Archive for the ‘Financial’ Category

Accessibility ‘important to investors’

April 15th, 2008

Accessibility to a country is one of the most important factors to consider when eyeing up a property purchase away from the UK.

This is according to the Telegraph, which reports that regional governments are always keen to attract budget airlines - such as easyJet, Monarch and Ryanair - to establish routes linking to their regions.

Destinations with more links to foreign countries can be attractive to investors as they know that there could be more of a market to tap into.

However, the newspaper does warn that investors need to be aware of the negative side of this - when carriers drop services unexpectedly.

It states that airlines can change their plans “with little warning”, which is something those people making an overseas property investment should be aware of.

One reason Spain has been popular for property investment is because there are frequent flights from a variety of airlines and airports across the UK.
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AIPP responds to Rics’ house price survey

March 27th, 2008

Suggestions that the European house price boom is over are a “bit over the top”, according to an industry expert.

In reaction to Royal Institution of Chartered Surveyors (Rics) research that said slowing house prices across Europe meant it was the end of an era of substantial growth, Association of International Property Professionals (AIPP) chief executive Paul Owen indicated this was too negative a theory.

“It is a bit apocalyptic to talk about the boom being over because prices have slowed,” he commented.

There are still people out there who would like to buy overseas property, it is just a case of them waiting to see what is going to happen to the economy in the coming months, he added.

Mr Owen also highlighted emigration statistics, saying that there are still a high number of Britons looking to leave the UK on a full-time basis.

AIPP is the industry body for the world’s property sector.
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Real estate-savvy Bancaja shines in financial ratings

December 5th, 2007

Leading investment bank Bancaja has continued its positive strides of recent years, gaining an encouraging report from an independent credit review.

Bancaja, Spain’s third largest savings bank, was reviewed by Moody’s Investors Service, with the long-term rating of the group confirmed at A1.

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Moody’s highlighted the group’s rising margins over the last few years – especially business margins- and commended Bancaja for favouring a good efficiency ratio.

Meanwhile, the bank’s short-term rating was confirmed at P1 level, while financial strength ratings also held their C+ level – identified by Moody’s as impressive achievements in the current market situation.

A key element of Bancaja’s business is its real estate branch, an element of the firm that Moody’s singled out for particular praise.

The risk analysis and financial review specialist said that Bancaja’s concentration of risk in the real estate sector was considerably lower than average in the savings banking sector – making the firm less vulnerable to the difficulties currently affecting other real estate and mortgage lenders.ADNFCR-1239-ID-18372881-ADNFCR

Beachfront golf view property ’still affordable on Costas’

November 26th, 2007

Despite the massive popularity of Costa del Sol resort towns like Marbella, real estate advisors have claimed that top bargains can still be struck on beachside properties.

Information portal Easier.com said that beachfront apartments and villas with “uninterrupted golf views” could be found in close proximity to Marbella for prices below €400,000 (£286,000).

Explaining what could be snatched up for the reasonable price tag, Easier.com said that two bedroom two bathroom properties with access to leisure facilities like swimming pools and putting greens were still a real bargain possibility.

The site highlighted the bargain value of property in the highly sought-after Estepona area of the Costa del Sol, to the west of Malaga and Marbella – expounding the myth that beachfront property in top locations came only at a high price.

Beachfront houses with close proximity to golf courses are some of the most sought-after in Spain, with southern areas like the Costa del Sol boasting world famous golfing sites like the Valderrama course, host of the Ryder Cup in 1997.ADNFCR-1239-ID-18369085-ADNFCR

Travel agents and online services ‘both relevant’

November 19th, 2007

Travel specialists have claimed that the tourism industry has adapted to online openings and increasingly ambitious travellers to make it easier than ever to discover other countries.

The Association of British Travel Agents (Abta) claimed that UK travellers were confident booking all sorts of trips, with travel agents adapting to their needs and remaining relevant despite do-it-yourself online booking options.

Recent research from the European Travel Commission revealed that nearly a third of Brits conducted all holiday planning and booking online – with locations like Spain made easier by a wealth of cheap flight and online accommodation booking services.

Frances Tuke, spokesperson for the Abta, said that the vast amounts of UK holidaymakers with different demands meant that while online services were a popular starting point, the tourism industry still offered unique perks.

"There are always going to be people who want the security and the expertise that face-to-face can give you and as a result, the expertise on the high street has gone up."

"People have specialised in certain destinations and also many of them have gone up-market as well," she added.

Visitors and property-seekers in Spain can benefit from a huge UK services industry centred around what is the favourite destination for second-homes, with customers often seeking regional specialists to help hone in on the part of Iberia of interest to them.ADNFCR-1239-ID-18360003-ADNFCR

Simple property taxation ‘will make Spain endure’

November 16th, 2007

Spanish property will withstand any global credit crisis and will even weather winter demand dips because of the country’s welcoming real estate and taxation policies, it has been claimed.

Spain-property.biz claimed that despite a downfall of property prices in the US and elsewhere, Spanish property would continue to boom thanks to the Iberian market’s openness to foreign investors.

