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What’s happening in Spain ?

 

We note what’s been happening in Spain from the latest Spanish Property Insight report – it’s dot com; do take a look. We quote a little. If you are active here, do check out the report at the site. ‘There continues to be concern at the apparent reduction of buyers’ interest. However, as with the number of agents, there are now so many developments to choose from that though there may appear to be a reduction in the number of buyers, when all are totalled, the actual numbers may not have reduced significantly.’

 

‘As this is being written, we still don’t know if there will be a deal or not. The treatment of UK passport holders in Spain will mirror the treatment of Spanish resident in UK. Fortunately, we do not see the xenophobia in Spain that is reported in UK, but we still may be penalised for it.’

 

‘Every time there looks like being a deal, the exchange rate ‘improves’, to the benefit of holders of sterling. The ‘rollercoaster’ still has many more rises and falls! Many buyers and sellers will be delaying until they know more of what’s happening. Brexit affects many economies throughout the EU and beyond. Its effects will be felt by the world economy, when indicators are already showing the possibility of another recession.’ 

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OFF-PLAN

Off-Plan Savvy

 

Before committing to an off-plan purchase, you need to do your homework. ‘Find out as much as you can about the property. This includes architect plans of the property itself and the development as a whole; price lists for the different types of property; lists of materials and specifications; and whether it’s possible to change the standard specification, i.e. room layout, fixtures and fittings, finishes and colours.’

 

‘Check the plans of the property carefully. On a scale drawing, it’s difficult to imagine the actual size of the rooms. Look at the show house comparing its actual sizes with what you’ll be getting based on the scale drawings. Check the list of specifications and exactly what these include. The list should be comprehensive, right down to the materials used for roofing and pipes and the colours of walls, doors, windows and tiles.’

 

‘Check the orientation of the property. To secure a sale, a sales representative will often happily promise you sea views, for example, but you can only be sure of this if you check the plans of the whole development to find out where your property lies in relation to the sea.’ More? Email back if you are interested further for the full piece.

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Savills Report : Valencia – Spain

Valencia / Spain – A BRIGHTER FUTURE

Spain is the second most-visited country in the world after France. From its wonderful food and climate to its vibrant cities, culture and history, there are many reasons why people move to Spain for a more permanent stake in the country.

The hardships faced by Spain following the Global Financial Crisis are now in the past. The future looks bright as the country’s property market registers increasing numbers of transactions, steadily growing prices and more construction.

Following nearly a decade when practically no residential homes were built, construction activity is increasing. This is mainly in the key cities, but also across the country. This is forecast to increase as more residential permits are granted.

There is growing interest from international buyers, especially from countries in Latin America that share cultural and historical links with Spain.

In a global context, Spain’s prime city markets offer value for money and more growth potential than other world cities.

The country’s status as a top visitor destination, coupled with the high-quality life and low cost of living it offers, will continue to attract buyers and underpins Spain’s lasting appeal.

Valencia

Valencia is Spain’s third largest city, the home of paella, famous for its beautiful beaches and buildings, and just an hour and 40 minutes by high-speed train to Madrid.

Residential property prices are significantly lower than those in Madrid and Barcelona, which serves to attract investors looking for good rental returns.

Price growth has been slower than some other regions of Spain, with values rising 17.5% during the past five years. Yet, transaction numbers have doubled, indicating an active market. Residential development activity is increasing, a sign that confidence has returned to the market. New building permits being granted suggest this trend will continue.

 

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We always work with a legal Notary….

Spain is still very popular .  And now’s the time when many are in Spain with money burning a hole in their pocket! So, let’s re-run a piece ……..

 

Know Your Rights

Before they start their overseas property search, buyers need to know what their rights are and what will be needed from them during the sales process. They need to know about all costs and taxes related to the property purchase as well as social security rights, personal tax implications, education rights (if they have children) and employment rights.

Ask about the community charge; maintenance costs must be considered especially when buying within resorts. Also ask about the property developer and their portfolio. Even if you are buying a resale property, you will be able to access more information about the quality of the developer’s work.

