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Spain…..Positive news for the Spanish House Market

Prime property sales in Spain’s key cities and sales in resort areas have been key drivers  in the first half of 2018. Prime sales increased by 27 per cent year-on-year.  Meanwhile, key second home destinations such as Marbella, the Costa Brava, Valencia and Ibiza all saw significant growth compared to the same period last year.’

 

‘Properties above €1.5 million and new homes are selling particularly well. Northern European buyers have been the most active with French and British buyers accounting for over 50 per cent . We are currently looking at a number of high-end projects in the area as demand for turnkey homes, particularly from foreign buyers, grows year by year.’

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British expats have been urged to ensure that their tax affairs are in order

British expats have been urged to ensure that their tax affairs are in order as

HM Revenue & Customs escalates efforts to target those who live abroad.

The taxman has massively stepped up the use of EU laws designed to increase

co‑operation between tax authorities. Experts say this is accelerating after the

amount of tax HMRC collected from people living overseas trebled in just a year.

This is part of a wider push on tax avoidance by the Government, which has

reduced the estimated amount lost from £4bn in 2011-12 to just £1.7bn in 2016-17.

Now the tax office is casting its gaze across the Channel.

In 2017 it made 1,006 requests to foreign authorities, resulting in the recovery of £5.7m in tax….

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………………Universal Health Care………..

By Gwynne Dyer

            Nothing is perfect, and that definitely includes health care. On the 70th anniversary of the first full-coverage national health care system that is ‘free at the point of delivery’, Britain’s National Health Service, English people have been marching in the streets demanding better funding for the NHS, and Donald Trump naturally got the wrong end of the stick again.

             Back in February, as part of his war against Barack Obama’s attempt to improve the coverage of the rudimentary US health care system (‘Obamacare’), Trump claimed that the marchers were protesting because the British system is “going broke and not working.”

             It’s tough trying to defend the existing US system when every other developed country provides universal health coverage for its citizens, but Trump battled bravely onwards, later tweeting that the Democrats in the United States “want to greatly raise taxes for really bad and non-personal medical care.” Like the British allegedly suffer under the NHS.

             In fact, the English National Health Service (Scotland and Northern Ireland have separate but similar systems) is, in former Conservative cabinet member Nigel Lawson’s words, “the closest thing the English have to a religion.” It is almost universally loved, and the protests were about government under-funding of the NHS.

             Even the Conservative government that has strictly limited funding increases for the NHS over the past seven years, despite rising demand due to an ageing population, has now been forced to yield to popular demands. Prime Minister Theresa May announced last week that the NHS would get a funding increase of 3.4% per year over the next four years, giving it an extra $27 billion annually by 2023.

             But are the English right to love their health-care system – and are the French and Germans and Russians and Japanese and the people of almost every other developed country right to revere their own similar systems? The United States may be the odd country out, but it does spend far more on health care than anybody else.

             The United States spends 16% of its entire Gross Domestic Product on health care, almost twice as much as the average (8.2% for Japan, 8.4% for the UK, 8.5% for Australia, 10.4% for Germany). In theory, that ought to mean that Americans are healthier than everybody else and live longer. In practice, it’s just the opposite.

             The United States is the only developed country where the average life-span is less than  80. In fact, it’s barely 78 years in the US, whereas everywhere else it’s in 80-82 range. The US also has the highest ‘preventable death’ rate of any developed country, and the highest infant mortality rate by a very wide margin. Americans spend more on health, and get less back, than anybody else.

             They also spend far more of their time worrying about health care. The principal cause of personal bankruptcies in the United States is ‘catastrophic’ health emergencies, and all but the very rich have to devote much time to finding affordable medical insurance. Elsewhere in the developed world, nobody really thinks about that. The care will be there when you need it, and nobody goes bankrupt.

             The model that was pioneered by Britain’s NHS on July 5, 1948 has been so successful that it is now spreading into many developing countries as well. India is still a poor country, but its National Health Policy 2017 goals include a commitment to “progressively achieve Universal Health Coverage.” China is working to provide affordable basic healthcare to all residents by 2020. And so on.

             Attitudes change over time. In the 1930s nobody thought that there was some sort of basic human right to health care. The well-off paid for their own, and the rest depended on charity (which wasn’t very dependable). What changed that attitude was the Second World War, a time of great national solidarity and sacrifice in every country.

             It was the worst war in history, but it produced a generation who believed that the people who had shared in the sacrifice (in both the countries that won and those that lost) must not be left behind in the peace that followed.  The will was there to do new and great things, and they did them.

             It is no coincidence that the same year of 1948 saw the signing of the Universal Declaration of Human Rights, which said (among other things) that “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services.”

             The world had turned, and what had been a privilege became a right. One that is still widely abused or neglected, of course, but it has nevertheless spread across the entire planet in the past 70 years. Why did the United States miss out?

