Spain: Still one of the favourite destinations. Strong Enquiries

Having waved goodbye to what was a relatively tough year for the global property market, Kyero.com's latest analysis of the forever popular Spanish property market highlights some interesting findings, identifying that foreign buyers will continue to look for bargain properties focusing in Spain's best known areas.

Kyero.com's enquiry report analysed almost 130,000 enquiries made by email during the second half of 2011 showing that between July 2011 and December 2011 47.3% of enquiries for properties in Spain sat within the £50,000 to £100,000 price range.

Further statistics show that across Spain 31.6% of enquiries made wanted an apartment while 32% desired a 3-bedroom property. Meanwhile, unsurprisingly over half of enquiries - 55% - requested a pool.

Marc Pritchard, sales and marketing manager at Taylor Wimpey España, commented: "The Kyero.com report provides an interesting insight into what buyers want from Spanish property. In 2012 it is important to look at trends in buyer behavior and the interest generated regarding Spanish property to identify how to grab the attention of this year's property buyers."

Pritchard continued: "Indeed, the findings show that by province, Alicante and the Costa Blanca remain the favorite locations for foreign property hunters accounting for nearly 35% of enquiries according to Kyero.com's findings while Malaga in the Costa del Sol followed behind with 14.4%. With this in mind, we at Taylor Wimpey España feel we can meet the needs of customers not only because many of our properties are located in these popular areas but because we can deliver on property type and budget as highlighted in the report."

Source IEAT

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Spain: Spain set to sizzle in 2012

A recent survey by TravelSupermarket has shown that more than one in ten Brits plan to travel to Spain for their main holiday in 2012. And this isn’t a new trend as 13% of the 5,187 UK adults we asked visited Spain in 2011.

Spanish breaks were most popular with those in northern and Scottish cities this year with 20% of those surveyed in Edinburgh visiting the country for their main holiday, 19% in Glasgow and 19% in Newcastle. However, it looks like the country is set to be a hit with Nottingham’s inhabitants in 2012 as 19% of the adults asked hoped to go on holiday there next year.

So, where else is set to sizzle in 2012?

The flying PIIGS

Last year, TravelSupermarket predicted that the PIIGS (Portugal, Italy, Ireland, Greece and Spain) would be popular destinations among British holidaymakers and we were correct. Not only did 13% of the survey respondents visit Spain but a further 6% travelled to Portugal or Italy.

Our travel expert, Bob Atkinson, thinks that the PIIGS’ popularity will continue in 2012 as, despite their economies suffering from the Euro debt issues, the countries are offering great-value breaks. He said: “In tough economic times Brits often return to known quantities, so this will drive an interest in these destinations. Once Brits see the great offers available, they’ll be flocking to these ever-popular countries.”

A tough time for the METTs 

The METT destinations (Morocco, Egypt, Turkey and Tunisia) have had a tough year and our survey results show this. Despite 3% of those surveyed travelling to Turkey to take advantage of cheap all-inclusive packages in 2011, only 2% plan to travel there in 2012.
And, due to the Arab Spring, both Egypt and Morocco have seen a decline in visitor numbers. Just 1% of Brits plan to travel to Egypt in 2012 compared to 2% who took a trip there in 2011.

TravelSupermarket predict that 2012 will continue to be a slow year for these countries. Our travel expert Bob Atkinson said: “There has been some damage to the reputation of these countries but given a lot of the tourist destinations remained untouched, it is well worth keeping a look out for bargains in Morocco, Egypt and Tunisia throughout 2012.”

SLIMMAs to shine

The SLIMMAs (Sri Lanka, Indonesia, Mexico, Malaysia and Argentina) are set to be next year’s dark horse and a World Travel Market report tipped these nations to do well. Bob Atkinson agrees and said: “Our poll has shown that none of these destinations received more than 1% of British tourists last year – but I’d keep an eye on them as these could be the surprise winners if 2012 as they look to attract more and more UK tourists.”

