Spain, One Of The Two Most Attractive European Destinations For Investing In 2013, According To Morgan Stanley

Spain and Switzerland appear as the two most attractive destinations for investment in Europe, according to the ranking drawn up by Morgan Stanley analysts. The U.S. bank highlights the progress of the Spanish economy, which obtains the second highest rating among the 16 countries surveyed.

“The good classification of Spain mainly reflects its high score in terms of technical level and revenue and profitability,” point out the authors of the list, in which Spain has gone up two positions from the previous year, achieving the highest rating for a country at the periphery of the Eurozone since the third quarter of 2009.

In fact, Portugal (13), Italy (16) and Greece (14) continue to appear among the bottom five positions, accompanied by France (12), which has lost five places, and Belgium (15), which has also dropped five positions in relation to the previous ranking. Meanwhile, Ireland has gone up two and is ranked as the tenth most attractive destination.

Among the factors that determine the attractiveness of Spain, the organization highlights the improved tone surrounding the periphery countries, which could become one of the surprises of 2013, in their opinion, thus obtaining a better result than their partners in central and northern Europe.

To this effect, Morgan Stanley analysts believe that the relaxation of the risk premium of peripheral debt and the narrowing of the GDP growth differential between European countries, contribute to a less negative perception for countries at the periphery.

Rajoy Optimistic Over Spain’s Future

Following the Spanish Government’s last Council of Ministers meeting of 2012, Prime Minister Mariano Rajoy took stock of his first year in Government, saying “we must persevere in the reforms we have undertaken”, and asked for “comprehension and solidarity” from citizens in order to overcome the economic situation, and stressed that “we will exit this crisis sooner rather than later”. Rajoy explained that to offset the imbalance that existed in the public accounts it was necessary, right from the start, to adopt extraordinary measures that were “painful but fair” in order to reduce the deficit.
However, Rajoy underlined that as a result of approving the Budgetary Stability and Financial Sustainability Act “we have laid the foundations for avoiding the occurrence of a similar situation in the future”.
Together with the emergency measures adopted, Rajoy stated that “the most ambitious and intense agenda of reforms of the last few years has been undertaken in Spain”. Of these, the Prime Minister made particular mention of the restructuring of the financial sector and the labour reform.
Rajoy stressed that the objective of this raft of reforms implemented by the Government is, “to lay the foundations for the stable and sustainable growth of our economy in the future”. In this respect, he said that if these reforms had not been undertaken, “Spain and the Spanish people would now be in a considerably worse situation”. He also said “we still have a very tough year ahead of us, particularly the first half”, since the Spanish economy will remain in recession for some time to come, “although we expect to see an improvement in the second half of 2013″.
Rajoy praised Spanish society for the way in which it is facing up to these times of crisis, and particularly acknowledged the sacrifices made by civil servants and pensioners. He called for “comprehension and solidarity” from the people: comprehension to apply measures “that no-one likes but which are essential” and solidarity to “understand that we all need to bear part of the common sacrifice to overcome our problems”.
Rajoy went on to say, “we must avoid everything that distracts us from our two major objectives, of exiting the crisis and creating jobs”. “All our energies must be focused on that which unites us, which makes us stronger, which allows us to resolve our difficulties together”, he said.
In response to questions from the press, the Prime Minister reiterated that the government does not intend to ask the European Central Bank to intervene to purchase bonds on the secondary market, but considers it to be a very useful instrument available to those countries that need it. “At present we have no intention of requesting this but we don’t discount doing so in the future”.
As regards reducing the deficit, Rajoy asserted that “no country has ever been asked to do so much during a situation of recession and with the financing problems that Spain has”, and pointed out that the European Commission will not request additional measures for 2012 and 2013.
Rajoy announced that it is not his intention to raise VAT in 2014 but that this depends on how events unfold. He said he also intends to return Income Tax to its previous rate and hold a debate with the Toledo Pact, at the beginning of the year, on the sustainability of the pension system. “We will hold an open debate on the pension system. We have no intention of further raising the retirement age”, he stressed.
After commenting on a number of other issues, Rajoy went on to announce some of the measures and reforms to be adopted by the Government in 2013, among which he cited those relating to the public administration services and those designed to drive credit towards small- and medium-sized enterprises (SMEs).

