Spain Welcomes Record Numbers of Tourists and Foreign Property Activity in First Half of 2017

Spain Welcomes Record Numbers of Tourists and Foreign Property Activity in First Half of 2017

Spain has had another record breaking summer 

The Spanish property market and tourism industry is performing as well as ever, according to the latest data from Jones Lang LaSalle (JLL) and the National Statistics Institute (INE). The data shows that several records were broken during the first half of 2017. 

Foreign investment in Spanish properties was pushed up to €888 million during the first half of the year, much higher than the amount spent during the first half of 2016; a paltry (by comparison) €330 million. 

JLL believe that overseas investors will snap up over €1 billion in Spanish property during 2017, which would make 2017 the eight year in a row where foreign investment in Spanish real estate has increased. 

Spain has been moving at full speed as far as tourism goes for several years now, but the latest data from the INE shows some 36.3 million tourists visited Spain during the first half of the year – which is the time BEFORE the busy summer months of July and August. 

This puts Spain in the position to smash through records set last year, and could mean over 80 million tourists visit the country in 2017, which would push Spain into the top spot for global tourism. 

There was another trend evident in the data; the connection between foreign property ownership and tourism. Around 8.5% of the tourists staying in Spain in 2017 did so in their own holiday accommodations; properties that had been purchased to be holidayed in. This marks the highest this figure has ever been, and it’s only going to increase.

It’s been a decade since the real estate crisis happened but now the Spanish property market appears to be thriving. People see the benefits of owning a Spanish property such as being able to better enjoy holidays and to relocate entirely. There’s no doubt Spain is set to see another record breaking year for international investment.

Madrid Welcomes First Nap Bar in Spain

Madrid Welcomes First Nap Bar in Spain

Does the new nap are have any legs ? 

Spain treated the world to the siesta, and the world responded with the soul-crushing 9-5 office life. Spanish workers were forced to burn out in a strip-lit open office where they can’t even rest their eyes without having someone look down on them.

The siesta hasn’t died off just yet – especially in the more rural regions of Spain – but it has become more difficult for Spaniards to find the time for one. No doubt these Spaniards are going to embrace the new nap bar opening in Madrid to cater to those looking for that blessed mid-afternoon nap.

The Siesta and Go bar is inspired by similar concepts that can be found in Tokyo, Dubai, and London; three places where everyone understands the value of a well-rested worker. 

Patrons at the bar can enjoy going an hour’s sleep for as little as €12-14 per head, with both single and double rooms on offer. Of course, these establishments might be enjoyed by patrons looking to move their office flirtations into the next level, but these nap bars are primarily intended to be used as a place for tired workers to rest and recharge their batteries. 

The 19-room Siesta and Go is located in Azca; the financial heart of Madrid. Workers are able to walk in and ask for vacancies or book a stay in advance. The rooms at the bar are similar to hotel rooms in that they are regularly cleaned with fresh bedding. Staff are ready and willing to wake you up if you have trouble getting up on time as well. 

Siesta and Go also features a lounge filled with comfortable chairs, coffee, and newspapers, allowing customers to just walk in and get awayfrom the Spanish sun when it gets unbearable.

See How The Spanish Economy Boosted By Tourism and Exports in the First Quarter

See How Spanish Economy Boosted By Tourism and Exports in the First Quarter

2016 broke all record for tourism and 2017 is looking great too

Following a strong first quarter of Spain, Spanish Prime Minister Mariano Rajoy increased the economic outlook for the country. The economy was boosted by strong performances in the tourism and export industries.

The government now believes that national GDP will increase by 2.7% in 2017, up from the 2.5% expected at the start of the year. The stronger start to 2017 has been seen primarily in data about flights, hotels, and resorts showing record-breaking levels of tourism.

The Spanish real estate market is also offering encouraging interest and activity.

Rajoy said that the recent data for the first quarter of 2017, as well as forecasts both national and international, were behind the decision to revise the growth forecast.

The optimism matches the optimism shown by the Bank of Spain, which increased its own growth forecast to 2.8% GDP, putting Spain on the course to be one of the major economic performers of Europe in 2017.

The International Monetary Fund (IMF) published their own sober – if still encouraging – GDP increase. The IMF expects that Spanish GDP will increase by 2.6% this year, which would still leave the country ahead of the UK and USA for the second year in a row.

