Saturday, 14 May 2016

Spanish Home Values up 4.3% According to EU Data

Spanish Home Values up 4.3% According to EU Data

The statistics database of the European Union (Eurostat) found that the value of Spanish property rose by an average of 4.3% in 2015. This is above the average in Europe which is good news for buying property in Spain.

In the final quarter of last year the Spanish property values stayed steady so Spain could be seeing an end to the rising property prices that it saw in the past few quarters.

Homes in Spain saw an increase in value across all quarters leading to the property value being 4.3% higher than for the same period in 2014. The three previous quarters also saw an increase higher than 4%.

Home prices in Costa del Sol are no the up
Analysts feel confident that this trend will carry over into 2016. Data from the first quarter will be out soon and people in the housing industry are eagerly anticipating finding out if the encouraging results of 2015 will indeed lead to a great 2016.

In the whole of the EU property prices increased an average of 3.8% last year. Sweden was ahead of the league with an average rise of 14.2%. Hungary came second with 10.3% and the UK came third with 7.1%.

Croatia, Italy and Cyprus, all of whom have been considered the next big thing when it comes to overseas investment, fell flat. They saw a contraction of 2.1%, 0.9% and 0.6% respectively.

It’s been predicted by CBRE that Spanish property prices will rise by as much as 5% in 2016.

Overall buying property in Spain is a good investment and looks to continue to rise over the next few years.

Friday, 13 May 2016

Spanish Economic Growth Better than German Economic Growth

Spanish Economic Growth Better than German Economic Growth

The resurgence of the Spanish economy that began in 2015 is continuing in 2016. Data from the Markit Composite PMI index over the weekend showed that the Spanish GDP grew by 0.6 in the first quarter of 2016.

Great news for Spain as it continues to make progress
The average growth for the Euro area was 0.3% in the first quarter. Germany saw a growth of 0.4% which means that the Spanish economy grew more than Germany, Italy and France. Most of the European countries experienced lacklustre growth overall.

The index shows that the Spanish performance of 55.1 PMI in March was better than the forecasts predicted. It even performed better than Bloomberg predicted. Bloomberg urged Spanish leaders to approximately number the shoots of recovery of last year.

It seems like this is what is happening even though the country is going through tough a rough political climate at the minute. It looks like there will be a re-election in June unless the problem is solved and a leader emerges.

This political turmoil hasn’t damaged the job market however or the continues growth of the real estate property market and cities of Spain in March saw more than 50,000 jobs created and led to a drop in Spanish unemployment for the second month in a row.

More data was published last week to show that the cost of living in Spain was stable and the service sector in Spain reached a four-month high in March. Spain did a good job this year of avoiding the typical post-Christmas slump that can affect the employment figures in the service sector.

Thursday, 12 May 2016

Spain Calls for Tapas to be Recognised on Unesco Cultural Heritage List

Spain Calls for Tapas to be Recognised on Unesco Cultural Heritage List

Tapas, from the ingredients involved to the dining method itself, is aiming to be recognised by Unesco.

Tapas are a wonderful way to eat
Many great things have origins in Spain; Flamenco, Sherry, Bullfighting, sunburn, and Latino love machines like Julio Ilgesias. One of the things that Spain is most known for is their food.

Spanish food can be found all over the world in many different forms and varieties including ranging from El Bulli’s experimental cooking to the simple bags of frozen paella found in a supermarket. Tapas is perhaps the most famous form of Spanish cuisine.

Tapas has become so prolific in UK restaurants, mostly due to the influx of Spanish nationals flocking to Britain as a result of the Spanish economic crisis, that tapas being sold in supermarkets has seen a sales increase of 40% year after year since 2013.

One of the reasons that tapas has become such a favourite is that there is a lot of variety including flavours and textures and portion sizes. The affordability of tapas also helps. Tapas has become such a favourite that the Spanish Royal Academy of Gastronomy has asked Unesco to put tapas on the list of Intangible Cultural Heritage.

Plenty of people will know Unesco for their work with promoting historical sites and protecting them. They also offer protection for different cultural assets such as “intangibles” including living practices, skills, and artisan craftsmanship specific to a country.

The president of the Royal Academy of Gastronomy, Rafael Anson, says that Tapas is the very model of food. He believes that pizza by itself would not be considered intangible but the entire Mediterranean diet is.

He added that restaurants in spain and tapas is also a way of eating. He was the driving force of the push to see the recognition of tapas and considers the project to be very advanced.

Anson said that while it will be up to the Ministry of Culture to formally present the idea to Unesco he has spoken to them himself and they are considering it.

Unesco has already recognised the Mediterranean diet as being a cultural heritage asset. Unesco also considers Flamenco and the human towers of Catalonia to be cultural heritage assets too. Tapas would definitely belong on a list like that. Italy is already trying to ensure that tapas isn’t the only food on the list. While pizza itself isn’t enough to count Naples is attempting to have the art of Neapolitan pizza making admitted by Unesco.

Wednesday, 11 May 2016

Survey Shows Most British Expats Will Vote to Stay in the EU

Survey Shows Most British Expats Will Vote to Stay in the EU

According a survey by The Local most British expats living in Spain and Europe have plans to vote for Britain to stay in the European Union at the upcoming referendum.

Will it be better the devil you know ?
The newspaper surveyed over 2,700 British people living throughout Europe and 67% of them, rather unsurprisingly, said they plan to vote “stay”. 28% of those polled were in favour of leaving the Union with the other 5% still being undecided about which way they’ll vote.

