Brexit begins to bite Spanish holiday home budgets reports Kyero.com

by Sophie Evans Spain Kyero

62% of enquiries in September were for properties costing €150k or less
Interest in properties costing €250k or more is falling
Top 5 Spanish destinations all boast average enquiry price of €150k or less

“Brexit isn’t denting Brits’ love for Spain, but it is taking a bite out of their budgets.”

This is the message from the latest market report from leading Spanish property portal Kyero.com.

The company’s Spanish Property Report September figures reveal that buyers are beginning to trim their budgets, with enquiries falling on properties over €250,000 and increasing on homes costing €150,000 or less. Overall for the month, 62% of enquiries were for properties costing less than €150,000.

Richard Speigal, Head of Research at Kyero.com, comments,

“September has thrown up the first visible effect of Brexit on the Spanish holiday home market. Overseas interest remains extremely buoyant but buyer budgets have notably reduced.

“With British buyers making up 21% of foreign house sales in Spain (and 27% of Kyero.com’s traffic), the strength of sterling is important. Its fall since the referendum has reduced purchasing power, but seemingly not people’s willingness to buy abroad.

“If Brits do drive a harder bargain it is possible we will see some localised discounting in the coming months, particularly in provinces where they are most active such as Alicante and Malaga. On the flip side, the ballooning price of property in the UK has gifted the 50+ age group enormous power to purchase second homes. With an abundance of property for less than £90,000 and a market returning a steady 5% per year, Spain remains a hugely compelling option.”

Kyero.com’s analysis of trending destinations emphasises buyers’ pursuit of less expensive properties.

The top five destinations were all priced at €150,000 or less. Torrevieja was the most popular area for enquiries during September, with an average price of €110,000. While that kind of money wouldn’t go far in the UK, in Torrevieja €110,000 is enough for properties ranging from a three bedroom penthouse apartment just 200m from the sea to a picturesque townhouse close to the beach.

Homes at Murcia’s Alhama Golf Resort were the second most enquired after location during September, with an average price of just €73,000. Properties in LLiria were next, at an average cost of €110,000, which is sufficient to buy a detached, four bedroom villa with its own pool.

The fourth most popular destination – Alicante – saw prices rise to an average of €144,900, which is enough for anything from a three bedroom apartment with communal pool to a four bedroom country house with pool and barbecue. Corralejo, on the island of Fuerteventura, took the fifth spot, with an average price of €150,000 – enough for a range of contemporary villas close to the beach.

With 434,000 users in September and 62,596 recorded property enquiries, Kyero.com’s research provides significant insights into the state of the Spanish property market and in particular the impact that British buyers are having. Brits are the single largest overseas nationality in the market and their actions are significant as a result. Analysts will be watching carefully to see the knock on effect that Brexit may have on Spanish house prices as a result of British buyer activity over the coming months.

For further details visit www.kyero.com.

Taylor Wimpey España reveals new sea front development as Alicante is the third best province for property purchases in Spain

by Sophie Evans Spain Taylor Wimpey Espana

Alicante is the third best province for property purchases in Spain
In Q2 2016, a total of 7,906 were purchased in Alicante, which is an increase of 20.7% from the same period last year (School of Property Registrars)
Taylor Wimpey España launches new frontline development on the Costa Blanca

Coastal areas continue to lead the way in solidifying Spain’s property recovery and is taking the industry to new heights. Alicante is the third best province in the property purchases in Spain, as figures released by the School of Property Registrars have revealed that in Q2 2016, a total of 7,901 homes were purchased, which is an increase of 20.7% from the same period last year.

This is extremely positive news for the province and it is noted that the majority of these property purchases are concentrated in the coastal areas. Foreign investing purchasers make up to 50% of all of the buyers and it is therefore the perfect destination for those wanting a home to enjoy on the sun-kissed coast of Alicante.

Answering this growing demand, leading Spanish homebuilder, Taylor Wimpey España have just revealed details of their newest frontline development, Arenal Dream, situated in Javea, Alicante. Taylor Wimpey España are confident in the growing success of the Spanish property market and expect that there will be a continuation of this current positive trajectory. Marc Pritchard, Sales and Marketing Director, explains,

“This newest report confirms our confidence in Spain’s real estate market and we believe that this growing interest in Spanish property will thrive. The start of the year has been incredibly encouraging and the positivity surrounding the market is attracting a wide range of international buyers. We are delighted to announce the launch of our latest project and I look forward to speaking with prospective buyers.”

