Property News in Spain

Property News in Spain
Daily updates on the Spanish property markets for both investors and people wishing to relocate.

Property Management Spain
Property for sale in Pruna Spain
Experience the authentic feel of typical rural Spanish pueblo in Pruna. There are numerous bars and several restaurants where you can relax with nice glass of wine plus there are shops in which to browse, and In spite of being in the country, Malaga, Seville and Jerez airports, plus the beaches of the Costa Del Sol, are only one hour 20 minute drive away. The Costa De La Luz, as yet unspoilt, around the Cadiz area, is a similar distance. Ronda with its fascinating shops and spectacular gorge, Zahara, a listed Pueblo Blanco, in the heart of National Park, offering magnificent walking, bird watching and fishing opportunities in the turquoise lake, plus numerous other quaint and picturesque villages with mountainous scenery to discover and explore are within an hours drive away. Slightly further a field but accessible for a day trip are places such as Granada, Cordoba and Gibraltar for a complete contrast of Spanish life Pruna actually comes under the province of Seville. It is a short drive - just 5km from Olvera The impression I get of Pruna is that it is a more of a working town than some of the other villages. Being of a population of just around 3000 people it is a quieter more low-key place. It does however have adequate amenities such as shops, restaurants, school etc. There are lots more properties coming on the market in Pruna and prices are often cheaper in Pruna than the nearby white villages although lately prices are rising and work out only marginally cheaper than Olvera. Country house with a good amount of land are again cheaper round here and the surrounding countryside is very beautiful. Country houses are becoming harder to find. The houses in Pruna ooze potential and so many original rustic features. The price tags means you can spend a good amount of money and do exactly what you want.
Five-Star Luxury in Marbella
Playing golf in your room or using a private elevator are luxuries few of us can afford. Only the rich can enjoy a night in a hotel costing 3,750 euros a day. JUST over a year ago, the King and Queen of Sweden visited Marbella for a party organised by their friend Gunilla von Bismarck. They have no embassy on the Costa del Sol to stay in, of course, so they opted for the next best thing: one of the many "grand luxury" five-star hotels in the Marbella area. Their choice was a private villa in the Marbella Club, the first luxury hotel in the municipality, each with its own private swimming pool, five bedrooms and 300 square metres of private living space set in semi-tropical gardens. This is hotel accommodation fit for a king. It does not come cheap. At 3,750 euros a night, one needs to have a royal salary to stay there. Or to be Pierce Brosnan or Lenny Kravitz, who like to stay in this type of hotel while on the Costa del Sol because it is also a safe refuge from the paparazzi photographers. Marbella continues to be synonymous with luxury in Spain, and its outward expression is in its luxury hotels. Cost is the key element here: one can stay in the new five-star hotel designed by famous architect Frank Gehry for the Marqués de Riscal wine company in Alavés, considered one of the most exclusive in the country, for three times less than in some hotels in the Marbella area. If one is not entirely happy with the exquisite service in the Marbella Club, one can head down the Golden Mile to the Gran Melía Don Pepe Hotel, where a night will cost 2,800 euros in one of the presidential suites. Here one can relax in presidential luxury looking out over the Mediterranean, or soak in the jacuzzi, have a drink in the private bar followed by a siesta in the Balinese bed on the private terrace or play a round of mini-golf without leaving the suite. Or one might have decided to stop along the way and drop into the Puente Romano Hotel instead, to take a private elevator up to the Imperial Suite. This overlooks the beach, and has a hall, sitting rooms, bedroom and private terrace. The decoration is Mediterranean in style, with high ceilings reminiscent of classic Greece, and touches of chic that make the price of the room a bargain at only 2,600 euros a night. Among the many rich and famous personalities to have stayed here are Italian film actress Gina Lollobrigida, French actor Alain Delon, Elizabeth Taylor and singer Tom Jones. There are less expensive places to stay in Marbella, without skimping too much on luxury, and one of them is the Los Monteros Hotel. Here one can stay in the Ambassador Suite, for example, which measures 89 square metres and costs only 1,010 euros a night, or one could go down-market and opt for the Spa Suite at 750 euros for the night. This has pressure showers, a hydro-massage bath and a Turkish bath, all very necessary to relieve the stress of not being able to afford anything better.
Cheap property in Spain
It might not surprise you to know that Barcelona is the most expensive place to buy property in Spain, but what about the cheapest? The place to snap up a bargain is in the little-known Andalucian province of Jaen. In the "Big Picture" monthly report carried out by the leading Spanish property portal - Kyero.com - the average price of a property for sale in Jaen was almost seven times cheaper than Barcelona. Over 49,000 properties were sampled and the national average property price came out at ?240,000 (£162,967). Barcelona, along with Ibiza and Mallorca, were the only places to top the half a million euro mark, compared to a mere ?77,000 (£52,298) for Jaen, 68% below the national average. So what makes Jaen so cheap? Is it a culture-free dust bowl? Does the province have unseasonably bad weather? Is it a concrete enclaved inhospitable, modern town? The answers are all "no". The city of Jaen, situated 92km (57 miles) north of Granada, has been inhabited since 600,000 BC (by the Flintstone-esque "Pebble" Culture!). It boasts a Moorish castle, 11th century Arab baths and a 16th century cathedral and palace amongst its points of interest, and the thriving university adds a youthful element to this historically important area. The weather, as with the rest of Andalucia, is mild and has contributed to the economic success of Jaen's major asset - olives. Jaen is the world's leading producer of olives and olive oil, producing about 10% of the world's olive oil. The crop occupies 77% of the land and the oil is manufactured by around 55 oil mills. The region also boasts numerous national parks and nature reserves, including the Sierras de Cazorla nature