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Today is Three Kings Day in Spain, a very special day spent celebrating with family, much like Christmas Day is here in the UK.

 

It is a national holiday celebrated across the country as the Three Kings arrive bearing gifts. The annual parades start at sunset on 5th January all over Spain, with crowds gathering to welcome the kings, and sweets and treats being handed out to children.

 

Tradition has it that the children then leave out shoes to be filled with gifts from the Three Kings, and today is spent celebrating with family, food and the exchanging of gifts. It is a very special holiday for all in Spain and a great time to visit and observe the festivities. 

 

A very important meal on this day is Breakfast, with the Three Kings Cake taking centre stage.  This is a sweet bread covered with dried fruits and sugar. Traditionally bakers will have hidden a small prize wrapped in paper as well as a bean. The one who finds the prize is named King or Queen for the day while the guest who ends up with the unlucky bean has to pay for next years Three Kings Cake – and considering that some of these cakes can be very expensive depending on the treats inside, nobody wants to get the bean! Good Luck!

3 Kings

 

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Is the rejuvenated Spanish property market about to go in to overdrive?  As we enter the last month of 2015, there are plenty of sound bites suggesting that it may just do that.

 

Demand from British buyers was up by 53% in the 3rd quarter of this year against the first quarter of 2015. As the year has progressed Spanish homes are being snapped by the Brits and guess what… the prices are rising.

The year round Spanish sun & endless beaches attract visitors from all over the world

As Spanish property registrars have documented, property prices have increased overall by around 6.6% since March 2014.  Mortgage acceptances have also increased by some 17% against September 2014.  Property is in high demand, & it is written that there are currently in excess of a million properties for sale across Spain. 

 

Some pessimists may question the credibility of the data, and some will say so they should. However we can only report about our experience in the locations that we work in here at Your Place in Spain Ltd – The North and South of the Costa Blanca, Murcia & Costa Calida and the Costa Almeria too.

Beautiful property in high demand

In our experience on the ground we have had fantastic levels of interest from the platforms used to show our portfolio of properties.  We have had clients queuing for appointments, and even property selling within hours of being put on the market.  

 

We’ve also seen customers place offers for the asking price and be refused as the sellers, quickly realising the high demand of the market, believing that they can achieve more money than first thought! Can we really blame them?

Anyone for Tapas?

Anyone for Tapas?

As the exchange rate is currently sitting at circa 1.42 euro to the pound, for buyers, it is back to the Boom years of 2002 to 2006 when it comes to purchasing property.

 

The ‘double whammy’ on offer this time though is that current property prices are anywhere between 25% and 65% lower than they were in those boom years, & this is a major contributor to the buoyancy of the market in the hot spots.

A Mediterranean lifestyle. The Spanish culture, food & drink.

A Mediterranean lifestyle. The Spanish culture, food & drink.

To cap it all, the new developments currently being undertaken across the Costa Blanca (which we understand to be in excess of 50) are being built, and some of to the very highest standards, to help deal with the demand.

 

So whilst some data will be heavily debated, we perhaps should take on board, and remind ourselves of the reasons for this possible or probable resurgence in the Spanish property market.

Dreaming of owning a property in Spain? Now is a fantastic time to make it a reality...

Dreaming of owning a property in Spain? Now is a fantastic time to make it a reality…

If you’re thinking about buying property in Spain, now is a fantastic time to take advantage of the exchange rate and low property prices. Don’t hang around or leave it too late.

 

Take a look at our website here, and see our selection of property. Let us help you, get in touch today here.

 

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Ten Reasons Why the Southern Costa Blanca Is One of Europe’s Most Sought After Locations – 

 

If you’re thinking about purchasing a property in Spain, whether a re-sale or new build property, for investment, a holiday home or for full time living, then there are so many reasons why the Southern Costa Blanca should be top of the list.

Beach Couple

This is a sought after location, offering blue flag beautiful beaches, golf courses, & Alicante’s largest shopping centre, but the list of reasons to purchase here is set to grow as developers are returning & building some of the most luxurious properties and innovative opportunities in Spain.

