Saturday, 9 July 2016

Construction industry in Spain witnesses a boom as Brits are on a buying spree in Costa del Sol

Construction industry in Spain witnesses a boom as Brits are on a buying spree in Costa del Sol

Not only are the Spanish footballers preparing for a hectic summer ahead. Joining them are magnates from the construction industry, as the signs towards the start of 2016 show a bright year ahead for the industry. As per the statistics released by the Ministry of Public Works, the total number of licenses for new Off-plan homes in Spain for Q1 was 16,782.

Off-Plan property sales are on the up and booming once again
There was a significant increase of 57.1% compared to the previous year and this was the best growth recorded ever since 2011. The main reason for this boom in the construction of residential properties can be attributed to the large number of foreign buyers interested in the Spanish real estate. Even now, the demand from foreign investors is only growing and natives of different European countries have continued investing.

Taylor Wimpey Espana, a popular homebuilder in Spain, released statistics of the total YTD sales in April 2016 and it has shown a growth compared to the previous year. The total number of British buyers increased by a whopping 48%. This is mainly because a large number of Brits are keen to buy a property in Spain and Costa del Sol is highly popular, with the majority of them planning to buy a property in the same region.

The Sales and Marketing Director of Taylor Wimpey Espana, Marc Pritchard, sees a bright future ahead for the housing industry of Costa del Sol. When asked about his opinion, he said:

“Construction within Spain’s residential sector is rising once more, as the demand from overseas buyers continues to strengthen the market. The Costa del Sol has always been a prevalent destination for Spanish holiday homes and is fast becoming the favorite once again amongst British second homeowners. As British buyers choosing Spain’s southern coastline increases, so too does the optimism surrounding the market and we would expect this positive trajectory to continue throughout the rest of the year.”

Taylor Wimpey Espana has recently developed an architectural marvel named La Floresta Sur, in the skyline of Costa del Sol. It is developed in the midst of a UNESCO reserve and it is constructed in the village of Elviria, which is close to the beach and enjoys a proximity to Marbella and Malaga.

The property is developed based on a Mediterranean style and the prices start from just €202,000 +VAT, which has configurations in 2, 3 bedroom apartments along with Italian styled penthouses with silestone worktops, thermal and acoustic insulation and central air conditioning as a part of the deal. Also, when you look out from this property, you will see an amazing view of oak and pine forest in the horizon extending into the sea and it also has two swimming pools, private parking and wonderful landscaping as a part of the project.

The development of Phase 4 is to be completed in the summer and the rest of the units are up for sale with a launch offer. They have enabled houses with fully equipped kitchens, shower area and furnishings as well which will be inclusive with the sale price.

This is one pristine property where you will get to enjoy the beautiful view along with the best possible golf courses in Costa del Sol, such as the La Cala Golf Resort and Santa Maria Golf, along with a direct access to El Soto Golf Club and a stone’s throw away from Nikki Beach Club.

Friday, 8 July 2016

Money Lost Through Off-Plan Spanish Property Deposits Can be Recovered

Money Lost Through Off-Plan Spanish Property Deposits Can be Recovered

We work with the Best Lawyers that return deposits in record time
The Spanish Supreme Court have come to a decision that could give over 100,000 Brits closure after their dreams of owning a Spanish property was crushed. They have ruled that the people who lost their money by depositing it to secure an off-plan property or by making stage payments can have their money returned.

The Off-Plan property deposits in question averaged around £40,000 and were lost after the Spanish financial crisis caused the companies the money was given to to either go bankrupt or disappear entirely. This ruling holds the banks in charge of the missing money responsible for paying back possibly to £4 billion in lost deposits to Brits and other northern European purchases.

While there is no official data on the matter Costa Del Sol Property Group have estimated that up to £15 billion could be refunded to off-plan buyers across Europe as a whole who saw their money disappear after the crash.

The money will be returned to people like John Thompson and his wife Debbie. Together they lost around €75,000 trying to buy property on the Costa del Sol. The property was bought off-plan and they paid several deposits on the property of up to half of the €150,000 asking price on the property.

Costa Del Sol Property Group are one of the most knowledgeable firms when it comes to this area of the law and work with the best lawyers that know the Spanish system and have a 100% record to date on a No Win No Fee. As such they put together their own dedicated legal team to help non-Spaniard reclaim lost off-plan deposits back following a no-win no-fee basis in record time. They also have team members who are fully fluent in English.

If you know anyone who might have lost money, contact them to get in touch with us or if you think you have lost money call us or contact us today. or call us on uk free phone 0800 820 138 or +34 952 493 709 for free guidance.

Thursday, 7 July 2016

Owing to the sudden demand for housing, off-plan buying is back in Spain

Off-plan buying is back in Spain

With the onset of property construction in Barcelona and Spain, buyers now have the option to modify their properties.