New sea front developments in Spain have always been in high demand and are a rare find in today’s market. Taylor Wimpey España are excited to present this new development complete with sea views and believe it will prove extremely popular with British, other European and indeed other global buyers looking for their own Spanish sea view.

Arenal Dream, Taylor Wimpey España’s newest sea front development is situated in the area of El Arenal, only 300 meters from the beach of El Arenal, awarded with a Blue Flag, and one of the best beaches in the Valencian Community. The stunning development consists of 47 properties, comprised of 2 and 3 bedroom apartments with luxurious communal areas that include a swimming pool and gardens to create a beautiful environment to relax.

With prices starting from just €220,000, all residents can enjoy the ample terrares are integrated as part of the living room that receives sunlight through the large French windows. Each property comes with an underground parking space and ground floor apartments have back and front private gardens to enjoy. It is a privileged location with many services a walking distance away such as leisure, dining, banks and supermarkets.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.

Fuster & Associates launch legal seminars for ripped-off Brits wanting to reclaim Spanish property deposits

by Charly Spain Fuster&Associates

Spanish legal experts Fuster & Associates open in the UK to help Brits recover off plan deposits
‘No Win, No Fee Off-Plan Deposit Reclaim’ seminars to be held in Cambridge, London, Birmingham & Manchester
‘If it wasn’t for them I have no doubt we’d still have not received the amount we have’ (Gillian Shackshaft, client of Fuster & Associates)

After the crash of 2008, many Brits who had put down a deposit for their dream Spanish property suddenly found themselves with no house and no help. And it wasn’t until December 2015, some 8 years later, that an element of hope was restored when the Spanish High Court ruled that Spain’s banks were liable to refund deposits placed on unfinished properties that were paid from their accounts.

Having now won over 100 cases, Spanish legal specialists Fuster & Associates provide international clients with a No Win, No Fee Off-Plan Deposit Reclaim service, managing their claim throughout the process. With 65 claim cases currently awaiting a verdict, it seems that Brits were among those most affected by the crash and are still determined to reclaim the money subsequently lost.

In order to provide a more personal service and hold face-to-face meetings with those wanting to recover their off-plan deposits, Fuster & Associates have opened in the UK. The experienced company are also preparing to host a selection of exclusive seminars that will allow Brits to meet the team of expert lawyers and ask any questions they have regarding the reclaim process.

Founder David Fuster explains more,

“With the majority of our clients based here in the UK, it was important for us to be able to offer advice and guidance in person throughout the legal procedure. Holding seminars in Cambridge, London, Birmingham and Manchester will provide people with the opportunity to ask any questions they may have about the service after having waited over 8 years for the chance to recover their lost funds.”

One couple who Fuster & Associates have successfully helped reclaim their deposit money are incredibly grateful and are now hoping to put the whole ordeal behind them. Gillian Shackshaft and her husband first bought their Spanish off-plan property in 2006 on their dream development in the Almeria region located in southern Spain.

Unfortunately their plans began to unravel quickly and in December 2006 their contract allowed them to claim back the deposit previously paid as the builders of the development were in breach of contract. However, after seeking the help of Fuster & Associates they discovered that they could only recover a portion of the deposit that was covered by the bank guarantee.

It was then that the long legal process began, with the expertise of Fuster & Associates, to reclaim the rest of their initial deposit. The stress of the experience caused Gillian’s husband to suffer a heart attack in 2009 and she is thankful to Fuster & Associates for their patience and understanding during this time.

She comments,

“It has taken 10 years to get all our money back and throughout this whole, long process they have been there with us, if it wasn’t for them I’d have no doubt we would still have not received the amount we have. I have to say a special thank you to Jose at Fuster & Associates who has been very patient with me as it’s been a stressful and extremely worrying period.

“I would definitely recommend Fuster & Associates to family, to friends and to anyone who is unfortunate enough to find themselves in the situation that we were in.”

To find out more about Fuster & Associates, their services and seminars they offer, please visit http://fuster-associates.com/lp/off-plan-reclaim/ or call directly on 01223 635 158.

Andalucian Open returns to ‘Costa del Golf’ as golfers go in search of the perfect pad close to the fairway

by Eleanor Spain Taylor Wimpey Espana

68% of golf courses in Spain directly or indirectly linked with a real estate development (Real Federación Española de Golf)
Time it takes to sell a property in the Costa del Sol has reduced by over half (Aguirre Newman)
Taylor Wimpey España open new show home at Horizon Golf development in Mijas

The prestigious Andalucian Open is returning to one of Europe’s most idyllic golfing destinations, the Costa del Sol, this September.

