Costa del Sol

Who’s been buying in Spain ?


And are the British still the number one buyers ?

If you’ve been following the Spanish property market a little, wondering if the time is right to get into the market, you’ll have started to notice articles referring to signs of recovery, particularly on the Costas and Islands.

For corporates, the message is clear. Throughout the year the business pages in the Spanish press have reported on investment funds, mostly from the USA but also now from Russia and China, buying up swathes of distressed property stock.

Many Spanish banks have sold on their own Real Estate divisions to foreign funds enabling them to focus back on traditional banking and lending and Spain’s ‘bad bank’ SAREB has successfully packaged thousands of properties in bulk sales to these investment houses.

A clear sign that the ‘smart money’ has been making its moves.

But what about the traditional holiday or second home buyer? Especially when we take into account that one in five of all properties sold in Spain this year have been sold to foreigners. This is the area of the market where Britain always led the way

(63% of foreign buyers in Spain in 2006 were British).

The facts are quite telling…… Britain still leads the pack but now with only 15% of the market, followed by the French (9.8%), Russians (8.6%) Belgians (7.3%), Germans (7%), Swedish (5.6%), Norwegians (5.2%).

Compras de viviendas por extranjeoros.

So what does that really tell us? Well, it gives us a clear indication that

other nations have been taking advantage of the lower prices

and hoovering up the bargains in our absence.

Per capita, the Belgians have purchased 3 times as many properties as the British whilst Scandinavian buyers are purchasing as many properties as Brits but with only a combined population of less than 40% than that of the UK.

It’s fair to say that other nations may have benefited from more favourable economic conditions in their countries of origin, perhaps having weathered the European recession a little better. Some non Euro countries will also have taken advantage of better exchange rates.

But as the market now starts to pick up, and with Sterling stronger than it was during previous recession blighted years, we are starting to see....

the volume of British buyers returning once again to the market.

As general confidence rises in the UK, Brits are starting to look again at its most favoured European holiday home and retirement destination.

The sunny weather has been a constant, drawing tourists back in their droves. Perhaps the heat is coming back into the property market too.

03.11.2014

Andalucia leads the way as property sales start to pick up all over Spain.

From figures released to today by the INE (Spanish national institute of statistics) Sales were up 13.7% this September year on year and up 14.9% from the previous month.11/11/2014

Who’s been buying in Spain?.....And are the British still the number one buyers?

If you’ve been following the Spanish property market a little, wondering if the time is right to get into the market, you’ll have started to notice articles referring to early signs of recovery particularly on the Costas and Islands.03/11/2014

The long awaited…………Upturn in the Spanish Property Market.

The number of houses sold is up. The number of mortgages granted is up. The number of foreign buyers is up. The number of new construction projects is up and yes, in some key areas, the prices are starting to go up too. After a seven year slide...06/09/2014

Spanish Government measures for the property market.

The newly elected Partido Popular (Conservative) party has introduced a raft of measures relating to the under-performing property market. These measures are directed both at stimulating certain sectors of the market and generating extra tax revenue.08/01/2012

Spanish Government reduces VAT on New Property Purchases by 50%.

In an unexpected move on Friday of last week, the Spanish government decided to slash VAT on the purchase of new property from 8% to 4%. Applicable immediately, this discounted tax measure will last until the end of the year -31st December 2011.23/08/2011

Spanish Property prices continue to bounce along the bottom.

Many commentators have been looking to call the bottom of the market after the turbulence of the last 3 years and it would now appear that we are there or thereabouts.....19/11/2010

Tinsa estimate a further 20% drop in Spanish house prices in 2009

Tinsa, a Spanish property valuation company used by several high street banks,has signalled that house prices will drop a further 20% over 2009. 01/03/2009

Monthly mortgage payments set to drop by largest amount in five years.

The Euribor, which is linked to the Central European Bank's base lending rate, is set to close the month of December at 3.47%.28/12/2008

Offer extended. Luxury Marbella Townhouses. Reduced by 100,000€

Situated in the prestigeous Marbella location of Cabopino. Standard prices were from 450,000€ - 515,000€. These marvellous luxury homes can now be purchased for 350,000€ - 415,000€. 28/06/2008

Euribor at lowest level for eight months.

Against the trend of bad news in the financial markets, the Euribor fell again to 4.381% (22.01.08). This is well below the rate at the end of 2007 where the rate had spiked to 4.79%.28/01/2008

Spanish property prices end the year lower than they started.

Despite starting the year well with property prices rising in all Spanish regions,2007 has ended in December with prices 0.28% below where they started in January. According to Facilisimo.com, the region of La Rioja has been the worst affected, dropping 11.08% to 2159€/m2 , Madrid and Barcelona haven't avoided the falls dropping 2.38% to 3479€/m2 and 3.05% to 3777€/m2 respectively. 05/01/2008

Euribor falls again for second month in succession.

The Euribor, the Central European Bank's base lending rate, is set to close the month of November at 4.60%.29/11/2007

Bargain Property.Luxury Marbella Townhouses. Reduced by 100,000€

Situated in the prestigeous Marbella location of Cabopino, these high quality south facing residences boast fantastic sea views. Golf lovers can also choose south west facing homes overlooking Cabopino Golf (Par 71). Standard prices were from 450,000€ - 515,000€. These marvellous luxury homes can now be purchased for 350,000€ - 415,000€. 06/09/2007

Spanish Mortgage rate set to fall

The Euribor, the Central European Bank's base lending rate, is set to close the month of October at 4.65%.12/07/2007

Price of resale property falls in several Spanish regions

Resale property prices have fallen for the third consecutive month in thirteen Spanish regions including the province of Malaga.12/07/2007

Deutsche Bank release strong Spanish economy report

The Deutsche Bank have issued a report on the Spanish economy entitled Spain 2020, the success story continues.12/07/2007

Domincan Republic. JUST RELEASED. 30.10.07

Fantastic new property investment just released in the Dominican Republic. This product, previously only available to the Spanish investment market is now available through Garratt Homes.12/07/2007