Dutch buyers look to sunny Spain for their dream holiday homes

Dutch buyers look to sunny Spain for their dream holiday homes

Spain
  • Dutch travellers took 2.79 holidays per person during 2013 (NBTC-NIPO)
  • Dutch property buyers show largest increase of any nationality (Taylor Wimpey España)
  • Mallorca clocks up more than double the sunshine hours of the Netherlands (Weather Online)

A perennially popular choice with Dutch tourists, Spain has been in the top five countries that the Dutch choose to spend their holidays in for years. In 2013, it was the fourth most popular destination, according a report from NBTC-NIPO Research. The report states that Dutch travellers undertook an average of 2.79 holidays per person during 2013, spending a total of €15.5 billion.

While the majority of Dutch travellers chose hotels or motels as their holiday accommodation, the NBTC-NIPO figures reveal that a significant proportion (21%) stayed in a holiday cottage or private home instead. The data correlates with the findings of market leading Spanish homebuilder Taylor Wimpey España, as the company’s Sales and Marketing Director Marc Pritchard observes,

“Our cumulative October 2014 data shows that the largest increase in purchases of our holiday homes across Spain is from Dutch buyers. Experience has shown us that buyers from the Netherlands are looking for high quality accommodation with luxury touches. Balconies, gardens and roof terraces are all popular with Dutch buyers, as are facilities such as communal pools and landscaped gardens, which all Taylor Wimpey España developments feature.”

The Taylor Wimpey España data also shows a significant increase in sales of properties located on the sun-drenched Balearic island of Mallorca, where the new Cala Anguila II development is already proving extremely popular. Prices for the two bedroom apartments begin at €242,000 and all benefit from the development’s direct beach access. Meanwhile the company’s Cala Magrana III development has key-ready properties available at a special price of €230,000, for buyers who want to complete their purchase in time for Christmas.

Flights from Holland to Spain can be purchased at bargain prices thanks to budget airlines, making visits to the Iberian nation excellent value for Dutch owners of holiday homes. The short flight time is no doubt another plus for those looking to own a second home in the sun.

Mallorca is a particularly attractive location for the health-conscious Dutch, thanks to its extensive coastline and the wide range of water sports available. Those looking for active holidays can enjoy everything from stand up paddling to kite surfing. Those wishing for slightly less intensive activity can enjoy Mallorca’s fantastic golf courses, taking in a round or two under the delightfully warm winter sun.

Of course Mallorca is also the perfect location for holidaymakers who want to do little other than sunbathe, enjoy a glass of wine on the terrace and let the sea breeze refresh their spirits. According to Weather Online, Mallorca during the winter months enjoys more than double the number of average daily sunshine hours that the Netherlands does, making it an extremely tempting destination for buyers looking to swap their scarves for suntans and enjoy some winter sun.

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.

Spain back and forth – What does 2015 have in store for the Spanish property market?

Spain back and forth – What does 2015 have in store for the Spanish property market?

Spain ,
  • Asking prices up 7% (Kyero Q3 2014 House Price Index)
  • Foreign buyers account for 1 in 5 Spanish property transactions (General Council of Notaries)
  • Domestic demand tipped to drive Spanish property market during 2015 (Kyero)

Spain’s real estate sector has come a long way in 2014. Property asking prices have risen by 7% across the country, according to leading property portal Kyero, while the prestigious homebuilder Taylor Wimpey España has observed increasing confidence in the market as investors and foreign buyers rush in to snap up bargains.

With 2015 on the horizon, the future of the Spanish property sector is under particular scrutiny as analysts look to learn lessons from the past 12 months and understand how the market will develop into the year ahead.

While some areas of Spain continue to feel the hangover from the economic crisis, other are experiencing strong demand. Taylor Wimpey España’s Marc Pritchard observes,

“Coastal areas and those offering top class sporting experiences such as the golf courses of the Costa del Sol have seen a definite upturn in terms of enquiries and sales during 2014. High quality developments with communal pools have attracted particular interest, with both property investors and second home owners keen to take advantage of Spanish bargains. There has been a fresh optimism in the market this year.”