Retirement in Spain

Spain is the ideal place to live when you retire.  Approximately 2 ½ hours flying time from the UK.
The mild winters appeals to many Europeans wishing to live in Spain, the majority move to coastal areas, although living inland is becoming more popular.
Property prices in Spain are slightly lower than the UK as is the cost of living, good reasons for retiring in Spain.
During winter the average temperature is 16c and more often than not, much warmer in the sun.
The Costa Blanca and Costa Del Sol are still among the favourite areas for the British, Irish, Germans and Norwiegens to settle.
If you want to live in Spain permanently you will be required to register on the Padron at the Town Hall, this is similar to the Electoral Register in the UK, thus the Town Hall can provide the services you need to enjoy you retirement.
You may want to apply for residencia, although this is not compulsory anymore. The Residencia card entitles you to equal treatment with Spanish citizens.
If you are not of retirement age, you should ensure you have private health insurance. You can contact Bupa International who cover you in Spain, the insurers are known as Sanitas. If you shop around you can find other health insurance companies, I can personally recommend Sanitas as I had a bad fall and a cancer scare, immediate treatment and care, fantastic. You just call them direct, they offer you a choice of hospital or specialist in your area and you just go, you do not need to see the local Doctor and wait for hours or months for treatment.
The hospitals in Spain are of a high standard. About 5km distance from Flamenca Beach the new Torrevieja Hospital opened in October 2006, with state of the art technology, experienced multi-lingual staff who deal with private and state care.
The general opinion so far is that the service is far better than the UK, so do not be put off considering living in Spain because of healthcare or language difficulties, the Spanish staff are very helpful and most of them do speak English anyway, wonderful! You will need to apply for the E111 card and you need to carry it with you at all times,. The E111 card guarantees free healthcare across the EU which can be interpreted differently from country to country and in Spain, from hospital to hospital. The E111 is mainly for emergencies but may not cover you for everything, so it is best to take out private health care if you are not eligible for state care.
Some hospitals in Spain do not offer after care services, they expect relatives to bring meals or wash patients and a charge for all ancillary services. If you move to an area where English is the main language, you most probably will feel that you do not need to learn Spanish, but when you need to speak to Spanish companies, you will find it hard to be understood, so it is best to try and learn the basics of Spanish.
There are Spanish courses and translators advertised in local papers. Lifestyle For generations, Spanish families have enjoyed unspoilt beaches, stunning scenery and a gentle pace of life - and this same lifestyle is now readily available to overseas buyers.
The Spanish lifestyle is relaxed and unhurried, everything is ‘manana’ - tomorrow. The characteristics of the people who live here, for whom life is definitely for living and enjoying, more than matches the warm, sunny climate. Spain comes alive when the sun sets.
There is a wide variety of social activities and groups for International communities and Spanish alike. Over the years and more so recently, thousands of British people have settled in Spain, opening restaurants, clubs and other businesses, many with young children hoping to give them a better way of life, people retiring early and many having a holiday home in the sun. If you are considering retiring to Spain, the warm weather and easy lifestyle makes the Mediterranean Costa’s the perfect setting.
Winters are always mild, the coldest month is normally February. During the months of November, December, January and most of March, you can relax on the beach or your solarium, it never gets cold like it does in the UK. Summer is very hot and whatever time of year it is, you can sit and imagine what was like in the UK. When you hear people say ‘back home’ its windy, rainy and cold on a summers day you realise that you have forgotten that awful weather.
Many arthritic sufferers have said their aches and pains have gone and those who had bad health in the UK say how much their health has improved within 3 months - wonderful! . The Costa Blanca benefits from more than 320 days of sunshine every year.
Visit the local street markets where you will find locally grown fresh fruit and vegetables cheaper than the UK and tastier too. You will find many restaurants offer ‘menu of the day’, 3 course meals for less than 10 euros. At a Chinese Wok Restaurant you eat all you can for 8-10 euros, what more could you wish for and you do not have to wash up!!!.
Substantial EU investment over the years mean that the infrastructure on the Costa’s is excellent. Sanitation is now good, the beaches fly Blue Flags for cleanliness, the drinking water is crystal clear, the roads are superb and public transport is excellent. Put this all together and you have a perfect environment, just 2.5 hours away.
Your family and friends are only ever a half day's travel, with air fares becoming easily affordable the dream of a life in Spain is ever more achievable - come on and live your dream!!

