Archives for April 2008

April 30th, 2008

Investors in Spanish property anticipate a range of benefits as part of a plan to revitalise the economy. As part of an 11-part plan to boost the Spanish economy, tax breaks are to be given when the cost of renovating a property more than a quarter of its purchase price. The government ...

Continue reading Financial Incentives to Invest in Spain

April 29th, 2008

Hats off to the developers and promotors in Catalunya for coming up with real-world solutions for the current property market. Reducing off-plan prices by 40% seems like a sensible move to me. I do hope the G14 developers and promotors are sitting-up and taking notes. Although the ACd'EI web site is not ...

Continue reading Economic Growth in Spain

April 29th, 2008

With property prices having fallen over the past year, sales of properties in Catalunya have fallen by a massive 42.7%. As a result many developers are sitting with developments that are either completed but empty or had to cease construction at the midway point. In a new twist the Corporate Real ...

Continue reading 40% Discounts in Catalunya

April 28th, 2008

Ten years ago, Chris McCarthy, a Briton living in Marbella, set up Viva Estates, an estate agency aimed at selling property to the hordes of his fellow countrymen keen to buy on the Costa del Sol. At its peak, the company had 15 offices across southern Spain and was selling ...

Continue reading Overseas Property Big Picture

April 25th, 2008

Madrid’s local government claims the city’s the best place in Europe to set up an innovative new business. Spain’s capital city is embracing free enterprise in an effort to boost the region’s economy, and it seems to be working. Madrid's GDP per capita of €27,000 is already 30 per cent higher ...

Continue reading Madrid Best for Business

April 24th, 2008

The Spanish islands, and in particular the Balearics, comprising Mallorca, Menorca and Ibiza, are not suffering as much as some other parts of Spain since the recent downturn in the property market. Mark Stucklin, head of investment advice website Spanishpropertyinsight.com, reported recently that areas such as the costas had suffered in ...

Continue reading Strong Spanish Islands

April 22nd, 2008

Last week, one of the larger national property portals in Spain, Idealista.com, quoted an article which appeared in the Spanish newspaper ABC. Entitled "Developers say that house prices will not fall further", the article explains how The G14, the association formed by the 14 largest Spanish developers, believes that property prices ...

Continue reading Spanish House Prices Rising?

April 22nd, 2008

Any idea that the exodus from Britain of those settling abroad might be waning appears wildly premature. The latest survey predicts 1.8 million Britons retiring abroad by 2025 and 3.3 million by 2050. The survey, on behalf of NatWest International, provides further evidence that the majority of those making the ...

Continue reading UK Exodus Continues

April 18th, 2008

Over 500 people attended the inaugural Leading Property Agents of Spain (LPA) conference on the Costa del Sol last week, which examined the issues surrounding the region’s property market and how best to address these to ensure its sustainability leading up to 2020. The Mayor of Marbella, Angeles Muñoz, opened the ...

Continue reading Marbella Mayor promises change

April 17th, 2008

We all know how important location is when buying a home, but it’s also a vital issue to consider when going about your tax planning. This doesn’t mean you need to choose your country of residence based on its tax rules, so if you’d like to move to Spain the ...

Continue reading Location and Taxation Considerations

April 16th, 2008

Spanish builders are tempting home buyers with free cars, mortgage holidays and hard cash as they try to lift the gloom shrouding the housing sector. Some companies are also diving into the rental market. At the annual property fair in Madrid last week, the number of promoters was down by a ...

Continue reading Developers Lure Buyers with Deals

April 14th, 2008

Now, 1 euro is worth 80p, an all-time high against the pound. Bad news for British holidaymakers – but are there more serious consequences of living next door to the world's strongest currency? Tens of millions of British people will experience their own credit crunch on holiday this year as the ...

Continue reading British Tourists Pay for Euro Strength

April 11th, 2008

Windmills pay. On a breezy Saturday at the end of March, Aeolian Parks scattered across the hill-top ridges and off-shore sandbanks of Spain produced 40.8pc of the country's electricity needs - 9,862 megawatts to be precise. The much-derided turbines produced enough wattage to power the great cities of Madrid, Barcelona, Seville, ...

Continue reading Spain Gains From Wind Power

April 10th, 2008

The Spanish prime minister, José Luis Rodríguez Zapatero, yesterday outlined how his re-elected Socialist government will save Spain from economic crisis. In a speech to the Spanish parliament as he begins his second term, Zapatero announced an ambitious public works programme, which will pour millions of euros into building 150,000 affordable ...

Continue reading Public Works Save Spanish Economy

April 9th, 2008

International banks are scrambling to sell their holdings of Spanish mortgage debt at a steep discount, fearing that the country may be sliding into the worst economic downturn in its modern history. A blizzard of grim data has soured the mood, capped yesterday by a plunge in PMI purchasing managers' index ...

Continue reading Foreign Banks Flee Spanish Property Debt