The Latest Spanish Property News from Kyero.com
October 17th, 2006
You can’t open a magazine containing Spanish property without finding a ‘what’s hot?’ article, often several of them. These are always popular with those looking for property in Spain because they solve the problem of discovering areas and properties that would otherwise be hidden: after all - how can they find something when they don’t know where or how to look?
Today, Kyero.com has made the ‘what’s hot?’ process easier and infinitely more accurate by calculating and displaying ‘popularity’. Every day we measure how thousands of visitors to Kyero.com respond to the tens of thousands of properties available in Spain. The Most Popular page displays simple top 10 lists for properties, towns, regions and estate agents. Those looking for Spanish property off the beaten track will be more interested in the Hidden Treasures page which does the same but highlights undiscovered delights.
Both are the results of half-a-billion calculations a day (that’s 500 trillion sums for the three years Kyero.com has been live) to produce the first - and most accurate - representation of what properties people are actually looking for in Spain. Best of all, they’re produced independently, without hype, buzz or sales pitch: they are what they are - a reflection of what regular property searchers think of the stock of properties available in Spain.
Soon, every property search will be sortable by ‘most popular’ and ‘best kept secrets’. This means that visitors to Kyero.com can see what’s hot in the town, province, region, property type and price range that most appeals to them.
This quantity and quality of information about the Spanish property market has never been available before. Now, thanks to 500 trillion calculations, Kyero.com has made it possible for every visitor to truly understand what’s hot in Spain.
October 12th, 2006
“Having lived, worked and brought up a family in Javea for 20 years, it’s fair to say we know the place almost inside out, so you are guaranteed to be given the best assistance and advice when searching for your perfect Spanish home” says Mac, owner of Javea Property. “We have listed some of the choicest properties for sale in the region, and with our contacts amongst builders and real estate agents in Javea, property buyers will literally be spoilt for choice. Whether one is looking to invest in property in an upcoming area, buy an overseas holiday home or even thinking of retiring to Spain, we can help identify the right property and work through the complete process. The value of local knowledge and an on-the-ground presence in Javea should not be underestimated.”
Javea, a quiet resort area on the Costa Blanca, is about an hour’s drive from the vibrant and cultural Spanish cities of Alicante and Valencia, the latter being host to the next Americas Cup. Its proximity to the UK - flight time is only about two hours from London - and its warm, sunny weather, abundance of high quality property at a fraction of the price as that of similar properties in the UK and overall, the promise of a much more relaxed and comfortable quality of life, have all contributed to make Javea one of the hot overseas property destinations for UK residents. With Spanish property prices rising steadily and the market still showing growth, many find the allure of buying a property in Javea irresistible.
“Unlike places like the Costa Del Sol where property prices have already peaked, Javea in the Costa Blanca offers considerable potential for future growth. The infrastructure is already pretty good, but is steadily being improved to meet the needs of a growing influx of foreign property buyers to Javea,” says Mac. “Investing in Javea property at this time will be prudent as we expect prices to only go up at least for the next few years. But going beyond property prices, what we believe will really attract buyers from the UK is the incomparable difference to the quality of life that comes with owning a luxurious Spanish villa or well appointed apartment in Javea. And with us, buyers will be relying on one of the most experienced real estate agents in Javea.”
Story from 24-7pressrelease.com
October 12th, 2006
Parliament on Thursday approved a bill aimed at curbing near out-of-control urban development and spiraling property prices in Spain. The legislation, to come into force in July, was backed by all political parties except the conservative opposition Popular Party.
“With the instruments of this law we have to put the brakes on exorbitant house prices,” Prime Minister Jose Luis Rodriguez Zapatero told parliament. Housing Minister Maria Antonia Trujillo called it a “project against urban speculation and in favor of transparency and citizen participation.”
For more than a decade, the real-estate boom has seen large-scale housing developments, golf courses and holiday complexes spring up across Spain. Trujillo said the new legislation would help guide the property market to a soft landing, rather than a crash.
Concern also has grown after a number of local officials were arrested recently on charges of suspected fraud, money laundering and corruption related to urban development. Spanish media has reported almost daily about under-the-table commission payments. In the biggest case, nearly 60 people were arrested on charges relating to real-estate fraud in the southern jet-set resort town of Marbella, including a former mayor, several councilors, developers, art dealers and even a well known singer.
The new legislation would oblige all owners of land in the five years previous to its development to be listed in official documents, and would compel senior local government officials to declare their assets. It would impose more stringent checks on projects that would increase a town’s population by more than 20 percent. Thirty percent of new housing in major development projects would have to fall within government-controlled subsidized housing programs.
Last year, several protests gathering tens of thousands of people in Madrid, Barcelona and Valencia called for an adjustment in housing laws to enable young people to have easier access to affordable housing.
October 11th, 2006
Half of those who chose to make a new life in Spain end up returning home. But why does the dream turn sour for so many? Ian Frewer spoke to established expats who offer advice to the new arrivals on the Costas.
“A lot depends on whether they came to Spain, or whether they just left England.”
