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Spanish Property News

The Spanish market is still very active with prices rising in 2004 by 17% nationwide, some four million foreigners have moved to the area since 2000, the growing employment rate has helped boost the demand for house, some half a million new jobs were created last year.

Spain had more houses built than France, Germany and Italy combined, over 20% of all Spanish properties where built in the past decade, Spain is currently outstripping similar European countries with strong property markets.

There has been a concern that a market crash may happen, however there are some important reasons why the Spanish market is showing signs of continual growth, Low interest rates and a strong economy, high demand for new properties and the older more expensive properties are still in demand.

The Costa Almeria and Costa Blanca are still very popular with the rise in cheap flights and the South Alicante airport (As Virgin call it) otherwise known as Murcia or San Javier now receiving more and more flights making the Costa Calida and Costa Almeria very accessible for holidays or weekend breaks.

Last year 54,000 people moved to Spain which was 15% of the total number of people who moved abroad last year, 30% of these people where over 60 with only 5% under 40.

Cyprus Property Market

Cyprus is still among the cheapest countries to invest in a home overseas, beware of the costs involved in buying a property and ensure that you know all the costs before proceeding with a purchase, review our buyers guide for more information.

We have also received reports of Greek Cypriots returning to land in the north with the deeds to the land, thereby causing some serious problems for people who have purchased that land from the Turkish Cypriots – If you do decide to buy in the North be very careful and seek very good legal advise. Until things settle down in the North we will not be offering property for sale there.

Property prices in Cyprus have trebled since 2000 and rose by a magnificent 18% last year alone, a great return for the property investor, this does not appear to be slowing.

According to the BuySell Home Price Index, which assesses the movement of prices at which residential properties are sold in Cyprus based on monthly sales, the average house price in Cyprus currently stands at CYP 85,317, or £98,922 in UK pounds. This is substantially lower than the average house price in the UK, which currently stands at over £150,000.

Full membership of the EU for southern Cyprus is likely to keep fuelling this market.