LIONS HOPE FOR THE PHILIPPINES

The Torrevieja Costa Lions Club are now in full stride with fund raising for those in most need in the Philippines, following the tragic outcome of Typhoon Haiyan. On Sunday 17th November the Lions in association with Sunshine FM hosted 6 hours of music, dance and entertainment at The Emerald Isle in La Florida.
 At very short notice Simon Morton Managing Director and Presenter on Sunshine FM pulled together a fabulous array of entertainers, including Dan Davy, Nik Gold, local X Factor winner Yasmin Dumbreck, Sunflower Valley, Matrix Studio, Raquel Pena Dancers,
The Jazz Singer Neil Diamond, and the super tenor voice of Paul Michael ably assisted by the falsetto voice of Simon Morton, Total Dance Group from Benijofar and an excellent Elvis Presley (Simon Morton style) performance to kept the audience enthralled into the early evening. With an excellent prize draw and the great generosity of the regulars at
The Emerald Isle the Lions were able to raise 1,609.36 towards their fund raising efforts.
On Wednesday 20th November The Lions promoted and hosted the Rogers and Hammerstein musical South Pacific which was performed by Footlights Theatre Group from Calpe to a full house in Teatro Municipal in Torevieja.
Originally the Lions had planned to donate any profits from the show to Reach Out, the Torrevieja Charity for the homeless and needy in Torrevieja, however the Directors of Reach Out asked that on this occasion that any profits are sent to help the Lions Hope for the Philippines Appeal.
The Lions agreed to accept this very generous offer from Reach Out, and have promised to return to Reach Out early in the new year to lend their support.
On the evening of South Pacific there was a prize draw and bucket collection for the Philippines raising a magnificent 808.07euros. Once all the theatre and Footlights bills are payed the Lions share of the profits will also go to the Philippines appeal
Coming up there are prize draws at various locations in the area, Lo Marabu Quesada, Post Box Quesada, IBEX Insurance La Zenia, Paddy's Point La Zenia, and Quesada Fish and Chips.
There are also fund raising fun nights in the following locations- Paddy's Point on Friday 29th November at 1900 hrs, Lo Marabu on Wednesday 4th December at 1800 hrs and O Sheas' on Friday 6th December at 2000 hrs.
As usual the Lions will be joining JB Brass at La Zenia beach on Christmas Day around 1145 hrs.

Source: theleader.info

Spain Says 4 Regions Posted Annual Property Price Increases in 3Q

Spain's government said Thursday that four of the country's 17 regions, including the Madrid metropolitan area, posted property price increases in the third quarter compared with the same period a year ago, even as overall prices in the country remained in decline.
In a press release, the country's development ministry said property prices in Greater Madrid, with over 10% of Spain's population, rose 0.3% on the year. The biggest increase, at 4.8%, was posted by the Balearic Islands, a relatively small region with a high percentage of foreign residents, particularly Germans. The other two regions with higher property prices, Navarre and Extremadura, are also among the country's smallest.
In Spain as a whole, the ministry said, property prices fell 4.5% on the year and by 0.5% from the second quarter. This is the slowest pace of decline since early 2011, when the country was sliding towards a double-dip recession that it only left behind in the third quarter of this year.
According to the ministry's estimates--which are similar but not exactly the same as those made by the country's statistics institute--Spanish property prices have fallen without interruption since the second quarter of 2008, and are down 29% in the period.

Source: online.wsj.com

Commercial interest in Spain is green light for investors

Once commercial investors return to the market it gives buyers a green light signalling growth is on the way and this is likely what is happening in Spain. Residential sales may still be lacklustre, but research from BNP Paribas Real Estate has shown Spanish property investment is on the up. Between the first and third quarters of the year, some €2 billion (£1.7 billion approximately) was ploughed into the commercial real estate market. Large portfolio acquisitions in retail made up a considerable proportion of this, followed by the office sector and hotel market.

Madrid and Barcelona were the main sites of investment, with the average value varying between €20 million and €40 million. Interest has also been increasing for housing portfolios - another sign the tides are turning for the residential market. Luis Martín Guirado, president of BNP Paribas Real Estate Spain, said: "The opportunities offered by Spain as a country go far beyond the success which it has justifiably achieved in fields such as tourism, sports and cuisine. So why do we believe that this year will be particularly favourable for real estate investment in Spain? We are seeing capital values for all types of real estate assets and the price of land at the lowest levels seen in recent years, representing a unique opportunity."

Valencia is another city worth targeting and alongside Madrid and Barcelona, it is expected the area will enjoy moderate but stable rents before growth returns in the future. Mr Guirado believes yield compression will take place, driving good returns for investors in all sub-sectors. However, it is unlikely this will occur until the second half of 2014, as improvement is dependent on the recovery of the occupational market.

