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How to Play the Current Spanish Property Market – Renovate to Accumulate

admin — Tue, 13 Jan 2009 22:54:01 +0000

The Spanish property market isn’t particularly conducive to moving right now, but it is to improving. With plenty of tradesmen twiddling their thumbs you can drive a hard bargain, take advantage of the downturn, do some serious renovations and reap the rewards when the market picks up. And what better project to tackle than a 300-year old bakery in the Andalucian village of Medina Sidonia? Beats a loft conversion in Merthyr Tydfil…

Just 100 metres from the delightful main square of Medina Sidonia sits the former bakery now known as ‘Casa Ganado’. With many quirky original features in place, including the ancient bread oven, this property requires Renovation with a capital ‘R’ but the Rewards will undoubtedly deserve the same capitalisation. Covering a generous 400m² of living space over two storeys and with a Moorish-feel interior courtyard plus bright rear patio and scope for roof terrace, this project has ‘boutique hotel’ written all over it for an adventurous investor.

With a population of just 10,000 the elevated town of Medina Sidonia, considered to be one of the oldest in Europe, sits at the heart of Cádiz province and entices visitors from all around with its shabby grandeur. It offers medieval walls, labyrinthine cobbled streets, fragrant blossom-filled plazas with pavement eateries and some incredible views across the patchwork countryside down to the sea. Furthermore the fine-sand near-deserted beaches of the Costa de la Luz, several elite golf courses and Jerez, the birthplace of sherry, are all within 40 minutes’ drive. It is little coincidence that the local bed and breakfast market is expanding nicely and Casa Ganado could get in on the spoils.

However there is no glory without graft. Although structurally sound, it’s been standing for 300 years and has no plans to budge, Casa Ganado is essentially a blank canvas for a stunning renovation. Digital architect plans have been drawn up (at a cost of over 10,000 euros) for four en-suite bedrooms, kitchen and living areas, a suntrap roof terrace, swimming pool on the patio, plus a self-contained apartment with separate access. This set-up would lend itself perfectly to a Riad-style guest house with the owners on-hand upstairs or simply a spacious imposing family home. A pedestrianised street ensures both safety and tranquility.

So whilst the world continues its financial wobble, put the next few months to good use restoring a slice of Andalucian history to its former glory. And, by the time you’re done, the cogs will have started turning on the Spanish property market again and you’ll have a much-appreciated asset on your hands – and who knows, you may even be the proprietor of a new boutique hotel bathed in the endless Spanish sunshine…

Casa Ganado is priced at 375,000 euros to include digital architect plans. For further information telephone 00 44 1273 698332 or email casaganado@live.com

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El Rompido – Fishing Village Development

admin — Fri, 14 Nov 2008 12:00:03 +0000

El Rompido – Fishing Village Gains International Acclaim in Spanish Tourist Board Ad Campaign

The Spanish Tourist board is currently using the idyllic picture-postcard beach of El Rompido in Huelva in an international print advertising campaign. What better endorsement could local estate agents wish for?

Andrew Benitz, Director of Titan Properties whose head office is in El Rompido, comments, “Relative anonymity has been both our strength and ironically our downfall over recent years. Whilst Spain’s big hitters – Marbella, Madrid, Barcelona and the like – have garnered the lion’s share of media attention over history, Huelva has gone largely unnoticed. This of course makes our coastline unspoilt, underdeveloped, natural and uncontrived but also means that second home hunters are potentially missing out on one of Spain’s hidden treasures. Hopefully the inclusion of El Rompido’s glorious beach in a global ad campaign will bring some much-deserved attention and education on the area.”

At the western tip of Spain’s Costa de la Luz, El Rompido is essentially a fishing village on the estuary of the Rio Piedras which is protected from the Atlantic by a long spit of land called ‘La Flecha’ – The Arrow. Its presence creates both a safe anchorage for the fishing boats and also a perfect playground for water sports. The fishing boats are as active today as they ever were, sensitively trawling the waters for sumptuous seafood that ends up on the plates of the local restaurants, but the 10km of white sandy beach backed by lofty dunes and pine forests has attracted another crowd – the discerning property investor.

Gradually growing into a vibrant, energetic destination, El Rompido has much to offer for the holidaymaker. The village now has two Alvaro Arana designed 18-hole golf courses, the south inaugurated in 2003 and the north in 2006, and a brace of five star hotels – one managed by the Set Hotel group and the other by El Fuerte. It even has a marina fringed with lavish million euro plus villas complete with private berths and fashionable bars and trendy boutiques, a marina that is one of four planned for the area.

Titan Properties is promoting the newly launched Altos del Rompido. Occupying an elevated position, the 150 apartments and penthouses command impressive south facing views of the Rio Piedras estuary and Atlantic beyond. Built to high standards, the gated community offers a range of on-site facilities from an amazing feature ‘lake pool’ alongside adult’s ‘length pool’ and children’s pool to three paddle tennis courts and a handy bar-cafeteria. The homes themselves are arranged in separate buildings, 15 apartments each, and all have two bedrooms and bathrooms, large terraces of up to 58m² for the penthouses, central heating, direct external and lift access to avoid communal hallways and a parking space a-piece. Fitted kitchens and installed air-conditioning are available as extras.