Kyero’s Martin Dell echoes the sentiment,

“Confidence is up and the market is improving in an increasing number of locations. Foreign buyers have contributed hugely, accounting for a record proportion of overall sales, which has helped to stimulate the market and move it away from stagnation.”

Figures from the General Council of Notaries back up Kyero’s observations. During Q2 2014 foreign buyers accounted for 11.9% more private housing acquisitions than during the same period a year earlier, representing 20.4% of all purchases made during the period.

Both Kyero and Taylor Wimpey España are agreed that this should impact positively on 2015. Marc Pritchard comments,

“The increase in foreign buyers that we have seen this year has got the Spanish property sector motoring once more. With this newly optimistic market, we expect to see domestic demand pick up during 2015, with significant price recovery in well located properties, such as those in large cities or popular tourist areas.”

“Price recovery in 2015 is going to be strongest in those areas that have been attracting foreign buyers during 2014,” adds Kyero’s Martin Dell. “Our data has shown a clear correlation between asking prices and the areas in which foreign buyers are active. Investors and those picking up second homes are turning prices around. With general economic improvements in Spain, as well as increasing employment and better access to credit, 2015 should see the Spanish domestic market given room to grow again.”

The property experts’ conclusion is simple – those looking to pick up bargain second homes in Spain need to act sooner rather than later, with prices expected to show some strong upward movement during 2015.

For more information please contact:

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

Kyero.com:www.kyero.com

Best of the bunch – Top 5 countries for enjoying some winter sun

Best of the bunch – Top 5 countries for enjoying some winter sun

Grenada Italy Portugal Spain United States , , , ,
  • Costa del Sol offers cheapest European winter sun breaks (Post Office)
  • Mallorca bookings up 68% in a single year (ABTA)
  • Euro approaching best rate since 2012 (Currency Index)

It’s that time of year when the novelty of cold mornings and rainy afternoons has worn off and families turn their attention to which country would be the best place for them to soak up some winter sun. This year the number of those leaving the UK in search of winter sun between October and December is expected to rise, as many families delayed their summer holidays overseas due to Britain’s fantastic summer weather.

The Post Office has provided some handy hints this year for travellers looking for good value from their breaks. Both Portugal (specifically the Algarve) and Spain (the Costa del Sol) have been recognised as providing excellent value for money in the Post Office’s Winter Sunshine Report. The barometer report examines eight tourist staples, including sun-cream, drinks and an evening meal, to judge which destinations offer the cheapest break. The Costa del Sol came in at just £44 for the list of items and the Algarve at £48. As the weather in Spain and Portugal can take a turn for the worse over the winter months, the report also highlighted the value of Tenerife, where the winter sunshine is a little more reliable. The island came in at £58 for the eight items.

Italy is another popular choice for those seeking a winter sun break and if the over-priced cities are avoided it can offer excellent value. In fact, the UK travel organisation ABTA observed at its recent travel convention in Slovenia that Italian bookings were up this summer due to “some great-value hotel deals.” ABTA also highlighted Mallorca as a recent success story, with summer 2014 bookings up 68% on summer 2013. The island’s increased tourism figures are expected to carry through over the winter season.

When it comes to long-haul winter sun destinations, Florida offers excellent value and families can enjoy Orlando’s theme parks without the extensive queues of the summer months. The Caribbean is another popular place for winter sun seekers, especially for couples looking for a relaxed, romantic escape. The luxury appeal of the island of Grenada is proving particularly attractive this year, thanks to its high-end spas and pristine beaches.

For those looking for more than just a holiday, each of these destinations offers a wide variety of options when it comes to property investment. From second homes to pure investment properties, the choice is endless. Those looking to buy in Europe are able to enjoy the cheaper Euro at present, with Currency Index observing that the US Dollar’s recent gains have had a particularly beneficial effect on Euro rates, which are approaching their best levels since 2012.

For those looking to profit from property in the top winter sun destinations, here’s a quick round up of the best opportunities on offer.