Access to credit is also likely to remain a problem for all investors, be they commercial or residential. This means to capitalise on Spain's low prices, buyers need to come to the table in a strong financial position, with as much cash as possible. 

Source:  propertyshowrooms.com

Spanish Citizenship with Property Purchase attracts Foreign Buyers

Desperate times call for desperate measures, and last year Spain was so anxious for an economic quick fix that it was prepared to give away citizenship for a song.
For property purchases of a mere €160,000 (HK$1.7 million), foreign buyers would gain automatic residency, Trade Minister Jaime Garcia-Legaz announced in November last year. With more than 700,000 unsold houses remaining from the 2007 real estate collapse, and no sign of improvement domestically given Spain's 25 per cent unemployment rate, Chinese and Russian investors were targeted, he said.

The plan was widely condemned by other EU nations with higher entry levels - Spain was seen as "selling itself too cheaply", says Barbara Wood, director of The Property Finders, a property search company. But a year is a long time in real estate, and when the law was finally ratified on October 1, the threshold for residency had been lifted to €500,000.
Non-nationals also have to buy mortgage-free, and citizenship is no longer a given. The initial visa will be for two years and will be renewed if the property is still owned at that time. Application for citizenship will be allowed after 10 years.

What's changed, apart from international sentiment, is the real estate landscape itself. According to official data, residential sales volume increased by 2.3 per cent year-on-year in June - a modest jump, but a gain nonetheless. Purchases by foreigners increased by 28.4 per cent in the second quarter, making year-on-year growth for eight consecutive quarters.

Agents and developers anticipate that the relaxed laws on foreign ownership - known as the "golden visa" - will encourage a raft of overseas buyers. The €500,000 spend doesn't have to be on just one property - the amount is accumulative, so buyers can build a portfolio of two or more cheaper properties.
Lucas Fox, a Barcelona-based estate agency and Knight Frank's representative in Spain, has already noticed an increase in inquiries from Russian, Indian, Chinese and American investors. Furthermore, "sales have begun to rise more recently as British and Scandinavian buyers return to the market", the agency says.

Wood believes the previous 90-day visa was a disincentive to buy, whereas now non-EU citizens can come and go as they please. "I get the sense that even if the purchaser is not thinking about full-time residency now, they are thinking about somewhere safe to invest in property in case they do want or need to move," she says. "Western Europe is seen as a safe, stable environment, with good health facilities, good education and free movement within the Schengen Area" of common international borders.
According to Lucas Fox data, prices in some of Spain's most desirable areas have fallen up to 50 per cent since the property crash. By its reckoning, prices have bottomed out in some areas of Barcelona, the Costa Brava region, Ibiza and Marbella, while sales are up, by 13.5 per cent in Barcelona alone from January to May compared to the same period last year.

Alexander Vaughan, co-founder of Lucas Fox, says: "The first six months of 2013 saw further encouraging developments in the property market in prime areas of Spain. In all regions we cover, the numbers of offers and sales completed were significantly up on the same period in 2012."
The luxury property market is doing particularly well, primarily in Barcelona, the Costa Brava region, Ibiza and Mallorca, where the average sales price of properties sold by Lucas Fox in the first six months was over €1 million. In these key areas, the property markets are still being driven by international clients, Vaughan says.


Marc Pritchard, sales and marketing manager at Taylor Wimpey España, reports "staggering" increases in overseas buyers of its developments in Mallorca, Costa Blanca and Costa del Sol: 2,500 per cent more from the Middle East, and 300 per cent more from Russia and Lithuania from January to May compared to the same period last year.
Buyers are looking for new or modern, well-priced properties in a good location, Pritchard says. "With market prices currently at the level of a decade ago, clients are buying a second home for lifestyle reasons - a property to enjoy holidays with the family in a warm and nice area, close to the Mediterranean Sea."

Spain's housing market pain may be around for a long while yet, but the industry is taking heart from the latest 0.8 per cent price drop in the second quarter, the smallest drop since the fourth quarter of 2010.
Vaughan says Spain remains a buyer's market. "Even the best properties [are] transacting at 20 to 30 per cent below their peak prices, and sellers are increasingly open to negotiation on asking prices. Our advice to potential buyers is to focus on location and quality.
"There are some great deals to be had, and we think that in most areas - particularly Barcelona, the Costa Brava and Marbella - prices are at, or very close to, the bottom. We expect the trend of sellers lowering asking prices in line with buyer expectations to continue for at least the rest of 2013 and quite possibly the next couple of years."

Wood, whose Putonghua- and Cantonese-speaking colleague Pei Ching Eh deals with the Chinese and Asian markets, says inspection flights from China have been arriving for several months in anticipation of Portugal's "golden visa" law change, "and Chinese are buying".