The event, held between 22^nd and 25^th September, is set to be broadcasted to over 100 countries and will see pro golfers Lydia Ko and Michele Wie go head to head. Having hosted over fifty tournaments in the last four decades, this region of Spain is more than prepared for the thousands of visitors due to attend this prestigious event.

As the Costa del Sol continues to host international events, the golfing prowess of the area is causing local property to become increasingly desirable to fans of the sport. The latest figures released by the Real Federación Española de Golf show that 68% of golf courses in Spain now have a direct or indirect link with a real estate development and it seems those situated on the Costa del Sol are firm favourites.

According to the most recent statistics from property consulting agency Aguirre Newman, the time it takes for a property to go on the market for sale in Spain and then be purchased by a buyer has been reduced by more than half this year. Further emphasising the growing demand is the number of new builds being introduced to the market which has increased by nearly 5% in comparison with 2015 figures. The first rise of this kind since 2007.

Seeking to provide the perfect property for golf lovers, leading Spanish homebuilder Taylor Wimpey España has recently announced that the highly anticipated show house within their Horizon Golf community is now available to view.

Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España believes golf properties are favourable with holiday home buyers and investors alike. He explains,

“For fans of the sport, golf properties provide the idyllic base for any holiday or retirement plans with high quality facilities right on the doorstep. Buyers should consider properties near a golf course that is also considered a resort, offering an array of additional facilities to keep the non-golf players in the party equally as happy. Down on the Costa del Sol, also known as the ‘Costa del Golf’, the plentiful sunshine and dry, warm days allow for visits throughout every season or equally an exciting rental opportunity.”

Situated in the beautiful valley of Mijas, Horizon Golf is Taylor Wimpey de España’s second development at La Cala Resort within the complex’s famous Campo Asia golf course. With prices starting from €267,000+VAT, the private gated development offers 55 terraced homes, all with 3 bedrooms, 2 bathrooms and a cloakroom, as well as 48 2 or 3 bedroom apartments.

Residents will enjoy stunning panoramic views over the golf course and La Cala de Mijas with each property. Horizon Golf features luxury finishes including fully equipped kitchens, air conditioning, designer bathrooms, bedrooms with motorized blinds and secure, fully lined wardrobes.

All properties benefit from 24-hour security, communal gardens and swimming pool, as well as three 18-hole golf courses, a hydrotherapy centre and spa, La Cala Golf Academy school and an array of sports facilities all close by. Residents can reach the beautiful beaches of the Costa del Sol in just 10 minutes, with Malaga airport only 30 minutes away.

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.

Viva el vino! Perfect Spanish homes for wine lovers as UNWTO raises a glass to wine tourism

by Eleanor Spain Kyero

Inaugural UNWTO Global Conference on Wine Tourism attracts delegates from nearly 50 countries
In Spain, well known La Rioja region is cheapest wine-producing area to buy in (Kyero.com)
Dominio de Pingus is Spain’s most expensive wine at $898 per bottle (Wine-Searcher)
Catalonian wine region will set oenophiles back the most when it comes to bricks & mortar (Kyero.com)

Wine tourism’s position as an important global element of gastronomic tourism has been cemented by the holding of the 1st UNWTO Global Conference on Wine Tourism in Georgia. The event attracted tourism experts, wine professionals and policy makers from nearly 50 countries, all looking to expand upon the considerable success of this global tourism sector.

Data compiled by leading Spanish property portal Kyero.com has revealed how wine tourism can play into other factors within a country, such as the property market. Kyero.com’s data reveals the ideal second home locations for all those with a love of Spanish wine.

The world’s third largest wine producer and its biggest wine exporter, Spain has earned a loyal following around the globe for its robust reds, crisp whites and delightfully drinkable rosé wines. Wine tourism in the country is popular among those who want to explore Iberia’s culinary delights. Now, Spanish wine lovers can take their passion one step further and pick up the perfect property as well as the perfect plonk, thanks to Kyero.com, the main source of trusted information on buying a home in Spain.

Martin Dell, Director of Kyero.com, comments,

“Many of those who visit Spain regularly delight in the country’s cuisine and particularly in the wines that are produced here. We wanted to take this one step further and look at how much it would cost to purchase a home in each of Spain’s main wine-producing regions. I think many people will be surprised to find out just how affordable it is to live in the perfect location for enjoying local Spanish wines within easy reach of the vineyards they came from.”