Staycations: there’s no place like home

With so many exciting events such as the Olympics taking place in the UK in 2012, many Brits are likely to take their big break closer to home. And, although only 30% of our survey respondents have said that they plan to stay in the UK next year, this number may well rise as households tighten their belts even more. In 2011, 40% of Brits took their main holiday in the UK.

The 2012 top 10

The results of our survey show that the top destinations for holidaying Brits will be:
1. UK – 30% of people plan to holiday closer to home.
2.  Spain – 11% expect to enjoy the Spanish sun, sea and sand.
3. Europe (other) – 9% hope to take a break in a European destination other than in the UK, Spain, France, Portugal, Italy and Turkey.
4. USA – 6% want to enjoy an all-American experience.
5. France – 5% plan to hop over the English Channel to France.
6. Asia – 3% want to go to a longer-haul destination in Asia.
7. Caribbean/Mexico – 3% hope to enjoy the Caribbean and Mexican weather.
8. Italy – 3% plan to experience la dolce vita in Italy.
9. Portugal – 2% want to sip port and enjoy the Portuguese laid back way of life.
10. Turkey – 2% hope to visit the crossroad between Europe and Asia.

TravelSupermarket’s additional hot picks for 2012

• Poland and Ukraine – both countries will be appearing on our TVs when they take part in the European Football Championship over the summer. We predict that Poland will prove to be particularly popular with Brits looking to take short city breaks.
• Iceland – both easyJet and WOW will add more air links to Iceland next year. This coupled with cheap prices will make the country a popular destination for travellers wanting to experience the Northern Lights and those looking for an activity-filled short break.
• Vietnam – the country will no longer just be a destination for backpackers as the first direct flights to Hanoi and Ho Chi Minh City will begin on December 8 from Gatwick.
• Brazil – in the lead up to Rio’s Olympic Games in 2016, the country is set to increase in popularity.

Source Travel supermarket

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UK: Student accommodation market increases by 120%

Investment in student accommodation has surged in the past year, according to a new report from CBRE. The research reveals that the market has increased by a remarkable 120 per cent, with a total of £863 million invested in student accommodation in 2011 alone.

The number of students from the UK applying for university this year has fallen by almost 8 per cent, according to UCAS, as students are deterred by the increase in tuition fees to £9,000 - three times the current fee level. But the property sector has seen investor applications rise considerably since 2009, increasing by over 100 per cent in the last two years.

Commenting on the 7.6 per cent decline in applicants for September 2011, UCAS told the Guardian that it is "too early to make predictions about the eventual demand for places for this autumn". While students may seem reluctant to pay for higher education now, the impending rise in tuition fees had the opposite effect in 2010, driving students into universities to avoid the hike in cost. Indeed, after applications decreased in 2006 following the last fee increase, the next two years saw figures rebound by 7.1 per cent and, in 2009, by 10 per cent.

Now, the occupancy rate for student accommodation in the UK is at 99 per cent, says CBRE, with the conutry's growing rents increasing yields for investors by 5 per cent in London and 4 per cent nationwide.

"Student accommodation is more attractive than many other asset classes in the current climate and we have seen increasing interest from relatively new parties seeking to diversify their portfolios," the CBRE report adds.

Indeed, with the number of student applications from outside the EU increasing by 13.3 per cent and the buy-to-let market continuing to grow, university halls are set to become even more crowded.

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Spain : Spanish VAT reduction extended and is on holiday homes

The condition excluding newly-built holiday-homes from VAT reductions appears to have been dropped.

When the Socialist Government introduced a VAT reduction on new homes sold last year, from 8pc to 4pc, the People’s Party, then in opposition, promised to extend the reduction to the end of 2012, but only on primary residencies up to a certain price.

But now that the PP are in power it appears that they have dropped these conditions, which can only be good news for holiday-home buyers looking to take advantage of the crash in Spain’s new home prices.

The decree extending the VAT reduction to the end of the year, published in the official Government bulletin (BoE) on the 31st of December, made no mention of any extra conditions, meaning that VAT on all new home sales, whatever their use and value, will only be charged at 4pc during 2012.

