Marbella & Costa del Sol Property

A Place in the Sun 2012 has got the overseas property exibition season off to a positive start

10/04/2012
The UK overseas property season got into full swing last week with the first major exhibition of the year.

A Place in the Sun Live drew 4,753 visitors to London’s Earl’s Court, up 16% on the autumn show in Birmingham but down 9% on the previous year’s London event.

Despite the slight fall in numbers, Andy Bridge, Managing Director of A Place in the Sun was upbeat about the show and in particular the quality of the audience.

“Our exhibitors reported an audience that was motivated, informed and keen to move forward with an overseas property purchase… A Place in the Sun Live’s proposition is a simple one – our show is purely overseas property – and our visitors are very clear as to why they come to the event.”

As the only major lifestyle overseas property event in the UK, A Place in the Sun Live has become something of a barometer for confidence within the industry.

The market, while not rising, seems stable. The status quo is now fewer companies fishing in a smaller pond of buyers. Although there were a few companies taking a punt with products that were not right for the UK market, the majority of exhibitors were experienced companies with a good understanding of what works.

The British are still buying, just in fewer numbers than before. And the news to fans of internet marketing is that quite a few of them include exhibitions in their research and decision making process.

With unemployment at record levels and property price falls accelerating in many areas, good news from Spain is thin on the ground.

16/01/2012

Much has been made of Spain’s property glut but it seems that in the Costa del Sol at least, falling prices are beginning to clear the market.

According to the Association of Builders and Developers of Malaga (ACP) 10,000 new homes were sold in Malaga province in 2011 which is nearly half the 25,000 new homes on the market at the start of last year.

Could this be the start of shortage of property in established holiday home areas?

Ironically the answer is probably yes, although it may take some time.

Holiday home markets were hit fast and hardest by the crisis but since then international demand has proved more robust than demand from the domestic market.

Sales volumes are still significantly lower than their peak levels (partly because the British have left such a big hole in demand) but new supply is likely to be subdued for a long period. Property markets work in long time lags and construction levels could take at least five years to return to “normal”.

In established destinations such a Marbella, where international demand is strong, 2012 could be the last year it’s possible to pick up real lifestyle bargains.

This conclusion however depends on your view on the future of the euro and the possibility of a major European-wide currency crisis.

Retirees and those yearning for early retirement or downshifting will continue to be the main market segments until there is a conclusion to the euro crisis.

Volumes won’t recover until then. The French and German elections are likely to be pivotal in the eventual revival of the Spanish overseas property market

England football team will bid to end their terrible record in major tournaments by spending a week on the Costa del Sol ahead of Euro 2012.

14/12/2011

Manager Fabio Capello and his squad will begin preparations for the competition by spending five or six days at the exclusive Marbella Paradise of Football & Sports complex in La Quinta from May 21.

The complex has proved a popular training camp in the past for Premier League teams including Aston Villa, Everton and Newcastle.

“We need to find a warm place where we can work as a group and there are no problems for training,” said Capello.

“It’s very nice. Now we just need to decide when we will go to Marbella before we leave to go to Poland and Ukraine for the tournament.

“But I want us to stay as a group for that period. I hope there will be more time to rest, and I hope the players all have time to recover their energies.”

England have been drawn to face France, Sweden and Ukraine in the group stage next summer, and could face World and European champions Spain in the quarter finals.

International agencies in Spain have experienced a huge surge of interest from Russians looking to buy residential property in Marbella this year.

24/11/2011

Representitives from a number of international agencies have reported this week that “the number of Russians looking to buy homes in the area has doubled since last year.”

“They are typically looking for high value properties on the coast and on exclusive estates such as La Zagaleta and Sierra Blanca – both of which are renowned for their good quality homes and high levels of security.”

Part of the attraction to buy property in Marbella is the amount of flights available from Russia to Malaga, says Fine & Country. Twenty airlines have direct routes to Malaga from major cities and from Moscow there are 82 flights per week. Marbella is just 40 minutes drive from Malaga airport.

Plan to up sticks and begin a new life under the Marbella sun? Then one of the eight or nine million things to get done before purchasing that beautiful villa is sending funds abroad – Part 2

22/11/2011

Plan to up sticks and begin a new life under the Marbella sun? Then one of the eight or nine million things to get done before purchasing that beautiful villa is sending funds abroad.

22/11/2011

Plan to up sticks and begin a new life under the Marbella sun? Then one of the eight or nine million things to get done before purchasing that beautiful villa is sending funds abroad. For the unprepared person however this can be a mine field. Imagine for instance that you amble into your bank one morning, and request an exchange rate on a transfer into euros. The manager mightn’t tell you, but the exchange rate or she provides could in all likelihood be the absolute pits. How then do you avoid this mine field, and find an exchange rate that doesn’t involve being fleeced for several thousand pounds? For this, I have compiled some hints and tips beneath.

1. Look out for the banks! Like I mentioned, using a bank to change euros is the currencies equivalent of throwing yourself to the wolves. For instance, imagine that your funds are a cappuccino. Banks look to skim as much of the nice white foam as possible, leaving you with plain old coffee. Not the best option in other words!

2. Get a better rate! Contact a currencies broker To take the pain out of changing currencies then, your 1st port of call should be a foreign exchange broker. For brokers, changing currencies is as natural as breathing, meaning you can anticipate a tip top exchange rate. Even better, exchange brokers hold a keen gaze on the foreign exchange markets, meaning you can receive specialist help about the time to transfer too.

