Saturday, 22 April 2017

Data Forecasts Spanish Unemployment Drops Below 17% for First Time in Years

Data Forecasts Spanish Unemployment Drops Below 17% for First Time in Years

Its official when the economy is moving in the right
direction unemployment drops drastically
Spain saw unemployment soar to the record rate of 27% in 2013, but is now looking at ending 2017 with less than 17% unemployment for the first time in years.

While there is still the myth that the Spanish economy is still stagnant, official figures from government and European bodies show that Spain has been one of the strongest economic performers in the continent for the past 18 months now.

While 17% unemployment could still be considered pretty high, in relative terms it means Spain is on course for another year of strong economic growth. The rate of unemployment fell to 18.6% in 2016, and it’s predicted that it could fall another 2% during 2017; which would mean over half a million more people in work.

This was the message spread by the Spanish Economic Minister Luis de Guindos last week. The Economic Minister admitted that the unemployment rate in the country was still inadequate, but was still very bullish overall on the long-term prospects.

Economic growth topped 3.2% GDP in 2016, with similar levels of growth expected for this year, and a further +2.5% growth expected for the next four years. The queues in the job centre are getting shorter, and thousands of educated Spanish youth are returning from Germany, the UK, and wherever else they have been, creating what economists feel is more of an opportunity than a burden.

Youth unemployment in Spain is still one of the highest in Europe, reaching over 25%, but there has been plenty of recovery in other industries; evident by the rising number of Spaniards being issued with mortgages. This has left the Spanish youth more confident about their chances of securing a bright future in their home country.

Friday, 21 April 2017

Leading Bank Predicts 2.5% Rise in Spanish Property Prices This Year

Leading Bank Predicts 2.5% Rise in Spanish Property Prices This Year

The future is looking bright for property owners in Spain
Leading bank BBVA – in their latest property market analysis – predicted Spanish property prices are due for an average increase of 2.5% this year, with the Spanish economy continuing to improve and the number of unsold homes continuing to dwindle.

Conditions as far as both metrics went improved drastically during 2016. It’s expected that Spanish GDP will grow another 3% during this year, putting many domestic and international buyers alike in the perfect position to buy their Spanish home in 2017.

BBVA bank also expects that – as a result of low mortgage rates and reduced numbers of unsold properties – that more property transactions will take place this year. It might not be as sharp as the 13.5% increase from 2016 (which some experts believe could be actually be as high as 19%), but it will still be impressive.

All in all, it’s expected that over half a million properties could be sold in Spain during 2017, with many of these purchases financed through Spanish mortgages. BBVA did issue a warning that these low interest rates aren’t forever, and are already expected a downturn in the amount of mortgages issued in 2018 as interest rates start crawling up.

Thursday, 20 April 2017

Broaden Your Horizons by Retiring to the Costa del Sol

Broaden Your Horizons by Retiring to the Costa del Sol

with the quality of life and over 300 days of sunshine its
no wonder retiring to Costa del sol is so popular
Advertisers might try and pretend otherwise, but there’s no such thing as a single kind of retiree. Some retirees are richer than others; some of them are married and some of them are single; some are excited about the prospect of retirement and are looking forward to adventure, while the more exotic retirees are picturing relaxing by the pool with their third fruit cocktail.

There are many different kinds of retirees, but they do have one common feature; they all run the risks of having a closed mind. It’s only natural for a retiree to find comfort in what they know after living, working, and raising children for as long as they have.

Even so, retirees who rein in their horizons like this run the risk of missing out on some fantastic opportunities. If a retiree has enough financial security, then they owe it to themselves to finally live their dream of retiring to the sunshine of Spain.

There are a number of reasons that the Costa del Sol is the ultimate destination for turning this dream into reality. The Costa del Sol has a ride range of affordable and high quality properties on offer, but the perennial popularity of the region allows it to cater to any age, culture, taste, and budget.

Is your ideal retirement one where you can live out your twilight years with your friends and family without being a few paces away from your pool and sunlounger? If so, then the Costa del Sol is for you.

If you want to spend your retirement learning other languages, immersing yourself in other cultures, and broadening your social circle, then the Costa del Sol is for you.

If you want to find a comfortable home base to live out your wanderlust, then southern Spain is the place to be. No matter which direction you go in, you will be faced with the beauty and adventure of Spain; from exotic Morocco in the south, to the dry inlands of the Spanish plateau and the mountains of the Sierra Nevada, to the rich culture found in Sevilla, Cádiz, and Granada.

If this wasn’t enough, the Costa del Sol also has one of the best and busiest airports of Spain on its doorstep, meaning you’re never too far away from a trip back home.

Wednesday, 19 April 2017

Spanish Mortgages Hits Five Year High for January

Spanish Mortgages Hits Five Year High for January

The mortgage market is back and more and more are being approved
Recent data from the Spanish National Statistics Institute (INE) revealed 27,240 new mortgages were issued in January in Spain – making it the most issued in a single month since January of 2012.

The figure was also an increase of 16.9% over January of last year, giving credence to the prediction that 2017 could be even stronger for the Spanish property market than 2016 was.

The data from the INE shows that the average mortgage in January was worth €112,844, an annual increase of 6.4%. This figure also shows the increasing confidence of Spanish banks in the economy and property markets, as more banks than ever are loosening their purse strings.

It also shows that the average home buyer is in a better financial position, whether they be native or foreign. 36.8% of the mortgages issued in January were fixed-rate mortgages offered at the Euribor rate – a great option for young buyers with smaller deposits.

16 of the autonomous regions of the country saw year-on-year increases in mortgage activity during January. The only region that didn’t follow the trend was Castilla y León. Galicia, the Balearics, and Asturias saw the largest increases, with over 30% more mortgages issued in January 2017 than in the previous year.

If the previous 12 months were taken as a running total, the Spanish mortgage data shows an increase on the prior 12 months of 14.6%; with 285,000 mortgages issued in the past 12 months.

Tuesday, 18 April 2017

15.5 Million Tourists Expected to Reach Malaga Airport in Bumper Summer

15.5 Million Tourists Expected to Reach Malaga Airport in Bumper Summer

Malaga Airport – the airport serving the Costa del Sol – is set to see more records broken in 2017, according to the director of the airport Salvador Merino.

Its predicted to be another record breaking year
The airport recorded some 16.6 million passengers last year, and this year the director is predicting that 15.5 million passengers could enter the airport during just the summer months of this year; leading to a total of over 18 million passengers by October.

The airport director did admit that there were several factors that could affect the demand, but he also revealed around 90,000 flights are expected between the summer months of May and October, which is around 500 flights per day.

Several tour operators are analysing the trends from the start of the year, leaving them just as hopeful for another bumper summer season for Spain. Malaga airport is welcoming more flight routes and flight times to deal with the demand which is coming from not just the UK, but also from Belgium, Scandinavia, and the Netherlands.

The Malaga airport will serve a record 126 destinations by the summer, with 62 of these locations based in the UK (an increase of 9% over 2016), which only highlights the fact that Brits make up the bulk of foreign tourism and are the most predominant second-home owners in the Costa del Sol.

Malaga has also seen a 20% increase in connection routes to Germany and Italy in the past year, a statistic highlighting the growing popularity of Spain around the whole of Europe. Data published in February shows that Malaga airport welcomed some 867,382 passengers during January – an increase of 18.4% over January of 2016.