Saturday, 17 December 2016

Property Sales in Spain Reach Second-Highest For Five Years During Third Quarter

Property Sales in Spain Reach Second-Highest For Five Years During Third Quarter

The Costa del Sol and Spain continue its property recovery
The latest data from the Spanish property registrar shows that a total of 103,055 homes traded hands in Spain between July and the end of September; representing the second-best quarterly performance in Spain for five years.

When compared to the third quarter of 2015 there were 11.1% more homes sold in the third quarter of 2016 as the property market became more active during 2016.

The third quarter was also up 4.4% over the second quarter of 2016 and showed the trend of each quarter being stronger than the last has continued since it began in 2010.

When you look at the 12 months leading to September there were 394,000 homes sold in Spain overall. This is an increase of 13.2% over the previous 12 months. 2015 itself was also a continuation of the growth the market saw in 2014, which is when the property market began to recover from years of contraction.

To look back even further shows that the amount of homes sold throughout Spain in the third quarter is the second-best quarter for five years; beaten out only by the fourth quarter of 2011 in which there was a mass fire sale of distressed properties.

Many experts expect that this upward trend will continue on into 2017 and the years after; thanks to the economic recovery of Spain and the consistent appeal the country has for being a premier destination for going on holiday and purchasing property to the people of Europe and the world as a whole.

Not everyone was feeling the positivity however as the data showed that the average price for property sold in the third quarter was 1.4% the average price from the second quarter.

Experts explained away the shrinking average price – prices in Spain have been increasing for around 18 months now – saying that it was mostly due to a shrinking number of new build homes being sold. New build homes are usually more expensive than a resale home and so they can provide the average sale price with a healthy boost.

The data from the registrar shows that only 17.1% of the homes sold in the third quarter were new builds, which was down from the 21% from the quarter before.

Even though there was a small fall in the average property price your average home in Spain is still being sold for around 3.3% more than it was this time in 2015.

Friday, 16 December 2016

Five Ways to be a Happy Expat

Five Ways to be a Happy Expat

Spain is one of the most open societies and more
and more Expats are moving to Spain
It can be quite peculiar to live life as an expat in Spain. You have the opportunity to be somewhat of an ambassador, while also the anxiety that comes with living somewhere brand new and different.

Unfortunately there is no single path to success for expats. Putting in more than you take out, keeping your mind open, and leaving the people you meet and the places you stay richer is certainly the ideal but it’s just that; an ideal. The reality of expat life is often very different. So why not focus on being a happy expat rather than being a perfect expat?

Here are five ways to be happy expat and ensure that no matter how long you live overseas, you’re happy for having done it.

Don’t be so Hard on Yourself

You’ve probably already met the perfect expat; they are able to move between English and Spanish at the drop of a hat; have a wide range of friends from the world over; they get involved with the local community but still raise their family and, to top it off, they have a brilliant car. There’s someone like this in every expat community. There’s someone who seems to have made it without any effort at all.

It’s incredibly daunting for you to be around these people, but you should go easy on yourself. You can’t imagine the ways that life overseas will test you. Some people are able to thrive and really prosper in the brand new environment and some people have a harder time of it. Never forget that you are who you are; if you were introverted back home you will likely still be one when living abroad. That’s just who you are and you need to remember that.

Be Open Minded and Willing to Leave The Comfort Zone, But Only if it Suits You

With that said there’s still no better chance to broaden your horizons and try something new than when you move overseas. It’s obvious you’ll meet a new language, see new faces, and try new foods; these are unescapable facts of expat life. There’s plenty of other new things to try though; the new surroundings you live in have the potential to get new hobbies, learn new skills, or chase that dream you gave up on long ago because there’s no one to around to judge the “new you”.

It’s truly liberating. One of the best things about living in a new country is that you are able to try all of these new things and figure out just what you want to get out of your new life and how you want to live it.

Be Magnanimous and Avoid Taking Sides

When you become an expat you have the country you were born and the country you live. It’s likely that you’ll come to see what’s good and bad about both countries with a kind of clarity you never had before. If you want to be a truly happy expat you need to avoid taking sides. Don’t complain about your old home because you will get home-sick eventually. You should also take off the rose-coloured glasses and avoid thinking that life back home wasn’t all that bad. Remember that you moved away for a reason; remember that reason.