 

Beware The Warning Signs

The warning signs to avoid when viewing property overseas are many. The conditions of the community – When buying a property within a community, even more important than the condition of the property itself is the condition of the communal areas. A healthy community will always keep the value of your property while an unhealthy community could decrease the value of your property significantly.

Off-plan properties – always ask for the background of the developer and view the show house. Would you buy a car from a manufacturer that has never made one? Don’t be rushed into the buying process. Be alert! For example, when the developer won’t even hold the property as reserved for one day, take that as a warning sign.

 

Take Advice

From a property perspective, the most common mistakes include buying on impulse; ‘falling in love’ with a property and buying it without assessing the pros and cons, simply because it was a great day. Not knowing the area. Many buyers of second homes know nobody in the area except for the seller of the property or the estate agent. Forgetting about the community charge. Maintenance costs that must be considered even though buyers may not be there for most of the year.

 

Once you have found the property you want to buy,  get involved in the conveyancing process,  the conditions you have agreed e.g. property, price, completion date. Liaise with all the different parties involved (agents, vendors, developers).  Then before a Notary sign all legal documents.  The process of buying a resale property takes between four to six weeks and off-plan property depends on the stage of the construction; it could be between six and 12 months

Are you buying in Spain? Drop us a line. We always and only work with a legal Notary.

 

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Spain – Time to buy…….

Spain – Time To Buy Soon

We suggest that Spain may be a good place to buy into soon. Here’s what we say. ‘The Spanish property market certainly suffered in the 2008 financial crisis – but that is now a thing of the past. Things are looking up for investing in property here for a number of reasons, and despite issues such as Brexit, UK investors can still benefit enormously from buying property here. 2020 could be the perfect year for you to invest in property in Spain.’

 

‘It’s official – Spain’s property market is on the increase. According to a recent property market report, residential property prices rose an average of 6.7 per cent across Spain. 2018 was the fifth consecutive year of increases in property values.’

 

‘One of the issues that is certainly hanging over British investors buying property in Spain is the issue of Brexit. As this fraught political issue continues to remain unresolved, a great deal of uncertainty has been created – and of course, uncertainty is never a good thing for those interested in investing their money. It may be the case that by 2020, Brexit will have been resolved. If this does happen markets may begin to stabilise, and there will be far less volatility, for example in currencies.’ More to come.

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VALENCIA – Inspite Brexit – Property Prices in Valencia have risen

Residential property prices in the Spanish port city of Valencia have risen by almost 17 %.

Valencia, situated on the southeast coast and most famous for being the home of paella, is Spain’s third largest city after Madrid and Barcelona, with some 800,000 inhabitants.

It plays host to many arts-related attractions and cultural venues, including Ciudad de las Artes y las Ciencias (a huge, state-of-the-art science complex set within a landscaped garden with a huge aquarium and IMAX screen), the Central Market of Valencia, Valencia Cathedral, La Lonja de la Seda (an impressively grandiose 15th century building) and L’Oceanogràfic (a vast aquarium with sharks and a dolphinarium).

It’s also home to the 55,000-capacity Estadio de Mestalla, the ground of Spanish giant Valencia CF since 1923.

“In 2018, sale prices for residential property rose by 17% compared to the previous year.”

“Underlining the fact that Valencia is one of the up-and-coming regions, after The Balearics and Canaries, and is also one of the most popular locations for international buyers.”

This strong demand from international buyers includes French, German, American and Chinese purchasers eager to invest in renovated properties either for rental or as a capital investment, with the most exclusive properties located in Valencia’s city centre.

Families tend to have a preference for luxury houses here with several bedrooms. The central district of L’Eixample, for example, is one of the city’s most expensive locations, with prices of up to €4,100 per m2

Particularly sought-after are modern freehold apartments and large villas directly on the coast or with sea views, where top prices of up to €6,400 per m2 were achieved in 2018. The area of Ciudad de las Artes y las Ciencias (the City of Arts and Sciences), with its international flair and a rising reputation, is also one of the most desirable and modern areas to live in Valencia.

