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More than 80% of properties bought in Marbella in Spain are bought by foreigners, much higher than the country’s average, new research shows.

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Overall data from Spanish registrars show that 13.8% of properties are sold to overseas buyers as of the end of 2015 and of those more than 60% were from within the European Union. But the Marbella Property Market Report 2016 from Panorama Properties Marbella, a well-established estate agency, shows the area is very popular as it is regarded as a safe and high quality destination for investment.

According to Christopher Clover, the firm’s managing director, there has also been a change in where the foreign investors come from and he is predicting an influx of Iranian buyers thanks to the newly opened Iranian market.

‘Marbella has been a popular tourist destination with Iranians for decades and the property market looks set to benefit strongly from that affection over the coming years,’ he explained.

At the same time there are fewer British buyers right now and this may be due to the forthcoming referendum on the future of the UK in the EU. ‘British buyers in the lower price ranges, who for years have accounted for the largest market share of foreign buyers in Spain, are sometimes pausing when it comes to purchasing their dream home in Marbella. The distraction of Britain’s potential exit from the EU has caused a few to hold fire on purchasing property in other EU countries,’ said Clover.

Assuming the UK remains within the EU, a surge of property purchases by British buyers in and around Marbella can reasonably be expected during the late summer months and from a medium to long term viewpoint, Clover believes that the trend of British purchasers for property in the Marbella area will not be greatly affected whether Britain stays in the EU or exits.

While British buyers stop and think, Spanish buyers are using the pause to gradually return to the Marbella property market, the report also suggests. The number of Spanish residents visiting Marbella plummeted from well over 350,000 in 2006 to just over 100,000 in 2013, but numbers have since been rising, returning almost to 250,000 visitors in 2015.

‘As Spanish visitor numbers pick up and the national economy continues to improve, so too will Spanish interest in the Marbella property market. Those buying in Marbella right now are after a wide range of property types, which is precisely what the area provides,’ Clover explained.

Many buyers are looking for new build properties in Marbella, but developer stopped when the economic downturn hit eight years ago. ‘However, investment groups have been quietly buying up the best building sites over the past two years, so the coming five to 10 years should see an influx of prime new build properties onto the market,’ said Clover.

The report also points out that the number of sales in Marbella reached 4,390 in 2015, less than1% short of the number of sales in the pre-crisis boom year of 2006 when 4,432 properties were sold.

‘It is interesting to note that the rate of increase of sales in 2015 over the prior year has dropped compared with the increase of sales in 2014 over 2013, which was an astounding 28.3%,’ said Clover.

‘The explanation is a simple one: there existed a strong pent-up demand for properties in Marbella with buyers waiting for the bottom of the market before buying. During 2012 and 2013 it became evident that the market bottomed-out in 2011 and the bargain seeking buyers rushed to purchase properties before prices started rising once again,’ he explained.

‘With most of that pent-up demand satisfied, the rate of growth in the number of residential properties sold in 2015 compared to 2014 has consequently dropped to what still remains a healthy 9.83 %,’ he added.

While, according to all published indicators prices are increasing again, price levels on a national basis are still 28.4% below the peaks at approximately 2004 levels. However, Panorama’s records show that prices in Marbella today are about 20% below the peaks, with notable exceptions of some of the best located properties which have held their prices far better than properties in other locations, and which are only between 10 and 15% away from market peaks.

Clover believes that further evidence of market improvement is provided by the many Marbella area owners who are beginning to raise their asking prices. ‘In the last year, one out of every three owners who have their properties for sale with Panorama and are adjusting their asking prices raised them rather than lowering them,’ he added.

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It seems Spain’s footballers aren’t the only ones preparing for a busy summer season, as those in the construction industry celebrate an encouraging start to 2016. The latest figures published by the Ministry of Public Works reveal that the number of licences authorised for the building of new homes in Spain amounted to 16,782 in Q1 of this year.

This is a substantial 57.1% increase when compared to the same period in 2015 and the best quarterly result recorded since 2011. Such a boom in residential construction is a direct result of the significant return of overseas buyers to the Spanish market. The demand from overseas buyers continues to grow, especially from those residing in neighbouring European countries.

According to the most recent data revealed by leading Spanish homebuilder, Taylor Wimpey España, the total YTD sales as of April 2016 have risen in comparison to last year, with British buyers increasing by 48%. As a growing number of Brits seek out their own slice of Spanish sunshine, it is the Costa del Sol that is proving most popular, with almost half of buyers choosing to purchase their property in that region.

Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España, believes it will be a scorching summer for Costa del Sol property as momentum builds within the market. He explains,

“Construction within Spain’s residential sector is rising once more, as the demand from overseas buyers continues to strengthen the market. The Costa del Sol has always been a prevalent destination for Spanish holiday homes and is fast becoming the favourite once again amongst British second homeowners. As British buyers choosing Spain’s southern coastline increases, so too does the optimism surrounding the market and we would expect this positive trajectory to continue throughout the rest of the year.”

One of Taylor Wimpey Espana’s latest additions to the Costa del Sol skyline is the picturesque La Floresta Sur. Set in beautiful surroundingsdeclared a natural biosphere reserve by UNESCO, this new phase of La Floresta Sur is situated near the village of Elviria and its beach, close to Marbella and Malaga.

Designed in a typical Mediterranean style, from just €202,000 +VAT, the 2 and 3 bed apartments and penthouses include an Italian-designed integrated kitchen with Silestone worktops, thermal and acoustic insulation and air-conditioning included. Benefitting from stunning views towards the oak and pine forest as well as towards the sea, the resort boasts two large communal swimming pools, landscaped gardens and external private parking.