According to the Cámara de Valencia, La Rioja is “considered to be the foremost wine tourism destination in Spain and a world leader in the field.” The area is known for its vibrant and fruity and rosé wines and its distinctive, oak aged reds.

Yet according to the Kyero.com data, La Rioja is the joint cheapest wine region when it comes to purchasing property, coming in at an average of just €1,300 per square metre. Those on a budget can pick up a one bedroom, one bathroom apartment in the pretty city of Logroño – the autonomous community of La Rioja’s capital – for a mere €29,200. That’s the same price as just 70 bottles of the region’s priciest vintage, Contador.

Equally affordable, at €1,300 per square metre, is Cadiz province, in the Andalusia wine-producing region. Prices in the Andalusian city of Jerez de la Frontera – a name which fans of sherry will be familiar with – are even more affordable, at just €1,100 per square metre. But it’s not just bargain basement properties that can be picked up in Jerez. This six bedroom, three bathroom country house estate with swimming pool is priced at €768,750. The accommodation is split across two houses, with excellent equine facilities including stables, tack storage and a barn for hay and raising foals, as well as extensive meadowland and farmland.

Ourense province is the next cheapest wine region when it comes to property purchase prices, coming in at €1,400 per square metre. Home to the Ribeiro Wine Route and part of the autonomous community of Galicia, Ourense is known for its young, light wines full of fruity and floral notes. The whites are particularly good and make the perfect accompaniment to shellfish, cured meats and light cheeses – so perfect for an al fresco lunch in the Spanish sunshine.

Wine lovers looking for a base in Ourense will be delighted by this impressive, seven bedroom 19^th century manor house, which comes with swimming pool, three car garage and plenty of land, including mature walnut, hazelnut, palm, oak, chestnut, magnolia, fig and cherry trees complete with automated irrigation system. The property is on the market for €450,000.

At the other end of the price scale in Ourense comes this two storey house with 70m² vineyard for just €16,000. Needless to say the property could do with some work, but it does have running water and comes with five pieces of land that cover more than an acre, so would make an ideal project for someone looking to take their love of Spanish wine to the next level by owning their own vineyard.

Over in Burgos, one of just four provinces where Denominación de Origen Ribera del Duero wines are produced, property prices reach an average of €1,450 per square metre, according to Kyero.com. The area has more than 170 wineries and 18,000 hectares of vineyards, according to Berry Bros & Rudd. The reds rival those produced in La Rioja, with no whites permitted.

The Ribera del Duero region is famed for being home to Spain’s most expensive wine: Dominio de Pingus, which has an average Wine-Searcher listing price of $898. Not only is the wine produced from a tiny plot of extremely low-yielding tempranillo grapes, but the loss of 75 cases of the already-rare vintage in a shipwreck in 1997 saw the price nearly double.

For less than the price of just 37 bottles of Pingus, oenophiles can pick up an 18^th century country home surrounded by forest and rolling countryside in Burgos province. The €29,000 property includes three bedrooms and one bathroom. It is in need of total refurbishment. Two further houses on the same plot are for sale for €50,000, with the owners happy to negotiate for a quick sale, meaning a buyer with the right vision could bag an incredible bargain in this stunning region.

Vastly more expensive than the other regions is Spain’s priciest winemaking area: Barcelona province. Prices in the province as a whole are distorted by the high costs of real estate in the Catalonian capital city, meaning that the average price is €2,250 per square metre.

Catalonia’s wines are as fiercely independent as its people, according to Wine Enthusiast, with full-bodied reds coming from vines that soak up not just the sunshine but also the minerals of the granite, fractured slate and chalk soils in which they are grown.

Wine lovers looking to live close to the region’s vineyards will be delighted by this four bedroom country house with summer porch and pool at Vilafranca del Penedes, which is on the market for €450,000. The spectacular views extend for miles around – perfect for enjoying some of Spain’s best wines in the peace and fresh air of the countryside.

Buyers wanting their own vineyard, rather than a view of someone else’s, have plenty of choice in Spain. Commercial opportunities include this working Chantada vineyard registered on the Board of the Qualified Denomination of Origin Ribeira Sacra, complete with two storey property, for €120,000. An operational wine cooperative near Chantada is also for sale, priced at €450,000. The property comes complete with a hectare of vines and a vast array of modern equipment with a production capacity of 200,000 kg.

