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Category: myVIVA Property (box 1) (135 articles)

Two-thirds of foreign buyers don’t need a mortgage, reports Spanish daily

As property in Spain has become more affordable, more and more foreign buyers are snapping up homes with cash.

A recent report by Spanish national newspaper El Mundo has found that as many as two-thirds of non-Spaniards who bought property in Spain over the past six months did so without requiring a mortgage.

El Mundo reports that cash-rich buyers from the UK and Scandinavia have been taking advantage of the favourable exchange rates and snapping up affordable property in Spain with cash…

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Author:Ian Clover 15/04/2015 [0] Comments 
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Marbella, Spain's Southern California says The Wall Street Journal

Author:Carolyn Mowlem 15/04/2015 [0] Comments 
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Spain’s growing property market begins driving employment

Employment opportunities in Spain's real estate sector are set to rise as the industry grows once more.

As confidence, cash and foreign buyers have all flooded back to the Spanish property sector over the past few months – drawn by stabilising prices, favourable exchange rates and a mature outlook – the industry has also begun to generate more employment opportunities within Spain…

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Author:Ian Clover 10/04/2015 [0] Comments 
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Spain and France attract 70% of all Brits hoping to buy abroad

Through good times and bad, Spain's appeal to Brits has been unwavering.

A new poll by foreign exchange specialists HiFX has found that 70 per cent of Brits considering buying property overseas focus their attention solely on Spain and France.

According to the survey, both Spain and France attracted 35 per cent of interest each, with the USA and Switzerland the highest risers. However, Spain’s perennial battle for top-spot with France looks set to continue for some time – the two nations have claimed the top two spots every year since 2007

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Author:Ian Clover 09/04/2015 [0] Comments 
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Marbella in driving seat of Spain's property market recovery

Marbella's property market has picked up faster than any other Spanish region.

Data from Spain’s National Statistics Institute (INE) has revealed that the number of property transactions in Marbella increased by 28 per cent in 2014 – a higher rise than any other area of the country.

According to the Ministry of Development, the rate of transactions in Marbella last year was also 12 per cent higher than 2007, and growth in the market has been more rapid than even Madrid, Barcelona or any of the Balearic islands

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Author:Ian Clover 06/04/2015 [0] Comments 
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VIVA View: Spain’s compensation ruling is a sign of a maturing property market

Spain's property market is far more mature and transparent these days.

It always felt doubly cruel. Not only were homeowners who had unwittingly purchased illegally built property told that their homes would be demolished, but they also learned that they would, in the process, lose everything.

No compensation. No money. No ‘our hands are tied’ apology. Nothing. Appeals could be lodged, court hearings could be made, but the bottom line remained unwavering: homes built illegally would have to be demolished. No exceptions.

Not only did this scandalous behaviour turn the dreams of thousands into an unending nightmare, but it also served to damage Spain’s property market – and the country’s wider reputation – in the eyes of foreigners…

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Author:Ian Clover 20/03/2015 [0] Comments 
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Global media note Brits' rekindled love affair with Spanish property

Read all about it: Spain's property market has returned to rude health, and the world's media has noticed.

The media loves a good bad news story. The more lurid the headline, the more it lurches out at you from the newsstand. The more dramatic the detail, the more engrossed the reader. Living vicariously through the whims of the world is what people do, and when things go bad, readership rates rise.

Not 12 months ago this trend certainly held true for the Spanish property market, with the UK media particularly keen to stick the boot in at the merest whiff of trouble. From Brits fleeing the Costas in their droves to pensioner expats being issued with demolition notices, anything that could be deemed damaging to Spain’s property industry was given prominence in much of the national media.

But what a difference a year makes

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Author:Ian Clover 13/03/2015 [0] Comments 
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Spain’s Golden Visa scheme attracts 530 applicants

A luxury home AND the right to reside in Spain? The Golden Visa is an attractive scheme for many

Since its launch 15 months ago, Spain’s Golden Visa scheme – introduced to attract wealthy non-EU investors to the country’s property market – has so far registered 530 applicants.

The Visa scheme grants automatic residence and working rights in Spain to individuals who spend more than €500,000 on property in Spain. Such an investment can be spread across a portfolio of properties, and investors can include their family, dependants and unmarried partners in the visa – an added attraction that has evidently appealed to a large handful of Chinese, Russian and Arab investors…

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Author:Ian Clover 11/03/2015 [6] Comments 
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Brits drawn to affordable Spanish beach property

Obvious attracts: the allure of beachside Spanish property is proving strong to British buyers

The resurgent strength of the Spanish property market is manifesting in a greater desire among British buyers for affordable beachside homes – something that Spain has in droves.

Underpinned by the country’s wider economic recovery, the Spanish property market has begun to recover the gusto that characterised it at the turn of the millennium, only this time with greater transparency and appeal to discerning British buyers…

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Author:Ian Clover 05/03/2015 [0] Comments 
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Spanish house prices post first nationwide rise since 2008

Although slight, the nationwide recovery in Spanish property prices is an encouraging sign for the market

House prices in Spain recorded their first nationwide average increase since 2008 last month, as the recovering property market spreads across the entire country.

Data from the Public Works Ministry showed that the trend began in the last quarter of 2014, with prices for existing homes across Spain rising in value by 0.5 per cent at the end of the year…

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Author:Ian Clover 02/03/2015 [0] Comments 
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