With this said the country you move to is going to delight and annoy you in equal amounts. So for the sake of your sanity, and the sanity of those around you, that there’s nowhere that is truly perfect and no one wants to hear you boast or complain about how your new life is going.

Keep Things Balanced While Still Enjoying Variety

When you move to a new country you will be tempted to avoid expats that come from the same country as you. This urge can be understandable but sometimes it’s just irrational. You don’t want to find yourself stuck with an expat who sees you as fresh meat that they can invite along to anything and everything, but at the same time there’s not much better than sharing an evening with someone who have the same cultural background as you.

It’s important to find a balance. You shouldn’t avoid the British pub; just don’t spend every evening there. Take a trip to the tapas bar and the bodega. Make some local friends and find time to visit the establishments and enclaves of other nationalities. Having such a diverse range of influences and opinions is part of the fun of being an expat so allow yourself to embrace it.

Head Back Home When you Want; Flights are Pretty Cheap

Brits living in Spain have it pretty easy when it comes to flying home regularly. It’s easy and cheap to fly from Malaga airport to the UK all through the year. Make use of these cheap flights. Keeping up your connection to the mother land will ensure you enjoy both destinations as much as possible. Regular visits home stop you from getting too homesick and it can be liberating to leave that expat bubble you’ve been living in every so often.

Thursday, 15 December 2016

Spanish Mortgage Activity up 10% in September

Spanish Mortgage Activity up 10% in September

The property market continues its recovery in the
Costa del Sol and Spain
There’s been more good news for the Spanish property market with the publication of the latest official data. It showed that the amount of mortgages approved during September was up 10% over last year.

The data from the National Statistics Institute (INE) shows that 26,667 mortgages were approved in September, which is further proof that the property market in Spain has managed to recover from the damage of the credit crunch.

The data is also a continuation in the positive trend changing the face of the industry across the past 18 months, as well as a confirmation that property prices are still increasing, along with confidence from both consumers and banks.

The data from the INE showed that there was also an increase in average loan capital during September. This was up 2.2% to €113,193, the highest that it’s been for over five years. The news was positive in every one of the 17 autonomous communities of Spain. The Canary Islands in particular reported there was a massive gain in approvals with an increase of 45.2% compared to last year.

The story in Andalucia, Catalunya and Madrid was pretty similar. These property markets are being boosted by an increase of both domestic and foreign buyers in Spain.

When you look at the last 12 months the number of mortgage approvals in September brings the total number of approved mortgages up to 270,000; an increase of 13.1% over the previous 12 months. The data for the first nine months of 2016 shows that there were a total of 212,587 mortgages approved, which is an increase of 12.6% over this period in 2015.

Wednesday, 14 December 2016

Study Finds Spain Smart Choice for Expats

Study Finds Spain Smart Choice for Expats

With the cost of living being so low and the excellent
Spanish lifestyle, its no wonder why more people
want to live in Spain; a credit comparison website, has looked at data from across Europe to finally answer the question of which countries in Spain offer Brits the best place to live. To the surprise of very few Spain scored pretty highly.

The website put together an infograph looking at the various metrics Brits consider when choosing amongst the top ten most popular countries in Europe to live.

These metrics included the average salary, weekly hours worked, and paid leave. Germany might have topped the poll – scoring well for salary and average amount of hours per week worked – Spain still came in third; just behind France.

The Infograph shows that Spain has an average annual salary of €27,000, which is equal to the average salary of the UK. While the Spanish are working slightly longer than Brits on average, and they have less paid leave, Spain is also a much cheaper place to live; ranking 73 out of 100 for cost of living (Britain ranked 100).

When you include that Spain has more public holidays than Britain and it just makes the country even more of an attractive choice. made surveying Brits part of the study. They asked Brits what motivates them to want to emigrate in the first place. One third of those polled felt they were overworked and half of them felt they were underpaid.

While Spanish wages might not be much higher, there is a reduced cost of living. So even if they were to earn exactly the same wage Brits would have more disposable income and an excellent Spanish lifestyle to enjoy it on.