15.7% Rise in Coastal Property Prices

September proved to be a valuable month for Spanish property prices; Spain’s recovery plan continues to be on the right tracks with the average property price increase of 4.8%.

According to the valuation company Tinsa, property prices gained in all sectors with 7.3% in larger cities and capitals and a fantastic 4.7% on the coastal areas.
Albeit the price of property is still considerably lower than the boom time at 35.7% lower, the prices have increased by 12.1% since the global crash. This is great news for people looking to invest in property in Spain or searching for your retirement home or holiday home in Spain. In just over 3 years the property prices in coastal regions have increased by 15.7% giving great news for the investor.

This year 2018 has yet again seen record numbers of tourists flock to the Costa del Sol aiding the property recovery and showing investors and overseas buyers which locations to take advantage of on the coast. Marbella and surrounding areas has been a mecca for investors due to the hugely popular rental market. These areas can only continue to benefit in all aspects from tourism to the increase in property prices and rental prices.

Other news from the valuation firm that shows the extent and the solidity of the property recovery and economy in general in Spain is that property sales has risen by 18”% year in year. New off plan building licenses that have proves to difficult to get or even pass in previous years have grown by 46.2% year on year, this is a remarkable figure and again adds to the strong investment market for buyers of off plan properties in the coastal areas surrounding Marbella. Final figures from Tinsa also show that mortgage application that have been successful have also risen by 17% year on year showing that banks in Spain are becoming stronger and more satisfied to lend property buyers money again.

Unemployment in Spain has also decreased again year on year by almost 6.1%.

After reviewing the data provided by Tinsa, we have established that the recovery of the Spanish property market shows no sign at all of slowing down. We can confirm that we have a strong enough demand for properties in the off plan new build sector due to second hand older properties drying up, with property prices still on the rise but at more of a sensible rate than pre boom we can still see confidence from buyers and investors.

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.

“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.

 

 

 

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