Portugal Voted the Top Place to Live in Europe!

In a recent survey by the NatWest Quality of Life Index, Portugal was voted the Best Place to Live in Europe and the 3rd Best Place in the World. It was beaten by Canada and New Zealand and closely followed by Italy, France and then Spain. The survey revealed that increasing numbers of UK workers are now spending time working abroad and that the number of people retiring abroad is also rising.

Escaping pressured jobs and stressful life styles and a desire for a better way of life has led to more British Citizens moving abroad than ever before. Thirty seven percent of expats surveyed put quality of life as the number one factor influencing their decision.

The survey was taken by British expats living permanently abroad and looked at key criteria including: healthcare, public transport, weather, housing, food, entertainment, education, security, natural environment, leisure and culture, public services, law enforcement, availability of consumer goods, sanitation, retirement facilities and banking services.

It was revealed, and probably of no surprise, that British expatriates are healthier, wealthier and happier wherever they move to, but why did Portugal come out on top?

Portugal has a total population of just under 11 million; less than the population of London! This contributes to a slower and more relaxed pace of life with fewer queues, less traffic jams and congestion and altogether a whole lot more space to move around in.

Let’s also not forgot that Britain and Portugal have long had good relations, dating back to 1373 when the two countries signed the Anglo-Portuguese Alliance, which is the oldest alliance still in force in the world.

The Algarve is the most popular destination in Portugal for expats. With its 200 km coastline home to over 50 sandy beaches, of which a third fly the prestigious blue flag for cleanliness of water, its little wonder this province of Portugal is so popular.

The weather is without doubt one of the most important factors. With over 300 days of sunshine per year and temperatures ranging from the high 30’s degrees C in summer and rarely dropping below 10C in winter.

Portugal’s quality housing also makes it a great place to invest in property whether for life style or holiday rentals. Newly constructed properties are spacious and generally built to a high standard. This, together with the implementation of strict building regulations, which controls growth and manages development, will ensure that Portugal retains it charm and desirability for generations to come.

For more information on Compass Amazing Resorts in Portugal please click.

Spanish East Coast Property Prices at 2005 levels

According to news out today, the price of property in the autonomous community of Valencia, which takes in a lot of the East Coast of Spain, including the capital, Valencia itself, is now at the same level as in 2005.

The price per square meter has been reported as 1,459 Euros whereas in 2005 it was at 1,428 Euros, practically the same.

Of course this does not affect all coastal Spanish property. A large part of these statistics are taken from urban property prices in the bigger cities which can seriously bias them. When we take into account the increasing unemployment in Spain and the recession itself, it stands to reason that the price of property in the cities will, at the very least, stagnate.

As we commented in our Blog yesterday, this does not necessarily spell doom and gloom for the overseas buyer. Property in the coastal reasons of Spain is not only linked to the Spanish economy. Most of Northern Europe wants to purchase something in the Spanish Costas so prices in some areas have held steady or even risen.

This is the case with property in places like Nueva Andalucia in the Costa del Sol, Punta Prima in Costa Blanca and parts of north Costa Blanca like Denia and Altea. Villas in Altea and apartments in Denia have remained quite strong.

We have also seen strong resistance to price drops in the market in Barcelona, perhaps for the way its real estate is hemmed in to a certain extent by the mountains to its back and the sea to the front. Whatever the reason, buying real estate in Barcelona is sure to be a good option today and will prove to be a significant asset in the future.

Whatever you do, enjoy the journey!

Good News for Portugal!

Portugal made the headlines recently in the UK press, reported as the best family value destination in Europe!    British researches found the Algarve region of Portugal to be the most economic to visit with Lisbon coming out as the second best city for short breaks. The stunning Algarve beaches were voted amongst the highest in the world.

According to the survey, in comparison to 2009, the average price of a meal has fallen by 47%, costing £15.89 for a 3 course meal with wine in a local Portuguese restaurant. Not only did Portugal come out top with restaurant prices, but also at the beach where it was reported that the average charge for one hours rental of a pedalo was almost half of the cost in France or Majorca.

Portugal is now being described as “this season’s bargain hotspot” by the Mirror, while The Sun has proclaimed that “Portugal pounds the competition to give you the best value for money this summer”.

It's no wonder Portugal remains one of the top destinations for Brits buying abroad! For more information on Compass Amazing Resorts in Portugal please click.