park, arguably one of the most beautiful nature parks in Andalucia. Since the beginning of 2006 Jaen has found itself in demand from property purchasers seeking a slice of "real Spain" and even featured on the popular TV programme, A Place in the Sun in May. The town of Alcala la Real, just 25 minutes drive from Granada, is the province's main property hotspot. With a population of just over 21,000, there are plenty of amenities, such as schools, restaurants, bars, doctors and swimming pools as well as striking scenery and a friendly local community. Some properties in the region have experienced price appreciation of up to 60 per cent in recent months and demand has recently intensified. The region of Andalucia itself attracts Spain's largest number of tourists, receiving 14 per cent of the country's 50 million foreign visitors every year. The rural tourism market is up and coming and Jaen accounts for 7 per cent of Andalucia's tourists, with 490,000 visitors every year. This has led to an increasing demand for rental accommodation not only from foreign holiday makers but also Spanish nationals, especially from Madrid, seeking a rural holiday. So what's wrong with the place that makes it so inexpensive to buy? Well because it's inland, there are no beaches. Swimming pools - yes, sand and wet wavy stuff - no. It also doesn't have an international airport. However, Granada is only 90 minutes drive away from the city of Jaen and both Ryan Air and Iberia fly from the UK to Granada from about £70 return. And don't forget for all ski lovers, that the Sierra Nevada mountain range is just outside Granada, so within day trip reach.
A View of Ronda
Ernest Hemingway said the ideal spot in Spain to witness a bullfight for the first time was in Ronda. He was guaranteed the best seat in the house on his many visits to the Plaza del Toros. As was another fan of bullfighting, film director Orson Welles. Had they been at the peak of their careers today they would no doubt have wanted to buy an apartment with a permanent view of the oldest bullring in Spain. Clever men though they were, they would have had their work cut out. Such a property is as rare as a safe driver on the streets of this ever popular tourist destination. Ronda is blessed with views. The mountains and the gorge are the most photographed. Then there is the bullring, a building that oozes character. It is easy to see why Hemingway and Welles spent so much time there. It has the feel of a spiritual retreat and out of the high season it can, perhaps surprisingly, be the quietest spot in Ronda: a haven of peace and tranquillity despite the amount of blood that has been spilled there over the years. Ronda has always considered itself to be the home of bullfighting. In 1775, Pedro Romero was the first matador to display his skills there. Today, its 5000 seats are more likely to be occupied by extras on a film set than by spectators at an actual bullfight. Such events have been banned in some areas of Spain. But other towns and cities are defying politically correct thinking and building new bullrings. Today, the greatest danger to tourists and house hunters alike comes not from a stray bull but from the humble motor car. Plans to only allow into Ronda cars owned by residents cannot come a moment too soon. Here is a place that is crying out for further pedestrianisation. Considering how low the bullring is, it is surprising that so few buildings overlook it. Offices above bank headquarters and local restaurants have a bird's eye view of most of the ring. Some apartments above the Hotel Royal also look out on to the historic sight. However, one coming on the housing market is almost as rare as an actual bullfight in Ronda today. It is not so much the bullring that potential residents wish to see from their windows but the adjacent Alameda del Tajo (Promenade of the Gorge). This is a wonderfully designed tree lined avenue where locals and tourists alike take a stroll to witness the panoramic view of the surrounding countryside. Without question, this is one of the most consistently enjoyable views in Spain. The Tajo was completed in 1806 courtesy of monies raised from fines imposed on those who foul mouthed in public. Today the serene surroundings are likely to leave you speechless. In order to overlook the bullring you would have to live on the road that dissects the city, the Virgen de la Paz. It is a very central location for all that the city has to offer, but is by no means the prettiest area of Ronda. There is no shortage of property for sale all within ten minute's walk of the bullring. Some are being sold at low prices not seen in much of modern day Spain. For example, A&B are selling a home in the Padre Jesus area of Ronda for just 114,000 euros. Living here means a steep walk up into the centre of the city but you are away from the tourist coaches and have many splendid countryside walks on your doorstep. It has three bedrooms, a courtyard, central heating and air conditioning. It has splendid countryside walks on its doorstep. The historic fountain of eight spouts is across the road from the house - very handy should your water supply be cut off! British people who have bought in Ronda will tell you that the city is not blessed with a great deal of modern day culture. When friends are due to arrive from the UK they are asked to bring with them the latest books and music. Concerts and theatre performances are few and far between in Ronda and residents travel as far as Seville to satisfy their lust for culture. It is clear that there is a price to pay should you wish to have a permanent and memorable view in Ronda. There are many vantage points from which to savour this city and the surrounding countryside. The best view of the bullring though is from within its Neo-classical walls. A good idea would be to buy one of the cheaper homes in the less touristy areas of Ronda and then enjoy the scenic walk to the Plaza del Toros. Choose your seat, pull out your copy of Death in the Afternoon and understand why Hemingway was so in love with this historical arena.
The Sun Shines on Andalucia
British holidaymakers may know Spain's southernmost province best for the Costa del Sol, but a string of sophisticated cities, timeless white-walled villages and stunning mountains await the more adventurous. When Franco needed to drive foreign currency into Spain during the 1960s he created a stretch of coastal holiday resorts we now know as the Costa del Sol. Its heart runs between Málaga and Marbella and encompasses the infamous Torremolinos and a swathe of tourist towns, which to this day remain heavily populated by north European holidaymakers and ex-pats.

