolds?

Marc Pritchard, Sales and Marketing Director for leading homebuilder Taylor Wimpey España, shares his insights based on the company’s annual performance figures,

“A total of 32 nationalities bought properties from us during 2014, demonstrating Spain’s global appeal. Our average selling price was up and we noticed a rise in the number of buyers from the Netherlands, Denmark, Austria, Luxemburg, France and Spain itself.

“Looking forward, I believe that Belgian and Dutch, and also Swiss buyers, will be particularly influential in the Spanish property market during 2015. In fact, the Taylor Wimpey España website has just been launched in French and plans are in place to launch a Dutch language version later this year.”

Official statistics from Spain support the company’s findings, recording French purchasers making up 10.48% of the market. During the same period, German buyers accounted for 6.45% of sales and Belgians 6.19%, while Brits led the pack at 18.06%.

Spanish property’s excellent value for money and the strongest £ to € exchange rate in 7 years are the key drivers behind this mixture of nationalities looking to pick up homes here, as Marc Pritchard explains,

“There are some incredible bargains on the market at the moment, particularly in popular areas like the Costa Blanca. In Alicante, for example, the delightful La Recoleta III development has two bedroom apartments available from just €142,000, which is excellent value, particularly given the site is just a few metres from the beach.”

The properties at La Recoleta III are due for completion in November 2015, but for those who want their Spanish home sooner, the Costa Blanca’s Brisas de Alenda Golf at Elche offers key-ready, three bedroom townhouses for the fantastic price of €145,000. The development comes complete with private gardens and communal swimming pool, as well as enjoying access to the stunning golf course. The properties themselves have been designed with light and space in mind and enjoy terraces that make the most of the views of the spectacular Sierra de las Aguilas mountains and the serene golf course.

With such bargain prices available, it is clear that Spain deserved its 2014 entry into the number ten spot of the Organisation for Economic Co-operation and Development’s study of the countries where property is cheapest. Its appeal to overseas buyers is expected to continue during 2015 and well beyond, as the Iberian country’s charms continue to work their magic on buyers from across the globe.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Best exchange rate for 8 years prompts Brits to snap up bargain second homes across Europe

Best exchange rate for 8 years prompts Brits to snap up bargain second homes across Europe

by Louise Albania Portugal Spain , , ,
  • GBP/EUR exchange rate reaches 1.34
  • Buyers of mid-price properties saving as much as £60k (Kyero.com)
  • Brits eyeing up European property as far afield as Albania (Lalzit Bay Resort & Spa)

With the euro at an eight-year low against the pound, can we expect Brits to rush out and grab that bargain second home in the sun that they have dreamed of for so long, or have we become more cautious of the market’s fluctuations since the crash of 2008?

“Definitely the former,” says Martin Dell, Director of leading Spanish property portal Kyero.com. “We’re seeing British buyers eyeing up cut-price properties across Spain in high numbers right now, as they can get so much more for their money than they could a few years ago. But what’s interesting is the number of buyers looking to snap up properties with heftier price tags too.”

Dell cites the example of a new build three bedroom villa with pool in Benijofar, Valencia, which is on the market for €335,000. At the current exchange rate, it will cost a British buyer £250,000, while back in 2009 it would have cost £310,000.

Such substantial savings are tempting many buyers to see now as the perfect time to invest in a second home, as Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España, observes,

“With the exchange rate looking so favourable, it really is a case of the more you spend, the more you save at the moment. It certainly seems to have got British buyers moving once more when it comes to Spanish property. We are down to just three townhouses left at our Montesol development and two at Calpesol on the Costa Blanca.”

Nor is it just Spain that Brits are eyeing up for their bargain dream homes. Portugal is also attracting UK buyers in their droves right now as Chris White, founding director of boutique real estate agency Ideal Homes Portugal, explains,

“The best exchange rate since 2007 is certainly not something that many British buyers are going to pass up on and Portugal is the perfect place to get more bang for your buck. Even for buyers just looking for a good value apartment, rather than a substantial villa, the savings are impressive. Right now we have some luxury, two bedroom apartments in the most sought after area of Lagos, being sold off plan at €225,000. This equated to around £184,500 a year ago, but right now one would cost closer to £168,500.”