Those looking for a slightly smaller scale venture will be delighted by this two bedroom farmhouse with vineyard near Asco and the River Ebro, on the market for €169,000. A tasteful renovation has modernized the property while retaining the original features and there’s even a wine store outbuilding for storing wine produced from the vineyard. What oenophile could ask for more?

For further details on the perfect homes to buy in order to enjoy the wines of Spain, visit www.kyero.com.

Take your September sun to new heights with these terrific terraces

by Eleanor Portugal Spain United Kingdom Collegiate AC, Ideal Homes Portugal, Kyero, Properties of the World, Property Frontiers, Taylor Wimpey Espana

Make the most of this late September sun with a glass of bubbly and stunning views from these terrific terraces.

Herculaneum Quay, Liverpool

Residents will never want to leave these stunning waterfront apartments. Boasting marvelous views over the River Mersey, all apartments feature floor to ceiling glass with outdoor terraces and balconies to relax and take in the exquisite skyline.

Prices start at £107,130

For more information, please visit http://propertiesoftheworld.co.uk/ or call +44 20 7624 5555

Water Lane Apartments, Bristol

Whether you’re relaxing with a book, having a drink with some friends or working on an assignment, Water Lane’s pretty garden terrace allows university students to make the most of the Bristol sunshine. Other wonderful facilities include a private gym, on-site cinema, dinner party room and a club lounge for residents.

Prices start from £160 per week

For more information, visit www.collegiate-ac.com or contact Collegiate AC on +44 1235 250 140

Santa Ponsa Villa, Mallorca

With sunshine all year round and idyllic sea views, this wonderful terrace plays the perfect host for any occasion. Situated in the stunning Santa Ponsa area of Mallorca, the villa boasts 4 large en-suite bedrooms, a living and dining area, fully equipped kitchen, private gardens and a pool.

Prices start at €1,395,000

For further details, visit www.kyero.com

Horizon Golf, Mijas, Costa del Sol

These beautiful homes afford spacious terraces perfect for al fresco dining where residents can enjoy breathtaking views of the prestigious Campo Asia golf course. All properties benefit from communal gardens and a swimming pool where you can enjoy bright Costa del Sol days and warm Mediterranean evenings.

Prices start at €267,000+VAT

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com

The Divine Collection, Digbeth, Birmingham

Soak up the last of the summer sun on The Divine Collection’s private roof garden. The grassy garden is perfect for entertaining friends or taking in a breath of fresh air. Comprised of a selection of 30 hand-picked apartments, The Divine Collection offers sophisticated, elegant homes with a spacious design and luxurious fit out.

Prices start at £159,500

For more information, contact Property Frontiers by visiting http://www.propertyfrontiers.com/ or calling the team on +44 1865 202 700.

Luxury ocean view property, Salgados, Algarve

Prepare for stunning ocean views from this exquisite villa in the popular Salgados. The living areas of this luxurious villa lead out onto the terraces and gardens through floor to ceiling glass doors. On the second floor is a large south facing terrace offering wonderful views of the Atlantic Ocean and pretty coastline for miles.

Prices start at €2,250,000

For more information, contact Ideal Homes Portugal on 0800 133 7644 or visit http://www.idealhomesportugal.com

Tourism’s flying in Alicante as highest number of international passengers recorded

by Charly Spain Taylor Wimpey Espana

International passengers to Alicante rose by 16.1% to record high in H1 2016 (ACI Europe)
7% increase in homes purchased in Alicante in Q2 2016 (School of Property Registrars)
Panorama Mar is the go-to holiday home just 45 mins from Alicante Airport (Taylor Wimpey España)

Alicante-Elche Airport has surpassed its own records this summer. The number of passengers handled by the airport on international flights rose by 16.1% during H1 2016 to a record high.

Known as the gateway to the Costa Blanca and a hub for all those travelling to the east and south east of Spain, the airport’s increase in passenger numbers is no surprise. The area has proved a highly popular destination this summer and not only by holiday makers but also holiday home buyers.

According to the School of Property Registrars, in Q2 2016 a total of 7,901 homes were purchased in the province of Alicante. This is a 20.7% increase from the same period last year with half of the sales consisting of foreign investors buying a holiday home.

Marc Pritchard, Sales and Marketing Director for leading Spanish homebuilder Taylor Wimpey España, which has operated successfully in Spain since 1958, has observed firsthand the rising demand for property in the Alicante region as tourists look for a more permanent holiday setting.