Derided in more recent times for their gauche over-development, many of these resorts have been given a fresh face to rejuvenate their appeal. At the eastern tip remains the anomaly Gibraltar, a little piece of Britain clinging incongruously to the southern Spanish coast.

However, the Andalucían region offers extraordinary diversity. Picasso's birthplace Málaga is remarkably untouched by tourism. To the north Seville and Córdoba contain stunning architectural landmarks, as does Granada in the east, along with winter skiing in the imperious Sierra Nevada.

To the west is a windsurfing Mecca around Cádiz, there is sherry capital Jerez and eco-destination Huelva - all emerging as alternative attractions, while the dramatic Pueblos Blancos pander to those with a taste for white-walled towns hugging precipitous mountains.

For sun lovers the region has always held strong appeal, although in the interior during high summer it can be hellishly hot and most city residents decamp to their nearest coastal resort every weekend and for most of August.

An efficient motorway network links the major towns and cities although the deficiencies of public transport make a car essential for those planning something more ambitious than a one-stop beach holiday or city break.

However, major capital expenditure on the railways is promising dramatically shortened journey times between Málaga, Seville and Madrid in 2007 and with it real estate agents predict that Madrileños will flock southwards.

Andalucía's climate has made it famous for olives and 20% per cent of global olive oil production comes from this region alone, with Jaén at its centre.

Not surprisingly seafood plays a big part in the cuisine and no beach is complete without sardines being grilled over open coals. Fresh fruit and vegetables are grown throughout and the Moorish influence of neighbouring Africa stands out in the citrus fruits, nuts and spices available.

Andalucía arguably serves up the broadest range of Spanish bar snack tapas and the region is also famous for the delicious cold soup gazpacho.

The warm climate means that Andalucíans love a cold beer as much as a glass of wine but the quintessential drink is sherry, produced in Jerez where the majority of the world's biggest labels are based.