Buying a property in Spain if you are non resident

 Steps to Buying

There are a number of steps to go through before you pick up the keys to your Spanish home. We'll go through these in detail once you've found somewhere to buy but, until then, here's a guide to how the sales process unfolds.
1. Find out how much you can borrow

This is dependent on your income and the type of mortgage you want. Bear in mind the maximum "loan to value" amount (how much of the property value the bank would be prepared to lend you) and that you should not over-stretch yourself to make the mortgage payments
2. Set your budget

Be realistic as you calculate all the costs involved. You'll have a variety of professional fees, taxes and charges to pay on top of the price of your property. See our Costs to consider page for a breakdown of the costs involved in buying a property in Spain.
3. Search for a property

This is the most exciting part of the buying process. When it comes to finding a property, nothing beats actually going to a location to check it out in person. If nothing else, it's a great excuse for another holiday! The sheer choice of property out there is pretty daunting, so ask yourself some basic questions about what and where to buy so you can narrow down your search. Buyers with a young family looking for a holiday home are bound to have different requirements to retiring couples and investors. Ask yourself practical questions about airport, road connections and local amenities. Use the wealth of magazines, books, exhibitions and websites available to get inspiration and to focus on what you want from your Spanish home.
4. Carry out a price check

It's so easy to find yourself falling in love with the first property you visit, particularly when you are buying re-sale property, but do some research on prices for comparable properties in the area where you want to buy. This will make sure you don't pay over the odds for your dream property. Unfortunately, some sellers assume that a buyer, particularly from overseas, may not know the local market and set an unreasonably high sale price - don't get caught out!
5. Obtain your N.I.E.

If you're serious about your property search, apply for your "Numero de Identificacion de Extranjeros" (NIE), or Foreigner's Identification Number, as soon as you can. It's a legal requirement when buying a home in Spain. Though you can wait until you've found a home, the earlier you arrange it the better.

With these matters dealt with, you're in a much better position to go ahead with the purchase once you've found your ideal property. The next steps for you are:
6. Appoint a lawyer

Your first step should be to hire a reputable and independent lawyer ("abogado") who knows the Spanish legal system and property laws (both national and regional). Unless you speak fluent Spanish, a bilingual lawyer is essential to translate and explain the documents for you. The Relationship Manager in your branch can recommend a good lawyer to you.
7.

    Sign a reservation contract (off-plan)

    If you're buying an off-plan property, at this stage you sign an agreement and pay a small fee in order to reserve the property. You will usually be asked to make payments in stages throughout the construction of the property.
    Make an offer

    you can make an offer on a re-sale property at this point, subject to survey.

8. Carry out a survey

This is compulsory if you are intending to take out one of our mortgage products, but a sensible precaution if you are buying in cash for your own peace of mind.
9. Obtain a "nota simple"

The "nota simple" is a Spanish Land Registry Certificate that confirms the legal owners of the property you're buying and shows any debts that exist on the property. This can be alternatively your lawyer or estate agent will be able to obtain this. You'll need to provide a recent version of this document when applying for your mortgage.
10. Arrange your mortgage, or alternative finance


11. Arrange a valuation

12. Set up a local bank account

You'll need a bank account in Spain during and after the buying process. Apart from the property itself, you'll need to pay professional fees, taxes and charges on the purchase and utility bills and potentially management fees once the property is yours. Look at our Accounts section to find out more.
13. Instruct your lawyer to complete legal investigations

your lawyer will do the necessary checks on the owner and title deeds to ensure that the sale is legal. Insist on seeing other documentation pertinent to the property - your lawyer will be aware of the documents that are necessary to check to safeguard against illegally registered properties or unpaid tax or utility bills. These include:

    Registered title deeds ("Escritura Publica")
    Annual Property Tax receipts ("Impuesto sobre Bienes Inmuebles", often referred to as the "IBI")
    Property Registration Certificate ("Certificado Catastral")
    Plan of building plots ("Plan Parcial") for properties located on urbanizations
    Paid-up Community fees for properties located on urbanizations ("Comunidad de Propietarios")
    Paid-up Utilities bills (e.g. electricity, water, rubbish collection)

14. Appointment of a notary

A Notary ("Notario") is a government official who oversees the completion of the property transaction ("escritura de compraventa"). His duty is to ensure the legality of the contract, but importantly, is not responsible for verifying the accuracy of the statements within the contract (which must be undertaken by your lawyer). If you sign a mortgage with us, we will engage the notary on your behalf in order for the contract to be signed and the transaction completed.
15. Pay a deposit (re-sale)