 

Learn a little more about this fantastic location with our top ten reasons that make this location just too good to miss –

 

1.Property Prices – Now Is The Time To Buy:

 

As a preferred location in Spain, the property prices in the Southern Costa Blanca are on their way up. Don’t let that put you off though, with the exchange rate as it is right now (keep a close eye on this here) you can still grab a great property at a great price.

 

It is important to understand that the entry level for a good quality property in this desirable location is slightly higher now.  So rather than the €40-50,000 price levels of a few years ago, figures of around €85-105,000 (£62 – 77,000) are opening buyers up to a much larger number of really fantastic properties, perfect for a holiday home or full time living.

 

San Luis 1

2. New Build Opportunities:

 

The new-build opportunities in the Southern Costa Blanca really are endless right now.  With reasonable prices, and beautiful locations, property developers are very much ‘in tune’ with what their customers are looking for and are using new technology and materials.

 

If an investment property is what you’re after, then new build could certainly be the option for you. With fantastic locations, close to beaches, amenities and golf, new build properties offer great investment potential via rental income & capital growth.

 

A number of these new build developments also offer buyers the option of managing the renting of the property when they are not using it. Contact us to find out more about this option.

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3. Beaches:

A large section of the Southern Costa Blanca is also known as the ‘Orihuela Costa.’  The Orihuela Costa is a coastal region situated on the Costa Blanca, which covers several coastal resorts including Punta Prima, Playa Flamenca, La Zenia, Cabo Roig, Villamartin, Campoamor and Mil Palmeras.

 

This is an ideal destination for those looking for property close to the beach, as many of the major beaches along this stretch of the Costa Blanca are Blue Flag, but there are also plenty of smaller, quieter beaches to be discovered and enjoyed too.

 

Perfect for taking the family to the beach for a day by the sea, or maybe a traditional Spanish lunch at one of the many chirringuitos.

Tapas 1

 

4. Golf Courses:

 

For a long time Villamartin was known as the home of golf in the Southern Costa Blanca, but in recent years many more golf courses can be found in this fantastic location.

 

There are some stunning, high quality golf courses all within a short drive of one another. A true golfers paradise, and with all courses providing stunning views and scenery, this is a great place to soak up some sunshine and pass the time with your favourite hobby (if you’re a golfer that is!).

 

The courses include Las Ramblas, Campomoar La Finca, La Marquesa, Las Colinas, Lo Romero & the courses at Villamartin too. 

 

Golf property is also excellent for rental potential too; if you’re planning on renting out your property then these golf courses bring visitors to the area all year round.

golf final

 

5. Shopping:

 

If the golf courses make the Southern Costa Blanca a ‘golfer’s paradise’ then La Zenia Boulevard means it is a ‘shopaholic’s heaven’ too!

 

The largest shopping centre in the province of Alicante is located in La Zenia, and if you love shopping then you’ll absolutely love La Zenia Boulevard. 

 

There are over 100 fashion shops, restaurants & bars, a food market, a children’s play area, a casino, and a bowling alley. There are also activities that take place every weekend, drawing in the crowds from all over the Southern Costa Blanca.

 

There really is something for everyone, and it is open late in to the night too meaning you can quite literally shop until you drop!

 

 

6. Re-Sale Property:

 

There is some beautiful re-sale property on offer in this great location with everything from apartments & townhouses, to traditional fincas & villas, available at some fantastic prices.

 

If a new build property isn’t for you, then don’t worry as it’s safe to say that you shouldn’t have too much trouble finding another style of property in the Southern Costa Blanca

Take a look here. 
playa flamenca fasti

 

 

7. Investment:

 

The term ‘investment opportunity’ is often used when people talk about overseas property purchases. The new build opportunities on the Southern Costa Blanca have opened up the possibility of investment buyers having the ‘best of the both worlds’ when it comes to reaping the benefits of owning a property in Spain.

 

Investment buyers can purchase a property at the entry level price (the 1st Phase) and when the building is complete they can begin to utilise on the property management and receive a profit on the running costs of the property, and of course on the capital growth too!