             The answer is probably a free-market ideology so strong that it enabled the insurance companies and the medical profession (which opposed the idea of a national health system in every country, at least initially) to win the political battle in the US and strangle the idea in its cradle. It keeps coming back even there, but for the moment Americans must go on paying the costs of their ideology.

 

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Valencia (Spain): Best European City to Buy Property in 2018

An Independent Company specialized in International Real Estate services, sees 5 top opportunities for American investors to buy property in Europe.

Here is the ranking of the 2018 survey:

1. Valencia (Spain)

2. Paris (France)

3. Berlin (Germany)

4. London (United Kingdom)

5. Venice (Italy)

Reasons to choose Europe

1: The strong current US Dollar to Euro exchange rate. American buyers can expect a positive outlook if choosing to invest in European Real Estate.

2: Geo-political stability throughout Europe and market performance benefits.

3: European cities are best known and appreciated for their culture, history and cuisine.

4. Excellent standard of living as well as an opportunity to amplify investments in real estate.

As a result, European real estate purchases made by American citizens have increased since last year (UK +2.6%, Spain +2.5%, France +2.4%, Italy +1.9% and Germany +0.85%).

Valencia

Valencia has seen an increasing presence of foreign buyers after its market crisis. With relevant capital inflows, infrastructural projects have since been under development, selling for an average price of $195/sq. ft., half that of those in Madrid and Barcelona. The percentage of foreign investors on overall real estate transactions in the central area of Valencia is more than 30%, 18.2% higher than 2017.

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• Valencia’s competitive property prices attract investors

Spain’s third city is now seeing steady gains and attracting investors following the fall of its property prices and the number of sales transactions during 2007’s property crisis.

Its latest market data shows property sales transactions in Q1 2018 increased by 20% more than the same period in 2017, while the number of foreign buyers increased from 10% in Q1 2017 to 33% in the same period this year.

Property prices in Valencia are currently less than half of those in Barcelona and Madrid on average, reaching €1,743 per square metre by Q1 2018. Prices in Barcelona were at €4,334 per square metre, and prices in Madrid reached € 3,540 per square metre during the same period.

Prices in Valencia have since then picked up, showing an annual growth rate of 13%. The districts most popular among foreign buyers – Eixample and El Pla de Real – saw price rises of 10% and 13% respectively.

Valencia’s growing appeal is confirmed by recent government figures. The Spanish Registrars Association (Registradores) revealed that in 2017, 10% of total sales completed in Valencia were made by foreigners, compared to 6% in Madrid 9% in Barcelona.

Valencia’s manageable size appeals to foreign buyers, along with the beaches to the north-east of the city where the mix of apartments and townhouses with communal pools and play areas make them popular with families.

For those familiar with the city and its recent development, the current buzz surrounding it comes as no surprise. It is now a growing hub for business and innovation and home to leading companies such as Ford, BP, Mercadona and Caixabank.

Communications with the rest of the country and Europe are excellent – you can arrive in the centre of Madrid in less than an hour and a half on the AVE fast speed train whilst recent data shows that Valencia airport arrivals are up by 19% year-on-year to April 2018 with Italians, Germans and the British making up the biggest proportion.

The property recovery has been slower in Valencia than in Spain’s other two cities, he expects to see a noticeable change in the pace of the market over the next few years due to the increasing demand for and supply of new homes.

“Modern homes not only make an ideal primary or secondary residence but are also a great long-term and rental investment. Some of these homes could attract a rental yield of between 5% and 6%.

It will only be a matter of time until Valencia becomes as internationally known as Barcelona and Madrid.

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Spain’s Bouncing Back

Spain’s Bouncing Back

 

We’ve become aware of increasing demand for properties in Spain over the past few months as we are now receiving one or two enquiries a day (much lower than the 2007 peak but higher than the 2012 low). Most of these are for Valencia area… and the coasts.
Please do let us know if this market interests you.

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The value of your H O M E

You want to increase saleability, improving your property always would be a good investment and add value. Here are 10 home improvement tips..:

  1. Redecorate and make simple upgrades
  2. Makeover the kitchen
  3. Add or update bathrooms
  4. Garden appeal
  5. Are the windows up to scratch
  6. Does the layout of your home work
  7. Replace or spruce up tired-looking doors
  8. Would a loft conversion solve space issues
  9. Be energy efficient
  10. Consider creating a driveway

…because spring finally in the air and for some home owners it’s time to start thinking about redecorating or even putting their property on the market, as the new selling season gets under way.

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Valencia – Spain ……..Hotspot – Valencia and Spain’s Golfing Sector Update

……..Hotspot

Hotspots in Spain. Between Valencia and Barcelona are several – ……. more and more overseas buyers.

 

‘The influx of foreign buyers is, in part, down to a growing demographic of savvy younger buyers who are purchasing for both investment and lifestyle. We’re seeing many fewer retirees and more CEOs, entrepreneurs and self-employed who want the flexibility to work from home.’