Spain's Financial Sector: Some Facts and Figures

Much has been spoken about Spain being in trouble. The UK press loves bad news and so announces stories with the same morbid glee that it would, I am sure, announce the end of the end the world. When one of the small regional banks in Spain was bailed out two weeks ago by The Bank of Spain, the British press ran the typical "Yet another Spanish bank..." story. Yet the bank in question accounts for less than 0.6% of the Spanish banking system. Spain is all about regions and small local banks as well as high street banks. This appears to be a concept that leaves us Brits confused. We try and measure everthing by our own yardstick.   Yet the UK press neglects to ask how it is that Banco Santander purchased Abbey National, Bradford and Bingley and has made huge inroads in our own financial sector.   So what if we were to compare the Spanish banks with their European counterparts. According to a report published today by Expansion, capital and reserves held by Spanish banks, including provisions made, amount to 7.9% of its debt which is 1.7% above the European average of 6.2%. Resources held by the Spanish banks far outweighs what the other European banks can count on. The report goes on to compare Spain to other countries, including France and Germany, and illustrates what some people already knew - yes the Spanish banks are more exposed than others when it comes to real estate investments, but in nearly ALL other areas they are actually stronger than most other banks. In terms of profit margins they are also streets ahead of their peers.   For the full report please see here http://www.expansion.com/2010/06/04/empresas/banca/1275684814.html

 
We have also seen that the Barcelona banks have held strong, Banco Sabadell and La Caixa are conslidating their position and we should see their position grow as they snap up the weaker banks. Real estate in Barcelona has also proved to be a good refuge investment.

Have an Amazing Weekend.

Posted via email from amazingresorts's posterous

Pound to Euro at its Highest Point in 2010!

The currency news for yesterday, June 2nd, was encouraging for overseas property buyers. The pound sterling was at 1.1957 against the Euro, a huge jump from the 1.10/1.11 levels of the past semester.

 

What does this mean in real times for a customer looking at property in Spain or Portugal? Let's say you were looking to buy this two bed two bath apartment in the complex of Benatalaya on the road to Benahavis.  

 

 

The price of this property is currently 225,000 Euros, reduced for a quick sale in a complex where the next most economic unit is at 287,000 Euros. If you had purchased this property two weeks ago, the price in Sterling would have been 199,115 pounds. If you buy it this week it will cost 188,174 Pounds. So this amounts to a saving of 11,000 sterling for the same property.

 

Of course it begs the question, if I wait another six months then at this rate will it drop to about half its value? We never know, however it might drop more or indeed it could also go back up. However, we must always take into account the "Dutch Auction" nature of this market. There are people out there who have a set budget and when the price drops, for whatever reason, they act. A great property like this will not be there for ever. So if you were holding out for a Spanish luxury apartment for under 200,000 sterling, you can now get this fabulous two bed two bath in Benatalaya for 188,000. If you add the closing costs of around 9% then you pay 204,000 sterling and move in! This unit comes with TWO garage places, under floor heating in the two bathrooms and a fully fitted SIEMATICA kitchen.

 

If you wish further information on this or other properties overseas please email us on info@amazingpropertyinspain.com or contact us via the website http://www.amazingpropertyinspain.com/

If you want to buy property in Barcelona then visit our recommended real estate state. 

 

Whatever you do,

 

Enjoy the journey!

 

 

See and download the full gallery on posterous

Posted via email from amazingresorts's posterous

Spain's problems spell opportunities for overseas buyers

 

There seem to be a great debate now as to whether a sovereign debt crisis in Spain actually makes it a worse time to buy.   Let's look at the two sides of this debate. On the one hand we have people who believe that if the country gets into further difficulty then Spanish property will not be worth anything. In some ways they are right, but only with those properties that are available in abundance or that were already so overpriced that they are still not worth purchasing.

And this is the key. The other side of this story is that just because Spain is having a sovereign debt crisis that the developers or vendors of the country are suddenly going to be accepting any price or that we can buy the Royal Palace, La Zarzuela, in Madrid for a few quid. After all, don't they say it's a "sovereign debt" problem?

The reality is that this type of crisis will sort the wheat from the chaff but the property that has really been affected is the centre city property aimed at the nationals. They are now hitting the dole queues at a a terrible rate and soon will be unable to service the mortgages on their overvalued properties. In the face of negative equity will they walk away? They might, but history shows us that in the UK when faced with negative equity many people tightened their belts, borrowed from family and waited.