He comments,

“The Costa Blanca has been popular with tourists for over half a century however we have noticed a surge of interest in recent months. The area has much to offer from the stunning Mediterranean coastline to the charming interior but now also boasts new leisure activities such as caving, climbing, hiking and diving, which is broadening its appeal. Indeed the sight of the large Boeing-787 Dreamliners carrying 320+ passengers now arriving at Alicante-Elche Airport just goes to show what a popular destination the Costa Blanca has become.”

With ever more tourists arriving on the sandy shores of the “White Coast”, pressure on existing accommodation options is building. In response to this, Taylor Wimpey España has launched a number of new second home developments in the area.

The newest offering is Taylor Wimpey España’s frontline development, Panorama Mar, situated on Punta Prima beach in Torrevieja, just 45 minutes from Alicante-Elche airport. This private residential complex offers an array of 2 and 3 bedroom apartments, all designed for both comfort and convenience, with 2 bathrooms and an underground parking space. Each apartment in the first phase is south facing and therefore blessed with spacious terraces and stunning views over the Mediterranean Sea.

With prices starting from just €234,000 +VAT, residents will be able to use the three communal swimming pools and Jacuzzi facility, as well as being granted direct access to the beach promenade.

British appetite for Spanish retirement properties unaffected by Brexit

by Sophie Evans Spain Kyero

Expert Guide to Retiring in Spain downloaded 2,000+ times in 6 weeks (Kyero.com)
Inbound visitor numbers to Spain to exceed 80.3 million by 2012 (Canadean)
Brits aged 55-64 outstrip other nationalities in searching for property in Spain (Kyero.com)

Newly released data from Spanish property portal Kyero.com has revealed that the British appetite for retirement properties in Spain remains strong, with Brexit seeming to have done little to dampen the plans of older Brits to spend their golden years in the sunshine.

Launched just six weeks ago, the Kyero.com Expert Guide to Retiring in Spain has already been downloaded more than 2,000 times. The figure indicates the strength of the level of interest in Spanish retirement properties, from apartments with pools in Marbella to luxury villas on islands like Tenerife.

Meanwhile, data from visitors to Kyero.com has shown that those approaching their retirement in Britain are more likely than their European neighbours to seek out the perfect property in Spain.

36% of Brits who searched Kyero.com in July and August 2016 were aged between 55 and 64 years old. That compares with 33% of French, Belgian and Swedish site users in the same age range, 32% of Dutch users, 24% of Germans and 20% of Italians.

Kyero.com Director Martin Dell comments,

“Brexit doesn’t seem to have curbed British buyers’ enthusiasm for purchasing property in Spain. We’re still seeing a high volume of searches from retirees and soon-to-be-retirees who are looking for an escape from the colder winter weather in the UK. Spain offers the ideal solution – it’s a quick and cheap flight away, there’s almost year-round sunshine and a balmy climate in many areas and the healthcare is excellent. Whether buyers are looking for a holiday home for occasional use or a more permanent abode, interest in Spain remains very strong.”

Spanish tourism figures certainly reflect the country’s continuing popularity with holidaymakers. Spain has topped the global Travel and Tourism Competitiveness Index ranking for the first time, according to the World Economic Forum’s Travel and Tourism Competitiveness Report 2015, while inbound trips increased by 4.8% for the year, to a total of 68.1 million visitors.

The Iberian country looks to be on track to remain a key tourism destination for the rest of the decade, with Canadean’s Travel and Tourism in Spain to 2020 report projecting growth at a CAGR of 3.3% over the course of 2016-2020. Such an increase would result in inbound visitor numbers reaching 80.3 million by 2020.

Rising visitor numbers bode well for the Spanish property market. International buyers accounted for 18.02% of all property transactions in Spain in Q1 2016, according to the Ministry of Development. Kyero.com’s Martin Dell comments,

“Many visitors to Spain cannot resist the country’s charms. Spain offers a wealth of activities for tourists, from beautifully designed golf courses to all the pleasures of the seaside. Rising international visitor numbers spell out a healthy future for the country’s property market, as tourists look to purchase their own slice of the sun-kissed Spanish lifestyle.”

For further details, visit http://www.kyero.com/.

