Property Prices in Spain Surpassing Euro zone Averages

Property Prices in Spain Surpassing Euro zone Averages

According to the latest statistics from the Eurostat department house prices in Spain are increasing faster than any other region in the EU.

The is great news for foreign buyers looking to capitalise on their monies by investing in Spain. Taking advantage of Off Plan properties right now is a must due to the lower than market value prices you see for resale properties meaning greater long term profits to be made if investing in Spain now.

In Q2 of 2016 until Q2 of 2017, property prices rose by 5.6% in Spain compared to 3.8% for the rest of Europe. Spain has had a very delightful 12 months with property rises on the rise, properties selling at a rate of knots and more leniency with Spanish mortgage applications getting granted. The amount of mortgages applied for this August was 10% higher than in 2016 with an average amount of loan being €117,878.

Historically August is a quieter month for property sales in Spain due to the tourism boom for the summer, however this August Spanish property sales rose by over 17% compared to the previous year according to Spanish Notaries.

We have only one outcome to all this positive news about properties in Spain. The confidence has returned to the property market with overseas investors snapping up properties in good locations, off plan being sold as a great investment opportunity and developers are again coming to Spain to build (with licenses supported by the Spanish Government). First time overseas buyers are happy to buy property in Spain due to the safe policies that are in place now on off plan properties, strong economic stance and rising house prices.

We can see from enquires one year ago to this year that so many people feel confident again in Spain, by the end of this year we can see Spain taking the top spot for the best place to invest in overseas properties.

For more information about buying off plan properties in Spain, property mortgages or how to invest in property in Spain then please do drop us a line or email a specialist on info@absolutemarbella.com

Second Homes Most Popular for Brits and Irish in Marbella

According to a recent report by building giant Taylor Wimpey, Marbella and Mijas are in the top 3 locations for the British and Irish to buy a second home. Whether that be for holiday rentals or just a place to frequently get away from the rat race.

Marbella and Mijas are both in the Malaga Province so with the abundance of flights available from the UK and Ireland you can see why these two are top of the tree for properties being sold in Spain. The flights don’t disappear when the summer season is over like many other top destinations across Europe, in fact winter in Marbella is perfect for tourist and people wanting to live away from the icy temperatures of the UK and Ireland.

Over the last 12 months we have seen a huge increase in the amount of British and Irish wanting to call Marbella and Mijas a home and a more permanent place to take a break. Marbella has been a holiday hotspot for years now and with attractions always getting added, more international flare arriving you can see the only way is up for Marbella and its surrounding neighbours of Mijas and Estepona.

Over 6 million Spanish residents also own a second home in Spain with more than 3.6 million of those properties being located on the coast. Many use themselves with friends and family but most purchase a home in Marbella and surrounding areas so that they can rent them out according to a local property portal.

Annual unemployment falls 8.3% in Spain

New figures from the Ministry of Employment show that the amount of people that are registered as unemployed has dropped by 8.3% over the last 12 months in Spain.

The only increase that was recorded was the month of September when seasonal jobs come to an end and levels rise slightly once again. Even with September seeing a rise, year on year September has been the lowest recorded since 2008.

The increase for September was the highest in the Balearic Islands and naturally with the islands having a very strict season for tourists then winter months many establishments close causing these mentioned highs in unemployment. This is compared to the mainland and specifically Marbella and Estepona that continue to have tourism throughout the winter months. With temperatures still recording at over 25 degree each day and bearing in mind we are still in October, you can see why tourist levels stay very active on the Costa del Sol.

Throughout the past 12 months we have seen over 310,000 people that were registered as unemployed finding employment which is a very positive signal of a growing economy.

Housing Market on the Rise according to Bank of Spain

Housing Market on the Rise according to Bank of Spain

The Bank of Spain has opened its door to give us a look at the quarterly review of the property market.

Recently the Bank of Spain published data on the current Spanish housing market.

In some areas the prices of property fell by as much as 45% from the boom time. After a good few years of ‘getting back on track’ the property market has started to rise again but at much more of a gradual incline rather than sudden boosts. Since 2014 the process of property have risen by over 16%, all according to the Bank of Spain.

