Spain has always been a popular destination for Brits looking to move abroad or to own a second home. Spain’s lure of sunshine, stunning coastal scenery and lively cities has been attracting interest for years and it seems that the trend isn’t about to change any time soon.
The European Environment Agency has released a detailed study into those European cities at high risk of urban flooding. Marbella sits second bottom of a table of 578 cities with only 22.51% of its area ‘sealed’ by buildings, concrete or tarmac – only Sweden’s Norrkoping is ‘greener’ at 21.6%.
With Scandinavians, Dutch, Russians, Chinese and now millionaires from Latin America suddenly “hot” on the value offered by property in Marbella, the race is on to find top quality luxury stock.
Some 2.3 million ‘foreign’ EU nationals are now officially registered in Spain, around 5% of the total population.
Played the right way, there is gold in the Spanish property market with the occasional deal arising that could return 20% inside three months. But agent Spanish Hot Properties advises that finance must be in place so you can strike while the iron’s hot.
Positivity has emerged from the Spanish press with regards to the long-awaited opening of Murcia’s Corvera Airport.
Daytime talk show legend Ricki Lake has recently revealed her desire to up sticks and swap LA for Ibiza. Describing it as “our paradise” she hopes to move her new husband and two sons to the Balearic Island “as soon as we possibly can”.
The number of properties purchased in Spain by foreigners rose for five consecutive quarters between 2011 and 2012.
In spite of the pressure on the Euro and the general state of the Spanish economy the Balearic Islands have had a good year according to Engel & Völkers Estate Agency. Sales were up by over 9% over the previous year and sales volume increased by over 8%.
News this month from the Malaga Developer’s Association reveals that the Russians have overtaken the Germans to become the second largest international home buying audience on the Costa del Sol. Marbella agent Spanish Hot Properties believes this is a trend to continue.
In a “crisis” the wealthy tend to hold firm. According to Sotheby’s International Realty this is certainly the case and nothing can dent the love affair that well-heeled Europeans, and now Americans, Russians and Chinese, have with the sunshine and lifestyle offered by Mallorca and Ibiza.
Having sold a very pleasing seven homes in December, a month that isn’t always seen as a buoyant month for buying, Murcia-based estate agent Mercers is very positive about what’s to come in 2013.
In 2012, sales and turnover for Spanish Hot Properties were both up 25% on 2011. For 2013 the estate agent has even higher hopes, a 50% predicted increase in turnover on 2012, largely due to a Google-friendly website that will rank strongly as the market recovers. So why the positivity?
14.5 million Brits tuned in to watch Bradley Wiggins crowned BBC Sports Personality of the Year last night. 1,000 miles away, expats in Mallorca were also celebrating the cyclist’s victory as Bradley has adopted the Balearic Island as his training destination of choice.
British buyers tempted by the discounts and finance deals that come with repossessed properties in Spain should choose where they invest carefully, plan any viewing trips well in advance and be prepared for a more complicated buying process than usual, a leading estate agency on the Costa Blanca has advised.
46 to 60 of 416 for Spain