May 26, 2005
Spain’s Economy Outstrips Rest in Eurozone
The Spanish economy now is on a roll since it grew 0.9 percent for the first quarter of 2005 and before that year, it was 3.3 percent.
And according to analysts, this has been the largest increase rate for three years now, and this level of growth surpassed other countries in the Eurozone.
Gross domestic product (GDP) expanded at an annual rate of 3.2 percent in the fourth quarter of 2004.
The first quarter GDP growth gave a strong command on the surging domestic demand, up to 5.8 percent on a 12 month basis compared to a 5.5 percent in the previous quarter, as reported by the Spanish National Statistics Institute (INE) in a statement.
Posted on: Spain
May 9, 2005
COMPETITOR: New High Debt From Spain’s Property Boom
Household debt levels hit new record highs largely as a result of Spaniards being forced to take on increasingly bigger mortgages to finance the purchase of the family home, following staggering rises in property prices since the second half of 1996.
According to figures released by the Bank of Spain, the financial debt of Spanish households hit a record of €595.18 billion in 2004, equivalent to 74.5 percent of the country’s gross domestic product. The increase in debt over 2003 was 17.5 percent - about the same rise in house prices last year - to a level almost triple the amount in 1996 when the current property boom started to kick in. read more
Posted on: Spain
April 21, 2005
COMPETITOR: Spain’s resale homes boom - with higher prices
Prices of resale homes in Spain are rising faster than those for new-build for the first time in a decade. This was boosted by the growing demand from British and other north European buyers seeking out the “Real Spain” inland areas in preference to the booming coastal locations. read more
Posted on: Spain
February 28, 2005
Floridian property market
It is estimated that 1,000 people move to Florida every day, thus it is unsurprising that Florida’s residential growth continues to increase both in sheer volume of construction and in appreciation. Long hailed for explosive suburban growth, new lofts, apartments and condos are going up in downtown Jacksonville, Miami, Fort Lauderdale, Orlando, Tampa, St. Petersburg, Sarasota and elsewhere. Favoured holiday home areas include the central area around Orlando and Disney; the south-eastern coast from Palm Beach to the Florida Keys; and gulf resorts on the south-western coast, like Naples and Venice.
Pros and cons
Florida nicknamed the ‘Sunshine State’ because the sun really does shine there for most of the year. Temperatures range from an average of 25 degrees centigrade in December to February, to 28 degrees in March to May, rising to 31 degrees in June to August; gradually cooling down again by November. This along with a plethora of spacious, affordable luxury homes and tourist attractions like Disney World, the Kennedy Space Centre and the Everglades National Park makes Florida a surefire investment proposition. When the exchange rate is favourable the argument for Florida becomes even stronger. But hurricanes are a big issue in Florida, and wind-proofing property with everything from whole-home standby generators to super-strong windows could set potential investors back by $75,000. Distance may also put some investors off - flights from London to Orlando, Miami and Tampa take eight, nine and ten hours respectively. However, there are plenty of holiday home management firms out there to help keep things running smoothly.
read more
Posted on: Florida
February 8, 2005
COMPETITOR: “Don’t Panic” Call As Spanish Property Slows
Bank of Spain figures show a six percent reduction in property sales.This could be good news for the country that relies on tourism to produce 12 percent of its gross national product and provide jobs for around 11 percent of its workforce.
The drop in sales to €5.5 billion for the first 10 months of 2004 has alarmed Government and industry pundits concerned about the knock-on effect on the economy. The drop is due to increased competition from other countries seeking second home inward investment and house price increases in the most popular Spanish Costas.