The huge injection of northern Europeans attracted to the region comes at a price to those wishing to invest. While there are still bargains to be had in the mountains, a short drive inland from the coast, costs have skyrocketed over the past decade and along the coast villa and apartment prices compare expensively with other European resorts.

Spaniards are by tradition apartment dwellers in the cities, so for those seeking an urban experience these types of homes are most likely to be available.

The coast offers both apartments and villas although location dictates price. Villa homes in the interior are more reasonable and partial to complete remoteness is easily achievable. Meanwhile, to the east next year's opening of the extended coastal motorway will dramatically improve the links to Almería and Murcia, boosting property prices in the region.

However, the building boom has also spawned badly planned urbanizations and seemingly no villa with unspoilt views is entirely safe from the prospect of 30 new homes being built on its doorstep.

It is also worth remembering that increased competition in the holiday let market makes choosing a good location essential - so if you spot a bargain buy make sure that it really is good value.

Story from timesonline.co.uk

Wednesday, September 13, 2006 Life on the Costa VerdeHugging the northern coastline from west to east, much of the Celtic-influenced Green Spain has a wet climate familiar to northern Europeans. But a diverse collection of provinces, including resurgent arts centre Bilbao, plus Rioja country give it a special appeal. If ever a building reinvented a city then the Museo Guggenheim is it. A northern industrial town of little note, Bilbao has become a major tourist attraction simply for its architecturally stunning arts museum, making it a hot city break destination.

The capital of the separatist Basque Country, Bilbao is however far from the only highlight of a small but fascinating area of Spain which manages to conjure up one of Europe's great wine regions in La Rioja (a wine that dominates the shelves of Spain), a beautiful coastline, a green interior and a corner of the Pyrenees.

The region is also known for the crazy annual bull run festival in Pamplona while for those with a taste for the finer things in life, seaside town San Sebastián serves up the best regarded bar snack tapas in Spain and the much-lauded Basque nouvelle cuisine.

Indeed San Sebastián boasts not only a stunning setting around a half-moon cove, with green hills as a backdrop, but also an old town teeming with bars and restaurants offering a vibrant nightlife.

Bilbao to its west has also rediscovered how to party after two decades decaying as an industrial relic. With the Guggenheim has come a new and dynamic attitude which makes this city one of Spain's hippest places to visit or simply hang out.

Further west is Cantabria, one of Spain's smallest provinces and a continuation of the verdant Basque scenery, with beautiful coves, green rolling hills and tiny fishing villages. Indeed both landscape and climate are reminiscent of parts of the UK.

Port town Santander may not be a highlight of the region but is a setting down point for ferry routes from Plymouth, Poole and Portsmouth, which put it within 24 hours reach of England without the need to jump on a plane.

Neighbouring Asturias is a similar and small region, notable for the elegant city of Oviedo and the internationally renowned jagged fissures of the Picos de Europa mountain range, just 15km in from the coast. Small but perfectly formed, they offer great outdoor pursuits.

Galicia, the most north westerly area of Spain, meets the Atlantic with force and the ocean brings with it rain at any time of year. The Celtic history remains evident and Galicians have revived their language in recent years, with many street signs given in both Galician and Castilian.

Although much of the interior has been affected by deforestation, the region still contains the religious and architectural landmark Santiago de Compostela. The cathedral is the town's main attraction but its surrounding squares and plethora of monuments make this a must-visit destination.

La Coruña to the north is Galicia's busiest business centre and is an attractive if unspectacular port town with some nice beaches. It is home and headquarters to one of Spain's most successful exports, fashion store group Zara.

The most easterly of Spain's green belt provinces is Aragón, a region with borders to France, the Basque Country, Catalonia, the Castilian heartlands and the Mediterranean Valencia province.

What Aragón serves up is a rich tapestry of castles, mountains and stone villages and the province is home to some of the best of the Pyrenees, with walking and skiing in abundance.

Further south and the central plains give way to sparsely populated countryside punctuated by fascinating villages and striking monasteries and castles. The major town of the area is Zaragoza, a likeable if unspectacular city whose population has been boosted by a gradual country to city drift. Improved rail links promise to boost the city's economy.