Spain – Costa del Sol

Modern 2 and 3 bed apartments and penthouses in Avalon – Los Arqueros Golf, the best golf resort near Puerto Banus, are available from just €290,000 from Taylor Wimpey España. Large terraces, spectacular views, a communal pool and beautiful gardens make this the perfect family resort.

Balearic Islands – Mallorca

Taylor Wimpey España is offering just 24 luxury two bedroom/two bathroom apartments from €242,000 at Cala Anguila II.

Canary Islands – Tenerife

From land plots costing €95,000 for those with imagination and time on their hands, to key-ready, ultra luxe apartments for €483,000, property portal Kyero.com has something to suit every buyer.

Portugal – Algarve

Ideal Homes Portugal has properties ranging from Central Algarve studio apartments in Alvor, costing just €57,419, to a four bedroom villa in the prestigious Vale do Lobo golf community, available to anyone with a spare €11,000,000 to hand. This plot of land with delightful timber house, coming in at just €69,000, is particularly interesting.

Italy – Le Marche

Italy’s stunning Le Marche region offers a good value alternative to the cities and has everything from beaches to mountains with excellent skiing facilities. A one tenth share in the luxury fractional ownership holiday home, Casa Tre Archi from Appassionata, costs from as little as £65,000.

Florida – Orlando

Beautiful two, three and four bedroom investment homes are available from Brookes & Co at The Club at Sunset Lake, from just £96,950. The fully managed properties are close to Orlando’s major attractions and perfect for those looking for a rental property that provides long-term income.

The Caribbean – Grenada

High-end hotel suites for investment in Grenada are available from Property Frontiers and include four weeks’ personal usage, allowing investors to enjoy Grenada for themselves, as well as making money from average projected yields of 10.5%.

 

For more information on the properties detailed above, please contact:

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

Kyero.com: www.kyero.com

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

Appassionata: +39 33154 13225 or www.appassionata.com.

Brookes & Co: +44 1621 875 925 or www.brookesandco.co.uk.

Property Frontiers: +44 1865 202 700 or www.propertyfrontiers.com.

 

Silver travellers and golden oldies feel the force of Spain’s allure

Silver travellers and golden oldies feel the force of Spain’s allure

Spain
  • 1.7 million over 60s in UK live in poor quality housing (IPPR North)
  • Dream Spanish retirement properties from €262,000 (Taylor Wimpey España)
  • Spanish Government actively courting over 55s

With 95% of the UK’s housing stock not fully accessible for older people, according to IPPR North, it’s perhaps unsurprising that increasing numbers of individuals are setting their sights on overseas properties in which to spend their golden years.

Spain is an extremely popular choice of both holiday and retirement destination for UK citizens. The reliably warm weather and low cost of living are perfectly suited to pensioners looking to make their budgets stretch further while escaping the English rain, whether for a week or a lifetime. As the IPPR North report projects that households of over-65s are set to grow dramatically over the next decade, while the number of over 85s is set to increase even more (by 33%) it looks like Spain’s charms will be appreciated by a growing number of older people over the years ahead.

Spain’s modern, accessible transport infrastructure and the easy access that its numerous airports provide to the UK make it an even more attractive destination for older people. It’s a fact that is certainly appreciated by the Spanish Government’s Ministry of Industry, Energy and Tourism, which in collaboration with SEGITTUR has announced the delivery of the 2014/2015 Europe Senior Tourism Program. The initiative sets out to court travellers aged 55 and above from with the EU, tempting them to choose Spain for their holidays and benefit from the low price tag that the country is able to offer.

The increase in silver travel will include many of those considering settling on Spain as a retirement destination. Leading Spanish homebuilder Taylor Wimpey España is one company that’s ahead of the game when it comes to offering high end properties as holiday homes that can in time become full-time accommodation. Marc Pritchard, Sales and Marketing Director, explains,

“Many of our buyers are looking for holiday homes right now but with a view to one day living in them permanently, once they retire. They are seeking high quality homes on developments that provide them with luxuries they don’t have in the UK, like swimming pools and balconies on which to enjoy the sun. We bear all of this in mind when we begin a new development, so that our apartments and townhouses appeal to buyers of all ages.

