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5 property destinations worth seeing in Spain

admin — Thu, 14 Mar 2013 15:57:00 GMT

It's always tough when house hunting online, particularly when it comes to Spanish property. With so many listings trying to grab your attention from across Spain, picking between the Costas alone is difficult, let alone spending the time considering other destinations.

But in between scrolls and clicks, it pays to pause and let your eyes rest on a hotspot or two that are off the beaten track. Here are 5 property destinations worth seeing in Spain:

Cadiz

Located in the community of Andalusia, Cadiz is one of the oldest towns in Spain - and it has the landmarks to prove it. From the old town, the ancient walls and historical castles, the past collides with newer property developments to create an attractive holiday home destination, topped off by the beautiful La Caleta beach.

Find out more information about Cadiz real estate

Adeje

Located in the south of Tenerife, Adeje is one of the island's most popular areas. Part of the Santa Cruz de Tenerife province, Adeje is next to the famous Playa de las Americas and boasts a stunning coastline that brings in tourists every summer.

Find out more information about Adeje real estate

Galicia

Northwest Spain is not as well known as the Spanish Costas, but Galicia's hilly landscape has a charm of its own. The rainy climate and rocky cliff coasts have led to it becoming an area most suited to fishing and farmland investment, but the pretty parks of Rías Baixas and the cultural importance of Santiago de Compostela have boosted demand from tourists and overseas visitors in recent years.

Find out more information about Galician real estate

Benalmadena

Located in the province of Malaga, Benalmadena is right at the heart of the Costa del Sol. Its warm Mediterranean climate and stunning shores are typical of the area, but its the beautiful mountains which overlook the beaches and the largest Buddhist stup in the Western world that make Benalmadena such a big draw for both holidaymakers and house hunters.

Find out more information about Benalmadena real estate

Murcia

Murcia is the seventh largest city in Spain, but it's getting bigger every day. Home to the new Paramount Theme Park, demand from both investors and visitors is exploding, as the area's international profile rockets upwards. Combined with strong travel connections and the typically beautiful coastline, Murcia is fast becoming the top property hotspot in Spain.

Find out more information about Murcia real estate

Watch - Spain and Germany demonstrate different economic models

Ivan Radford — Thu, 14 Mar 2013 11:45:00 GMT

EU leaders are arriving in Brussels for the European Council meeting.

Top of the agenda will be the state of Europe's stagnating economy, in particular unemployment.

The continent's young adults are facing an uncertain future. Millions of them can't find work.

More than half of all young people in Spain are jobless.

But that figure is just over 8 percent in Germany.

Al Jazeera's Rory Challands reports from the Spanish capital Madrid and Al Jazeera's Nick Spicer reports from Berlin, Germany:

Currency Watch: Sterling weaker against most currencies compared to last year

Ivan Radford — Thu, 14 Mar 2013 11:32:00 GMT

Sterling is weaker against most currencies compared to 12 months ago.

A pound will today buy €1.15, $1.56(USD) and $11.74(HKD) compared to €1.20, $1.59(USD) and $12.30(HKD) a year ago, according to Currencies.co.uk. This can make it hundreds, or even thousands, of pounds more expensive for holiday makers, businesses or investors looking to buy property overseas.

Indeed, with the exception of the Icelandic Krona and the Yen, which has been deliberately devalued by the Japanese government, the pound is now weaker against all of these currencies than this time last year or in the summer of 2012.

Until recently, British buyers benefitted from the Eurozone crisis, which made property and vacations in Spain, France, Greece and Italy relatively cheaper. But buying £50,000 of Euros today will return €6350 less than it would have around the time of the Olympics.

People that want to take a late season skiing trip to countries such as Switzerland or Sweden won't fare much better, while a similar situation faces those visiting or investing in the USA, with the affordability now depending more heavily on low house prices.

Indeed, the American property market is showing signs of recovery but potential holiday homes in a number of areas are still relatively cheap compared to pre-Credit Crunch prices. However, a £50,000 initial investment will today only buy $78,250 compared to $81,100 last summer.

Stephen Hughes, director of Currencies.co.uk commented: "Economic uncertainty, the downgrading of our credit rating and the imminent threat of an unprecedented triple dip recession have all contributed to a steep decline in the value of Sterling against most other major currencies in recent months. This trend may continue into the second half of 2013 with very few signs of a sustained period of recovery coming out of the UK."

Buying property overseas?

For more information on fixed currency rates and other available services, visit out dedicated currency exchange channel: http://currency.themovechannel.com

Spain to be top holiday choice in 2013

Ivan Radford — Wed, 13 Mar 2013 13:03:00 GMT

With Easter fast approaching and the summer holidays hot on its heels, families across Britain will be packing up their suitcases ready for some much-needed spring sunshine. Travel agent Direct Holidays predicts that Spain will be the top choice of holiday destinations for Brits during 2013, just as it was during 2012.

Data for the month of January released recently by the Spanish Ministry for Industry seems to support this prediction, with tourists spending 6.5% more when compared with January 2012. In fact, the Spanish Institute for Tourism Studies (IET) has just declared that 2012 was Spain's third most successful year in tourism to date, with the majority of tourists coming from the UK.

With abundant sunshine, beautiful beaches and plentiful tapas, it's easy to see why Spain is such a popular destination. But it's not just Spain's scenic and gastronomic features that have kept it at the holiday venue top spot. According to the latest Post Office Worldwide Holiday Costs Barometer, which examines a range of costs from sun-cream to meals out, Spain is the cheapest holiday destination in Europe, something no family can afford to ignore during these trying economic times. TheMoveChannel.com backs this view, calling Spain's largest Balearic Island of Mallorca 'the perfect holiday destination for those looking for a great value break.'

For some families though, a holiday to Spain just isn't enough and the merits of making their stay a bit more permanent prove too tempting to resist. Taylor Wimpey España, the award-winning Spanish arm of leading UK house builder Taylor Wimpey, saw sales of its Spanish properties to British owners soar during 2012, with figures up 24% on the previous year.

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

"Spain has held a place in British holidaymakers' hearts for decades, but now we are finding that more and more Brits are wanting more than just a holiday. They are looking for permanent or second homes in Spain, taking advantage of the country's current bargain property prices. Mallorca and the Costa Blanca are proving particularly popular areas, with their obvious delights of wide sandy beaches and charming laidback towns."

Want to stay on holiday a little bit longer?

Browse our listings of holiday homes in Spain:

http://spain.themovechannel.com/property/all

IMF praises “major progress” in Spain

Ivan Radford — Tue, 12 Mar 2013 11:19:00 GMT

IMF praised "major progress" from Spain's economy in a report last month, offering encouraging news for the country's struggling property market.

A staff team from the International Monetary Fund (IMF) visited Madrid January 25-February 1 for the second independent monitoring mission of the financial sector. The team met with official and private sector representatives and presented its preliminary findings to the Spanish authorities and their European partners at the end of the visit.

The main finding of the mission was that "major progress has been made" in implementing financial sector reforms.

"The program remains on track," said the IMF, "the clean-up of undercapitalized banks has reached an advanced stage, and key reforms of Spain's financial sector framework have been either adopted or designed. Indeed, the bulk of all of the measures for the entire program have now been completed."

The IMF noted that "action is being taken to address banks' capital shortfalls".

This clean-up is a "major achievement that should strengthen confidence in the system and improve its ability to support the real economy". The bad bank also received positive comments, with the IMF saying that "important progress" has been made with SAREB.

The IMF concluded that "continued vigilant oversight" would be needed in the future to maintain the positive momentum, as Spain undergoes a difficult process of fiscal and external adjustment.

Feeling confident in Spain's economy?

Browse our listings of real estate in Spain:

http://spain.themovechannel.com/property/all

Spanish hotel market proves resilient in 2012

Ivan Radford — Fri, 08 Mar 2013 10:54:00 GMT

The Spanish hotel market has proven to be resilient when compared to other economic sectors, according to Jones Lang LaSalle.

Interest for well-located properties in Spain is still high, with international investors keeping their eyes on the country's main cities and waiting for distressed opportunities that offer high-performing assets at affordable prices.

However, despite the country falling into a double dip recession. the two city markets of Barcelona and Madrid are performing differently.

In Madrid economic difficulties have negatively impacted hotel performance in 2012 as weakening corporate demand has led to drop in occupancy across the market causing a RevPAR decrease of 3.7%. In Barcelona, despite the Eurozone crisis that started mid-2011, the city managed to obtain good operating results for the whole 2011 and trading performance results for 2012 resulted in RevPAR improvement of 7.6%, when compared to 2011. The resilience of Barcelona's hotel industry is a result of the growing popularity of the city among international tourists who accounted for 84% of total bed nights in 2012, cementing Barcelona's strong position as a leading tourist destination.

With two years of consecutive RevPAR increase, Barcelona remains at the forefront of the Spanish hotel industry and together with Madrid, the main target for any international investor. Madrid continues to be a top priority for international operators and investors within Spain where there remains significant interest from international brands to enter a market which is still dominated by national players.

Luis Arsuaga, National Director for Spain & Portugal for the Hotels & Hospitality Group at Jones Lang LaSalle said: "In Spain transaction activity will likely remain weak as investors face higher risks as the recession in Spain continues in 2013, with investment volumes likely to be similar to 2012 at circa €400 million. We expect many international investors to follow a "wait and see" approach and focus on key tourist destinations with strong trading fundamentals such as Barcelona and Madrid. Activity in 2013 can be expected from Spanish banks which are under growing scrutiny from the EU to start deleveraging, which could therefore result in an acceleration of their plans to sell hotel loans and assets. Confidence persists that many of these investment opportunities will offer attractive returns and upside potential, therefore capturing the interest of more opportunistic investors."

Looking for a strong hotel investment?

Browse our listings of Spanish commercial property:

http://spain.themovechannel.com/property/commercial/

Madrid house prices down more than 54pc

Ivan Radford — Thu, 07 Mar 2013 12:56:00 GMT

Madrid house prices are worth less than half their value at the market's peak, according to agents.

The report from Tecnocasa reveals the average price of resale property in the Spanish capital city is 54 per cent lower than in 2006, when values hit a high of €3,900 per square metre.

The figures follow a bad year for Madrid's real estate in 2012, reports Spanish Property Insight, when resale prices dropped by 17.6 per cent compared to 2011, hitting €1,818 per square metre.

The plummet of almost 20 per cent last year shows that "house prices [in the city] have yet touched bottom", says Tecnocasa. Price changes varied across the city districts, with the worst hit houses being the older buildings without a lift.

Looking for a low-priced capital investment?

Browse our listings of property in Madrid:

http:// spain.themovechannel.com/property/madrid_region/madrid/

More EU nationals moving to The Balearics

Ivan Radford — Wed, 06 Mar 2013 12:20:00 GMT

The number of EU nationals moving to The Balearic is on the up, according to new figures.

2.3 million "foreign" EU nationals are now officially registered in Spain, around 5% of the total population. Yet the figure for the Balearics alone is 133,740, a mighty 12.5% of the Islands' inhabitants.

Balearics Sotheby's International Realty has been speaking with Europeos por España (Europeans for Spain or EporE). Kate Mentink, Founder and President of EporE, explained: "Taken from the latest 2012 census the figure of 133,740 EU nationals, almost 100,000 of those living in Mallorca, is an increase on the 2011 total of 130,385 and an even bigger increase on the 2010 figure of 109,026 - due in part to Bulgaria and Romania's accession to the EU a few years earlier in 2007. The biggest group, again, is those of German nationality with 36,758 officially registered followed by the British at 23,804 and the Italians in third with 18,385."

Whilst the number of EU residents has steadily risen, the total of non-Europeans living in the Balearics has taken a tumble as financial pressures have made repatriation a sensible option. Another interesting point is that, whilst 15 years ago most EU residents were retirees over the age of 60, that figure has now dropped to an average age of below 40. Of the British total, only 5,175 are of retirement age with over 15,000 being of working age.

Daniel Chavarria Waschke, Managing Director of Sotheby's International Realty with offices in both Ibiza and neighbouring Mallorca, understands the appeal: "Traditionally our clients were wealthy discerning Europeans who were choosing to relocate for a peaceful retirement in the sunshine. Today, whilst that market of course exists, they are joined by younger couples or families looking for a change in lifestyle encouraged by the Balearics' low crime rates, excellent schooling and good sense of community - all in year-round warm weather. Being able to enjoy an outdoor existence on the beach, golf course or out on the water is something most Northern Europeans crave and the Balearics offer all this and more."

Organisations such as EPorE, constituted in 2008, work hard to secure equal rights for all EU nationals living in Spain, particularly in the Balearics. They understand that the arrival of European residents a whole generation younger than 15 years ago has an inevitable effect on education, health and other services provided by the authorities. EporE acts as a lobby group at local, regional and national level, as well as in Brussels when necessary, and is currently working on projects as diverse as parity for all citizens with regard to inheritance laws and the right to vote in elections.

Daniel finishes, "We admire the work of EporE and its ethos of promoting citizenship participation in the foreign national's adopted town or region of residence. After all, many of our house buyers will end up spending many years living and working on the Islands, bringing investment with them and perhaps setting up small businesses. Their voices should be heard as much as those of their native neighbours."

Planning to move to Spain?

Browse our listings of property in The Balearic Islands

http://spain.themovechannel.com/property/balearic_islands

Scandinavia makes a killing in Spanish property market

Ivan Radford — Tue, 05 Mar 2013 15:12:00 GMT

Photo credit: Pepe Rodmon

Scandinavian buyers are making a killing in Spain's property market, according to agents, with sales surging by over 300 per cent last year.

While the outlook for the Eurozone remains uncertain thanks to Italy's political stalemate and high unemployment, Scandinavia has withstood the financial downturn, with Norway, Denmark, Sweden, Finland and Iceland all suffering less than Europe's ailing economies.

As a result, investors from North Europe are well positioned to take advantage of low property prices in popular lifestyle destinations, using favourable exchange rates to snap up bargains in struggling Spain.

Indeed, house builder Taylor Wimpey España has seen record sales figures from Scandinavian buyers during 2012. The company's annual sales report reveals a surprising 311% increase in Scandinavian purchasers compared with the previous year.

Mark Pritchard, Sales and Marketing Director of Taylor Wimpey España comments: "The interest from Scandinavian markets continues to boom as buyers take advantage of favourable exchange rates and reduced Spanish house prices to purchase their dream second home abroad."

In fact, Pritchard continues, Scandinavians, particularly those from Sweden and Norway, now make up over a fifth of their buyers in Spain - "a huge increase on previous years", he adds.

The Costa del Sol area has proven particularly popular, with the sunny coastlines and familiar tourist hotspots favoured by 46 per cent of Taylor Wimpey España's Nordic investors. But buyers' interests are widening to include the quieter Costa Blanca too, with Scandinavian buyers in the area up by 35 per cent in 2012.

The dramatic trend seems set to continue into 2013 as well, Pritchard predicts, with January sales figures already up 300 per cent on those for the same month in 2012 and the cumulative February sales up 500 per cent.

Looking to make a killing in Spain?

Beat the Scandinavians to it:

http://spain.themovechannel.com/property/all

Eurozone crisis slows rise in global hotel prices

Ivan Radford — Tue, 05 Mar 2013 11:15:00 GMT

LONDON, March 5, 2013 /PRNewswire/ --

Increased buoyancy leads to 3% annual rise but growth held back by slump in European prices, according to latest Hotels.com Hotel Price Index

The average price of a hotel room around the world rose by 3% during 2012, compared with the previous year, according to the latest Hotels.com Hotel Price Index (HPI). The rate of increase has moderated when judged against the 4% rise in 2011 as the Eurozone's problems pulled down the global average and slowed growth in the second half of the year.

Three regions drew away from the rest. The Caribbean saw a 6% rise, North America had one of its best results in recent years growing at 5% and the Pacific gained 4%, all outpacing the global figure. Asia added 2% and Latin America 1% while the Europe and Middle East region registered a slight fall.

Launched in 2004, the HPI looks at prices that people actually paid for their hotel rooms around the world. The 2012 Index stands at 107, ten points behind its 2007 peak of 117 and only just ahead of its 2005 level of 106.

David Roche, President Global Lodging Group for Expedia, Inc., said: "Europe's hoteliers aren't immune from the region's economic problems, and they weren't able to keep pace with a recovering global market in 2012. Although prices have risen globally, a hotel stay still offers consumers great value, with rates consistently below their peak levels of five years ago."

The Eurozone crisis not only impacted prices in its own territory but had a knock-on effect across the region as financial insecurity dampened travel plans.

In the Caribbean, the trend towards more all-inclusive holidays has pushed up the average price paid. The US saw an influx of international visitors in 2012 which meant hotels had less need for discounting. In the Pacific, the mining boom in Australia and strength of the Australian dollar continued to drive strong city hotel rates but made it difficult for some leisure destinations dependent on inbound demand. Latin America has witnessed a sustained period of growth in prices paid by customers over the past few years, driven primarily by the booming economies in the two key markets of Brazil and Mexico.

In Asia, a roster of events moved prices up and down across the region, including downward pressure on rates in India, due to a precipitous fall of the Rupee, travel demand shifts due to the politically sensitive situation around the islands in the East China Sea, and price bounce-backs from the 2011 earthquake, tsunami and nuclear disaster in Japan and flooding in Thailand. The continued increase in the number of Chinese international travellers helped fill hotel rooms and the expansion of low cost carriers also boosted travel opportunities.

"International tourism is expected to climb again in 2013," said David Roche. "Much of the focus of the hospitality industry is now moving east, where the rate of increase is the highest and new infrastructure is helping to drive travel patterns. The Asia/Pacific region added twice as many new hotel rooms as Europe in 2012 and will account for 40% of the world's new builds in 2013. Rates here are rising but the region still offers great value for travellers with some of the lowest prices in the world."

For a full copy of the UK version of the HPI, visit http://gb.hotels.com/hotel-price-index/

Spain’s bad bank takes on more debt as property giant falls into bankruptcy

Ivan Radford — Mon, 04 Mar 2013 13:43:00 GMT

Spain's economic slump pushed a property giant into bankruptcy last month. Reyal Urbis SA, which was formed in an industry merger only a year before the property crash, filed for bankruptcy in February, reports The Guardian, in the second largest corporate default in Spanish history.

The company, owned by construction magnate Rafael Santamaria, owed a total of €3.6 billion to a range of banks, including the "bad bank", Sareb. But after failing to negotiate its debts with creditors, the company followed in the footsteps of another real estate giant Martinsa-Fadesa, which suffered the biggest default in Spain's corporate history in July 2008

Now, Sareb, Reyal Urbis' biggest creditor, is poised to receive another €14 billion in soured property assets from a variety of different mid-sized Spanish banks. The government-backed "bad bank" was launched at the end of last year in an attempt to rescue struggling lenders by buying up non-performing property loans.

Sareb will use the latest investment to continue trying to clean up the country's banking system in the wake of the housing crash, buying up €2.2 billion from Caja 3 and €3.1 billion from savings group CEISS.

The banks can then use their share of the 14 billion bonds as "collateral to get funding from the European Central Bank", explains Reuters.

As a result, Sareb's assets will now total roughly between €50 billion and €55 billion.

Not afraid of the big bad bank?

Browse our listings of Spanish property for sale:

http://spain.themovechannel.com/property/all

Only “serious investors” are making money from Spanish property, says agent

Ivan Radford — Mon, 04 Mar 2013 12:02:00 GMT

Only "serious investors" are making money from Spanish property, according to one agent.

Spanish Hot Properties argues that those striking while the iron's hot are the ones benefitting from the market downturn, with the occasional deal arising that could return 20% inside three months.

Nick Stuart, Director of Marbella-based Spanish Hot Properties, explains, "Every time something positive is reported about the Spanish property market, observers are quick to pooh-pooh assuming it's fantasy. This is why we only comment factually on what we see happening around us. Bahia de Banus is one of the most desirable products on the market right now - gym, sauna, indoor and outdoor pools, close to the marina - and the cheapest property is selling for comfortably over 600,000 euros. A three bedroom repossession recently came to the market and was bought within days for 370,000 euros."

"Even taking into consideration high buying and selling costs", continues Nick, "that Bahia de Banus investor has two very lucrative exit strategies. One, sell on within three months at a reasonable asking price of say 525,000 euros, still a fantastic deal for the buyer but with over 20% profit built in for the investor. Or two, hold on to the prime location asset for two to three years, generating up to 50,000 euros each year in holiday lets in the meantime, and earn as much as 100% profit upon sale. These deals don't happen every day, there is still a lot of dross on the market, but there is gold to be found."

Spanish Hot Properties asserts that is only the serious decisive property investors who are making the money, whilst the part-time investor continues to prevaricate and dream. A serious investor has everything in place so that when the right opportunity becomes available they can act before anyone else. This involves having selected a lawyer and access to funds to immediately pay a deposit and take the property off the market - even if they haven't viewed it in person. It also means they understand the market, have done their homework and know at what level below market value they are prepared to participate.

Nick ends, "The part-time investor tends to register with hundreds of estate agents because they're frightened of missing out on a deal. Sadly this has the opposite effect as an agent is less likely to focus on them than they are a serious investor who has put their trust and faith exclusively in them due to their specific expertise in Spanish property investment. The part-time investor is therefore likely to get the crumbs from the dinner table."

Serious about Spanish property?

Browse our listings of real estate for sale in Spain:

http://spain.themovechannel.com/property/all

Spain’s bad bank reduces toxic loans

Ivan Radford — Tue, 26 Feb 2013 12:54:00 GMT

The number of toxic real estate loans on Spanish banks' balance sheets has been reduced to 10.4 per cent, according to new figures.

The drop from €191 billion in November 2012 to €167 billion in December is the result of "group one" banks transferring €36 billion to SAREB - the "bad bank" - from foreclosed properties and non-performing loans to developers.

However, IPE reports, the bad bank has not yet indicated what the pricing for these assets will be.

The assets include development projects and land as well as housing. The most recent figures show that house prices in Spain fell by 9.9 per cent in 2012, a slower rate of decline than 10.5 per cent in the previous year, but far behind other European countries.

Looking for low-priced European property?

Browse our listings of real estate for sale in Spain:

http://spain.themovechannel.com/property/all

Spanish housing market shrinks as sales fall

Ivan Radford — Mon, 25 Feb 2013 12:48:00 GMT

The Spanish housing market shrank last year, according to new figures.

There were 280,816 Spanish property sales last year, the National Institute of Statistics revealed, with an average of approximately 20,000 sales per month - significantly lower than 2007, when sales were closer to 80,000 per month.

The figures are even worse than El Mundo's original predictions, which suggested sales totalled 320,000 last year. But the slump is still not as severe as previous years, such as 2008, when sales dropped by 28.6 per cent.

Indeed, the market shrank 10 per cent in 2012 from 2011 and 61 per cent compared to 2007.

Some experts argue that the latest data is an encouraging sign that the country's struggling property market is close to finally bottoming out.

"Yearly declines have been getting smaller, further evidence that the market is near its floor," notes Spanish Property Insight.

The figures follow reports that overseas sales of Spansih property actually increased last year, as investors take advantage of the low house prices. While domestic demand is low, international transactions climbed by 15.3per cent in the second quarter of 2012 and 18 per cent i nthe third quarter.

For current property owners, though, the news remains negative: "I estimate that the Spanish property market is down by 75pc or more since the peak," continues Spanish Property Insight. "You don't have to be a financial genius to imagine how much damage that must have done to household wealth."

Looking for low-priced holiday homes?

Buy while the market is at bottom:

http://spain.themovechannel.com/property/all

Spain ranked cheapest holiday destination in Europe

Ivan Radford — Fri, 22 Feb 2013 10:05:00 GMT

Spain has been named as the cheapest holiday destination in Europe in the seventh annual Post Office report on holiday costs. Spain and its islands beat off competition from traditionally cheap locations like Turkey, proving to be the best value for a number of classic holiday purchases, such as a restaurant meal, a bottle of sun cream and a cup of coffee. In fact, worldwide, only Sri Lanka could compete when it came to the affordability of holiday essentials.

With prices so low, Majorca is the perfect holiday destination for those looking for a great value break. And with flights cheaper than those to destinations further afield, now is the ideal time to sample what the largest of Spain's Balearic Islands has to offer.

If you're staying in Palma, the island's capital, a trip on the vintage Sóller Train is an exciting way to get to the lesser-known parts of Majorca. This railway connects Palma to the picturesque town of Sóller, winding through the Serra de Tramuntana mountain range and offering numerous photo opportunities along the way. The line commemorated 100 years of service last year, but don't worry about missing out on the celebrations, as the Sóller Tram, which links the town to its beautiful port - Port de Sóller - marks its own centenary in October.

Not far from Sóller on the west side of the island is the small coastal village of Deià , a long-time favourite with celebrities looking to get away from the hustle and bustle. The village's low-key seaside charm has made it a hit with a number of A-Listers, who enjoy walking through the nearby orange and olive groves and taking in the views. When you're not star-spotting, the scenic Deià Cove is the perfect spot to unwind, with steep cliffs sheltering its shingle beach.

The diminutive Banyalbufar is another of the west coast's offbeat delights. With a population of around 600 people, it's a far cry from Majorca's busier tourist resorts. The sleepy town itself is great for those looking for a chance to relax, and the Torre de ses Animes watchtower offers a stunning view of the Balearic Sea.

Overseas Spanish property sales increase

admin — Thu, 21 Feb 2013 15:28:00 GMT

Foreign buyers made the most of low property prices in Spain last year, according to new figures, causing international sales to surge.

The number of Spanish properties bought by overseas investors jumped 18 per cent in the third quarter of 2012 compared to the same period in 2011, revealed Property Wire, the fifth quarterly rise in a row.

The news follows a recent upgrade in Spain's ranking by ratings agency S&P. Spurred on by the positive economic figures, Morgan Stanley analysts labeled Spain one of its "potential surprises" for investors in 2013 ahead of both France and Germany. As a result, investors are striking while the market is low.