The Prime Minister expects GDP growth to continue across 2018 and 2019, leading to around half a million new jobs added each year. The result is that another million Spaniards will be in employment by 2020.

There is still some concern over the jobless rate, with Spanish unemployment sitting at 18.6%; one of the highest in Europe. Rajoy told reporters his government is planning a budget that prioritises this figure with plans to reduce unemployment below 16% by 2018.

Find out Why Wine Consumption Increases in Spain for First Time in a Decade

Find Out Why Wine Consumption Increases in Spain for First Time in a Decade

Spanish wine is the best in the world

One of the most simple pleasures of life in Spain is drinking so wonderful wine and relaxing by the side of a pool, on the beach, or in a bodega.

Even so, the reality is that wine consumption in Spain has been falling for the past few years. No one understand just why it happened either. The economy might have been partly to blame, of course, but people will often turn to affordable, simple treats during tough times so they can get through them easier. There’s nothing quite as cheap in Spain as local wine.

There is also the suggestion that Spanish wine has become boring and staid, especially among the younger generation. Younger Spaniards appear to prefer drinking spirits like rum and gin, and beers, rather than wine.

However, in 2016, it looks like this trend is reversed. The latest data from the Spanish Wine Market Observatory (Observatorio Español del Mercado del Vino) showed a 4% increase of Spanish wine consumption, with a total of 9.8 million hectolitres consumed.

Spain is the present world leader in producing wine, with a total of 42 million hectolitres made each year. Even though Spain is the leading producer of wine, it’s one of the lowest as far as consumption goes when compared to other top producers. By 2014, the annual wine consumption in Spain was just 21 litres per head; down from over 40 in 1970.

The figure has now risen to around 22 litres per head, which puts it on par with the UK, but still very far below the average annual wine consumption in the other leading wine producing nations of Europe.

The official shows, for example, that Slovakians and Croatians are drinking around 44 litres of wine each per year. The French are drinking around 42.5 litres, while the Portuguese are drinking 41.7 litres and the Italians are drinking 33 litres.

While these countries might have high average wine consumptions, they all pale in comparison to The Vatican. This small country has an average wine consumption of 53.83 litres per person per year.

Spanish wine regardless of the consumption with young people still represents some of the best wine in Europe due to quality and price.

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.

Spanish Unemployment Down to Below 20% for First Time in Six Years

Spanish Unemployment Down to Below 20% for First Time in Six Years

Encouraging news for spain as unemployment carries on falling

There are plenty of signs that the Spanish economy is getting back on track and one of the latest concerns the state of the Spanish job market.

For the longest time now Spain has seen unemployment levels that are much higher than the Eurozone average. Now the most recent data says that Spanish unemployment is at 18.9% and it’s a pretty significant number. This rate might still be higher than France, Germany and Belgium but how much unemployment has fallen by is encouraging for Spaniards.

Even two years ago the Spanish unemployment rate was around 30%, which half of youths unemployed. Now Spain can say that they have finally put an end to the times when unemployment in Spain reached 1-in-5.

The data comes from the National Statistics Institute and it shows that there are around eighteen and a half million Spaniards in employment. As you might expect the tourism, construction and manufacturing industries all reported strong growth during the summer. Over 220,000 jobs were created in the tourism sector along in the past three months. While it’s true that some of these jobs were only temporary seasonal work, there were still more long-term jobs offered than in the past few years.

When the end of the third quarter came the INE calculated that only 4.32 million Spaniards are currently unemployed, and only 27,300 people found themselves laid off over the quarter. During this same period some 217,700 new positions were opened up in the private sector. Even the public sector added 10,000 new jobs despite being left rudderless for the past ten months due to a lack of government.

Spain is pretty much back to normal now following the drop in unemployment to below 20%. Because Spain is such a regional country that changes with the seasons unemployment levels have always hovered around 20%. The unemployment rate only dropped below 15% during the economic booms before and after the turn of the millennium.

From all perspectives it looks like 2017 will see even more people in work in Spain as it’s expected the economy will grow by over 3% next year. All of the signs are very encouraging and if it all goes well it should also lead to more confidence from consumers and investors in other leading Spanish industries such as the real estate sector.

