Clifford & Partners Costa Blanca Property Sales
Clifford & Partners Costa Blanca Property Sales
Property News
The price of second-hand housing continues to be at a record high and rises by 7.5% in June
2 July 2024, 9:12
The price of second-hand housing in Spain registered a 7.5% year-on-year increase during the second quarter of the year. This increase leaves the square metre at 2,138 euros, according to the latest idealista price index. Looking at the quarterly variation, prices have increased by 2.9% in the last three months. With this price, Spain reaches a new all-time high.
For Francisco Iñareta, spokesman for idealista, "the main problem that the real estate market currently has is none other than the lack of available supply. The lack of new construction in the buying and selling market is pressing. Few municipalities have dared to develop land in the last 15 years. This lack of new homes means that all the weight falls on second-hand housing, which is not able to absorb current demand and puts upward pressure on prices. In addition, the lack of product also weighs on the number of operations that are closed and the number of mortgages granted. It is necessary to take measures and speed up processes for promotion, especially in the most stressed markets."
Seven capitals mark house prices at highs in June
All Spanish capitals have increased their prices in the last 12 months, except in Pamplona, where they fell by 1.1%. Malaga leads the rise in prices, after rising by 19.9% in the last year. It is followed by Alicante (16.9%), Valencia (14.7%), Santander (13.7%), Soria (13.6%), Madrid and Santa Cruz de Tenerife (12.4%, in both cases). Among the large markets, prices have also risen in Palma (9.4%), Seville (7.5%), Barcelona (7.2%), San Sebastián (5.2%) and Bilbao (4.1%).
San Sebastian is the most expensive Spanish capital (€5,461/m2), followed by Madrid (€4,514/m2), Barcelona (€4,430/m2), Palma (€4,114/m2) and Bilbao (€3,301/m2). On the opposite side of the table, we find Zamora, the cheapest capital, with a price of 1,154 euros/m2
A total of seven capitals mark their all-time highs. These are the cities of Madrid, Barcelona, Palma, Malaga, Cádiz, Valencia and Las Palmas de Gran Canaria
All the Autonomous Communities register increases in house prices
Prices have increased in all the Autonomous Communities during the last 12 months. The highest increase has been recorded in the Canary Islands, where owners' expectations have increased by 15.4%. Also with double-digit increases are the increases in the Balearic Islands (10.7%) and the Valencian Community (10.3%). Behind are the increases in the Community of Madrid (9.5%), Andalusia (8.2%), the Region of Murcia (7.2%), Cantabria (6.9%) and La Rioja (5.6%). Catalonia registered the lowest increase, with 1.5% year-on-year, followed by Galicia, Asturias and Castilla y León (3.2% in all three cases).
The Balearic Islands continue to be positioned as the most expensive region, with 4,379 euros/m2, which is the highest price since idealista has records. It is followed by Madrid (3,440 euros/m2), which also registers its all-time high. In third position is the Basque Country (2,918 euros/m2) followed by the Canary Islands (2,592 euros/m2). On the opposite side of the table we find Castilla-La Mancha (941 euros/m2), Extremadura (991 euros/m2) and Castilla y León (1,192 euros/m2), the cheapest communities.
Property News
Spain, the best destination in the world for teleworking
31 July 2024, 6:01
At a time when opportunities for flexible working continue to dwindle, the options for working as a digital nomad continue to grow. This year, popular destinations such as Greece, Italy, Japan and Thailand have added programs for digital nomads, in an effort to attract foreign talent. But this year Spain has positioned itself as the best country for remote workers, according to a new digital nomad report by global consulting firm Global Citizen Solutions.
The firm, which focuses on helping clients identify citizenship and residency-by-investment programs, evaluated the options currently available by analyzing both current legislation and expert opinions. Its data covers five main categories: visa costs (application costs, income requirements), visa benefits (duration, possibility of extension, path to citizenship), quality of life (healthcare, safety, pollution, climate), economy (cost of living, tax optimization, coworking desk price), and technology/innovation.