“All of our developments are compliant with the latest European building regulations, meaning they include wheelchair-friendly access and lifts. Our Costa Beach development in Mallorca’s Port Vell, for example, has two properties in the second phase that have been built with wheelchair users in mind, with wider doors and adapted bathrooms.”

Prices at Costa Beach begin from as little as €262,000.

The IPPR North report goes on to state that there are already 1.7 million people in the UK over the age of 60 who are living in houses that do not meet the UK Government’s Decent Homes Standard. Add to this the dismal UK winter weather and is it any wonder that so many retirees are turning to Spain to live the dream during their golden years?

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.

From luxury travellers to second home owners to golfers, everyone’s headed to Tenerife this winter

From luxury travellers to second home owners to golfers, everyone’s headed to Tenerife this winter

Spain
  • Tenerife property enquiries jump more than 1000% in less than a decade (Kyero)
  • Tenerife makes top 10 list of global winter sun destinations (TripAdvisor)
  • Visitor numbers up 4.7% to June 2014 (HVS)

The most popular of the Canary Islands, Tenerife has a great deal going for it. Stunning beaches and gently rolling aquamarine waves tempt many tourists to do little more than lie around enjoying the subtropical climate while they are there, but for those who do get off their sunbeds, the island is packed with stunning natural parkland, plentiful cultural attractions, a wide range of sporting options (both on land and on the water) and restaurants serving rich yet healthy Mediterranean cuisine.

As with many locations where tourism plays a key part in the economy, Tenerife suffered as a result of the global recession, but now the sun-dappled island has turned a corner, accounting for 65% of total visitors arriving to the Canary Islands during 2013, according to the just-published HVS In Focus report on Tenerife.

The report reveals that 2013 finally saw visitor numbers to Tenerife increase, indicating that the effects of the financial crisis have finally been left behind. Early indicators are that 2014 will show a further increase, with visitor numbers in the year to June 2014 up 4.7% on the same period a year earlier.

Visitors from the UK lead those travelling to Tenerife, making up 31.8% of the total during 2013, based on the HVS report. The winter months of October, November, February and March tend to be the strongest periods of the year, with visitors from colder countries enjoying the winter sun. The island’s Playa de las Americas resort has this year been revealed as the sixth most popular winter break destination with Britons travelling internationally by TripAdvisor.

Interestingly, while Tenerife’s overall tourism sector suffered, its luxury hotels reported a steady increase in number of arrivals (other than a slight decline in 2009). The island’s property sector has also shown a steady increase, with Spain’s leading property portal, Kyero, which lists over 175,000 properties from 2,500 estate agents, registering a steady increase in enquiries since 2006. The increase has been so steep that 2014 has already seen more than 10 times the number of enquiries that were received in 2006.

Martin Dell, Kyero’s Director, comments,

“Tenerife has seen a sharp increase in the number of those looking to buy second homes there over the past decade. British buyers seeking a holiday retreat in the sun are becoming increasingly aware of Tenerife’s delights, particularly as a winter sun destination. The combination of the high quality accommodation, relaxed lifestyle and fantastic weather on the island are perfect for attracting second home owners.

“We have found that properties in the €50k to €100k price band are by far the most popular, attracting 39% of overall enquiries. Properties costing between €100k and €150k draw in 19% of enquiries and those costing €150k to €200k attract 16%. Apartments are the preferred type of accommodation, capturing 63% of overall enquiries.”

The Kyero.com figures reveal that not only are Tenerife properties popular with Brits, but also with Italian buyers. In fact, demand from Italians looking to own second homes on Tenerife was such that Kyero.com launched a dedicated Italian version of its site back in 2008, which has proven extremely popular.

Tenerife’s excellent value for money also plays a part in its popularity. The average property price there was €224,000 according to Kyero.com’s October 2014 Spanish House Price Index, compared with a national average price of €260,000.