Spanish Mortgage Activity up 19% in the First Half of 2016

Spanish Mortgage Activity up 19% in the First Half of 2016

Spain has certainly moved in the right direction and

the next 7 years are fantastic for buying property

The data from the Spanish National Statistics Institute (INE) is available and it shows that 146,605 mortgages were registered up to June 30^th 2016. This is an increase of 19% in a year-long period.

When you look at the past 12 months as a whole you’ll find that over 270,000 mortgages were approved in Spain during this period, which is also a 19.1% increase compared to the previous year.

In just June there were 25,274 mortgages approved, which was a major 15.5% increase year-on-year. The amount of money loaned was also up 7.5% over last year up to €112,516.

This data confirms what studies and market reports have been telling us all year; there is a significant boost in the amount of interest in Spanish property in 2016. 2016 also saw property prices stabilise as confidence and stability returned to both the real estate industry and the Spanish economy as a whole.

Many of these mortgages are offered at fix rates because the Euribor rate, which regulates repayment terms for much of Europe, is currently low. The result of this trend is that more people are buying homes. In fact data from the Official College of Property Registrars of Spain has shown that382,000 property transactions took place in the 12 months leading to June 2016, which is the highest number of property transactions in five years.

Number of Spanish Homes Sold in First Six Months of 2016 Highest Since 2010

 Number of Spanish Homes Sold in First Six Months of 2016 Highest Since 2010

Thanks to a combination of low interest rates, affordable property prices, solid mortgages and a strong economy, Spanish real estate has never looked so attractive.

Spanish property sales continue there upward trend

The Spanish daily El País are reporting that the number of Spanish homes sold in the first six months of 2016 is the highest it’s been since 2010.

June saw a total of 36,856 real estate transactions across all of Spain and it looks like the summer months are going to see the trend from April, a month where sales growth year-to-year topped 19%, continue.

Growth was up 19.5% in June compared to June 2015, which also marks a three-year high for June. During the first six months of 2016 around 207,593 houses have been sold in Spain, according to the Economy Ministry. Most of the real estate activity has come from the five biggest cities of Spain; Madrid, Barcelona, Valencia, Alicante and Málaga. Málaga shouldn’t come as a surprise as they have the ever-popular Costa del Sol nearby.

VIVA already reported that foreign investment is responsible for a lot of this activity with real estate and construction making up a third of the €22 billion spent in Spain by foreign nationals.

The Institute of National Statistics did further analysis that showed the demand is increasing for luxury properties in Spain – something the Costa del Sol has in spades – as the economic recovery of the country is beginning to mirror the recovery being experienced by much of the western world.

Research undertaken by Bankinter suggests that the demand is only going to continue to increase. They released a report last week forecasting that Spain will see over 480,000 more property transactions in 2016, which would be a 10% increase over 2015. The bank also predicted that property prices will increase between 3-5% annually.

Experts are in agreement that the low interest rates are doing more than just encouraging spending. They are also making property investments in the Costa del Sol and Spain more attractive than regular savings bonds. All of this should lead to a strong 2017 and beyond for the real estate industry and Spain as a whole.

Spain Sees First Heatwave with Temperatures Reaching 42ºC

Spain Sees First Heatwave with Temperatures Reaching 42ºC

The summer has been sizzling for some time in the Costa del sol 

With temperatures getting pretty high inside the country you may want to head out to the beach in Spain and places like the Costa del Sol.

There used to be a saying that you would know when someone had an iPhone because they would tell you. While the phrase doesn’t quite work anymore, as many people have iPhones and have stopped bragging about it, there are some alterations that still hold true. Such as knowing it’s hot in Britain because every single brit will delight in telling you about it. Every. Single. One of them.

If you’ve been living under a rock then no doubt you know that the UK has seen a bit of a heatwave in the past week or so with temperatures reaching, and sometimes going above, 30 ºC and prompting everyone to show off how red they’re getting or updating everyone on how they’re enjoying an ice cream in the park. Don’t forget all the people complaining about the weather and how they just aren’t cut out for it.

The Brits are kind of cute when it comes to this. They never get sunshine and warmth to this degree and even though millions of them head out to Spain for weather just like this they get really confused when it happens at home rather than abroad.

Speaking of Spain you should spare a thought or two for the Spanish who are having to endure heatwaves of their own. The Spanish weather agency Aemet is reporting that temperatures in Spain could reach as high as 42 ºC this week. It’s not incredibly rare but it’s definitely not common for mid-July.