With all this in mind and the steady growth continuing to be a trend we have seen a huge amount of foreign buyers primarily looking to buy property in Marbella and Estepona. Foreign buyers has increased by over 17% and with a strong economy and a rampant job market then who can blame people from investing in Marbella and Estepona.

Experts forecast upward trends to continue over 2018 and beyond meaning now is the time to buy. Mortgages are becoming more readily available to foreign buyers and more importantly the Spanish banks are lending responsibly.

Finally, the property market in Spain continues to look strong however the amount of construction will need to increase due to the high demand of interest in purchasing property in Spain.

Mortgage Approvals on the Rise in Spain

Mortgage Approvals on the Rise in Spain

The amount of people interested in taking a mortgage in Spain has risen in all 17 regions in July. This news comes after a huge rise in property sales according to the central statistics unit.

In July 2017 sales of property in Spain rose by 16.8% so it’s no surprise that the amount of mortgage applications and approvals has also risen. Mortgage approvals rose by 32.9% giving 24,863 mortgages compared to the same month the previous year.

Many things have led to the amount of mortgages taken or wanting to be taken with a significant increase in the amount of jobs being created. Economic growth is greater and things have settled down enough for investors to start buying up great properties in and around Marbella and Estepona. Never far behind are people from the UK and Ireland wanting to grab that perfect forever holiday home.

Andalucía had the highest home mortgages granted with 4577 followed by Madrid with 4379 approved, all in July. This gives great confidence for buyers to make the move and with an easier route to mortgage for foreign buyers; now really is the time to buy a property in Marbella.

Mortgage activity grew by over 10% as an average for the first seven months of the year, this was comparing to the same time period of last year. If you look at a full 12 months to date then the average is over 12% higher than the previous 12 months period.

For any mortgage information or information on buying a property in Marbella or Estepona then please feel free to pop into our office or call one of our friendly client advisors that can help with any part of your potential move to Spain.

“Better way of life” – Come to Spain

“Better way of life” – Come to Spain

According to a new expat survey; Spain comes out in top place for British expats seeking a “Better way of life”.

This survey was one of the biggest ever to be carried out with over 12,500 people from 166 nationalities and over an incredible 188 countries.

The main reason for British to make the decision to become an expat by moving to Spain is the quality of life. Lower cost of living, almost all year sunshine, manana lifestyle have all helped Spain to be in the top 10 for ‘Quality of Life’ Index for 4 years in a row and secured 3rd this year.

We have found that expats from the UK are more likely to move closer to ‘home’ than go much further afield. One main point that people moving overseas have to get to grips with is the distance from family and friends however, with budget airlines offering amazing flights to many European destinations with very low prices everywhere becomes closer and closer.

21% of British that moved to Spain are for retiring purposes and 24% of all British in Spain are retired. When looking at average ages of expats living in Spain you may be surprised to learn that the British is 48.7 years old compared to a global average of 43.5 years.

Before taking the move to Sunny Spain 68% of all British thinking of moving said the cost of living as the main benefit with 82% saying that once they moved the cost of living was excellent. With these figures in mind you should not be surprised to see that Spain came in the top 10 for the ‘Cost of Living’ index for 2017. The cost of living is said to be approximately 20% less than the UK, renting a property over 38% less and food shopping over 17% less. This is great news for anyone from the UK looking to retire in the Costa del Sol who will be living on pensions and saving. Finally, 9 out of 10 expats said that they were satisfied with the lives in Spain.

Would you like more information about moving to Spain, the cost of living in Spain or how to get a mortgage in Spain? Speak to someone from then UK that has made the move already: contact info@absolutemarbella.com for an unbiased view.

 

 

 

Over supply of Property Crash properties running out

Over supply of Property Crash properties running out

The vast amount of properties that were left standing still in development or unsold looks to be clearing up with the final stocks running out.

The majority of stock could run out in some of the main locations across Spain including Madrid, Barcelona, the Balearics, the Canary Islands and the Malaga region shortly. The consultancy firm RR de Acuna y Asociados believe the stocks may be gone in as little as 3 years.