Tenerife’s nine golf courses are particularly popular with British visitors and this thriving industry further adds to the island’s charms. It is making a name for itself in the golfing world; so much so, in fact, that the International Golf Travel Market has appointed Tenerife as the venue for its 2015 event, which attracts golf tourism suppliers, buyers and media from around the world. Based on the figures from Kyero.com, it seems that some of those who attend may just end up buying more than golf clubs, as Tenerife woos them into purchasing their dream overseas property.

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

Don’t put it on your Christmas list – treat yourself to a bargain Spanish apartment this Black Friday

Don’t put it on your Christmas list – treat yourself to a bargain Spanish apartment this Black Friday

Spain
  • Only 16% of shoppers prepared to pay full price (Statistics Brain)
  • Costa Blanca apartment discount drops price to just €249k (Taylor Wimpey España)
  • 25% of all personal spending takes place during Christmas season (Statistics Brain)

The end of this month will see Americans hit the stores in a shopping frenzy as Black Friday – the day when the Christmas shopping season officially begins – sees stores across the country offer impressive discounts in order to kick start the traditional holiday spend-a-thon.

According to Statistic Brain, a staggering 25% of all personal spending in the US takes place during the Christmas shopping period, with Black Friday 2013 seeing total spending of $57.4 billion. However, that doesn’t mean that shoppers are prepared to spend money without careful thought – the same research showed that just 16% of shoppers were prepared to pay full price for their purchases.

Indeed the popularity of Black Friday has meant that it is now being embraced by more and more UK shops most notably, supermarket chain Asda, who offered discounts across its stores on 29 November 2013. The result was astonishing, with the retailer reporting a month’s worth of televisions sold in just 45 minutes! Across the week, sales were up 400% on the year before.

With shoppers becoming evermore savvy in their hunt for discounts and bargains, the range of products on offer has increased hugely. Even holiday homes can now be purchased at discounted rates by those who shop around.

Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, comments,

“Often those buying homes overseas can benefit from one-time offers and discounts if they buy in the right location at the right time. Our La Vila Paradis development, for example, has an offer currently on one of the remaining three apartments, which will see the price reduced from €265,000 to €249,000 if legal completion takes place before the end of the year.”

La Vila Paradis is a contemporary beachfront development in the Costa Blanca, with direct access to Villajoyosa beach, just 20 minutes from Alicante. Two and three bedroom apartments feature high spec interiors, with well thought-out layouts that ensure beautiful views over the Paraíso Beach and sea. The gated development includes swimming pools, prettily designed communal gardens and private parking. Three bedroom townhouses are also available, starting at €359,000.

With the unusually warm autumn weather in the UK about to give way to winter, many are looking to fight off the cold by holidaying overseas. For those who love Spain and visit frequently, a second home makes excellent financial sense, particularly when it can be bought at a discounted rate. Thanks to Taylor Wimpey España’s La Vila Paradis promotion, a second home overseas might not have to wait to be added to Santa’s list this year, as smart shoppers look to bag their bargain well before the year ends.

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.

The Russians are on the move… from the cold of Moscow to the warmth of the Costa Blanca

The Russians are on the move… from the cold of Moscow to the warmth of the Costa Blanca

Spain
  • Costa Blanca leads the way for Russian property sales (Taylor Wimpey España)
  • Russian visitor numbers to the Costa del Sol up 17% (Tourism Board Malaga)
  • Air passenger traffic up 4.6% overall (AENA)

There’s no questioning the attractions of the Spanish Costas. With sea, sand and sunshine, they make the perfect location for everything from a quick weekend break to a permanent move overseas. While Brits and Germans have been heading to Spain for decades, Russian property investors and tourists have been a more recent addition.

Russian buyers in the Costa del Sol are nothing new. For several years now Russians have been scouring the area for upscale properties, so much so that the luxury market is flooded with them. In fact, recent data from the General Council of Notaries has shown that buyers from the former Soviet Union are now at the top of the ranking of investments in property costing €500,000 or more in three Spanish provinces.