The exchange rate ripples are even being felt as far into Europe as Albania, where the country’s first high-end resort, Lalzit Bay Resort & Spa, is tempting savvy Brits to invest now before the exchange rate starts moving back the other way. Marketing Director Peter Walshe comments,

“Lalzit Bay Resort & Spa is already a great investment under normal circumstances, but with the current exchange rate it offers incredible value to British buyers. We’re expecting a very busy few weeks ahead until the rate begins to settle again!”

So will Brits be dashing out to purchase a cut price second home now that they can get so much more for their money? Absolutely, it seems.

For more information please contact:

Kyero.com: www.kyero.com

Taylor Wimpey España: +44 8000 121 020 or www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Lalzit Bay Resort & Spa: +44 845 125 8600 or www.lalzitbay.com

Ideal Homes Portugal: +44 800 133 7644 or +351 289 513 434 or www.idealhomesportugal.com

Rent a Dragon’s Den for the ultimate luxury holiday in the sun

Rent a Dragon’s Den for the ultimate luxury holiday in the sun

by Louise Portugal
  • Dragon Duncan Bannatyne’s luxury villa available for hire (Ideal Homes Portugal)
  • 2014 Algarve tourism levels best in recent years (INE)
  • Strong Pound makes Portugal attractive choice for summer holidays this year

From glossy interiors spreads in Hello! to full-on home invasions from MTV Cribs, it seems we’re obsessed with knowing how the other half live. TV stars, politicians, royalty, musicians and sportsmen – all have, at some point, allowed the public through the keyhole for a tantalising glimpse of their homes.

But what about those who want to go one step further? Now, boutique real estate agency Ideal Homes Portugal has the ultimate in celebrity lifestyle offerings, with families able to book to stay in the newly acquired Portuguese home of former Dragons’ Den star Duncan Bannatyne.

The health club magnate bought his luxurious Algarve retreat, which comes complete with five bedrooms, swimming pool and charming garden area, in 2014. He and his family plan to use it for part of the year and rent it out for the rest, affording members of the public the rare opportunity to actually stay in a celebrity’s home.

Holidaymakers can enjoy access to the excellent golfing facilities at Vale do Lobo, as well as several pristine beaches located nearby. Dining and entertainment options in the area are also first rate.

Chris White, Founding Director of Ideal Homes Portugal, who sold Duncan the property, comments,

“It was great to be able to work with Duncan to find the perfect Portuguese property for him and it’s fantastic that holidaymakers in the Algarve have the opportunity to enjoy his villa as well. It really is a superb property with plenty of room for families or groups of friends to spread out and relax.”

Portugal is a popular destination with visitors from across the globe. With a reputed 300 days of sunshine annually, the country’s southern Algarve region plays host to many happy holidays throughout the year. The cost of living is low, the beaches are sandy, the cuisine is delightful and good wine can be had for €2 per bottle.

This fabulous combination worked to make 2014 a particularly good year for tourism in the Algarve. The number of visitors in the first ten months of the year exceeded that for the whole of 2013, according to data from the National Statistics Institute (INE). Desidério Silva, president of the RTA regional Algarve tourism board, comments,

“In 2014 we have achieved the best numbers in recent years and the Algarve continues to be the driving force of tourism in Portugal.”

Food and wine were key attractions during 2014, as indeed they were in 2013, when they brought a record 14 million visitors to Portugal (up 4.2% from the year before), according to Travel Pulse. 2013 also saw a marked increase in US visitors to Portugal, with overnight stays by Americans up 16.4% and expenditure by them up 21%.

The Dutch are also falling for Portugal’s charms right now, with users of holiday review website Zoover voting the Iberian nation as their second favourite destination (after Austria). Russian holidaymakers too are pouring in, having moved away from previously popular destinations such as Goa, which are now viewed as far less welcoming to Russian tourists.

Part of Portugal’s charm is its ability to offer something for everyone. HolidayLettings.co.uk lists five bedroom villas in Vale do Lobo, for example, at prices ranging from £173 per night to £3,605. One and all are welcome, from those who want nothing more than to sit on the sand with the waves lapping at their toes to those who plan to spend their holidays as high rollers in the region’s casinos.