Due to the high supply without proportional demand as a result of the industry collapse in 2007-08, there are some areas of Spain that are so badly in need of new housing that off-buying has been a trend to cater to the increasing demand.

Buying Off-plan property is in demand again
As per Juan Antonio Gomez-Pintade, the President of APCE, said that there are several parts of Madrid, Barcelona and Costa del Sol with large stocks of unsold housing projects and now, they have become ‘practically inexistent’, due to several underlying factors such as the growth in economy overall, decrease in the unemployment levels and the sudden growth of property market on the whole perspective. Consider the case of Madrid, where there are around 3,000 homes available immediately, with 30% of the properties in the M-30 ring road’s proximity.

Due to this factor, the overall demand of the property increases and there is a reactivation of the construction industry which had come to a standstill in 2008 with many owner loosing their off-plan deposits until now. and last year, the total number of licenses granted shot up after a decline since 2008 and it was up by 42.5%. Going by this statistics, the activity is back and there is a recovery.

When the case of off-plan buying was considered, the recovery slowly started in 2013 and as of now, the growth in off-plan buying is termed as exponential in the case of Madrid and it is observed more often in the upper end market where there is a dearth of luxury amenities and top-class infrastructure in the homes provided. It is similar in the case of Barcelona as well, where people who do not have an issue with the delivery date are finding it to be highly beneficial as the prices are lower.

Also, the political uncertainty that prevails in Spain does not affect the housing market and the low interest rates are proving to be more encouraging to the investors with high anticipation for appreciation.

Even the markets that are dwindling due to a large number of unsold properties are slowly recovering and the recovery is spreading across regions, due to which buyers are getting a choice to make changes in the design and architecture of their property based on their individual preferences. Buying new and Off-plan property in the costa del sol is so in demand that as soon as the developments are released the majority of the properties get sold, confirming the recovery of the property market.

Wednesday, 6 July 2016

Experts forecast real estate market of Spain to see a growth till 2025

Experts forecast real estate market of Spain to see a growth till 2025

The real estate market in the Costa del Sol and Spain is set to see a 40% growth within the next ten years, opined an expert.

With the prevailing trends, the growth trends can be expected up to 2025 as per forecasts from Jose Luis Suarez, who is a professor of financial management at the IESE Business School.

After considering the existing property trends, Suarez said that the appreciation of property prices are certain for the next decade and it is similar to the trends exhibited by the real estate before it reached a new high in 2008, just before it crashed.

The professor predicts that the property price will go up by 40% by 2025, as Spain is a hot destination for property investments.

The demand for houses in Spain will go up and nearly 100,000 houses will be added every year until 2020, following which there will be an addition of 140,000 houses annually till 2025.

This time, the property hype is controlled and is not like the last time, with investors keeping it realistic and not expecting quick returns from the market. The increase in property prices for the first quarter in 2016 stood at 6.3%.

Suarez indicates that it is a bright season ahead for the housing industry after a lean period in 2014, where only 50,000 houses were added, unlike the peak of 800,000 houses back in 2008 before it all crashed.

Tuesday, 5 July 2016

Three Reasons for British Expats to Stay Cheerful

Three Reasons for British Expats to Stay Cheerful

Expats will be ok, spain needs you and the EU
needs the UK
The Brexit has caused quite a big shift in the world. There is one group in particular that are no doubt feeling apprehensive about the vote to leave the EU and that is British expats living  and working in in Spain.

Most of the Brits who live in Spain are free to live and work there because of the provisions given to them by the EU. Citizens in the EU are able to live and work wherever they please in other EU states, including Spain, provided that they don’t cause any trouble for their host nation.

With the vote to leave the European Union it looks like things are going to have to change in the long term. The good news is that the EU is beginning to soften up how it will deal with the UK even though British politics continue to meltdown.

Many nations in Europe are beginning to speak out in support of the UK, chief amongst which was the Spanish Prime Minister Mariano Rajoy. He spoke of the need for calm. With all of this in mind, and remembering that it’s too early to tell for sure what will happen now, here are three reasons for British expats to stay cheerful.

1.      Two Years is a Long Time and Anything Can Happen

Article 50 of the EU Agreement was made in order to prevent the kind of panic that Europe is currently gripped by. The idea behind Article 50, something that has never actually been used yet, is that a member state has two years to fully extricate itself from the rules and regulations of the European Union.

Nobody can tell for sure if the UK will have to relinquish all of these agreements or how substitute agreements could be put into place. One thing for sure is that the people saying the UK will be tossed out and never welcomed back are completely wrong. This are definitely going to be a little more difficult for Brits looking to live and work in another EU country, but there is almost no chance at all that they will be completely cut off.

