The Helicópteros Sanitarios Puerto Banús HQ

Well, in many respects you could say it always has been of course… but now more so than ever before because I’m delighted to be able to tell you that all new clients purchasing a home through VIVA now receive one year’s free membership to Helicópteros Sanitarios – the Costa del Sol’s leading rapid response Home Doctor & Medical Emergency Service.

The Helicópteros Sanitarios medical teams have responded to almost 852,000 calls for assistance and have saved more than 14,460 lives in the last 23 years which is a truly remarkable achievement…

Continue Reading

OK, so for ‘cats’ read British expats and if you really want to split hairs, well 75.9% is admittedly a whisker or two less than the actual figure. But before you think I’ve lost the plot, I’ll explain…

A recent survey for Telegraph Expat shows that when 1,000 British citizens were asked to rate their overseas homes in the top 10 most popular expat destinations, on factors ranging from quality of life to the cost of living, no fewer than 75.9 per cent – the highest score – said they were happier in Spain than in Britain…

Continue Reading

Widely reported and commented on across the Spanish and other media such as internet forums this past week, has been the confirmation by the Málaga Association of Builders & Developers (ACP) that more than 10,000 new-build units have been sold during 2011, out of what was reported to be an unsold stock in the Málaga province of some 20,000 units.

What we all have felt in the market is that of course tides turn, and when it comes to the law of supply and demand, well if you don’t build any new projects then eventually – as in the early to mid 90s – there comes again a shortage and a real demand, and off we go to a new cycle.

You might say that this is still a way off. But not really. Lead times in construction tend to be 3-5 years from initiation of a project to completion. Think about that… no new product coming to the market for 5 years. At VIVA, we have already seen double digit growth in 2011 and we’re seeing a fabulous start to the year in property sales every day.

What does happen in prime areas such as Marbella and the Costa del Sol in just five years’ time, when all our stock will have been long ago sold and everyone then competes for properties coming to the market?

And how well might today’s buyer feel at that time.

Well, this was the official news recently released by Tinsa which provides an index as to property prices and other real estate information across Spain. But really, we ourselves could have told you exactly the same thing more than a year ago.

The problem with the ‘official’ version of facts is the time lag that it takes to get them out into the market, as in fact, we would say that completed sale prices today – against asking prices at peak – are more likely near 40% down from that peak, and we often see certain types of properties selling for 50% below peak today.

What is important, however, is the true picture of when the bottom of the market has been reached. That point, or moment in time, when our buyers all have a certainty that prices will not fall any further. Well, we won’t guarantee that this is a fact across all markets, and we can only talk about certain prime areas of the Costa del Sol, but we certainly believe that in the case of all the properties we are completing sales on at present, these prices will not go lower; we know that we are at the bottom of the market.

Though you probably won’t read that ‘officially’ for a while yet, when you do read it, in our view prices will have already started to begin their eventual rise.

If you are buying, there has never before been a moment or a market like it. But it is incredibly important that you buy the right property, for the right reasons and at that all-important right price.

An article in the Daily Mail reports on how Spain comes out 45th in a league table of 51 countries in relation to their house price falls. Now is this a bad thing?

Not at all! In fact, if you read the article to the end, they state the obvious, that the turmoil in property prices faced particularly by the likes of Ireland (51st) and Spain, is actually a confirmation that these housing markets are over the worst.

We have never been ones to bury our head in the sand at VIVA. If it’s bad we face up to it, and we don’t talk the market up either, because it’s not our role. We simply help buyers acquire the right home at the right price, whatever the prevailing market conditions. But I have to say, it’s ohhh… so nice to be able to point to a whole variety of indicators that demonstrate we are at the bottom of our own crisis, that we are facing recovery and, well, an end to a pretty tough past six years really.

So, don’t shoot us for being happy about that.

Although Spain was the most popular property destination for almost all of last year, according to TheMoveChannel.com, there was a bit of a wobble for a while. Then in December there was an about turn as British buyers fell out of love with US real estate, and with enquiries for property on the other side of the pond plunging by 7.32% last month, it was relegated from 1st to 4th place.

Still, with enquiries about Spanish property falling by a barely noticeable 0.18%, Spain immediately shot back to the top of the list. Elsewhere in Europe, Portugal climbed from 4th to 2nd place with 9.15% of total enquiries, while France remained in 3rd place with enquiries up by 1.05%.

“As 2011 ends, the fluctuations in the Top 10 show the changing buyer demands in an uncertain market,” says Don Johnson, TheMoveChannel’s MD. “Spain has always been a traditional choice for lifestyle buyers, as shown by the constant level of interest in the country… so its return to the top spot seems an appropriate end to the year.”

Further afield, Barbados and Morocco entered the Top 10 for the first time, while the UAE jumped eight places to finish 12th.     

According to a report released by the local Tourist Board to coincide with the 32^nd edition of the FITUR International Tourism Fair taking place in Madrid this week, despite the recession a total of 9.1 million holidaymakers visited the Costa del Sol in 2011, up by 3.5% compared with 2010. The average vacation length, however, was down from 13 days to nine, while the average spend also dropped – although only very slightly – from €800 to €760.

Tourism is Málaga’s principal industry, last year representing more than 13% of the province’s GDP which amounted to €8,000 million.

It was back in August that Spain’s Socialist (PSOE) Government took the unheard of step of slashing the purchase tax on new-build properties by 50%, thus reducing the 8% rate of IVA (VAT) to just 4%. An unprecedented move, the very welcome reduction was, however, originally planned to remain in force only until 31 December 2011, creating a pretty short-lived window of opportunity for buyers.

So, if you thought you’d missed the boat, then you’ll be delighted to hear that Spain’s new Conservative (PP) Government – who swept to power in a landslide victory at the General Election on 20 November 2011 – have extended the IVA reduction on all sales of Spanish new-build homes until the end of 2012.

This means for example that if you’re purchasing a property with a price tag of €200,000, instead of paying the €16,000 IVA previously in force, the tax bill will now only equate to half that amount – €8,000. On a sliding scale, a property costing €400,000 will therefore only mean a tax bill of €16,000 instead of €32,000… and so on.

Just think what you could do with all the money you save!

The 2012 Travel Trends Report from Skyscanner, one of Europe’s leading travel search sites, confirms that Spain is still the top destination for British holidaymakers – as well as for French, German, Swedish and Spanish travellers – not only heading the list of country searches, but also leading the way with four of the top five city and resort searches with Málaga and the Costa del Sol coming first for the second consecutive year, ahead of Alicante, Tenerife and Palma de Mallorca.

Well worth a read, the report additionally highlights the fact that in 2011 Spain also topped the Post Office Holiday Costs Barometer, showing overall how much money 10 key items in 14 different holiday resorts would set you back. With prices pegged at 2010 levels, Spain came out on top as Europe’s best-value destination.

As a spokesman for the Spanish Tourist Board in London explains, “Despite economic challenges and a shrinking outbound market, UK visitors to Spain are up 8.8% on the comparable period in 2010. Since the first flight-inclusive package holiday to the Costa del Sol in the early 60s, there has been a long history of British families taking their holidays in Spain…

Continue Reading

According to a recent report from the Bank of Spain, the latest figures currently available show that overseas investment in Spanish real estate soared by 27.8% up to September 2011 – compared with the same period in 2010 – with the transactions made during that time amounting to €3,601 million.

A separate report, by Spain’s daily newspaper El Mundo, also states that for the first time since 2008, overall investments during the three consecutive quarters were in excess of €1,000 million, while in the third quarter of 2011 foreign investment in Spanish property totalled €1,164 million – up a substantial 19.2% on figures for the same period in 2010.