Indeed, international Spanish real estate transactions grew by 15.3 per cent in the second quarter of 2012 and by an even bigger 16.2 per cent in the first three months of the year. Malaga led the way, alongside Alicante, with demand focused on property in the Costa del Sol.

Interest was particularly strong in the higher end of the market, as wealthy overseas buyers purchased homes in Marbella and other prime hotspots. But with the market slump reducing construction in recent years, the growing demand has seen supply shrink.

"With the domestic market in hibernation, some of the responsibility for recovery has fallen on to international shoulders but, certainly in the Marbella area, they tend to want the very best homes on the market and these are in short supply," comments Nick Stuart, director of estate agent Spanish Hot Properties.

Indeed, only one developer in the area has been actively building high-end apartments and penthouses in the last two years and none have been in prime locations.

As a result, demand for quality real estate is even stronger, explains agent Courtney Hooper. Managing the sale of a development of 14 new three-bedroom penthouses, townhouses and apartments, Hooper has already seen several similar properties snapped up - and is now down to his last one.

The development, located in the exclusive village of Cartama, close to Malaga, Marbella and Puerto Banus, has a current valuation of €2.7 million. But thanks the economic climate, that price has plummeted by over 80% to just £350,000.

"The immediate sale could be done in one day, but you can also buy one of the 14 shares for £25,000 each," says Hooper.

"You could make a potential profit of £4 million if you sold on the properties as a timeshare!" he adds.

Indeed, local agents have seen fractional ownership become increasingly popular this year, according to Euro Weekly News, with buyers using the scheme to invest in property in Spain's most desirable locations.

This range of investment possibilities makes the Cartama development "an ideal opportunity" for a small group of overseas buyers, continues Hooper, highlighting the development's strong rental potential thanks to its location in an attractive real estate hotspot.

The perfect pension with cash flow positive income or an early retirement opportunity?

"The choice is yours," he smiles.

Find out more information and make an enquiry:

http://www.themovechannel.com/property/details/6885378/

Spanish commercial property investment continues to rise

Ivan Radford — Thu, 21 Feb 2013 11:41:00 GMT

Spanish commercial property investment continued to rise in the final quarter of 2012 with activity increasing by 10 per cent year-on-year, according to Savills.

The advisor's latest research shows that total investment volume hit €2.1 billion in 2012, although half of this is accounted for by three individual transactions: the purchase of Torre Picasso for €400m, the Canalejas complex and Banco Santander's headquarters in Madrid by the Villar Mir group for €215m and the purchase of 439 branches of the Caixabank.

Overall, the investment market in Spain is dominated by domestic investors who account for 61 per cent of transaction volume. These investors focused mainly on office and retail assets with the two sectors jointly accounting for 79% of activity in 2012.

But while foreign buying activity remained subdued, Latin American investment climbed significantly, accounting for 22 per cent of the total investment volume last year - a huge surge from 2011, which they made up just 0.5 per cent.

Capital from Chile, Venezuela and Mexico amounted to approximately €488.5 million, compared with €8 million in 2011, according to Savills data, largely due to the purchase of 439 CaixaBank bank branches by Mexican property firm Carso for approximately €430 million.

Luis Espadas, head of capital markets at Savills Spain, says: "Activity from foreign investors has been limited over the last 12 months but there are international buyers on the sidelines, such as opportunistic investors from the US, monitoring Spain's market indicators and economy waiting for the right time to invest. Latin American investors certainly boosted the Spanish investment volume in 2012 and we expect to see continued interest from across the Atlantic partly due to cultural and language similarities but also because they believe the market presents good investment opportunities."

Savills research shows that prime yields across all sectors moved out by on average 50 bps in 2012, mainly due to ongoing rental adjustments. Currently prime yields for offices stand at 6%, for shopping centres at 6.75% and prime yields for high street retail stand at 5.5%, putting them above current European averages of 5.5%, 6% and 4.6%, respectively.

Gema de la Fuente, head of research at Savills Spain, comments: "Due to the current economic climate the market in Spain continues to be challenging. However, steps taken by the Spanish government such as restructuring the banks and creating Sareb, the so-called ‘bad bank', to isolate toxic assets show a commitment to addressing the situation and give investors confidence that Spain is on its way to recovery and a return to stability.

"In 2013 we expect investment volumes to remain similar to last year unless we see some portfolio transactions. Private domestic investors will continue to have the upper hand in terms of market knowledge and these buyers will remain focused on prime offices and high street retail units around the €30 million mark. This is because they can acquire these properties without the need for financing and expect them to increase in value once the market has bottomed out."

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Corvera airport moves closer to reality

Ivan Radford — Wed, 20 Feb 2013 10:49:00 GMT

Positivity has emerged from the Spanish press with regards to the long-awaited opening of Murcia's Corvera Airport. The Region's Culture and Tourism Minister this week insisted that "everything is going well" and local estate agent Mercers remains hopeful of a spring-summer opening.

Spain's third largest general interest newspaper bore the headline "An Airport on the Runway" following reassurance by Murcia's Director General of Transport and Ports, Antonio Sanchez-Solis, that the validation procedures from the Spanish Aviation Safety Agency (AESA) are 80% approved - one of the last steps towards Corvera Airport becoming fully operational.

Chris Mercer, Director of Murcia-based estate agent Mercers, says, "This process has been long and drawn out, not helped by enduring recession, but it looks like we'll finally get our new Airport. The Spanish aviation authority, AENA, has guaranteed that commercial flights currently operating in and out of Murcia San Javier will be transferred immediately across to Corvera upon opening. All airlines involved have agreed to cooperate. With 1.2 million passengers using San Javier in 2012, this isn't a bad starting point for a new Airport - a major advantage over Spain's so-called ghost airports of Cuidad Real and Castellon who've never handled a single passenger."

These ghost airports have been playing on the mind of Murcia's Culture and Tourism Minister, Pedro Alberto Cruz, who admitted this week that airports in Spain "have a very bad reputation". But he went on to insist, whilst talking to Spain's highest circulation newspaper, that Corvera "would not have the same fate as Castellon or Cuidad Real." "We have to be confident, it's possible that other elements of the economy or government aren't conveying too much confidence but this (Airport) is on track". Previous reports have also suggested that up to three of the nine million passengers currently using Alicante's El Altet Airport would find Corvera closer and more convenient.

Amongst the remaining items pending at Corvera Airport are the security program awaiting ASEA approval, the enabling of a frontier and customs according to Schengen, the provision of weather services via the State Meteorological Agency as well as the final nod on restructuring airspace between commercial flights at Corvera and military operations out of San Javier. However, once open, the President of Murcia's Chamber of Commerce, Pedro Garcia-Balibrea, believes that this new gateway to the Region will be a vital asset to promote residential tourism as, "many Europeans could have a second home in a place like Murcia and the best way of arriving from overseas will be this upcoming airport".

An official opening date for Corvera Airport remains elusive but a spring-summer forecast is not inconceivable.

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Property in northern Spain set for positive year

Ivan Radford — Tue, 19 Feb 2013 13:57:00 GMT

Property in northern Spain is set for a positive year, according to agents.

The year 2013 will see demand and sales increase in the northern half of the country, luxury property realtor Lucas Fox International Properties told Global Property Guide.

The agents' latest half-yearly report for Barcelona, Costa Brava, Mallorca and Ibiza reveals a "better than expected" 2012, with sales surprisingly strong.

"In the second half of 2012, prices began levelling off and international buyers were quick to pick up the best-value properties: whether they were luxury lifestyle villas or bank-owned stocks that will require renovations in order to take advantage of their prime location," commented Director Alex Vaughan.

The report highlights different factors driving each area's improving market.

"In Ibiza, for example, foreign investors are reacting quickly to changing price signals," explains Vaughan, "and this has pushed property prices slightly upwards in the final quarter of 2012."

"In Costa Brava," he continues, "the unfavourable French tax system and forthcoming high-speed rail link are driving increased French and Northern European demand for a holiday home along the coast."

Indeed, property in Ibiza's capital Eivissa saw their values rise above the national average last year, ending 2012 on €2,955 per square metre, €1,000 higher than the rest of the country.

Expecting a positive year?

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Celebrity Property News: Ricki Lake eyes up Ibiza move

Ivan Radford — Tue, 19 Feb 2013 11:12:00 GMT

Daytime talk show legend Ricki Lake has recently revealed her desire to up sticks and swap LA for Ibiza. Describing it as "our paradise" she hopes to move her new husband and two sons to the Balearic Island "as soon as we possibly can".

Having dominated TV screens from 1993 to 2004 with the Ricki Lake Show, her comeback series was cancelled after just one season leaving Ricki free to move on - to Ibiza. Speaking of the planned relocation she said "We got engaged there, we went on honeymoon there... and the best part is, nobody in the US knows about it, and nobody there even knows me."

Ibiza Sotheby's International Realty is well-used to dealing with high-profile clients who echo Ricki's thoughts on the Island's privacy. Managing Director Daniel Chavarria Waschke says, "Prices are high in Ibiza, and the market is booming once more, which makes buying a property here prohibitive to all but the relatively wealthy including many celebrities. In 2012 sales went through for footballer Cesc Fabregas and model Naomi Campbell with many other stars already enjoying the privacy and relaxation guaranteed by living in Ibiza. Ricki will, I am sure, be very happy here."

Ricki has been published as saying that the best hotel she ever stayed in was Hacienda Na Xamena, a five star boutique hotel in Ibiza's San Miguel where she holidayed in August 2011 at the time she got engaged to Christian Evans (they married in April 2012). The proposal itself took place on Las Salinas Beach at the southernmost tip of Ibiza, a beach known for its party bars frequented by glamorous people. But, with school age sons of 15 and 11 from her first marriage, Ibiza Sotheby's International Realty believes that Santa Gertrudis would be the perfect place to set down roots.

Tasha de Gelabert, Sales Manager for Ibiza Sotheby's International Realty, is of Spanish/English nationality and has lived in Ibiza full time since 2005. A mother herself with a girl age ten and a boy age 12, she thinks Santa Getrudis would suit Ricki and her family perfectly.

Tasha says, "Santa Gertrudis exudes an understated kind of chic and is a haven for rich hippies. The English school, Morna International College, which teaches the UK national curriculum from nursery to A Level, is a big pull and the town has a very upmarket feel in terms of its large homes, art galleries, fashion boutiques, restaurants and shops selling organic produce. The social scene seals the deal with plenty of stylish bars and internet cafes for glamorous business mums and the children are well occupied with after school activities. There is also a smart hair salon, Pilates gymnasium and several options for horse riding and stabling. And you can walk everywhere, Santa Gertrudis is that small."

Santa Gertrudis is geographically right in the centre of the island yet only five minutes from Ibiza Town and the towns of San Miguel and San Lorenzo. The northern beaches such as famous Benirras Beach and the more secluded coves of Cala Xarraca and Portinatx are also very close by as are groovy clubs such as Aura and Bambuddha. For all these reasons, Santa Gertrudis is in high demand. Prices for real estate are perhaps a little more expensive than the rest of the Island with single family villas with garden and swimming pool (and neighbours) priced between one to one and half million euros and gorgeous renovated country homes with land starting from two million euros.

For more celebrity property news, click here.

Spain: Is the bottom of the market near?

Ivan Radford — Mon, 18 Feb 2013 12:48:00 GMT

Experts began to ask each other if the Spanish property market had reached its bottom this month in the light of new figures.

A report from ratings agency S&P showed that Eurozone countries such as Spain, Portugal and Ireland might recover quicker than initially suspected following austerity measures implemented by each government.

With labour costs falling and Spanish exports on the up, S&P predict that companies may begin rehire workers, helping the economy to climb out of recession.

Following this, Fotocasa.es released its new data, revealing that Spanish property prices remained stable in January for the first time in three years. Some places, such as the Canary Islands and Murcia, actually saw prices increase by 0.7 per cent and 1 per cent.

Others urged caution. Huga Navarro, manager at BPA Global Funds in Madrid, told Bloomberg: "It's still a very illiquid market, and there aren't many deals going forward at these prices. The real price, where sales can happen and that would be reflected in official valuations, is still about 20 to 25 percent below these levels."

Ashley Rigg of Global Edge concurs: "It is far too early to call the bottom of the cycle. Fotocasa are reporting asking prices which are far less meaningful than actual sale prices. It is also notoriously difficult to draw conclusions from one month's figures. They may reflect buyers pushing forward purchases to avoid the upcoming VAT rise and u-turn on the tax rebate.

"Perhaps more importantly, we have yet to see the effect of the so-called Spanish "bad bank" releasing properties onto the market. This kind of supply shock could see a sharp drop in prices in certain areas.

"The only true way to tell whether a market has turned is after it's actually happened, as sales begin responding to lower prices and better mortgage conditions. "

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Tunisia tops Thomas Cook's 2013 travel trends

Ivan Radford — Mon, 18 Feb 2013 10:54:00 GMT

LONDON, February 15, 2013 /PRNewswire/ --

With the UK suffering an even worse winter than usual, plagued by record levels of snow, ice and rain, it's not difficult to see why most of us are turning our thoughts to holidays in the sun - with 4.5 million searches on http://www.thomascook.com/ between Christmas and New Year alone.

Luckily, the UK's favourite tour operator is on hand to provide some top tips as to the biggest travel trends for 2013.

Top Tip - Tunisia

In terms of destination, 2013 is the year to go to Tunisia. With searches on Tunisia holidays up 40% on this time last year, canny holidaymakers should get there before the crowds do. The country's diversity comes as a surprise to those expecting nothing but desert - not only does Tunisia offer miles of golden sandy beaches, but also a lush and green mountainous interior, populated with rivers and lakes. Its low rise hotels not only offer the latest in luxury at great prices, but have also been built in harmony with their surroundings - no eyesores here!

The destination is an adrenaline-seeker's dream also, with diving, windsurfing and sailing on offer; or golf for those preferring a more relaxed pace. With year-round sunshine and temperatures reaching a balmy 20°C as early as March, it really is the perfect springtime escape.

Winter Sun in the Canaries

Those seeking sun holidays in the next month or so appear to be favouring the Canaries as their getaway of choice - searches are up 17% on last year. Tenerife is the most popular of the three islands, but Lanzarote is 13% more popular than at the same period in 2012. The appeal of these island gems is legendary - situated just off the Atlantic coast of North Africa, they enjoy year-round temperatures which rarely dip below 20°C. Their popularity with holidaymakers mean that they offer all the amenities one could want from a sunshine getaway - fantastic hotels, restaurants offering a wide variety of world class cuisines and a huge array of water sports are just a few of the attractions that keep Brits coming back here year after year.

Summer Sun on the Grecian Islands

In terms of bargain holidays for summer 2013, the current trend appears to be centred on the Greek Islands, with searches for Lefkas, Lesbos and Skiathos up 40% on last year. The rugged volcanic coastlines and stunning whitewashed architecture of Santorini appears to be particularly popular - up 50% on 2012. Holidaymakers should book without delay before accommodation on these iconic islands is sold out!

CEE office market growing more quickly than Western Europe

Ivan Radford — Thu, 14 Feb 2013 12:40:00 GMT

Despite a lack of available development financing Central & Eastern Europe's (CEE) office market is generally still growing much more quickly than the majority of its Western European counterparts, according to the latest research from global property advisor CBRE.

Most of the office development is visible in Russia and Poland, while markets in Central Europe (CE) generally have considerably less office space currently under construction. The increased availability of office space and slowing employment has caused occupiers to move from older to new office space. Offices developed in the early 2000s on the back of increased occupier requirements have faced increased competition in the last few years, with occupiers moving to new office space. With yields softening in the non-prime office market and rents being generally low, opportunities are increasing in the value-add segment of the market.

Jos Tromp, Head of CEE Research & Consultancy, CBRE, commented:

"Increased office development activity should have a positive impact on take-up in 2013; however, general vacancy levels are not expected to come down in most markets. This situation is unlikely to change before considerable economic growth returns, which should stimulate occupiers to consider increasing employment levels again. Owners of outdated office space need to become more aggressive in order to compete with more competitive offers available on the market. This means that rents need to be reconsidered and upgrades to existing space have to become a more common practice. Retaining occupancy levels is of the highest priority as net absorption remains low."

Despite the fact that some of the devaluations on non-prime offices are already reflected in current values, it is anticipated that values in this segment will come under further scrutiny during 2013. Anticipated portfolio sales are expected to reflect the urgent requirement for upgrades to older existing buildings, especially in non-prime locations.

Mike Atwell, Head of CEE Capital Markets, CBRE, commented:

"Structural vacancy is increasing in CEE's office market; a trend that was seen in Western Europe in the early 2000s when the Dot-Com bubble burst and too much office space was under construction. As most of the older stock was built around 10-15 years ago, the relatively low standards and considerably increased client requirements have caused these buildings to fall away from being of marketable quality."

Office take-up decreased by 12% in CEE year-on-year (y-o-y), with a few positive exceptions. Warsaw particularly saw a strong year with an increased take-up of 9% compared to 2011. Prague, Budapest and Bucharest faced weak take-up, generally 25% below 2011-levels, with additional renewal activity pushing up total leasing activity to twice that level in the case of Budapest for example. Moscow's take-up was roughly 15% down y-o-y, partially caused by the below average pipeline under construction.

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Solution found for timeshare maintenance fees in Spain

Ivan Radford — Wed, 13 Feb 2013 11:41:00 GMT

Timeshare owners who have been happy with their purchases for many years have been hit with large increases in their maintenance fees over the last few years. This cost, which used to be manageable and acceptable has now, for many people, turned into a financial burden and an emotional worry - particularly for the older generation who are not comfortable with having debts and don't feel comfortable facing up to aggressive timeshare companies.

A maintenance fee which would have been around £100 when the week was purchased can often have risen to £500 per week and sometimes as high as £1,000 per week. With some owners having been persuaded to buy several weeks you can see how owners dread receiving the annual maintenance fee invoices each year and how something that was supposed to be an enjoyable purchase has turned into a nightmare for millions of people around the world.

Traditionally there were several different solutions to this problem. Unfortunately these solutions have often stopped working over time;

Sell your week. Unfortunately due in part to the rising maintenance fees most people are not even able to give their timeshare weeks away, let alone sell them for anything approaching the original purchase price. There is also a huge potential for people trying to resell their timeshare to fall foul of one of the many resale scams that have arisen from people's desires to get rid of their timeshare, which means that this option is not only often fruitless but also has the potential to get owners into deeper trouble.

Hand your week back to the resort. This used to work but increasingly resorts do not want the weeks back as to do so simply mean that the same maintenance costs are then divided between less people, which in turn increase the annual fees even more. Yes, the resort can sell the week to somebody else but until they do so they are responsible for the maintenance fees themselves.

Stop paying and hope for the best. In the past if you simply stopped paying the resort would normally take your week(s) back after a certain period of time. This was intended to be a stick to make you pay but as owners started using this as a good way of getting out of their ownership the resorts stopped doing this and insisting that the maintenance be paid. Some owners will risk the fact that the resort will not try and come after them should they stop paying but many are scared that the costs due abroad will impact on their credit rating back home.

Maintenance fee invoices tend to issued at the end of the calendar year and it is therefore now when owners are looking for other solutions.

Judicare have been able to use a little known part of Spanish law to find a legal and cost effective solution which allows owners of Timeshare in Spain to get out of their timeshare ownership, and therefore their obligation to pay the annual maintenance.

If the Timeshare companies had done things properly and in accordance with Spanish Law then this solution would not work. Fortunately for the owners facing huge maintenance fees this is rarely the case and therefore Judicare have been able to help the majority of Spanish timeshare owners who have contacted them to date. We therefore feel that the testing phase of this solution is now over and that it is a viable solution for owners looking to get out of their timeshare maintenance obligations.

Brits spend €1.46bn in Spain

admin — Tue, 12 Feb 2013 08:08:00 GMT

Photo credit: Kevin Poh

"Recession, what recession?" some may say as Brits proved the biggest spenders in 2012, parting with a total of 1.46 billion euros, up 12% from 2011, according to data provided by the Spanish Government. The French came in second at 515 million euros, up 16.6%, whilst spending from Scandinavian tourists grew by 17.5% and the Irish by 32%. Data further revealed that the average daily expenditure reached 76.3 euros during 2012, up 8.9%, with an average stay of 12 days per visitor.

Indeed the Spanish Ministry of Industry, Trade and Tourism's latest report (Jan 2013) on spending by foreign tourists last year reveals that throughout the Valencia Community (home to the Alicante province which generated 70% of turnover), spending by foreign tourists amounted to 4.84 billion euros in total, 9.4% more than last year.

Marc Pritchard, Sales and Marketing Manager for leading Spanish homes builder Taylor Wimpey España comments,

"Spain has indeed been through a challenging period but seeing the continual rise of tourists and associated spend to the country as a whole and the Costa Blanca specifically is immensely reassuring for both current and prospective property owners.

"Improved personal finances and a decrease in holiday prices have contributed to rising tourist levels, helping to alleviate some of the stresses on the Spanish economy. And of course, with the continued ease of access to Spain, particularly the Costa Blanca with new flights scheduled from the UK to Alicante starting this spring, we fully expect Spain remain a top tourist as well as holiday home destination in 2013."

A case in point Taylor Wimpey Espana's client, Penelope Askew, 65, from Essex spent a lifetime being sensible and saving her hard earned pennies but finally saw an opportunity to fulfil her dream of owning a home abroad. She wanted a property within easy reach of the UK and fell in love with the Lagunas del Sol development on the Costa Blanca, only a 2 hour flight away.

She says:

"I recently retired and have been careful with money all of my adult life. I saw the opportunity to buy a 2 bedroom holiday home in a brilliant location for a competitive price and jumped at the chance to spend more time in warmer climes in a home away from home in Spain.

"There's always something to do... whether on the beautifully manicured golf courses or enjoying the sunshine on the stunning beaches. Lagunas del Sol has lovely swimming pools with plenty of room for relaxing or if I fancy going further afield slightly inland, the Costa Blanca has caves with resident artisans and in many of the towns there are weekday markets with local traders selling their goods.

"Taylor Wimpey España made my Spanish holiday home dream a reality. From start to finish I found the process of owning my own piece of the Costa Blanca hassle free. My queries were dealt with immediately and a friendly contact in Spain was always available to provide detail to assist with purchasing my home."

With award winning beaches, easy access to Alicante and San Javier airport in Murcia, Benidorm an hour away and Cartegena half an hour, the Costa Blanca is a well-known tourist destination with a gorgeous sea port. It's easy to see why people come here time and again!

And if like Penelope you want to make that holiday more permanent then Lagunas del Sol is the perfect choice for a holiday home. Set in a charming rural area and located close to the heart of Rojales, the development comprises townhouses designed in a natural setting and very close to the beautiful beaches that this area is famous for. All the properties are being built to excellent specifications boasting 3 bedrooms, a garden, private parking and enjoy outstanding views towards the swimming pools and gardens, available now from just €139.840.

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Post-crunch Spanish developments beat slump thanks to Russians

Ivan Radford — Thu, 07 Feb 2013 10:42:00 GMT

While the majority of the Spanish property market is seeing reductions between 20 and 40%, and in some extraordinary cases even further, the luxury sector is profiting from wealthy Russian and Asian buyers across the globe.

Indeed, Fine & Country Spain's latest project has sold most of their homes during some of the toughest times of the last few years, while in prime locations, namely Marbella, properties have maintained their value better than those in secondary locations with lesser qualities.

Michael Lovett, Managing Director at Fine & Country Spain, has seen that today´s clients who have a certain level of liquidity are predominantly from across the continent: "In terms of foreign buyers, the Russians have clearly won in that department. The Russian middle class is now growing and becoming more affluent, snapping up properties overseas in sought after locations. In the past it was only a select few oil-rich Russians that had immense buying power. This has clearly changed and evolved into a much more open market."

Russians will pay elevated prices if the product meets their expectations, keeping state of the art new builds on the Marbella beach front in high demand. These types of properties have been recession proof, where developers continually invest in the latest designs and construction techniques while still reducing the sale price accordingly with the market. Higher quality structures of monolithic concrete are frequently being built all over the region marketed by luxury estate agents like Fine & Country. Even in the bleakest times for the economy, they offer reliability, prime locations, and value for money.

"Today's buyers are changing too", Michael continues, "Insisting almost exclusively on sea views and quality designs meaning we are obliged to offer only the very best of what the market has to offer. Interest in Andalucian rustic-style homes is very rare now, as most buyers do not settle for second best."

"The proposed residency law has definitely had an effect as well. Middle Eastern and Asian groups have expressed interest in this and purchased property purely to meet the requirement for residency. In many cases they will never even make use of that property with their sole interest being Spanish or European residency." This only applies to those buyers outside the EU of course, where the process of acquiring residency is much more complicated. The trend is clear however, that the foreign market is getting even stronger in Marbella.

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French commercial property deteriorating faster than Greece

Ivan Radford — Mon, 04 Feb 2013 13:00:00 GMT

The commercial property market in France is deteriorating faster than Greece, Italy and Spain, according to the Royal Institution of Chartered Surveyors.

The latest RICS Global Commercial Property Survey shows that although investors risk appetite is improving in some European countries, the majority of commercial property markets across the region recorded falling occupier activity and negative expectations for rents and capital values during the last quarter of 2012 - and France is leading the decline.

In the rest of the world, sentiment in real estate markets generally remained reasonably positive. Nowhere is this more the case than in Asia, where the results for both occupier and investment markets paint a fairly robust picture. Both, for rent and capital values, the survey points to further healthy increases in Thailand, Hong Kong and China.

In the European occupier market, conditions were broadly unchanged compared to last quarter, with the majority of countries covered in the survey recording falling tenant demand and a negative outlook on rents. The best performing markets remain Germany and Russia.