2.      The UK and Spain are Close Allies

When people get divorced they sometimes decide to stay friends for the sake of the kids. While the UK and Spain aren’t the ones being divorced they can still choose to stay together for the benefit of both countries. The “kids” in this case would be 100s of thousands of Brits and Spaniards living in the other country.

It’s best for both countries to come to an agreement that can ensure these people aren’t displaced or inconvenienced. Brits have been giving Spain their money, hearts, and souls for decades now and have been buying more property in Spain than any other European country. They were friends before the EU was even a thing and they can remain friends even now.

3.      The EU is Softening Up

The EU seemed quick to tell the UK that they were gone from the EU and had to live with the consequences on their own now. Now that the dust is settling the EU seems to be softening up their approach. The German chancellor Angela Merkel has said that countries shouldn’t feel the need to be nasty when negotiating with the UK and that the country should remain a close ally and economical partner with their European friends.

While more politicians are coming to grips with the result of the referendum – where 48.1% of people voted to remain in the EU, they are realising that the needs of these people shouldn’t be ignored, no matter what the UK government things and feels. All in all we could actually be witnessing the birth of a brand new, potentially even better, partnership for both sides, which means that buying property in the Costa del sol and Spain will continue to be in demand for many years.

Monday, 4 July 2016

Spain Aims to Reassure British Expats After Brexit

Spain Aims to Reassure British Expats After Brexit

Spain and the Costa del Sol will always
be in demand with Brits 
Even though Britain voted to leave the EU it will be at least two years before anything changes for Brits living in Spain. The country is also eager to make arrangements and agreements to further reassure expats.
The final outcome of the EU Referendum in Britain came as a shock not just to the half of Britain that voted to remain but Europe as a whole. The acting Prime Minister of Spain, Mariano Rajoy, said that we must get through these times of uncertainty with calm and serenity.
He addressed the nation publically via a televised address in which he aimed to reassure Brits and Spaniards alike that there were to be no immediate changes, adding that it would be at least two years before any tangible changes came to pass. The formal notification of the Brexit still hasn’t happened yet either.
During this two year period the security and legal relationship between the UK and the rest of the EU isn’t going to change at all. So for the next two years at least there are to be no changes to pensions, free movement, electoral rights, and employment rights, along with the right to invest and buy Spanish property. These rights are safe until at least 2018.
Those two years are no doubt going to be filled with uncertainty however. The UK is keen to renegotiate some of their relationships with the EU. No one is quite sure how everything will end up after everyone lets go of their anger and stops blaming everyone else it’s entirely possible that Spain and the UK can come to an arrangement that benefits both countries.
As Brits are the biggest investors in Spanish properties and one of the driving forces behind the rise in the Spanish economy it only makes sense to arrange deals. Brits are also the largest group of tourists heading to Spain on their holidays.
Spain has an awful lot to lose if they make it difficult for Brits so it’s unlikely that any major changes will happen. The key features of the so-called “Divorce Agreement” are matters concerning budgetary and trade issues; though of course rights and regulations are also high up on the agenda.
When it comes to working, living, and investing in Spanish property, it would seem that keeping things how they are would be best for both nations. There are plenty of reasons for expats and citizens of both nations to remain cautiously optimistic.
The alternative – one in which Spain makes it difficult for Brits to buy property in Spain – would only benefit France, Portugal and Greece. Brits are still interested in buying property overseas and so other countries may try and make it just as easy as it always was for them to buy property there. They may actually make it easier with incentives. The “Golden visa” is a great example of how money talks in the property market.
There are some bigger concerns too; especially the concerns of expat pensioners. These concerns are mostly about their rights to access pensions and healthcare and they definitely present a concern. British retirees living in Spain currently have their pensions rise with the rate of inflation; part of the EU Agreement. It’s quite likely that this increase will no longer happen now that the UK has left the EU.
It’s also likely that the reciprocal healthcare enjoyed by Brits and Spain will come to an end, or at least change. There may still be some kind of “amnesty” for British pensioners living in Spain at the time of the Brexit or, at the very least, favourable terms for cheaper health insurance. Provided that the UK is willing to offer similar services to Spaniards in the UK in return.
As long as the Leave campaign fulfils their promises and the NHS gets a boost this seems likely to happen. If you’ve ever been treated at a British hospital then you know that the NHS is free at the point of use. With Britain leaving the EU this looks unlikely to change. It stands to reason that Britain will argue if they provide Spaniards with free healthcare that Spain should do the same in return.
There are a lot of unknowns about the Brexit and there will no doubt be more uncertainty before we know for sure what will happen. The British people have voted and, even though the result was a shock to many people in Europe, things will continue to change and we’ll have to wait and see what comes next.

Regardless of the Brexit outcome, Spain will always be a country that northern Europeans want to buy property, live and holiday in. why? because the sun will always shine here.