Phase IV of the development is due to be completed this summer and the remaining units are now available with an exclusive special offer. Taylor Wimpey España are including a fully equipped kitchen, shower screen and lighting furnishings within the purchase price

With large terraces on which to enjoy the beautiful sea views, La Floresta Sur is a ten minute drive from two of the best known golf courses on the Costa del Sol, La Cala Golf Resort and Santa Maria Golf, and has direct access to El Soto Golf Club. It is also just a few minutes from the exclusive Nikki Beach Club.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 244.

Costa del Sol, the popular holiday spot in the southern Spain, plans to boost its sport tourism sector and thus to diversify the offer of the destination especially in winter.

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Costa del Sol has created a Sport Destination brand with a view to promote its sports tourism. The new campaign brings together all existing initiatives in this segment. Through sports tourism the authorities plan to boost local tourism especially during the weak months in winter.

According to the president of Costa del Sol Tourism, Elías Bendodo, the region has a good chance to succeed on the sports tourism market.

The tourism board will draw on the experience of tourism asset management and the golf and sailing segments, and plans to add initiatives related to football, swimming and other sports.

The climate and the facilities available in Costa del Sol should facilitate the promotion of the province as an attractive place for football events or pre-game meetings of international teams.

“Many sport clubs are already coming to Costa del Sol but we want to improve our position on the market,” Bendodo declared, while noting that besides the sport facilities the region provides a wide variety of hotels and leisure services.

He also said that the prestige of the brand “Spain” will be exploited: “If there is anything at which Spain is good, it is sports,” said Bendodo.

Last winter, Costa del Sol recorded 11.7% growth in domestic and international tourists and 12.3% in overnight stays compared to the same period last year.

According to Bendodo, the region ended 2015 as the all-time best year, with 10.6 million tourists, and he expects to exceed that figure in 2016. The aim is to boost the first-time visits to the province. The authorities expect an increase in tourist numbers also due to the instability of other competing destinations such as Tunisia and Egypt.

The latest report published by the Council of Property Registrars has confirmed that foreigners are buying more property in Spain than ever.

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In concrete, international investors acquired almost 48,000 properties in the last year, which is an increase of more than 13% from the previous 12 months.

The report also revealed that the British are still the top buyers of Spanish real estate, and make up 21% of the total of all purchases made by foreigners.

This calculates at approximately 10,000 homes bought by investors or tourists by a nationality whose relationship with the rest of the Europe is currently in doubt if the UK exits the EU. Business relationships and commercial deals may become a lot more difficult if Brexit does happen.

In nowhere near the same volume, the next top property-purchasing nationalities are the French, German and Swedes, who each make up between 6 and 7% of the total purchases made by foreign buyers. The Chinese represent around 4% of all purchases.

Total purchases: nationals + foreigners

And, as you can imagine, as the number of property purchases go up so too do house prices, especially in areas where foreign buyers tend to prefer.

The first quarter of 2016 closed with house prices rising 6.9% annually, slightly up on how much prices also increased at the end of 2015.

Between January and March 2016, a total of 100,000 properties were sold just in that quarter. This is the highest figure for the last 12 quarters, or the last three years, and the second highest figure for the last 20 quarters.

And, this rise in the number of house purchases has been registered across almost every region, as 16 autonomous regions saw the number of property sales go up for the same period from the previous year.

The majority of sales took place in the regions of Andalucía, Cataluña, Madrid and Valencia.

With such a good start to the year, it looks as though the sector could be in for its best year regarding property sales.

 

Source: www.elmundo.es

On 16 of June you have a date. Mark it in your calender if you want to enjoy World Tapas Day, celebrating this type of ‘mini-cuisine’ typical of Spain, associated with sharing with others and ‘tasting the moment’.

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World Tapas Day is celebrated simultaneously in many cities around the world and presents a complete programme: tastings, show cooking, activities in local markets, and more…

A delicious plan!!!

Tapas are a type of aperitivo, or appetiser, usually eaten with beer, wine or cider. They can be cold, hot, served on toast, or in clay pots, and many establishments have house specialities. Although they are meant to whet the appetite before lunch or in the late afternoon, if you end up eating lots they can substitute a meal. The price of tapas can vary greatly.

In some places you have to order them and in others they are served free with a drink, although in this case you can’t choose the tapa, as the establishment will offer those that they have prepared, their most typical tapa, or the ‘daily tapa’. And, if you want more of a tapa that you liked, you can always order them off of the raciones menu (full plates) which have a fixed price.

Going out for tapas will make it easier to meet people. You are not going to get more Facebook friends, but it is a great custom practised in a group, although you can also do it with a friend, as a couple, etc. Ideally you will stand near the bar where you can try different varieties while you chat. Each time you order drinks for the group it is called a ronda, or round. You will probably hear someone say, ‘This round is on me!’ A tip: don’t stay in just one place; it’s better to change bars and try a bit of everything in the ‘tapa area’, usually found in streets of the historic centre.

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In good weather, it is typical to sit on one of the open-air terraces. In addition to the good old regular bars, in many cities you can try tapas in other more modern spaces, like gastrobars or old converted markets that are now gourmet markets. And if you are lucky, your trip will fall when a ruta de la tapa (tapa tour) is being organised, perfect for trying out different bars and deciding on your favourite tapa. There are various myths surrounding the origin of the tapa: from that in the seventeenth century King Alfonso X asked to be served small portions of food to accompany wine to that it was once customary to serve a drink tapada, or covered, with bread and cured meats so insects would not fall in.

Whatever the truth may be, the tapa has won us over. Ultimately, the most important thing when going out for tapas is to enjoy the food, the company and, of course, life itself. And that you ask things like, ‘Where can I get the best croquetas in the city?’, that you invite someone out for cañas, that you make friends…and that your mouth waters.