If you're buying a re-sale property, you are now able to negotiate a final purchase price in light of the findings from the survey. You will then sign a private purchase contract and pay a deposit, usually 10-20% of the agreed price. Make sure you fully understand the contract - at this stage, if you pull out of the sale, you will forfeit your deposit. If the seller pulls out, he must pay you double the value of your deposit.
16. Arrange a date for completion

On the completion date, the notary will read the property deed aloud and ensure you understand the commitments you're taking on prior to you signing it. You should have an English translation of the deed.
17. Pay for the property and applicable taxes

At this point you'll pay the remainder of the purchase price plus all the charges, taxes and fees detailed in the 'Costs to consider' section.
18. Title will be registered at the Land Registry

The very final step of the buying process is for your lawyer to advise you when you can expect to receive the full title deeds ("escritura publica"), which usually takes a few months to process. When these documents have been completed and returned by the local registry office, you will officially become a homeowner in Spain - congratulations!

Spanish push to attract British buyers back seems to be working

Around 56% of British people enquiring about the Spanish property market are actively interested in purchasing opportunities according to a study by Spanish real estate agent Inmoaction with 27% of respondents commenting that they would buy a second home in the country.

Results from the survey of more than 1,500 people highlights that the decline in prices in the Spanish property market is increasingly attracting British buyers looking for a well priced dream home.

‘While the data shows that Brits seem to be showing a great deal of interest in Spanish property, we are seeing this interest translate into action,’ said Marc Pritchard sales and marketing manager of Spanish house builder Taylor Wimpey España.

‘While enquiries by Brits have increased by 5.5% in August this year compared to the same time in 2011, last month saw 53% of all our property sales in August made to British clients,  the strongest sales month to British buyers since September 2010,’ he explained.

‘Opportunities to purchase quality properties in good locations at low prices combined with the strength of the pound to euro and 4% VAT has meant that Brits are prepared to act in order to take advantage of the current market,’ he added.

Keen to capitalise on this activity, the Spanish government and the Spanish Property Developers Association will be working together to formulate a plan that will target foreign buyers in order to help reduce the level of real estate stock on the market in Spain with a focus on Russia and China as well as European Union nations.

Among the suggestions made, the Spanish Property Developers Association propose measures that will make it more straightforward for funds to be transferred to the country when they are for a real estate transaction, as well as making it simpler for property buyers to obtain entry visas.

‘This plan demonstrates a sound and logical commitment from the Spanish government and Spanish Property Developers Association to propel the property market forward in Spain. Russia presents one of the best potential growth markets with the number of Russians buying holiday homes abroad, particularly in Spain having increasing tremendously over recent years. Interestingly, at Taylor Wimpey España last month, over 11% of Spanish property sales were made to Russian buyers. This is a target market that cannot be ignored and one we have been pushing for a while,’ said Pritchard.

15,000 homes under threat

15,000 ex-pats face losing homes

European Parliament urged to save their properties

Article by the cbfriday.com

MORE than 15,000 Costa Blanca homeowners have pleaded with the European Parliament to save their homes under threat from the controversial LRAU land-grab law.

Michael Cashman MEP, has challenged Sr Blasco, the Spanish minister in Valencia, over recent allegations that the European Parliament was exaggerating the number of petitions it had received from desperate citizens asking for help.

Mr Cashman has been leading the fight
for justice for EU citizens against alleged land grabs in and around Valencia.

Mr Cashman said: "Señor Blasco claims the EP is exaggerating as to the severity of the problem concerning the LRAU law in Spain.

"We have been petitioned by more than 15,000 EU citizens affected by the abusive implementation of this law in Valencia and we are acting on their behalf in order to ensure justice is done.

"I’d like to tell citizens affected by this law, as well as Señor Blasco and his colleagues in the ministry in Valencia, that the EP will not rest until this issue is resolved. If that means going to the European Court of Justice, so be it."

His vow comes as a Teulada couple are living a nightmare not knowing whether they will lose their property because of the land-grab laws.

Expatriate pensioners Tessa and Len Deacon said they cannot afford to pay the high infrastructure costs being demanded by the developers of the adjacent land ito their home.

They bought their home in 1993 but now a developer wants to build next door.

The couple would lose 700 square metres of land as well as having to pay 53,247 euros to the developer.

The Deacons said: We are UK pensioners and this is our only home which we bought in 1993 for our retirement.

"The LRAU has had a devastating affect on our lives and we would not wish the stress we have suffered for the past three years to be suffered by other people.