Prior to the huge property boom of 2004, we had around 400,000 properties for sale across Spain as a whole. When 2010 came around and we started to look back at the monstrous property crash the amount of properties available was 1,700,000.

As previously reported by Absolute Marbella, Spain’s property market has grabbed the bull by the horns and recorded an astonishing come back with huge growth in house sales. Construction is underway across Spain and particularly the Costa del Sol including the Marbella and Estepona areas. Once again off plan property is selling like hot cakes as new legislation’s that are in place secure a buyer from the unfortunate downfalls that happened in the crash. Buyers interested in purchasing in Costa del Sol can now buy with the peace of mind that there money will be safe and still benefiting from the appeal of off plan property.

With 1.3 million houses only for sale across Spain you can see the big hole that has been made in the overall figures from 2010. The firm identifies this trend as a hugely positive sign for future buyers in Spain and is even estimating that the natural reduction in properties unsold be around 907k by 2019 with almost 350,000 being new builds.

British and Irish Expats living in Spain on the rise

British and Irish Expats living in Spain on the rise

The number of British and Irish expats living in Spain has exceeded the amount of Spanish Expats living in the UK and Ireland.

Spain has always been very popular for the British and Irish holidaymaker to take a well earned vacation and the idea of living in on the Spanish coast always seemed like a dream for most. However that dream has become reality for hundreds of thousands of dreamers that have lived in Spain for at least a year last year.

Close to 300,000 citizens made their way out of the cold and wet and arrived on the Spanish shores in 2016 according to the Office for National Statistics.

When looking at the total number of retired expats arriving in Spain, the UK and Ireland made up an incredible 48%. This sends shock waves throughout the rest of Europe showing that the Spanish market is most definitely on the increase and showing that Spain has a healthy lifestyle that is very much sought after. The number of over 65’s has doubled over the last 10 years as reported by the Olive Press.

Of all the expats living in Spain it is reported that only 22% have full time employment with most working in the hotel and catering business. 11% were showing as unemployed and the rest are either house parents, retired or living from a pot of gold.

Spanish expats moving to the UK or Ireland was mainly made up of younger Spaniards, out of the 116,000 expats relocating to the UK and Ireland almost half of them were aged between 20-39 with 59% in employment. The statistics show that the main employment sector being admin, health, banking and finance.

Spain is still a huge destination for British and Irish to visit for less than 28 days with the vast majority staying for a vacation, the total number is close to 13 million visitors. This is in contrast to almost 850,000 Spanish visiting the UK for vacation last year.

Imagine sitting in the UK or Ireland with the cold, wet and miserable grey weather pondering what could possibly make you happy at that moment. Then start to think about the hot weather, amazing beaches, glorious sunsets and a very laid back way of healthy living, you can now imagine why Spain has so many new residents arriving daily.

Why shouldn’t you have the best lifestyle? Most people genuinely believe that they cannot afford to make the move to Spain but they could not be further from the truth. Moving to Spain and buying or renting a Spanish property is or should be very simple when using a reputable real estate agent.

Spain historically has cheaper house prices compared to many parts of the UK and Ireland and pensions can go a lot further due to lower cost of living expenses. When asked what was a main reason to move to Spain, many expats mentioned that the outdoor lifestyle that you can have in Spain is a huge reason to relocate due the positively on health.

Are you still dreaming of moving to Spain? Make that call, send that email or even better get on the plane and meet Absolute Marbella. We can show you how you can afford to move and what you can get for your money. We will introduce you to the right professionally qualified mortgage advisors, lawyers and show you a array of properties that would meet your requirements – all with no obligation at all.

Let Absolute Marbella Real Estate help make that move: www.absolutemarbella.com

Fallen in Love with the Costa del Sol whilst on holiday this summer?

Fallen in Love with the Costa del Sol whilst on holiday this summer?

The most searched holiday home destinations on Zoopla is Spain with the most popular search term including: pool, beach and sea view.