 

So perhaps the idea of buying a property in the centre of Palencia or Bilbao could be precarious because its price may fall even more if the economy does not recover. But can this be said of the property that is, and always was, destined to the foreign market?

In the market that concerns us, the Spanish Costas, could it not be argued that it is the UK economy that decides how the market reacts? True, there is some property that really will not sell but this is not to say that we can expect 8 bedroom villas in La Zagaleta to be down in price anytime soon.

We exagerate, of course. The large existing stock of two bed two bath apartments will certainly see "price adjustments" but there is still a hierarchy of quality to follow. The best property will hold prices and will sell before others. we are seeing great property selling NOW. Many clients are being disappointed because they wait too long and then some other Northern European buys the unit. If you hold out too long

We have seen whole Spanish property developments sell out in the last few months and these were developments that have had unsold units on them for years. Why? Because the Spanish economy has little to do with pricing in Costa del Sol or Costa Blanca. All of northern Europe would love to have a Spanish villa or apartment and they are quite literally lurking waiting, like in a Dutch auction, for the price to drop just a bit before snapping it up.

The number of British buyers in Spain in the last 5 months has once again surpassed buyers from other countries, but don't be fooled into thinking you can take your time. If you find a great property, at a price you like, go for it because you may be disappointed. After all, you don't want to be buying just one more distressed unit, you want to buy a great property that suits you and that you want to use. The real estate market in Barcelona is also reacting ery well to the lower Euro and overseas byers. You could spend the rest of 2010 looking for a bargain or you could buy a bargain now and spend the rest of 2010 relaxing and using it!

Whatever you do, enjoy the journey!

Summer Shopping for Property

In spite of the adverse news about the "weaker" economies of the so called PIGS (Portugal, Ireland, Greece and Spain) Compass Amazing Resorts have seen a sharp upturn in visits AND buyers of property in three of their 6 destination resorts, Spain and Portugal being two of them.

 

There could be many reasons for this, of course, however we believe that the main factors behind this are the price drops in Spain and Portugal. Many people know that, although there is an oversupply problem in Spain, the best deals go faster. Once someone sees something that they truly like, unless it is one of many, they should make a fair offer and go through with it.

 

Tim Landseer Brooks of Compass Amazing Resorts makes the following comments. "Those who are buying now are generally lifestyle customers. They want their place in the sun and know that now is a good time to buy. For lifestyle customers there is little to be gained waiting out the summers in search of a slightly better deal. They might as well get stuck in and start to enjoy the overseas lifestyle that has been their dream for so long."

 

Another reason why there has been a pick up in people searching and buying is purely because the summer is the overseas property "season". This is when people get time off and feel more inclined to visit the resorts and view property. Plus the relative weakness of the "target" economies is helping the pound move in our favour - just last week alone the shift in the pound has meant a decrease of nearly 3% in the price of Spanish or Portuguese property.

 

So if you have dreamed of buying that apartment in Marbella or a nice villa in Turkey or perhaps it's a townhouse in Bodrum, Didum or some other part of the sun drenched Turkish coastline for you, get in contact with Compass Amazing Resorts via email on info@amazingpropertyinspain.com give us a call or just drop in to a local branch of Reeds Rains or Your Move, our affinity partners in the UK.

For people interesting in buying apartments and houses in Barcelona, our recommended site is here: http://www.propertyinbarcelona.co.uk

 

Whatever happens, you'll enjoy the journey with Amazing Resorts.

Posted via email from amazingresorts's posterous

SIMA 2010 Starts today

As we had advanced in an earlier post, the Salon Inmobiliairia de Madrid or SIMA,  still the world's largest real estate trade fair, opens its doors today. For all of us in the overseas property industry this trade fair represents an acid test to the relative strength of demand as well as giving indications as to what newbuild developers aim to do for the rest of the year.

You can obtain further information on the trade fair or why not just turn up at the IFEMA show centre in Madrid. We also have information on Property in Barcelona centre.

Enjoy the journey!

Posted via email from amazingresorts's posterous

Spanish property dips below 100k Euros again

 

It is well known that property in Spain has been dropping in price for the last few years. Although in some areas these price drops have flattened, the news from Spain today is that in some areas prices have dropped below the "pyschological" 100k barrier.