Spanish Law specialist David Fuster offers advice on all things property

by Charly Spain Fuster&Associates

‘The most common mistake buyers can make is to not seek legal advice about the purchase process before signing a contract’ (Fuster&Associates)
‘A ‘healthy’ community will always keep the value of your property’ (Fuster&Associates)
‘It’s now more important than ever to make sure a building license has been granted before making any payments for off-plan properties’ (Fuster&Associates)

The Spanish property market is enjoying yet another successful month after eight consecutive quarters of price growth. This is an indisputable positive trend and one which is making property in Spain an attractive investment once again.

With an increasing number of buyers returning to Spain, Fuster & Associates are on hand to provide legal and tax services to international clients with their sights set on the Mediterranean coast. With offices in Alicante, Cadiz and Murcia, they have successfully helped over 15,000 international clients, ensuring a constant level of customer satisfaction through their collective expertise and commitment.

We caught up with Founder David Fuster as he gave an insight into the current market;

Have you noticed an increase in overseas buyers returning to Spanish property?

“As a region, the Costa Blanca was hit extremely hard when the Spanish property bubble burst in 2007 and prices fell further than in many other areas of Spain. Second home buyers seemed to disappear and the large amount of stock built during the boom created an over-supply problem. However, fast forward to 2016 and the situation has changed dramatically; the coast now looks in good shape once again with the number of new-build developments multiplying and prices having already increased significantly from their recent lows.”

Are any areas in particular proving popular with overseas buyers?

“The Mediterranean Coast has been one of the principal beneficiaries of the upturn in sales and the Costa Blanca South is now buoyant, with sales also recovering on the Costa Blanca North. Costa del Sol (Málaga) has also recovered.”

What will prospective buyers need, before they start their overseas property search?

“Before they start their overseas property search, buyers need to know what their rights are and what will be needed from them during the sales process. They need to know about all costs and taxes related to the property purchase as well as social security rights, personal tax implications, education rights (if they have children) and employment rights.”

What is the most important question to ask when viewing an overseas property?

“I would ask about the community charge; maintenance costs must be considered especially when buying within resorts. Also I would ask about the property developer and their portfolio. Even if you are buying a resale property, you will be able to access more information about the quality of the developer’s work.”

What are the warning signs to avoid when viewing property overseas?

“1. The conditions of the community – When buying a property within a community, even more important than the condition of the property itself is the condition of the communal areas. A “healthy” community will always keep the value of your property while an “unhealthy” community could decrease the value of your property significantly.

“2. Off-plan properties: Always ask for the background of the developer and view the show house. Would you buy a car from a manufacturer that has never made one?

“3. Don’t be rushed into the buying process. Be alert! For example, when the developer won’t even hold the property as reserved for one day, take that as a warning sign.”

What is the most common mistake buyers make?

“From a legal perspective, the most common mistake buyers can make is to not seek legal advice about the purchase process before signing a contract. Even though is a very fast moving market it is important to know the legal implications before signing any document.

“From a property perspective, I think often the most common mistakes are;

Buying on impulse. ‘Falling in love’ with a property and buying it without assessing the pros and cons, simply because it was a great day.
Not knowing the area. Many buyers of second homes know nobody in the area except for the seller of the property or the estate agent.
Forgetting about the community charge. Maintenance costs that must be considered even though buyers may not be there for most of the year.
Going somewhere too remote. During the pre-crash years, it became fashionable to purchase second homes far away from established urban areas. They were promoted as places close to the airport and were sold at reasonable prices in comparison to what was being sold on the Spanish Costas. Taking a plane and renting a car for a few days might seem entertaining on paper but could soon become tiresome after the third trip. Many people stop using a second home when getting there becomes a hassle.”

Once prospective buyers have found their dream property, what is the next step in the buying process?

“Once you have found the property you want to buy, I would recommend appointing a solicitor to represent you in the conveyancing process, letting him/her know the conditions you have agreed e.g. property, price, completion date. A solicitor will them liaise with all the different parties involved (agents, vendors, developers). As it is a very fast paced market, our clients normally grant power of attorney as soon as they have decided on a property. We, then, can sign all legal documents on their behalf.”

Approximately how long will the buying process take to complete?

“The process of buying a resale property takes between 4-6 weeks, and off-plan property depends on the stage of the construction; it could be between 6-12 months.”

Is there any new legislation to consider for buyers set on Spain?

“Years of depression in the Spanish property market ended in a recent landmark judgment, with the Spanish Supreme Court ruling that Banks are responsible, together with property developers, to refund any amounts provided by homebuyers in cases where these amounts were not then guaranteed. As a result of possible banking lobby pressures the law has changed, cutting buyers rights and making banks only responsible for those payments when a building license is in place. It is now more important than ever to make sure a building license has been granted before making any payments for off-plan properties.”