Steve Hall is a successful entrepreneur based in Torrevieja, near Alicante, in southern Spain, who also runs The Newcomers Club, a group offering advice and social contact to people newly arrived in Spain.
Offering advice is not always easy, to people who don’t want to take it.
“I reckon about half of those who come out here below pensionable age go back within two years,” Steve told us.
“A lot of the problem is that they believe too much of what they’re told before they come out here.
“They believe they’ll get a job, that they can manage on far less money than they actually need, that everything will somehow just fall into place. But it doesn’t. The truth is that jobs are few and far between, that you may not get a phone line for years, the area is saturated with British tradesman, the cost of living is not as low as people think, and that Spanish bureaucracy can drive you mad at times!”
Hall knows; he sometimes has the sad job of telling someone that their best bet is to return home, if they can’t manage in Spain, and he seldom gets any thanks for that piece of advice.
Gary and Terri Hart, both in their forties, originally from Huntingdon, in Cambridgeshire, are returning home to England as soon as they sell their house in Villamartin, on the Costa Blanca, in southern Spain.
“We thought I’d be able to make a living out here, me being an experienced builder, but it’s been hopeless.” Gary told us, “The only way to get any work is to price it so low that you undercut everyone else, and then there’s no profit in it. Terri helps out in a bar sometimes, but that only pays peanuts.”
But it isn’t just financial.
“I miss the children, but especially I miss seeing my grandson grow up. He’s three now, and he hardly knows me, when we go back,” said Terri, her eyes filling up with tears.
“My younger daughter’s expecting in November, and I just want to be there with her. We’re missing out on so much, and I can’t even speak to her often, as still haven’t got a phone line.”
“Much of it comes down to language,” Steve Hall told us, “Most newcomers don’t know any Spanish, and then they feel isolated. That’s why we give free Spanish lessons at the club. Learn Spanish, and you can always cope with a situation.”
It’s a different story for those who retire to Spain, with a decent pension. George and Rose Halliday are in their sixties, and moved to Spain four years ago, having previously owned a holiday apartment for years.
“We know the area, we have a circle of friends, and we can manage fine on our income.” Rose said.
“Okay, we miss the grandchildren, but they come out to see us quite often, and we go back two or three times a year. Our children are adult, now, and they have their own lives, so they don’t really miss us that much.”
George feels that, like so much in life, it all comes down to money; an income sufficient to support your chosen lifestyle, and to provide things like a telephone, and a computer for emails, and to pay for an interpreter when you need one, and to own a home you’re happy in, and to travel back to the UK when you feel like it.
“It’s all about income, not capital. With today’s interest rates, you need a heck of a lot of capital to provide a decent income, but a good pension, or shrewd investments give you the income you need. Money may not buy happiness, but it certainly helps!” he says.
Even so, a fifty-per-cent failure rate among expats who try to make a new life in Spain is an alarming statistic.
Peter Sharron runs a successful removal company in Alicante, in south-east Spain, and gets to speak to many of those returning to England.
“So many of those who go back came out here for a fresh start,” he told us, “They don’t do their homework, they don’t research the realities of life out here. I have to blame many of the selling agents, and even the TV shows that make it seem so easy to start up out here. The fact is that life may be different here, but you, you’re the same person as you were in the UK. You won’t miraculously become more successful just because the sun’s shining.”
“Forget about living the dream,” he said, almost sadly, “the reality’s what counts, and it isn’t easy living. If you don’t have the money in the first place, you’ve got an uphill struggle to make it out here. I just wish someone would tell them the truth, instead of leading them on.”
October 10th, 2006
With the rising prices in the UK, property is becoming more and more out of reach for the first time buyers looking to get a start on the property ladder. Research shows that it’s not only retirees flocking to Spain but the UK’s younger generation are becoming increasingly tempted by the low cost of property all over the shores of Spain. House building rates are far stronger than in the UK and there is continued demand for the typical tourist locations of Mallorca, Costa Blanca and Costa del Sol.
Principal International, a leading overseas property investment company say that Spain offers those young families looking for a new start a safe low cost of living environment with the added benefits of a warm sunny climate, and as its only 2 hours flying time from the relatives that they’ve left behind in the UK, the move across the shores does not seem so daunting.
The whole of the European property market reached record levels last year and Spain in particular has continued to draw serious investors as well as first time buyers looking for a low risk investment opportunity.
The latest Jones Lan LaSalle European Capital Markets report has confirmed that over 50% of the property transaction volumes came from cross border spending in 2006, indicating that investors are increasingly looking to riper markets across the channel to secure their money. Spain is a safe bet and an established market which almost guarantees that the rental opportunities are maximised, as well as the returns on property value.
With financial rewards on capital growth reaching as much as 12% in parts of Spain, the property market here continues to outperform equities and bonds. Principal International have a number of properties for sale in various locations all over Spain as well as other popular emerging European markets, see their website for details; http://www.principalinternational.co.uk/.