Sentiment in the Russian real estate market remains firm with a material imbalance between the demand for, and supply of, prime space helping to underpin rental expectations. And Germany continues to buck the wider trend in Europe with both occupier and investment demand still on a rising path, although in both cases not by as much as a year ago.

According to the survey, a moderate Improvement in investor risk appetite in some European markets (such as Ireland, Germany, Russia, Scandinavia, Greece, Switzerland and Belgium), widely attributed to the European Central Bank's Outright Monetary Transaction (OMT) programme which effectively enables the ECB to act as lender of resort to euro zone governments, should lay the groundwork for an eventual recovery in the economy and commercial property sector over the medium term. But RICS warns that the coming year is likely to remain challenging.

Financial market conditions have improved markedly, including a significant compression in euro zone sovereign bond spreads. However, this has yet to feed through to the real economy, where private sector lending is still contracting at the headline level. This partly explains why capital value expectations remain negative in the majority of cases (the split between those countries expecting rising and falling rents was unchanged on the quarter).

Commenting on the Q4 survey results, Simon Rubinsohn, RICS Chief Economist, said:

"Asia appears to remain a particularly attractive location for investors seeking out commercial real estate assets with sentiment still strongly positive. But just as interesting is the emerging trend in the UAE, where the mood is improving in a material way after the most calamitous of downturns, and the US, which now seems to be firmly in recovery mode.

Of course, the global economy continues to face significant risks but the numbers suggest that property continues to be viewed in a generally positive light away from Europe where the news flow for real estate still remains particularly challenging. Here, the expected flow of distressed properties is continuing to undermine any prospect for a more stable trend across much of the region and while this may be prompting a slight uptick in investment enquiries from opportunistic investors in some markets, it is contributing to the continued weakness in capital values away from the most sought after locations."

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Currency Watch: Sterling continues slow start to 2013

Ivan Radford — Fri, 01 Feb 2013 13:39:00 GMT

Sterling has continued its slow start to 2013 with sentiment on the British pound still low.

Standing against the US Dollar continued to benefit American buyers, with rates threatening to break 1.5900, with the GBP weakened thanks to fears surrounding the UK's recession-hit economy.

"UK manufacturing PMI is due this morning," reports currency broker UK Forex, "and if better than expected might provide the momentum for GBP/USD to make it through. If it does and taking a medium term view this might provide opportunities for investors to buy dollars as the outlook for the UK economy remains bleak, evidenced by the weak GDP data released last week."

"Across the pond yesterday US data came in generally weaker than forecast (this included unemployment claims and personal spending) and it dragged on the greenback," added the broker.

The Euro, meanwhile, is looking strong against the dollar as the ECB announced in January that banks would be repaying 30pc of the LTRO at the end of the month. Even disappointing German retail sale data has not hampered the strengthening of the currency, although the USD is expected to continue to improve.

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Reasons to go to the Canary Islands in 2013

Ivan Radford — Thu, 31 Jan 2013 09:38:00 GMT

LONDON, January 30, 2013 /PRNewswire/ --

Take advantage of the Canary Islands' enchanting year-round sunshine with Thomas Cook

On the same latitude as Florida and just 60 miles away from the coast of Africa, it is not hard to see why there is so much sun blazing down, so consistently, across these stunning islands. Even in January - temperatures stay between 15 and 18 degrees C, perfect for those wishing to get away from it all on winter sun holidays.

Add to this great hiking routes, water sports, swimming and bicycle trails, golfing, horse-riding, beautiful beaches and energetic nightlife and it's clear to see that Canary Island holidays offer a diverse, fun-filled and action-packed experience for all the family. Well-known for its vibrant nightlife, the Spanish archipelago attracts a range of different visitors all year round. Leading holiday operator, Thomas Cook, looks at some of the most pressing reasons to visit the Canaries in 2013.

Tenerife

Surrounded by soft sand beaches with safe bathing areas, this is the island for water sports and Tenerife holidays are renowned for being very family-friendly. Kite boarding, surfing, windsurfing, diving and snorkelling are all up for grabs on this island - perfect for getting the kids active in 2013. Why not get your holiday going with a visit to Siam Park Water Kingdom? It's full of flumes and slides for hours of fun. Keen hikers can attempt the highest peak in Spain, Tenerife's Pico del Tiede, a mountain surrounded by a photogenic landscape marked by its volcanic past.

Lanzarote

More than 100 breathtaking beaches surround this island's coastline, ranging from black lava rock pebbles to fine white sand, so this really is a paradise for sunbathers and explorers alike. The centre of the island has a moonlike look to it, while the north of Lanzarote is much greener and flatter; offering diverse trails to mountain bike through and help you burn off those seafood feasts you've been indulging in! Those visiting the island can enjoy locally-made herb liquor at the Museo Artesania.

Fuerteventura

Fuerteventura is the second largest Canary Island and is famous for its long stretches of beaches and rocky inland areas. Great cycling is to be had there, as well as an abundance of surfers riding the famous swells brought in on the Atlantic. Diving schools and swimming schools make this island the ideal place to indulge in your favourite water sports.

Gran Canaria

A beautiful mix of soft, silky sand beaches, desert areas and mountainous landscape, Gran Canaria is a hiking paradise. This island has the Sahara to thank for its picturesque rolling sand dunes and rolling, golden bays which have drifted in across time from the African desert itself. It is also the hottest island with a temperature that rarely drops below 20C. Contrast this with the fact that Gran Canaria is known as one of the most vibrant nightlife spots in the Canary Islands and you won't be able to resist.

Where are you going on holiday in 2013? Thomas Cook tries to guess...

Ivan Radford — Thu, 31 Jan 2013 09:31:00 GMT

LONDON, January 31, 2013 /PRNewswire/ --

• Thomas Cook predictions for holidays in 2013

• Canary Islands feature in top five lists for both summer and winter breaks

• 4.5 million people have visited their website since Christmas to catch a glimpse of advanced deals for 2013 holidays

As Thomas Cook's recent surveys discovered, many people decided to stay in the UK in 2012. For many this was the unfortunate result of the country's economic woes while for others it was simply in response to iconic events happening on home soil.

The dawn of a new year means change though. And although there are not too many exciting events on our shores in 2013, thankfully economic predictions are looking more positive. Rather than getting out the crystal ball, the leading travel agent polled more than 2,000 people to put together their predictions for holidays over the coming years.

The complete package

There are plenty of cheap package holidays waiting to be snapped up by lucky holidaymakers. Thomas Cook's surveys predicted that Paris will be the top city destination of the year and they've got plenty of offers to help make this the case. A romantic break in Paris, visiting the Louvre and the Eiffel tower, is perfect for couples both young and old.

Likewise, Thomas Cook predicts that Tunisia will be near the top for winter getaways. Searches are up by almost half (40%) for trips here and with everyone wanting to get away from the terrible British weather cheap holidays to Tunisia guarantee sun on a budget.

Year-round popularity

In addition to these top locations, Thomas Cook also predicts that some destinations will be so versatile that they'll entice both winter and summer travellers. Featuring in their top 5 lists for both summer and winter breaks, the Canary Islands are one spot which is sure to get its fair share of travellers this year.

According to Thomas Cook's research, searches for these islands are up 17% on last year. Whilst Tenerife is likely to remain the most popular of the three islands, Thomas Cook expects its sisters to lessen the gap as searches for Lanzarote holidays have grown by 13%.

The early bird catches the worm

Proving that you can never be too prepared, Thomas Cook has also made predictions for next year's Christmas breaks. For those who missed out on snow-covered scenes this year, winter wonderlands such as Lapland are sure to be popular as searches are already up 146%. For those after an active winter break, ski holidays to Austria and Bulgaria have also experienced increases of 54% and booking early could generate significant savings on trips to these winter wonderlands.

Balearic property bucks Spanish trend, says Sotheby’s

Ivan Radford — Mon, 28 Jan 2013 12:16:00 GMT

Balearic property is bucking the downward Spanish trend, says Sotheby's International Realty. In a crisis the wealthy tend to hold firm, explains the firm, which has found that is definitely the case with both Mallorca and Ibiza, where well-heeled Europeans, and now Americans, Russians and Chinese buyers are still showing strong interest.

Daniel Chavarria Waschke, Managing Director of Sotheby's International Realty with offices in both Ibiza and neighbouring Mallorca, has been keeping a close eye on the property markets amidst so-called global crisis.

"Ibiza had its recovery year in 2012, light years ahead of faltering markets on Spanish mainland, and is already ‘booming out' again," he comments. "Even off-plan and in-construction property is selling at remarkable pace, usually the hardest product to sell in a typical holiday home market as buyers tend to want something tangible and finished. This proves Ibiza's reputation as a safe haven for real estate investment."

This observation is substantiated nicely at the gated condominium resort of Cala Conta on Ibiza's western coastline. 95% of phase one sold out off-plan in less than a year at prices of 1.6 million euros or more for each villa. Comparatively high prices are not putting buyers off, in fact Island-wide the most substantial homes are in greatest demand for 2013 - in particular from celebrities.

"Take the security-conscious gated community of Vista Alegre on Ibiza's south coast as an example," says Daniel, "Here a finished villa may sell for anything between two and 25 million euros but sales are brisk, with interest from all nationalities including a handful of footballers from the Spanish national team. Nine sales went through in 2011, when the Island was supposed to still be in a time of economic adjustment."

Turning attention to Mallorca this, the largest of the Balearic archipelago, also has a bright future but is not quite out of the recovery stage just yet.

Daniel continues, "Mallorca is basically one year behind Ibiza in terms of recovery. At the top end of Mallorca's property market the worst is over and actually never went through the massive corrections of mainland. Most luxury homes haven't dropped more than 15% in price and some seafront apartments or villas with panoramic views have even increased in value. Whilst there are currently some great opportunities for buyers, once these have been snapped up Mallorca's recovery will accelerate in 2013."

Throughout the "crisis", demand for holiday homes in Mallorca has remained high, largely due to the mix of nationalities involved. An easy two hours flying time from most northern European cities, more than 80% of buyers in Mallorca are not Spanish with German speakers such as the Austrians, Swiss and Germans (of course) featuring heavily alongside British and a recent surge from Scandinavia.

The Island is already blessed with stunning inland villages, beautiful coves, marinas and beaches, fertile agricultural plains, an impressive capital city, imposing mountain ranges and 24 golf courses, but, in 2012, things got even better. Mallorca has made a coordinated effort to orientate itself towards the most discerning clientele with Philippe Starck-designed superyacht marina Port Adriano, the self-styled "sexiest place on earth" Nikki Beach and Jumeirah Port Soller Hotel & Spa all opening in 2012.

The venues are proving to be a hit, in particular, with the Russians, 200,000 of whom visited Mallorca last year - out of almost 23 million passengers using Palma International Airport. The Airport itself has been extended and refurbished with brand new flights for 2013 including London Heathrow, Vienna, Helsinki and Belfast. In a similar fashion to Mallorca, Ibiza is also enjoying a surge in flights with British Airways adding a direct London Heathrow service to their hugely popular London Gatwick and London City Flyer timetables. The Balearics have never had it so good.

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Confidence in European real estate on the up

Ivan Radford — Fri, 25 Jan 2013 12:04:00 GMT

Confidence in European real estate is on the up this year, according to Ernst & Young.

The firm's Real Estate investments Indicator 2013, released this month, saw investors agree that transaction volumes would rise this year thanks to increased cross border transactions and ongoing inflationary pressures. However, there are mixed fortunes by country for M&A in the sector.

Hartmut Fründ, Global Transaction Real Estate Leader comments,

"Global capital markets are yet to regain pre-crisis levels of liquidity, but there are suggestions that the economic climate is looking more favorable for real estate investments. Both volumes and transaction size in 2013 are likely to exceed levels seen in 2012."

The report also highlights that while some new regulations are likely to make traditional sources of financing harder to access for real estate investors, alternative sources of debt funding could become more plentiful.

Almost three-quarters of investors surveyed say that the continued weakness in the Eurozone economy will strengthen European investors' activity in the real estate markets. This highlights the ongoing flight into real estate assets by investors around Europe. This is a reversal from a year ago, when the appetite for such transactions was limited as investors waited to see how the crisis would develop.

However, the picture varies across the continent. Certain non-Eurozone countries, such as the UK, are currently comparatively more attractive for real estate investments than certain Eurozone countries. Similarly the southern and some peripheral European real estate markets are viewed with relatively more caution than central or Northern European markets.

Respondents from 13 of the 15 countries also believe that inflationary pressures will propel investors toward real estate assets which are traditionally seen as a natural hedge against inflation in the medium term. More than 80% of investors in Germany, France and Switzerland agree that inflationary fears will underpin real estate investment in contrast to just 20% in Italy.

Investors remain concerned about the impact of a more stringent regulatory environment on the availability of debt financing, particularly Basel III. All those surveyed expect Basel III to make loans less appealing for banks and lead to further restraint in the mortgage business. Austria, Sweden and the UK were among the strongest proponents of this view, with 85%, 83% and 81% of respondents, respectively, saying that they were in agreement.

At the same time, other recent directives could create new funding resources. In the case of Solvency II regulation, a majority of respondents from most European countries see potential for insurance companies and pension funds to act as debt providers for real estate investments in the future, with only Italian respondents disagreeing.

Fründ comments, "Real estate financing has been changing and will continue to do so, affecting the financial power of potential buyers. Nevertheless, market participants expect new ways of financing to be found, since most investors anticipate a rise in transaction volumes despite new regulation."

According to the majority of respondents the price of both office and retail property across Europe is expected to rise or at least remain stable.

Office prices in peripheral locations such as the eastern part of Europe, particularly Russia and Turkey, are seen as having strong growth potential. This is also the case with retail properties.

Despite the optimism about the rising price of office properties, respondents felt it was less likely to be an investment focus in 2013 than in 2012. By contrast, investors in most countries are likely to keep at least some focus on retail properties.

Residential properties, however, will retain a strong to moderate focus in most of the countries surveyed, with the exception of Italy, Spain and Luxembourg, while in Germany and Switzerland they remain highly sought after.

Across Europe, nearly three-quarters of respondents expect transaction volumes in 2013 to exceed levels seen in 2012, with only respondents in Italy disagreeing that volumes are likely to increase.

The average size of deals is also expected to rise, according to the majority of respondents, with just Spain and Italy predicting little improvement in deal size.

Fründ concludes, "The upward trend appears to be driven at least in part by an expectation of increased cross-border investment activity, with a majority of respondents in 12 of the 15 countries surveyed predicting higher levels of interest from international real estate investors in 2013, compared with 2012."

Nevertheless limited availability for debt funding will remain an obstacle. "Furthermore the ongoing price mismatch between buyers and sellers could also act as a brake on deal flows."

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5 Spanish Costas you should consider for property

Ivan Radford — Thu, 24 Jan 2013 15:23:00 GMT

No, not the coffee. Spain's Costas give you an altogether different buzz thanks to its highly-concentrated shot of sea and sand and large serving of sunshine. Buyers from all over the world come to the country's coastline to enjoy some of the best beaches on the planet. But which so many famous Costas to choose from, which branch is the best?

TheMoveChannel.com runs down some of Spain's most popular coastal areas. These are 7 Spanish Costas you should always consider for property:

Costa Brava

Earmarked back in the 50s by the Spanish government as a place for holiday development, the Costa Brava has been living up to its potential ever since, with the spotless shorelines and warm summer climate bringing in tourists and second home hunters by the thousands.

Browse TheMoveChannel.com's listings of property in Costa Brava North

Costa del Sol

Located in the south of Spain, the "Coast of Sun" has more than earned its name over the years with over 300 days of sunshine per year. The region became particularly popular among British buyers, even changing the nickname to "Costa del Crime" during the 80s. The most sought-after property hotspots include Torremolinos, Marbella and Malaga.

Browse TheMoveChannel.com's listings of property in Costa Brava

Costa de Valencia

The Costa de Valencia surrounds the Valencia province, where the city of Valencia is located. A stretch of golden sand, the beautiful beach provide a striking contrast to the dramatic mountains in the region, which combine to form an area of stunning natural beauty.

Browse TheMoveChannel.com's listings of property in Costa de Valencia

Costa Tropical

Located in the province of Granada, Andalusia, the Costa Tropical is a unique area in Spain thanks to its range of agricultural zones and smaller resorts. Together with the rugged Sierra Nevada Mountains which reach right to the coast, the Costa Tropical climate promises homeowners mild summers, but equally mild winters.

Browse TheMoveChannel.com's listings of property in Costa Tropical

Costa Brava North

The North of the Costa Brava is home to the rugged cliffs and sheltered coves that give the coastline its name. Medieval castles, old towns and tranquil bays span the area, with popular hotspots including Baix Emporda, Begur and Platja d'Aro.

Browse TheMoveChannel.com's listings of property in Costa Brava North

Swedish surge sends Spanish property sales soaring

Ivan Radford — Thu, 24 Jan 2013 14:22:00 GMT

Photo credit: Kevin Poh

The widely reported trials and tribulations of the Spanish economy, which is predicted to continue shrinking in 2013, have painted a rather bleak picture of late. But increasing demand from Swedish buyers sent sales of Spanish property sales soaring last year, according to agents.

The Real Estate Agency, the Spanish division of Fastighetsbyrån, Sweden's leading real estate firm, saw sales volumes jump an astonishing 90 per cent in 2012.

As the Swedish economy continues to grow, an increasing number of Swedes are snapping up properties in Spain, rivalling the demand from Russians and Brits.

The Costa Blanca and Costa del Sol are particularly popular among the Swedes, The Real Estate Agency reports, with new build and existing homes both showing strong sales.

Daniel Nilsson, Regional Manager of The Real Estate Agency, comments: "The last 12 months have been very positive for us having received over 5,200 enquiries for Spanish property and conducting some 1,600 viewings. From this we have seen the volume of deals and revenue rise by 90% and 104% respectively in 2012 compared with the previous year. Those are not the sales figures of a dead market!

"Buyers are looking for second homes and investment properties in locations offering great weather, fantastic food and a friendly and welcoming culture such as the Costa Blanca which accounted for nearly two thirds of our sales in 2012."

The company entered the Spanish market in 2008 in response to growing demand. But, Nilsson argues, the eurozone crisis has only encouraged more investors to take the plunge: "The glut of properties available in Spain presents not a problem but an opportunity for overseas buyers, there is something to suit everyone at every budget. Whether buyers are looking for newly built developments or more traditional Spanish resale properties (which 80% of buyers purchased in 2012), choice and bargains abound.

"Buyers no longer feel constrained to purchase only in their own country, instead they have the confidence to invest in their dream home overseas through trusted real estate companies with proven track records."

And the market is continuing to grow, he explains, with The Real Estate Agency experiencing a 22 per cent increase in viewings on the southern coast of Spain in the final quarter of 2012 compared to the previous three months. Indeed, interest was so strong last year that the company is opening new branches in Mallorca and Barcelona in 2013.

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Iranians join the Spanish property search

Ivan Radford — Wed, 23 Jan 2013 12:47:00 GMT

Iranians are joining in the Spanish property search, according to one portal.

Spanish-real-estate.co.uk, a site dedicated to advertising cheap properties during the crisis, was one year old last week. 12 months on from its first property, a £13,000 apartment in Torrevieja sold to Brits, and the site is seeing demand widen to other countries, including Egypt, Russia, Sweden, China, South Africa and - now - Iran.

"Iranians are really straightforward buyers and they just pick the phone from their country and ring you up after they see the website online," spokesman Daniel Talavera told OPP Connect. "We have an investor in Madrid, from Iran, who has already done the Power of Attorney and ready to buy a half a million euro property."

"Some are apartments fully fitted out with appliances and ready to move into," Talavera continued. "Others need a little work and some are real 'fix-me-ups' which, with some love and attention, offer huge possibilities to create the buyer's dream home.

""It has been a very exciting and successful year for Spanish-real-estate.co.uk and we are really working hard to carve a name for ourselves in the UK market. The site has become popular with prospective buyers and building a growing referrals network, and not only in the UK.

"This year, we expect to have a huge range of really good properties at very affordable prices. The economic situation is keeping prices down generally, and is also forcing sellers to reduce their asking price during negotiations."

Looking for a Spanish home?

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Jones Lang LaSalle finds global investment capital leans towards real estate

Ivan Radford — Wed, 23 Jan 2013 10:53:00 GMT

Report shows commercial real estate direct investment volume will more than double to US$1 trillion by 2030; Asia Pacific region leads investment growth since crisis.

DAVOS-KLOSTERS, Switzerland, Jan. 23, 2013 /PRNewswire/ -- As business and political leaders discuss global challenges at the World Economic Forum annual meeting in Davos-Klosters, Switzerland, a new report by Jones Lang LaSalle (NYSE: JLL) reveals that investors are already responding to shifting economic conditions by funnelling more capital into commercial real estate, particularly in the Asia Pacific region. In fact, the firm estimates that the direct commercial real estate transactional market will exceed US$1 trillion per annum by 2030, compared with 2012 volumes of nearly US$450 billion .

"Capital growth ambitions that dictated many investment decisions before the financial crisis have given way to a global hunt for secure income streams in a low-interest-rate environment," said Colin Dyer, President and CEO of Jones Lang LaSalle. "While real estate asset values have shown no immunity to the financial shocks of recent years, real estate nevertheless is emerging as a preferred option for many investors."

The report, "The Advancement of Real Estate as a Global Asset Class," finds that:

Asia Pacific has outpaced other regions in real estate activity since the global financial crisis, achieving commercial real estate investment volume in 2012 equal to 77 percent of the previous peak reached in 2007. The Americas have only reached 62 percent of that level, while Europe's investment volume is 46 percent of its peak amount.
The impact of the growing pool of capital seeking exposure to real estate can be substantial. A 1.2 percent reallocation to real estate by the 30 largest sovereign wealth funds would increase capital allocation by US$50 billion, equivalent to the entire Sydney CBD office market.

Investors are targeting a limited number of super-prime assets, chiefly office and retail buildings in major gateway cities, that have emerged as the most desired assets for some institutional investors intent on owning the most stable, best-located assets, fully leased to the most desirable tenants. Competitive bidding has driven prices on many of these properties up to and beyond pre-crisis levels.

Investment portfolios shift toward real estate

Across eleven major global markets, spreads between real bond rates and prime-grade office market yields are on average 195 basis points wider now than in the fourth quarter of 2007, JLL found. Those higher returns are convincing many investors to increase exposure to real estate.

"With sovereign bond market yields at multi-decade, and in some cases multi-century, lows, and with the outlook for capital growth subdued, yield becomes a core driver of investment returns," said Dyer. "The spread between real estate and sovereign debt yields remains high, offering generous compensation to investors for the additional risk associated with real estate."

To a lesser extent, increased allocations to real estate also reflect investor efforts to reduce risk by diversifying away from the traditional portfolio mainstays of bonds and equities, JLL's report concludes.

Asia Pacific real estate takes the lead

The Asia Pacific region is emerging as the long-term winner in the global contest for investment capital, boosted by the rise of domestic pension funds and private wealth. Since 2008, strong economic growth that contrasted with recessionary contraction in Europe and North America has fuelled real estate activity.

Operational challenges, low levels of liquidity and in some cases undeveloped capital markets currently constrain institutional investment in the region, which partly explains why most western institutions are underweighted in the Asia Pacific region relative to the size of its real estate markets. Over the long term, however, JLL expects relative portfolio weightings to move in favour of the region as high rates of saving, rapid urbanisation, the inexorable rise of the middle classes and evidence of improving transparency increase investor confidence and interest in the region.

More trends explored

JLL's report identifies several other trends emerging around the globe, including efforts to increase transparency, the rapidly expanding practice of sale-leasebacks in Asia, and the increasing pace of renovations or replacement of aging real estate to better meet the needs of modern commercial tenants.

European commercial property shows signs of resilience

Ivan Radford — Tue, 22 Jan 2013 10:52:00 GMT

The high end of the commercial property market in Europe is showing strong signs of resilience, according to CBRE.

The firm's latest report shows that while the recession continues to affect market activity, rents continued to rise in the retail sector in the final quarter of 2012.

Rents were effectively flat in the office and industrial sectors, while yields for retail and office property saw some downward movement. For the survey as a whole, though, more locations recorded rental increases than declines, and more saw a drop in yields than an increase. Improvements were most evident in locations with stronger economic fundamentals, or those that are proving most attractive to real estate investors. By contrast, many of the weaker signals were concentrated in southern Europe, smaller CEE markets and regional UK.

At aggregate level, yield movements in Q4 2012 were moderate - as has been the case for some time now - but the direction of movement was notable. The office yield for the EU-15 dropped by four basis points following four consecutive quarters of increase, while the retail yield fell by five basis points after a small rise in Q3. Yields for industrial property were effectively unchanged. Yield improvements were highly concentrated in markets that attracted increased investor interest in Q4, notably Germany, but also France and Ireland. Conversely, Spain, Portugal and several regional UK markets were the focus of yield increases over the quarter.

Economic uncertainty is restricting user demand and, as a result, office and industrial rents were virtually unchanged during the quarter. Where rents did rise in these sectors, it was mainly in Germany and the Nordics. The prime retail market is the main area of rental momentum and a 2.1% rise in Q4 took the year-on-year growth rate to 5.0%, its highest level since 2008. Increases in both London and Paris contributed strongly to this rise.

Richard Holberton, Director of EMEA Research at CBRE, said: "Occupier market activity and rental movements remain constrained by the expectation that 2013 will be a year of faltering economic recovery. The prime end of the retail market is showing stronger rental momentum as retailers remain very discerning over location selection for store network expansion. Investor interest is still predominantly focused on the prime end of the market and the evidence of the final quarter of the year is that this is driving pricing changes in some of the larger and more popular investment markets such as Germany and France."

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Gap between asking/selling prices of Spanish property shrinking

Ivan Radford — Tue, 22 Jan 2013 10:45:00 GMT

The negotiation margin between buyers and sellers in each transaction is a world apart. There are many factors involved and currently the urgency for selling and the urgency for wanting to get a good deal is one of them.