At SIMA 2010, Madrid's world famous real estate fair, there are properties on offer in many parts of Spain for less than 100,000 Euros, and some from as low as 59,000 Euros. Now even though a lot of this offer is urban inner city property don't worry, the Spanish Costas are well represented in some of these offers.

But before you dash off to Spain to buy one of these bargains or think to use this info as a level to try and lower the price on that villa you've been following on the internet there are a few points that need to be emphasised here.

The properties at 59,000 Euros are in Foz, in the north of Spain on the "Lugo Coast". These northern Spanish properties may not be to the taste of the typical overseas property buyers. The climate there is a bit like the UK and there are no useful airports nearby. What you save on the property you might lose on the airfares. Also a large number of these units are in "edificios de altura" which is the Spanish name for blocks of flats or "tall buildings"! Tall apartment blocks have never been what the UK market demands.

In saying all this, any price drop is great news as it places a downward pressure on ALL Spanish property. However, in the more sought after Costas, like La Costa del Sol, we are seeing that prices, far from dropping any further, are beginning to stabalise and even rise. A good example are properties on the road to Benahavis, just outside Marbella. Here over the last 18 months we have seen properties sell quite steadily and, as market forces do their thing, this has caused an increase in pricing as the stock diminishes. Pricing in that area, for quality apartments, is now closer to 250,000 Euros and developers are holding their ground in the face of aggressive offers from customers.

So do not be fooled by the press. Actually this is good advice even away from the world of property! There are bargains to be had in Spain, for now. But the good stuff, as always, is starting to dwindle. In this market the early bird gets the deal! The ideal thing is to contact an agent with years of experience in Spanish property, like Compass Amazing Resorts, and let them help filter the best property for you.

One last word of advice, Spanish property is not in the internet, it's in Spain. Come on over and look at some! Visit our recomended site for the best advice on investment in Barcelona

Whatever you do, Enjoy the journey!

Posted via email from amazingresorts's posterous

UK's new government spells good news for overseas property

There can be no doubt that the forming of a new government in the UK, albeit a coalition government, spells good news for industry in general and the overseas property industry in particular.

At Compass Amazing Resorts we welcome this change of government and hope that the much hyped "sense of partnership and common purpose" truly helps get the country back on the road to prosperity.

A new government marks a new era of stability. The tories, even if their current mandate is leavened by a sprinkle of Lib Dems, have always been a party that backs business and supports economic growth. David Cameron should now impulse changes that bring about stability in the public and private sectors which in turn will stabilise the country and create employment. This in turn will lead to a return of confidence in the economy. Something that we have all been waiting for.

Posted via email from amazingresorts's posterous

Mortgages granted in Spain rises 8.5% in February

For all of those who are waiting for a "recovery" in Spain the 8.5% increase in February of mortgages granted in the country is certainly a good sign. This marks the second consecutive month with positive interannual figures.

According to Spain's National Institude of Statistics 54,813 mortgages were granted in February. This is 6.2% above January which had already been hailed as a good sign with an interannual increase of 2.3%.

For people wishing to obtain a mortgage on their Spanish property, or for people wishing to sell on property, this is clearly good news. "We have clients who have property in Nagueles, in Marbella," explains Helen Smith, from Compass Amazing Resorts, and they have been able to sell because the family wishing to buy their home obtained a mortgage in only three weeks.".

The Minister of Housing for Spain, Beatriz Corredor, has also pointed out that these figures are a clear indication that the Spanish banks and building societies are making access to finance "more agile" than before. It is interesting to note that November 2009 ended 28 months of negative tendency in finance for homes and housing in Spain, although December then returned to a negative year on year percentage.

At Compass Amazing Resorts we are delighted to see that Spain, although it has been downgraded again last week by S&P, is starting to get some positive figures on the board. More than 800 Britons have purchased property in different parts of Spain such as the Costa Blanca, Costa del Sol and even more out of the way places such as Galicia and Asturias. "The British love affair with Spain goes back decades and won't be kept back for long, even in the face of financial turmoil", adds Helen.

Posted via email from amazingresorts's posterous

Speedy boarding and the future of overseas property

Stricken British Airways has had one strike and then one week of ashen disaster after the Icelandic volcano did, or did not - as this is now open to debate - closed down European airspace. At Amazing Resorts we saw a week of almost no activity in overseas property thanks to the latter and received delayed, irritable and not very interested visits because of the former. So for us expert expats it is no secret that there is a direct link between overseas property and the airlines.

