Archives for August 2008

August 29th, 2008

Thousands of British expats who lost out to Spain's notorious "land grab" laws were yesterday given hope of getting their properties back after the European commission took Madrid to the European court of justice. The commission is to take legal action against Spain over alleged infringements of European competition regulations governing ...

Continue reading Spain in Court over Land Grab

August 28th, 2008

Estate agents used to be so pervasive in Spain that some authorities sought to stop them taking over tourist haunts. But according to figures published yesterday, in only six months the number of estate agents' offices has been reduced by more than half. The 10 largest estate agents had 3,001 offices ...

Continue reading Costa Crisis Hits Estate Agents

August 27th, 2008

People considering investing in Spanish property should not be put off by the current troubles as the market will bounce back. Spain has been one of the countries worst hit by the credit crunch and is experiencing a major economic downturn as a result. However, according to reports in the Tenerife News, ...

Continue reading Spanish Market Will Pick Up Again

August 26th, 2008

High inflation is a threat to your standard of living because it reduces how much you can buy with your money. Another threat to expatriates’ spending power is the exchange rate – for example, over the last year the Sterling to Euro conversion rate dropped around 15%. With the Bank of ...

Continue reading Protect Your Spending Power From Adverse Exchange Rates

August 25th, 2008

Expectations that the credit crunch, weakening pound and diminishing disposable incomes have sounded the death knell for overseas tourism appear a little wide of the mark. As specific markets, such as Lanzarote in the Canary Islands are reporting a bumper increase in British visitor numbers for the first half of ...

Continue reading Lanzarote Tourism Defies Credit Crunch

August 21st, 2008

Politicians and local governments throughout Spain are still struggling to decide what should be done about the number of illegal properties which have been built in the country over the last few decades. According to the website Spanish Property Insight, reports from the Spanish press have revealed that the Popular Party ...

Continue reading Planning Amnesty For Illegal Homes In Málaga

August 20th, 2008

Can Spain weather the downturn? The Spanish property market has had its fair share of headlines recently. If you were to believe them then the image that comes across is of a country hit by a never ending stream of bad news. Corruption scandals, illegal building, demolition threats, land grabs, over ...

Continue reading The ‘real’ Spain is poised to weather the property downturn

August 19th, 2008

The Spanish government is considering allowing commercial airlines to use military routes, which would make travelling to Spain easier and quicker. Some experts feel that such a decision could help to kick-start the Spanish property market. If the Spanish government decides to let commercial airlines use military routes it would allow ...

Continue reading Opening Military Routes could benefit Spanish property market

August 18th, 2008

Whilst much of Spain is feeling the heat of a major slowdown property prices in the Andalucian city of Jerez are going up. As much of the Spanish property market is starting to falter, the Andalucian city of Jerez is one of the few exceptions. While many areas of Spain are currently ...

Continue reading Jerez Feels None Of The Strain In Spain

August 15th, 2008

A source tells me that some lawyers on the Costa del Sol are up to no good again. Now that their astronomical fees from conveyancing have dwindled to a trickle in the market freeze, they are having to come up with new ways to part clients from their money. This ...

Continue reading "Distressed Homes" – Buyer Beware

August 14th, 2008

Increasing domestic demand for rental property boosts Spanish buy-to-let market, especially commercial areas and cities. It’s become a well-known fact that the traditional ‘fly-to-let’ rental market in Spain is suffering from over saturation. Coastal resorts are certainly as popular as ever, with Spain remaining one of the top holiday hotspots with British ...

Continue reading Rental Demand Boosts Spain’s Buy-To-Let Market

August 13th, 2008

Morgan Stanley, the investment bank, has issued a major alert on the health of Spanish banks, warning that a replay of the ERM crisis in the early 1990s could wipe out the capital base of weak lenders exposed to the property crash. "A momentous economic slowdown is now under way. We ...

Continue reading Morgan Stanley issues alert on Spanish banks

August 12th, 2008

A growing number of British buyers who have invested in homes in Spain are planning to take legal action against property developers who have gone out of business. According to reports on Telegraph.co.uk, lawyers specialising in property are noticing a surge in the number of British buyers contacting them for advice. Some ...

Continue reading Brits To Take Action Against Spanish Developers

August 11th, 2008

The Marbella town council has decided to start issuing licences of first occupation (licencias de primera ocupación) before the town’s new urban master plan gets final approval. First occupancy licences will be granted to owners of Marbella properties that are expected to be legalised by the new urban plan (Plan ...

Continue reading Marbella to issue first occupation licences

August 8th, 2008

An online debate amongst readers at the website of ‘El Pais’ - Spain’s leading daily – provides some insight into what the Spanish think about the country’s property and mortgage crisis. Many of the readers point the finger of blame at the banks and the government for inflating a property bubble ...

Continue reading Spaniards have their say on Spain’s property market malaise