The Chief Campaign spokesman for Britain staying in the EU said the survey was a clear sign that Brits abroad wanted to stay in Europe. The Local also interviewed expats and one of them expressed concern about the potentially negative impact the Brexit would have financially.

Maura Hillen, the expat in question, feels that the decision is tougher for Brits who are living abroad. The decision will heavily impact expats. She feels that people in the UK will approach it differently but there is a lot more risk for expats.

One of the major concerns of the Brexit is the impact it would have on property owners. While there may not be much impact felt by people who already own property, it could become much more difficult for these non-UK citizens to buy a new home.

A spokesman for Better Off Out, a pro-Brexit campaign, said that they had not contacted expats directly yet. They said simply that they are focusing their efforts on every voter and wish that people who vote will see the benefits for the UK.

Hillen also spoke about how ironic the debate in Spain is, as many of the expats in favour of exiting the EU are concerned about immigration and cost of living in Spain. It’s ironic because they themselves are immigrants who benefited from the ability to travel freely through the EU .

The more interesting thing to note is that of the 2,700 expats that were polled by The Local, only 673 of them are currently eligible to vote. Most them have been living abroad for more than 15 years and can no longer vote, or are unregistered.

If the out vote wins then expats who are residents in Spain will be fine as the only long term difference will be a little more paperwork.

Tuesday, 10 May 2016

7 Essential Steps to Buying Property in Spain

7 Essential Steps to Buying Property in Spain

Buying property in Spain is probably the best decision on can make
If you’re interested in purchasing Spanish property in the Costa del Sol then it’s important that you follow these seven steps.

1.      Assume that everything you would have to do at home is a necessary step in Spain too. It’s important that you keep a hold of your wits and never take something for granted. Constantly ask questions until you understand what people are telling you. You should also ask the same question to different people to get a bigger perspective and a full understanding.

2.      Set aside a research budget. This is money that is there to cover the costs of looking at property and getting advice about what to buy. Consider buying the property and this money as an investment. This can potentially cost you hundreds but, in the long run, can save you thousands.

3.      You need to actually go to Spain before committing to purchasing anything. No amount of internet research will be enough. It may show you everything but it’s only by going to Spain that you can see the full picture, hear the noises and smell the smells. You should take a few trips over the weekend to the places you’re interested in. Going back to a place you’ve settled on can help you understand what it would be like to live there.

4.      Remember that there are both good agents and bad agents out there. It’s also important that you remember an agent doesn’t get a fee until you purchase the property. If you don’t commit soon enough for their liking they’ll move on to another client who will. You should also avoid letting yourself be rushed into making a decision though. If you’re buying the property in conjunction with a partner then ensure that both of you wish to invest in the same property and are in agreement. If one partner isn’t happy with the property it can cause real problems in the future.

5.      You need to find a good lawyer who is fluent in your language and can understand you clearly. Ensure that they also have a support network you can contact if they are too busy with other issues such as a court cause. You shouldn’t allow yourself to be left without any assistance. The lawyer doesn’t need to be in the local area but they should give you the feeling that they will be able to emphasize with your problems and they have a conscience. They should be able to provide you with answers to questions you didn’t even know you needed to ask. Being an excellent communicator isn’t a skill highly valued by lawyers so don’t let them cut contact with you. Always ask them for more information if you want it. Sometimes you’ll find out that even though things have progressed, no one felt the need to tell you.

6.      Always get the property inspected. Find yourself a qualified surveyor who will have experience in the kind of problems you’re likely to face and has experience working through any problem and finding solutions. The surveyor, much like the lawyer, has to be able to speak clearly with you and answer any question you have, and some you don’t. The surveyor is one of the only professionals that will visit the property and look at the paperwork for it. A lawyer will be able to give you the correct paperwork but the paperwork isn’t worth much if it doesn’t cover the entire property or the property is so damaged it could fall apart as soon as you sign the papers. Taking a report from the surveyor to the negotiation phase will help you get the property at a good price and can save you more than the cost of having the report made.

7.      The final thing of importance is that you enjoy the process and the country, while still keeping your wits about you and remember why your buying the costa del sol and moving to Spain to get a better life after all.

Monday, 9 May 2016

Sharp Rise in Spanish Property Enquiries in 2016

Sharp Rise in Spanish Property Enquiries in 2016

Buying property in Costa del Sol is taking off again
Property buyers the world over are looking for homes in  Cota del sol and Spain. This is according to data released by the Move Channel and their Hotspots Index.

The index shows that the number of searches to do with Spanish real estate has doubled in 2016 over 2015. Spain is dominating the top 50 rankings too.

Spain has 15 different locations in the list of Top 50 destinations. This is more than Italy, which has 14, and France and Portugal. Rome was the number one but Spanish Benidorm placed third, which was 13 places higher than its 2015 position. Malaga came in at sixth to help secure the best Spanish performance in the Hotspots Index.

Dan Johnson, director of said that Spain has gotten off to a great start in 2016 with plenty of interest from overseas buyers. The Q1 2016 Hotspots Index comes with a weakened pound against the Euro after a strong 2015 for the pound. There is a lot of optimism about the real estate market in Europe though and especially in Spain. This makes European real estate one of the best investment options on top of it being a preferred destination for people looking for a better life. Spain offers lower prices, better rents, and low mortgage rates.

Costa del Sol property for sale becoming the most popular property hotspot further shows the importance foreign demand plays in the recovery of the Spanish real estate market. British buyers are trying to find properties in already established expat communities. This is bringing up the price and reducing the supply of properties in these coastal areas. While the “Brexit” may be coming, there’s still plenty of British property buyers investing in the Costa del Sol and all throughout Europe.