"Spain is a much bigger market, better climate - I would expect much more interest," she says.
However, Wood cautions those not familiar with the market. "Just because something looks cheap doesn't mean it is a bargain. The market is still very price- and location-sensitive. In my opinion, prices in the non-prime locations and of lower quality still have not hit bottom and, although Chinese buyers will see what looks like incredibly cheap prices, they need to take great care - not everything is a good buy."

Source: scmp.com

Property Market In Europe Expected To Stabilize

The residential real estate markets in Europe are expected to stabilize over the next year. However, the housing market in France is forecaster to undergo further damage as the interest rates in the country continue to rise. Economists and real estate insiders in France say that the economic conditions are becoming weaker and housing affordability is limited as credit standards have become tighter and continue to decrease residential property prices in the country.

However, there are tentative signs pointing towards the achievement of stability in prices in other European countries. The next two years are crucial in determining the future of the continent, and the outlook appears good at the moment. As a matter of fact, market insiders expect improvements in every European nation excluding France.

There are many nations which are yet to deal with reeling housing markets following the burst of the real estate bubble. Countries such as Spain had experienced some of the hardest times recorded in modern history. Although prices are expected to go down by eight per cent in Spain and by around five per cent in Italy over the course of 2013, the decrease is set to slow. In other major European nations where residential real estate prices are on the rise, increases are set to slow as we enter into 2014.

Real estate activity to drive economic growth

According to many economists in the continent, a recovery of domestic residential property markets could prove to be a powerful source as economic activity in Europe seeks a boost. In addition to residential investment, even consumer spending will increase and eventually help domestic markets recover in due time.

However, France is expected to experience a further decline in property prices as stats suggest that the country’s residential values will fall to four per cent next year in comparison with three per cent this year. One of the main reasons as to why France may suffer is the country’s high expectations of attracting interest from the US and the UK. The laws in France are very strict and potential buyers are cautious about investing in the nation’s real estate market.

No hope for France just yet

The number of French home buyers has been declining over the years, and the taxes on real estate sales are expected to be revised next year, thus causing a further decline in interest. Housing prices in France have remained quite stable in comparison with other countries since the economic crisis unfolded in 2008. But sales are reducing more than prices.

Market insiders say that homes in France are still considered expensive by investors who are also scouring other European markets. Although France was thought to have dealt with the recession during Q2 this year, the growth of 0.5 per cent means that sustainability is still very far. Orders for residential real estate assets in the country are expected to decline in October this year as staffing level continues to decline at several real estate firms.

Source: property-abroad.com/

Should You Purchase a Used or a New Home?

If you are thinking about buying a new home you may be wondering whether you should be looking at used or new ones. There are a lot of different things that you'll want to consider since this is probably going to be a long-term purchase. Here are some of the things to think about when you're trying to decide between a fresh new home that has never been lived in versus a home that has already been occupied.

Nothing beats the smell of fresh new paint

Buying a new home is quite similar to purchasing a brand-new car. There's a smell that permeates the air and seems to change from one room to the other. Everything is fresh and new and sparkling clean! You know that you'll be the first owner and won't have to worry about any small dirt particles you see floating around. They are probably just building remnants left over by the construction crew.

If you have anyone in the house that has allergies or asthma, getting a brand-new house may be something that's best for health reasons. You won't have to worry about any lurking odors from past animals that have lived in the home or perfume bottles that may have spilled onto a piece of carpeting in the bedroom. You are starting with a clean slate and can preserve the home as an allergy-free one as long as you live in it.

If you're looking for a home with character

You may want to consider looking at older homes if you want one that comes with built-in character. Most recent homes just don't have the gentle charm that can be found in older homes. A lot of the newer housing is put up in a cookie-cutter type of fashion with one house looking exactly like the next one or at least having very similar qualities to it.

When you travel through one of the older and establish parts of town, you'll see a wide variety of homes that don't look anything alike. When you step into the properties, you'll be amazed to see some of the intricate features and room layouts in the house. Sometimes these homes are laid out in such a fashion that they become a maze and you don't know which room you will be stepping into next. True character is very difficult to find in a brand-new house unless you get it individually designed and constructed for you.

It's going to be your choice whether you want to settle into a new or used home. While you may have to make your decision based on your personal financial budget, in most cases it's just going to be a case of making your choice based on personal preference. There really is no right or wrong answer. You'll want to buy a home that you know will make you happy no matter what other people think and no matter who thinks you may be making the wrong decision. The right choice for you is all that really matters.

Author Bio

Joel Mayer is an Australian freelance writer and blogger. 
He writes about property and about companies like http://taylors.com.au/

If you are looking for new or a old home on the Costa Blanca then you need a reliable partner to find your dream home in the sun.

 

Cheap Spanish Propewrty prices drive sales recovery.

Recovering sales in Spain's regions are linked to lower house prices, according to a comparative analysis of data by Fotocasa. Indeed, falling values are encouraging buyers to enter the market once again, Kyero reported. Six regions in Spain avoided drops in sales during the last quarter, including the Canary Islands, Catalonia, Murcia, Valencia, Andalusia and La Rioja. The first five regions saw rises in sales of 16.2 per cent, 12.1 per cent, 9.5 per cent, three per cent and 0.1 per cent respectively, while La Rioja remained stable.

