August 10, 2007
Low Cost Flights Make Up Half of Malaga Arrivals
With three airline companies bringing half of the arrivals to Malaga Airport, it is expected that there would be a 7.5 percent growth in passenger number this year, bringing the total to a whopping three million passengers on low cost airline alone. The airline companies, Easyjet, Monarch and Air Berlin, are expected to accommodate 800,000 extra seats to Malaga this summer. With half of visitors riding with these airline companies, chartered flights are no being occupied by at least 20 percent of passengers.
The number of tourists arriving to Malaga prompted officials to construct another and second runway for the airport – this is the size of 200 football pitches. Last week, it was reported by Aena that as many as 527 properties, covering two million square meters, will be stepped on in order to achieve these properties and in order for them to build the airport. The properties consist of parking areas, cultivated and irrigated lands, apartments, railways and underdeveloped countryside. Most of these properties are within the area space of Malaga. The airport is expected to be operational by 2010.
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Posted on: Spain
August 4, 2007
Theme Park Property Boost for Spain
The 18 million square meters Marina D’Or Golf, Spain’s property for basking in the sun and sand, is being marketed in the UK and Ireland after glowing in the Spanish market for the new beachside resort.
The Marina D’Or Golf, located in Costa Azahar, has been the prime holiday resort for foreigners who would like to bask in the sun and ride the waves, fitting to be enjoyed for almost 90 percent occupied and sales of hundreds of apartments, found within the vicinity of the crystal clear beaches of Castellon de la Plana, and Oropesa del Mar. Not this massive beach resort is undergoing expansion three-fold and foreign property buyers and families can now enjoy the plush sceneries of this resort all year round.
Posted on: Spain
May 3, 2007
Spanish property rules OK
After a slowdown and a negative feedback with the rise of the Spanish real estate sector for a decade, there have been stories about the outcome of this event and there have also been headlines attached with it: “The end of the Spanish property boom” was the most read in media in Europe and all over the world of real estate sector.
Posted on: Spain
March 8, 2007
Property investors in Spain told not to be put off by legal issues
British investors in Spain, including those operating in a buy-to-let market, are advised to be aware of the legal issues but not to turn away from them.
This was disclosed by Pierre Williams, a spokesman from property investment education firm Inside Track, who said that buyers need to check out their properties entirely.
Pierre said, “Investors in Spain should acquire a planning permission first, and that they should be aware of that. Any property that they need to buy must be checked thoroughly for indicators of future problems, and as much as possible, to buy properties in areas that have the go signal.”
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Posted on: Spain
February 15, 2007
Spanish Buying Process
With a long tradition of overseas property buyers, the Spanish market has a long line of what people need and want: from the busy city life to long stretches of beaches to the fresh air of the country. Spain is also a great place for older people to retire to. But just because it is a good way for investment, it doesn’t mean that Spain is thriving without any kinds of problems.
Spain has a mortgage market that is very active. More than two hundred local banks have some loans to give to investors. Mortgage options differ immensely from bank to bank but Spanish property law says that one can borrow at least 70% of the property value. Most lenders also will not lend you money which is three times your income, but then there are few banks who would lend you with a slightly higher amount. As in most countries, lenders prefer borrows with stable income.
Posted on: Spain
November 14, 2006
Competition fails to taint Brits’ Spanish dream
Although Britons are venturing away from traditional expat haunts in the Mediterranean costas and the French countryside, they still have a hard resolve to invest in Spain, claims a leading property expert.
A study by Conti Financial Services said that an increasing number of Britons are selling their Spanish homes and returning to the UK, prompting fears that the British obsession with the dream holiday home in Spain is beginning to dwindle.
However, these fears appear unfounded as the Spanish property market is currently in the state of transition - buyers are changing habits rather than following a mass exodus from one of Europe’s most dynamic property markets.
Posted on: Spain
October 25, 2006
COMPETITOR: Property in Spain “best ever” investment
House prices in Spain have displayed the lowest rise in three years – 13.4% in the past 12 months. The initial sign of a predicted equity slowdown soared to 25% in the Costa Calida region in 2004. It averaged 18% in other second home coastal areas.
New figures for the average price per square meter for new and “used” homes between September 2004 and 2005 showed a slowdown which began in the long-time “boom” Spanish property market. read more
Posted on: Spain
October 3, 2006
SIPPs experts warn on risks and rewards
Insurance giant Norwich Union raised its concerns with the FSA on the marketing of residential property intended for investment into a SIPP (self-invested personal pensions), when simplified pension allows this benefit to rule.
Norwich is concerned that some of the SIPPs’ marketing is over-emphasizing the benefits but not the possible pitfalls. Adverts say that by buying residential property through a SIPP, customers will “effectively” reduce the cost by 40% due to the tax breaks. However, the adverts fail to warn the possibility of a substantial tax bill for investment in overseas properties or that the investor could lose control over his/ her property.
Posted on: Spain
March 28, 2006
COMPETITOR: Spanish property “cools” after peak year
It is expected that house prices will cool down between the years 2006 and 2007, verifying a switch to the buyers’ market forecast for the current year, according to Spanish developers.
The house prices should go down between 5 and 10 percent in 2006 as construction slows down and the entry of the Spanish property buying homes is in direct competition with properties from Dubai, Cyprus and Bulgaria. This was according to the Association of Property Developers. read more
Posted on: Spain
February 8, 2006
Golf Property Options in Spain
There are many golf areas in the world, according to Golf Digest, which covers some properties such as health lands, desert, browns, executive, sands, par 3 and even snow. In summary, golf is played by 64 million people in over 184 nations.
There has been a marked increase in people flying to other countries to combine business with pleasure. And due to this marked increase, many resorts have been improving their furnishings and are being developed to accommodate these golfers.
Posted on: Spain
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