What advice would you give to those starting their overseas property search now?

“From a legal perspective, do your homework before starting the search – what is involved in preparing for the purchase, completing and after the purchase – so that when you find the property you like you just have to make that final decision. From a property perspective, get to know the area first by doing some research. Think about the type of property, the location, price per square metre. Research first to ensure it is the best choice for you.”

To find out more about Fuster & Associates and the services they offer, please visit http://fuster-associates.com/

Royal Mallorca

by Sophie Evans Spain Taylor Wimpey Espana

Mallorca hosts a wealth of famous faces; from European royalty to Hollywood A-listers
Marina Golf provides luxury townhouses perfect for a celebrity style getaway (Taylor Wimpey España)
Budget buyers can find their own piece of the Mallorcan Dream in the Northeast of the island (Taylor Wimpey España)

The Balearic island of Mallorca has attracted the world’s rich and famous for centuries. From Frederic Chopin, to Agatha Christie, Grace Kelly to Kate Moss, Mallorca’s postcard-esque scenery has become a popular setting of both inspiration and relaxation for those in the spotlight.

This month is no different as Mallorca has welcomed King Felipe and Queen Letizia of Spain for their annual family holiday on the island. Staying in one of their residences, in the capital Palma, the family are expected to enjoy all that Mallorca has to offer until the end of August.

And it’s not just the monarchy who have chosen Mallorca as their go to holiday destination, a growing number of Hollywood royalty have also sought to spend time there. Michael Douglas and Catherine Zeta Jones frequent the Northwest of the island and fellow power couple Brad Pitt and Angelina Jolie are said to have recently purchased a home situated on the Southwest coast.

For those ready to follow in the sandy footprints of today’s elite, leading Spanish homebuilder, Taylor Wimpey España have an array of properties perfect for a celebrity style getaway. Their Marina Golf complex is less than 30 minutes from the Mallorcan capital of Palma and is located next to the celebrated Santa Ponsa III Golf Club.

This new Mediterranean style village has spacious, 3 bedroom townhouses with private terraces, gardens and private parking spaces. In the communal area there is a swimming pool for the exclusive use of owners, surrounded by a solarium area with views over the golf course and a large communal garden. There are also changing rooms, showers and toilets.

Prices start from just €550,000+VAT and every townhouse has 3 bedrooms and 3 bathrooms, with air conditioning, under floor heating in the bathrooms, double-glazing, a security door, TV aerial and satellite dish. In order to ensure the maximum amount of light the properties are southwest facing and have several terrace areas so the sun can be enjoyed for most of the day. All the properties also have large gardens where you can enjoy sunny Mallorca days and warm Mediterranean evenings.

Santa Ponsa is in a great location, surrounded by some of the top golf clubs on the island including Golf Santa Ponsa I, II and III, which are right next to the development, Golf de Andratx, Golf de Poniente and Bendinat Golf. It is also near the coast, in an area dotted with beautiful coves and beaches and some of the island’s most exclusive marinas such as the Puerto Adriano, designed by Philippe Starck, just 1.5 km away and has a wide variety of elegant bars and restaurants and some of the most exclusive designer stores.

For those with a more modest budget, Taylor Wimpey España’s most recent development is the gorgeous Bahia Sant Pere. The development is a Mediterranean-inspired residential complex situated in the traditional north east coastal village of Colonia de Sant Pere, perfect for those wanting a more rural escape for their second home.

Less than an hour from Palma’s international airport in the Northeast of the island, and only a short distance from the local fishing port and Mallorca’s golden coastline, Bahia Sant Pere is comprised of two and three bedroom apartments. From just €193,000 +VAT all apartments have two bathrooms, an open-plan kitchen with breakfast bar and the use of a private parking space. Each resident will have access to the development’s two swimming pools and luscious communal gardens.

Known for its outstanding natural beauty, the village of Colonia de Sant Pere allows visitors to experience the more rustic side of Mallorca, being the perfect location to enjoy both the stunning landscape of the mountains of the Peninsula de LLevant Natural Park and the beautiful coast with the white sandy beach of Sa Canova.

Whether it’s a relaxing holiday or a journey of inspiration, Taylor Wimpey España will help find the perfect property to fill the requirements of each buyer.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com. If you reside outside of the UK you will need to call 00 34 971 706 972.

Menu