"We have been forced to spend money we had accumulated for our retirement on expensive lawyers and court fees just to try to retain what is legally ours."

• The association Ciudadanos Europeos has awarded its Golden Ensign to Abusos Urbanísticos No leaders Charles and Lisa Svoboda in a ceremony in Altea. The award was made in recognition of the Svobodas’ success in defending the rights of small property owners.

From this article - the cbfriday.com - we would like to remind persons looking to buy a property in Spain that not only is it advisible to use a well established Real Estate company that you can trust but you MUST use a solicitor in Spain - be it an independent solicitor or company solicitor to make sure that the property that you are going to buy is legal and there is not any complications with the purchase.

This can save alot of heartache and stress of buying in Spain - don´t get caught out...

Overseas property: Spain

It is not just in the UK that house hunters are stepping up a gear as the traditional sales season gets into full swing. The same is happening among would-be purchasers in Spain, which remains the favourite overseas holiday home location for Britons wanting to buy into the sun.

The Government's Office of National Statistics says some 69,284 properties in Spain are owned by Britons, although these include those owned by people still officially resident in Britain and who declare their second home to the Inland Revenue. In reality, many more are likely to exist.

Full story on the Independent online.

Spanish Government in for coastal property

Environment minister reserves the right to buy coastal property

Environment minister Cristina Narbona has declared the government has the right to buy coastal land or property offered for sale and that sellers must give first refusal to the coast department.

Sra Narbona said that where property or land is for sale on the coast, the government must be informed. This, she said, is a measure to ensure that unspoilt areas of coastline remain undeveloped and protected.

Under the law, the government has the right to carry out its own assessment of any property and fix a value. This, say experts, could cause problems because of the common trend of putting lower values on title deeds in order to avoid taxes - and then making up the true value in undeclared cash. If a seller refuses to accept the government's valuation of a property, the government can insist on buying at the value in the deeds.

In a separate move, opposition parties in Valencia have called the regional government's urban development programme ‘irresponsible’.

A report by the European Observatory claims Alicante Province is a vulnerable zone in terms of natural disasters. It says that intense construction over the last 10 years has left some places at risk, a fact ignored by regional government.

Opposition groups are demanding that regional president Francisco Camps ensures that marshland and risk areas are turned into development ‘no-go’ zones.

ARCHITECTS SPEAK OUT

The official college of architects in Valencia has urged regional housing and territories chief Rafael Blasco to suspend all building licences in coastal areas until such time as the new Plan Territorial del Litoral has been finalised.

President of the college Fabián Llisterri said that intense construction along the coast in recent years has in some cases caused damage and called for a public debate when the plan is ready.

Story from the Costa Blanca news

Spanish Country property for sale

A Place in the Sun on Channel 4 last night featured "Jaen" which is becoming more and more popular with people looking to buy property inland - country property in Spain.

Inland country property is becoming increasingly more attractive due to the busy and over built costas, people whom have lived in Spain are also seeking to move away from the crazy summer crowds to enjoy the peace, beauty and tranquility of the Spanish countryside. Not only is the country villages and towns of the Spanish countryside beautiful and traditional but much cheaper to buy and the cost of living is considerablely cheaper as well.

So why not look for a Spanish country property - Central Property Bureau offers some excellent properties for investment and for permanent living in beautiful areas such as Granada, Murcia and Alicante. We also have property contacts in Albacete where you can pick up unbelieveable property bargains !!!

Start searching today !!!

Ex-pats behind Spains property boom

Expats are emerging as a driving force in the Spanish economy, boosting demand for new housing, analysts say. House-buying by expats helps to sustain the country's construction boom, reports the British daily The Financial Times.

"There is no risk of a property crash in Spain in the short or medium term thanks to new demand generated by immigrants," says Angel Berges, a partner at Analistas Financieros Internacionales, a Madrid consultancy.

Berges told the paper he believes immigrants will buy some 170,000 homes in Spain this year – almost one quarter of total demand for new houses. In the past six years, Spain has seen a huge increase in its immigrant population.

The number of immigrants has risen to 4 million, making 9 percent of the population of over 44m. One in three immigrants moving to the European Union since 2000 have gone to Spain. Spain's rising divorce rate will also help to drive up demand for new houses.

Estate agents say people who have split up will buy up to 140,000 homes in 2006. Last year there was an 80 percent increase in divorces, to 87,000. It follows the introduction by the present government of the so-called 'express divorce'.

The number of separations fell by 51,000 as most people opted for divorce.