Due to the fall of home prices, the distance between buyers and sellers continues being significant, which is delaying the clearing out of the Spanish housing market. A study from a Spanish property portal, pisos.com, cites this gap in 2012 as being 42,367 euros, more than 4,500 euros less than in 2011.

Although the prices of the properties being advertised shorten distances facing the ideal budget of potential buyers, the process goes more slowly than in other countries where sales have already gotten on a path again where growth is more or less stable.

The analysis of the offer prices and demand prices done by pisos.com since 2009 shows that this distance between what the seller is asking for and that which the buyer is able to pay has gone from 55% to 33% at the national level in these four years. According to Miguel Angel Alemany, general director of the site, "this percentage would be even lower, since the offer prices that the portal publishes are not definitive and they are subject to negotiation between both parties."

Alemany also stresses that the data given by the report gives faith to the "great effort done on the part of the seller at the time of adjusting prices," since a flat on sale in Spain has gone from 220,500 euros in 2009 to 169,867 euros in 2012.

Spaniards' budgets for getting a house have been reduced in 2012, going from 142,500 euros for a 90 square metre home to 127,500 euros. The head of pisos.com affirms that "the crisis has affected, in a direct way, the buying power of families, and this reduction in revenue, together with the fact that the amount of those financing entities is less, obligates the demand to reduce its intentions."

In this sense, the progression toward the bottom of the economic scene, above all at the labor level, reduces the bidding budget when it's time to get a home.

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Russians now second biggest overseas investors in Costa del Sol property

Ivan Radford — Thu, 17 Jan 2013 11:37:00 GMT

Russians are now the second biggest group of overseas investors in Costa del Sol property, according to new figures.

British buyers still dominate, accounting for 35 per cent of transactions on the popular Spanish coast, according to the Association of Developers and Constructions of Malaga.

But Russians are closing the gap, now accounting for 9 per cent of the market - just ahead of the Germans on 7 per cent.

"Russians are very elitist clients, and thanks to them, as well as the British and the Germans, you could say we are surviving, although the expression isn't totally accurate," José Prado, President of the Association, told the Spanish press (translated by Spanish Property Insight).

Russians are also reportedly buying big chunks of the banks' property - good news for the Spanish real estate market, which has had half of its supply repossessed by lenders. Indeed, bank-owned property now accounts for 80 per cent of the 10,000 newly built homes in the Costa del Sol.

The Russian appetite for Spanish property extends beyond the sunny Costa, though: sales to Russian buyers in Alicante jumped by 34 per cent in the first quarter of 2012.

The figures follow news that the government was planning to introduce new permanent residency visas for property buyers - a scheme that could see the number of Russian buyers skyrocket.

For the moment, though, demand is low.

"Very little is sold and [interest] has practically collapsed," Prado added.

Interested in a Spanish holiday home?

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We want your properties - all of them!!

admin — Mon, 14 Jan 2013 12:26:00 GMT

Lead Galaxy's network of overseas property portals, including TheMoveChannel.com, attracts 600,00 unique international buyers every month.

This year, Lead Galaxy wants to help its website visitors to have the widest possible choice of listings around the world.

There are already no limits on the number of properties you can list with Lead Galaxy - but for 2013 they're offering discounts to encourage you to add more listings.

The more you list, the more you save!

Visitors to TheMoveChannel.com (and other portals) get more properties to look at; you get more leads AND you pay less per lead. Everybody wins.

As you can see - the more listings you add, the lower the cost per lead you pay:

Package Max Listings Minimum Cost Per Lead

Listing 1 Property £15 per Lead

Multi 5 Properties £14 per Lead

Selection 10 Properties £13 per Lead

Variety 25 Properties £12 per Lead

Collection 50 Properties £11 per Lead

Range 125 Properties £10 per Lead

Portfolio 250 Properties £9 per Lead

Catalogue 500 Properties £8 per Lead

Database 1000 Properties £7 per Lead

How do I add my properties?

You can list your properties manually, or automatically via XML feed.

How much does it cost?

Start listing your properties with as little as £50 and no obligation: that credit stays in your account until you decide to use it.

For regular spenders, Lead Galaxy can offer free featured positions on our portals, email campaigns and other loyalty rewards to help your money go even further.

Five most popular property destinations in Alicante

admin — Thu, 10 Jan 2013 13:02:00 GMT

When you think of Spanish holiday homes, you automatically think of the Costa Blanca. Spain's famous "white coast" in the south draws tourists by the thousands every year and many of them choose to stay.

One of the most sought-after areas? Alicante. But where should you be buying?

Here are the five most popular property destinations in Alicante on TheMoveChannel.com:

Altea

Located on the Costa Blanca, Altea is one of Alicante's most well-known seaside resorts. The Mediterranean climate, traditional winding streets and white houses will be familiar to tourists who frequent Spain, while the beautiful beaches will convince many to stay.

For more information on property in Altea, visit this page.

Calpe

A coastal town in the province of Alicante, Calpe is a fishing village with a diverse history. Archaeological sites are dotted around the town combining with its Gothic Catholic church to create a beautiful piece of traditional Spain. The area's natural beauty is enhanced by its position right next to the Natural Park of Penyal d'Ifac.

For more information on property in Calpe, visit this page.

Xàbia

Xàbia is a small town that belies its popularity: visitors flock to the coastal hotspot every summer thanks to its strong transport connections to nearby airports and ferries to the Balearic Islands. Protected from the harsh winds by the mountain Montgó, Xàbia has one of the healthiest climates in the world, making it the ideal place for expats to live all year round.

For more information on property in Xàbia, visit this page.

Cabo Roig

Located 10km from Torrevieja, Cabo Roig is one of the Costa Blanca's most popular destinations. With palm trees aplenty and views of La Manga, the town boast world-class golfing facilities to match its picturesque beaches - and with warm temperatures in the winter thanks to the shelter of the mountains, this is one of the most perfect places to buy holiday home in Alicante.

For more information on property in Cabo Roig, visit this page.

Guardamar del Segura

People may spell Guardamar del Segura's name wrong, but this seaside resort's pristine beaches and and Mediterranean climate means that few forget it. Located at the mouth of the river Segura, the sunny fishing village has blossomed into one of the most popular places in Alicante. Guardamar: it's a name worth knowing.

For more information on property in Guardamar del Segura, visit this page.

Murcia agent predicts sales will rise by 25pc

Ivan Radford — Thu, 10 Jan 2013 11:07:00 GMT

Spain's economy may be struggling but the region of Murcia has a bright year ahead, according to one agent, who predicts that Murcia property sales will increase by 25 per cent in 2013.

"Overall, [we] had a very good 2012, certainly more sales than 2011, around a dozen more, comments Chris Mercer, Director of Mercers. "If the Paramount Theme Park construction accelerates, the Minister of Culture and Tourism has stated that works will officially commence on 15 January 2013, then it can only increase the profile of Murcia and the action will really hot up. Our new Corvera International Airport is also due to open sometime between spring and autumn 2013. We have even recruited a new native Spaniard sales person, brought up in Belgium and also fluent in English, to bolster the team. I boldly expect our sales to increase by 25% in 2013 over 2012."

For Mercers, foreign buyers have tended to dominate over the past year, mainly Belgian, French, Norwegian, Swedish, with a welcome resurgence of more British buyers over the last three months. The estate agent is also finally getting some more interest from the Germans and Dutch.

Chris continues: "Prices seem to be holding steady and offers are not as stupid as they have been. For example houses priced at 195,000 euros are selling for around 185,000 euros - so sensible offers are being accepted but nothing insulting. It should be remembered however that, unlike most agents, we do accurately and realistically value properties and will not list a house unless we think it is priced for the market and we can sell it. Our asking prices are normally pretty close to the selling price - better for the seller, the buyer and us."

Chris does however see some problems on the horizon. "The main issue is that bank funding will continue to be a problem in Spain. If a buyer wants more than 50% loan-to-value and the property is not bank owned, it really is a no-go situation. This will limit the market to wealthier cash-rich buyers or steer people in the direction of, often less desirable, repossessed homes. The good news is that the majority of bank owned units in our area of Murcia have now been sold, so next year there will be less and less on the market and the banks can perhaps turn their attention once more to lending on the normal resale market without distraction."

"As for Spain's Bad Bank, SAREB, I don't think it will have much, if any, impact in our area. 95% of our sales at Mercers are of privately owned resale properties to buyers who are either funding the purchase with cash or with finance from their home nation."

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http://spain.themovechannel.com/property/region_of_murcia/province_of_murcia/

UK overtakes Brazil in economic league table

Ivan Radford — Thu, 10 Jan 2013 11:02:00 GMT

The recession may still be hitting Britain, but the UK's economy climbed above Brazil in the World Economic League Table last year.

Brazil's booming economy saw it seize sixth spot from the UK in 2011, but the country's weak currency helped Britain climb back up the ladder, leaving the Latin American nation waiting until 2014 to replace the UK once again. Over the rest of the period to 2022, Brazil will move up another place in the League Table, overtaking Germany and France but being overtaken in turn by India.

Indeed, by 2017, India will overtake the UK as well to become the world's largest Commonwealth economy.

The world's top 3 economies, the US, China and Japan, are forecast to remain in the same relative positions for the next ten years. But by 2022 the Chinese economy, currently 53% of the size of the US economy, is predicted to be 83% of the size of the US economy and catching up fast.

Russia rose from 11th position in the league table in 2010 to 9th in 2011. In 2013, it starts overtaking large Western European economies and is predicted to reach the no 7 position by 2022.

Fast-growing Indonesia is one of this year's shooting stars. Currently (2012) the world's 16th largest economy, it is forecast to rise six places to enter the world's top ten in 2022. Other Asian economies also move up the ranking. Thailand goes up 6 places from No 30 in 2012 to No 24 in 2022; Taiwan from 27th to 20th and Korea from 15th to 12th.

European countries fall back. Germany falls from No 4 in 2012 to No 6 in 2022 and the UK from 6th to 8th. But the biggest fallers in Europe are France, which is forecast to fall from 5th to 9th, and Italy from 8th to 13th. By 2022, the Italian economy will be close to falling behind economically powerful emerging markets like Turkey and Mexico.

Comments Cebr Chief Executive Douglas McWilliams: "The Indians have lost to us at cricket this winter but they are on track to beat us at economics. By 2017 we predict that the Indian economy will be the largest economy in the Commonwealth, overtaking the UK economy.

"We are beating some other countries, though. We are poised to overtake France either in 2013 or 2014 as the economic effects of President Hollande's 75% tax policy and the difficulties of the euro drag France down.

"We have been neck and neck with Brazil for some time. Last year they overtook us; this year we have overtaken them again. From 2014 onwards, however, their more dynamic economy is likely to pull them decisively beyond us.

"Cebr's World Economic League Table (WELT) shows the dramatic changes now taking place in the world's economic geography with slow growing European economies falling back and Asian economies, even though their growth is slowing, catching up."

Where are you looking to invest?

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Watch - Entrepreneurs want EU to cut red tape now

admin — Thu, 10 Jan 2013 10:07:00 GMT

For years, the EU has talked about unleashing the growth potential of Europe's start-ups.

But entrepreneurs complain there is still too much red tape for that happen.

That is the view of 35-year-old Dirk Loeckx, who runs a company in Leuven, Belgium that specialises in analysing medical images.

"The thing that I would like to change most is to make the legislation more easy, the legislation has always a lot of exceptions," he told euronews.

New flights to Spain give Costa Blanca property a happy New Year

Ivan Radford — Wed, 09 Jan 2013 12:16:00 GMT

The tinsel's come down, the nights are cold and dark and your bank balance is about as healthy as you are after the Christmas and New Year excesses. It's not surprising you've got an attack of the January blues. But help is at hand to make it through that difficult first month of the year...

Despite money being tight, having a holiday is still important for Britons and seeking a guaranteed good time with plenty of sunshine, many return to destinations they know and trust such as the Costa Blanca, famed for its dazzling white coastline.

Stretching for over 200 Km along the east coast of Spain, the Costa Blanca has long been a favourite destination to enjoy a beach break in the Mediterranean sun.

And now it will be even easier to reach this popular destination with British Airways launching 17 flights per week from London Gatwick to Alicante in the heart of the Costa Blanca from 31st March 2013, increasing to 21 flights per week for July, August and September.

Marc Pritchard, Sales and Marketing Manager for leading house builder Taylor Wimpey España comments,

"Spain's climate, infrastructure, ease of access to the UK, combined with sandy beaches, turquoise seas and affordable housing market draws tourists and potential buyers in their droves.

"Despite falling domestic real estate prices, overseas demand for Spanish property certainly hasn't. If last year's performance of Taylor Wimpey España is anything to go by, with a record amount of sales in December alone, 2013 is set to be a great year!

"And indeed low cost carriers can help make the dream of reaching sunnier climes a reality. New airlines are springing up and old standbys are constantly fine-tuning their networks, making it easier for holiday makers to visit their home away from home."

Budget airlines JetXtra and Monarch have also announced the introduction of several new routes for 2013, with Monarch adding two extra weekly flights to Alicante and JetXtra offering both Alicante and Palma as new destinations from Humberside Airport.

Ready to fly to your new holiday home?

Browse our listings of Spanish property:

http://spain.themovechannel.com/property/all

Costal del Sol agents not afraid of the Big “Bad Bank” as sales rise 25pc

Ivan Radford — Tue, 08 Jan 2013 11:11:00 GMT

Who's afraid of the big "Bad Bank"?

Not Spanish Hot Properties. With Costa del Sol property sales and turnover up by 25 per cent in 2012 compared to the previous year, the Marbella-based estate agents are predicting even further growth for 2013.

Director Nick Stuart explains: "Marbella is still a very desirable area of choice for international buyers, there is even a shortage of the best homes in key parts of Marbella and Puerto Banús. Considering its perfect location, at the southernmost tip of Europe therefore squeezing more sunshine hours and higher temperatures out of the entire year than the French or Italian Riviera ever will, not to mention direct year-round flight connections to Northern Europe, Russia, North Africa and North America, prices haven't surged with such ferocity as they have on other elite coastlines. This makes Marbella very appealing. Move further away from the centre and there are still fantastic deals to be had in secondary locations such as Estepona and Mijas Costa, which are only 25 and 30km away from Marbella respectively, but half the price."

Low prices are a big factor in the popularity of Spanish property. Indeed, the affordability of real estate in Marbella is attracting an increasing number of Scandinavian investors - a surge that will continue to drive the market despite the economic climate.

Nick continues: "Nationality-wise our sales are geographically widespread, but we expect a big increase in sales to Norwegians and Swiss due to their currency being outside of the Eurozone. The Belgians, Dutch, Russians and Scandinavians are hot on Marbella as they realise that prices are at their lowest and represent incredible value for money - even on a global scale. Brits seem to be missing out somewhat. The two bedroom apartments selling for 250,000 euros today were priced at half a million at their peak, genuinely many properties are half price, and I don't think the Brits quite see that. They used to dominate the market but the Russians and Chinese are hot on their tails. Perhaps the Brits will wake up and return for the bargains soon."

Of course, the future isn't completely bright, and Nick predicts problems when it comes to financing a property purchase and the operation of the new "Bad Bank".

Nick continues, "The bank lending situation could get even worse in 2013 with a reluctance to give decent finance on homes that are not owned by the bank themselves - however in that case they are prepared to give as much as 100%. Cash buyers will be in a strong position to negotiate and will generally get discounts on properties up to the 300,000 euro mark."

"I believe that SAREB, the Bad Bank, will be a nightmare to deal with. To date, pre-SAREB, many Spanish banks have been inept at handling their repossessed stock and foreigners have been put off doing business with them. They tend to be inefficient, not always conversant in English and haven't the incentive or motivation to focus on property sales - who says this Bad Bank is going to be any different?"

"Also the Bad Bank will offer no value for our clients with very few properties that our clients actually want to buy. A large proportion of homes will be in city suburbs or non-coastal locations and most international clients wouldn't consider housing their dogs there, let alone live or holiday in them personally. Some of the new build bank stock has sat empty for years as nobody has ever considered it worthy of purchase, just because it's in a Bad Bank won't suddenly make it desirable."

Nick finishes, "I actually have an anecdotal story that tells you everything about bank repossessions for 2013. A bank recently nationalized into SAREB had already agreed the sale of 200 luxury units in Puerto Banús with finance terms in place. Once integrated into SAREB, the Bad Bank said it was no longer prepared to give finance on those properties and these existing clients had up until 15 December 2012 to complete transactions with alternative funding. Most sales inevitably fell through. However, one buyer sat at the notary with 500,000 euros to complete on 14 December, within the agreed timescale, but no one from the bank turned up to take his money as they no longer cared. Quite incredible. The secret is to make sure you deal with one of the major five banks in Spain and not with the struggling minnows."

Not afraid of the big "Bad Bank"?

Browse our listings of property in the Costa del Sol:

http://spain.themovechannel.com/costadelsol/

Repossessed property in Spain now one-third cheaper

Ivan Radford — Mon, 07 Jan 2013 12:40:00 GMT

Thanks to the tough economic climate in the eurozone, Spanish property has become of the most affordable in the world, with holiday homes in popular areas available at prices up to 50 per cent lower than the market peak.

But smart investors seeking out even more affordable bargains should consider repossessed properties, according to the latest figures from Fitch. The ratings agency announced last month that repossessed Iberian property is now selling for an average of two-thirds of its original valuation.

Lenders who own the real estate are afraid of the recession worsening, explains Fitch, prompting them to accept lower offers to shift the supply sooner.

"This highlights the dysfunctional state of the property market, characterised by a significant overhang of unoccupied properties, high borrower indebtedness and limited availability of new mortgage credit," commented the agency. "The highest depreciation has befallen those properties associated with loans originated at the peak of the market in 2005, 2006 and 2007."

With around one million new build properties and thousands of others still on the market, Fitch does not expect the market slump to end any time soon.

"It will take many years to absorb the stock of properties, even if sales volumes return to 2003/4 levels of 250,000/300,000 units a year," reads the report (via OPP).

"Before property prices can stabilise there needs to be a reduction in the oversupply of residential properties, a stabilisation in the economic background, and particularly the labour market, and access to the international capital markets for Spanish banks."

The result is a raft of repossessed property at low prices desperate to be snapped up. But it is not just in Spain that holiday home bargains can be found: Portugal is undergoing a similar process too, with repossessed homes selling at significant discounts.

"properties in Portugal, which have been taken into possession by lenders, are selling at an average discount of 35% to origination valuations," adds Fitch.

Indeed, some properties are selling for as much as 45 per cent below their value.

"The discount is lower than in Spain, as the Portuguese market does not suffer from an over-supply of property to the same extent," says Fitch. "Nevertheless, the housing market is affected by limited availability of credit, previously inflated property prices and low consumer confidence."

Ready to snap up a property bargain?

Browse our listings of Spanish property:

http://spain.themovechannel.com/property/all

The ski season is upon us - so beware of driving law changes

admin — Fri, 04 Jan 2013 12:47:00 GMT

LONDON, January 4, 2013 /PRNewswire/ --

With the ski season getting in full swing, leading car hire comparator Comparecarhire.co.uk is warning those travelling to popular ski resorts to be aware of unfamiliar winter driving rules

With the festive period now just a distant memory, the widely anticipated snow and ski season has arrived throughout Europe. With snowfall at its highest many adventurous holidaymakers will travel across Europe to make the most of it, and what better way to explore these winter wonderland regions than using a hire car.

The hike in demand for vehicle hire in ski resorts during the peak season highlights the increase in its popularity as a ski holiday 'must have'. However, with the heavy snowfall and wintery conditions come changes to particular driving laws that those in ski resorts must adhere to. In most of Europe, away from the southern countries, many drivers use winter tyres between November and April, but rules differ dependent on the country you will be visiting.

Andy Hemmington of comparecarhire.co.uk , says: "Skiing trips increase in popularity year on year resulting in a rise in holidaymakers driving abroad in very bad weather conditions. We want people to ensure they know the laws of the particular country they are visiting to avoid any costly fines or penalties but most importantly, to stay safe on the roads. Travellers should expect the unexpected in regions where you can experience extremely bad weather such as heavy snowfall. It may make for a good skiing holiday but it also makes for treacherous driving conditions."

Focusing on the most popular ski countries, here are a few points to remember to help get you on your way safely:

Austria - It is compulsory to carry snow chains in Austria. If they are not fitted in the necessary circumstances then police can stop you from continuing on your journey. On the other hand, remember to remove them as soon as the weather improves so you don't damage the road surface. Winter or all season tyres are also required by law between November 1^st and April 15^th with a minimum tread depth of 3mm when driving in bad weather
France - Snow chains are again compulsory to carry in mountainous regions, particularly the Alps. Winter tyres are recommended but not compulsory. Winter tyres can be recognised by the snowflake on the sidewall, or one of the following combination of letters: M+S, M/S, M&S
Switzerland - Snow chains must be carried everywhere during winter and there are many road signs indicating roadside bays where you should stop and fit snow chains. Winter tyres are again only recommended however; if you don't have them and your driving hinders other road users you can be fined
Italy - Similar to France, snow chains have to be carried in vehicles travelling in mountainous areas where bad weather is likely between 15^th October and 14^th April, and winter tyres are only a recommendation. However, what is important to remember in Italy is that local Provinces are free to introduce their own rules, and they can make them compulsory

If using your own vehicle to travel, since it is impossible to determine the exact severity of weather conditions in other countries when you leave the UK, you must ensure you are carrying necessary items such as snow chains in case of sudden weather changes.

When using hire cars in these areas remember there will be an increase in demand for snow chains and winter tyres so pre-book everything where possible to ensure availability. They will also often be payable locally as opposed to being included in the car hire price so take this into account when budgeting for car hire. Research how to fit snow chains and other equipment before you go or ask to be shown, and check the boot of the vehicle for such items before you drive off. Hire a suitable car such as large car or a 4x4 vehicle, snow chains should always be fitted to the driving wheels and to front wheels of 4x4's, additionally if snow chains are fitted you shouldn't drive at more than 30mph.

Comparecarhire.co.uk is one of the leading car hire comparison websites in the UK, comparing car hire prices for over 40 suppliers in 15,000 locations worldwide including Spain, Portugal and Greece.

Spanish new build property becomes even more affordable

Ivan Radford — Fri, 04 Jan 2013 11:08:00 GMT

The VAT discount on new-build Spanish properties may have ended in December 2012, but new homes in Spain are still becoming more affordable, according to new figures which show the average price dropping by 6.9 per cent.

The value of new housing in the capitals of province fell to 2,212 euros per square metre, a report by the Property Valuation Society reveals, so an average flat of 90 square metres would have a price of 199.100 euros.

Since the value of new housing reached its highest point, in 2007, their price accumulates an adjustment of 33.5%. This percentage equals, according to the Property Valuation Society to a 50.4% of the assets revaluation , at levels, therefore, dating the beginning of 2003.

During 2012, the price of new housing fell in all the autonomous communities and in all capitals of province. The biggest descents, by communities corresponded to Navarra (-12.6%), La Rioja (-11.6%), and Castilla-La Mancha (-10.2%), the only regions where the price contraction exceeded two digits. The smaller descents, were recorded in País Vasco (-4.1%), Canarias (-5.2%), Galicia (-5,6%) y Asturias (-5.7%).

Regarding capitals of province, the lowest drop in the price of new hosing was observed in Pamplona (-12.6%), Albacete (-12.3%), Logroño (-11.6%) y Soria (-11.2%). According to the Property Valuation Society, the average price of new housing dropped in 2012 more than a 10% in eight capitals of province, while in 9 other capitals of province it dropped less than a 5% and in 33 of them it dropped between a 5% and a 10%.

San Sebastián, Barcelona, Bilbao and Madrid are the capital of province with the most expensive square metre, above the national average of 2,212 euros, far away from Murcia, Cáceres, Badajoz, Pontevedra, Jaén, Cuenca, Lugo and Ciudad Real, capitals where the average value doesn't reach 1,400 euros per square metre.

Property Valuation Society predicts that the housing supply will continue to be important in 2013, despite the reduction in initiated houses, and that the demand will stay weak, save for some punctual exceptions. Likewise, it predicts that the start in functioning of The Society of Real-Estate Assets from the Banking Restructuration sector (Sareb) can have a "considerable impact" in the evolution of prices.

Looking to pick up a Spanish property bargain?

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http://spain.themovechannel.com/property/all

Spanish ski property prices slide 50pc

Ivan Radford — Wed, 02 Jan 2013 15:27:00 GMT

Photo credit: Pablo Monteagudo

Spanish property prices have been falling by the coast for some time, making it easy for overseas investors to pick up a beachside bargain. But new figures show that the recession is causing a rumble in the mountains too, with prices sliding by 50 per cent since the market peak.

Data from Idealista.com reveals that the average cost of property in Spain's most upmarket ski resort, Baqueira Beret, have now fallen from €8,000 per square metre to €4,000 per square metre.

The Catalan Pyrenees slide is closely followed by the Aragonese Pyrenees, where property values in Formigal have dropped from €6,000 per square metre to €3,000.

The figures follow a forecast from RR de Acuna & Asociados, who warn that further price falls could take place across the country if Spain's current supply of discounted homes fails to sell. Up to 2 million unsold properties are still waiting on the Spanish market, according to the company. If buyers refuse to snap them up, many may simply be demolished.

Group vice-president Fernando Rodriguez de Acuna told The Daily Mail: "There are 800,000 used homes on the market. Developers are sitting on a further 700,000 completed units. Another 300,000 have been foreclosed and 150,000 are in foreclosure proceedings, and there are another 250,000 still under construction."

RR de Acuna & Asociado's research suggests that the existing 50 per cent decline from the market peak could grow to 75 per cent, causing many holiday home owners to lose out on the value of their home.

It may be bad news for the 400,000 Brits who live in Spain or own a second home there, but the low prices are good news for investors in search of cheap Spanish property. Spanish agents have actually seen demand increase in the last year.