Fotocasa noted that these are largely the areas where Spanish property prices fell the most over the last year, the news portal revealed. Murcia, Catalonia and Valencia saw values decline by around 11 per cent, while La Rioja had a 16 per cent drop. Beatriz Toribio, head of research for Fotocasa, said: "This data demonstrates that, in the current context of economic crisis and tightening of credit by banks, the only way right now to get rid of the large housing stock that exists in Spain is to lower the price."

Nevertheless, this rule might not apply to popular holiday destinations, where second-home buyers and investors are snapping up modern, high specification builds. Competition in these areas is only likely to get more fierce too, as more and more people flock to Spain. Mortgage specialist Conti recently revealed that among UK buyers Spain is now the second most preferred destination, behind France. However, the gap between the two nations is closing. Indeed, 36 per cent of all enquiries received so far this year have been for Spain. This equates to a year-on-year rise of three per cent, while French property interest declined by two per cent, although it counted for 43 per cent of all enquiries.

What's more, Spain accounted for more enquiries than France during May, June and July of this year. According to Conti, this indicates that confidence is increasing and investors are in a strong position when buying in the country. Due to the number of homes available, it is possible to negotiate an even lower price than advertised with motivated vendors. 

Also see Cheap Property in Spain for sale

Moor Park Capital sells entire Banco Sabadell bank branch Portfolio to Mexican Investor Group backed by Moises El-Mann

Moor Park Capital LLP ("Moor Park Capital"), the London based specialists in European corporate finance led net lease real estate transactions for institutional and retail investors today announced that a group of Mexican investors led by Moisés El-Mann (the "Investors"), through the Mexican investment vehicle Branch Management, S.A.P.I. de C.V. ("Branch Management"), have acquired 100% of the share capital of the Spanish company ISC Fresh Water Investment, S.L.U. ("ISC Fresh Water"), owner of 253 bank branches in Spain, for a consideration of approx. EUR 290 million.

These bank branches, located throughout Spain with particular presence in Madrid and Barcelona, are let to Banco de Sabadell S.A. ("Banco Sabadell"), and represent one of the largest investments in the Spanish real estate market ever conducted by Mexican investors.

The bank branches have the benefit of a long term lease agreement with Banco Sabadell for an initial term of 25 years, put in place at the time the initial acquisition was closed by Moor Park Capital in April 2010, when 378 bank branches were acquired from Banco Sabadell. Since that time 125 bank branches have been successfully sold by Moor Park Capital to individual investors and the sale of the shares in ISC Freshwater completes the disposal process.
Moor Park Capital have been retained by Branch Management as exclusive asset managers for the acquired bank branch portfolio. Clifford Chance (real estate and corporate/M&A), Garrigues (tax) and CBRE Spain advised Moor Park Capital on the sale and Banco Santander acted as financial advisors to the Investors and Uría Menéndez advised the Investors in relation to taxation and legal issues.

This transaction represents the first investment of a major acquisition plan for real estate investments to be undertaken by the Investors in Europe.
The Investors plan to continue their real estate investments in Spain and Europe to convert Branch Management into a SOCIMI, the Spanish legal entity equivalent to a REIT (Real Estate Investment Trust) in the near future.

Source: businesswire.com

Only Olives From Spain Dares Tantalize Your Palette With All New Seamus Mullen Recipes.

Only olives from Spain and Chef Seamus Mullen unite to bring the Spanish olive to the forefront of the culinary and dining experience, raising awareness of the versatility of the product by unveiling exclusive recipes that will make anybody's mouth water.  This key ingredient in the Mediterranean diet, one of the healthiest diets in the world, is an all-around delight with so many varieties and ways to savor them.