Source Mark, Spanish Property Insight


Lydnem comment


Great news!! All new properties (not registered previously) will only face 4% IVA (VAT) instead of 8% until the end of 2012. This is very good news for the new build properties but also for the market as a whole as it draws attention to it. Dont miss the best properties and best mortgage facilities while they are still available and the Bank of Espana allows the banks to offer high loan to value properties


CLICK HERE  for some great examples

USA: Property prices set to end the year down

Residential property prices in the United States continued to drop towards the end of 2011 with the latest figures from CoreLogic showing that national home prices fell 1.4% in November, the fourth monthly fall in a row.

On a year on year basis prices, including distressed sales, fell by 4.3% compared with November 2010, the information and analytics company’s November Home Price Index also shows.

This follows a decline of 3.7% in October 2011 compared to October 2010. Excluding distressed sales, year on year prices fell by 0.6% in November 2011 compared to November 2010 and by 1.6% in October 2011 compared to October 2010. Distressed sales include short sales and real estate owned transactions.

‘With one month of data left to report, it appears that the healthy, non distressed market will be very modestly down in 2011. Distressed sales continue to put downward pressure on prices, and is a factor that must be addressed in 2012 for a housing recovery to become a reality,’ said Mark Fleming, chief economist for CoreLogic.

Including distressed sales, the five states with the highest price gains were Vermont which was up 4.3%, South Carolina up 2.8%, District of Columbia up 2.1%, Nebraska up 1.9% and New York up 1.7%.


Including distressed sales, the five states with the greatest price falls were Nevada where prices were down 11.2%, Illinois was down 9.7%, Minnesota fell 7.8%, Georgia was down 7.7% and Ohio down 7.2%.

Excluding distressed sales, the five states with the highest price increases were Maine and South Carolina, both up 4.9%, Montana up 3.8%, Indiana up 3.3% and Louisiana up 2.4%.

Excluding distressed sales, the five states with the biggest price drops were Nevada which was down 8.8%, Arizona down 4.9%, Minnesota down 4.7%, Idaho down 4.1% and Georgia down 3.6%.

Including distressed transactions, the peak to current change in the national HPI from April 2006 to November 2011 was -32.8%. Excluding distressed transactions, the peak to current change in the HPI for the same period was -23.1%.

Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 77 are showing year on year declines in November, three fewer than in October.

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Croatia: Set to join EU

The former Yugoslav nation of Croatia has wrapped up its accession talks with EU officials, and should become the Balkans' first member of the bloc by mid-2013, a move that is sure to boost values for property owners.

As the last round of discussions came to a close yesterday, EU Enlargement Commissioner Stefan Fuele said the body was pleased with Croatia's efforts to reform its economy and political system since it broke from Yugoslavia. "In 20 years of independence, Croatia has changed tremendously", Fuele told reporters in Brussels. "It has made impressive progress in meeting EU membership criteria. Today, this has been rewarded." 

The next step for the country is the signing of an Accession Treaty, which will be drawn up by the end of this year. It will then have to be ratified by all 27 existing EU member states before Croatia can officially become part of the bloc on its planned accession date, July 1, 2013.

Lydnem Comment

EU membership is good for countries such as Croatia. It makes it easier for non Croatian's from other EU countries to live and work for and they get a lot of aid as a country. It is more debatable for more developed countries such as the UK who seem to just put money in and not take it out.  A positive for property investors in the country 

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Spain: Property has reached the bottom BBVA

At the end of last year, chief investment officer at the private banking division of BBVA Enrique Marazuela told the Reuters Global Wealth Management summit that the housing market in coastal regions of Spain is starting to recover in terms of transaction volumes.

Though Marazuela said that new wealth creation should not be expected in the short and medium term in Spain, he said that some areas of Spain’s battered real estate sector were close to reaching a bottom in valuations.

Property on Spain’s coasts, where the market is largely driven by British and other European second-home buyers, has already stabilized, he said.