"Overall, we have seen a 17% increase in transactions to date in 2012 compared to the same time last year," Sales Manager Marc Pritchard told TheMoveChannel.com, highlighting a "remarkable" 74% increase in sales in the Costa del Sol.

Russian buyers are helping to drive up these sales, with middle-class buyers pouncing on affordable Spanish homes. Russian tourists passed the 1 million mark last year for the first time. More than 60,000 already live in the country. They snapped up 1,645 properties last year, almost 8 per cent of the total bought by foreigners - behind only the British, French and Germans.

A lot of their attention will be focused on the coast, but the latest wave of discounts could see them turn to the ski slopes instead.

Indeed, declining ski property prices are part of a wider global trend, according to Knight Frank. Ski properties around the world have seen prices slip by almost 10 per cent from 2008, and with prices so affordable, experts argue that ski homes are a more valuable investment than other types of property.

"Ski property is a safer investment," Julian Walker, who runs ski property specialist skiingproperty.com, told The Overseas Guides Company. "Skiing remains hugely popular and is an annual must for many people - all of whom need somewhere to stay. The nature of mountain resorts means there will always be limited supply of properties, and when you combine this with the premium rental rates ski properties command, it's easy to see why ski homes retain value."

Looking to hit the Spanish slopes?

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http://spain.themovechannel.com/property/all

5 houses to help you survive the end of the world

Ivan Radford — Fri, 21 Dec 2012 12:42:00 GMT

As the world spends the last few weeks of 2012 debating whether the Mayans were right and that the world will actually end on Friday 21^st December, few people are doing what needs to be done: finding a place to hole up and stay safe.

With this in mind, TheMoveChannel.com scours the global property market to find real estate that might resist the apocalypse.

Here are five houses to help you survive the end of the world:

Secret submarine base, Norway

Photo credit: Geekologie

The Olavsvern Naval Submarine caught the world's eye when it went on sale in June this year. The NATO-funded hideout boasts a 27,000 square foot Alpine resort and several garages, but the property's main survival tool is the giant underground hangar hidden deep inside a bomb-proof mountain. Just the place to store your submarine - and if you're serious about preparing for the apocalypse, you'll definitely need one of those.

Nuclear missile silo, USA

Photo credit: Realtor.com

Trust America to have its own missile silo up for sale. The nuclear base, unused for decades, has been converted into a luxury home for those ready to bunker down and get through the planet's darkest days. The 1,800 square-foot property appears to be a traditional mountain lodge, but underneath the floorboards lies a launch pad for an intercontinental ballistic missile built in the 1950s. Which means that if the aliens are coming: you're ready.

Doomsday bunker, Nebraska

Photo: Terravivos.com (via CNN)

In the wake of Japan's tragic earthquakes, sales of these doomsday bunkers in Nebraska shot up by 1,000%, according to CNN. Reservations for a room in a 200-person property require a minimum deposit of $5,000 with Vivos, but demand for the company's shelter soared. "People are afraid of the earth-changing events and ripple effects of the earthquake, which led to tsunamis, the nuclear meltdown, and which will lead to radiation and health concerns," commented the company's CEO Robert Vicino. "Where it ends, I don't know. Does it lead to economic collapse? A true economic collapse would lead to anarchy, which could lead to 90% of the population being killed off."

Cheerful dinner conversation not included.

Posh doomsday bunkers, Switzerland

Photo: Flavorwire

There are doomsday bunkers and doomsday bunkers. These are the latter. Located in the Swiss hills, these shelters, designed by Bjarne Mastenbroek and Christian Muller, have industrial-themed decor and windows, but the real sign of security comes from the front door, which is hidden deep inside the mountains, through an underground tunnel, the entrance to which is a fake shed. Make sure you leave the pub with enough time to find the front door before the apocalypse begins.

Adult movie bunker, LA

Photo credit: CBSLocal.com

What will the human race do during the cold, lonely months after the end of the world? One LA movie studio has the answer: a post-apocalyptic underground bunker, which will allow "1,200 to 1,500 people" to enter and provide them with bars, a performing stage and a "sophisticated content production studio", just to make sure that the world's supply of adult films outlives the rest of us. The studio's website will also continue to run, promises the company, even if it is only on the bunker's internal local network.

"Our goal is nothing less than to survive the apocalypse to come in comfort and luxury," Pink Visual spokesman Quentin Boyer told CBS Los Angeles, "whether that catastrophe takes the form of fireballs flung earthward by an all-seeing deity, extended torrential rainfall, Biblical rapture, an earthquake-driven mega-tsunami, radioactive flesh-eating zombies, or some combination of the above."

You can't say they're not prepared.

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Expats in Asia and Latin America set for biggest wage rise in 2013

Ivan Radford — Fri, 21 Dec 2012 11:12:00 GMT

Click here to view the full infographic

Australian workers can expect only modest pay rises next year while high growth markets in nearby Asia will see wages increase by up to three times that of their Western neighbours, according to the latest pay forecast data by global management consultancy, Hay Group.

With varied Australian business performance across sectors especially the decrease of the resources sector, pay forecast rates are becoming more differentiated for individual sectors and specific roles.

In Australia, pay overall will rise by an average of just four per cent in 2013, whereas in growth markets including Vietnam (12.8%), Indonesia (10.6%), India (10.5%), the Philippines (8%) and Malaysia (6.2 %) wages are expected to increase rapidly. While in China, workers can expect wage hikes of 9.5 % as the intensifying ‘war for talent' continues despite slowing economic growth (up 1.1% on last year).

Interestingly, pay rises in the second generation of high growth Asian economies are outstripping those of their colleagues in the region's more developed countries. For example, in Japan, wages will increase by just 2% next year.

Steve Paola, Senior Consultant at Hay Group, said Australian organisations are facing an increased threat from maturing markets in nearby Asia, due to slowing growth rates.

"With strong economic growth in Asia translating into need for talent and rocketing wage hikes, local organisations may struggle to keep their most talented employees in the country as they are increasingly being enticed to work for companies located in buoyant Asian markets.

"As a result, Australian businesses need to ensure they have reward strategies in place that deliver strong incentives for their current and future employees enabling them to retain high performing staff despite modest pay increase forecasts.

"Ensuring local talent is retained through providing growth and development opportunities and an engaging work environment are important non-financial retention strategies."

According to Hay Group's research, salaries in developed Western economies will experience the smallest increases in 2013, as GDP growth remains broadly flat.

Across North America, pay will rise by 2.9% - the lowest of any global region - and in Europe, crisis-weary companies in Greece and Ireland will not raise pay next year, against a subdued regional average of 3.3%. Increases in Germany, the UK (both 3%) and France (2.6%) will also be subdued and across the region the pay rises on offer are lower than in 2012 when the average pay rise was 5.5%.

"It's no secret that employees in developed markets face a tough year ahead with small wage increases however despite the weak outlook there is an upside for Australian workers as it is predicted they will receive higher pay rises than most of their Western counterparts," said Paola.

Latin America will experience the highest overall rise in salaries next year (9% on average), with Venezuelan workers set to see wages jump by a colossal 29% - driven largely by high inflation.

Looking for a profitable life abroad?

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Spanish property sales up by 30pc this year

Ivan Radford — Wed, 19 Dec 2012 10:07:00 GMT

Despite falling property prices in many areas and concerns over further contraction of the Spanish economy in 2013, it seems the sun is still shining for some with leading house builder, Taylor Wimpey España enjoying increasing sales volumes in 2012.

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

"There is no denying that in the current economic climate Taylor Wimpey España has faced challenging market conditions however I am pleased to report that our 50 years of market experience and commitment to building high quality homes, in prime locations, at affordable prices has ensured that we have not only survived but thrived over the last 12 months.

"We have seen an impressive 30% increase in sales volume for the first 11 months of this year with a staggering 375% increase in the first three weeks of December alone compared to the same month in 2011, the best December sales for years! Indeed hotspots have been the Balearic island of Mallorca and the perennially popular Costa del Sol where two of our most recent developments, Los Arqueros Beach and Cala Estancia have sold 60% of units off-plan - unheard of in today's market."

Indeed, the latest Knight Frank Spain & Portugal Insight report (Nov 2012) revealed that the first half of 2012 saw enquiries strengthen in line with a weakening Euro and despite house prices in Marbella falling by around 30% since the start of the global recession, stability has been seen over the last 18 months.

International appeal remains a key factor in both the growth of Spain's tourism industry (which saw 52.05 million international tourists arrive between January and October 2012, 3.1% more than last year) and second homes market. According to the Knight Frank report, British, Russian, Benelux and Scandinavian buyers represent the key purchaser nationalities but interest from Arab and MENA countries is growing, a trend which has also been seen by Taylor Wimpey España.

With this in mind, Spain is actively targeting affluent Middle Eastern states such as Kuwait where it intends to increase tourist arrivals from 16,000 to 19,000 by the advent of next year according to the Spanish ambassador.

Looking forward to 2013, Pritchard comments,

"There is no doubt the 1st January VAT increase on new homes from 4% to 10% will somewhat reduce demand for Spanish property however in an attempt to offload debts crippling Spanish banks and drive overseas investment for 2013, the government is taking proactive steps such as offering residency rights to foreign property buyers who spend more than €160,000 - highly appealing to non-EU buyers such as Russians, Chinese, Americans and Australians."

In terms of Taylor Wimpey España's focus, Pritchard explains that,

"Following the success of 2012, we will continue to lead the market, not get complaisant but better ourselves and our product offering which is why I am proud to announce two brand new beachfront developments in Mallorca and the Costa Blanca due to commence construction in the new year."

Still keen on Spanish property?

Browse our listings of real estate in Spain:

http://spain.themovechannel.com/property/all

Spanish property prices predicted to rise in 2017

Ivan Radford — Mon, 17 Dec 2012 12:45:00 GMT

Spanish property prices are falling now, but that won't continue forever. In fact, Spanish property prices will rise again in 2017, The Fund for the Orderly Bank Restructuring (Frob) has declared.

The fund announced this month that Spain's housing market will recover in 2017 after two years of price drops and a further two years of stagnation. Then, when the recovery begins, prices will start to edge up by 3 per cent per year.

Specifically, Frob says that prices will fall by 2.8 per cent next year and 1.5 per cent in 2015, while land prices will drop 12.5 per cent in 2013 and 5 per cent the following year. Recovery of land prices will then begin in 2016.

The news follows the setting up of Spain's "bad bank", which announced recently that vacant properties with no feasible market potential will be demolished in 2016.

Frob took over the administration of Banco de Valencia in November last year and has since seen the bank integrate with CaixaBank, reports Property Showrooms.

"This operation of integration into CaixaBank contributes to ensuring its financial soundness and guarantees its viability," Frob stated, as the fund continues to restructure the Spanish banking sector to bring more stability to the economy.

Looking for Spanish property bargains?

Time's running out. Browse our listings of Spanish property:

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JLL: "More reasons to be optimistic" about European property in 2013

Ivan Radford — Thu, 13 Dec 2012 11:22:00 GMT

Real estate investors will continue to encounter low interest rates, muted inflation and sluggish growth in most of the world's major real estate markets for at least the next couple of years according to the 2013 LaSalle annual Investment Strategy report.

A multi-speed economy has seen low interest rates, low inflation and low growth in the developed world (Eurozone, UK, US and Japan) as opposed to higher inflation, high growth/urbanisation and rising interest rates in the developing world (Central and Eastern Europe, Latin America and Asia Pacific (ex-Japan)). However LaSalle believes there are more reasons to be optimistic in 2013 with steady improvement in the world's three largest economies (US, China, and Germany). Highly accommodative monetary policies are bringing relief to capital-intensive industries like real estate. At the same time, the low cost of debt, along with changes in the regulatory treatment of different kinds of debt, introduce new uncertainties into the real estate investment equation.

LaSalle believes the uncertainties will include: distortions between unsecured and secured lending, uneven access to low-cost real estate credit between countries and within countries, exit uncertainty when unprecedented levels of support for credit markets are eventually withdrawn by central banks and timing/sequencing uncertainty, when monetary tightening occurs before a full recovery in the "real economy" has completely taken hold or is delayed.

Commenting on the report, Jacques Gordon, Global Strategist at LaSalle said: "These uncertainties should result in the vast majority of capital markets remaining extremely risk-averse. This situation is exacerbated by the deep pools of capital that are entering the "drawdown" phase of their lifecycle. During this phase, investors will typically migrate from a long-term growth strategy to a more conservative income-generating one. Even if some investors are in the drawdown phase, where income distributions matter more, extreme risk aversion is no longer warranted. In fact, this approach could create its own set of portfolio risks.

"Investors should look beyond the most risk-averse positions that have built up in their portfolios since the global financial crisis. Ironically, these "ultra-core" positions may carry some of the biggest risks to portfolio performance in the years ahead, as the delayed economic recovery eventually takes hold. We continue to believe that the investment principles, which maintain portfolio diversification as well as ensure that risks are rewarded by appropriately higher returns, are the best way for investors to proceed in this challenging environment."

In Europe, LaSalle thinks that debt restructuring still needs a lot of hard work. This deleveraging process, while painful in the short run, is absolutely critical for healthy economic growth in the years ahead. The region continues to be beset by the largely unresolved sovereign debt crisis and the real estate occupier markets remain vulnerable but with certain markets weathering the uncertainty better than others. Equity investors are as reluctant as ever to venture far from core assets, while debt investors remain constrained.

Robin Goodchild commented: "Confidence with regard to 2013 is low but comfortably above the depths of 2009. Despite economic growth expectations for 2013 being downgraded, they are uniformly better than for 2012. This conforms with the long-held view that Europe's occupier markets will improve, but at a slow and steady rate over the medium term. In the near term, only the best vacant space will achieve lettings at target rents. With the exception of the strongest markets, rental growth will be weak and below inflation. Further rental falls are likely in Spain and Italy in 2013."

Outside of Germany, France and the UK, LaSalle believes lot sizes over €80 million are often un-financeable by traditional means. Even development schemes with substantial prelets in undersupplied markets are being thwarted by the banks. Indeed the possibility of upward pressure on interest rates will impact real estate yields, further dampening the market. If inflation returns as a result of improving economic fundamentals, yields may remain unaffected.

Jacques Gordon: "We expect fierce bidding to persist for scarce prime assets in London, Paris, and the leading German cities; as a result, their expected returns will be squeezed. Most of today's capital is likely to remain reluctant to move up the risk curve, despite the higher pro forma returns on offer, due to uncertain leasing prospects and fragile income profiles."

LaSalle cites mezzanine debt, prime assets, near-CBD submarkets and retail as the best opportunities in Europe.

LaSalle also believes there are niche opportunities in European offices, hotels and data centres. The conversion of office space to an undersupplied residential use is attractive in certain markets. Parts of the U.K., Germany, and the Netherlands residential markets are particularly undersupplied, while the wider sector also offers opportunities in student housing and the healthcare sector

Investors with higher risk appetites or a predilection for a niche strategy may opt for prime hotels in tourist locations, even in struggling countries such as Spain and Italy

Jacques Gordon concludes: "The breadth of the sovereign debt crisis in Europe means that many countries have downside risks to their outlook. Within core Europe, France seems vulnerable due to the paralysis of the private sector after President Hollande took office. Extreme caution around Spain and Italy remains, despite progress in their bond markets and the promise of structural reform. Their real estate markets will present specific opportunities at an attractive price, although in general they may not represent fair value to the investor until late 2013 or beyond.

Still enthusiastic about European real estate?

Browse our listings of property in France:

http://france.themovechannel.com/property/all

Overseas sales of Spanish property rise again

Ivan Radford — Thu, 13 Dec 2012 11:12:00 GMT

Foreign buyers are increasingly more attracted to houses on the market in Spain because of the possibility of having a second home in a warmer area that will only cost more or less half or even a third of the original asking prices that were seen in 2008.

The Public Works Ministry stated that 8,803 houses were purchased by foreigners in the third quarter, a jump of 18 percent from a year ago. This is consistent with the growth in this area in the last five quarters.

In the first and second quarters of 2012 we saw an increase of 16.2 and 15.3 percent consecutively. This is great for the market because of the vast quantity of homes sitting around unsold since the crash in 2008, and the government is taking advantage of the situation by promoting sales and tax improvements to non-residents and foreign buyers.

To target the Chinese and Russian markets, mainly, the government is considering giving residence cards on a temporary basis to non-residents that buy homes worth more than 160,000 euros. Also, we have experience a growth on Egyptians placing inquiries after being attracted by the news. So, it seems that the new measure encourage overseas buyers.

The most desirable areas for foreigners are Girona, Barcelona, the Balearic Islands, Malaga, and Alicante, which is where we have seen the highest concentration of purchases, however, the Ministry did not give out a list of where exactly the foreigners are coming from for the third quarter.

But this is "still not enough", according Daniel Talavera of The Spanish Brick.

"We still saw an overall decline in sales between July and September of 1.17 percent (75,642 homes in total) due to a seven percent drop in the two quarters before," he commented. "Homes being resold performed a bit better, seeing an increase of 1.7 percent from a year ago, but new houses didn't fare as well, experiencing a drop of 6.7 percent. All in all, in the past year, we saw a 5.1 % (229,351 homes) drop from the year before. "

He highlights the new regulations that will affect the Spanish property market in 2013:

"For one, mortgage tax benefits for families have been taken away, and the VAT increase on new homes at the start of 2013 did not help a market that has been in a slump for 5 years already. In addition, Spain's unemployment rate is a staggering 25%, and as banks try to recover from the mistakes made during the boom, they have increasingly more difficult credit conditions for potential buyers

"This all demonstrates to us that even though home prices keep falling, the market is still not really recovering due to these other pressing factors. The Ministry stated that overall this drop was the worst since the last quarter of 2010."

Looking for a place in the Spanish sun?

Browse our listings of property in Spain:

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Europe property downturn “continues to surprise” as US continues to recovery

Ivan Radford — Wed, 12 Dec 2012 11:17:00 GMT

The world's housing markets posted mixed signals during the full year to Q3 2012, according to the latest survey by Global Property Guide, and Europe is at the eye of the storm.

Indeed, while the US property market continues to recovery, the scale of the European downturn, the sheer size of the downward pressure, "continues to surprise", admits the report.

Of the 44 countries for which quarterly house price figures are available, house prices fell in 23 countries, and rose in 21 countries during the year ending in the third quarter of 2012, again in inflation-adjusted terms.

America is the brightest sport on the real estate map. The Federal Housing Finance Agency (FHFA) seasonally-adjusted purchase-only house price index rose by 2.31% year-on-year in Q3 2012, the highest growth seen since Q2 2006. The nationwide seasonally-adjusted S&P/Case-Shiller home price index also rose by 1.92% during the year to Q3 2012, in sharp contrast with its 7% year-on-year decline seen in Q3 2011.

Dubai, UAE, has also rebounded strongly. The price index for all residential properties surged by 14.43% during the year to end-Q3 2012, as compared to a meagre year-on-year increase of 0.96% seen in the same period last year.

Pacific housing markets are now recovering too. New Zealand's median house price rose by 5.19% during the year to end-Q3 2012, in sharp contrast with the 4.39% year-on-year decline in Q3 2011. Likewise, Australia's housing market is also improving, with house prices in its eight major cities falling by just 1.57% year-on-year in Q3 2012, the lowest decline since Q4 2010.

Meanwhile, there is some positive news for individual European housing markets. House price falls in Ireland may be decelerating. Ireland's residential property price index fell by 13.17% year-on-year in Q3 2012, the lowest decline since Q1 2011. In addition, house prices have risen significantly in Austria, Turkey, Latvia, Germany, Iceland and Finland.

But many European housing markets remain extremely depressed, and continue their rapid spiral downwards. House price falls are accelerating in Greece, Spain, Netherlands, Portugal, Croatia and Lithuania. Of the 23 European countries included in the survey, 14 countries recorded house price falls while only 9 countries have seen house price increases. The nine weakest housing markets in the global survey are all in Europe.

Other bad news can be found in Asia, where the housing market surge has weakened. Seven of the 10 Asian housing markets included in the Global Property Guide survey performed more poorly this year than the previous year. Nonetheless, Asia's biggest housing market, China, is recovering, judging by the latest quarter's figures.

Where are you planning to invest in 2013?

Browse our listings of overseas real estate:

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Guide to buying luxury property in Mallorca

admin — Tue, 11 Dec 2012 14:23:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

The largest of the Balearic Islands, Mallorca (or Majorca) is famous around the world as a sunny holiday destination. But for many luxury property hunters, the island is a home from home, with the Mediterranean climate and beautiful landscape providing an exclusive backdrop to some of the world's most prestigious villas.

Tempted to move to the Balerics? Here is everything you need to know about buying luxury property in Mallorca:

Vital Statistics

Average property price

€2m +

Style of property

Villas

Who's buying?

Brits

Background Information

Climate

Stormy winters and hot summers are the order of the day in Mallorca, although the island's mountainous landscape keeps weather varied throughout the year. Regardless, the island's well-known Mediterranean atmosphere maintains its popularity among overseas tourists and buyers.

Lifestyle

Mallorca remains one of the most popular holiday destinations in Europe, particularly for visitors from the UK and Scandinavian countries. The same can be said of its property market, with buyers won over by the island's appealing mix of warm weather, beaches and high-quality tourist services.

Economy

Mallorca depends upon its tourism business as a major source of revenue, with more than the half of the population working within the hospitality and tourism sector. But for expats and residents, income is not an issue: like Ibiza, the Balearics' aspirational nature sees its residents living without the worries of a tight budget.

Insider Knowledge

"Mallorca tends to be more of a clique market, with more expensive house prices, but both Balearic Islands have more of a niche appeal. Ibiza is more popular with buyers, but Mallorca continues to be buoyant. You can get some lower-priced property in some areas outside of the main recognised locations with the market ranging from country houses to high-end villas."

For more on luxury property in Ibiza, visit www.UniqueLiving.com or click here.

Brazil property prices soar as Eurozone markets slump

Ivan Radford — Tue, 11 Dec 2012 12:29:00 GMT

Brazil property prices soared this year, according to Knight Frank's Global House Price Index, as eurozone markets slumped.

Brazil's real estate values jumped by 15.2 per cent in the third quarter of 2012, the highest annual increase in the world. Meanwhile, with the Eurozone now in its second recession in three years, buyers' confidence is at an all-time low, according to Knight Frank: all the bottom 12 rankings are occupied by European countries this quarter.

The Eurozone's 17 member states have on average seen prices fall by 1.8% in the 12 months to September. Other world regions such as South America and Asia Pacific have seen growth of 9.8% and 4.2% respectively.

Greece has now pushed Ireland off the bottom slot - where it has resided for five consecutive quarters - by recording an average price fall of 11.7% in the last year. Ireland, by comparison, has seen its rate of decline improve, up from -14.3% a year ago to -9.6%.

Overall, mainstream global property prices stand just 5.2% above the lows experienced in the wake of the financial crisis in Q2 2009.

Alongside Brazil, five other markets recorded double-digit annual price growth in the year to September; Hong Kong, Turkey, Russia, Colombia and Austria.

Despite positive data from the US - prices are 3.6% higher than in the third quarter of 2011, vacancy rates are at their lowest level since 2005 and housing starts are up 49% year-on-year - the US fiscal cliff casts significant doubt on this recovery.

Asia's policymakers are offering little hope of an Asian-driven recovery. China's new leadership looks set to continue with stringent property cooling measures and new lending restrictions in Hong Kong are likely to limit the availability of credit.

Knight Frank's Prime Global Cities Index, which tracks the value of luxury property in 26 cities across the world, shows that prime property values have climbed by 18.7% over the same period.

Kate Everett-Allen, International Residential Researcher at Knight Frank, said: "Confidence, affordability and debt are constraining Europe. Strict lending and the looming fiscal cliff may dent the early signs of growth in the US while regulatory measures in Asia are keeping housing markets in check. The current period of stagnation looks set to continue well into 2013."

Planning to invest in overseas real estate?

Browse our listings of Brazilian property:

http://brazil.themovechannel.com/property/all

Over a third of Brits plan to buy property abroad in next two years

Ivan Radford — Mon, 10 Dec 2012 11:20:00 GMT

With the financial crisis making real estate in Spain more affordable than ever, the number of people looking to snap up a bargain Spanish property is ever increasing.

35 per cent of UK adults (HiFX.co.uk) looking to buy a property abroad within the next one to two years. And Spain is at the top of their wish list. Indeed, the volume of foreigners buying property in Spain has increased by 18.0% from last year as reported by online Spanish news portal, Invertia.

Marc Pritchard, Sales and Marketing Manager for Taylor Wimpey España commented,

"Improvement of sales in the Spanish property market has primarily come from developments in coastal areas such as Andalucía, with buyer's request´s to live in close proximity to a beach coming top of the list followed closely by a golf course.

"In November 2012 alone we saw sales increase 144% compared to October. Here at Taylor Wimpey España we are able to meet the needs of customers not only because many of our properties are located in these popular areas but because we can deliver high quality properties for every budget."

According to the Kyero Spanish House Price Index H1 2012, Alicante and the Costa Blanca continue to be the most attractive areas for foreign buyers with Malaga following closely behind, generating almost 20% of enquiries.

The most popular properties enquired about were apartments (35%) followed by villas (30%) and in terms of size, both 3-bed properties and 2-bed properties were of equal appeal to foreign buyers, each with 32% of total enquiries.

Looking for a place in the Spanish sun?

Browse our listings of apartments, houses and other Spanish property:

http://spain.themovechannel.com/property/all

Commercial property investment in Europe up by 14pc

Ivan Radford — Fri, 07 Dec 2012 11:09:00 GMT

Commercial property investment Europe rose by 14 per cent in the third quarter of this year compared to the second quarter, CBRE has revealed.