 

At the same time the buyers can use the property (low season, so as not to effect rental figures) and appreciate the benefits of such a fantastic investment and of course the Spanish sunshine! Talk to us for our take on the opportunities.

Colorful euro banknotes

 

8. Easy Access:

 

With Alicante airport just 35-40 minutes drive away from the Southern Costa Blanca, it is very accessible.  It is open 365 days a year, with flights coming in from most UK airports & there are plenty of low-cost airlines flying to the location too.

 

There is also Murcia San Javier airport, around a 30-35 minute drive from the location.

plane

 

9. The Weather:

 

The Southern Costa Blanca’s climate has been recognised as one of the best in the world by the World Health Organisation.

 

There are almost as many sunny days in the winter months as there are in the summer, and the Costa Blanca is known for being dryer in the winter and less humid in the summer that the other Costa’s in Spain.

 

You can expect up to 325 days of sunshine per year…So pack you sunglasses and sun-screen…the sun is shining!!

blue skies

 

10. Amenities:

 

The Southern Costa Blanca is home to golf courses, property developments, shopping centres, hundreds of restaurants, bars and shops, and more, and really does have everything you need.

 

It is also a place that caters for all too. If you are looking for a busy, place with night life and tourist resorts then you can easily find that. But you can just as easily find the quaint and quieter areas and small villages too, that are a little more traditional.

 

There is such a large and fantastic choice of places to discover.

 

tapas board

 

 

Written by Joanne Lynsdale, for Your Place in Spain Ltd.

 

 

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Buying a property in Spain is an exciting and life changing event for so many of our customers, and for most it is a dream that they have been working towards for many years.

Whilst viewing property and soaking up the glorious Spanish sun, it can sometimes be easy to forget the more serious side to purchasing property overseas. Well, let’s be honest, who can blame anyone for getting a little carried away when they find the property of their dreams?

So whilst it may sound like we’re bringing our customers back down to earth with a bump, (we’re absolutely not, we promise!) we’re just as excited as them! There are some serious matters that need to be fully understood when purchasing a property in Spain, and it is our job to remind customers of those matters, ideally before they even arrive in Spain.

For example – Are you aware of your obligations of owning a property in Spain? Spanish Wills? What happens at the Notary? What are the related taxes & costs when purchasing in Spain?  Whilst there is nothing to dampen your spirits or take away from the dream of owning your own home in Spain, these are matters that you should be advised of well ahead of purchasing.

plane

We believe that the obligations of owning a property in Spain must be fully understood by our customers before the search for property even begins. So when you do find that perfect property, there are no bumps in the road.  Our ‘Top Ten’ this week is focused on the purchase process, so here are our suggestions & tips on those matters that we help our customers with along the way…

1. THE FIRST THING TO CONSIDER – LEGAL ADVICE

When customers speak to us & tell us that they are looking for property in Spain, the first thing we advise them to do is to speak with an independent solicitor.

WHY IS THIS?

If you’re going to be a homeowner in a different country, you really need to know what you’re obligations are going to be. An independent solicitor will also guide you through the process of purchasing the property, including obtaining NIE numbers, opening bank accounts, & making a Spanish Will.

WHY AN INDEPENDENT SOLICITOR?

The reason why we suggest using an INDEPENDENT solicitor, is so that the solicitor is not associated with any agent, including us, they are working solely for & taking care of you, the customer.

2. THE PROPERTY – WHAT ARE YOU LOOKING FOR?

It is so important for us to understand exactly what our customers want from their property in Spain.

For example – Will you be using the property as a holiday home? / Will you be looking for a property with great rental potential? / Are you planning to live in Spain full time, will this be your permanent home?

We like to understand all of the details that you want from your dream property in the sun so that we can do our very best to try and find it for you from our vast portfolio.

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3. LOCATION, LOCATION, LOCATION

We have many customers that know the exact location in Spain that they want to purchase a property in, but we also got a lot of customers that are still trying to decide where they want to purchase. Just like with understanding what you want from a property, it is very important to think about what you are looking for from a location too.