Currently, the market in Valencia is dominated by national buyers, who account for roughly 75% of all sales. The remaining quarter of clients hail from France, Russia, the UK and Italy, with investors from overseas most interested in exclusive villas and freehold apartments for use as second homes.

More growth moving forward

The residential property market in Valencia will continue to see positive growth, according to Villasvalencia, with the rise in demand from international and national prospective buyers remaining consistently high.

“We anticipate that property prices will continue to rise year-on-year, especially in the centre of Valencia” .

We have more information about the residential property market in Valencia.

 

 

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Brits buying in Spain

We note, from a new report from Property Guides that  55 per cent of Brits considering buying property in Spain ‘aren’t worried about Brexit affecting their future.’

The most popular regions are the Costa Blanca (42 per cent) and Costa del Sol (38 per cent). Former popular regions are proving less popular right how – the Balearics (8 per cent) and Canary Islands (13 per cent). Others are more popular, including Valencia (17 per cent) and Costa Almeria (31 per cent).

‘It’s quite easy to see that, in spite of Brexit, British people remain determined to pursue their dream move to Spain. Even faced with the uncertainties around the process, such as the strength of the pound and healthcare access, many have an unshakeable confidence that they will still be able to enjoy a high standard of life.’

‘Simply put, the lure of the beautiful weather and a healthy retirement offered by Spain is too strong to be dampened by Brexit concerns, especially among retirees. Many of the people planning a move to the country will have been doing so for years, so it will take a monumental shift in the status quo to make them think twice about investing.’

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Spain : The world`s healthiest country

The Mediterranean diet helps residents to live longer. – Spain has in fact taken over from Italy. Spain has risen from sixth place in the last assessment published 2 years ago to reach top spot. Eating habits have been signalled as one of the main factors in the good health rnjoyed by residents in the country.
“Mediterranean diet, supplemented with extra-virgin oil and/or nuts, had a lower rate of major cardiovascular events than those asigned to a reduced-fat diet”

Spain has the highest life expectancy at birth among European Union nations and trails only Japan and Switzerland globally according to UN.

By 2040 the country is forecast to have the highest lifespan, at almost 86 years, followed by Japan, Singapore and Switzerland. They highlight a decline the past decade in cardiovascular diseases and deaths from cancer in Spain. It also takes into consideration environmental factors including access to clean water and sanitation.

5 other European nations were amongst the top 10 in 2019:

Italy (2. place)  Iceland (3rd)  Switzerland  (5th)  Sweden (6th)  Norway (9th) with the UK back  (19th) and Ireland (20th).   –  Japan was the healthiest Asian nation, jumping 3 places from the 2017 survey into (4th). Australia and Israel occupied (7th) and (10th place) respectively

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Why you should buy in Valencia !!! (not in Andalucia)

When I look into the eyes of those affected by illegal houses, the vast majority nearly in their 80s, I think that enough is enough, that this useless suffering must be brought to an end. I also think it´s time to get rid of byzantine, cumbersome laws that do not work, and the sooner the better.

It is evident that urban planning in Andalucía has failed. Proof of this is the 300,000 illegal houses that exist across the region, a problem that probably affects around a million people, and could represent an investment of tens of thousands of millions of Euros. For any sensible person it is also evident that it serves no purpose to demolish these houses, as well as useless and unjust to knock down just a few, except in cases of obvious risk. Prevention is what is required and it is obvious that prevention has failed. That it has failed is not the fault of those affected, it is the fault of the administration. And what cannot be allowed is to keep these poor pensioners as a type of planning hostage until the planning system does its job – a planning system that clearly does not do its job.