Developed in conjunction with Olives from Spain, Mullen's recipes vary from simple, quick appetizers to sophisticated main courses, designed not only to be accessible and attractive to home-cooks and experts alike, but to showcase the many ways Spanish olives can spice up any meal or special occasion.  Dishes such as Dressed Olives and Mixed Olives from Spain with Ventresca Marinade can be made in minutes while Olive Crusted Wild King Salmon will give cooks the opportunity to impress and delight guests at their next dinner party.
"I've always loved Spanish culture and olives are an integral part of Spanish cuisine.  Not only are they easy to use and delicious," said Chef Seamus Mullen. "It's important for me to use ingredients that speak for themselves and really add taste to a recipe but also keep the dish nutritious and flavorful."
Chef Mullen's alignment with Olives from Spain marks a momentous occasion for foodies around the nation, enticing travel from near and far to experience these delectable recipes.  The love for olives doesn't stop here, with Olives from Spain available in more than 120 countries in the world, it's no wonder Chef Seamus Mullen aligned with the campaign.  Set as the global leader for olive cultivation, Spain accounts for 39 percent of the world's olive trade and holds the ideal climate for the crop's growth.  The initiative for Olives from Spain is led by Interaceituna, an Inter-Professional Table Olive Organization recognized by the Spanish Ministry of Agriculture, Food and Environment.
Tertulia will continue to highlight the alignment with Olives from Spain by serving olives for guests until the end of the year.  In addition, cooks from around the globe can bring the wonder of each special dish into their very own kitchen with online recipe cards created by Mullen himself. www.olivesfromspain.us
About Interaceituna and Olives From Spain
Interaceituna is the Inter-Professional Table Olive Organization recognized by the Spanish Ministry of Agriculture, Food and Environment. Created to implement different general interest programs and activities, Interaceituna promotes knowledge of the Spanish table olive and conducts research and development in order to identify improvements in the product and in the production techniques.
According to the International Olive Council (IOC), Spain ranks as number one in the world for olive cultivation with other Mediterranean countries lagging further behind.  Across the last six seasons, the world average of olive production weighed in at 2,371,000 tons – 25 percent of that production came from Spain.  In 2012, Spain accounted for 39 percent of the world's olive trade, mainly exporting to the USA, Italy, Russia, France and Germany. (Source: ASEMESA, table olive exporters and industrials association).


Source: sacbee.com

Read more here: http://www.sacbee.com/2013/11/07/5889992/only-olives-from-spain-dares-tantalize.html#storylink=cpy

Spain is finally out of its two-year recovery and house prices in Dublin are rising FASTER than during the property boom.

Spain has finally emerged from a two-year recession with figures showing that the country's economy grew in the last quarter in spite of extremely high unemployment.
Burgeoning exports saw the economy grow 0.1 per cent in the third quarter, according to figures from the National Statistics Institute released today.
But economists still warned that the road to recovery will still be a tough one for the Eurozone's fourth-biggest economy and that unemployment, which is still just under 26 per cent, will remain exceptionally high for at least another five years.

Meanwhile, house prices in the Irish capital Dublin are rising faster than they were during the height of the property boom, just months after the country's economy emerged from recession.
House prices rose almost 4 per cent in just four weeks in September and are expected to have risen some 20 per cent before the year is out.
Both countries have been bailed out by the Eurozone after hitting trouble following the 2008 crash.

Although the Eurozone offered Spain almost 100 billion Euros (£85.5 billion) in bailout payments last year, it only accepted 41 billion (£35 billion) in exchange for reforms and close international monitoring.

Ireland meanwhile accepted a three-year, 67.5 billion euro (£57 billion) bailout from the Eurozone and the International Monetary Fund.

The 0.1 per cent growth to the Spanish economy signals the end of the country's second recession in five years sparked by the collapse of a building boom in 2008.

The Institute's figures confirm earlier projections from Spain's central bank.

But the International Monetary Fund has warned that unemployment in the country will remain above 25 per cent until at least 2018.
And analysts believe that a full recovery could be held back by a lack of domestic consumer spending.
A report compiled by Capital Economics said: 'While economic prospects are considerably better than a year ago, particularly in the external sector, domestic weakness is like to hold back any recovery in the wider economy.
'We expect the unemployment rate to remain around its current high levels for some time yet and public debt to continue to climb.'

'We expect the unemployment rate to remain around its current high levels for some time yet and public debt to continue to climb.'
- Capital economics

The Spanish government expects an overall growth of 1.3 percent for 2013 - slightly better than the 1.6 percent in 2012 - before a return to timid growth of 0.7 percent in 2014.
Consumer price inflation in Spain slowed in October to 0.1 percent compared to a year earlier, according to other preliminary data from the statistics institute and EU estimates.
The institute attributed the easing in October to a fall in the price of food and a smaller rise in university fees than in the previous year.
Inflation has been easing in Spain since peaking in October 2012, in line with a general easing in the Eurozone indicated by the European Union data agency Eurostat.
Spain has pushed through painful spending cuts to bring down its soaring public deficit under pressure from the European Union.
It also last year passed labour reforms that have made it cheaper for companies to hire and fire workers.

Spain resisted pressure last year to seek a full bailout from its neighbours but accepted 41.3 billion euros (£35.3 billion) in Eurozone rescue loans for its banks.
Meanwhile, despite only announcing that it had emerged from recession last month, the property market in Irish capital Dublin saw house prices rise by 3.9 per cent last month - a faster rate than during the property boom.
That rise means that property prices in the city have rocketed a staggering 12.2 per cent over 12 months.
That annual increase is expected to reach 20 per cent by the end of the year.
During September, the price of a 300,000 Euro (£256,000) home rose by around 12,000 Euro (£10,278) according to the Central Statistics Office.
According to the Irish Independent, a combination a pent-up demand from cash buyers and a shortage in family homes is the cause of the rapid rise.
The rise comes amid warnings of a property bubble in Dublin, and the Government is being urged to ease pressure on the housing stock by ensuring that families have access to cheap housing.
Rural areas have not seen the same rise.
Overall, house prices are still down almost 50 per cent in Dublin since they were at their peak during the boom in 2007.
Planning permission has already been secured for 10,000 new homes in the capital.