Figures from the Tourism Board Malaga-Costa del Sol have shown a 17% year on year increase in Russian visitors arriving at the Malaga-Costa del Sol airport, with visitor numbers this year up to 42,861 from 36,610 the year before. Clearly the Costa del Sol continues to tempt Russian buyers, but the real story at present is the Costa Blanca.

At the same time as the Spanish Tourism Office in Moscow is reporting a sharp upturn in the number of people wishing to travel to Spain, based on visa application numbers, Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, is experiencing a boom in Russian buyers looking to be part of the Costa Blanca property scene. He explains,

“We’ve noticed a definite increase in demand from Russian buyers of late. While interest in the Costa del Sol still exists, it’s actually the Costa Blanca that is attracting the majority of our Russian purchasers. Front-line properties that are well located for international airports, such as Alicante, are top of the shopping list, so developments such as La Recoleta III, Montesol and La Vila Paradis are all extremely popular.”

According to Eye on Spain, the Costa Blanca is becoming so popular with Russian buyers that they have overtaken even the British when it comes to foreign investment in the Spanish property market. While Russian buyers represented less than 5% of the foreign purchasers in Alicante just four years ago, they now account for half of the 7,000 sales made to non-Spaniards last year.

Taylor Wimpey España’s Costa Blanca developments showcase the high spec accommodation that Russians are seeking. Just two minutes from Punta Prima beach, La Recoleta III is a tranquil development of two and three bedroom apartments, including luxurious penthouses with solariums and outstanding sea views. Prices start at €142,000. Montesol in Calpe, one of the Costa Blanca’s most beautiful locations, has townhouses for sale from €252,000, while La Vila Paradis combines both apartments and townhouses, starting at €265,000. In line with Taylor Wimpey España’s reputation for delightful design, all three developments include prettily landscaped grounds and generously sized swimming pools.

Spain has experienced a country-wide improvement in air passenger numbers so far this year, with data from Spanish airports network AENA showing a 4.6% increase in air passenger traffic during the first nine months of 2014. The increase took the total to more than 153.2 million passengers, many of them travelling from Russia for inspection trips or to make cash purchases.

As well as visitors, investment capital has also been flowing into Spain. According to a report from Money Market UK, Spain is positioned first in Europe in terms of the amount of foreign investment received during 2013, equating to some €28,755,000.

Much of the investment has been in property and a recent report from Knight Frank Russia & CIS has placed Russians fifth for total investments in Western European real estate. As the Spanish market stabilises, thanks to both an increase in foreign buyers and strengthening domestic demand, rating agency Fitch has observed in a recent statement,

“The house price and mortgage market stabilisation reflects Spain’s macroeconomic recovery and banks’ increasing willingness to lend.”

With Russian interest continuing to drive forward property sales in the Costa Blanca, developers such as Taylor Wimpey España are feeling positive about the signs of the property market’s reinvigoration within the area. Marc Pritchard concludes,

“Russian buyers are not only providing a strong boost to the Costa Blanca’s property market, they are emphasising the desirability of high end developments across the Costas. The attractions of Spain’s golden visa programme mean that many of those purchasing property here have serious cash to invest, which is helping to ensure a healthy and stable property sector once more.”

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.

Overseas Property Show selects Aberdeen to host last show of the season

Overseas Property Show selects Aberdeen to host last show of the season

Italy Portugal Spain United Kingdom United States ,
  • Overseas Property Show hits 7 UK cities in 3 months
  • Tickets available for free at www.theoverseaspropertyshow.com
  • Final show to be hosted in Aberdeen from 31 October to 3 November

It’s been a whirlwind three months for the Overseas Property Show, which has so far brought a host of overseas property options to residents of six UK areas. Some 2,400 people attended the first five shows, with Glasgow proving to be by far the most popular. It seems fitting that the final show should head north of the border once more, to be held in Aberdeen.

The end of this month will see the Gordon B Suite of the AECC packed with those interested in owning a second home overseas. From holiday apartments to retirement villas to primary residences, the free to attend Overseas Property Show has something for everyone. It will open in Aberdeen on 31 October and run until 3 November, offering some sun-kissed relief from the increasingly harsh winter weather.

