Priciest Spanish Property Neighbourhood Found in Costa del Sol

Priciest Spanish Property Neighbourhood Found in Costa del Sol

La Zagaleta in Benahavis is some one of the most

expensive areas in Spain

Variety is the name of the game when it comes to the Costa del Sol. Ibiza might have all the clubs, Majorca might have all the cycling, the Canaries might have stunning weather, and Costa Blanca might have the beaches, but the Costa del Sol puts it all together and even does some things better.

Costa del Sol property is no exception. Madrid has some of the most prestigious Spanish streets, and the inland pueblos of Andaluccan help you get the most for your money, the Costa del Sol offers a lot at both ends of the spectrum.

The latest data from nationwide estate agency Idealista analysed data about Spanish home prices and found that the most expensive neighbourhood of Spanish property is found in none other than the Costa del Sol.

The name of the area is La Zagaleta, an urbanisation nestled in the verdant hills off Benahavis. Property there costs an average of €5.6 million and it’s hardly surprising. The gated communities around here are where you can find the richest, most famous people in the world.

There are several reason that La Zagaleta draws in these elites, and the exclusivity of the area is reflected in the property prices. There is a superb climate here, along with some fantastic views of the Mediterranean, incredible accessibility to all the best clubs and restaurants of Puerto Banus, and – of course – seclusion. There are no prying eyes or flashing cameras, and some of the villas come equipped with a helipad allowing the people living there to be as secretive as possible when it comes to arriving and leaving.

Outside of the Costa del Sol, the La Moraleja neighbourhood of Madrid is the second-most expensive postcode in Spain with average property prices of €5.05 million. After this comes the Castillo de Aysa of Madrid with €5 million, and the Avenida del Tibidalo in Barcelona coming fourth with average property prices of €4.83 million.

Data Shows 48% of Brits who Moved to Spain Last Year were Retired

Data Shows 48% of Brits who Moved to Spain Last Year were Retired

Regardless of Brexit, Spain continues

to be the choice of retirees

The latest data from the Spanish Office of National Statistics (INE) showed around half of the 300,000 British citizens that moved to Spain in 2016 were retired. 48% of them were retired.

According to the data, three times as many Brits moved to Spain across 2016 than Spaniards moving to the UK. The demographics were also vastly different. Most of the Spaniards moving to the UK are aged 40 or under.

The amount of retirement-age Brits living in Spain has more than doubled across the past decade. Spain has become the destination of choice for British retirees because of the warm climate, affordable property, cheap flights, and EU membership, ensuring that pensions are index-linked to inflation and grow each year.

British pensioners also stand to receive free healthcare in Spain due to reciprocal agreements between Spain and the UK. The UK has become an attractive choice for young Spaniards seeking to advanced their careers and improve their English skills.

The data from the INE showed 22% of Brits registered in Spain were also employed in the country, with most of them working in hospitality or catering.

It seems that Brits like to live on the coast, with the Malaga Province – where the Costa del Sol can be found – is a perennial favourite; bringing in over 100,000 new UK immigrants across 2016.

The data also revealed Brits took an astonishing 13 million visits to Spain in 2016 (with a “visit” classed as any stay under 28 days), much higher than the 849,000 visits Spaniards made to the UK.

How Spain Lead in Weather, Energy, and Employment This Summer

How Spain Lead in Weather, Energy, and Employment This Summer

August in Edinburgh is a time for comedy and performance arts on the chilly streets during the Fringe Festival. In France it means that it’s almost impossible to reach anyone in any office as the whole country seems to flock to the campsites across the southern reaches of the country. For the British and the Germans it means getting away from the unpredictability of their own weather and heading to the warmer climates of Spain.

All of this seems to go down like clockwork each year, but Spain has a few tricks ready to make sure this year is even more impressive.

The first of these is pretty obvious, as the mercury could reach beyond 40C for holidaymakers relaxing on the Spanish shoreline. Some places, such as the inland regions to the south, could experience temperatures all the way up to 45C.

This is the kind of heat that – while not the highest it’s ever been – is still well above average. The temperatures could also mean that Spain is currently the hottest country in Europe; which would be quite the accolade given the heatwaves affecting much of the southeast of Europe.