The 16,000 people affected in Chiclana in Cádiz have spent 30 years waiting for the planners to resolve their problem, as have those in Carmona in Seville. And those on asentamientos in the Valley of Almanzora in Almería have waited for more than a decade. Enough is enough. Many of those affected in Chiclana and Carmona have running water just outside their plot or urbanisation and again, as if they were hostages, they are not allowed to connect, purely for reasons of planning dogma, in order not to “reward them” they are told. The truth is that the “rewarded” are sunning themselves on the beach whilst those affected live in inadequate conditions and without legal security.

It´s unfortunate that urban planning has been converted into an orthodoxy and this simply cannot be. What is required is a new philosophy in urban planning, one that walks hand in hand with citizens and their needs; a new philosophy that resolves problems and that doesn’t criticise the errors of others without being prepared to be self-critical at the same time.

For this reason, the announcement from the new government of Andalucía that they are going to take rapid measures is a breath of fresh air for thousands of people. These are statements of intent that give hope to those affected. They are no longer told “it’s very complicated” and “it must be studied”. They are told “we are going to resolve it”, “we are going to take action” and “we are going to work with the citizens”.

Those affected are not only hopeful, but also hope that this new “can do” spirit will spread, not only to the other political parties, but also to other branches of the Administration and the State. I believe that enough is enough with the demolition of houses, putting ordinary families into the street, and enough is enough of people not having basic services and legal certainty. In fact, enough is enough of damaging the environment because there is an unwillingness to regularise these houses, as enough is enough of trying to resolve a problem through planning, sometimes as an excuse for building more houses.

Therefore, we thank the Junta de Andalucía for their promise to deliver and I am sure that they will start to take steps rapidly. We hope that they can count on social and political support. Certainly, I will campaign for this resolution both personally and as President of AUAN. I will campaign in a constructive and conciliatory way, because people deserve politicians that concentrate on resolving their problems instead of wasting time fighting among themselves. Whilst I still have the energy you will find me campaigning to advance on the path of sensible planning, a path that I am happy to see is beginning to become clearer.

Maura Hillen, President of AUAN

Abusos Urbanisticos Almanzora No (Spanish: No Urban Abuses Almanzora; Almanzora, Spain)

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Madrid adopts rules that will shut down over 10,000 holiday apartments

The Madrid city council has approved a special plan regulating holiday rentals that will foreseeably shut down over 10,000 apartments currently used for short-term tourist stays.

The new regulations stipulate, among other things, that apartments used as holiday rentals inside residential buildings in the city center must have a separate access area from the one used by regular residents. Guests will not be able to use the same building entrance or elevators.

The three rings affected by the new rules.

In practice, this means that 95% of these apartments will be unable to obtain the required license for this kind of activity, according to city officials.

Opposition groups in the council said the plan will have an economic and legal impact on an entire sector, and will likely lead to challenges in court. Manuel, the owner of a tourist apartment and member of an association named Madrid Aloja, was present at the council vote, and says that he and other owners like himself will take legal action to defend their activities.

The popular platform Airbnb has described the new regulations as “not very clear,” “unfair” and containing “disproportionate restrictions.”

The 90-day rule

The new rules target properties that are used as holiday rentals for more than 90 days out of the year, at which point they are considered to be engaging in commercial activities that require a license.

The restrictions affect an area that has been divided into three rings covering the historical city center as well districts such as Moncloa-Aravaca, Arganzuela, Latina, Usera and Carabanchel.

The city councilor for sustainable urban development, José Manuel Calvo, said that these rules are necessary because “massive tourism does not bring added value to cities, rather on the contrary, “it degrades them”

Mayor Manuela Carmena at the council session.KIKE PARA

“In the neighborhood of Sol, there are two tourists for every resident. In the Cortes neighborhood, the ratio is 1.3 tourists for every resident. This is what’s known “as touristification,” he added.

The Socialist Party (PSOE), which voted in favor of the initiative, said there are over 15,000 properties operating as tourist accommodation in Madrid, and that more than 10% of them are located in the downtown Centro district.

The Popular Party (PP), which voted against, placed that figure at 10,467 based on existing regional registers of licensed holiday rentals. But city officials refuse to give out any numbers because this activity is not regulated, noted Calvo.