3. Plan plan plan Last of all, to make transferring funds to Spain smooth sailing the best bet is to plan. Think about sending the funds abroad as soon as possible, so you’re not landed with a dismal exchange rate at the last minute.

From Peter Lavelle at Specialist Currencey Brokers Pure FX

The Tourist Board of the Costa del Sol has created the new brand ‘Living Costa del Sol’ with the aim of encouraging the British to buy a home and reside in the region for at least six months of the year, an initiative which is directed at clearing some of the surplus of about 30,000 homes.

10/11/2011

The President of the organisation, Elias Bendodo, presented the brand at the World Travel Market tourism fair being held in London this week. He also told reporters that it is their intention that this initiative will also be used in promotional activities to be carried out in Germany, France and the Nordic countries.

According to Bendodo, ‘Living Costa del Sol’ was developed in collaboration with developers, insurance companies and financial institutions, and aims to attract new British residents, reduce the amount of unsold finished homes, located primarily in the west of the Spanish mainland, and boost Spain’s economic recovery.

The President of the Malaga organisation also assured that the developers are “fascinated with the idea”, and stressed the importance of having legal guarantees, for working with insurance companies in the countries to which the brand is focused, reported El Mundo.

This product is aimed at attracting primarily people without work commitments, such as pensioners, and to highlight the climate of the Costa del Sol, as being an “open all year round” destination, which already has a substantial number of British residents.

Taylor Wimpey España, the award-winning Spanish arm of the UK house builder Taylor Wimpey Plc, have reported extremely positive sales levels for September 2011, showing that quality homes in the best locations still sell well. A VAT-free offer on a selection of some of their best homes is sure to boost sales even further.

07/11/2011

Taylor Wimpey España’s property sales rose by 15% last month across Spain, while UK enquiries alone increased by 45.5% compared to September last year, according to company data.

Britons are still the biggest buyers of Taylor Wimpey España’s high-quality homes in Mallorca, the Costa Blanca, and the Costa del Sol, accounting for 30% of sales, followed by Spain and Russia with 20%, and Germany with 10%. The remaining sales were spread amongst buyers from Switzerland, Sweden, Belgium and Holland.

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

“We have been seeing pleasing sales figures and enquiry rates recently which we are very excited about. September was a great month for us and October has been following in the same footsteps with positive sales in the first 15 days as well as Costa del Sol enquiries rising dramatically over the last 2 weeks with now only 2 stock properties remaining at La Floresta and 51 under construction between Los Robles II, Los Arqueros Golf & Country Club and La Floresta phase II.

“In addition, we have now sold almost 40% of the under construction apartments which we are extremely pleased with. It looks like we will be having a very happy ending to this year that’s for sure.”

In a move that is sure to boost sales even further, Taylor Wimpey España are running a direct-sale promotion, offering a choice of high quality properties in popular locations across Spain and the Balearic island of Mallorca VAT free. But hurry, the offer won’t last long.

For further details see our page here

Three out of four Spanish property investors believe the sector will turn around within eighteen months

07/11/2011
The Spanish real estate sector is still in the doldrums, but investor expectations are improving, according to the latest survey by international consultants CB Richard Ellis.
73pc of real estate investors in Spain expect the sector to turn the corner in the next year and a half, reveals the latest property investment barometer from CB Richard Ellis.

57pc of those surveyed said they planed to invest in Spanish property in the next 6 months.

That said, most of the interest is in commercial rather than residential property. Only 7pc plan to invest in residential property, compared to 50pc in offices and 40pc in prime shopping centres.

80pc say that financing will continue to be a big problem for investors, which is why 60pc think that foreign investors with better financing will drive the market as it turns around.

Outside of Spain, London and Paris still dominate, with 50pc of the total investment

Foreign Investment in Spanish Property Jumps by 32.8%

06/10/2011
Spanish property is enjoying a new wave of overseas investors, most likely due to the substantial discounts on offer. Foreign investment in property in Spain surged by 32.8% in the first half of 2011 over the same period in 2010, to 2,445 million euros, according to the Bank of Spain.

Moreover, these investments exceeded 1,000 million euros for a second consecutive quarter between April and June, something not seen since 2008, before the property bubble burst. In this second quarter, the increase over the first quarter’s transactions was 16.1%.

El Mundo reported that foreign investment in property in Spain has fallen steadily since 2003, when it peaked at 7,072 million euros, down to 6,650 million euros in 2004, 5,495 million euros in 2005 and 4,716 million euros in 2006.

However, this downward trend stopped in 2007, with 5,341 million euros from foreign property investors over the year, 13.3% more than in 2006.

Spain gained 5,331 million euros in foreign direct investment until the end of 2008, up 1% over the same period in 2007, but in 2009 the property crisis discouraged investments, which then fell back to 3,651 million euros.

Due to the importance of foreign investment, the Ministry of Public Works embarked on a ‘road show’ on April 1, to encourage and direct foreign demand for housing on the coast, which accounts for more than 50% of the ‘stock’ of unsold housing. The next round of meetings with developers, financial institutions and investors will take place in London in mid October.

Spanish investments in real estate abroad, on the other hand, fell by 44.8% during the first half of 2011 compared to the same period in 2010, which deepens the decline of 17.4% registered at the end of last year.