The village of El Rompido with its pretty square, shops, restaurants, cycle tracks, forest walks and those endless sandy beaches is within walking distance whilst Seville and Faro International Airports are both within an hour’s drive enabling swift direct access to much of northern Europe.

Prices at Altos del Rompido start from 224,000 euros for apartments and 294,000 euros for penthouses and with completion not expected until June 2011 the off-plan stage payment terms and potential for capital appreciation are very attractive.

Contact Titan Properties on 00 34 959 399 982, UK Freephone 0800 358 7969. Email info@titan-properties.com or visit www.titan-properties.com

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Sailing Holidays in Menorca

admin — Sat, 06 Sep 2008 18:33:15 +0000

Heading into the late summer months, many a traveler will look to head south and hit the shores. Popular destinations include various spots all around the Mediterreanean Sea, and the famous Balearic Islands of Spain.

Heading into the summer months, many a traveler will look to head south and hit the shores. Popular destinations include various spots all around the Mediterreanean Sea and the famous Balearic Islands of Spain.

The main islands of the Balearics are Menorca, Mallorca and Ibiza. One common way to get the best of all these islands is via the sailing route. But once that is determined, it is up to your group to decide which route to take.

Some decide to work on their sun tans and simply take it easy. Tanning by day and sailing ashore for some of the finest food and drink by night. On the other hand, some decide to go all out when sailing in Menorca – going climbing the cliffs around the island, snorkeling, deep sea diving and various other recreational pursuits.

Companies such as Go! Nautic provide private yacht charter with snorkelling packages and equipment available, and can also arrange that a fully qualified private diving instructor (PADI) is there for deep sea diving.

While single day yacht charters are available, for one to get a full view of the Balearics, a weekly or custom yacht charter is recommended. Try to find Menorca sailing holidays that allow you to plan your day according to your wishes and thus do not push pre-planned itineraries. This means you can tailor each trip to your very own needs. The only possible diversion is based on potential weather conditions. However, your group will be kept informed on weather conditions and any changes that may be necessary.

Not to worry though, as Climate is usually a sure shot, as sunshine is abundant. Temperatures range from 15 Celsius in the winter, to about 20-25 in the spring and autumn, while touching the 30’s in the summer. With light winds generally, the conditions are usually just right for sailing. Sea temperature itself gets quite warm too, hitting 30 degrees Celsius in late summer.

Find more out about holidays in Menorca and the various services available from Go Nautic by visiting their website at www.gonautic.com.

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Is the Spanish Property Market Still Strong?

admin — Sat, 30 Aug 2008 17:51:27 +0000

The BuyAssociation have just published their thoughts on the state of the Spanish Property Market. Here is their latest take on the current situation and prospects.

At times it feels as though the overseas property market in Spain has been doomed for years. On top of this, a recent downturn in the share price of large Spanish property companies provoked another round of media panic, along with the usual ‘I told you so’ reactions of industry analysts.

While there seems to be a new emerging market appearing on the scene every week to attract the cash of investors, Spain is often used as an example of how not to run an overseas property investment market. Recent revelations revealed the full extent of the corruption at all levels of local government, where planning chief Juan Antonio Roca amassed a fortune of €120 million through backhanders and bribes, allegedly involving the last three mayors of the region.

Meanwhile, developers are keen to sell Spain as a destination that still offers fantastic returns and bargain property to fulfil the dream of a place in the sun.

As usual with these things, the reality is somewhere in between the two sides of the story. There is no doubt the rampant price rises that were seen with the mass speculation of the first years of the 21st Century are over (there were stories at the time of prices on some developments increasing their prices by 10 per cent each week). At the same time, the property market in Spain is by no means dead and buried.

Mark Stucklin is head of Spanish Property Insight, a property information website, has seen the changes in the market. “The Spanish property market is not what economists would call an efficient market, largely because it lacks transparency.” He Says, “This makes it difficult for buyers and sellers to know what is going on, creating great opportunities for those people who are really prepared to investigate the market. This is especially so now that the property boom has come to an end, and some buyers are desperate to get out. The key is access to independent information, and seeing lots of market comparables to get a real feel for market prices, which you will never get on a subsidised and rushed inspection trip.”

Andy Hawkins, Senior International Property Consultant at Chesterton International comments: “There has been a huge amount written recently regarding the Spanish property market. Most of it has not been particularly positive. However, if the situation is examined closely it is clear to see that some of the media hype does not paint the most accurate of pictures.”

In fact, the original package holiday destination is still the most popular place for Brits to buy property overseas, and while you might not be able to pick up a plot of land overlooking the sea on the Costa del Sol for the same price as a small car, there are ways to take advantage this perceived downturn in the Spanish property market.

Whenever there is widespread speculation in a property market, there are inevitably people who have been a little overzealous in their budgeting, or who have been caught investing at the same time as many of the speculators are on their way to new hunting grounds. The result is a large number of properties coming onto the market, for which the owners cannot raise the finance, or who just want to release their equity as they are unable to ‘flip’ the properties for the large profits they anticipated.