Source: dailymail.co.uk

The whole world wants to invest in Spain

The chairman of Spain's Santander bank has told a New York press conference that the Spanish economy is going through a "fantastic" period in time as trust in the country "had grown unimaginably".

Emilio Botín, recently voted Spain’s most influential businessman, had nothing but praise for the current state of the Spanish economy in a press conference held in New York on Thursday.
"Everyone is interested in investing in Spain," Botín rejoiced.
"We're getting money for the stock exchange, for debt, for investment.
"You wouldn't believe how things have changed in the last six months."
Botín gave the example of a Chinese client he had convinced to invest in Spanish public debt who later thanked him and told him he was doubling his initial investment.
"It's a fantastic period in time for Spain's economy," Botín argued while praising the Spanish government's labour and financial reforms.
Although he acknowledged there was still "a lot to be done" with regard to the country’s high unemployment rate, the Santander boss said Spain’s banking sector "is better than ever".
The 79-year-old banker announced that Spanish banks were eager to lend money but added that demand is essential, as foreign entities want "good clients and not insolvent ones like the ones lending a few years back".
Botín was in New York to launch the rebranding of the US's Sovereign Bank to Santander.


Source: thelocal.es

Is it the right time to invest in Spain?

With an aggregate volume of around €2bn between Q1 - Q3 2013, the Spanish real estate investment volume is increasing, according to new research BNP Paribas Real Estate, as revealed at its Investing in Spain event held today in London.

The most active sector is retail, driven by large portfolio acquisitions, followed closely by the office sector and then the hotel market. Transactions have mainly focused on assets in Madrid and Barcelona, with the average value varying between €20m and €40m. The sales of housing portfolios have also finally come back to life.

Luis Martín Guirado, president of BNP Paribas Real Estate Spain, said: “The opportunities offered by Spain as a country go far beyond the success which it has justifiably achieved in fields such as tourism, sports and cuisine. So why do we believe that this year will be particularly favourable for real estate investment in Spain? We are seeing capital values for all types of real estate assets and the price of land at the lowest levels seen in recent years, representing a unique opportunity. The primary markets such as Madrid, Barcelona and Valencia are enjoying moderate, stable rents and further growth is expected. In addition, as a result of future yield compression, returns for investors committed to Spain are anticipated in all sub-sectors.”

BNP Paribas Real Estate’s international investment director, Andrew Cruickshank, commented: “The expectations for recovery during 2014 is fuelling a perception that available assets with prices below market levels may offer high internal rates of return. We are now seeing large international funds setting themselves up in Spain on the lookout for real estate opportunities originating from public institutions, banks repossessions and the Sociedad de Gestión de Activos procedentes de la Reestructuración Bancaria (SAREB).”

Unlike previous years, where real estate investment rested in the hands of private national investors, American, French, British and German funds are now prominent in the Spanish investment market. Latin American private equity and investment funds have also recently acquired Spanish assets.

This increased investment activity has not yet affected prime yields, in part due to the weakness in occupancy. Prime offices in Madrid offer initial yields of around 6.2%, compared to 6.4% in Barcelona. The prime yield in the retail segment amounts to 5.5% in both key cities. Although logistics investment transactions have so far remained frozen in 2013, the initial yield is around 8%. Despite the improved outlook for public sector debt and the economy in general, yield compression is not anticipated until the recovery of the occupational market becomes evident, forecast towards the second half of 2014.

“We expect the improving Spanish real estate investment climate to remain positive for the rest of this year and into 2014. Bank portfolios and the SAREB will continue to foster opportunistic strategies and the bottoming-out of capital values will open the door to value-added strategies. Nonetheless, access to credit for real estate investment will remain restricted for the foreseeable future and as a result, cash buyers will continue to represent the main players within the Spanish market,” added Cruickshank.

Source: property-magazine.eu

Suitors Considering Investment In Spanish Property

Investors are considering splashing the cash on Spanish real estate as the country’s economy and real estate market seem to be finally cleaning up, following a long period of recession. The nation recorded an increase in GDP for the first time in five years during the third quarter this year, and investors from across the world are beginning to display interest in their property market. Although complete recovery may take a few years to materialize, interest from foreign investors is sure to boost the market.

Spain’s real estate woes are no secret as several thousand properties remain unsold. Banks in the country have suffered due to the economic trouble and a host of unwanted real estate assets have piled up on their mortgage books. Market insiders are of the belief that the country has moved past its worst moments and the only way now is up. While some investors are still cautious about what the future might bring, others are making the most of the present situations and flocking to the Iberian peninsula with the intention of racking up some fine properties for extraordinarily affordable prices.