The best place to be a digital nomad, according to the report, is Spain. Several factors propelled Spain to the top spot, including a new startup law aimed at boosting the country's entrepreneurial ecosystem, zero taxes on income earned abroad, affordability, availability of high-speed internet, and an ideal environment for technology and innovation.
Nine of the top ten countries are in Europe, including a few surprises. The Netherlands and Norway, in second and third place and almost equal in score, are fixed in this type of list due to their high standard of living and optimal health, education and social services. Nonetheless, high living costs are a major challenge, according to the report.
Estonia and Romania, however, had an impressive evolution. They boast a more affordable lifestyle with excellent access to nature and a rich cultural scene. The only non-European destination in the top 10 is Canada, ranking eighth. The country announced in 2023 that it was working on a new strategy to attract tech workers.
"The most notable aspect of the report is the dominance of European countries," said Patricia Casaburi, executive director of Global Citizen Solutions, in a statement collected by Bloomberg. "In addition, it is surprising that 91% of the 65 active programs for digital nomads were launched after the onset of the covid-19 pandemic, demonstrating a rapid response to the shift to remote work."
Among other qualities that gave Spain and the Netherlands an advantage, in addition to the high quality of life, was the fact that they offer digital nomad visa holders a path to permanent residency that can eventually become citizenship.
Each country has distinct advantages. Estonia and Romania have made significant investments in technology, including world-class infrastructure for high-speed internet. And like other Eastern European countries that ranked in the top 20, such as Hungary, Latvia and the Czech Republic, they boast relatively low living costs compared to Western Europe.
Taiwan ranked No. 12 for the ease of its digital nomad visa system, which allows a stay of up to three years after approval, but requires you to work in one of eight specific sectors, including technology, education, finance, and law. Japan, which announced its program for digital nomads on April 1, was ranked No. 16.
High visa costs and required salary levels mean that regions such as the Middle East, including Dubai and Abu Dhabi, and the Caribbean did not rank as high in the index. The last places went to Antigua and Barbuda, Aruba and Grenada. Overall, Europe accounts for 35% of all digital nomad visas currently available, while the Americas make up 38% and Africa only 8%.
According to the report, nearly 60% of remote work visas are unbiased with respect to nationality or profession. "We have noticed that although the majority of digital nomads are nationals of northern countries, a growing number come from countries with weaker passports," Casaburi said. "These people are leveraging digital nomad programs to acquire permanent residency and citizenship in countries with stronger passports, significantly improving their global mobility."
Home buying in Spain to increase 7%–10% in 2024, according to donpiso
12 June 2024
Home buying in Spain will increase 7%–10% this year, according to the real estate brokerage company donpiso, which claims that since the beginning of March, there has been a significant increase in demand for properties in holiday destinations in this market.
With spring, the second home market picked up speed and the number of real estate transactions in Spain has soared in recent months.
Holiday destinations on the Mediterranean coast, the Cantabrian coast plus the Balearic and Canary Islands have seen a 30% increase in demand for properties.
The real estate agency donpiso points out that the drop in interest rates expected for this year will lead to increased interest in properties, which in turn will push prices up. It therefore recommends that buyers who do not require financing should decide to buy their homes as soon as possible.
donpiso is optimistic that mortgages will become cheaper in the short term because "taking into account that the average net monthly salary per inhabitant in Spain is around €1,700, Spaniards who live in rented accommodation spend 50% of their salary on rent, compared to the 38% that homeowners allocate to mortgage payments"
Growth and luxury: Thriving real estate scene on the Costa Blanca
By Anna Ellis • Published: 18 May 2024
Taylor Wimpey España, a British developer, reports a remarkable 40 per cent increase in housing reservations in the area compared to 2023.
This surge is fuelled by clients from 17 different nationalities, underscoring the rising popularity of the Costa Blanca for both residency and investment purposes.
The Costa Blanca’s upward trajectory mirrors the positive trends seen in the national real estate market.