Searches for Spanish properties has risen 44% year on year with Marbella, Estepona and Mijas having a huge increase in popularity.

Portugal searches were up 16% however actual sales have stayed steady and a huge reason for this is the short summer season compared to all year round markets in Costa del Sol.

Imagine sitting in the blazing sun by a swimming pool or the sea and the waiter brings you some more tapas, another cocktail and all you have to do is concentrate on topping up your suntan lotion.

Then its time to set off for the airport to head back home, you land, its rainy, cold and its August…..

What many people are doing is charging up that laptop, grabbing a cup of tea and a scone and start the search for their dream holiday home back where you just came from…

The biggest issue with searching for a property is not the property itself but the agent that is listing the property. Most are uninterested in what you want and are simply focused on what they want to sell you.

To avoid this you must go with an agency that has your best interests at the fore front of the search.

Absolute Marbella is well know for its no nonsense no frills approach to finding the right property for you the buyer. Tell one of the professional agents your exact specifications and they will do everything possible to find the right property for you. What many buyers do not know is that certain real estate agents in Marbella have access to every single property listed on the whole of the Costa del Sol. This means that if the agent does not have the listing then they will source it from another agent that may not have the capability to capitalise on international marketing.

So the property for you may be right out there, whether you want the old finca on the country or be located right near the coast in a modern villa or apartment where the main goal is to generate an income from long or short term rentals, Absolute Marbella can and will help with every single part of your search from the search, buying and renting and managing the property on your behalf should you need.

Search for properties for sale in Marbella on Absolute Marbella: http://www.absolutemarbella.com

 

 

Spanish Property Sales Continue to Rise

Spanish Property Sales Continue to Rise

According to the latest property sales figures from the National Institute of Statistics (INE) there has been a large increase in the amount of homes sold in Spain.

In June alone we can see figures up by 19% comparing to the same month last year with over 39,000 residential property sales taking place.

Since the huge Spanish recession that lasted for around 6 years, market analysis highlights that monthly home sales have risen annually almost every month since March 2014.

The analyst expects new home sales to continue to grow for the next few years as off plan sales lead to completions.

Even with brexit the Costa del Sol was the second most popular place to buy for British buyers where sales are up 12%.

Costa del Sol, culturally outstanding, nonstop sunshine with amazing food.

Costa del Sol has so much more to offer than the most recent image of cheap drinks and skyscraper hotels.

Visiting the Costa del Sol these days you will notice a huge difference to the older version that people once associated with. No more is it just another holiday resort for lager louts, bar crawls and cheap looking British bars, you will see a vibrant, culturally magnificent location that is home to some world class luxury properties and hotels. We have so much on offer when travelling to the southern coast of Spain and one should take it in for all its glory.

With over 320 days of sunshine per year being that we are on a micro climate you can appreciate why a short 3 hour flight from the UK at anytime of the year is a fan favourite for holidaymakers and holiday home owners.

Some of the more popular towns surrounding Malaga are Marbella, Torremolinos, Mijas, and Fuengirola with each offering very different styles of holiday and residence. whilst staying in any of the mentioned resorts each can be accessed by a short journey by bus, taxi or car to make a fantastic day out with something different to do in each town.

The easiest way to see the coast of the Costa del Sol is by flying into Malaga International Airport which is the 3rd largest in Spain and a short distance from the city of Malaga. Malaga airport is always evolving and taking in more passengers each year by increasing the number of flights from current origins but also opening up new flights. Recently it was announced that Malaga will welcome direct flights from Doha and also daily flights from New York. If you get time and want to divulge yourself in some great culture try to visit Malaga for a day or two. Visit the Old Quarter and the Picasso Museum which is located very close to the home that he was born in.

You can take a guided tour around the Gibralfaro Castle built around the 14th Century. Should you be here to shop take a walk down Calle Marques de Larios where you can find a lot of your favourite trendy chic boutiques and some fine food is available off on Calle Granada,

Heading off down to Marbella is one of the most popular things to do, a short journey by the local bus or hiring a car is the preferred way to travel the 55km’s to the old fishing village. Once you arrive in Marbella you will notice that a fishing village it is no more, Marbella is the most expensive and desirable place on the Costa del Sol.