Heading towards Valencia and Teruel is the south's most striking stop off, a hilltop town full of some of Spain's most ornate Mudéjar monuments. Property-wise the Costa Verde is easily the best value of the Spanish Costas although it comes without the guaranteed sunshine of the others. However, price rises are outstripping the rest of Spain, albeit from a lower base, and homes in Roman town Lugo in Galicia jumped an amazing 37.6% last year and was Spain's top performer.

Full Story from travel.timesonline.co.uk

Tuesday, September 12, 2006 Buying to Build in Andalucia Given that the average property price in Spain is now €240,000 and increasing at approximately 11% per annum, it is no surprise that more and more people are considering the lower cost option of buying a plot of land (parcela) and building their own dream property, or having it built, instead of purchasing an existing finca or buying a newly built villa in Spain.

To keep up with this demand, property agents such as 1 Casa, are offering a wide selection of plots, some with planning permissions and building permits included, for sale. Cristina Sanchez of 1 Casa, comments, "We have seen a significant rise in interest from buyers of land only. People are still keen to find their very own piece of Spain but not everyone can afford the increasing property prices - buying a plot of land with a view to building your own property in the future is a cost effective option for many. You also get what you want as you want it."

The cost of land varies considerably in Spain depending on the province, from 40 to 120 euros per square metre, and building costs range from around 300 to 700 euros per square metre depending on the quality and location. Although building your own home is not always hassle-free there are advantages as individuals can choose their perfect location, the design and finish of their home, and be assured of the quality of the materials and workmanship.

As with any property purchase abroad there are certain things to consider. Cristina offers some top tips on buying land for development:

When starting your search think carefully about location. Which province do you wish to live in, do you want to be near to a village, town, the beach or the mountains? What is the access like, are there good roads, how far is it from the airport? Is there any public transport? Don't just get swayed by an amazing setting, think of the practicalities.

Do your research - having a good knowledge of your local market is essential so that you pay the right amount for your land. Talk to local residents, officials and agents for advice.

As with any property purchase, appoint a good Spanish lawyer. They will be able to help you check the land use status, sort out taxes, get a building permit and arrange a build contract.

Choose the right plot. Spanish property law contains some differences depending on province; in Valencia for example the effects of the LRAU have caused some residents serious problems. Andalucia does not suffer the same fate but avoid this potential problem by finding out whether the plot has got or will be granted planning permission. Approach the urbanismo department of the local town hall with your lawyer and view the Urban Plan. This will tell you if the plot has any building restrictions in place, is in a green zone or has any public access routes. Also remember to check future plans for the area as this may affect your property positively or negatively. Check with agents that they are offering a plot with permission for a house and not just an agricultural building.

Get a survey. This is standard practice in the UK and I would urge any buyer to do the same in Spain. Your land surveyor will measure the exact number of square metres of the plot. Compare this to the land register to ensure that the official measurements and boundaries match up.

Check the owners registry. It is not uncommon in Spain for some plots to be inherited by more than one party. Check to see if the vendor is the only person with the rights to sell.

Budget for additional expenses. Costs such as architects fees (from 6-10% of the build cost),aparejador (project manager who oversees the build) fees (1-2%), building permit (4-5%), the declaration of new building (0.5%), safety study (0.8%), geological report (1% if required) and a first occupation permit (0.5%). Depending on location there may also be the cost of extending utilities such as water, electricity, gas and telephone lines.

1 Casa are currently offering buyers the opportunity to purchase a 168m2 plot in stunning Alora, Malaga with full planning permission and building licences in place for 3 luxury apartments covering 417m2 in total for only £180,200 / €266,300. With projected construction costs of 600 euros per square metre and selling prices in the region of 1900 euros per square meter there is a real opportunity to gain from this investment. Also on offer is an excellent plot of urban land in Benito Suarez, Alora, with full planning permission and building licence in place for 5 apartments and several car parking spaces (there are currently none available in the area). The 207m2 plot, priced at £173,400 / €255,000, has fantastic potential with no other opportunities of a similar nature anywhere nearby.

Win a home in Spain
Although the date for existing Charlton season-ticket holders to renew their place at The Valley has now passed, there are still plenty of incentives to secure a seat in SE7.

The good news is that there is no price increase following the expiration of the season-ticket deadline on June 2nd.

And both supporters who renew their season ticket plus new applicants still have the opportunity to win a dream holiday home in Spain.