According to data from the General Council of Notaries, February 2024 witnessed 53,142 home purchase and sale transactions, marking a 9.7 per cent year-on-year increase. Specifically, new home transactions surged by 20.83 per cent, accompanied by a 4.24 per cent rise in median home prices compared to the previous year.
These statistics align with Taylor Wimpey Spain’s findings, as the company continues its expansion in its primary areas of influence: Costa del Sol, Costa Blanca, and Mallorca.
On the Costa Blanca, Spanish buyers now account for 15 per cent of reservations, signalling a notable uptick in domestic demand within the region. Alicante holds the fifth position in Spain’s luxury real estate market, showcasing significant growth alongside the sector’s nationwide momentum, which boasts approximately 41,000 properties.
Notably, Alicante experiences particularly robust growth compared to other provinces.
In terms of market share, the Balearic Islands lead the ranking with 24 per cent, followed by Málaga (22.5 per cent), Madrid (12 per cent), and Barcelona (11 per cent). Alicante secures 10 per cent of the total market share, indicating a notable influx of real estate investment into regions that previously held marginal market shares.
The luxury real estate market in Alicante attracts substantial capital from abroad, although Spanish buyers remain prominent. European citizens, particularly from Germany, Great Britain, Sweden, Russia, and Switzerland, contribute significantly to this market. Additionally, there’s a growing trend of purchases by US citizens and, to a lesser extent, Mexican buyers.
Single-family homes, situated on beachfront or in mountainous areas, are the most sought-after luxury properties.
Buyers typically fall within the 40 to 50-year-old demographic, often holding executive positions in large corporations, seeking either a secondary residence or a holiday home.
Zetios Properties LLC: Real Estate In Spain In 2024
19 May 2024 4:01:11 AM
(MENAFN- eTrendy Stock) Purchasing a house in Spain in 2024 should be a very profitable long-term investment. This is what Zetios Properties LLC experts have to say about it.
According to the report by Zetios Properties LLC data analysts, in 2023, the total investment in Spanish residential Real estate amounted to approximately 15.2 billion euros, which corresponds to an all-time high of 16.077 billion reached three years earlier. And although in the last quarter the volume of home sales transactions in Spain decreased slightly compared to the same period in 2022, the onset of a housing crisis that creates financial problems should not be expected.
Moreover, Spain is still one of the most attractive countries for foreign investors. In 2024, most investments will be directed to the“build to rent” sector due to its significant profitability, as well as to luxury and single-family housing. The latest trend emerged during the Covid-19 pandemic, when single-family homes with land became a necessity for many buyers, and it continues to this day.
Mostly foreigners prefer the provinces located on the coasts of the Mediterranean Sea, as well as the Canary and Balearic Islands. In 2022, they accounted for a total of more than 80% of purchase and sale transactions involving foreign investors. These regions are also of interest to Spaniards who are considering buying a home there as an investment or“second home”, as well as for living after retirement.
According to the National Institute of Statistics (INE), foreigners make the most purchases in the province of Alicante – 19.4% of the total. It is followed by Malaga (12.6%), Barcelona (8%), Autonomous Community of Madrid (7.1%), Balearic Islands (6.8%), Valencia (5.9%) and Murcia (5.4%).
The top three among foreign investors are citizens of Great Britain (9.3%), Germany (8%) and France (6.2%). The former are mostly interested in housing on the Costa del Sol (Malaga, Marbella) and Costa Brava (along with French clients). At the same time, in 2023, the activity of the Dutch, Norwegians, Irish and Danes has increased markedly in the Spanish real estate market.
The expected decline in housing demand due to inflation and the rise in the cost of mortgage loans will affect the number of sales transactions more than prices – especially in provincial capitals and seaside cities. According to a number of forecasts, the number of transactions will not exceed 500,000, while in 2023 this figure was 630 thousand.
However, property in Spain continues to be valued above other assets, so the trend towards investing in it will continue for the foreseeable future.
Clifford & Partners Costa Blanca Property Sales
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