Adam Gale, Managing Director of Duchy Estates, concedes that there is a correction in the market “The Costa del Sol does have a certain oversupply of property, particularly in new build apartments up and down the coastline. It’s going to take a couple of years for this stock to amortize, and many will be snapped up for fantastic prices by investors who are confident, like us, that after a few years of correction, the bullishness will return. It is indeed a buyer’s market. Both developers and private vendors who are keen to sell property in Costa Del Sol will be more realistic about pricing, maybe even accept an offer, which was unheard of as little as three years ago.”

This view appears to be backed up across the industry, as agents see different results at either end of the property spectrum. Paul Rossiter, Managing Director of Costa del Sol based specialist land and self-build agency, Carrington Estates, comments, “I think the bottom end of the market, the ’stack them high, sell them cheap’ identikit market has had a big wobble, but conversely, the top end villa market has remained steadfast. Even when Spanish property stocks took a pounding in April, with shares in freefall overnight, there was still no knock-on effect to this sector of the market.”

While this doesn’t make Spain the same speculators market that it was some years ago, there are opportunities to invest in a place that will become much more stable in the coming years. Spain should follow the trends set by France, in that many of the buyers there in the future will be people who are looking to use the property themselves for large portions of the year. This leads to a more mature, stable market, with sustainable growth. That is not to say that the market for investors becomes boring – parts of south-western France have recorded annual price rises of above 15 per cent in recent years.

Further proof of the maturing of the property market in Spain is the amount being spent on maintaining and improving the infrastructure of the most popular areas. As Adam Gale points out, “In response to the relentless popularity of the region, 2007 is the year for infrastructure improvement by the bucket-load. One glance at the tangles of steel girders and armies of hard-hatted men, and it’s perfectly obvious that Málaga Airport is undergoing major modernisation.”

If you are interested in the Spanish Costas property market, keep an eye on the marketplace for auction websites, or so-called ‘distressed’ sales. The properties found here don’t necessarily have anything wrong with them; the owners just want to release their capital and are prepared to accept under the market value to do so. As ever, make sure you carry out full legal checks and surveys ahead of buying, but this can be a great way to bag yourself a Spanish bargain. And you shouldn’t worry about the prospect of profiting from the misfortune of others – in many cases, these sellers are just happy to be able to release the equity they have tied up in the property.

Mark Stucklin’s final piece of advice for those heading to Spain to look for property: “If you do your research, and take your time, you can find great value property in Spain today. But remember that good value is not the same as cheapness, and be prepared to pay a fair price for good quality.”

Get more information about the Spain property market at http://www.buyassociation.co.uk/property/text/spain/buyassociation/buying-a-property-in-spain.html

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Holidaying in Spain

admin — Sun, 20 Jul 2008 22:01:54 +0000

Spain: the land of sunshine, beautiful beaches and friendly locals. It’s little wonder so many Brits keep returning to Spain’s sandy shores – after all, it’s close by, many of the people living in tourist areas speak English, and it’s an opportunity to soak up some rays before the dull British weather turns us all completely transparent!

If you’re planning a holiday to Spain or are trying to decide if it will end up being your vacation destination, there are a few things you should know before you finalize your plans. One of the most important factors to take into consideration when visiting Spain is that it is a country with many distinct regions and districts, some with their own languages or dialects, yet more with their own special cuisine and customary behaviour. Take for example the main cities of Madrid, Barcelona and Seville: all are incredibly popular amongst tourists, but each have their own individual persona. Madrid is the capital of Spain and is heavily populated. It is also home to beautiful architecture and an incredibly rowdy bar and club scene that younger travellers in particular enjoy. Because of the popularity of Madrid as a base for travelling further into Spain itself, it is not difficult to find a cheap package holiday that suit your needs. In fact many of the packages for cheap holidays in Spain use Madrid as their focus, simply because of the large number of tourist facilities in the area.

Barcelona and Seville have this capacity for tourists in common with Madrid, but are quite unique in the sights and sounds they have to offer holidaymakers. Barcelona, for instance, is split into several historical quarters or districts and has a strong art and music scene which is popular with both young and old. Smaller than Madrid and less like ‘The Big Smoke’, it is favoured for being a cultured and friendly city that is easy to get around and an even easier place to use as a long-term base for a vacation or even a permanent move. Like Barcelona, Seville is considered to be more laid back than Madrid, and it’s most famous characteristic is that it is renowned for being the birthplace of the Flamenco (a famous Spanish dance). Bull fighting arenas are also famous in Seville, and this is one of the foremost reasons for tourists visiting the area. All three of the big cities have fantastic airport connections to the rest of Europe and indeed the rest of the world, so it shouldn’t be too hard to find cheap flights.

If you’re fed up with visiting city after city, you may instead decide to visit one of Spain’s many beautiful islands. Luckily there are several you can choose from, including the Balearic Islands chain (Mallorca and Ibiza, amongst others) and the Canaries (including Tenerife). Cheap flights to Tenerife, Mallorca and Ibiza shouldn’t be hard to come by, particularly as many of the budget airlines fly to these destinations.

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