With both the pound and the dollar looking good against the euro right now, Portugal’s attractions as a holiday destination are even more tempting. As many families start planning their summer break, it looks like 2015 could be another bumper year for the Algarve.

For further details of properties available to rent including Duncan Bannatyne’s villa or indeed buy in Portugal, call Ideal Homes Portugal on 0800 133 7644 or +351 289 513 434, email enquiries@idealhomesportugal.com or visit www.idealhomesportugal.com.

Buyers from all over the world agree that whole property ownership is passé

Buyers from all over the world agree that whole property ownership is passé

by Louise Italy

Many people dream of owning a second home overseas where they can spend afternoons basking lazily in the sunshine, filling up on local delicacies and enjoying happy memories with their family and friends. What many don’t consider is the amount of work involved in maintaining a property that is only used for several weeks of the year, or the on going costs.

It’s not just about cleaning, though of course a holiday home will need a thorough spring clean each time it is used. It is the maintenance that catches many people out. The fact that the garden does its best to turn into a rampant wilderness between each use, or that a freak storm took off some of the roof tiles on its way past. Suddenly, the dream of lazing about in the sun for days on end transforms into a reality of sweating in a poorly ventilated hardware store while leafing frantically through a travel dictionary to work out which product will repair that cracked window frame and which will accidentally dissolve it.

For many families, the experience has led to the conclusion that whole ownership has become passé in this day and age when there are alternative options available. Fractional ownership presents a much neater solution, allowing them to enjoy a fully managed property that allows them to relax from the moment they arrive.

Fractional ownership also enables the purchase of a much more luxurious property than whole ownership, as South African Jane Thomas observes,

“We loved the idea of a holiday home in Italy but the logistics of owning from South Africa seemed too difficult. What we wanted and what we could afford didn’t really add up.”

Luxury fractional ownership company Appassionata provided the perfect solution. Jane’s family and their friends purchased a share of the five bedroom Casa Leopardi, set on the pretty Giacomo Leopardi estate in rural Le Marche. The fractional nature of the property means that they can begin enjoying Italy as soon as they have set down their cases. While those who own second homes outright are beginning the process of airing out the property, disposing of spiders and checking for damp, Jane can sip Casa Leopardi’s own wine on a lounger by the pool.

Not only is whole ownership passé, but fractional ownership itself has evolved, with the concept of urban fractional taking off, as owners seek to experience real life in the country of their choice. Appassionata’s founder, Dawn Cavanagh-Hobbs, explains,

“Feedback told us that owners wanted to be a part of Italy’s beating heart, not just observe the country from the side-lines, so we knew we had found the perfect property when we came across Casa Tre Archi. As with all of our properties, it required extensive renovation work in order to turn it from a run-down and neglected townhouse into a luxury holiday home, but we persevered and those who have already bought shares have been delighted with the result.”

The trend for urban Italian properties is one that Jane Smith of local estate agency Magic Marche has also observed. She comments,

“Townhouses have definitely returned to popularity. We have seen the re-emergence of people looking for a pied a terre, somewhere for weekends and short breaks throughout the year; somewhere to immerse yourself regularly, almost at whim, in Italian culture, without the cost of running a big country house with land.”

Appassionata’s Casa Tre Archi is located in the medieval hilltop town of Petritoli. Owner Chris Everard from the UK describes the property best,

“The four-storey Tre Archi house in Petritoli, built into the mediaeval wall of this delightful hilltop town, made everyone smile with joy as we walked in to explore and as ever with Appassionata, it exceeded our expectations. The attention to detail, the luxury of a smart TV, broadband and three bathrooms makes the living experience relaxing, fulfilling and a joy to share.

“Turn right out of the front door walk underneath the mediaeval walls and arches past Andrea’s restaurant and up towards the Tre Archi bar. Stop for a cup of tea, a home-made ice cream, coffee with a croissant in the morning or enjoy the evening sunshine with a wind down beer or wine. Carry on into the village centre and you will find 2 or 3 other great bars, a very well-stocked supermarket, pharmacy, bank and a number of other restaurants.”