One lucky season-ticket holder will win a Spanish apartment - worth more than £50,000 - courtesy of club sponsor and property firm Llanera, and even have the opportunity to select their own interior fittings.

Every supporter who buys a 2006/07 season ticket and correctly answers a Charlton question will be entered into a special prize draw to win the holiday home.
The most common mistake made by foreigners buying in Spain.
"They rush," said Stucklin, who owns spanishpropertyinsight.com, an advice Web site, and writes a column for The Sunday Times of London. "People go on an inspection trip for two or three days and they expect to come home with a property."

Buying property in Spain is considered relatively easy. There are few restrictions on foreign ownership and a time-tested system is in place to aid the process. But horror stories abound.

Last year dozens of buyers lost their homes in Elche, south of Alicante, when the local government declared their houses were built without the proper permits - a fairly common practice by unscrupulous developers.

Up the coast in Valencia, homeowners are fighting what they call a "land grab law," which allows local governments to seize land and to impose fees to support new developments. While it is an extreme case, similar laws exist throughout the country.

In many ways, the Spanish property market can be a minefield, especially for investors enticed by the consistent double- digit annual increases in property valuations. Many analysts say the era of huge annual price increases may be ending, although buyers have heard that before.

Last year alone, house price increases typically ranged from about 8.4 percent in Cataluña to 16.2 percent in Valencia, according to government statistics - an enviable increase by any standard.

Given those statistics, buying-to-rent may sound like a no- lose situation to some investors. But, "if you can't afford to buy without rental income, I wouldn't do it, end of story," said Allan Young, a partner of TAG Wealth Management, a financial consultancy in Sheffield, England.
A second bite at the cherry of success
There are two main reasons we head for southern Europe - climate and lifestyle. On a relaxing holiday, however, the idea of doing business there would never cross our minds.

Obviously business does get done, it's just that the cultures of countries like Spain and Italy tend to hide it better, making work part of a larger picture, rather than allowing it to dominate the day. However, perhaps it's the influence of the British, but some cities are becoming increasingly like the UK in their working hours, instead of taking their famous long lunches and finishing mid-evening.

The informality of Spain, for example, does not always translate into business, foreign visitors are expected to be punctual, even though they may be kept waiting. Making appointments can be something of a task too, enquire well in advance and get written confirmation. For those who choose to live and work in Spain, or anywhere in southern Europe, there can be UK-bred frustration at the length of time it takes to get action, or even a decision.

However, the reality is that an increasing number of British people are being attracted to the life in Spain, particularly if their business lends itself to remote working anywhere. With an increased choice of air routes, the distance to friends and family is lessened and the opportunities for working within Europe and beyond are even greater.

Musician and composer Ged Grimes moved from Dundee with his wife Tricia and sons Jack, 9, and Sam, 2, to Coin, a small town in Andalucia last year. It was a lifestyle choice, but the global reach of technology has eased the transition. Grimes had to move a full studio to Spain, and communications with existing clients was paramount.

'The internet has made it possible to work remotely, but the infrastructure is not as developed inland as on the coast.' Another aspect which is set to help communications long term is that at the moment, their closest airport is being expanded, and in 2007 the high-speed train will connect Malaga to Madrid in a little more than three hours.

Borrow for a Second Place in the Sun
From Bordeaux to Barcelona and Budapest to Bulgaria, British holidaymakers in their thousands are falling for foreign second homes.

Buying abroad has gained momentum in recent years, as homeowners dream of retiring in the sun or investing in countries with profit potential. Some 250,000 Britons own a property outside the UK.

But while finding the right property at the right price might be relatively easy, how should you pay for it? Many people simply tap into savings or remortgage their first home and pay cash up front. This is by far the cheapest and simplest method if you have equity in your current home in Britain, as long as you bear in mind currency conversion costs. Since large deposits are often required on purchases - sometimes up to 40 per cent - buyers could remortgage to pay this and then take out a loan for the balance.

But if you want to take out a mortgage in the country where you are buying, how do you go about it? Several UK lenders provide loans on overseas properties through their international divisions. Some of these lend only in sterling, while others will lend in the currency of the country if you prefer. Most specialise in key eurozone countries such as France and Spain.