Marbella is such a diverse town that has something offer everyone’s needs. You can visit the Old Town that has very narrow mosaic cobbled streets and some beautiful and charming buildings by taking a care free stroll. You will also find some popular boutique shops tucked away down every street, all of a sudden you will stumble across the main Old Town Square known as Orange Square where you can sit and have a tapas meal or just grab a coffee.

Moving west from the Old Town is the famous Golden Mile which is a the coastline leading to Puerto Banus. The Golden Mile has some very famous sights on it with the Hotel Puente Romano where Princess Diana famously frequented. Close by you will see the ‘White House’ replica of the original in Washington, however no US President lives at this one, it is the former home of King Fahd of Saudi Arabia.

Arriving in Puerto Banus you will notice wealth, this is the playground for the rich and famous. People come from all over to spend time during the days and nights around Puerto Banus and is also featured on many TV programmes. Puerto Banus has many world class fashion boutiques, Gucci, Armani, Tom Ford are only a few to mention. The marina is full of huge yachts, fast cars and expensive hand bags with famously owned yachts mooring here. You do not have to spend a mortgage to eat and drink in Puerto Banus, you will find bars and restaurant that suit everyone’s pockets and taste. Puerto Banus and Marbella itself is always hot for people of all backgrounds looking to buy properties, rentals are huge in Marbella and occupancy rates are unbelievably high annually. Marbella is a great place to invest in a holiday home or an investment property.

Marbella and its surrounding areas can appeal to every ages group, every holiday style and hosts every activity whether you are 6 months old or 106 years old. People like the laid back attitude, great food, amazing views and many people turn their holiday into a residency. More and more people are relocating to Marbella than ever before, more money is getting distributed across the region ny the government to refurbish the surrounding areas. Marbella can be easily accessed as mentioned via Malaga airport but also Gibraltar is becoming more popular and can be a little closer than Malaga airport with less traffic.

10 things to do in Costa del Sol

1. Beaches – In 2016, 22 of the Costa del Sol’s beaches were awarded the Blue Flag Award.

2. Golf – More than 70 golf courses, earning it the nickname “Costa del Golf”.

3. Ronda – It is famous worldwide for its dramatic escarpments and views.

4. Benalmádena – Take the cable car on a 15-minute journey you’ll climb to the peak of Mount Calahorro.

5. Cueva de Nerja – Stretching for almost 5 kilometres (3.1 mi), the caverns are one of Spain’s major tourist attractions.

6. El Caminito del Rey – Spain’s most thrilling (or terrifying) walk.

7. El Torcal – El Torcal is one of the most unique and important nature reserves in Andalusia.

8. Crocodile Park – with more than 200 crocodiles, enjoy a guided tour at feeding time for maximum thrill.

9. El Cielo Mountain – Marvellous panoramic views of the coast line.

10. Mijas Pueblo – Perched on a steep hill with a spectacular view of the coastline.

Spanish property transactions reach 6 year high

Previously the highest number of transactions reported in Spain was February 2011, figures have just come out stating that March 2017 is now the month to beat with 40,641 properties sold in Spain.

The whole of Mainland Spain has seen increases in growth whilst the Canary Islands had a decline of 3.5%.

The first 3 months of 2017, Spain’s Central Statistics Unit registered 15% more property sales compared to the same time period in 2016. The total number of property sales for the last 12 months including the month of March 2017 has seen the increases of 15.1% compared to the previous 12 months.

As mentioned in a previous report the Spanish property recovery is well on track and we have seen huge increases in enquiries and sales for property in the Costa del Sol specifically. With a new breed of buyer entering the market we are expecting 2017 to be a huge year for the real estate market in Marbella. Banks are offering great rates for foreign buyers, golden visas have been a successful addition for many clients outside of Europe and huge amounts of money is being injected into key resorts along the coast making the Costa del Sol one of the most desirable investment regions in Europe.