The property industry’s most dynamic show, the event will present properties from Portugal, Spain, Italy and the US. The Overseas Property Show has a reputation as the leading event for buyers looking to turn that dream of owning an overseas property into reality.

International property expert Chris White, Founding Director of boutique real estate agency Ideal Homes Portugal, will be attending the shows with his expert team, ready to answer any questions that prospective buyers may have about owning property in Portugal. He comments,

“The Overseas Property Show is the show for anyone who is interested in buying overseas. As well as an incredible range of properties, it offers access to some of the sector’s key professionals all in one location – an opportunity not to be missed for those who are serious about owning overseas.

“Earlier this year, a Rightmove Overseas report revealed that 51% of those planning to buy abroad were doing so in order to have a holiday home, around 1/3 were looking to emigrate and 13% as an investment. Expert advice on all three of these options will be on hand at the Overseas Property Show, along with the perfect property to suit every attendee’s desires.”

Tickets are free and available at www.theoverseaspropertyshow.com.

Foreign buyers bag bargains as Spanish property market offers best value in Europe

Foreign buyers bag bargains as Spanish property market offers best value in Europe

Spain
  • Spain and France tied for first place as favourites with foreign buyers (HiFX)
  • 89% of ‘foreign’ buyers already live in Spain (Ministry of Development)
  • Spanish property costs 4.4 times average salary, versus 6.1 times EU average (Deloitte)

A popular winter sun destination, Spain is packed with delights to engage and entertain those looking to while away the days in a warmer clime than the UK affords. The temperate weather has appealed to holidaymakers for decades, with average temperatures remaining firmly above 10C/50F, even in the depths of winter. Even the sea remains a respectable average of 15C/59F at the coldest point in its annual temperature cycle, according to holiday-weather.com.

With property prices that have fallen significantly since the global financial crisis, many investors are seeing now as the perfect time to put their funds into Spain’s housing market. Spanish real estate and construction accounted for around 18% of Spain’s GDP back in 2007, with a market capitalisation of more than €30 billion. It is now about a tenth of that, with the result that economists and investors alike are looking at Spain as being one of the last bastions of good value property in Europe. European Portfolio Manager Dean Tenerelli of T Rowe Price summarises the situation succinctly,

“We are at an interesting juncture as real estate in Spain has reached a trough since the crisis; rent prices are historically low and there is an abundance of low-cost property on sale.”

Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, at the heart of the Iberian country’s residential property market, comments,

“Spanish property is some of the best value in Europe. Buyers from across the globe are taking an interest in what Spain can offer, both as an investment choice and for the lifestyle benefits. We’ve found that our buyers include a mixture of those looking for an escape pad for long weekends, those chasing the winter sun and then summering in their country of origin and those looking to move fulltime to Spain and settle here for the long term.

“The Balearics are proving particularly popular right now. They provide fantastic value and developments such as our Cala Magrana III resort, which offers easy access to both golfing and beaches, are being snapped up at an impressive pace. So much so that we only have a few apartments left there.”

Two bedroom apartments at Cala Magrana III currently cost from €230,000 thanks to an end of season offer from Taylor Wimpey España. Foreign buyers are enjoying the high end apartments, with their designer fixtures and fittings, large swimming pool and communal gardens, as well as the sandy beaches, coves, water sports and crystal waters of the surrounding area.

Figures from the recent HiFX Property Hotspots Report confirm the interest that foreign buyers are currently taking in Spain. The latest report saw Spain tie in first place with France as the destination of choice for buyers, garnering some 35% of the vote. Additionally, the National Statistics Institute has confirmed that home sales are rising, up 8.8% in June 2014 compared with a year earlier, while Spain´s society of notaries has reported that foreign buyers favour coastal areas. The breakdown of foreign buyers included 15% Brits, 10% French, 9% Russians and 7% Belgians, according to the data.

