Stable Spain beats emerging world

Spain remains the top investment destination for Britons buying property abroad, according to a new study.

While up-and-coming destinations in eastern Europe and, even further afield, Brazil and South Africa have enjoyed increasing interest from potential investors, traditional favourites remain the best attraction.

Research by currency specialist HiFX found savvy buyers in Spain should head inland – away from coastal developments – to get the best returns.

Mark Bodega at the firm advised investors to take a “more realistic” approach to the prospects offered by the Spanish property market.

He said they should look for existing value in properties rather than attempt to create it artificially.

“Cut through the current hype and think carefully about the property you are buying in order to make the most of the current market conditions,” he said. “Only certain areas are suffering a slump due to over supply, while others still have much to offer.”

Hetal Shah, director of Investors Provident, agrees that the Spanish property investment market continues to appeal to buyers.

Despite recent reports about a crash in the property sector of Spain, Mr Shah believes there is enough momentum in the market to keep it going.

“I think with the established markets, it’s never going to really die down – even with the recent scare in the Spanish property market.”

ThinkSPAIN/Today

Alicante improves for holiday drivers

Holidaymakers in Alicante will have an easier time getting around the sunny destination in their rental cars later this year.

The Northern ring road around Alicante is said to be 99.9 per cent ready by the company building it. According to the typicallyspanish.com website, the 30-kilometre-long road skirts around the north of the city and connects to the El Campbello bypass.

Once the finishing touches are completed, travel between the holiday hotspot and other nearby beaches, golf courses and other attractions will be easier.

It will also allow holidaymakers to look further afield to find accommodation that suits them.

Alicante, a favourite spot for tourism has infrastructure specially designed with holidaymakers in mind. Regular flights to Alicante airport leave from all around the UK and the large variety of accommodation options within quick reach of the UK make it very popular with holidaymakers seeking sun and relaxation as well as the opportunity for activities such as golf and sailing.

Airflights.co.uk

Alicante tops foreign homeowners list

A quarter of houses for sale in the Alicante province are bought by expatriates, a recent report claims. Almost 19,000 homes were purchased in the province in 2006 by foreign residents, which represents 18 per cent of the national total.

Research by the faculty of estate agency at the university of Alicante, using Ministry of Housing statistics, shows that 25 per cent of last year’s 72,900 property sales involved expatriate buyers who live permanently in the province.

Paloma Taltavull, faculty head, says slightly more foreigners in Alicante bought second-hand property (10,630) than new builds (8,186). Taltavull explains this is because older properties are cheaper, but also much larger.

In the case of immigrants from developing countries, it is not unusual to see sizeable families or large groups of compatriots sharing a property. Many live and work in Spain in order to send money home to their families in their countries of origin, meaning sharing the cost of buying a property leaves them with a greater disposable income.

Northern Europeans also prefer bigger homes to accommodate friends and family members visiting them in Spain, says Taltavull.

The number of homes bought by expatriates in the province of Alicante now exceeds that of non-resident foreigners seeking a second residence. The latter fell gradually throughout the course of 2006, reaching an all-time low of 4,200, which translates to a drop from 30 per cent to 19 per cent.

The importance of the expat buyer is not underestimated in the property market. The property promoters’ association of the Alicante province reveals that 50.72 per cent of foreigners living in the Comunitat Valenciana own their home, albeit with a mortgage. In Spain as a whole, the average for foreigners owning their own home is 37 per cent.

By: Samantha Kett, thinkSPAINtoday

Regional airports well placed for Alicante property

The smaller regional airports of Spain are "well placed" for getting to property hotspots, according to the founder of a villa rentals and property sales specialist.

Maxine Harrison, who is also the owner of Elysian Holidays, said the fact that there is a number of smaller, localised airports close to these areas mean they are "well served" for transport links."The smaller airports throughout Spain are very, very well placed for getting to these areas. [Near] Costa Brava of course you've got Gerona and Barcelona.

Further down you've got Valencia, Alicante," Ms Harrison said.She added that this means even the less-developed areas of the Iberian country are accessible to Britons looking to purchase property overseas.Ms Harrison also said that Spain "has so much coastline" that there is still plenty of places for property developers to choose from.

A recent report from GE Money found that 36 per cent of those who choose to invest in property in Spain do so because of the climate.

Overseas News