There’s more than just this however. Spain isn’t content with topping the charts for just the temperature; posting a drop in unemployment for the sixth month in a row. This means the country has seen a much more sustainable rate of recovery for employment than any other European country.

Spain still isn’t finished. This week it was revealed that Spain will be closing its oldest nuclear power plant as there isn’t enough support from local people and politicians to keep it open. The Santa Maria de Garona plant to the north of Spain hasn’t been active since 2013, and is now set to close officially as Spain embraces renewable energy sources; primarily solar power and wind power.

These three things might sound disconnected, and they are in some ways. Even so, they show the bigger picture of a country that is confident, growing, popular, and making all the right choices for keeping things healthy in the long term.

Spanish Economy Growing Three Times Faster than UK

Spanish Economy Growing Three Times Faster than UK

Spain continues its incredible recovery 

The New York Times is calling it the end of a the nightmare, while other media outlets took a more sedate approach to reporting the latest official economic data from the Spanish government; not only is the Spanish economy growing, but it’s growing at a much faster rate than the rest of Europe.

It’s been almost a decade – that’s ten years – since the worst economic crash since the Second World War hit Spain, leaving millions out of work and pushing thousands to just give up and leave Spain behind. Most believed that they would be displaced for the rest of their lives, a sign of just how deep the financial abyss Spain was dealing with between 2008 and 2012 was.

But the slow, steady, sometimes painful reforms to labour and the economy has given Spain the necessary power to climb out of the slumps and post economic growth of 0.9% across the second quarter of 2017.

This figure might not sound impressive, but it’s actually a sign of incredible performance; by itself as well as in a wider context. A growth rate of 0.9% is 3 times higher than the growth of the UK, and around twice the growth of France; which saw economic growth of 0.5% during the same period.

The figure is even more impressive in context, given that Spain was one of the two countries in Europe facing a double dip recession in the credit crunch. This data from the second quarter also marks the continuation of growth pushing economic growth in Spain past 3% for the second year in a row – which would make it the best performing economy in Europe.

Spanish unemployment plummeted to 26% during the worst parts of the crisis. These days unemployment has been brought down to 17.2% and it continues to fall. HIS Markit economist Raj Badiani suggests that the growth of consumer spending regained momentum during the second quarter following strong job creation and the overall financial climate.

It seems the strong performance of Spain may give some inspiration to the new President of France Emmanuel Macron, who is currently considering introducing labour reforms to France that are similar to those employed by Spain since 2010; including loosening employment laws that made it easier for companies to lay off their workers. This has had an effect of companies becoming more willing to hire new staff, knowing that they are not tied down by long-term employment contracts.

The reforms have helped boost the manufacturing sector of Spain, boosting the export economy of the country. Exports are now accounting for around a third of Spanish economic output, higher than the less-than-one-quarter seen a few years ago.

As exports are on the up, the local governments of Spain have also been able to increase tax takes, with the money spreading into the wider economy; as seen in the increase of infrastructure projects being constructed nationwide.

Spain has picked itself up and is looking healthier and more stable than ever.

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

The next few years looks very bright for Spain

as I continues its recovery 

Figures don’t mean much out of context, which is why the recovering GDP of Spain may sound good, but people could be left cold without understand just what everything means.

As the economists are cheering a projected 3.2% increase in Spanish GDP for 2017, the average Spaniard, along with expats and holidaymakers, are left wondering what it all means for them.

To put things simply, it all means that there are plenty of new opportunities for employment in Spain, which means that consumer spending is up, tax revenue for the government is up, and property prices and supply are also up.

The latest official data, shows that the tourism and manufacturing sectors are the two key pillars supporting the economic success of Spain.

The National Statistics Institute (INE) has revealed 3.9 million people in Spain were out of work at the end of June, a decrease from the 4.25 million from the end of March. In the period between March and June, around 272,400 jobs were created across the tourism industry as the country prepares for the busy summer season.

While most of those jobs are likely to be seasonal, estimates show that around 30% of them could last for longer if the economic recovery continues.

Additional data provided by market analysts ISH Markit show that Spanish manufacturing firms had their highest increase in employment for over 19 years during July – primarily to keep up with demand for Spanish goods including cars.

This all lead to last month being the strongest month for Spanish job creation since way back in May 1998, according to the Financial Times.