Now we see that British Airways cabin crew are once again looking to strike and we sigh and look to the heavens (No pun intended!). We don't pretend to understand the beef that the cabin crew with their employers, but we do think that this whole episode is damaging the reputation and also the revenue and therefore survival of one of the world's best airlines. If they do not solve this then will the future of air travel be in the hands of Ryan Air and Easy Jet? Not that we have a problem with these airlines, but we would like the power of choice. Imagine the airports if none of the airlines had seat allocation. We could have a set of starting blocks just past passport control and perhaps throw in some obstacles for them while allowing for a glass tunnel where the speedy boarders will stroll past on the way to the gate.

Nope, it's not a future we would relish. Come on BA, get things sorted so we can settle down and receive contented passengers. After all, if you strike everytime the volcano is not bothering us we'll never get anywhere.

However, where ever you go, check out our destinations for great second homes and residences in the sun and above all,

Enjoy the journey!

Posted via email from amazingresorts's posterous

UK houses pricing in highest climb since June 2007

Nationwide, the UK Building Society, has announced that UK house prices have increased by 10.5%, the first time growth has reached double figures in almost three years.

This spells good news for the UK economy although some have suggested the price jump is down more to undersupply with steady demand than a true increase in property values.

"It's basic economics," Explained Tim Landseer Brooks, of Compass Amazing Resorts "If people do list their properties the supply drops which, in times of steady or increasing demand will cause an increase in price."

Simples? Perhaps, but in an ecomony that has been rife with bad news this type of report, whatever the reasoning behind it, is very welcome.

For those interested in buying property in Barcelona or Turkey, we have seen a sharp increase in sales over the last 6 weeks so we would recommend that people come out and view sooner rather than later.

Enjoy the journey!

Posted via email from amazingresorts's posterous

Spain's bad news could spell good news for UK buyers

This evening Standard & Poor has dropped Spain's credit rating once again. The wekaness of the Greek economy has been blamed for the reduction of Spain's rating from AA+ to AA. This is the second drop this year.

In spite of dropping the rating, S&P have said that they still regard Spain as stronger than neighbouring Portugal. Fitch has maintained their rating of Spain at AAA.

The impact of this news was a body blow to the Spanish stock exchange which fell 2.99% today.

However, this bad news will put pressure on the Spanish banks to release some of the distressed property stock they have been "hiding" in their books. This stock will, in turn, drive prices of other stock downwards and could set Spain up for a veritable feeding frenzy from foreign buyers.

So if you are in the market for property in Spain perhaps now is the time to browse for inspiration in http://www.amazingpropertyinspain.com/ or our newly launched http://www.amazingpropertyinmarbella.com/

Enjoy the journey!

Cyprus - An Amazing Island

Cyprus is the third largest island in the Mediterranean, covers an area of around 9,300 square kilometres and has a population of approximately one million. It is an island of contrasts, from alluring sandy beaches, vine clad slopes to fragrant mountain peaks and ancient ruins that stir the imagination. With its sub tropical climate; hot temperatures in the summer and the possibility to ski in the mountains in winter, Cyprus is a firm favourite as a choice for property investment.


Compass Amazing Resorts have some fantastic opportunities available in this magical destination. From beachfront apartments to country villas, we have handpicked the best of the best, with prices starting from an amazing £100,000:

Properties near Pafos with stunning swimming pool & gardens

Priced from just €115,000

Use our property search on our website to see this and many more amazing properties currently available on this charming Island.

Watch this "Air" Space!

Many years ago we were practically forced to learn not only how to write but also to at the very least attempt to pronounce the capital of Iceland - Reykjavik, pronounced "wreck-e-oh-vic". This was thanks to various European summits and agreements being hosted there.

Now thanks to something in Iceland there probably won't be any meetings hosted anywhere for the near future. The volcano in Iceland called, wait for it, Eyjafjallajokull, pronounced, er, Ayja, er, Ehyafall... er, this is worse than Google's text recognition! let's just call it Ayja, has stopped air traffic across Europe and therefore, for those of us in overseas property, we are also stopped. This week, of a potential twenty couples searching for their dream homes in our different destinations, only one have made it. Well, they didn't really make it, as such, they were already here. Clients visiting Barcelona for property were all grounded.