Casa Tre Archi’s spacious roof terrace allows owners to enjoy views of the beautiful countryside as they dine al fresco, with the chiming of local church bells and the happy noises of town life creating the perfect aural backdrop. Its owners delight in being able to immerse themselves in Italian life and in enjoying a far more luxurious property than whole ownership would allow. As Appassionata’s Dawn concludes,

“Why let your budget limit your second home dream, when with a little imagination you can enjoy owning a share of a luxury property from as little as £65,000. Fractional ownership is the perfect solution for those who want to spend their holidays having fun and let someone else take care of the cleaning, garden maintenance and minor repairs. For many of us, our time on holiday is limited. Fractional ownership ensures that families and friends can enjoy every minute of their time away.”

For more information visit www.appassionata.com, email India on ifh@appassionata.com or contact the Appassionata team on +39 33154 13225.

Taylor Wimpey España marks solid start to 2015, with healthy 2014 figures released

Taylor Wimpey España marks solid start to 2015, with healthy 2014 figures released

by Louise Spain
  • Strong start to 2015, with interest in property booming (Taylor Wimpey España)
  • 2014 saw first Spanish property price rises in 6 years (national statistics office)
  • 32 nationalities bought in Spain during 2014 (Taylor Wimpey España)

2014 turned out to be an excellent year for leading homebuilder Taylor Wimpey. The company re-entered the FTSE 100 while its Spanish arm, Taylor Wimpey España, recorded ‘a significant improvement in performance,’ as stated in the Taylor Wimpey trading statement for the year ending 31 December 2014.

Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España, comments,

“We were delighted to see sales of our Spanish properties jump by almost 39% during 2014. The increase is testament to the carefully selected locations and high spec finishes of the properties that Taylor Wimpey España is constructing and shows that even in a difficult market, the right property is still much in demand.”

At the end of the year, the company’s order book was also looking healthy, with 19.5% more properties on it than at the end of 2013.

Spain has long been a popular tourism and second home destination for buyers from across the world. In fact, Taylor Wimpey España sold properties to buyers of 32 different nationalities during 2014, evidencing the widespread appeal that Spanish property holds. Buyers from across the globe see Spain as the ideal location for a second home.

“Spain really does have everything a holidaymaker could wish for,” continues Pritchard. “Sunshine, beautiful beaches, great food and wine, friendly people – it’s all here.”

The Costa Blanca is one of the country’s most popular areas, offering all of this and more, and will be key to the Spanish homebuilder’s year ahead. Key-ready golf properties at Brisas de Alenda are available from just €145,000, while a newly released phase at La Vila Paradis, where prices start at €239,000, is already attracting considerable global attention.

The Costa Blanca is so popular, in fact, that only two townhouses remain available at Taylor Wimpey España’s Calpesol development (prices from €179,500) and just three at its Montesol site (from €252,000).

With house prices in Spain rising for the first time in six years during 2014, according to the country’s national statistics office, the market seems to have finally turned a corner and is looking to the future. Given the success that Taylor Wimpey España achieved during the hard times and the stability of the Spanish property market during 2014, the future looks promising.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.

Operational approval of ‘ghost airport’ set to turn undiscovered Spanish city into 2015 property hotspot

Operational approval of ‘ghost airport’ set to turn undiscovered Spanish city into 2015 property hotspot

by Louise Spain
  • Undiscovered city of Castellon tipped to become Spain’s 2015 property hotspot (Kyero)
  • ‘Ghost airport’ opened in 2011 finally granted authorization to operate (AESA)
  • Penthouse apartment with pool and sea views just €199,950 (Kyero.com)

With its ‘ghost airport’ now officially up and running, the eastern Spanish city of Castellon is tipped to be the property hotspot of 2015, according to leading Spanish property portal, Kyero.com.

Offering a charming old town packed with historic buildings and a pretty Mediterranean coastline, Castellon de la Plana is a city with a rich history. In 2011, it should have been propelled onto the global holidaymaker trail when its brand new airport opened, but the global economic downturn meant that not a single scheduled passenger service ever left or arrived at Castellon airport.