“Now what we have seen is that the houses on the coasts . are starting to recover not so much on prices but in transaction volumes and that is coming from European citizens that want to have a second house in Spain.

Source Bancaja

Lydnem Comment.

For some time now we have thought that the Spanish market is at or near its bottom. it is hard to say exactly when the bottom occurs, it doesnt ring a bell, as they say. There is a glut of property held by the banks but even they say that a third of it will never sell as it is rubbish. We feel that this figure is conservative, very conervative. We see what they have and it is only good for demolition. So with a property market near or at its low it is time to seriously look as the best properties sell first. Also, a recent surge in sterling against the Euro has reduced sterling prices by around 10% in recent months. Take a look HERE or tell us what you are looking for by completing this FORM and we wil send you properties fitting your criteria. Act now while the banks still offer good mortgage loan to values, it will not last!! 

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Turkey : Istanbul prices are surging as buyers remain hungry for turkey after Christmas

Photo credit: Erman Akdogan

Istanbul property prices are surging as buyers remain hungry for Turkey after Christmas.

Values of prime houses in the Turkish capital are rising, according to figures released by Castle Research. "Strong demand for apartments" has driven up prices, says the Turkey Real Estate Investment Outlook 2012 report, with developments proving increasingly popular over the past nine years: in 2003, off plan properties were selling for US $1,500 per square metre; now, those figures have skyrocketed, with real estate fetching $10,000 per square metre.

"No matter how you analyse it, those price increases represent significant market strength," Castle said, adding that the data only represents that top end of the market.

Indeed, Turkey is starting the year in a position of strength, as international buyers keep up their taste for Turkey's property, ready to either resell for profit or rent out and capitalise on the market's buy-to-let demand. Even Turkish companies are making a move toward the capital's real estate, adds Castle, where rates of return are now "higher than they earn on their bank deposits".

Visitors are getting greedy for Turkey, too, with tourism figures also heating up. According to Xinhuanet, the country's Culture and Tourism Minister predicted last week that they will welcome 32.5 million tourists in the coming year. As foreigners keep gobbling up accommodation, it is no surprise that the economy is expected to continue expanding, albeit at a slower rate, with 4 per cent growth forecast by the government for 2012, following last year's boom of 7.5 per cent.

Turkey's coast is seeing the highest number of tourists, becoming stuffed with real estate developments ripe for consumption. This glut of feasting has led to some resale values declining due to an overcrowded plate, but investors that bought before 2005 "are enjoying solid gains", Castle finds, while current buyers can still find rental yields of 5 per cent in popular hotspots.

Meanwhile, in the capital, apartment blocks are seeing rents jump by up to 10 per cent per year, with gross yields firmly in double figures. There was a decline last year in UK and North European buyers biting at Turkey's real estate, but Castle's report reveals that there is a "steady interest [from British and Scandinavian investors] at the upper-middle price bracket, and also from young professional British buyers at the low end of the market."

Christmas may be over, but as Turkey remains piping hot at the beginning of 2012, investor appetites are set to get even stronger.

Source The Move Channel

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USA: Hottest housing markets for 2012 in USA....depends on who you ask.

As the new year begins, the lists of the top housing markets for 2012 are out. The primary economic sectors driving the majority of the “top” housing markets are military bases, large medical centers, large universities and educational facilities. Technology is a major force in some specific cities, such as San Jose, CA and Salt Lake City, UT. And in the midwest, a boom in farm prices is driving housing prices higher.

Check out this list of hottest markets from Realtor Magazine. Most, if not all, are closely associated with military bases, hospitals or universities.

The “hottest” housing markets are based on data such as the anticipated increase in prices, which is generally the most common benchmark used. Texas has cities on virtually every list, with military bases, the oil industry and education the major driving forces there.

Here are a few more of the “hottest housing market” lists for 2012:


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5 Of The Best and Worst for 2012 from MSN

Bloomberg’s list probably has a more balanced approach with their detailed analysis of pricing trends leading into 2012. The trends are not quite so rosy as some lists would have us think. But they do confirm that a rebound and even a little boom is underway in the midwest, driven by rising crop prices.