At Amazing Resorts we are not a hard sell company and are confident that these clients in Marbella today will be comfortable having ten sales staff show them around the beautiful resorts we have here!

As to Eyjafjallajokull, it continues to throw its plane grounding ash into the sky and therefore keep iceland on the map. Last year Iceland went spectacularly bankrupt, this year it may help push such venerable insitutions as British Airways over the edge and meanwhile we are all told to wait and see. So, our advice, watch this "air" space.

Spanish Banks set limits on new price drops.

In an interniew en the Spanish newspaper "El Mundo", the President of the Colegio General de los Colegios Oficiales de la Propiedad Inmobiliaria (COAPIS), Santiago Baena, declared that the price of property in Spain will not drop any further, and may even rise in some areas.

The bank in Spain has now become a strong player in the supply side of the market with property that has been repossessed from both developers and members of the public.

"Everthing has its limit" Mr. Baena esplained. "And the prices are about to reach rock bottom."

Reposessed property can not be sold below its mortgage value, a value that was originally a percentage of the sales price. Also developers can not apply further discounts to those already applied. Once they reach a certain point the very banks who finance them will take the property back rather than allow them apply deeper price cuts.

In this fierce debate of value versus price, we at Compass Amazing Resorts have one piece of advice: if you like what you find and you can afford to buy it at the given price, do so. The market is much more active now and people are losing deals because they hold out for even further discount.

"It has become a bit like a Dutch Auction," explains Tim Landseer Brooks, at Compass Headquarters in Regent Street. "Many people are waiting for the price on a particular unit to drop again because they know the property has been on the market for some time, then suddenly it is gone."

In the last two months Compass Amazing Resorts has seen a rise of more than 200% in property sales wehn compared to the same period of 2009.

"This is not a false spring," Says Tim. "This is a positive trend. Something that is good for the market."

If you are interested in Spanish property then please browse our property selection on http://www.propertyinbarcelona.co.uk
Have an Amazing day!

Jump in Spanish Property Sales

While true that it is easy for sales of property to experience positive changes when compared to last year, the jump in sales in February was far above the expected increase.

According to the Spanish National Institute for Statistics (INE)

After an increase, year on year, in January of only 2%, the number of homes sold in Spain in February 2010 compared to the same month last experienced a staggering 18.7% increase! It is thought this increase is a result of both renewed confidence in the market and also a decision by buyers to buy before the July 2010 increase in IVA (Spanish VAT) which will go up by 1%.

Good news then for a market that has been assailed by negativity for some time.

Here at Amazing Resorts we have also noticed a welcome jump in interest and also sales. Our site http://www.amazingpropertyinspain.com/ although only a few weeks old, has experienced a great number of "hits" and we already have clients booking trips to view properties that have been showcased there.

Our advice is to do like the Spanish and buy before July. Now is the time to take the plunge and buy your home abroad.

As usual you can drop us a line on info@amazingpropertyinspain.com

Have an Amazing evening.

Amazing Property in Spain launches new website

 We are pleased to announce that we have launched a new website to focus on the increasing demand for property in the Costa del Sol, with special emphasis on property in Marbella. Amazing Property in Marbella will showcase the very best, hand picked properties along the Costa del Sol. For clients demanding a careful selection of luxury property or the best bargains in quality units along the sunshine coast

A Place in the Sun Live 2010

Once again Compass Amazing Resorts was present at the UK largest overseas property show A Place in the Sun Live 2010!

Hosted by Amanda Lamb, Jasmine Harmon and Jonnie Irwin the trade fair exceeded expectations and saw many many visitors receiving top quality information from exhibitors.

Compass Amazing Resorts had two stands at the show, one to showcase property in Spain and the other to provide information on Turkey, Florida, Cyprus and some bank product from Spanish bank Bancaja.

All properties shown at the show were well received and we are now sending out more specific information to all clients who we have spoken to. Many thanks to all for your questions and interest, remember more information is available on http://www.amazingpropertyinspain.com/ or you can email us on info@amazingpropertyinspain.com

Have an Amazing week!

Bank lending in Spain shows positive increase

According to El Mundo newspaper this morning bank lending in Spain increased by 2.3% in January.

What is interesting is that the average rate of interest achieved for mortgages signed this year has dropped by 28.02% to 4.05%.

