Your Guide To Property In Spain
Published on Thursday, October 29th, 2009
The property market in Spain has many parallels and similarities to that in the UK in that if a property is competitively priced it will sell, where there are still pockets of demand there is buoyancy in the market, agents have talked the market up to an unsustainable level, prices have fallen below what the media and government are promoting and people still hanker after owning a home in Spain, just as there is a desire for homeownership in the UK.
The only trouble is, not everyone can afford to take advantage of some of the bargains that are genuinely coming to the market in Spain because they don’t have the cash in hand to pay full asking price in cash for a Spanish property…
We’re aware that properties in the UK are not selling in part because people cannot secure mortgage financing – but is the situation the same in Spain? Can you still get mortgages to buy Spanish property or not? In this report we’re going to look at what property financing products are available to British buyers interested in buying a home in Spain.
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Published on Monday, August 24th, 2009
We’re very well aware that Spain remains one of the most attractive overseas destinations for Britons of all ages thinking about going to live abroad. The facts of the matter are, Spain is accessible from the UK easily and cheaply, Spain is warm, sunny and enticing, the cost of living is comparable with the UK whilst the quality of life is widely regarded as superior in Spain - and it’s a very easy nation to move to, set up home in, retire to or even get a job in.
Therefore, it is of no surprise that we have received a few requests for information about the current state of the Spanish property market from Britons interested in moving to live abroad in a sunnier destination than the UK – the enquiries have been along the lines of: ‘is it safe to buy property in Spain yet?’
The problem that many Britons are facing is that the high value of the euro in relation to the pound has eroded the benefits that they could otherwise have gained from the falling Spanish property market you see. What’s more, others are worried about how safe an investment made into Spanish bricks and mortar is, bearing in mind how spectacularly the market in Spain has crashed recently. So, naturally enough, it is important for anyone thinking about making a move to Spain to understand the state of the market right now. Which is where we come in! Here’s the latest overview of Spain’s property prospects in our humble opinion.
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Published on Friday, May 15th, 2009
As if the scandals, demolitions, arrests and repossessions weren’t enough, more bad news for the Spanish property market was published this week in the New York Times.
It appears that the Spanish government have basically shot themselves in the foot if they were hoping that they could kick start some sort of positive promotion of the nation’s real estate landscape in the press!
They have published some findings and statistics relating to who actually buys property in the nation, and as a result, there is nothing positive that anyone can actually say!
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Published on Tuesday, April 07th, 2009
Statistics just released by the Spanish airport operators AENA reveal that tourist arrivals in parts of Spain previously hugely popular with international visitors, such as Lanzarote, continued to decline sharply in February. This is having a clear effect on the property market in Spain too, which has already seen significant declines in terms of levels of interest and asking prices as well.
According to AENA, the total number of foreign visitors arriving in Lanzarote in February this year had dropped by just over 19% compared to the number of arrivals in February 2008. They also recorded double digit decreases across all key tourist markets in Spain – this is very bad news for those with holiday homes in Spain that they want to profit from, and also very bad news for anyone attempting to sell their property in Spain.
Looking specifically at Lanzarote as a benchmark for Spain’s popular tourism centres, according to the latest figures from AENA total tourist numbers fell from 147,698 in February 2008 to 119,269 in February 2009. This is a drop of 19.25%. The cumulative figures for the year to date indicate a 16% fall overall in the number of people arriving on flights to Lanzarote compared to last year as the current economic crisis starts to bite deeply into Lanzarote´s all important tourist industry. As a result of this, the Spanish property market is being affected by falling tourist numbers too.
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Published on Tuesday, February 17th, 2009
It’s really rather hard to ignore the fact that the Spanish property industry is in crisis and that the real estate market in many parts of Spain is suffering significantly. This has had a massive impact on so many people’s lives, with those who need to sell a home to release equity or escape Spain altogether effectively prevented from doing so by market conditions.
What’s happening in Spain at the moment is not a one off event, recessions and tough financial times do happen on a relatively regular basis, and so the challenges facing home owners in Spain today have been experienced before and will probably be experienced again…which is why property insider Nick Snelling has penned his timely book ‘How to Sell Your Spanish Property in a Crisis.’
The book is for anyone out there who really needs to get their home in Spain sold, in spite of market conditions. And because it has been written by an industry insider and contains advice from other hands-on property market experts, the book and its contents are truly valuable for all those homeowners in Spain who need to off-load their property, no matter what state the market’s in. We think this book is not only perfectly timed, but that it holds long-term value, because markets have peaks and troughs on a regular basis.
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Spain is still one of the top choices with Britons who would love to escape to the sun. It’s so close to the UK, so easily accessible with cheap flight airlines servicing the main tourism airports well, it has an enviable climate, there are already plenty of Brits living in Spain…and all in all, Spain ticks so many boxes for would-be retirees and expatriates that its appeal is not diminishing.
British visitor numbers arriving in Lanzarote fell back dramatically in the last month of 2008, according to figures just released by the Spanish airports operator AENA. This suggests that the double whammy of the credit crunch and the recent fall in the value of the pound against the euro has started to bite deep into Lanzarote´s all important tourism industry.
The Spanish property market reached a peak in pricing terms exactly a year ago, according to Spanish Property Insight, and since then it has seen a radical shift in its fortunes. The property bubble has burst, fraudulent activity has been identified, builders have gone bankrupt and prices have crashed.
Whilst other sectors of the 