The firm's latest report shows that commercial real estate investment totally €28.3 billion in the three months to September, almost exactly on a par with turnover in Q3 2011. Investment turnover has shown a strong seasonal effect over the last three years, with the final quarter significantly higher than the rest of the year; CBRE expects this to be repeated in 2013.

Investors continue to follow risk averse strategies favouring stronger economies, non-euro markets and prime property, adds CBRE. Analysis of yields shows that pricing has proven robust at the prime end of the market despite the current economic backdrop. This highlights the fierce competition among investors for core assets.

However, the substantial price differential between prime and non-prime property is creating opportunities elsewhere in the region for value-add investors.

The strongest growth in investment turnover was seen in the United Kingdom (UK), which accounted for approximately 42% of investment in Europe during Q3 2012, outshining its recent quarterly average of 35%. France and Germany also posted robust investment totals with investors attracted to the historically stable performance of the investment and occupational markets of key cities. The southern European economies fared less well and in Central and Eastern Europe (CEE), only in the relatively robust economy of Russia has the investment market remained strong.

Market activity in the retail sector continued to fall in Q3 2012, both in absolute terms and as a proportion of the market as a whole. However, prime retail assets, which have been aggressively sought following the economic downturn because of their perceived defensive qualities, have become increasingly scarce and this has reduced investment activity in the retail sector from the elevated levels seen in 2010 and the first half of 2011.

Jonathan Hull, Head of EMEA Capital Markets, CBRE, commented:

"Capital is mainly concentrated on property that is most bond-like in its characteristics - markets that are liquid and property that has the longest guaranteed income. As a result, the spread between prime and secondary is at an all-time high.

"This highly polarised market creates opportunities in the value-added segment of the market. The price differential between prime and anything that is not prime is substantial and therefore the reward for successfully repositioning an asset by active asset management - be that capital expenditure or re-negotiation of leases - can be similarly substantial."

There are currently a number of reasons preventing investors from making a wholesale return to secondary property. Firstly, investor interest is likely to return to secondary property in stages, starting with those located in countries with the strongest economies such as the UK, Germany and the Nordics. There has already been some evidence of this in these markets. For the majority of Europe, however, the latest GDP forecasts indicate negligible growth in 2013 and a slow recovery thereafter. A general pick-up in letting markets is therefore probably some years away.

Graham Barnes, Senior Director - Corporate Finance, CBRE, commented:

"We have seen the re-emergence of interest in more secondary assets in core markets effectively matching the evolution in measures of risk pricing in financial markets. But risk can also be accessed in the most prime assets in more secondary markets. Currently, interest is limited to the more opportunistic of players in the expectation of extreme pricing."

Five popular seaside property destinations in Spain

admin — Thu, 06 Dec 2012 14:35:00 GMT

Do you like to be beside the seaside? When it comes to Spanish property, most buyers do. But in a country such as Spain, famed for its sunny Costas and beach resorts, there are so many to choose from. Which beach is best? Which shoreline is a sure-fire investment?

TheMoveChannel.com profiles five of the most popular waterfront property destinations in Spain:

Nerja

Located on the Costa del Sol, Nerja has all the benefits of Spain's Mediterranean coast: hundreds of days of sunshine per year and long, golden beaches. On top of that, it boasts a unique history that has formed a series of caves, which promise residents a curious landscape to explore and investors a steady stream of tourists through the summer.

Browse TheMoveChannel.com's listings of property in Nerja

Playa de las Américas

On the southern coast of Tenerife lies this popular holiday resort. Built in the 1960s, Playa de Las Américas features the traditional holiday attractions from active bars to yellow beaches. The beaches are actually lighter than the rest of the island: it was imported due to Tenerife's darker volcanic sand. But while the resort may be purpose built, the view from the coast continues attract tourists each year.

Browse TheMoveChannel.com's listings of real estate in Playa de Las Americas

Province of Girona

Girona is popular with visitors thanks to its historical architecture and hot summers, although many tourists overlook the town in favour of other coastal destinations. But while the province is far from the sea, it is located on the confluence of four main rivers, giving holiday home buyers a beautiful landscape and an unspoilt lifestyle.

Browse TheMoveChannel.com's listings of Girona property

Fuengirola

Fuengirola is a popular town on the Costa del Sol and major tourist resort. The Mediterranean climate and hot summer temperatures draw tourists from around the world and persuade many people to stay - it is no coincidence that roughly a quarter of the homeowners in the are are all from overseas.

Browse TheMoveChannel.com's listings of property in Fuengirola

Fuerteventura

The second largest Canary Island after Tenerife, Fuerteventura is a hugely popular tourist destination in Spain. Promising residents an unrivalled 3,000 hours of sunshine a year, the island's Atlantic shorelines have turned it into a hotspot for surfers as well as second home buyers.

Browse TheMoveChannel.com's listings of property in Fuerteventura

Guide to buying luxury property in Ibiza

Ivan Radford — Thu, 06 Dec 2012 13:16:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

Partying is the main "p" word associated with the stunning island of Ibiza. But as well as the buzzing nightlife, busy beaches and thriving tourist industry, there is another, quieter side to the Balearics' most popular destination - one that for many discerning house hunters makes the main "p" word associated with Ibiza something else entirely: property.

Interested in moving to the Balearics? Here is Unique Living's guide to luxury property in Ibiza:

Vital Statistics

Average property price

€1.5m - €7.5m

Style of property

Villas

Who's buying

Celebrities

Background Information

Climate

The third largest of the Balearic Islands, Ibiza's Mediterranean climate sees the sun shine on its residents for way over 2,000 hours every year. Rainfall may occur outside of summer months, but the peak temperatures of 30°C and bright beaches all justify the island's reputation as the party capital of the world.

Lifestyle

Ibiza is renowned as the party capital of the world - and in many ways it still is. But the island's laidback lifestyle is just as important for those who live here: a peaceful place with everything from jaw-dropping coastlines and quiet countryside to busy towns and, of course, that lively nightlife.

Economy

One of the main playgrounds for the rich and famous, Ibiza's economy is far more resilient than mainland Spain. Homeowners who sell their property don't have to, which means real estateholds its value (depending on the location), underpinning the upmarket finance of the area.

Insider Knowledge

"If I were going to buy a luxury home in Spain, I would buy it in Ibiza. The quality is incredible - very modern. Plus the people who tend to buy the property in Ibiza are... how do you describe them? Cool. Successful DJs and wealthy footballers. They tend to be, just, cool. It's one of my favourite markets! "

For more on luxury property in Ibiza, visit www.UniqueLiving.com or click here.

Spain’s Balearic Islands emerge as Russian property hotspot

Ivan Radford — Thu, 06 Dec 2012 12:23:00 GMT

102,121 Russians travelled to Spain's Balearic Islands in the first nine months of 2012, according to new figures.

The islands are the destination of choice for Russian tourists second only to Catalonia, says Sotheby's International Realty, hailing them as the Russian property hotspot of Spain.

As often happens, says Sotheby's, the real estate market in the Balearics is following the tourism lead with many Russians making the transition from holidaymaker to holiday home owner. Indeed, Spain had already broken the barrier of one million Russian tourists by September this year and the country sits in third spot after Egypt and Thailand for Russians holidaying abroad. The Russian outbound tourism market has the highest growth rate in Europe. They also spend up to 50% more during their stay in comparison with other nationalities.

Property prices in the islands compare favourably to other destinations that have captured Russian hearts such as the South of France, Italian Riviera and Lake Como. Prices weren't as affected as heavily by the crisis as in mainland Spain as local authorities have been sufficiently farsighted to limit construction and protect the stunning landscape, this gives confidence for future investment potential. Local banks will lend up to 60 or 70% of the property's value to foreign purchasers and build quality beats, on the whole, that of the mainland hands down.

Accessibility from anywhere in Europe is another factor that appeals to the Russian business mindset - and of course the proposed new law that will offer residency permits to property buyers from outside of the EU is also alluring.

Anna Batizi, Head of International Sales for Moscow Sotheby's International Realty, comments: "Lifestyle is the single biggest draw for Russians when it comes to the Balearics. These are the perfect holiday Islands blessed with well over 300 days of sunshine a year, something that Moscow lacks to the most extreme extent. The capital, Palma de Mallorca, is vibrant and sophisticated, the Islands' infrastructure well developed and the hundreds of kilometres of coastline provide perfect boating opportunities. Add 26 golf courses, 60 or more vineyards and a superior standard of living and little wonder my Russian clients are expressing a keen interest."

Daniel Chavarria Waschke, Managing Director of Balearics Sotheby's International Realty, adds: "Our experience shows that well-to-do Russians have developed exquisite individual taste having travelled all over the world and owned various properties in both Moscow and abroad. They place importance on style as well as substance with an eye on value for money. Factors such as nearby private schools, resale potential and price square metre are driving the transactions we're involved in to the same degree as size, status and lavish fixtures and fittings once did. This is a new generation of Russians who are, in turn, also thinking of their next generation."

Looking for a place in the sun?

Browse our listings of property in the Balearic Islands:

http://www.themovechannel.com/property/spain/balearic_islands/

Costa del Sol property sales surge by 74pc

Ivan Radford — Mon, 03 Dec 2012 14:28:00 GMT

Photo credi: Kevin Poh

Sales of property in the Costa del Sol have surged by 74 per cent this year, according to one Spanish agent.

Spain's economy continues to struggle, but confidence in the Costa del Sol is rising, argues Taylor Wimpey España. The house builder has seen transactions jump by almost three quarters so far in 2012 compared to the same period last year.

A development in Marbella led the surge in sales, explains Sales Manager Marc Pritchard, with over 60 per cent of the luxury units snapped up in three months.

"Whilst the domestic market in Spain is indeed suffering, the second home market is back with vengeance," says Pritchard. "Overall we have seen a 17% increase in sales to date in 2012 compared to the same time last year but the 74% increase in sales in the Costa del Sol is remarkable."

"Taylor Wimpey España has been active in the Costa del Sol for 50 years now; we have experienced the boom days as well as the bubble bursting but we remain strong in our belief in the area as the perfect place to own a second home so much so in fact that we have just invested €15 million into our latest development Los Arqueros Beach in Marbella."

The mayor of Marbella, Angelos Muñoz, attended the development's launch, announcing that it would create "more than 160 jobs" in the next five years.

The increase in Costa del Sol sales follows Spain's recent proposal that foreign buyers spending over €160,000 on a property in Spain would automatically be granted permanent residency. While the scheme will not benefit British buyers, it is expected to appeal to Russians and other investors from further afield.

Indeed, the investor profile for Spanish property has widened in the past year. In 2012, Taylor Wimpey España says that it has sold properties to over 20 nationalities, including Russians, Saudi Arabians and Australians.

Scandinavian buyers are also stepping up demand significantly, with sales from the region soaring by 300 per cent, according to the firm. Denmark, too, has seen purchases climb by 150 per cent compared to last year.

Marc Pritchard adds: "No longer is Spain and the Costa del Sol in particular the preserve of the British second home owner. With the fall of the euro and the reduction of VAT to 4% until the end of 2012, Spanish property has become much more affordable, attracting buyers from all corners of the world."

With the end of the year approaching, sales are expected to keep on rising as buyers rush to beat the tax deadline. Spanish notaries predict "a late flurry" of transactions, reports Spanish Property Insight, with mortgage tax relief set to expire on Monday 31^st December along with a VAT rise back to 10 per cent.

Feeling confident about Costa del Sol?

Browse our listings of coastal apartments, traditional townhouses and other Costa del Sol property:

http://spain.themovechannel.com/costadelsol/

Tourist spending in Spain on the up

Ivan Radford — Mon, 03 Dec 2012 12:11:00 GMT

The amount spent by tourists visiting Spain increased in October, according to new figures.

International visitors spent 49,866 million euros in the first 10 months of 2012, the Ministry of Industry, Energy and Tourism's Egator survey revealed - an increase of 6.4 per cent compared to October last year and the sixth month of increases in a row, reports Kyero.

The average amount spent per tourist jumped by 3.2 per cent to 960 euros, with Brits providing the main bulk of the income. Tourists from the UK accounted for 10,204 million euros of the total - an increase of 7.7 per cent - while German spending rose by 5.4 per cent to reach 8,152 million euros.

Catalonia is the region that received the highest amount of tourist spending, accounting for 22.9 per cent of the total, followed by the Balearic Islands, where spending rose by 6.4 per cent.

Looking to spend money in Spain?

Browse our listings of Spanish property:

http://spain.themovechannel.com/property/all

Russian visitors to Spain up by 60pc

Ivan Radford — Fri, 30 Nov 2012 12:20:00 GMT

The number of Russian visitors to Spain surged by over 60 per cent in October, according to new figures.

61.3 per cent more tourists from Russia arrived in Spain last month, continuing a trend that has seen more Russians entering the Spanish property market in recent months.

Indeed, from the start of 2012, visitors from Russia have jumped by 41.3 per cent, pushing Spain's overall tourism figures up by 3.1 per cent since the same period in 2011. A total of 52.1 million foreign tourists arrived in the country during the first ten months of the year.

But while Russian interest continues to climb, demand from the traditional source countries has dropped. Italian visitors fell by 26.4 per cent while UK tourists slipped by 3.4 per cent.

Hotels received 6.1 per cent fewer visitors in October compared to last year, marking 18 months of declines in a row, as tourists chose to stay in alternative forms of accommodation.

Ready to benefit from the tourist boom?

Browse our listings of apartments, houses and other buy-to-let property in Spain:

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Low crime in Ibiza pushes property demand up

Ivan Radford — Fri, 30 Nov 2012 11:31:00 GMT

The low crime rate in Ibiza is pushing demand for property up, according to agents.

The gated community of Vista Alegre on Ibiza's south coast hasn't suffered a single burglary in the last five years - and word has got round. Wealthy buyers are snapping up the multi-million euro homes with Ibiza Sotheby's International Realty reporting no less than nine sales in 2011.

Managing Director of Balearics Sotheby's International Realty, Daniel Chavarria Waschke, says, "Whether the threat of burglary is real or perceived, affluent house hunters place great importance on security. Since local developer Fernando Corominas became president of Vista Alegre in 2007, he has implemented a wave of safety measures including automatic car registration plate recognition for each vehicle arriving at and leaving the development. Add privacy, generous plot sizes and phenomenal sea views across to the Island of Formentera and Vista Alegre has become the place to live in Ibiza."

Established in 1968, development at Vista Alegre stepped up a gear from 2000 onwards. Of a total 210 plots, 130 have been built upon and 18 villas are in the throes of construction right now. Plot sizes range from 1,000m² to in excess of 11,000m², with a permissible build of approximately 40%, and prices vary from 450 euros/m² to 1,200 euros/m² for prime frontline land. A finished villa could go for anything between two million and 25 million euros but the prices do not put people off. To the contrary, German, Dutch, Belgian, Spanish, French, Swiss and British buyers have been looking this year including two Real Madrid footballers and one from FC Barcelona.

Corominas has many examples of his work on display at Vista Alegre, including four currently in build, and each sticks to his firm belief that all buildings should be integrated into the landscape. "Our most in-demand product right now is a very large frontline sea property but, however large, we try to conceal the home within the landscape," says Corominas. "We cover rooftops with grass and gardens, build stunning water cascades and prefer to use terracing to fit the contours rather than mass land movement. Each home also has a "green lung" at its heart, a courtyard of flora that opens to the sky."

Looking for a safe new home?

Browse our listings of property in Ibiza:

http://spain.themovechannel.com/property/balearic_islands/ibiza/

Heathrow opens flights to Mallorca for first time in 3 years

Ivan Radford — Wed, 28 Nov 2012 10:48:00 GMT

A new generation budget Spanish airline, Vueling, will commence new daily flights from Lond on Heathrow to Palma Mallorca with the introduction of its summer timetable on 23 March 2013.

This decision to fly to Palma reintroduces a popular route that has not been served from London's No. 1 airport since 2009.

The fantastic new route will offer a total of 75,600 seats, which are now on sale online with competitive lead in fares. Vueling will utilise one of its Airbus A320 aircraft, operating from Heathrow Terminal 3, where it currently operates daily flights to La Coruna and Bilbao.

All Vueling passengers will enjoy free allocated seating and will have access to Vueling's new concept, Business Excellence, featuring differentiated cabin seats, access to VIP lounges, priority boarding, ergonomic head rests, snacks and refreshments on board, extra loyalty points and total flexibility to appeal to the 40 per cent of travellers who will use the route for business.

The island of Mallorca, the largest of Spain's Balearic Islands, located in the Mediterranean Sea, is one of Europe's top tourist destinations, renowned for its beautiful beaches, fabulous fiestas and gastronomic delights.

The island has something for everyone - from the mountains in the north to the fine, pale sands of secluded coves and from the ancient villages to the modernism of the island's capital, Palma. The old and new have developed side by side to create a matchless mixture unique to Mallorca.

Spain is still considered one of the most reliable and established markets for property buyers with Mallorca remaining one of the most popular destinations.

The Balearic islands' economy still remains buoyant thanks to a thriving tourist industry which, despite a few variations in the past year, has hardly felt the burn. As a result, the latest census from the Spanish National Statistics Institute has identified that there are officially 23,773 Britons now living on the island with foreigners now representing 21.6 per cent of the population - the highest concentration of overseas residents in Spain.

Although Mallorca is often deemed much more of an 'aspirational destination' attracting affluent expats, Taylor Wimpey España argues that quality homes and affordable prices can go hand in hand.

Marc Pritchard, Sales and Marketing Manager, comments:

"Mallorca has always been a firm favourite - it's easy to get too, offers sunny days and the most beautiful scenery. To highlight its popularity Lowcostholidays.com has recently identified that Mallorca is the number one destination for people over the Jubilee week, registering a 60 per cent increase on 2011 and Palma de Mallorca voted one of Spain's Top 10 Destinations in Trip Advisor's Traveller's Choice awards 2012."

Flying away to Mallorca this year?

Browse our listings of houses, apartments and other Mallorca property:

http://spain.themovechannel.com/property/balearic_islands/mallorca/

Guide to buying luxury property in Benahavis

Ivan Radford — Tue, 27 Nov 2012 12:49:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

It may sound strange, but Costa del Sol's best-kept secret is not on the coast at all. Nestled in the nearby hills, Benahavis is a beautiful town tucked away from the busy tourist beaches. The sand is not far, but for golf enthusiasts and food lovers, this secluded cultural haven is the perfect place for a prime holiday home.

Got your attention? Read on to find out all you need to know to buy luxury property in Benehavis:

Vital Statistics

Average property price

€1m +

Style of property

Villas

Who's buying?

Scandinavians

Brits

Background Information

Climate

Nestled among the mountains, Benahavis boasts both the nearby shore of the Costa del Sol as well as natural hilltop surroundings. Together, they create a warm climate with temperatures that reach 30C during summer and rarely drop below the mid-teens, lots of sunshine and a startlingly low amount of rainfall.

Lifestyle

The breathtaking scenery gives Benahavis a romantic, secluded air that intoxicates many. Famous restaurants and world-class golf courses make this the peak of luxurious living, located in the shadow of the exclusive La Zagaleta mansion club. Paradise is a strong word, but Benehavis is as close as it gets.

Economy

Thanks to the wealth and prestige of its local residents and foreign visitors, Benahavis is one of the unique areas of Spain that have withstood the global financial crisis to a great extent - and its legendary range of high-class cuisine continues to attract more hungry buyers every year.

Insider Knowledge

"Apartments? Not so much in this area! Benehavis is where you've got La Zagaleta, which is one of the top, top resorts - real prestige. While in Estepona, bargains can go as low as €400k, in Behehavis villas start from around €1 million. If you go to La Zagaleta, you can be looking at upwards at €3 million.

"It is more costly for buyers compared to other parts of the Costa del Sol, but if the right deal comes up, people come crawling..."

Spanish property sales up by 40pc

Ivan Radford — Fri, 23 Nov 2012 11:11:00 GMT

According to the National Institute of Statistics, there has been a further rise in the number of people taking advantage of bargain priced properties across Spain throughout September of this year, with sales rising for the second consecutive month.

The figures reveal that there were 22,648 residential property sales in September, up 3% on the corresponding month last year with enquiry data from leading house builder, Taylor Wimpey España revealing that proximity to beaches and golf courses the main sales appeal.

Marc Pritchard, Sales and Marketing Manager at Taylor Wimpey España explains,

"Despite turbulence in the domestic property sector, demand for second or holiday homes in Spain from international buyers remains high. Half of our British buyers wish to own a property which is in close proximity to a beach, followed closely by almost 40% that aspire to live near a golf course reinforcing the importance of prime location to today's buyers."

Indeed, a recent study by the Spanish Ministry of Tourism showed that golf contributed 4.5% of tourist revenues to the Andalucía region alone, with a surge of 427,000 tourists visiting the area and its world class courses last year.

The Costa del Sol is quite simply a golfer's paradise; there are some 72 golf resorts and courses in Andalucía which rank in the top 10 in Europe. Add to that a fantastic all year round climate and easy access from the UK and you are most definitely in golfing heaven.

For example La Floresta de la Mairena is a new residential development from Taylor Wimpey España located near the charming village of Elviria and its golden beach, very close to Marbella and Malaga. Set in beautiful surroundings which have been declared a natural biosphere reserve by UNESCO, this development benefits from stunning views towards the oak and pine forest as well as towards the sea.

Five Spanish property spots ideal for expats

admin — Thu, 22 Nov 2012 14:12:00 GMT

You know how it is. You want to move abroad but you're worried that you won't know anyone there. Maybe there won't be enough international schools or the English-language community is several miles away down the coast.

Well, if you're a Brit and you're braving a new life overseas in Spain, here are five property spots you that ideal for expats:

Benidorm

Spanish property hunters looking for quiet traditional villages with no tourists, this is not the place for you. Benidorm is a lively place with buzzing nightlife, thriving beaches and enough developments to satisfy even the hungriest of investors. The combination of bustling metropolis, attractions and restaurants make Benidorm a popular hotspot for international buyers. With one of the biggest British populations in Spain, expats are guaranteed never to feel lonely.

For more information on property in Benidorm, click here

Costa del Sol East

Divided in two by Malaga, Costa del Sol East is perhaps the less popular of the two halves. But while the West has Marbella and Torremolinos, the Eastern coast is equally pretty, with stunning beaches bringing in Spanish tourists during the summer, while Nerja's famous cave attracts holiday home hunters from other countries such as Germany.

For more information on property in Costa del Sol East, click here

Costa Calida

Literally translated as the "warm coast", Costa Calida certainly lives up to its name. The micro-climate along the Murcia coast promises high temperatures all year round for residents, a large number of whom head to the area for the world class golf courses. With the gorgeous weather and burning demand for resorts in La Manga, perhaps the place needs renaming to the "boiling hot coast".

For more information on Costa Calida property, click here

Moraira

A tourist resort just to North of Alicante, Moraira's bustling port and picturesque coastline see thousands of visitors flock to the area during the summer. The town's strict planning laws, which prohibit any high-rise buildings, ensure the former fishing village stays as beautiful and unspoilt as ever. No wonder so many expats choose to live here all year round.

For more information on property in Moraira, click here

Province of Tarragona

Olive groves, orange trees and beautiful valleys of palm trees are what you can expect from the Tarragona province. This tucked away coastal area is as secluded as it as stunning, with vineyards, old castles and unspoilt beaches stretching into the horizon. But buyers of property are never far from tourists and rental income: it is located only 30 minutes on the train from Barcelona.

For more information on property in Tarragona, click here

Guide to buying luxury property in Estepona

Ivan Radford — Thu, 22 Nov 2012 12:57:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

The Costa del Sol is well-known for its booming tourism industry, with people from all over the world lining up to stretch out on the sunny beaches. But these are not just any people: the Costa del Sol is also famous for the calibre of people who line up to enjoy its sandy coast. A playground for the rich and famous, towns such as Marbella rival Cannes in the jet-setting stakes.

But what if you don't want to move to Marbella? Then maybe you should stroll down the coast to Estepona. It may not be as famous, but it is every bit as classy.

Here is everything you need to know about buying luxury property in Estepona:

Vital Statistics

Average property price

€400k +

Style of property

Villas

Who's buying?

Scandinavians

Brits

Background Information

Climate

With beaches that stretch along 21km of coastline, Estepona's reputation as a top holiday destination and resort is cemented by its high levels of sunshine and natural environment. It is no wonder, then, that it was the first choice, ahead of Paris, for Europe's Disneyland theme park.

Lifestyle

Designer stores and traditional restaurants compliment Estepona's range of golf clubs and Blue Flag beaches. The resulting lifestyle, which ranges from fishing ports to a safari park, is among Europe's most prestigious, a status that is enhanced by its lack of tourist-driven nightlife.

Economy

Like many luxury destinations, Estepona's reputation attracts an increasing number of visitors, from both Spain and abroad. As a result, the economy has become more dependent upon tourism, but also benefits from the foreign residents who bring their own lifestyle and income to the area.

Insider Knowledge

"As you go towards Estepona along the coast it gets a bit cheaper... It's a more traditional place, with very lovely, long beaches. They're the best beaches in the Costa del Sol, if you ask me! They're not showy, either, if you know what I mean. You've got the old town of Estepona as well - that's probably my favourite area in Spain. The port is a bit more commercialised, with some decent nightclubs, but you can get great tapas in the old town."

"If you want something in an established area, renowned, good locations, presuming it's not a distressed sale, it's around a million upwards."

Agents react to new Spanish residency laws

Ivan Radford — Thu, 22 Nov 2012 10:50:00 GMT

Earlier this week, the Spanish government announced plans to grant permanent residence permits to non-EU citizens who invest in Spanish property worth over €160,000. The Government are still reviewing how exactly the changes will be implemented but it is believed that Spanish Immigration Law will be amended by the end of the year, in line with similar measures in Portugal.

The measures are aimed at reactivating foreign demand and reducing Spain's huge surplus of housing stock. They will be focused initially at the Russian and Asian markets whose interest in Spanish property has been steadily rising. The proposal is certain to attract great interest from these and many other emerging market countries as Spanish residency is subject to the Schengen agreement, which allows citizens to move freely around the 25-nation Schengen zone.