Holy Week Tourism

Another important piece of news in Spain and Portugal is that numbers of hotel bookings is much higher than anticipated. Some areas of Spain are reporting 100% occupation in bookings with Costa del Sol at nearly 80%. The Algarve leads Portugal.

This may be because after the wettest first quarter to the year in decades, the sun has finally returned to southern Europe!

Bancaja offers turning into Spanish Sales

We are thrilled to say that we have now started to see the fabulous offers from Bancaja turn our interested respondees into proud home owners!

At the end of the three week period we have seen dozens of clients get their mortgages approved and then move towards completions. A truly amazing deal.

In a press release today we have detailed the offer for all to see. For further information please visit http://www.amazingpropertyinspain.com/

Top 10 Places to Buy in 2010

As you know Amazing Resorts were at A Place in the Sun exhibition last October (and will be exhibiting again at the next A Place in the Sun - the UK’s only dedicated overseas property exhibition returns to Earls Court London on 26th - 28th March 2010).

A Place in the Sun organisers asked visitors at the last exhibition where they were looking to buy overseas. This was then combined with each country’s popularity and A Place in the Sun’s own assessment of what the country offers in relation to accessibility, value for money, lifestyle, infrastructure etc.

A Place in the Sun’s Top 10 Places to Buy in 2010 are……

1. Spain
2. Florida
3. France
4. Portugal
5. Turkey
6. Italy
7. Cyprus
8. Greece
9. Caribbean
10. Bulgaria

And we can offer you property in 2 of these destinations! Watch this space for more details on our stand at the A Place in the Sun Exhibition, Earls Court, London on 26th - 28th March 2010!

See you soon!

Bancaja offer gathers pace!

Well you saw it first with Compass Amazing Resorts. Last week we announced that we had teamed up with Bancaja Habitat in an amazing alliance that brings you the ability to choose from a huge range of properties in Spain, pay 15% and then NOTHING for three years.

Maybe have asked us how this works. It's quite simple. You come to Spain and choose your Spanish property, whether it's an apartment in Vera, Almeria or a townhouse in lovely Denia in North Costa Blanca or Barcelona.

You pay a reservation fee and send the paperwork to Amazing Property in Barcelona. We will put the application for the mortgage together and pass it to the bank.

Once they get the approval you pay the balance of the price up to 15% PLUS the closing costs. What are the closing costs when you buy a Spanish second home? Here they are:

Spanish VAT (Called IVA) = 7%
Legal document fees (GJD) = 1%
Lawyer's fees, if you have used one = 1%

grand total 9%.

So if you take any property from our currnent Bancaja Habitat portfolio then ALL you pay is about 24% of the price and you move in!! SIMPLES!

Any information you may need please contact us on info@amazingpropertyinspain.com or pop into any branch of Reeds Rains or Your Move.

Have an Amazing Friday!

Bank of Spain demands that Spanish banks and building societies drop prices of real estate units by 20%

In news today from Madrid, the Bank of Spain has make it public that it has demanded that come the end of this financial year, the banks and building societies holding property will have to reflect a 20% drop in value in their balance sheets.

Banks hold property as a result of purchases they make for investment reasons or due to repossessing property from people unable to pay their mortgages or other loans that may have taken property as collateral.

This spells good news for potential inevestors as Spanish banks have, to date, been reluctant to drop prices even in the face of interested buyers. The so called “repossessions” market has not truly taken off due mainly to the bank’s reluctance to accept any price drops.

“The banks are ultimately against selling at a loss. Like all investments, only when the sale is made is the loss properly reported, something that managers and share holders don’t like seeing.” Says Helen Smith, from Compass Amazing Resort’s overseas office. “However, the banks can not hold on to these properties for ever. This move by the Bank of Spain is great news for the overseas buyer and invester. It’ll free up property that to date has been too highly priced."

Also today, Spain, currently holding the presidency of the European Union, has announced a public debt of 4 billion Euros while Brussels has given details of a plan to aid the ailing Greek economy. Both of these may seem like bad news for the UK buyer of Spanish property but the expectation in the market now is that the Euro will fall against the pound. Indeed, The City of London report more than 7 billion sterling has been placed “short” against the Euro. This essentially means that the Euro is most certainly expected to drop soon. Good news for us Brits wanting a deal in Spain, or any other country in the Euro Zone!

Buen viaje!

