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Swedes buy twice more property in Spain

15.06.2011  from www.top-casa.com

According to official figures of the Spanish authorities, in 2010 Swedish buyers purchased 105% more properties in Spain than in 2009.
Experts of the Spanish property market explain it primarily by decline in the prices of Spanish property. And now that is the best time to buy property in Spain. Real estate prices won’t show large correction in 2011 and the maximum deviation in one direction or another won’t amount more than 3%. Recall that in some areas of Spain property prices fell by more than 30%.
 
Experts also explain such activation of Swedish buyers by strengthening the local currency against the euro. Due to the exchange rate, Swedish consumers save extra money on purchasing. In addition, Spain has always been the most popular tourist destination in Sweden and the Spanish real estate ranked first among preferences of Swedish foreign property buyers. In Spain it is easy to get to Sweden by plane, it does not require much time and money, which is important factor for the Swedes.
 
However, the interest of Swedes to real estate in Thailand, which is popular among Swedes, after Spanish, declined significantly last year.

Spanish property sellers are more willing to make discounts

22.06.2011 from www.top-casa.com

According to Spanish property portal idealista.com about 134,100 owners of Spanish property have reduced the prices on their property since 2011. Monthly there are more sellers willing to lower the price of property, in May their number was 30.6 million or 7% of the total number of sellers. On average, in May each seller decreased the value of object for 8.2%.
 
idealista.com reports that the monthly cost of all objects on the market in Spain falls to 700 million euro. Over the last year the value of all properties for sale in Spain fell by € 6,4 billion.
 
The greatest decline in property prices is seen in the segment of elite real estate where sellers cut prices an average of 9.3% of the initial value of the objects. Approximately 6.5% of sales of real estate are ready for discount in the sale. Sellers of real estate of the middle class are less compliant, they reduce the price 8.6%, approximately 8.3% of all sales are ready to make this step.
 
idealista.com reports that real estate prices are decreased by sellers mostly in Madrid (10.2% of sellers), Zaragoza (9.7%) and Barcelona (8.8%). The biggest discounts on real estate were made in Almeria (-12.9%), Tarragona (-11%), Avila (-10.2%) and La Rioja (10%). It is reported that price reduction is not of a mass character and should not significantly affect the real estate market as a whole. Because of the large real estate supply, property owners try to sell property as quickly as possible, and make more serious discounts than usual.
 

Spain Vacation Home Sales Enjoy Boost From Resilient Tourism Industry

Posted by Scott Kauffman 09/27/11 8:30 AM EST  www.worldpropertychannel.com

(MALLORCA, SPAIN) -- Spanish tourism group FRONTUR is reporting strong summer tourism numbers for Spain's both residential resort and hotel industries.

Last month, FRONTUR reported 7.64 million foreign tourists visited Spain, a 9.4 percent increase over the same month in 2010. The August numbers marked an all-time monthly high for the country.

Since the beginning of 2011, 40 million tourists have visited Spain, representing a 7.8 percent increase over the same period in 2010.

The Ministry of Industry which produces the tourist movement survey suggests that August visitor figures "reinforces the good prospects of Spain in 2011"  highlighted by the fourth best year in the history of Spanish tourism, a great achievement considering the economic recovery only began back in the second half of 2010.

Further data indicates that while Brits are one of the most regular and loyal visitors to Spanish shores at 9.5 million annual visitors, there has been impressive increases in numbers of other foreign visitors to Spain between January and August this year. For example, there was a 16.7 percent rise in American tourists in the month of August as well as a 12.3 percent jump from Germany and 10.5 percent increase from Italy.

By destination, Catalonia was the largest recipient of foreign tourists receiving 1.9 million visitors in August while the Balearic Islands followed closely behind with 1.8 million tourists in the same month. Meanwhile, 1 million visitors flocked to Andalucía, 821,000 tourists visited the Canary Islands while 737,000 foreigners picked Valencia and 550,000 made Madrid their destination of choice.

"Despite difficult economic conditions across mainland Europe, Spain is one of the most resilient holiday destinations, remaining popular with foreigners whatever the market conditions," said Ignacio Osle, sales and marketing manager of Taylor Wimpey España. "Recently, the IMF stated that Spain will be the only country that will experience higher levels of growth next year compared to its European counterparts of France, Italy and Greece. Spain has a global appeal as a tourist destination; we have even seen 53,000 tourists arrive from India in the first half of this year, representing a 35 percent increase.

"Spain is recovering well especially with the help of the country's overall tourism drive and low cost airlines like EasyJet increasing the number of flights it operates from the Netherlands to destinations such as Mallorca next year. Indeed, Mallorca is one such destination that has performed better on the property front than its mainland counterparts offering strong rental market potential."

One residential resort development doing well is Cala Magrana in Mallorca.

Following the success of Cala Magrana's first two phases, Taylor Wimpey España is now launching the third phase comprising 20 stunning apartments in situated 600 meters to Cala Anguila beach, a selection of golf courses and the marina of Porto Cristo.

Costing from $297,352 plus value added tax; this residential development consists of two-bedroom apartments surrounding a communal garden with a swimming pool. Ground floor apartments have a spacious terrace with a garden for private use while top-floor apartments benefit from a roof terrace also for private use.


What is expected for the real estate market of Spain in the future. Expert’s opinion

09.06.2011 from www.top-casa.com

Experts disagree over the future of the property market in Spain. Some experts are set extremely skeptical, some predict speedy recovery for the market Spain.
 
President of development company G-14 Pedro Perez argues that real estate prices in some regions of Spain have already risen by 20% and continue to grow. In Madrid, prices have shown significant increase due to supply shortage of real estate. But Pedro Perez cautiously makes predictions about the future of Spanish property market and doesn’t exclude the possibility that the market may form another bubble.
 
Specialist of company Quabit Alberto Quemada, on the contrary predicts rise in property prices in all regions of Spain, arguing that today to buy property in Spain at a cheap price is almost impossible. He says that all the best items at cheap prices were sold. For two years of the crisis, investors bought up the cheapest accommodation and are now waiting for further growth.
Secretary of the Department of Housing of Spain Beatriz Corredor said that the property market of Spain will finally cope with the crisis in 2014 and implement 700,000 homes that now aren’t sold.
 
Minister of Public Works and Housing, Jose Blanco said, the worst for the housing market is behind. The serious correction in property prices has occurred in the past year. Now if the price varies in either direction, it will not exceed 2%. But the minister warned that 2011 is the most important and difficult for real estate market.
 
Spanish property market economist Francisco Sanchez Velva believes that now it’s very difficult situation for banks in Spain. They have accumulated a lot of problem properties that they are trying to sell. But banks don’t offer the best real estate, they can’t compete with agencies, so if banks want to sell their property they need to significantly reduce the prices of mortgage real estate. Only this will help them back their money.

Confidence in the UK housing market weakens amid the economic uncertainty

Tuesday, 01 November 2011 www.propertywire.com

More people in the UK expect house prices to fall rather than rise over the next year, according to the latest Halifax Housing Market Confidence tracker.

Some 30% predict that the national average house price will decline over the next twelve months. However, this is only marginally more than the 28% that forecast a price rise over same the period, suggesting an evidently polarised outlook towards the market.