Archive for the ‘Generic’ Category

Credit crunch ‘not deterring property investors’

July 16th, 2008

Property investors from Britain are still very willing to purchase a foreign residence, a new study has found.

According to Jet-to-Let magazine, the credit crunch is not putting people off the idea of investing in bricks and mortar, particularly in other countries.

Research by the publication found that respondents unanimously believe that buying a foreign property is a better option than putting money into stocks and shares.

In addition, results showed that most investors are not buying abroad in order to collect short-term gains.

For example, 98 per cent of those surveyed said they plan to use their overseas residence as part of their pension plan.

Dominic Farrell, editor of Jet-to-Let magazine, commented: “The results clearly show that educated investors understand the long-term nature of property investment.”

According to figures from Holiday-Rentals, 31 per cent of British-owned foreign properties in Europe are located in Spain.

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Spain offers bargain properties

July 16th, 2008

Overseas property investors who are in search of a bargain have been encouraged to consider the Spanish market.

According to ShelterOffshore.com, the European country currently offers a number of opportunities for foreign buyers.

The website said this is partly because the housing market in Spain is currently undergoing a price correction.

As a result, buyers could potentially “call the shots” throughout the purchasing process, especially if they are paying with cash.

ShelterOffshore.com said: “Spain is a great market offering real opportunities right now.”

However, the website added that prospective buyers still need to take important issues into account when purchasing a residence.

For example, it stated that investors should consider the location and quality of their home, as well as current market conditions.

This comes after Kyero.com revealed that many people are holding off on making a purchase and waiting for prices to come down.
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Repossessions offer buy-to-let Spanish bargains

July 16th, 2008

Real estate experts have claimed that with repossessions increasing, foreign property seekers were being presented with some excellent investment opportunities in Spain.

Reflecting on the effects of the ‘credit squeeze,’ real estate firm Propertyinspain.net claimed that repossessions were bringing a steady supply of properties back onto the market, providing bargain opportunities.

The company claimed that the growth of the Spanish economy and strong job creation in particular areas made buy-to-let purchases on re-sale properties a sound investment, with plenty of new workers in the area guaranteed to supply rental demand.

Terry Walker, spokesperson for propertyinspain.net, advised buy-to-let buying in Spain, claiming: “Some of the areas where they’re located are showing economic growth anyway. People are coming in with the new IT and logistics industries.”

Explaining the new availability of quality properties, Mr Walker added: “There are properties for about 30,000 euros but spend the same again and you’ve got a lovely family house in the middle of a village.”

He added that the Costa del Sol – already a highly desirable area for British buyers – was one of the areas presenting bargain buys after repossessions.ADNFCR-1239-ID-18394501-ADNFCR

Property buyers go to year-round destinations

June 26th, 2008

Countries which attract holidaymakers all year round could be good places for overseas property investors to consider.

According to Holiday-Rentals, Spain is currently one of the most popular destinations among its clients.

This was said to be because the European country is consistently popular with tourists for 12 months of the year, which means it has strong rental potential.

Sarah Chambers, spokesperson for Holiday-Rentals, commented: “60 per cent of our clients own one or two foreign homes.

“They almost always rent them out for the whole year.”

Speaking to the Telegraph, she added that investors need to make clear that there are year-round attractions near their property when advertising it to potential tenants.

This comes after Holiday-Rentals revealed that 31 per cent of British-owned foreign properties in Europe are located in Spain.

The organisation said this is partially due to the number of cheap flights servicing areas such as the Costas.

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Britons escape falling house prices at home

June 26th, 2008

People in England are increasing selling their homes and using the capital to buy abroad, it has been revealed.

The Emigration Group stated that falling house prices in the UK have directly contributed to the popularity of moving abroad in the last few months.

Speaking to the Cambridge News, company director Paul Arthur said this is because people want to make the most of the value of their home before it falls even further.

This trend was said to be highly apparent in southern and eastern England, for example counties such as Cambridgeshire and Essex.

Mr Arthur commented: “House prices have peaked and people with more equity realise they can get a different lifestyle abroad.”

According to the BuyAssociation website, Spain is currently one of the main hotspots among Britons who want a foreign property.

Property editor Paul Collins said this includes those who are looking to live abroad on a permanent basis.