“Free Money” offered by Spanish bank!

This amazing deal from Bancaja Habitat offers no interest or capital repayment for 3 years, a Loan to Value of 85% and even has no administration fees (except notary charges and the usual taxes).

The properties are mainly situated on the Valencia coastline and are immensely attractive to those wanting low money down deals.

Amazing Resorts has teamed up with Bancaja to offer Spanish homes or developments that they have financed. Contact us today to find out more about this incredible offer or click here for further information on the different properties available.


But why such an amazing offer? Well, many Spanish banks are “hiding their losses” by not declaring properties in negative equity therefore in a move to sell repossessed property Banjaca came up with this innovative solution to address the problem: free money!

Given the way Spanish banks, indeed ANY banks, have been over the last year or so, this move by Bancaja Habitat to help move Spanish property, can onbly be seen as positive. The overseas property market can now breath a sigh of relief as people can gain access to their dream home abroad, with a minimum outlay. Some clients have even said that it's almost low enough to put on a credit card! Your Spanish investment can now become a reality. Contact us immediately for more information or download our summary of some of the best offers in different parts of Spain.

Have an Amazing week and we look forward to giving you the keys to your new amazing property in Spain! Olé!

UK House prices increase!

According to mortgage giant Halifax house prices in the UK rose by 1.9% in January.

This news, which took many pundits and indutry comentators by surprise, is pleasant news indeed for the real estate industry and could also be a welcome harbinger of economic recovery.

The average price of a home in the UK is now reported to be 163,966 which represents an increase of more than 4,000 since the end of December.

Good news indeed, even more so given the tendency of the previous months. As we know, at Compass Amazing Resorts, the UK economy is the driver for the overseas property industry.

Portugal Rentals - Make Money from YOUR Property!

According to recent statistics, rental of property in Portugal increased significantly in 2009. As a result of this, rental values are increasing and, in some cases, a monthly rent exceeds a typcial monthly mortgage repayment!

This is great news for those of you looking to have your property work for you. A typical one bedroom property to rent in Portugal averages between 400 to 650 euros per month.

Spanish Tax changes in 2010! And yes, it affects property!

As part of the package put together by beleaguered Spanish government, the VAT levels in Spain increase this year.

So why do we mention this in a property Blog? Well firstly because the VAT on restaurant bills goes up by 1%, something that really hurts us at Amazing Resorts, but, more importantly, the VAT on Spanish property, currently at 7%, will increase to 8% on July 1st, 2010.

So if you were wondering if it was worth waiting and waiting for that Spanish bargain, then we would recommend NOT paying that extra 1% to the Spanish tax office.

The Spanish property market has see quite a bit of movement in the last few months and some great great properties have gone for better than great prices.

To help you, browse through our fabulous selection of property on http://www.amazingpropertyinspain.com/ and then fly out and see us. We WILL find what you want and at better prices than anyone else.

Beat the Big Freeze!

It seems that everyone is talking about it. January 2010 in the UK! The worst winter since 1963, or, as some are saying, the worst winter in more than a century! Stocks of grit are running low, supermarket shelves are almost bare and sales of cat litter have been reaching record levels as people use it to try to melt the ice on pathways. Travel is thrown in to total chaos with airports closed, flights cancelled, trains grounded and buses simply skidding! Warnings have been given for people not to travel unless it is absolutely essential and to set out fully prepared and equipped with shovels, sleeping bags and flasks of hot beverages.

Well, here at Amazing Resorts we have a solution for you to beat the Big Freeze! As we shiver in to the New Year, why not make 2010 the year that you make the change and escape the chill! Next winter, instead of being snowed in with the heating pumping away and staring out of the window into bleak greyness; you could be sitting on your terrace, sipping a chilled glass of wine whilst watching the sun set on the horizon.

The bargains are still out there but it’s no use spending hours and hours doing endless searches on the internet and looking at pretty pictures. The best buys have to be seen to be believed so come on, get your skates on and see for yourself why NOW is the time to beat the Big Freeze!

Just a couple of examples of the current bargains........


PORTUGAL, ALGARVE




Priced now at just €159,000, this spacious 2 bedroom townhouse with private garden area is an absolute bargain! Click here for full details.





SPAIN, COSTA DEL SOL




Huge reductions on this fantasic resort in the Costa del Sol, prices now from just €201,250. Click here for full details.