For more than three years, Castellon airport operated nothing more than general aviation services and the occasional charter flight, but December 2014 saw it finally granted authorization to start handling flights.

Martin Dell, Director of Kyero.com, which lists over 175,000 Spanish properties from 2,500 estate agents, believes the move will trigger a great deal of interest in the eastern city.

Kyero’s buyer enquiries certainly support the idea and reveal precisely what it is that buyers are looking for in Castellon. Interestingly, it is the French who seem most interested in Castellon at this early stage in its entrance onto the global stage. Enquiries from French buyers account for 48% of the total, followed by English buyers at 30%.

When it comes to property type, homes in the €50k-€100k price range attract some 36% of enquiries, followed by homes under €50k (with 30% of enquiries). 61% of buyers are looking for apartments and 39% want three bedrooms, closely followed by 34% wanting two bedrooms.

Martin Dell comments,

“Castellon is one of Valencia’s most interesting cities and largely unknown up until now. The opening of the Castellon airport is likely to see a localised property boom, with prices rising and international interest in the area really taking off.

“As well as the city of Castellon itself, nearby Peniscola, Vinaros and San Jorge also look set to benefit from Spain’s ghost airport finally gearing up to receive the international jets for which it was built.”

The rise of Castellon is certainly bound to pique the interest of property investors looking for Spain’s hottest investment location in 2015. Many will want to act quickly, before Castellon is ‘discovered’ by too many more people. This traditional country house, with three bedrooms and generous plot of land, just 24km from the coast, costs just €160,000, while this modern Peniscola penthouse with pool and sea views is on the market for €199,950.

As the story of Castellon airport unfolds over the course of 2015 and travellers start discovering this delightful coastal city, it will be fascinating to see how the property market there flourishes now that the ghosts of the past have been banished to the history books.

For more information and to keep up to date with the latest in Spanish property trends, visit www.kyero.com.

New master plan sets Salford Quays on track become the ‘South Bank of the North’

New master plan sets Salford Quays on track become the ‘South Bank of the North’

by Louise United Kingdom
  • Salford Quays aiming for 3.4 million visitors per year by 2017
  • Property prices up 12.34% in 2 years (Zoopla)
  • Stunning waterfront investment property from £126,000 (Property Frontiers)

London’s South Bank is a world famous tourist destination that exemplifies how much can be achieved when businesses join together to promote an area under a single brand. Now, Salford Quays in Greater Manchester is mirroring the South Bank’s approach, with ten companies joining forces in an ambitious master plan to turn the area into ‘the South Bank of the North.’

Salford Quays has already undergone extensive regeneration and transformation work, which has resulted in the area being one of the North of England’s most attractive and enticing areas to live. The plan to create the South Bank of the North will see further improvements undertaken thanks to the combined efforts of a consortium of businesses including the BBC, ITV, Manchester United Lancashire County Cricket Club, the University of Salford and local councils.

The aim is to attract some 3.4 million visitors to the area annually by 2017, generating income of £340m. The improvements undertaken as part of the plan will focus on water quality, positioning Salford Quays as a hub for water sports. Parking and transport links will also be improved.

It may seem an ambitious target, but Salford Quays isn’t stopping there. The Destination Management Plan actually runs to 2025 and covers further improvements to areas as diverse as water quality, accessibility and wildlife.

“What makes these plans particularly exciting,” explains Ray Withers, Chief Executive of leading property investment firm Property Frontiers, which offers buy-to-let accommodation in the area, “is the fact that Salford Quays is already an excellent place to live. The Lowry Theatre and massive Lowry Outlet shopping mall are top destinations for locals and the Imperial War Museum North, plus the Banksy chimp that was discovered last year add a lovely cultural offering.”

Just 15 minutes from central Manchester by train, Salford Quays also provides easy access to the city for those looking for even more leisure and entertainment options. The area is also packed with restaurants, coffee shops and bars, as well as enjoying stunning views across the water.

