Archives for August 2006

August 31st, 2006

The Spanish overseas property market has just been given a massive new impetus by VIVA Estates, who have taken the unprecedented initiative of slashing their resales commission to a mere 2%, while at the same time introducing an in-house conveyancing service for vendors, at the accepted market rate of 1%. This ...

Continue reading VIVA – Bringing the House Down

August 30th, 2006

After VIVA’s recent announcement of a flat 2% commission rate on property sales and my comments yesterday, I received some pertinent feedback from David Novi of Novi Property Mallorca, he says: “Many observers have for some time blamed such low commission levels in the UK for the poor quality of service ...

Continue reading Low Cost = Poor Service?

August 30th, 2006

Many investors now have negative view of the Spanish market, which is largely unwarranted, one expert has said. Mark Stucklin, spokesman for Spanishpropertyinsight.com, said that problems in the Spanish property market have been “exaggerated” and many investors have a distorted view of the country’s prospects. For the first time in many years, ...

Continue reading Spanish property prospects ‘brighter than anticipated’

August 29th, 2006

The province of Valencia, located in eastern Spain, showcases a mixture of white sandy beaches, a rich interior and vibrant city - all within 23,255 sq.km. In many ways it represents the essence of Spain yet retains its own Catalan heritage attracting over 4 million visitors each year. But as national ...

Continue reading Valencia Attracts UK Property Buyers

August 28th, 2006

Illegal construction on the seafront is a “legacy from the past” that the Ministry of the Environment’s Coasts Authority is keen to lose sight of. A special programme to withdraw administrative concessions plus close collaboration with the Junta de Andalucía and local Town Halls is the formula the authority will ...

Continue reading Cadiz to Cut Illegal Construction

August 28th, 2006

The European Commission has decided to refer Spain to the European Court of Justice over its laws on land-and-town planning that apply to the Valencia Community (known as “LRAU” and “LUV”). The Commission has already sent a letter of formal notice and reasoned opinion (IP/05/1598, 14 December 2005) to Spain regarding law 6/1994 ...

Continue reading Spain referred to Court of Justice over Valencia

August 25th, 2006

For thousands of Britons Spain is an old friend, a hogar del hogar (home from home). Since 1994, the country has been our number one choice for holidays abroad, attracting 13,864,000 tourists in 2005 alone. Spain however is not only our favourite destination for sun, sea and sangría; new government ...

Continue reading Where’s Best to Invest in Spain?

August 24th, 2006

It is the third community in Spain with a bigger increase of entries of foreign visitors. Nearly 550,000 foreign tourists have visited the Autonomous Community of the Basque Country during the first seven months of 2006, an increase of 14.2% with regard to the same period of time the previous ...

Continue reading Basque Country Tourism Up 14%

August 22nd, 2006

These days, it’s impossible to turn the pages of any magazine about Spain without reading about the virtues of ‘Real Spain’ - how different the inland locations are from the popular coastal developments. You know what? It’s true! We have just returned from a two week holiday near Zahara de la ...

Continue reading Zahara – Where Eagles Soar

August 22nd, 2006

Insurer Hiscox has identified a new group of young buyers who are planning to invest in overseas property while renting in the UK. According to a study commissioned by Hiscox, 27% of prospective first-time buyers say they would consider buying overseas to get onto the property ladder. Observing that the younger ...

Continue reading Young ‘BARBIES’ Rent in the UK, Buy Overseas

August 21st, 2006

Tarifa has long been a draw for hippies, but now that the smart set has put it on the map, demand for property is exploding - along with prices, says Mark Stucklin. “Tell them it’s a windy dump, that everyone is uptight and you can’t find a property for love or ...

Continue reading Fortune Blows on Spain’s Windy City

August 21st, 2006

Talk about golf in Europe and the conversation usually turns to Ireland or Scotland. Destinations on the continent have long received little attention. That has started to change. Spain, with a century of golf heritage, is starting to turn heads. The country found itself in the international golfing spotlight in ...

Continue reading Spanish Golfing Delights

August 18th, 2006

According to the latest economic study by one of Spain’s leading banks, the Caixa Catalunya, buying a new flat in Madrid would cost just over 40% of household income. This comes at a time when 60% of families can’t even afford mortgages totalling 40% of their income. Madrid is the most ...

Continue reading Madrid Most Expensive

August 18th, 2006

There was good news for non-residents of Spain who own property in Spain at the start of this year – the rate for capital gains tax was slashed from 35% to 18%. The bad news for Spanish residents was that it was increased from 15% to 18%. The new regulations also ...

Continue reading Spanish Property Tax – When, Where, How, Who?

August 17th, 2006

Analysts foresee a much-needed stop to rising property costs in Spain. The rising prices of property in Spain finally appear to be levelling out after experts predicted a moderate increase in housing costs of 9 per cent for 2006. Unfortunately, for young people and immigrants with low incomes, this figure is ...

Continue reading Spanish Property Prices Levelling Out