The move has been welcomed by estate agents at Lucas Fox.

"We have been pushing for this law change for the last 12 months and are delighted to hear that it could soon be in force" Director Alexander Vaughan told TheMoveChannel.com "We feel confident that these measures will go a long way to reactivate the sale of the Spanish property market on the Costas and help to clear the stock of properties."

Vaughan commented: "We are primarily focused on international clients investing in Spain and over the last few years have invested a lot in strengthening our position within emerging markets such as Russia and China. Also we are currently in discussions with Spanish banks to help them sell their properties to the international market. As a result we are well placed to assist those looking to take advantage of these proposed legislative changes. Our dedicated international team have considerable experience in the Spanish market and understand the potential difficulties facing foreign investors and how we can overcome them."

Investment Watch: Dominican deal rivals Spanish resorts

Ivan Radford — Wed, 21 Nov 2012 15:02:00 GMT

One Dominican deal took on several Spanish resorts last month, reveals TheMoveChannel.com's latest Investment Watch, as a beach development in Puerto Plata received almost as many enquiries as apartments in Murcia's La Manga.

Spain remains the top property destination on the site, confirms the monthly report, which proves that apartments in La Manga are irresistible to buyers: the Las Lomas Village resort was the most popular listing in October 2012 for the third month in a row and has been a firm member of TheMoveChannel.com's top 10 listings since June.

But while Spain dominated the chart, accounting for three of the top 10, last month introduced a surprise contender: the Dominican Republic. One-bed condos in a beachfront complex in Puerto Plata attracted the second highest number of enquiries on the site in October - the first time the country has ever appeared in the Investment Watch rankings.

The resort, located by the tourist magnet of Playa Dorada, combined holiday home appeal with 9 per cent guaranteed rental return to attract buyers' attention, a package that competed head-to-head with Las Lomas' fully-managed flats. Indeed, even with Spain's discounted price tags, up to 50 per cent down on 2007 levels, Puerto Plata's Palm View Resort was £1,003 cheaper.

Was it just a one-hit wonder?

Simon Peck of Best Overseas Property, who are handling the Dominican Republic property, explains its appeal:

"The project continues to sell very well as it is unique for a number of reasons. Firstly, there is genuine 100% funding. Only £6,995 capital is required as a contribution to the closing costs. Secondly, the resort is already built so completion of purchases is generally around 2 months. Investors do not have to wait for a couple of years as they do on most similar resorts. The resort has enjoyed 73% occupancy over the last 12 months and is already 95% booked for this winter's peak season. The Dominican Republic accounts for one third of all tourism to The Caribbean. Investors from over 20 countries are currently proceeding as the 100% funding is available to all nationalities, subject to status, and the investment with guaranteed returns is cash flow positive from day one."

TheMoveChannel.com Director Dan Johnson adds: "It's no coincidence that both of October's big players are offering 100 per cent funding. The battle of the resorts may rage on, but it proves that in this cash-strapped investment climate, the right finance package can make all the difference."

The top 10 investment properties for October 2012 are as follows:

Rank	Property	Country	Partner
1	Las Lomas Village, La Manga	Spain	UK Murcia Investment
2	Beachfront Resort, 100% finance	Dominican Republic	Best Overseas Property Investments
3	Tenanted 2 Bed Townhouse, Ohio	USA	USA property Bonds
4	2 Bed Apartment, La Manga	Spain	CasaCalida Property Group
5	Student Housing, Brighton	UK	Property Frontiers
6	Building Plot, 15% Discount	Brazil	UK Murcia Investment
7	Stem Cell Technology Investment	UK	Buy Association - Grace Century EMR
8	2 Bed Home, Direct from Bank	Spain	Connells
9	Building Plot, Florida	USA	Select Resorts Ltd
10	Bay Central Development, Dubai Marina	UAE

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 24 Jack's Place, Corbet Place, Spitalfields, London, E1 6NN.

Russian visitors to Spain almost double in 2012

Ivan Radford — Wed, 21 Nov 2012 12:09:00 GMT

The number of Russian visitors heading to Spain has almost doubled in 2012, according to new reports.

The millionth tourist from Russia arrived in Malaga on Wednesday 31^st October, reports The Moscow Times, as investors from the country continue to step up their activity in the Spanish property market.

Indeed, while Russians are notorious for picking up luxury pads in other countries, the profile of incoming buyers is becoming even more diverse.

"It started off as really wealthy Russians coming in [to buy property on the Spanish coasts]," Barbara Wood, a Property Finders associate in Andalusia told the paper. "Now a much wider range [of buyers] is coming."

Spain is an established favourite for Russian buyers now, thanks to the warm climate and low prices, which make real estate more affordable than other destinations such as London.

And that affordability has motivated the middle-class investors to start buying.

"These buyers are initially more economical," explains Wood. "They take out mortgages and may rent out their apartments in peak summer months."

property in Andalusia and Catalonia are the most popular among the new crowd - and the locals are responding with open arms.

"If you go to any restaurant now in Costa Blanca most of the menus have Russian translations," added Marc Pritchard, sales and marketing manager at the Taylor Wimpey.

The landmark tourist numbers arrive just as the Spanish government announces a new legislation that will offer permanent residency to any buyer who spends more than €160,000 on Spanish property - a move that is expected to entice further Russian buyers into the market.

"The fact that the Russian tourist market has doubled is a healthy sign that Russian buyers are going to increase greatly," concluded Wood.

Yours for €160,000: permanent residency in Spain

Ivan Radford — Tue, 20 Nov 2012 14:54:00 GMT

Photo credit: Pepe Rodmon

Buy a home for €160,000 and you can get permanent residency for free, Spain has announced.

Faced with an estimated inventory of 1 million unsold homes, the government has proposed a radical change to the current laws to attract more buyers in search of a place in the Spanish sun.

The plans, announced by Secretary of Trade Jaime Garcia-Legaz yesterday, are expected to be approved in a matter of weeks, as the country continues its battle against huge public debt. The new legislation will offer foreigners residency permits if they buy property in Spain worth more than €160,000.

Spain "needs to sell these homes" Prime Minister Mariano Rajoy told the Associated Press, adding that he expected growth to return in 2013 and 2014. "I'm convinced that the worst is over," he said.

The move follows similar schemes introduced in both Portugal and Ireland earlier this year, and the USA last year. But while Spain's eurozone comrades charged €400,000 and €500,000 respectively for their free visas, Spain has set the bar lower.

The affordable price tag, which could cover everything from a two-bed apartment in Andalucia to even a 6 bed villa in Murcia, will make it even easier for non-EU investors to acquire a European base, allowing them to move around the 26-nation Schengen zone freely, including France, Germany and the Netherlands.

Many experts predict that the measures will principally target Chinese and Russian buyers, who are increasingly active in the Spanish real estate market. Indeed, investors from Russia account for 8 per cent of buyers in the Costa del Sol, according to The Property Finder, while Chinese investors account for 4 per cent. At the same time, the perennial favourites of Spanish property, the Brits, have reduced their activity by 4 per cent since the market peak of 2008.

Barbara Wood of The Property Finders, a property search agency in Andalucía, comments: "Seems like a smart move by the Spanish government to make the entry price point €160,000 thereby attracting a wider market, although potential buyers must remember that purchase costs are high in Spain so even at this base level they will need think more in terms of having €200,000 available, to cover taxes, fees and furniture.

"Buyers also need to hang onto the thought that a lot of the unsold stock in Spain is unsold precisely because its poorly located and may not be in a place that will appeal to overseas buyers.

On the positive side, with prices back to 2002 levels and pressure on developers and banks squeezing prices through 2013, there are real opportunities for quality property in prime coastal and inland locations for both investors and life-style purchasers alike."

But the law could see Spain targeting a new nationality of investor altogether, says Steve Long of CasaCalida Properties. Speaking exclusively to TheMoveChannel.com, Steve says that Spain should actually be targeting buyers from even further afield:

"The global press are saying this initiative is aimed at the Russian and Chinese buyer market which it may well be. However, there are sure to be many Indian and Arab buyers who will be eager to take advantage of this once in a lifetime opportunity to obtain EU residence.

"With properties in Spain for sale at rock bottom prices and banks eager to generate new money, this type of incentive should prove rewarding for all parties."

He adds: "We also offer free legal consultation to our registered interested parties."

Looking to make your home in Spain?

Browse our listings of houses, apartments and other Spanish property:

http://spain.themovechannel.com/property/all

Guide to buying luxury property in Sotogrande

admin — Tue, 20 Nov 2012 13:48:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

From its world-class marina to the famous golfing facilities, Sotogrande is the ideal destination for sports fans and boat lovers alike.

But even once you've been won over by the warm Mediterranean climate and stunning coastline, there are still things you should find out before moving to the Costa del Sol's finest town.

Here is all the information you could ever need about buying luxury property in Sotogrande:

Vital Statistics

Average property price

€700k+

Style of Property

Villas

Who's buying?

Scandinavians

Brits

Background Information

Climate

Sotogrande shares the Costa del Sol's Mediterranean climate, with temperatures in the area falling to 8°C during the winter and rising to 30°C during the summer. November to February may see rain but sunshine is still common, making golf a year-round activity for residents and tourists alike.

Lifestyle

Andalusia's largest privately-owned development, Sotogrande boasts beautiful landscapes, five golf courses and an expansive nature reserve. This mix of sports, luxury marina and a view of the Rock of Gibraltar, has brought residents from across the world, including British PM Tony Blair.

Economy

Once the home of the most expensive pieces of property in Spain, Sotogrande's prestigious inhabitants have created a wealthy economy in the area that is capable of both retaining high real estate values and withstanding the wider Eurozone financial turmoil.

Insider Knowledge

"Sotogrande is nearer Gibraltar, it's got its own community. It's a marina and the villas are fantastic. A lot of people are attracted to the golf: you've got the big courses like Valderrama. The Ryder Cup was held there, for example, many years ago. Seve Ballesteros won!

"There are still many, many Brits buying property in Sotogrande, along with a lot of Scandinavian buyers, but there are very different people to the ones who buy in the French Riviera. They want to be near amenities. You can buy places here where you don't need a car to get around. It's a marriage of convenience."

Investments Explained: Residential property

admin — Tue, 20 Nov 2012 13:15:00 GMT

Investments Explained: TheMoveChannel.com breaks down investment opportunities into bite-sized chunks every week.

In an ever-fluctuating global economic, it is important to invest in reliable assets, from financial products or stocks to commercial property and even alternative investments. But sometimes, after all that investing, you just need somewhere to put your head down and rest. The answer? Residential property.

Like all property investment opportunities, residential real estate comes in several shapes and sizes. What's what and how do you pick between them?

Here is TheMoveChannel.com's guide to residential property:

Apartment

Also known as a flat in the UK, Hong Kong and other countries, an apartment is a residential unit that occupies a self-contained space within a larger building. Apartments can contain several bedrooms, or consist of one single room which combines the kitchen, living room and dining room. These are known as studio apartments. Apartments can also span more than one floor within a building. These are called maisonettes.

Browse TheMoveChannel.com's listings of apartments for sale by clicking this way

House

A house is a residential building designed to house human residents that spans multiple stories. Designs vary significantly between homes, but unlike studio apartments, rooms are always separated into distinct spaces. A house can be rented or purchased by an investor, while in many countries owning a home is a sign of personal wealth; in the US, for example, buying a house is a key part of the American Dream.

For more information on TheMoveChannel.com's range of houses for sale, click here

Mobile homes

Mobile homes are portable properties that allow owners a greater degree of geographical flexibility. The property may be fixed, as in a park home, and occupy a plot within a wider community, or attached to an engine to form a motor home or caravan. As well as providing a more flexible lifestyle, mobile homes are also often cheaper and made out of a prefabricated materials.

Click here to browse TheMoveChannel.com's listings of mobile homes

New home

A new home is exactly what it says on the tin. Without factors such as previous owners, possible historical damage or other legal complications, new build properties can be simpler to purchase and cheaper to run thanks to energy efficient appliances and eco-friendly designs. As a result, they are often popular among first time buyers.

Interested in a new home? Click here to browse TheMoveChannel.com's listings

Prestige property

For those house hunters after something classier than your average home, a prestige property is the answer. From former castles and royal palaces to expansive country estates, a prestige home is a luxury property that guarantees both comfort and privacy. And in the case of a private island, a unique view as well.

Browse TheMoveChannel.com's listings of prestige property by heading this way

Unique property

Ever wanted to live in a windmill? Fancy putting your feet up in a farmhouse? How about owning your very own tower? From the peculiar and rare to the downright weird, unique properties are a wonderful way for house hunters to express their personality or pick up a special piece of history. Whatever your preference, you are guaranteed to own something that is one of a kind.

For more information on TheMoveChannel.com's range of unique property for sale, click here

Watercraft

A watercraft home gives you a taste of life on the open sea, whether it is a houseboat to dock in a local canal or a more extravagant vessel to use as a holiday home. Depending on how you use them, watercraft can incur additional charges, such as docking fees, but who doesn't like the idea of floating away overnight?

Click here to browse TheMoveChannel.com's listings of watercraft homes

How to create a good property listing

admin — Mon, 19 Nov 2012 13:49:00 GMT

More advice on selling property online from SellMyProperty.org, the leading international For Sale By Owner advertising service.

This week, Sell My Property turns its attention to the most essential step in selling your house: creating a listing. Once you've signed up with Sell My Property and you log in for the first time, you are automatically taken through to the "Create a Listing" page.

What goes into a good property listing? Which details should you leave out?

Here are seven simple steps to creating a good property listing:

1. Give it a name

We don't mean "Brian" or "Audrey". This is the part that will grab people's attention or turn them away, so include all the important stuff here. How many bedrooms? Is it near the beach? Can investors expect a high rental yield? Combine them into a snappy name, e.g. "2 bed flat on Murcia coast. Refurbished. 7% return", and you're good to go.

2. Add a reference

Don't worry: this one is just for you, so you don't have to come with anything catchy. Designed for sellers with more than one property to advertise, this field helps you tell the difference between your multiple listings when looking at the "Manage My Listings" page.

You cannot use any special symbols here, but any combination of alpha-numerical characters is fine. Perhaps "Brian" or "Audrey".

3. Mark it with an "X"

No one wants to buy a house if they don't know where it is, which is why Sell My Property always includes a map as part of the listing (see a listing on TheMoveChannel.com for an example). Using our location finder is an easy way to pinpoint your property's exact position, or if you prefer, you can use another maps service, for example Google Maps, and copy the coordinates into your listing.

4. Write a brief description

Consider this an expanded version of your property's name, including all the vital statistics and unique selling points in a few sentences. Keep it simple and to-the-point to capture buyers' attentions as quickly as possible.

5. Insert images

Pictures are worth a thousand words, so make sure you make the most of them. With our basic listing package, you can upload up to 10 large images of your property.

Read our detailed tips on how to take a good property listing photo, then pick one of them to be the main listing picture - an exterior shot usually works best. The other photos are then displayed in the order you upload them, so take care to add the best exterior images first before moving on to interior images of rooms and, eventually, any shots of the surrounding area or a floor plan.

6. Add a full description

This is where you can really sell your property, so make sure you read our guide on how to write a listing description first. Once you've got something written, go to the "Further Information" tab to add it to your listing.

7. Tag it with keywords

Keywords are what will help people find your property. Swimming pool, two bedrooms, Murcia, rental income; those are the kind of words you want to be including. But we've saved you the time and hassle or writing them out manually. Simply click on the "Autocomplete" button and we'll generate the keywords using your description - another reason to take extra care when writing it.

And it's as easy as that. Once you've finished all seven steps, hit the "Save" button and congratulations! Your property listing is live - and you are officially selling your home.

Barcelona and Madrid: better yields than London?

Ivan Radford — Mon, 19 Nov 2012 12:48:00 GMT

Photo credit: Dale Musselman

Barcelona and Madrid now general better rental yields than both London and Paris, according to a new study.

Falling property prices have given a boost to returns for buy-to-let investors in Spain, Iberian portal Idealista.com reveals, pushing gross yields up to 4.1 per cent in Barcelona and 4 per cent in Madrid - higher than London's 3.4 per cent and the 3 per cent attainable in Paris,

But even higher yields can be found outside the big cities, with property in Lleida, Catalonia, generating 5.9 per cent, closely followed by Las Palms de Gran Canaria (4.7 per cent) and Alicante (4.4 per cent).

"We shall have to wait and see if the property portfolios offered by the Bad Bank and other financial institutions attract international investors," Fernando Encinar, head of research at Idealista told Spanish Property Insight.

Looking for high rental yields?

Browse our listings of Spanish property:

http://spain.themovechannel.com/property/all

Ship or Sell When Moving Abroad?

admin — Fri, 16 Nov 2012 16:25:00 GMT

One of the most important questions and considerations when you're moving abroad is whether to take your belongings with you. Families can easily have a whole house full of furniture before the move, and it's often difficult to work out whether it's cheaper to sell everything, and buy new items when you get there, or ship everything over.

One of the main points is that, on average, it costs around £3500 to move a house's contents to Australia. The price can vary quite a lot, so this is only a rough guide, but it does give a basis to work on. You can usually work out approximately how much you might make by selling all of your belongings buy looking at online auction sites. Again, using the internet you can find out how much it will cost to buy all of the things you need when you get to the destination. Compare this information to an accurate shipping quote, and you shouldn't have too much trouble deciding which the cheaper option is. Usually, selling the contents of your house, and buying all new stuff saves money, but the choice isn't that straightforward.

The issue is that it's far more work to try to sell and buy everything than it is to use an international removals company. It's very time consuming to list everything you've got online or in a newspaper, and you don't know that you'll be able to sell everything, especially if your house is large. The other problem is arriving in your new home. There are many essentials and items of furniture that you'll have to buy almost immediately, which adds to the stress of moving.

The only real way to decide which option is best is to get a quote for your removal, and then accurately work out prices against the hassle involved. Of course, you may also have large items of sentimental value, which cannot be sold. In these cases, you'll have to use a removals company. Shipit.co.uk specialise in international removals, and have expert packers to make sure that delicate goods are safe and secure.

Removals are usually the easiest option, and offer a much smoother transition from one country to another. Unless you have a small home, and can do without some furniture and appliances temporarily, it's usually best to have your belongings shipped.

One-quarter of British buyers head to France

Ivan Radford — Fri, 16 Nov 2012 11:08:00 GMT

France is the most popular property destination in the world for British buyers, according to new research, with almost one-quarter hopping across the Channel.

23 per cent of potential buyers turn to France for property, the HiFX Property Hotspots Report reveals, as France's recent property tax hikes and the ongoing Eurozone crisis do little to deter investors with many still keen to pick up a holiday home bargain abroad.

"France remains a safe bet for Brits," comments Mark Bodega, Director at HiFX. "It goes without saying that the sun and lifestyle are a big pull but buyers can now get better value for their money and take advantage of the weakening euro."

Spain is a close second favourite for buyers, with 19 per cent hoping to purchase a property there. But the allure of Spanish real estate falls down the rankings for experienced property owners, with just 9 per cent saying they would buy there if they were considering purchasing a second property.

Mark Bodega added: "Spain is still popular with Brits who are hoping to take advantage of lower property prices. The average property price in the country is down almost 13 per cent in the last year alone. In years gone by bargain-hunters would focus inland, particularly looking for rundown properties that needed some work. As inland prices have fallen the most since the property crash this is till true, however prices have fallen on the coast dramatically as well giving bargain hunters plenty of choice."

The HiFX Property Hotspots report further revealed that 35 per cent of UK adults surveyed said they are looking to buy a property abroad within the next 1 - 2 years, whilst 30 per cent are even looking to purchase abroad within the next six months. Savvy Brits will largely be funding their property purchase through savings, with 43 per cent stating this was how they planned to buy abroad, whilst almost a quarter 24 per cent said they plan to sell their UK home to buy abroad.

Guide to buying luxury property in Marbella

admin — Thu, 15 Nov 2012 14:13:00 GMT

Luxury real estate experts Unique Living offer tips and advice on the world's top high-end real estate hotspots.

World-class hotels. Luxury cruise ships. Top-of-the-range sports cars. Marbella is famous all around the world as a playground for the rich and famous; the Costa del Sol's answer to Cannes.

Planning to share the stunning seaside views with the crème of celebrities and aristocrats?

Here is everything you need to know about buying luxury property in Marbella:

Vital Statistics

Average property price

€600k+

Style of Property

Villas

Who's buying?

Scandinavians

Brits

Background Information

Climate

Positioned between the coast and the Sierra Blanca mountains, Marbella's mild climate is protected from harsh winters and exposed to refreshing spring winds. Living up to the Costa Del Sol's promise, it offers plenty of sunshine for local residents - 320 days, to be exact - with an average temperature of 19°C all year round.

Lifestyle

Golf, beach, hotels. Marbella rivals Cannes for the ultimate jet set reputation. But it's the sumptuous marinas and world-class restaurants that make it such a prestigious place to live. Healthy outdoor activities are on-hand for families, while international, English-speaking schools and businesses guarantee an exceptional quality of life.

Economy

Boasting many of Malaga's businesses, Marbella is a hub of production. Service industries rely on tourists but with one of the region's highest levels of disposable income, Marbella is not about where money comes from but where it goes. Private clinics, schools and sports are the answer - all part of the town's signature luxury lifestyle.

Insider Knowledge

"If you're talking luxury areas, Marbella still stands out head and shoulders in the Costa del Sol. In Marbella, there's Porta Banus, where people like to visit for a drink. Go there and you'll spot people driving through the high street in their Lambourghinis, but there's also the Golden Mile to catch your eye. "

Alternative Investments Explained: Precious Metals

admin — Thu, 15 Nov 2012 14:01:00 GMT

Alternative Investments Explained: from bamboo to precious metals, AlternativeMarketplace.co.uk breaks down the alternative products vying for your cash and assesses which assets are worth taking the risk.

This week, precious metals go under the microscope.

What makes a metal precious? Several things. Firstly, the chemistry: precious metals are less reactive than most elements. Secondly, their appearance: due to their chemical make-up, precious metals tend to glisten more in the light, making them more attractive to both consumers and investors. Thirdly, their proliferation; while the metals all occur naturally, they are rarer than standard metals, which makes them more precious. All of these combine to create the fourth, and most important factor, their financial value.

Go back hundreds of years and precious metals, such as gold, silver and platinum had such high values that they were used as currency, traded in place of coins. Over the years, these naturally occurring metals have become even more valuable - or at least, the perception of their value has increased - to the point where they are never used as currency. Instead, they are hoarded as commodities for industrial or investment purposes.

Gold and silver's colourful properties make them ideal for art and jewellery, sculpted into fashion accessories and luxury items. They are also used as bullion for currency, although the metal's core value makes the coins far more valuable than their denominational worth.

Aluminium used to share the same precious status as gold and silver - not because it was a rarely occurring substance, but because it was difficult to obtain from the Earth and extract from ores. When that issue was solved, aluminium became increasingly common, prompting its value to plummet to that of a normal metal. It is now used to make drink cans and other everyday items.

But gold and silver are precious because of their rarity, which has kept their worth high. Indeed, as a commodity investment, that's what makes precious metals so worthwhile; the long-term perception of their value enables them to resist wider economic trends. Markets may fluctuate, currencies may weaken, but the value of precious metals remains the same.

Spanish property sales increase for second month in a row

Ivan Radford — Thu, 15 Nov 2012 12:42:00 GMT

Photo credit: Dale Musselman

Sales of Spanish property increased for the second month in a row in September, according to new figures.

The National Statistics Institute reported this week that 25,985 transactions were completed in September, up 0.9 per cent from 2011 - the second consecutive month of annual growth following a 3 per cent year-on-year rise in August.

Sales of new build homes only accounted for 49.1 per cent of sales, but existing home sales were far more popular, jumping by 1.8 per cent compared to September 2011. The news arrives as Spanish property prices continue to stay low and figures reveal that mortgage rates have fallen by 40 per cent since the market peak. As a result, buyers are returning to the country's bottoming out market, snapping up bargains.

The highest number of sales per 100,000 residents was recorded in La Rioja and Valencia, adds Kyero. Indeed, Valencia was a popular target for buyers; combined with Andalusia, Catalonia and Madrid, the four regions accounted for 62 per cent of all transactions made in September.

Ready to join the others?

Browse our listings of houses, apartments and other Spanish property:

http://spain.themovechannel.com/property/all

Spanish banks freeze evictions following suicide

Ivan Radford — Tue, 13 Nov 2012 12:46:00 GMT

Spanish banks have announced that they will freeze eviction orders in the most severe cases after a woman committed suicide just before she was to be evicted.

This is the second time an eviction-induced death has occurred in as many months, reports the Guardian.

"It's a problem which has been talked about for some time," said one judge who attended the scene. "The time for talk is over and steps must be taken for something to happen."

The public agreed, with protestors gathering on the streets near the home following Amaia Egaña's tragic death. This follows other recent protests about the general state of the economy, with rising unemployment now causing one in four Spanish residents to rely on benefits to live.

"It is just terrible never knowing if you'll be able to get back into your home every time you go out," commented Maria Cumbicus, aged 50, who moved to the country during last decade's property boom before losing job and falling behind on her mortgage payments.

Following the protests, Prime Minister Mariano Rajoy called for talks among officials to reform evictions. Now, the Spanish Banking Association has agreed to suspend evictions for the most financially vulnerable homeowners in the country.

The aim is "to help alleviate the situation of helplessness that many people are suffering owing to the economic crisis", the Association said.

Since the financial crisis, property values have plummeted from the market peak four years ago. As a result, many homeowners are now underwater, owing more on their property than it is actually worth.

"Under Spanish law," adds the Scotsman, "even when borrowers turn over their homes to the banks, they still owe the entire amount of the mortgage."