But the sales drop is not necessarily bad news, according to online specialists PropertyInSpain.Net because the market has already started to correct itself as buyers are moving inland to search for homes that are on offer at the prices of 3-5 years ago. Spokesman Terry Walker explains that there is no need to panic. Brits are the most property savvy nation on the planet and they know what real values are in any market in which they are thinking of buying. A few hours research on the Internet is enough to show them there are bargains still to be had within 15 minutes of Blue Flag beaches and famous resorts.
read more
Posted on: Spain
February 4, 2005
“Don’t Panic” Call As Spanish Property Slows
Figures from Bank of Spain shows a slowly depleting reduction as much as six percent in property investment sales – possibly a good news for the country that do rely for tourism with an additional 12 percent of its gross national product and which still hands out jobs for 11 percent of its work force. The sudden drop of sales, from 5.5 million during the first 10 months of 2004, has actually concerned the Government and other industry sectors about the startling effect on this to the economy. The drop figured after the other countries have decreased the sales of their properties to a staggering amount and has viable competitions in other parts of the region, such as the one in the Spanish Costas – the most popular.
Posted on: Spain
February 2, 2005
Spain’s Economy Data Boost for Property
Because of a persistent rise of 2.7 percent in the fourth quarter, the economy of Spain grew by 2.6 percent in 2004 compared with the year before, as told by the Bank of Spain and property growth for 2004 is being projected at over 16 percent, after certain figures from the College of Property Registrars.
With the following data and the following positive figures, there will now be a shift in paradigm as offplan properties are then to be boosted in the Spanish Costas region as buyers traditionally renew their Spanish dreams at the start of the new year. According to registrars’ records, there has been a continuous climb of a yearly 3.90 percent in the third quarter of last year, diminishing from a growth rate of 4.46 percent in the second quarter. Last year has been one good year too as property prices were up by 12.2 percent for the first nine months of the year. According to the appraisers society, Sociedad de Tasacion, there has been a recent estimate of a persistent growth in house prices in provincial capitals which actually slowed to 12.5 percent last year from 16 percent in 2003.
Posted on: Spain
January 31, 2005
Spanish La Finca Golf Homes at Discount Prices
For golf professionals and enthusiasts, they can now avail of discounted prices at La Finca Golf Homes, touted to be next Costa Blanca’s hottest premier spot for golf players, visiting tourists and golf amateurs from around the world.
The new 54-hole complex has a stable of facilities and amenities so that you can enjoy your stay: a shopping mall, a five star hotel, and miles of Spanish and lush golf courses which occupies a complete valley in the greenery of Vega Baja, just an inland from the perfect Blue Flag beaches and also a protected pinewoods at Guardamar de Segura. The vast 6394 meter of luscious green tee offs has also different features such as water everywhere, and of course, the massive fairways, excellent greens and the lakes which make this a long and testing golf course, suited for the course with six “dog legs” to have golfers on their senses.
Posted on: Spain
January 24, 2005
Prelaunch Spanish Golf Homes at 15% discount
Property investors can now bask at the limelight and should be thrilled to discover that golf properties can now be available to them. Aside from these golf properties, they can also avail of a spacious and luxurious 3-bedroom townhouse overlooking the sparkling communal swimming pool at Campo de Golf Villamartin, Costa Blanca with a 15 percent discount and on a special low deposit Spanish property plan.
This is the latest prelaunch offer from a leading online specialist website which is designed to be attractive to seasoned investors seeking maximum returns and very serious golfers seeking a house on an established and popular golf course they can avail whenever there is a family gathering or rental. There are also just 20 townhouses at discounted prices from EUR 189,800 with the remaining 35 to be sold at normal prevailing costs at EUR33, 500 or higher.
Posted on: Spain
December 31, 2004
Investors making for Morocco
According to property experts, Bulgaria, Romania, and Morocco are emerging as potential real estate and property hotspots in Europe. Even if Spain is the number one destination for investors in purchasing property beyond their homelands, it could suffer some setbacks based on its present state of saturation. Along with the increasing strength of the Euro, one real estate expert suggested that it can take as long as two years to sell Spanish homes (based on reports from Reuters).
By contrast, a 40% increase in hotel occupancy over the skiing season has prompted investors to look at Bulgaria as the next best place to invest in property abroad. According to Rupert Lee-Browne, spokesman for currency exchange specialist Caxton FX, “Bulgaria is definitely on the radar with buyers at the moment. Fifty per cent more of our clients are moving money there compared to last year.”
Posted on: Morocco
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