This may be the time of year when records are broken but any amount of time where temperatures go above 40 ºC could be classed as a heatwave, even for a naturally sunny country like Spain.

There are 38 Spanish provinces that found themselves in high alert for the temperatures, with 13 of them also being classed as “high risk”. High risk means that the heat could be so bad it can damage health, particularly for the old and infirm. All the dry air also increases the chances of forest fires starting and it would hardly be the first time a forest fire was started by a heatwave.

Marbella Showcases the World’s First Revolving Solar Homes.

When you get right down to it the entire world is solar-powered. Everything on Earth draws some energy from the sun. Everything that has ever existed, from rocks to oceans, to forests, to the industrial revolution, and even the Beatles and Benedict Cumberbatch, they all owe their existence to the Sun.

Marbella solar homes for sale

Today when you think about solar power you think about solar panels. The Spanish government has proven to be infuriatingly regressive on the issue of solar power. They even introduced a sun Tax in Spain that punishes people who choose to install solar panels on their roofs.

A Marbella based company has come up with an idea to solve this problem though and help people get around this “sun tax” while still enjoying the benefits of clean and powerful solar energy.

The company is Sunhouse360° and their home literally rotates every 15 minutes to give each room the maximum amount of sunlight throughout the day.

Property for sale in Andalucía and all of southern Spain sees so much sunlight that this kind of creation can reduce energy bills by up to 70%, at least according to the company. This is because of the floor-to-ceiling windows that cover the entire home, and an interior layout designed to let in as much sunlight as possible.

Home owners can choose from different sized properties and can also have photovoltaic panels installed on to the home as well. This will combine the thermal energy of the sun with regular solar photovoltaic powered electricity.

The houses for sale in Costa de sol have a understandably high price of £753,000 (+IVA) at first, but this will get you a 250 square metre property that won’t cost nearly as much to run and maintain.

How often, and how quickly, the house rotates has been programmed to make sure that the home owners don’t even feel the rotation. Sunhouse360° have also said the homes should be programmable to let owners set a rotation frequency that suits them.

Sunhouse360° believe that having sunlight in the home is very beneficial and that it is possible to change so that the light reaches the entire house. Or, if you wanted to, it can be programmed so that light I always in the kitchen.

The idea for the home was first developed over two years ago and it is believed that the homes will be available in early 2016.

The Costa del Sol homes for sale are also programmed with “eco rotation” software. This software will detect which parts of the house are the coolest and bring it into the sunlight. It is designed for when the homes reach more northern climates but is still effective in the southern areas, where it turns the warmer areas of the house away from the sun to keep the whole property cool.

The Sunhouse360° makes use of virtually everything that makes property for sale in Marbella and the area such a great tourist destination; innovation, sunlight, and property. It’s going to be interesting to watch as these Costa del Sol homes for sale pop up all across southern Spain.

The future looks bright for the Costa del Sol property market.

The Company That Gave Us The World’s Largest Outdoor Swimming Pool Set to Dive Into First European Project.

 

Crystal Lagoons project will be a fantastic for the whole Costa del sol.

Crystal Lagoons, the real estate giant that gave Chile a pool over 11 football pitches wide, is bringing something similar to Casares in the Costa del Sol. 

They plan on constructing a €121 million luxury resort complete with the largest pool in Spain and  Europe, surrounded by 450 homes.

The Alcazaba Hills Laggon will measure a hectare and a half and will be a great destination for swimmers and other watersports in Spain.

It’s going to take an estimated eight months to build. The site has now been closed and, at one point, was going to become the Spanish Themed park of Disneyland.

There are plans to build another 350 properties as well as make use of an unsold 100 properties that have been there since 2009.

The plans bring some optimism back to the formally abandoned development and will target wealthy European tourists, especially those in Britain, Germany, Scandinavian and Dutch countries.

The regional director of Crystal Lagoons, Sebastian Pillado, says that Crystal Lagoons can use their technology to create the beach lifestyle anywhere in the world and has the potential to bring life and hope too many unsold and empty projects.

The property landscapes in Estepona, Mijas and Property-for-sale-Marbella has had a magnificent year so far with €376 million in investments scheduled so far.

This is great news for southern Spain and the Costa del Sol as property for sale along the coast as turned a corner and the coming years look very exciting if your a property investor to say the least.