The site underlined the tax advantages for foreign owners in Spain, claiming that Brits could enjoy property ownership with only two known real estate taxes to pay.

Spain-property.biz cited the annual property income tax (Impuesto Sobre Bienes Inmuebles (IBI)) and the monthly garbage collection tax (Basura y Alcantarillado) as the only direct payments on property – making Spain an easy and affordable option.

Many Brits daunted by the price of property at home and by complicated buying procedures elsewhere opt for Spain, where they know the taxation and registration system will be well adapted to British buyer needs.ADNFCR-1239-ID-18358293-ADNFCR

Spain holds bargain areas even on coast

November 15th, 2007

Spanish real estate specialists have claimed that UK buyers are finding top property bargains in many beautiful but as yet underrated Iberian locations.

Property forum Kyero.com identified below average house prices as a prime incentive for property seekers looking into up-and-coming regions in the north-east and south-east of Spain.

The Cuenca area of Castilla La Mancha, just north-west of Valencia, Spain’s third city, was claimed to be a bargain area, with the average property price around €41,000 (£29,000), well below the Spanish average of €248,000.

Meanwhile the Catalonian province of Tarragona on the north-east coast was also identified as a location for bargain-hunters on a slightly higher budget, with average property valued still below average at €226,000 – showing that seaside property can also be affordable.

Neighbouring north-eastern coastline the Costa Azahar has also been identified as a top location for picking up coastal property at below average prices – and in a region famed for its tranquillity and authentic Spanish lifestyle.

Martin Dell, managing director of Kyero.com, said that there was plenty available for UK seaside-seeking property hunters.

"The majority of British buyers are still looking for coastal locations and with nearly 5,000 km of varied coastline from spectacular cliff faces to white sandy beaches Spain does not disappoint."ADNFCR-1239-ID-18356592-ADNFCR

Spain wants hi-tech workers

November 9th, 2007

Brits working in hi-tech industries who fancy a change of lifestyle could be tempted by a Spanish call to action.

It has emerged that the Spanish hi-tech sector is looking to recruit as many as 10,000 overseas workers, with Brits likely to flock to the appeal.

With fewer young people in Spain studying technical degrees, the IT-based industries have sounded the alarm, inviting foreign skilled workers to meet the opportunities in the sector.

Spanish hi-tech industry association AETIC is spearheading the appeal, with the electronics, IT and telecommunications firms comprising it looking to countries like Britain for the skilled and flexible workers they need.

Convincing people to come to Spain and adopt the local lifestyle should not be difficult, with British property-seekers and holidaymakers already flocking to Spain in greater numbers than anywhere else.

Barcelona is one of the key cities identified for the IT recruitment drive, with the bustling city and tranquil surrounding regions like the Costa Azahar making it a likely hit with those who respond to the call.ADNFCR-1239-ID-18349467-ADNFCR

GB Airways acquisition opens Iberian options

October 29th, 2007

EasyJet has completed the acquisition of GB Airways, a budget provider of flights to Spain and elsewhere, for a total of £103.5 million.

Announcing the acquisition as part of its expansion strategy, EasyJet will be able to consolidate and strengthen its European flight routes, gaining an even bigger base at Gatwick airport thanks to the GB Airways slots.

The budget carrier acquired by EasyJet is currently a British Airways (BA) operated provider, flying 34 routes from Gatwick and Heathrow airports, and six from Manchester.

Some GB Airways routes will continue to be operated under the BA brand until March 2008, but in losing flights to EasyJet, BA plans its own routes to continue serving Spain, Portugal and elsewhere.

Planning to continue running from Heathrow and Gatwick, BA is looking to serve the Costa del Sol resort Malaga from both London airports, as well as other Iberian locations like Faro, Gibraltar and Ibiza.

Meanwhile EasyJet highlighted the benefits it would draw from the acquisition: “By winter 2008/09 GB Airways will be fully consolidated into the EasyJet business model, releasing cost savings.” ADNFCR-1239-ID-18334601-ADNFCR

Spanish mortgages ‘easiest around’

October 26th, 2007

Spain has been hailed as a great property location thanks to its accessible and easy processes for buying a house.

Real estate specialist Propertyshowrooms.com said that buying in Iberia was very easy – and allowed access to a country with the most modern and comfortable of amenities.

Nicky Segal of Propertyshowrooms.com, said: “Spain is still fantastic for accessibility. Interest rates are probably the lowest around and mortgages are very easy to obtain, so finance is not a problem.

“On some developments you can sometimes get 100 per cent finance,” she added, highlighting that all of these advantages were within a stone’s throw, with the country “very easy to get to”.

Halifax recently claimed that Spanish property prices had increased by as much as 100 per cent over the last five years – making it the fastest grower in Europe – with the facility of mortgage procedures bringing in more and more overseas buyers.

Ms Segal highlighted the attractions of the lifestyle for those who took out mortgages and set up a new life in the country: “Spain is a great area, there’s nothing that you can’t get, there’s loads of facilities, loads of amenities – it’s great for old and young alike.”ADNFCR-1239-ID-18331719-ADNFCR