Do you want it to be a lively, thriving place all year round? Are you looking for a traditional, Spanish lifestyle in a small village? Do you want to be in an ex-pat community? Is it important for you to be near the sea? How about golf courses? Do you need to be close to schools, etc…

There is a lot to think about isn’t there…

blue skies

4. THE BUDGET

How much are you looking to spend on your property in Spain? To make it easier, we suggest clients stick to calculating it from a Sterling perspective.

We also suggest that you work out how much you want to spend on the whole project, so that is including the property, the taxes, purchase and legal fees (around 13-15% of the purchase price depending on the region).

(See Point 5 below for more details on this)

 

5. THE PURCHASE COSTS – 

It’s important to know the cost of purchasing in Spain, and by speaking with an independent solicitor you will be fully ‘in the know’ about all of these, meaning that you will be aware of how much these costs will be from the very beginning.

These costs include –

Legal Fees (Conveyance Fees) / Land Registry / Notary Fees / IVA or ITP (Spanish Purchase Tax)

Depending on whether you are purchasing a new build or re-sale property various other taxes & fees can apply.

To find out more, and for an estimation of these costs please contact us for an in-depth look at purchase costs.

Colorful euro banknotes

6. MORTGAGE INFORMATION – 

Spanish Mortgages are available to non residents, currently at 65/70% Loan to Value/Purchase price (whichever is the lower,) & subject to status.

Generally speaking the set up costs need to be factored in are anywhere between 2-5%, depending upon the amount borrowed.  Also the purchase costs will need to paid as well as the deposit on the property as the banks will not roll these costs into the borrowings required.

Banks do offer 100% mortgages to Spanish residents, and to non residents on some developments, this is not normal practice though.

7. CURRENCY – CHANGING YOUR MONEY – 

When it is time to complete on the purchase of your dream home in Spain, it will be in euro’s.

Ideally as a ‘Your Place in Spain Ltd’ client you will have spoken to a currency broker so that you are aware of how market fluctuations can affect the cost of your property.

It is important to understand that as the rate changes, the cost of your property purchase can too, & this can in some cases, be a considerable amount of cash.

We do recommend using a currency broker rather than a high street bank as massive savings are available, click this link to understand more about this.

8. GOING TO THE LOCATION & VIEWING PROPERTY –

Once you are ready to actually view property, it is time to fly to Spain, to your chosen location & view an organised portfolio.  

We think it is more comfortable & relaxed for our customers to fly out to Spain under their own steam, and to get to their hotel/rental property first before starting the viewings.

Once you are settled in, the viewings can commence…

Beach Couple

9. PURCHASING A PROPERTY – 

You’ve viewed the portfolio, (and in many cases one or two others that have been added to the mix whilst you’re there) and you have found ‘the one.’ You have made an offer on the property & it has been accepted.

At this point your independent solicitor should check the Reservation Contract to ensure that all is correct. In the event of anything not being as it should be, this also ensures that any moneys paid will be refundable

The legal team should then guide you through the rest of the process, including – 

Obtaining your NIE numbers / Opening bank accounts / Preparing & translating documents for you to sign / Arranging payments / Organising all final arrangements of the purchase

legal team

10. YOU’VE PURCHASED A PROPERTY IN SPAIN – NOW WHAT?

Once you own your property in Spain, the legal team should once again be on hand to direct the following –

Making sure all utilities are transferred into your name / Ensure all arrangements have been made for you to pay necessary property taxes / Inheritance & Wills

keys

These ‘tips’ above are to be taken as a guide of what to expect and what to be prepared for when you start your search for a property in Spain.

A large part of our service here at Your Place in Spain Ltd is talking to our customers to make sure they understand the whole process of purchasing. We’re here to talk you through every step, and in a way, hold your hand through the journey. 

We’re here to help, and if you’d like us to give you a call and talk you through the process of purchasing in Spain, or if you would rather pop into our showroom to discuss your plans for buying in Spain, then you can find our contact details here.

You know what they say… “Knowledge is power!”

Be in the know, buy safely. Talk to us today.

Joanne Lynsdale, Your Place in Spain Ltd

Joanne Lynsdale, Your Place in Spain Ltd

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