 

‘The age range of our typical buyer has come right down in the last five years or so – they tend to be aged between 35 and 55, looking either for investment opportunities or for a lifestyle relocation, a trend which is seen continuing for many years to come. Confidence in the market and the Spanish economy is at its highest for some time and buyer have now all but disappeared. This is attracting high-end lifestyle investors to the market in ever greater numbers.

 

Valencia and Spain’s Golfing Sector Update

 

The Spanish Open is inspiring renewed interest in golf properties. The Spanish golf market began stabilising in 2017 according to KPMG. And golf tourism is important to real estate and other sectors.

 

‘The golf industry has been well established in Spain for more than 125 years, with the first club here founded in 1891. It plays an important role in the country’s travel and tourism offering, as well as impacting on other sectors, such as housing. There are several excellent Golf Courses in the Valencia area.

 

‘Andalusia has more golf courses than any other Spanish region, with the Costa del Sol being home to nearly 70 courses and clubs. Known as the ‘Costa del Golf,’ it is one of Europe’s largest golf resort clusters, featuring a range of internationally renowned facilities. The spring and summer months are always a popular time for golfers to consider buying a second home in Spain and the just-concluded Spanish Open has helped to stir up interest in golf properties.’

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Spanish Prime News, Valencia

Villasvalencia News report:  In General..:   that the average price of a property sold  is up by 18 per cent year-on-year to €924,000 from €780,000. Sitges and Marbella and the Costa Brava and the Province of Girona lead the way, but the Valencia region is still one of the favoured one due to it’s soft climate and less rain than in Catalunia.

 

‘International second home buyers have been the most active with notable increases in the numbers of UK buyers returning to the market – accounting for 50 per cent of our sales in the region and 75 per cent of our prime property transactions in the first quarter.’

 

‘Confidence in the market and the Spanish economy is at its highest for some time and buyer concerns over Catalan independence have now all but disappeared. This is attracting high-end lifestyle investors to the market in ever greater numbers. Spain’s GDP growth is projected to grow by 2.2 per cent in 2018, surpassing the growth forecast in Germany, France and the UK. Higher employment, rising disposable incomes and stronger consumer confidence are all facilitatory to property market growth.’ Buying in this sector? Do let us know what you require..?

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Highest Property Price rise in 1o years

Valencia: Highest property Price increase. The property prices in Spain increased almost 5 % over average in 2016,
the highest since 2008 when the increase was almost double.
Overall figures for 2016 released by the National Statistics Institute show new property prices increased almost 7 %
while second-hand homes did so by almost  5 %. This is the third consecutive annual price rise since 2014
and the largest after the property bubble bust  2008, when prices dropped by upto almost 14 % in one year.

In the Valencia region prices increased by almost 2 % on average and a study released claims the price of a
second-hand property in Spain is now more than  € 100.000 less than 10 years ago. In the Valencia region,
prices for the same kind of properties have dropped from € 195.000 to € 104.000 .

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IT’S TIME TO BUY….N O W…… specially Valencia….

A new report from Tinsa, over in Spain, suggests that prices have risen again; for the second quarter in a row. The average property price in Spain rose by 1.4 per cent year-on-year to the end of Q1 2016. That is the second quarter of annual growth. Catalonia and Madrid lead the way with 8.2 per cent and 7.0 respectively. The Balearics at 3.8 per cent and Castilla-La Mancha at 3.5 per cent are next.

 

It comes as CBRE predicts a countrywide average rise of 5.95 per cent in 2016. Madrid, Barcelona,  specially Valencia and the Balearic Islands are tipped to be the best performers. CBRE also predicts a 40 per cent rise in resales and 35 per cent in new home sales with new-build supplies running low in the most popular locationsfarnals

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Valencia: Brits buy older or resale homes…..

‘Brits are turning their backs on new build properties in favour of older, resale homes. We’re seeing a trend in Spain right now for British buyers opting for resale properties instead of new builds. Resale properties now account for 76 per cent of sales, compared with just 24 per cent for new builds. While there is still interest in new build developments from Scandinavian and Belgian buyers, the Brits are all about the resales right now.’

 

‘Many British buyers are looking for dual purpose properties when it comes to purchases in Spain. In the immediate term, they want a great holiday home that also has the potential to earn income as a holiday let. In the longer term, they want somewhere that can act as investment for their golden years, either as somewhere to escape to for a life in the sunshine or as somewhere that will grow their capital so that they can sell it to fund their retirement.’

 

‘There was a time when British buyers flocked to new build developments in Spain. But the financial turbulence of the past decade has had an interesting impact on British property purchases in Spain. Confidence is back and the market is growing at a healthy pace, but the type of property that buyers are seeking has definitely shifted. The attractions of sparklingly brand new homes have given way to the warmer appeal of more homely properties. Location is key too – buyers are focused on the closest airport and beach, the nearest shops and other local amenities.20151217_100716

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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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