Cumbicus added: "Halting evictions is all very well after these suicides, but there is very little you can do on your own unless someone comes to your aid."

Demand for Madrid offices exceeds all expectations

Ivan Radford — Mon, 12 Nov 2012 12:32:00 GMT

Demand for office space in Madrid has exceeded all expectations, according to new figures.

Savills' report shows that take-up of office space in the Spanish capital hit 70,000 square metres in the third quarter of 2012, bucking the economic trend to perform far better than expected.

The boost has been attributed to several large transactions involving newly refurbished offices, which accounted for one quarter of activity during the three months.

But while the uptake is encouraging, experts note that overall figures so far in 2012 are still down 16 per cent on last year. Indeed, supply has increased since the second quarter of the year, pushing vacancy rates up to 12 per cent from 11.75 per cent, an all time high in terms of supply and vacancy rates.

Ana Zavala, director of office agency at Savills Spain, comments: "The deterioration of the country's economic climate has had a direct effect on the Madrid office market, with rents on a continued downward spiral, excess supply and limited take-up.

"However, we have recorded a higher than expected take-up in Q3 and vacancy rates remain at a low level in the CBD compared to other markets. The prospect for the office market is largely dependent on an improvement in the wider economic recovery, which remains uncertain."

Pablo Pavía, capital markets director at Savills Spain, comments: "We do have a small group of active domestic investors in the market but they are looking for very specific types of property but the supply is just not fitting their requirements. Of the little investment we have seen, both sale and leaseback opportunities and properties with the potential for residential use have proved popular."

Yields are current 100 basis points higher than the third quarter of 2011, adds SA Commercial Property News. Savills expects yields to stay steady for the rest of the year.

Moving house can be good for your health, says research

admin — Fri, 09 Nov 2012 13:43:00 GMT

It's famous for being one of the most stressful things you can do in life, but moving house can actually be good for your health, according to new research.

The Gallup-Healthways Well-Being Index asked 1,000 American residents about their sick days, health problems and other symptoms an found that being unhappy with where you live can be bad for your health. For those satisfied with their home's location, the average physical rating was 78, significantly higher than the 69.1 recorded for those unhappy with where they live.

"Those who are satisfied... are less likely to report having experienced physical pain, having health problems, being obese, having headaches, or having ever been diagnosed with asthma or high cholesterol," explains Gallup. "They are also more likely to report feeling well-rested and having enough energy."

"Additionally, adults who say their city is getting better as a place to live are less likely to report having ever been diagnosed with high blood pressure, diabetes, or high cholesterol than those who say their city is getting worse as a place to live. However, residents who are satisfied with their city are no less likely to report these three health issues than those who are dissatisfied."

Income, education and ethnicity are already associated with a person's wellbeing, but Gallup argues that this new research suggests that homeowners' perceptions of their communities is equally important when considering their health.

The question is: when are you planning to move?

Unhappy with where you live?

Find a new life abroad. Browse our listings sunny houses, beachfront apartments and other overseas property:

http://www.themovechannel.com/property/all

Six well-kept secrets of Spain’s property market

admin — Thu, 08 Nov 2012 15:08:00 GMT

Barcelona. Madrid. Benidorm. It's hard not to automatically think of these tourist hotspots when you talk about Spanish property. But there are other towns and provinces that people tend to overlook. What about Andalucia's villages and cities? The places North of Benidorm?

From Denia to Almeria, here six of Spain's best-kept secret locations:

Denia

Located halfway between Alicante and Valencia, people often forget about Denia because of its high profile surroundings. But Denia is popular among expats, with a large British community attracted to its medieval history, coastal location and quieter lifestyle.

Click here for listings of property in Denia

San Pedro de Alcantara

Location near to Marbella, San Pedro de Alcantara is a traditional Spanish town that has remained remarkably unspoilt by overseas interest. But interest in property there is growing, drawn by its proximity to the stunning coastline and beautiful natural landscape.

For listings of real estate in San Pedro de Alcantara, go here.

Almeria

Capital of the province of Almeria, this Andalusian city is famous for its port, which brings tourists into the area and drives the economy. The area's expansive desertl landscape is equally prominent, giving the province a starring role in several Spaghetti Westerns, while those looking for a beach home can enjoy the unspoilt Cabo de Gata coast and resorts such as Roquetas de Mar.

Find out more about property in Almeria

Costa Almeria

The Costa Almeria is the name given to all the beach hotspots of the Andalusian province. Led by the unspoilt Cabo de Gata (and the Cabo de Gata-Níjar Natural Park), the 135 miles of coastline are as beautiful as Spain gets. Perfect for those wanting a quiet holiday home with the view of the sea, the name Costa Almeria was devised decades to promote tourism in the area. Judging by the popularity of Almeria property, it is working.

For more information on real estate in Costa Almeria, click here

Province of Murcia

The province of Murcia has the mild climate and beautiful beaches that tourists love, promising over 300 days of sunshine a year, but away from the coast are the culture and history that makes visitors choose to stay. Coupled with Paramount's new theme park, the new international airport and La Manga's legendary sports facilities, it is no wonder that Murcia is one of the booming areas of Spain's real estate.

For more information on property in the province of Murcia, click here

Province of Granada

Located in the East of Andalusia, the province of Granada stretches all the way from the Iberian Peninsula mountains to the Mediterranean coast. This range of culture and landscapes, which includes the Alhambra and the Costa Tropical, attracts local holidaymakers, while one of the Europe's Southernmost ski resorts in the Sierra Nevada is an ideal target for overseas property investors.

Find out more about Granada real estate

Brit buyers not bothered by eurozone crisis

Ivan Radford — Thu, 08 Nov 2012 11:59:00 GMT

Photo credit: FlickrDelusions

British buyers are not bothered by the eurozone crisis, according to new research.

The recently published Quarterly Index report from The Overseas Guide Company shows that despite the European economic climate, an overwhelming 79% of British citizens were still looking to purchase property in the eurozone during the third quarter of the year - and Spain, unsurprisingly, was their number one choice.

The Overseas Guide Company attributed the surge in enquiries from Britons to a combination of low property prices in countries such as Spain and Italy, boosted by a favourable exchange rate.

Editor of The Overseas Guides Company Richard Way remarked: "Let's not forget, the euro was at a four-year low against Sterling by the end of July this year - no doubt a contributing factor to the especially busy August.

"Combine that with the knock-down prices, which families would have seen first-hand during their summer holiday in many destinations, and you can see where the interest has come from. The results of our Q3 Quarterly Index support the finding from our recent survey that more than 79% of Brits have not been deterred from buying in their chosen overseas destination by the current economic crisis."

When it comes to the most popular Eurozone destination for British enquiries, Spain remains a leader, having grown in attractiveness throughout 2012 from just 16% in Q1 to 22% in Q2. Q3 2012 ended with Spain taking 24% of total enquiries, now sharing the top spot with rival France.

Marc Pritchard, Sales and Marketing Manager at leading Spanish house builder Taylor Wimpey España comments,

"It's great to see that Brits have not been deterred - it's obvious that the nation is still considered one of the best places to buy a second home. At Taylor Wimpey España we've actually seen our sales increase this year with a 52% increase in sales on the Costa del Sol and an impressive 76% increase on the Costa Blanca until September 2012 compared to the same period last year."

One of the most famous coastlines in Spain, the Costa Blanca attracts millions of visitors each year and is traditionally a favourite destination for foreign buyers drawn to the clear blue waters, miles of golden sandy beaches, quaint villages, sophisticated cafes and restaurants and an abundance of historical, cultural and leisure activities.

According to data from Kyero.com, Spain's largest English language property portal, Alicante is a firm favourite for second home buyers, hardly surprising given that Kyero's Spanish House Price Index for October 2012 shows that Alicante property is priced significantly below the national average of €244,000 at a bargain price of just €206,000.

Not bothered by the eurozone crisis?

Browse our listings of Spanish property bargains:

http://spain.themovechannel.com/property/all

Spanish property prices now at 2002 levels

Ivan Radford — Thu, 08 Nov 2012 11:30:00 GMT

Spanish property prices are now back at 2002 levels, according to new figures.

The average value of homes in Spain fell by 9.5 per cent in September compared to 2011, according to the Department of Housing's data.

Prices are now 1.566 euros per square metre, marking a rise of 37 per cent over the last decade. But, according to Spanish Property Insight, once you adjust for inflation values have actually just risen by 4.5 per cent.

Compared to the market peak, on the other hand, prices have fallen by 25.5 per cent in the last four years - and by a significantly higher discount in real terms.

Prices, then, have not provided a very good return for those who invested in Spain a decade ago, but in the current conditions, as areas such as Murcia begin to see signs of recovery and mortgage interest rates fall, pre-booming property has rarely been more affordable.

Looking for Spanish property?

Browse our listings of houses, apartments and other beachfront real estate:

http://spain.themovechannel.com/property/all

Spanish mortgages now 40 per cent cheaper

Ivan Radford — Wed, 07 Nov 2012 11:35:00 GMT

Photo credit: Drumsara

Spanish mortgages are not 40 per cent cheaper compared to four years ago, according to new figures.

The Spanish Mortgage Association (AHE) announced that mortgages are almost half as expensive now than at the market peak in 2008, when the Euribor reached its highest ever level of over 5 per cent.

Back then, the average monthly payment for a 120,000 euro mortgage was 719 euros. Now, that has falling to just 433 euros, 286 euros less per month, or a total saving 1,200 euros per year.

The figures follow the Euribor's plummet to just 0.618 per cent last week, its lowest level in over a decade.

Experts now predict that the mortgage trend will continue, adds Kyero, with rates expected to remain at "quite low" levels for several months, if not years. Combined with already low house prices across the country, Spanish property has never been more affordable.

We do not expect a rise in the Euribor unless economic conditions change significantly. We have had quite some time with the index being low, we have even reached historic lows, which is a milestone," commented Soledad Pellón of IG Markets.

Snapping up a Spanish property bargain?

Browse our listings of houses, apartments and other affordable Spanish real estate:

http://spain.themovechannel.com/property/all

Alternative Investments Explained: Carbon Credits

admin — Wed, 31 Oct 2012 13:29:00 GMT

Alternative Investments Explained: from bamboo to precious metals, we break down the alternative products vying for your cash and assess which assets are worth taking the plunge for.

This week, carbon credits get the cross-examination treatment:

Carbon credits were first introduced as an environmental measure, designed to help companies, individuals and countries to mitigate their increasing emissions of greenhouse gases.

They are defined as: "A certificate showing that a government or company has paid to have a certain amount of carbon dioxide removed from the environment."

As greenhouse gases grow in the atmosphere, global warming is exacerbated, placing the Earth at greater natural risk. But by buying carbon credits, this rise can be offset.

One carbon credit tends to be equal to one tonne of carbon dioxide, with credits then going towards funding carbon reduction schemes around the world, helping to encourage alternative systems that emit fewer gases.

Over time, this has turned from an international scheme into a commodity market. Carbon offsetters can now buy carbon credits from traders and companies that have aggregated credits together. As a a result, investors can now buy and sell credits with firms and individuals, generating returns through the trading process.

As greenhouse gases become more vital for the Earth's future and more companies decide to offset their emissions, the carbon trading market continues to grow exponentially, potentially without limit.

The long-term potential for returns as well as the moral payoff that goes with an ethical investment opportunity make many investors choose to invest in carbon credits, giving them a chance to secure the future of their funds as well as the planet.

Costa del Sol property sales surge by 52pc

Ivan Radford — Tue, 30 Oct 2012 12:59:00 GMT

Photo credit: Drumsara

Spain's economy may still be slumping, but sparks of recovery may be appearing on the Costa del Sol, where property sales have surged, according to agents.

Transactions involving homes on the popular coast increased by 52 per cent in September compared to 2011, Taylor Wimpey España announced last week. Indeed, as property prices across the country stay low, overseas investors have swooped on bargain holiday homes, with overall sales in Spain jumping by 22 per cent.

"Whatever has been said about Spain, I don't think anyone can argue that it's lost its appeal as one of the world's hottest tourist destinations," commented Sales Director Mark Pritchard.

Indeed, 2012 is now predicted to be the best year ever in tourism revenues and second best in visitor numbers according to recent data.

Spain managed to close the best summer of its history this year with nearly 21.6 million visitors between June and August while official estimates show that 2012 will be the second best year of all time for Spanish tourism with 58.1 million tourists, not far behind the record breaking 58.6 million visitors seen back in 2007 during the property boom.

And those visitors weren't afraid to dip into their pockets. The average expenditure by foreign tourists visiting the country increased by 7% between January and August, reaching €107 per day, according to the Bank of Spain. As a result, the resilient Iberian nation saw tourism revenues between January and July reach €23.877 million - an increase of 0.6% compared to 2011, which was already a record year for Spain.

"It's really no surprise that foreign spending has increased in Spain this year," comments Pritchard, "particularly among British tourists who have been bagging more for their buck considering the strength on the pound over the euro."

Indeed, exchange rates have encouraged property investors to return to the debt-ridden country, despite its gloomy economic outlook. Spain has remained the site's number one real estate destination since last year, but interest continues to grow. Last month, demand for Spanish property reached an all-time high on TheMoveChannel.com, accounting for over one in five enquiries on the portal.

Guide to Buying Property in Murcia Part 3: Popular hotspots

admin — Tue, 30 Oct 2012 12:06:00 GMT

MoveWorldwide's Guide to Buying property in Murcia continues this week with another round of profiles, covering the popular Spanish property hotspots within the region. Speaking to our agents around the area, we asked them to give us quick, candid descriptions of each place's property market.

Here's what they had to say:

Fuente Alamo

"The longest golf course in South Spain, it's actually the busiest in the area - even more than La Manga Club! The bank that owns the real estate here have lots of two-bed apartments ready to go. The town isn't much in demand, but the nearby golf resort is."

Browse MoveWorldwide's listings of property in Fuente Alamo

Corvera

"There's not much going on here. The town itself is typically Spanish with some bars and restaurants, but it has the benefit of being five minutes from the new airport. It's going to grow naturally just because of that. Once the airport opens, things will start to sell."

Browse MoveWorldwide's listings of property in Corvera

Balsicas

"I had my first office here and I've moved back because of the location! Bars and restaurants are everywhere - good nightlife. It's seven minutes from the new airport, so there's a lot of activity. A lot of property is about for €80-100k with a lot of interest from Brits."

Browse MoveWorldwide's listings of property in Balsicas

Santomera

"A lot of people get disillusioned by the size of Sucina's property, but for only another €20k, you can get a home in Santomera twice the size. It's slightly further away from the coast than many places, but it's close to Murcia's new shopping mall and the Paramount Theme Park."

Browse Moveworldwide's listings of property in Santomera

Caravaca de la Cruz

"Caravaca's a beautiful location and a holy city. 1.25 million tourists come here each year just for the church, where there's allegedly a piece of Christ's cross, one of only five in the world. Like Moratalla, it's not really a holiday home market."

Browse Moveworldwide's listings of property in Caravaca de la Cruz

Moratalla

"Lush, green, mountainous. Commissions are in place for developments but no one is building yet. Buyers have to choose between fincas and old townhouses. It's more for older people rather than a holiday destination - the government is building lots of care homes."

Browse MoveWorldwide's listings of property in Moratalla

Archena

"Fortuna and Archena are in the same place because of their connection to the natural spas and they are run by the same hotel chain. Very popular with Spanish nationals as well as Scandinavian and German buyers."

Browse MoveWorldwide's listings of property in Archena

Fortuna

"The people who buy around here tend to be German and Scandinavians who are attracted to the facilities and spas. It just doesn't seem to interest the UK investor's market - they'd rather have a resort with a bar at the end!"

Browse MoveWorldwide's listings of property in Fortuna

Spanish rental yields on the up

Ivan Radford — Tue, 30 Oct 2012 10:50:00 GMT

Rental yields for Spanish property investors are on the up, according to new figures.

Data from the Bank of Spain shows that the average gross return on Spanish real estate has increased from 3.29 per cent in 2008 to 4.08 per cent in 2012.

This may be a long way off the 1998 peak, when landlords in Spain could expect returns of 6.53 per cent from renting out property, but as rents fall, so do prices, helping overall yields to increase.

The news follows a report from Idealista.com, which ranked regions in Spain according to the rental income available from each area's property.

The findings placed property in Toleda at the top of the buy-to-let table, offering yields of 6.13 per cent. The worst area, on other hand, is Pontevedra in Galicia, which only provides investors with a yield of 3.35 per cent.

(via Spanish Property Insight)

European retail property investment passes €7.1bn

Ivan Radford — Mon, 29 Oct 2012 12:09:00 GMT

European retail property investment passed €7 billion in the third quarter of 2012, according to CBRE. Investment in the sector hit €7.1 billion in the three months to September, a 12 per cent increase upon the second quarter and the highest quarterly total so far this year.

Despite the surge, the figure remains 18 per cent below investment during the same period last year, with activity mainly held back by a lack of product on the market.

The United Kingdom (UK) and the Benelux region were the two areas that saw strong increases in activity this quarter. The UK result was boosted by 17 transactions of more than €50 million, the largest being TIAA-CREF's €354 million purchase of Festival Place shopping centre in Basingstoke. In the Benelux region, investment volumes recovered following weak activity in previous quarters, mainly due to the completion of a few large transactions in Belgium and the Netherlands.

In today's risk-averse market, investors have shied away from economically underperforming Southern Europe. This shows through clearly in the latest results as the already weak investment activity levels declined further. With only around €200 million in retail investment in Q3 2012 for Italy, Spain and Portugal combined, this is 75% below the last three-year quarterly average of €734 million.

Recent years have seen a remarkable level of retail investment in markets such as Germany and Poland, but 2012 looks set to fall short of performance in 2011 and 2010. After record retail investment levels and with little new development completions, lack of product is proving to be the main stumbling block to further uplift in retail investment activity in these two markets. In Germany, for example, the €1.6 billion of retail investment reported in Q3 2012 was 25% below the last three-year quarterly average, even with the extra boost from the Hamburg Trust's 78% share acquisition of Shopping Center Milaneo in Stuttgart for circa €400 million.

Iryna Pylypchuk, Associate Director, EMEA Research, CBRE, commented:

"Many core assets that have traded in the market in recent years now sit in the hands of long-term holders. This, combined with limited development completions, means that near-term opportunities to access the European retail investment market are increasingly limited. For investors looking to commit new capital this means one of two things: partnering with a local specialist who is better placed to source product, and/or exploring markets that fall outside the tightly defined core assets and market."

John Welham, Head of European Retail Investment, CBRE, added:

"There is strong demand for prime and core retail property in all the stronger European economies and in particular Germany, the Nordics, France and Poland. That demand is coming from within Europe but also increasingly from outside Europe, in particular from the USA and Canada. The weaker European countries are seeing dramatically lower levels of trading. This is partly due to less capital looking at these markets overall, but also to the fact that vendors are generally still not prepared to accept the re-pricing levels demanded by the potential investors that are actively pursuing opportunities."

Golf gives Balearics €161 million boost

Ivan Radford — Thu, 25 Oct 2012 12:44:00 GMT

According to a recent KPMG report, golf tourism generated 161 million euros for the Balearic Islands in 2011. With Mallorca hosting 24 of the Islands' 26 courses, the impact on its local economy and the Balearics' property market is considerable.

Managing Director of Balearics Sotheby's International Realty, Daniel Chavarria Waschke, says, "With 24 golf courses in just 3,640 square kilometres, Mallorca has a unique selling point to outshine other second home destinations. The climate allows you to play 12 months a year and usually without having to book far in advance or have a membership. Most of our clients are golfers and they are as surprised as they are pleased that if they buy a home in Son Vida or Santa Ponsa for example, they can access three different golf courses within five minutes. They might pay 20% or 30% more to have a golf-front home, but accept that these properties are in demand."

Mallorca is an island perfectly suited to outdoor living and, surrounded by green and sea, golfing and yachting, it will always be in vogue for second homes. With the British, Germans and Swiss the keenest to live by the fairways, frontline golf property is second only to frontline sea property in terms of demand and price. And, even if they have no intention of ever swinging a club, many families still opt for gated golf communities as they are child-friendly and the beautiful green views are protected.

The same KPMG study said one million foreign golfers came to Spain in 2011, 35% of all European golf tourists, generating 1.2 billion euros for the Spanish economy. Andalucia took the lion's share, 400 million euros, with the Balearics in second place with its 161 million euro slice. Golfers in Mallorca tend to stay in four and five star hotels spending around 165 euros each, every day.

In more good golfing news for Mallorca, the second edition of the Rolex World's Top 1000 Golf Courses published in September features two of the Island's greats - Golf Alcanada and Golf Son Gual. With only 23 Spanish golf courses making the cut for the top 1,000, and some 32,000 golf courses in existence in the world, this is some feat for Mallorca.

Golf Alcanada's biggest ace is its location. Set at the north of the Island, it's the only course in Mallorca to consistently follow the coastline and has the most incredible views across the Bay of Alcudia including the lighthouse on the island of Alcanada. Despite being opened as recently as 2003, this Robert Trent Jones Jr-designed course has a very mature feel to it and nature is in abundance with pine, oak and olive trees flanking the well-kept fairways and many rare and wild species of bird can be spotted throughout the round.

Guide to Buying Property in Murcia Part 2: The Hotspots

admin — Thu, 25 Oct 2012 12:18:00 GMT

After MoveWorldwide.net's guide to buying property in Murcia, you may already be wondering where to start investing. But with so many places to choose from, each one set to get a major boost from Paramount's new theme park, Murcia can be a mind-boggling maze of options.

To help you find your way, MoveWorldwide spoke to its best Spanish agents and asked them for a brief bit of information on each of the region's top locations.

Here, then, is MoveWorldwide's Murcia Guide Part 2: Murcia's main property hotspots.

La Manga

Most people would class La Manga is the strip of land between the Mediterannean and the Mar Menor, but that strip is divided into two. One end is like Benidorm, the other is more like San Javier.

At the far end of La Manga, apartments are as little as €100k but because it takes so long to travel down it, property at the near end costs double that, with luxury flats priced around €250k.

Locals would go for the cheaper zone. Overseas buyers tend to stick to the more expensive area, where frontline beach properties are standard.

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Cartagena

Cartagena is a strange place for Brits - it's like a little London!

The second city in the Murcia region, there's a lot of good stuff going on here, with a new deep sea marina being developed. The aim is to build properties around the port and turn it into a Dublin-like high-end area and attract the luxury cruise liners.

There's not much space left in Cartagena to build, so instead a lot of old buildings are being redone into modern apartments. Still, not that many holidaymakers are buying, especially not Brits.

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Los Alcazares

Lots of Scandinavians and Germans buy holiday homes in Los Alcazares because it's close to the Mar Menor. Holiday homes here are a bargain because of the price - it's opposite the more upper-class La Manga, but it's far more affordable.

Los Alcazares was a typically Spanish town, with narrow roads and a good local market, but it has since been extended. There are not many new build properties in the area, so you need to go outside of the town to find new developments.

Browse Moveworldwide's listings of property in Los Alcazares

San Pedro

If buyers could get a place in San Pedro, they would. When I first moved to Murcia, I lived here. It was great, but parking was a nightmare in the summer because Spaniards would come from the North for the beautiful beaches!

Overseas investors tend to find that the places are smaller than they expect because they have been built for Spanish buyers. It's only a 1km walk to the beach so homes don't tend to include swimming pools - one of the main things Brits want.

There's not a supermarket in San Pedro as such; it's a holiday destination so if you live here, it's quite a drive to the shops.

Browse Moveworldwide's listings of property in San Pedro

San Javier

San Javier is very similar to San Pedro! It has the current airport, which gives it an advantage, but when Corvera's International Airport opens, that will change. Still, there are some lovely beaches and bars.

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Aguilas

Águilas is a beautiful place. Really beautiful. The beaches are probably the best in Murcia - on a par with the South of France.

There are new properties here, but the developers are naive, so the resorts don't always have facilities such as bars.

The town is lovely but it's mostly undiscovered by the Brits. That could be because of the roads - you used to have to drive all the way around to get here - but the new motorway means it's only 20 minutes from the Paramount Theme Park, so there's a lot of potential for things to improve.

When the park opens and the facilities are added, Águilas could become one of the most in-demand hotspots in Murcia.

Browse Moveworldwide's listings of property in Aguilas

Mazarron

Mazarrón is a bit of a myth place...

There is one development called Camp Azul, which has been there for years, but that was basically a bog land. Because the developer, Masa, was well connected, they erected these quick, pre-fab properties and sold them at low prices. They were featured on TV shows, such as Holidays from Hell.

People still come out looking for these cheap detached villas, but they don't always buy them. It's 15 minutes in-land from the Murcia coastline, so they're not exactly beachfront, although there are several nice golf courses.

Otherwise, Mazarrón has got some great views, lovely mountains and nice beaches, but the properties on the coastline can be quite pricey.

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Sucina

Sucina's a typical mountain town, a nice little place with a couple of golf courses.

It's popular with overseas buyers - quite a few Brits go to the Spanish schools there - but the market has got room to expand.

Sucina seems to be at the centre of all the new motorways in Murcia. It's connected with the new shopping malls, the new airport, it's just 10 minutes to the coast, 10 minutes to the city... It's really well linked up.

When Paramount Theme Park arrives and Murcia starts to see an undersupply of property, all kinds of developments will spring up around Sucina.

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Alhama de Murcia

15 to 20 minutes inland, Alhama de Murcia benefits massively from being the nearest town to Paramount Theme Park when it opens.

Everyone wants to go there, it's popular, but I've never sold a house there. It's a nice town, but the property tends to be Spanish-style housing, situated above restaurants and bars.

Existing developments that do appeal to overseas investors tend to consist of identical units of white houses - good luck knowing which is yours when you Come home!

But most people in the know are buying property here now because of the location - in a few years, more developments will appear and demand will soar.

Browse Moveworldwide's listings of property in Alhama de Murcia