Simon Conn, managing director of Conti Financial Services, says: 'Most clients should borrow in the currency they are earning, but those who buy properties in popular countries like Spain and Portugal and then rent them out tend to arrange their mortgage in euros. This is so they can offset their euro rental income against the loan repayments.' A further attraction of euro loans especially is that they are significantly cheaper than sterling deals. Conn says: 'Interest rates are typically 2.5 percentage points less at the moment.'
Touching 60 and opening the throttle
Retirement is being redefined by the "baby boomer" generation which is abandoning an afternoon's gentle gardening or conundrum-solving with Des Lynam for adventure sports, exotic travel and personal re-invention.

Trends show that those born in the "baby boom" between 1945 and 1963 are "retiring" from full-time employment only to take on a new career or to raise grandchildren as "granny nannies".

The old-fashioned notion of retirement is becoming obsolete. In fact, those in retirement say they are busier than ever.

Too Young To Retire, a best-selling book published in America, sums up this shift, saying retirees want to "rock the boat instead of the chair".

Howard and Marika Stone, its authors, said they came to the realisation that retirement was a great place to visit - "but who in their right mind would want to live there?"

They created a website - 2young2retire.com - and encouraged others to stay in the workforce after 65. Their book includes 101 ideas for jobs to pursue including cake decorator, computer tutor, ghostwriter, nanny, park ranger or wedding planner.

"Call it retirement if you insist," they say, "although renaissance or renewal are more accurate. If you are like the majority of people, your next life will include one or more of these - community service at a high level, a retirement career that uses experience and skills, or a retirement business that lets you express your talents and values."

Research in Britain published today shows a big shift towards living abroad and starting a new life.

Half of all people over 50 have seriously thought of moving abroad to live a cheaper life in the sun, fuelling a trend which has seen spending on properties overseas increase by 45 per cent in four years.

Forty-six per cent of people aged 50-69 have thought of "packing it in" and living abroad, a figure that rises to 50 per cent among men.

British families have put more than £23 billion into overseas property, with most of that invested in Spain, France and Cyprus, although increasing numbers are turning to Canada, the Caribbean and New Zealand and even Egypt.
Spanish property draws new generation of retirees
Not least because of A-Day and the government's reforms relating to property investment through Sipps, people are approaching retirement in a much different way than was once common.

Buy-to-let investment is extremely popular with those now in their 40s, 50s and 60s while property investment in general is increasingly appealing as a means of supplementing a retirement income.

A report in the Telegraph yesterday drew attention to a new book titled Too Young to Retire and the sentiment that runs through this publication appears to be the same thing that is driving so many people to take an interest in property.

"The old-fashioned notion of retirement is becoming obsolete. In fact, those in retirement say they are busier than ever," writes social affairs correspondent Sarah Womack.

Howard and Marika Stone, the authors of the book, even contest the very premise of the term "retirement".

"Call it retirement if you insist, although renaissance or renewal are more accurate. If you are like the majority of people, your next life will include one or more of these - community service at a high level, a retirement career that uses experience and skills, or a retirement business that lets you express your talents and values."

Given the Brits' notorious passion for property, it is unsurprising that many are turning to property as their "retirement business", while many more are simply heading abroad for a more exciting or just more relaxing lifestyle.

Hotel For Sale Luxor
This hotel for sale in Luxor, Egypt is a modern hotel situated near the Nile, some 350 metres from Luxor Temple and Museum, and 15 kilometres from the airport. The 55 air- conditioned guestrooms are spread over four floors and have simple modern decor with wicker furnishings. All guestrooms open onto balconies and include satellite television, minibars, direct-dial telephones, and bathrooms with designer toiletries.
After a dip in the pool, hotel guests can relax with a drink at the poolside bar. The Restaurant is a buffet restaurant, serving continental and middle eastern food in a relaxed atmosphere. The Bistro Restaurant, situated in the foyer, serves light meals and drinks. After a meal, guests can chat over drinks in one of the bars, or take advantage of round the clock room service. The hotel has laundry facilities, and multilingual staff at the 24-hour front desk can exchange currency and advise on local amenities and attractions. Guests can visit the Luxor Temple and Museum 350 metres away, or the Karnak Temple three kilometres away. Luxor International Airport is 15 kilometres from the hotel, with an approximate driving time of 20 minutes.