What does the future hold for Spanish property?

On paper, investment in Spanish properties could not have offered a better value, but investors are still considering the wider continental picture which appears uncertain with a bleak future. There are positive signs pointing towards Europe and its consolidation following the recession, and the continent is poised to experience a fairly better medium to long term future. However, the short term signs are mixed.

Several different austerity measures have been implemented by the government of Spain as a large number of businesses and people have been pushed to the limit. Conflicts and unrest have become a common feature among the various authorities in the country while the locals and their businesses have also suffered a lot.

Since a good economy is essential for a good property market, Spain’s 26 per cent unemployment rate only made matters worse for the nation. However, the economy’s recent upturn in GDP has provided hope for the future as it is seemingly taking short and effective strides towards recovery.

Promising long term future

Although Spain has experienced a quarterly increase in GDP, a mere 0.1 per cent does not appear too exciting. Several real estate experts in the country are predicting that there may be a further decline in the near future as the market is still not stable. But, the medium and long term future is expected to be positive thanks to an influx of foreign investors who are currently flocking into the country’s property market.

Spain is offering free residency visas spanning five years to investors who purchase big properties in the country. With a EU passport up for grabs, investors from the Americas and Asia are stepping up their interest as they look to capitalize on long term benefits. The fact that the visas can be converted into permanent ones makes the prospect all the more fascinating for potential suitors who are set to invest capital into the market and in essence, the economy.

Derwick Associates to Seek Investment Opportunities in Spain

A contingent from Derwick Asscoiates recently traveled to Spain to discuss investment opportunities with the Spanish electricity sector. Traveling within the contingent were several of the directors of the company, including Leopoldo Alejandro Betancourt López, Pedro Trebbau López, Edgard Romero Lazo and Francisco Convit Guruceaga. The Venezuelan company directors met with Eduardo Montes, the president of the Spanish Association of the Electrical Industry.

Derwick is seeking opportunities abroad after experiencing a great deal of success in Venezuela. Electricity is one of the most productive sectors in Spain, accounting for 1.2% of the Gross National Product. This seems to make Spain a logical destination for one of the most successful energy companies in all of Venezuela.
Derwick Associates’ experience in Venezuela comes in the form of supplying equipment to and establishing power plants. They are capable of providing a number of other services, including installation, procurement, engineering, construction, commissioning and operation maintenance. The company was able to thrive despite Venezuela’s rationing plan, and was in fact able to provide additional energy sources in a time of need.
“We are always looking to expand and diversify our opportunities, both at home and abroad,” said Leopoldo Alejandro Betancourt López, one of the directors of the company. “We feel that there is an opportunity for us in Spain, and it is in our best interest to explore that opportunity.”
The company has had an office in Spain since 2010, and has conducted research on the Spanish economy and its energy production. Clearly, Derwick Associates must see an opportunity that is intriguing enough that they are exploring it this thoroughly. “Yes, of course we think it is viable for us to expand to Spain,” began Edgard Romero Lazo, another director of Derwick Associates. “We feel there is a great opportunity for us here, but we would be remiss if we did not conduct our due diligence.”
The intrigue from the Spanish Association of the Electrical Industry stems from Derwick’s unique experience in providing energy rapidly in a company largely deprived of it. Derwick is uniquely qualified in this way to provide a number of energy solutions.

Source: digitaljournal.com

Spain's property market increasingly targeted by foreign investors.

New reports reveal that when it comes to buying Spanish real estate, foreign investors are increasingly outnumbering their local counterparts.

Compared to the same period of 2012, the first six months of 2013 saw international purchases of property in Spain grow by 13.6%, the General Council of Notaries reveals.

Indeed, while Spanish spending in the international market has reached a ten-year low, the Bank of Spain reports that foreign investment in Spain reached over 2,834 million euros: the biggest amount recorded since 2004.

With an erratic market and mortgage lending at record lows, Spanish banks have made it difficult for their citizens to take the plunge and buy. Unsurprisingly, Spanish investment in property abroad has also dropped significantly with 89% less spending than in 2007.

Foreign investors escape the bulk of these problems, giving them an advantage when buying up property. 

Current levels of foreign investment in Spain are still 20 per cent less than the heady days of 2003. 

However, Spanish newspaper El Mundo reported a healthy level of non-resident British citizens in this category. With 1,244 transactions made by Brits in the first quarter of 2013 it paints a bright picture for the future of Spanish property investment. 