Naturally all of this regeneration work has driven up property prices, with Zoopla recording a 12.34% increase in the last two years. The future plans will no doubt continue this trend, which is why demand for investment property in the area is so strong. Withers comments,

“Salford Quays looks set to be one of the UK’s most exciting property investment destinations this year. It’s got everything that professionals and their families want – plentiful employment opportunities, great cultural facilities and world-class entertainment options. With so many people looking to rent, rather than buy, investors in buy-to-let accommodation in Salford really are set to enjoy a fantastic opportunity.”

With such detailed long-term plans in place, Salford Quays is clearly an area that is determined to be one of the UK’s leading cities for quite some time. Those wanting to be part of its future can invest with Property Frontiers in the new released Custom Quay development, where apartments start from £126,000 with 6.5% expected yield and management options available.

For further details, visit www.propertyfrontiers.com or call the team on +44 1865 202 700.

Italian property entrepreneur races across India raising £19,000 for charity

Italian property entrepreneur races across India raising £19,000 for charity

by Louise Italy

Michael Hobbs has just returned from India. The property entrepreneur, who founded luxury fractional ownership company Appassionata with his wife and family back in 2005, was part of a team of five friends known as the Bullet Boys.

Together, the Bullet Boys undertook a 2,000 km endurance ride through southern India on Royal Enfield Bullets in order to raise money for the Adventure Ashram charity, which works to help the poorest people living in southern India and the Himalayas.

The aim of the trip was to raise funds and awareness for the Odanadi Charity in Mysore, which rescues children from human trafficking and the Indian sex trade. More than £19,000 was raised in total, which has helped to pay for the construction of a dining hall and kitchens for the rescue home. It was the second such trip to have been undertaken by the Bullet Boys and no doubt will not be the last.

Michael Hobbs, comments,

“2014 was good for me both professionally with Appassionata and personally with the Bullet Boys trip. Being able to finish the year by travelling across India to raise money for charity was an amazing and fulfilling experience.

“The trip certainly took some stamina – 2,000 km often on unpaved roads and mud tracks requires serious grit and determination – but India is such a beautiful and varied country that I felt very lucky to be back there. The Odanadi Charity in Mysore does such incredible work and it was a privilege to be able to contribute to the safe and happy future of the special children with whom they work.”

The trip took the Bullet Boys through terrain ranging from arid plains to dense forests, testing their fortitude and team spirit to the max. There were some exhausting moments, but all five kept in mind their charitable purpose and were able to complete the ride. The next charitable venture is already in the planning stage.

For more information visit www.appassionata.com, email Michael on mph@appassionata.com or contact the Appassionata team on +39 33154 13225.

The Quay to a great return

The Quay to a great return

by Louise United Kingdom
  • Property prices up 12% in Salford Quays during H1 2014 (Zoopla)
  • New waterfront investment properties from £126k (Property Frontiers)
  • 1,000 relocated staff poised to drive prices up further (BBC)

Salford is an area with a fascinating history. Located on the Greater Manchester waterfront, it was home to Manchester Docks until 1982, when the closure of the dockyard resulted in some 3,000 job losses. Since then, Salford Quays has undergone massive regeneration and emerged like a phoenix from the ashes as one of the UK’s top property hotspots.

According to Zoopla, Salford’s property price rises even outpaced those of London during the first half of 2014, with a 12% hike in prices positioning Salford as having the fastest rising home values in the UK.

One of the key factors behind this success is Salford’s growing reputation as the UK’s most exciting new media destination. When the BBC decided to relocate thousands of its staff there and open MediaCityUK, demand for property rocketed and Salford hasn’t looked back since.

“Salford Quays is definitely the place to be within Greater Manchester,” comments Ray Withers, Chief Executive of leading property investment firm Property Frontiers. “Visually, the area is simply stunning, blending contemporary architecture with a delightful waterfront setting. It’s a great place to hang out too, with independent stores, coffee shops and plentiful other attractions.”

The BBC may have propelled Salford onto the national stage rather suddenly, but the city has wasted no time in using its newfound fame to the full. Indeed, plans are in place to establish it as ‘the South Bank of the North’ thanks to its particular blend of cultural and business prowess.