Facilities:
Restaurant
Swimming pool
English style pub
Laundry service
Telephone and fax service (International)/Conference room.
Baby Food
Gift Shop
Bamboo styled, private balconies
Telephone
Color T.V
In-house video
Satellite T.V. channels

Area Activities:
Luxor Temple & Museum - 350 metres
Karnak Temple - 3 kilometres (2 miles)
Valley of the Queens - 25 kilometres (16 miles)
Valley of the Kings - 28 kilometres (17 miles)
Land In Spain
Land for sale in Spain

Prime building development land available in southern Spain. Interested parties are invited to contact us via email in the first instance: info@lemontreevillas.com

Puerto Banus Land For Sale Spain - Ref: L012
Plot size 6,732m2
Techo 10,203m2
Construction for underground parking
Commercial ground floor
5 Levels for apartments possible up to 100.
The plot is direct from the owner, the architect is licenced and a project would be passed in approximately 6/8 weeks.

San Pedro Land For Sale Spain - Ref: L014
Surface area approx 30,000m2
Techo 55,000m2
Build surface area 18,000m2
This site is in the centre of San Pedro and on the main N340. Permission already granted to demolish and rebuild existing site.
Parking underground
Ground floor commercial
2 Level, 3 Level ,and 4 Level apartment blocks.
It has a Tinsa valuation guaranteed.
51% of the site can be brought.leaving 49% for another developer.

Algeciras Land For Sale Spain - - Ref: L017
A plot of 10,000,000m2 with 4,5 km of beach front.
There are 4 escuturas for the site so easier for division.
This is in a very good position especially for the new fast ferry to Morrocco and views over to Morrocco.
This is direct from the owners and we are awaiting for confirmation on quantity of build area.

Malaga to Cordoba Land For Sale Spain - Ref: L018
A plot of 3,700,000m2 and only 20 minutes from Malaga.
This site is destined for Golf Course and approx 3500 vivendas.

Aloha Nueva Andalucia Land For Sale Spain - Ref: L019
Two new villas approx buld 300mtrs each with pools.
7 villa plots included.
4 have views toward the mountains.
5 have sea and mountain views.

Benahavis Land For Sale Spain - Ref: L022
Surface area 10,797m2
Techo 6,877m2
Clarification Suelo Casco Urbano for 44 town houses
Egypt Real Estate
Spanish property agent - Lemon Tree Villas, prepares the way for property investors in Egypt. Trading in Egypt under the name Elite Properties Egypt they have recently opened new offices in the ancient city of Luxor to cater for the rapidly increasing demand for residential and commercial development properties from both European and North American investors.

"Interest in the investment property market in Egypt is beginning to awaken as the wider world becomes aware of the incredible investment opportunities and incentives available for investors in Egypt." Says Peter Jennings of Elite Properties Egypt.

The key factors attracting overseas investor interest include Egypt's fast growing tourism sector, the fact that the government is continuing to commit to legislative initiatives designed to enhance the investment climate and the fact that property prices in Egypt remain low and affordable whilst demand for quality property for sale and short term let is increasing.

The majority of real estate investment interest is currently centred upon the resort areas of Egypt and the major cities like Cairo, Luxor and Alexandria.

"In the resort areas on the Red and Mediterranean Sea coasts property investors are tapping into the increasing tourist demand for short term rental accommodation." This market is currently returning the best rental yields countrywide.

The second home resale market in the resort areas is also beginning to present profit potential on the underlying capital investment made because more overseas buyers are seeking holiday homes or second homes in these areas. Egypt is close at hand for European holidaymakers and therefore owning a holiday home in this exotic location makes perfect sense for many European travellers.

In Egypt's main cities like Cairo, Luxor and Alexandria overseas property investors are again seeking to profit from rental returns, and with the creation of brand new luxury residential property districts like Cairo Heights, international interest is increasing.

Overall the future prospects for the property market in Egypt are positive. Egypt is a politically stable country and one currently enjoying the best relationships with many of the world's most influential economies that it has ever enjoyed. The economic climate in Egypt is open for investment and investors are being actively encouraged by taxation breaks, low labour costs and a country that has a growing middle class who are beginning to exercise their increased purchasing power.

Overseas real estate investors are aware that the growth in the purchasing power of the domestic market is fantastic for the long-term profitability of all investments in Egypt's property sector. The overseas tourism and second home markets will account for good yields and returns but a growth in domestic demand and purchasing power will allow investors to more aggressively target Egypt safe in the knowledge that they have a wider market to potentially profit from


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