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Credit crunch drives Scots abroad

June 3rd, 2008

One in five Scots would consider moving abroad to escape the credit crisis in the UK, a new YouGov poll has revealed.

Commissioned by Legal & General, the survey shows that 19 per cent of Scots would consider moving abroad to escape rising living costs, reports the Scotsman.

Earlier this week it was reported that consumer prices were running at three per cent, well above the government’s target of two per cent.

Tim Warren, wealth communications director at L&G, told the paper: “In the current financial climate it’s prudent for people to tighten their belts.

“But it is still startling that so many Scots would be prepared to leave the country.”

It is possible that many Scots would consider moving to Spain, which already has a strong expatriate community.

According to the Office for National Statistics, the price of food, electricity and gas is responsible for pushing up inflation.

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Spain attracts American golfers

June 3rd, 2008

A growing number of American golf fans are choosing to visit the Spanish Costas, it has been revealed.

According to David Brice of Golf International, Spain saw a double digit increase in the number of visitors from the US last year.

Writing for PGATour.com, he said this occurrence is practically unheard of in most European countries, as an increase of about six per cent would be considered a major achievement.

Mr Brice partially attributed this to the growing international profile of Spain’s golf courses, such as Valderrama in the Costa del Sol.

Commenting on this trend, he said: “Americans becoming increasingly aware that the Iberian Peninsula is filled with everything they are looking for in a destination.”

He added that the dollar can go much further in Spain than in many other European countries.

This comes after easyJet highlighted the Costa del Sol as a hotspot for British tourists during the recent bank holiday weekend.

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Spain opened up to Yorkshire-based holidaymakers

June 3rd, 2008

Holidaymakers from West Yorkshire will soon be able to benefit from additional flights to Spain.

New flights to the European country will be launched from Leeds Bradford International Airport (LBIA) by Thomas Cook Airlines later this year.

The Spanish services are part of an overall plan to boost its capacity at the airport by 20 per cent ahead of the summer season.

According to Thomas Cook Airlines, the flights are being introduced in response to strong demand from local consumers.

Frank Pullman, managing director of the carrier, commented: “Everyone at the airline has worked incredibly hard in preparation for the summer season, so we are looking forward to serving the holidaymakers of Yorkshire.”

Tony Hallwood, commercial and aviation development director at LBIA, added that being able to fly directly from their regional airport is a big priority for consumers when they book their holidays.

The introduction of the new services looks set to have a number of positive consequences for Spain, including increased tourism and a possible surge of interest among foreign property buyers.

A Place in the Sun magazine recently revealed that Spain is currently the most popular destination among investors from the UK.
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Sevilla offers numerous attractions

June 3rd, 2008

Sevilla - the capital of Andalusia - is one of the great historic centres in Europe, it has been stated.

Celia Ferro, writing for travel portal ThinkSpain.com, highlighted attractions including the city’s 15th century cathedral, which is one of the largest medieval and Gothic cathedrals in Europe.

She also said the Plaza de Espana in the Parque de Maria Luisa is worth a visit – not only because it is one of the best plazas in the world but because appears in Star Wars Episode II: Attack of the Clones and in Lawrence of Arabia.

Ms Ferro added that Sevilla has numerous bridges that cross the channel of the plaza, which took 15 years to build in the early decades of the 20th century. It is fashioned out of red brick, local tiles and marble.

Finally, she said the quantity of tapas that can be had in Seville is “incalculable”, with many of the dishes fish-based. High-quality wines and beers can also be found.

Sevilla lies on the banks of the Guadalquivir and, according to legend, was founded by Hercules.

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Travel guides ‘can improve holiday in Spain’

May 6th, 2008

Holidaymakers should take a travel guide with them when heading abroad, according to a publishing firm.

Travel specialist Footprint said leisure travellers could improve the quality of their trip if they take a “well-written” travel guide.

Andy Riddle, managing director of the company, said following the advice of an author who knows the country would act as a shortcut to the best experiences it has to offer.

Not carrying this information could, he stated, result in visitors missing out on many of its attractions.

Mr Riddle commented: “A good guide book is a great starting point for getting to understand a country and the choices you have when on the road.”

He added that most guide books are written by authors who know their subject “inside out”.

This, he said, “shines through” when people are using them while overseas.

Spain was recently named as the most popular destination for British families who are planning to head abroad this summer by MyChild.co.uk.

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