Harsh Reality in Finding the Right Estate Agent in Marbella

How it all began?
“We had visited the Costa Del Sol many times looking for the perfect property prior to moving there. The problem we faced was something we ended up using to our advantage in business. No one seemed to want to pick the phone up or reply to our email enquiry, we were sent a huge amount of properties but 99 out of 100 of them would be over budget or in the wrong area and not what we had specified to the agencies.
So here we were sat in a hotel in Guadalmina Alta seeing many properties for sale but we could never get to see them or find out more information.
We ended up giving up each time and changing strategy so back to the UK for us. When we decided to get back to Marbella due to the move date looming, we would then be faced with the daunting task of finding a property for rent whilst we find a good agent to get us the property we wanted to buy.
Again we were then quick to learn the frustration involved in searching for property when many of our inquiries were ignored and never replied too. When we did get through to somebody they knew nothing at all about the local area, the property that we enquired about and most of the time did not communicate well or showed a lack of interest in our needs. Due to this difficult and stressful experience we knew there was a gap in the market and that gap was for customer service, reliability and professionalism – we then went on to set up our very own Marbella Real Estate agency to help people like us – Absolute Marbella was born and has since filled that gap!”

Why is Absolute Marbella Real Estate unique?
We decided to launch Absolute Marbella in the downturn of the market, the key to our success during this difficult time mostly has been the ability to adapt to our clients every need as we understand that every client is different and every buyer wants or need a different experience. Our investor clients generally do not need to see the A-Z of an area or a property, it is highly likely that our client investing in a property in Marbella is all about facts and figures. Where as someone looking for a ‘home’ will be more about what is around and accessibility to amenities.
Something so simple but yet vital is we will answer your call, call when we say we will call, we will meet you when we say we will meet you and we will be professional, friendly and pro- active in our joint journey to find you the property that you require.
Absolute Marbella Real Estate is here to make a difference and that is to change your experience of searching for property in Marbella and make it a happy one.

When you make contact with us telling us that you are looking to buy a property in Marbella then we won’t just send you every property for sale in Marbella hoping that you will ‘just choose one’. We will only show you properties that meet ‘your’ requirements not ‘ours’. It is imperative that we are both singing to the same song
Where we came from.
“For many years now we have worked 7 days a week to make a success of something many others have failed on – Honesty, integrity and individuality.
This means we are not afraid of answering the phone at any time of day or night or to arrange an appointment to see a property on a weekend or a holiday. We understand that most people search for property and would like to view properties on a weekend, when they are off, it makes sense. Not everyone has the flexibility to view properties at 10am on a Monday morning.
We have over 31 years experience in Real Estate covering rentals, sales and property management and above all customer service and client satisfaction.” We have a huge international list of repeat, referral and investor clients who actively purchase investments and holiday homes in the countries we have offices in.
Absolute Marbella Real Estate is a fresh new way to find the property that you want without the hassles associated with estate agents in Marbella.

The article was written about Absolute Marbella Real Estate based in Marbella selling and renting properties to clients globally. All of Absolute Marbella employees have the unique way of thinking that is not present in the Costa Del Sol real estate market and that is ‘the client is king’. http://www.absolutemarbella.com

Want To Be A Legal Landlord In Marbella? You Should Be!

Who wants to be legal? Well you should be… The Andalucian Government has seen a huge increase in rental permit applications since imposing massive fines for anyone renting out their property to holidays makers without the correct licences.

So far throughout Malaga and Costa del Sol we have more than 9,000 rental properties that have gone through the process of becoming legal by gaining the government official permit. We have sources that claim over 21,000 applications have been submitted already and waiting for clearance to allow the properties to be rented out legally throughout the coast.

For many years property owners have used the rental income gained to put towards the annual property costs like for mortgage, community fees and maintenance work whilst still living in the UK and Ireland for example. The new registration process came into play in May 2016 which was probably sparked by the hotel industry claiming the illegal renting of property was harming the hotel industry.

Should you have a property that you wish to rent out legally then you must apply for this permit, allow an inspection of the property, have a safety check and obviously now pay the tax due on the funds received.