At the very least, 9,944 registered properties would be unable to adapt to the regulations, leaving 524 in operation. But the PSOE notes that the real figure is higher if the unregistered properties are taken into account.

Mercedes González, a PSOE councilor, said there is an urgent need for regulation to prevent the city center from becoming “a tourist theme park” ruled by “the law of the jungle.”

“This is a first step, necessary to start walking towards a different kind of city where residents can live in peace,” she said, adding that the boom in holiday rentals has “a clear impact” on the real estate market, where the price of rent has been rising at an annual rate of 8%. González also cited friction between residents, gentrification and a change in the commercial fabric of neighborhoods.

Meanwhile, the PP and Ciudadanos (Citizens), both of whom voted against the plan, said that they want to regulate the sector but in a different way.

“Mayor Manuela Carmena [of the leftist Ahora Madrid party] wants to evict an economic sector, the holiday rental sector,” said the PP’s municipal spokesman, José Luis Martínez Almeida. He said that demanding an independent entrance area is just another way of banning this activity from downtown Madrid, and also noted that in any case, “there is a for-profit use from day one, not from day 91.”

The city has a team of 22 inspectors who have examined 11,936 homes in 502 buildings. Of these, 1,729 (14,48%) were being used as holiday rentals. While municipal authorities do not have the power to issue fines, they can initiate individual proceedings that could end in the closure of the unlicensed business activity.

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Spain / Valencia – The clock is ticking

The clock’s ticking on Brexit, but is it really ‘time up’ for British property buyers looking to move to Spain?

We’ve cut through the media hype on Brexit and gone straight to Spain emigration lawyers on the ground. Our findings? You can move to Spain after Brexit – even if there’s no deal.

Think about it: despite Brexit, the number of British buyers in Spain has risen again this year.They know something that others don’t, and that is how to ‘Brexit-proof’ their plans.

There are two key points to know here.

Firstly, buying a home is not one of the EU’s four freedoms. Anyone can buy in Spain, as many Australians, Americans, Canadians and more do every year.

Secondly, the government is extremely keen to attract foreign investment. Movement is one of the EU’s four freedoms, but all it will mean is a little bit more paperwork for a visa. We’ve put together a document covering all the key visas you could apply for, whether you’re moving permanently, buying a holiday home, finding employment or setting up your own business.

And if you do have any further questions, don’t hesitate to contact us …

Good luck with your move!…..to the Valencia region…..

 

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British Expats get to vote in Spain – 2019

In May British expats are allowed to vote in municipal elections in Spain according a Treaty between Madrid and London signed. This treaty was signed by Mr Walker and Mr Aguiriano, meaning that British citizens living in Spain and Spanish Citizens in the UK can continue to participate in local elections, in the future. However, in the future, UK nationals will need to have resided in Spain for 3 Years to excercise their rights under this treaty; for Spanish nationals to vote in local elections in the UK will remain the same.

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About Us

Villas Valencia offers properties in Valencia at Spanish prices. What`s more, we don`t charge the buyer (as most other agencies do). We are an English locally run estate agent company dealing with properties in a picturesque area around the city of Valencia.

Testimonials

You are the only agent we dealt with your knowledge of the area and the buying process left us at ease that everything would be taken care of. - Mr & Mrs P, in Naquera

Your advice was clear and brilliant. You completely understood our requirements and objectives, facilitating our new purchase. Thank You! - Mr L, Now living in Lliria

You offered a great service from start to finish, clearly explaining all our options and helping speed everything through. You translated everything we needed quickly.

- Mr T, Second home in Montroy

Villas Valencia was fantastic and exceeded my expectations. I will and have recommended you to others. Thank you for all your referrals for building work. We love our new pool! - Sean, house in Rocafort

Thank you for all the help buying our property in Valencia. With so much to think about, you explained everything well and made it all very easy. Cant wait to move out there fully and enjoy a G & T on our balcony with you.

- Ben, house in Naquera

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