Wherever you are located, one thing is for sure, every city and town is a housing market unto itself. While major factors such as interest rates and monetary policy can affect the entire nation, the factors that drive home sales activity are pretty much a function of the local employment picture. The better the jobs are locally, the better the housing market is locally.

In spite of the fact that unemployment is still hovering near record levels, cities that have the best job market locally will also tend to be the areas where home buyers are more active, and home prices will tend to rise.

If you are a landlord with rental property, the same theme holds true. Landlords in those markets where the local economy is adding jobs at a faster pace than the national average will be in better shape to cash flow in 2012.

Whether you are a builder, an investor or a home buyer, it’s important to keep the local market economics in mind when making real estate decisions. If you choose the location of your next project, or the location of your next home near the primary sectors driving the local economy, the chances are that your property will be more likely to appreciate instead of losing value.

The 3 primary sectors driving the U.S. economy at present are military, Education, Healthcare. If your local market has a strong presence in these three sectors, it’s a pretty good bet that 2012 will be a good year, even if you didn’t make any of the “hottest market” lists. 

Source Donna Robinson

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UK: property hotspots for 2011

Two new surveys by Zoopla and Halifax look at the towns and cities where prices rose the most last year.

Two new surveys have looked at the property hotspots of 2011 across the UK. Woking in Surrey topped Halifax’s annual report while Wigan in Lancashire headed up property website Zoopla’s list.

Let’s take a look at the two surveys and their methodology in turn.

Halifax survey

Halifax looked at 130 towns across the UK using mortgage offers from its own house price database.

It says that, on average using those calculations, UK house prices fell by 4% between December 2010 and 2011. And the average UK house price in 2011 was £172,400.

Here are the 10 towns that have experienced the highest price rises, according to Halifax:

Town	Average house price 2010	Average house price 2011	Annual change
Woking	£257,590	£299,654	16%
Falkirk	£113,422	£126,548	12%
Ipswich	£151,448	£165,749	9%
Inverness	£154,369	£168,580	9%
Portsmouth	£139,200	£150,901	8%
Crewe	£124,994	£132,873	6%
Worthing	£205,390	£218,269	6%
Bridgend	£118,551	£125,936	6%
Enfield	£229,240	£243,421	6%
Rugby	£150,422	£159,076	6%

Halifax says both Woking and Falkirk’s proximity to big cities – London and either Glasgow or Edinburgh respectively – were major reasons why prices continued to grow.

Kettering in Northamptonshire and Dunfermline were the towns where prices fell the most – by 15% in both cases. Prices in Hartlepool dropped by 14%, while there were drops of 13% in Ayr, Belfast and Ashford in Kent.

Overall, 28% of the towns surveyed saw some increase in house prices over the course of 2011.

Zoopla survey

Property website Zoopla examined price changes across Britain’s cities (note that it doesn’t have prices for Northern Ireland) using its price estimator tool, which crunches various numbers to produce an estimate of house prices.

It says that the average price in Britain was down by just 0.38% in 2011, or £84.

Here are the top 10 best-performing cities, according to Zoopla:

City	Average house price 2010	Average house price 2011	Annual change
Wigan	£125,460	£132,517	5.62%
Aberdeen	£201,070	£209,706	4.30%
Ipswich	£178,642	£185,508	3.84%
Cardiff	£182,547	£188,955	3.51%
Edinburgh	£220,515	£227,516	3.17%
Dundee	£144,469	£148,315	2.66%
Plymouth	£162,595	£166,887	2.64%
York	£215,352	£220,595	2.43%
Bournemouth	£219,073	£224,315	2.39%
Cambridge	£302,848	£308,914	2.00%

The worst-performing cities were Newcastle, with a drop of 5.51%, Leicester (4.61%) and Bolton (4%).

Scotland was the only one of the three nations to record an average price rise, with prices going up by 6.73%, well above the British average. By contrast, prices in England fell by 0.75% and in Wales by 0.11%.

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