While the influx of foreign property investors is good news for Spain’s economy, the situation for domestic buyers is also looking up. Deloitte’s fourth annual analysis of the Spanish housing market has shown that the average price of housing is now 4.4 times the individual gross salary. This compares with an EU average ratio of 6.1%, rising to 7.9% in France and 8.5% in Britain.

Interestingly, many of the ‘domestic’ buyers benefitting from this situation are foreigners already living in Spain. According to data from the Ministry of Development, 89% of foreign buyers in the second quarter of 2014 were already living in Spain. The figures reveal that Malaga is one of the most popular parts of Spain when it comes to home sales to foreigners, which reached a total of 2,499 transactions during Q2 2014 – a level not seen since 2007 and an increase of 30% over Q2 2013.

Taylor Wimpey España’s experience certainly supports the finding. Their Horizon Beach development in the Estepona area of Malaga has only a few apartments left for sale. One of the last beachfront plots in the Costa del Sol, Horizon Beach’s 36 two and three bedroom apartments and penthouses offer a level of exclusivity that sets them apart, having been designed to impress even the most demanding of buyers. Prices start at €370,000. Taylor Wimpey España’s Marc Pritchard concludes,

“It is the perfect time to buy in Spain right now, whether for foreign property investors or domestic buyers. Property here offers some incredible bargains and it’s great to see the market beginning to pick up pace as the world wakes up to the excellent value for money that the Spanish residential property market currently affords.”

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.

Menorca vs Mallorca – how a 20 mile trip could save you 20% on property prices

Menorca vs Mallorca – how a 20 mile trip could save you 20% on property prices

Spain
  • Menorca property prices just 77% those of Mallorca (Kyero)
  • Spanish property 41.8% cheaper than in 2007 (Tinsa)
  • Property sales rose 10.7% in July (National Statistics Institute)

When it comes to the Balearics, there are some striking similarities between the islands’ offerings. The four largest of the islands (Mallorca, Menorca, Ibiza and Formentera) all boast stunning beaches, hot summer sun and fantastic water sports, as well as some fabulous examples of Iberian cuisine.

Each island also has a distinct atmosphere of its own. Ibiza is known around the world for its clubs and party lifestyle, while Mallorca is seen as a haven for sailors. There are also considerable differences when it comes to property prices, as the latest data from Spain’s leading property portal, Kyero, which lists over 175,000 properties from 2,500 estate agents, has revealed.

Martin Dell, Kyero’s Director, explains,

“Both Mallorca and Menorca have some fantastic properties available – everything from high end apartments overlooking the beach to sprawling villas tucked away in the hills. Prices can vary greatly between the islands though. Kyero’s October 2014 Price Index has shown that average prices on Menorca are just 77% of those on Mallorca, making it an excellent choice for property purchasers looking to pick up a bargain home in the sunshine. Just 20 miles of travelling means savings of more than 20%.”

The figures come in light of the news that housing across Spain costs 41.8% less than in 2007, according to the Tinsa IMIE house price index. For many second home buyers, there has never been a better time to look to the Balearics. In fact, property sales across the whole of Spain have picked up of late, with data from the National Statistics Institute showing a 10.7% increase in sales during July, when compared with July 2013.

The 28,583 transactions from July represent the fifth successive month of increases in sales, pointing to the beginnings of a sustained picking up of the market. Second hand sales are largely behind the positive growth, as Kyero’s Martin Dell observes,

“We’ve seen a significant surge in the number of second hand sales over the last several months, which is driving forward the current positive movement in the housing market. Many buyers – both domestic buyers and those from overseas – have been attracted by the price falls that Spain has experienced over the past seven or so years.

“Spain has always been a popular country with holidaymakers and a significant proportion of them see owning a property there as an investment for their retirement or for their children. There has been a definite upturn in the second hand holiday home market of late, as well as the domestic, fulltime home market.”

Kyero is well placed to observe the holiday home market. Uniquely, it is the only Spanish property portal aimed at foreign buyers and, as 45% of buyers are non-English, is available in 33 languages to ensure that the properties listed are accessible to all. So whether Menorca or Mallorca is their island of choice, buyers the world over can find their dream Spanish holiday home bargain this autumn.

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