October 10th, 2006
With the hugely successful launch of the McLaren Mercedes 2007 season car the MP4-22 in Valencia recently, the city has clearly signalled its intention to not only host a Grand Prix in Valencia but to surpass Monaco’s present status as the epicentre of Formula 1 chic.
Valencia has the potential to be not only a bigger version of Monaco but a much more attractive one.The aim of the Valencian government is to stage the event around the harbour which will host the 32nd edition of Sailing’s America’s Cup later this year and the city’s emblematic “City of the Sciences”. McLaren Mercedes launched their new formula 1 car using the “City of the Sciences” as a truly spectacular backdrop. Have a look at it for yourself - http://www.cac.es/
Valencia is more than 70 times bigger than Monaco, occupying over 13,000 hectares as opposed to Monaco’s 195 hectares. Valencia has a population of over 800,000 compared to Monaco’s 30,000.
Accommodationwise, Valencia has more than 7,000 hotel rooms of which 750 are 5 star. Monaco has 2,500 hotel rooms, 1,700 of which are described as being luxurious.
Being more southerly, Valencia has a warmer climate than that of Monaco.The climate in Valencia is a micro climate, similar to that of the Canaries with over 320 days of sunshine a year and just about 2 weeks of rain.
Conferences are big business both in Valencia and Monaco. Monaco has 5 conference centres in total. In 2006, Valencia played host to in the region of 700 conferences in total.
Hotels in Valencia are already at 85% occupancy for this year’s America’s Cup.
Infrastructure in Valencia is much better than that of Monaco. As part of the preparations for the America’s Cup, the Metro has been connected both to the airport and the port. Monaco doesn’t have an airport, the nearest one being in Nice at 22 kms. Valencia should have a high speed train link to Madrid in place by 2010 which will reduce the travel time between the cities to around an hour and 20 minutes.
Formula 1 has been a mainstay in Monaco since 1950. The Valencian government has over the recent past used emblematic projects such as the “City of the Sciences” and the staging of world class events such as the America’s Cup as a means to increase the city’s exposure on the world stage and to give the city its merited place among Spain’s top cities (it being the third largest behind Madrid and Barcelona).
Only time will tell if Valencia can overtake Monaco in the Formula 1 “cachet stakes”. With the completion of the Juan Carlos 1st Marina of Valencia in preparation for the America’s Cup, the marina in Valencia will become the biggest marina in the Mediterranean overtaking Monaco which is presently the biggest marina in the Mediterranean. The fervent hope amongst the Valencian government is to similarly surpass Monaco but this time in the world of Formula 1.
All of this is great news for Valencian property owners, especially city property owners as increasing cachet will undoubtedly mean increasing property values.
October 4th, 2006
Valencia which will host the 32nd edition of Sailing’s America’s Cup later this year has let it be known that the city intends to play host to a Formula 1 Grand Prix in the near future.
Onlookers were left in no doubt when McLaren Mercedes chose the city to launch their car for 2007 the MP4-22. The reigning World Champion Fernando Alonso was greeted by over 250,000 ecstatic fans as he launched the new McLaren Mercedes at the city’s spectacular “City of The Sciences Complex”. An improvised circuit of 3.5 kms was created around the City of The Sciences with the aid of the Valencian government both to showcase the MP4-22 and the city of Valencia to the international sporting press.
Bernie Ecclestone has let it be known for some time that he is looking for a city circuit similar to that of Monaco so as to add a bit of variety to the Formula 1 calendar. Valencia sees itself very much in the mould of Monaco, only bigger. Once the preparations for this years America’s Cup are completed, the city’s marina renamed the “Royal Juan Carlos 1st Marina of Valencia” will surpass the Med’s biggest marina sizewise which is presently Monaco.
The prestigious Formula 1 architect Herman Tilke was noticeable by his presence in Valencia last week. He was responsible for the design of the Malaysian, Bahrain, Shanghai and Istanbul circuits. If Formula 1 is to come to Valencia in the near future, then Mr. Tilke will have a key role to play in the design of the street circuit which Bernie Ecclestone is looking for.
Speaking to the media Mr. Ecclestone let it be known that the ball is firmly in the court of the Valencian government. If this is the case, then Formula 1 will come to Valencia; it only being a question of when.
The Valencian government has proved itself more than capable in the recent past of attracting world class sporting events to the city. It paid €90 million to bring the America’s Cup to the city and will undoubtedly play a significant role in attempting to bring the Champions League Final to the city in 2010 something the owner of Valencia Football Club, Mr. Juan Soler intends to do so as to inaugurate the club’s new stadium (expected to be completed in 2009).
A debate has started in the city as to whether it would be better to stage the event at the city’s racing track in Cheste just outside the city. Bernie Ecclestone left the local media in no doubt as to his choice of venue : “If we do anything in Valencia it will be an urban circuit”. Mr. Ecclestone professed a deep love of Valencia and let it be known that he sees Valencia becoming one of the Mediterranean’s principal points of reference.
All of this is of course great news for all Valencian Property owners, especially those who own property in the city’s most sought after areas. The more exposure the city gets on the world stage, the greater the cachet that will attach to its prime property.