To add to this, data from the Bank of Spain has shown that the average net wealth of the Spanish family is increasing by around 6.9% per year, which means not only is the average Spaniard more secure in their job with more spending money, but also it means average personal debt levels are dropping.

No matter how you look at it, the Spanish economy is no doubt going through some encouraging times, which is encouraging for the people of Spain.

Spanish Mortgage Approvals Up 19.2% in June

Spanish Mortgage Approvals Up 19.2% in June

The data continues to be good for the Spanish property market

Official notary data for June in Spain has shown that the rate of mortgage approvals for residential property increased at the highest rate in a decade. 

The statistics show that the 23,223 mortgages granted across Spain in June of this year was 19.2% higher than in June of last year. The figure means that almost half – 45% - of the properties purchased in June were financed through mortgages. 

An overall total of 51,477 homes were registered as bought in Spain in June – an increase of 17.4% over June of last year, and the second-sharpest monthly increase since back in 2007. The only month in the decade since then that topped the sales from June was December 2012, when property transactions were inflated for that month ahead of new rules for income tax to be introduced in January 2013. 

The remarkable sales figures from June are another marker of the strengthening real estate sector of Spain, which has been boosted by sustained demand from domestic and foreign buyers alike, along with the increased generosity and less strict nature of lending criteria from Spanish banks and the increasing prices across almost every region in the country. 

The notary data showed there was a 1.4% price increase in June of this year compared to last year, with the average square metre of property selling at €1,358. The average size of mortgages reflected this increase in house prices, as the average mortgage has increased 6% to €129,704 with data revealing that mortgages accounted for an average of 76% of the total purchase price of houses bought via mortgages. 

The market for new builds is also on the increase, with sales of new properties rising 10.8% in June compared to June of last year.

A Tale of the Generous Boss and What Make Marbella a “Treat” Destination

Marbella is the best place to come in Andalucia 

If you were to run a Google search for “Marbella” this week you would be inundated with pictures of happy employees from the travel and party firm Red7, who were treated by their employer to an all-expenses paid staff holiday to sunny Marbella as a reward for all their hard work.

The story has become such a hit with leading tabloids because it has everything an online story needs to be easily digested: There’s the Costa del Sol and Marbella; there’s pretty girls in bikinis; there’s the sunny backdrop; and there’s more than enough to make everyone reading it jealous.

The managing director of Red7 Ian Lucas must no doubt be enjoying all the free publicity. It also reflects well on him as the owner of a specialist in partying and travelling. It’s clear the man knows how to choose a good location, a good time, good reasons, and a good vacation length to reap plenty of excellent PR.

There’s a larger story working itself out here outside of the generous boss doing a generous thing. That is the question of what makes Marbella the destination of choice for these kinds of work-based rewards.

Now we do understand that most British firms will just spring for a hundred quid or so at a local Wetherspoons when they decide to treat their staff, but there is still the curious trend – mostly found in London recruitments, sales, and marketing companies – that looks at Marbella as being the carrot on a stick at the end of the year, the reward for hitting targets, the dream of summer that can be realised when the staff go above and beyond to boost business and make money.

There’s no denying it’s a smart strategy; work out a target that allows for a Marbella trip while still keeping the company firmly in the black. Even if it doesn’t go as planned, profits and staff motivation are still on the up.

Marbella is the perfect choice of destination for something like this. It’s close – which allows for a few days stay; unlike the Caribbean which – while appealing visually – is not worth the cost in terms of productivity and financial cost. Marbella has a reputation for being glamorous, which sure to motivate staff to see and enjoy it for themselves. The on-the-ground costs of staying in Marbella are cheaper than most people realise, and it offers a wealth of variety. Companies can hire their own yachts, nightclubs, beach bars and restaurants, or they could just stick their staff in a hotel room and leave them to their own devices until it’s time to go home.

As great as Benidorm, Barcelona, Tenerife and Ibiza are, they have either too little going on or too much (particularly Barcelona) to make them a viable destination for work reward programs. On the other hand, Marbella offers the complete package and has an undeniable level of prestige that make it stand out.

If you’re out on the beach and you happen to see some office workers packing away the cocktails, you should cut them some slack. They’ve likely worked long and hard to get there!