Costa del Sol Property Blog

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In a recent article in thisismoney.co.uk it has been reported that British lenders are allowing property owners to re-mortgage their UK properties to fund property purchases abroad. To date this has been common amongst Scandinavia clients, but it is a positive sign to see British lenders doing the same. But the article is also a bit of a PR piece, I have tried to only include the salient points below. For the full article you can find a link at the bottom.

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Just found an article by Mark Stucklin reporting that it appears that the Spanish property market might have bottomed out. Although Andalucia still is down, as I reported recently, it is good to see that there has been a pick up in resale properties and the drop in due to lowering new build sales. Anyway, please find the article below.

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I have just been reviewing the latest statistics by the Instituto Nacional Estatisticas (INE), and the signs of the market bottoming out continue. Total property transfers throughout Spain (mainland and islands) During the month of March, the number of property transfers was 168,532, that is, 0.5% less than for the same month in 2009, and 1.1% higher than the figure recorded in February 2010.

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The following information is supplied by the National Institute of Statistics (INE) for the fourth quarter of 2009.
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I recently read an an article in the Sur in English, which talked quite positively about British looking to buy in Spain. They recently attended a property exhibition called “A Place in the Sun” held at the NEC in Birmingham. Although smaller than previous exhibitions in the UK, “A Place in the Sun”, backed by the TV programme of the same name, held a successful show with a large turnout of people looking at overseas properties.
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Why Move to Spain?

With the ever increasing costs of living in the United Kingdom and the many negatives that people are facing in their every day lives, it is not surprising that thousands upon thousands of people are emigrating to a country that offers them a better quality of life.

Spain is the top destination for British people looking to emigrate and one of the most popular areas they very often choose is the Costa del Sol.
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The latest quarterly property index has just been released by Spain’s Statistics Institute (INE). I have included all the pertinent information from the document below.
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According to Spain’s national institute of Statistics (INE) the collapse in property sales may be coming to an end. Based on the latest figures from July (link below), there were a total of 37,079 property transactions in the month, of which 33,694 were standard sales and 3,345 were social housing (VPO).
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Even in these times of uncertainty, Spain is still attracting people from all over Europe and further afield due to its climate, culture, etc… But what to do once in Spain? The lucky few retire and live a life of idle luxury that has helped give the Costa del Sol the moniker of the “Florida of Europe”. The rest of us have to work though! For this article though I am going to look at those who plan to run a business in along the Costa del Sol.

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A while back I wrote this article, which can be found on the Buyer’s guide page, but I thought I’d put a copy here as well for general reading.
If you are looking at buying a property on the Costa del Sol, please read the summary I have written. I hope that this will help you avoid many of the problems that people face and allow you to have a successful purchase. Please note this is a personal recommendation and should not substitute for professional legal and/or fiscal advice.
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