The latest regeneration work in Salford Quays will see an iconic commercial waterfront building turned into 60 uniquely designed duplex apartments and mews homes with fabulous views across the water. The development – Custom Quay – will feature a communal roof garden with panoramic views and within easy access of the tram, MediaCityUK and the Lowry Centre.

Prices at Custom Quay start at just £126,000, which is excellent value for one of the UK’s most exciting property hotspots. Property Frontiers clients can also enjoy LTV finance of up to 75%, as well as 6.5% yields with a full management option.

With a further 1,000 BBC staff still due to relocate to Salford, pressure on local housing stock is set to increase dramatically in the near future and prices are likely to continue soaring for some time to come. Many savvy buy-to-let property investors have already added one or more Salford properties to their portfolios and have been delighted to see their capital grow so quickly over such a short space of time.

With further price rises anticipated, those who have yet to purchase their Salford property still have time, though they will need to act fast in order to take full advantage of the area’s potential. Thankfully, Custom Quay affords property investors a way to do just that.

For further details, contact Property Frontiers or call the team on +44 1865 202 700.

 

Building a better future – Real estate construction to boost Spanish economy during 2015

Building a better future – Real estate construction to boost Spanish economy during 2015

by Louise Spain
  • Spanish construction up 13.9% in October (Eurostat)
  • Construction and real estate to drive Spanish economy in 2015 (Arcano)
  • Newly constructed golf properties from just €145,000 (Taylor Wimpey España)

The cranes are on the move once again in Spain, as the construction sector finally picks up its tools following a seven year pause. October 2014 saw the sector register a 13.9% increase in activity compared with a year earlier, according to Eurostat, while financial advisors Arcano have pegged real estate and construction as two of the driving forces behind the Spanish economy in 2015.

Only the biggest and the best in the sector carried on building through the downturn, as Marc Pritchard, Sales and Marketing Director for leading Spanish homebuilder Taylor Wimpey España, explains,

“The past few years certainly haven’t been easy for Spain’s construction and real estate sectors. Many developments were simply left mid-construction when the hard times hit and it has taken until now for a lot of companies to have both the confidence and the financing to begin building once more.”

Taylor Wimpey España, which is the Spanish arm of FTSE 100 listed homebuilder Taylor Wimpey, continued building throughout the crisis years and was rewarded with strong sales figures as a result. While domestic demand may have dwindled, many overseas buyers remained keen to pick up second homes in Spain and the company found that its signature blend of beach access, pools and high end properties was the perfect combination to meet the needs of those looking to buy.

“It really felt like we were the only ones still building at some points,” continues Pritchard. “So it was great to see the sector picking up again late last year. I think 2015 should see it come surging back to something like its former glory as there’s pent up demand for new properties. This year should definitely mark a turning point for the Spanish construction and real estate industries.”

A recent report from independent financial advisors Arcano supports Taylor Wimpey España’s thinking, highlighting real estate and construction as two of the most significant engines of economic growth in Spain in 2015. The company has predicted a resurgence of both house prices and residential building in Spain this year, driven by improved financing and mortgage options, foreign investment and recovering domestic demand.

Taylor Wimpey España is certainly expecting big things during 2015. Its Miraval development, which offers a rare opportunity to purchase a high end apartment near the fantastic La Cala Golf Resort at Mijas Costa (on the Costa del Sol) is tipped to be one of the most popular this year, with seven of the 27 units having sold already. The apartments enjoy large terraces (gardens on the ground floor), golf and sea views and a southerly orientation. Prices start at €245,000 and completion and handover is scheduled for October 2016.

Over on the Costa Blanca, key ready properties are available at Las Brisas de Alenda Golf, in sight of the spectacular Sierra de las Aguilas mountains. Select properties enjoy direct access to the stunning Alenda Golf Course, while the beach is just 15 minutes away. As with all Taylor Wimpey España sits, pretty gardens and a communal pool complete the offering. Prices for a three bedroom/two bathroom home are from €145,000.

With both construction activity and house prices on the up, no doubt many buyers will see early 2015 as the optimum time to buy their dream property in Spain, while bargains like these still abound.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit www.taylorwimpeyspain.com. Those residing outside of the UK should call 0034 971 70 69 72.