Source: aplaceinthesun.com

Raising money for Javea Cancer Care

LOS JUBILADOS are a group of retired mates who met up at Café Molino in Oliva at the regular Friday night jamming sessions, a few years ago.
As learner guitarists, and after much practice, they formed the group for the Javea Computer Club’s Christmas Party last year.
They are Tony Spike, Ian McKenzie, Howard Parker and Derek Bush, joined by Bryan Wall on the drum box, during his holiday visits to Spain.
They play for a variety of charity functions to raise money for Javea Cancer Care, chosen because each of them have themselves, or family members and close friends, suffered from cancer in various forms.
They would like to thank everyone who has helped along the way, particularly Denis and Sue, for the introduction to Rebecca and Martin at bar Poll (ca’ la queka) Rebecca’s House, in Els Poblets, where they play every Wednesday night to raise money by donations only, and all their customers, for their generous donations to date (€1,001.35 since early July). They would also like to thank Bay Radio.
Their latest brainwave is the Calendar Girls collection, currently being prepared for print by SR Print, Pedreguer, to boost profits for 2014, inspired by Peter’s outstanding success with his Biker Babes Calendar for Emaus children’s charity. Thank you to the calendar girls themselves for their fantastic effort and courage.       
The calendar is available from Café Molino, Plaza Ganguis 7, Oliva, Ca la Queka, Carrer St. Josep 8, Els Poblets, Quicksave Supermarket, Avenida Murtar 03/3 bajo, Pedreguer, and also Cancer Care Javea, Avenida del Pla 135, priced at €6 each plus post and packing or contact Los Jubilados on their email address losjubilados15@gmail.com.

Source: www.euroweeklynews.com

Optimism, and Caution, as Spain Attracts Investment

MADRID — Like other Spanish builders, Fomento de Construcciones y Contratas, or F.C.C., had struggled to convince investors that it could extract itself from Spain’s housing market quagmire.

In the last six months, the management of F.C.C. was on an almost continual investor road show in the world’s financial capitals. The campaign finally yielded fruit Oct. 21, when the company announced the sale of 6 percent of its equity to Bill Gates, the co-founder of Microsoft, for 113.5 million euros, or $154 million.

Two days after Mr. Gates’s purchase, as it happens, the Bank of Spain said the country had pulled out of recession and returned to growth of 0.1 percent in the third quarter after nine consecutive quarters of contraction.

Both announcements appeared to confirm what many Spanish executives and the government of Prime Minister Mariano Rajoy had been asserting for months: that Spain deserved its place back in the sunshine.

There are, of course, plenty of clouds still hanging over Madrid — so many that on Wednesday the Spanish economy minister, Luis de Guindos, warned against triumphalism, telling members of the Spanish Senate that, at a time of near-record joblessness of 26.6 percent, nobody should claim that “all is well.” Overall growth is expected to remain anemic for several years.

Still, the speed of the turnaround in investor sentiment has been striking.

“What is truly remarkable is that Spain is suddenly flavor of the month, when until recently investors smelled a rat here,” said Gonzalo Díaz-Rato, who advises international funds on buying Spanish assets.

Three weeks ago on a visit to New York, Emilio Botín, the chairman of Banco Santander, told reporters that Spain was in “a fantastic moment.” He added: “Money is arriving from everywhere.”

Although Mr. Botín’s optimism raised eyebrows back home, especially among ordinary Spaniards struggling with austerity budgets and joblessness, most indicators add credence to his assessment.

Foreign direct investment doubled in the first eight months of this year to €19.4 billion, according to Mr. de Guindos, the economy minister. That was thanks in part to Ford and other carmakers that have been expanding production here. For all of 2012, foreign direct investment had fallen to €21 billion, from €30 billion in 2010, when Spain briefly returned to growth.

Spanish banks, whose loan defaults forced Spain to negotiate a European bailout last year, have since then been able to sell assets and reduce by three-fourths the level of exposure to troubled real estate loans they had before the rescue. Last month the main Spanish stock market index climbed to its highest level since July 2011, although it has since slipped back a bit. And Friday, the credit rating agency Fitch upgraded Spain’s outlook to stable from negative.

How far can this Spanish recovery continue?

“Very” is the answer that Arcano, a Spanish wealth advisory and asset management firm, provided in a report published in October.

The analysis compared the situation of Spain with that of Germany a decade ago, when Berlin managed to turn around its current-account deficit — a broad measure of a country’s trade performance — and embark on an export surge that has more recently allowed Germany to weather the financial crisis better than most other European nations.

“Spain is now in a position to achieve that kind of German recovery,” said Ignacio de la Torre, a partner at Arcano.

Aiming to ride this wave of optimism, the government has revived a privatization program that was shelved two years ago because of Spain’s downturn. In coming months, it is expected to sell as much as 60 percent of Aena, the national airport management company. Analysts value Aena at about €15 billion, but that includes a debt of €12 billion.

But the fact that Spain has been in and out of recession since the start of the crisis — briefly returning to growth in 2010 before sinking into its banking crisis — has also left some economists skeptical about the staying power of the latest recovery.