Friday, 30 July 2010
Wednesday, 30 December 2009
Kyero news blog now found at live.kyero.com
After a positive response from this unofficial blog, Kyero have now launched a new domain to host all it's daily news from Spain.
Officially launching in the New Year, the daily news from Spain content can already be found at:
http://live.kyero.com
Comments are welcomed, while guest articles and stories are always gladly received.
We'll see you in 2010! Happy New Year!
Officially launching in the New Year, the daily news from Spain content can already be found at:
http://live.kyero.com
Comments are welcomed, while guest articles and stories are always gladly received.
We'll see you in 2010! Happy New Year!
Tuesday, 15 December 2009
Real Signs of Recovery from Recession in Spain
Prices rose a half point in November and confirm the emergence of signs of recovery after eight consecutive months of decline that has placed Spain in a period of recession. This finding was confirmed by the National Statistics Institute (INE) and gives the cumulative inflation from January at 0.8% and the year at 0.3%.
Benefitting most from this result are the countries 8 million pensioners who at the start of the year received a 2% increase in payments and, although prices have risen0.8% through November, will not to be forced repay the difference. They would have benefited from increases in purchasing power between 1.6% and 6% on average (plus, the Government increased the pension base rate). This situation was first seen in 1998 and the PP government decided to keep rising payments despite strong criticism about the financial stability of public pension system.
The second target market are the almost three million civil servants, who received an increase on wages of 3.4%. The November CPI data has not only ruled out the fear of continual deflation put forward by those who argued that in the short term “the worse the better,” but they have also identified new inflation risks that may accompany the recovery process.
Benefitting most from this result are the countries 8 million pensioners who at the start of the year received a 2% increase in payments and, although prices have risen0.8% through November, will not to be forced repay the difference. They would have benefited from increases in purchasing power between 1.6% and 6% on average (plus, the Government increased the pension base rate). This situation was first seen in 1998 and the PP government decided to keep rising payments despite strong criticism about the financial stability of public pension system.
The second target market are the almost three million civil servants, who received an increase on wages of 3.4%. The November CPI data has not only ruled out the fear of continual deflation put forward by those who argued that in the short term “the worse the better,” but they have also identified new inflation risks that may accompany the recovery process.
Friday, 11 December 2009
Spain's Costa del Sol - Where would you Rather Live?
Looking back at the archived article below, from 2004, it was difficult not to get tied up in thoughts of the world's property slump and financial problems. The Costa del Sol was home to a great deal of growth and it certainly has taken a hit now that a readjustment is taking place. However, it also struck me that, even in these times, Spain is still a very desirable location to live. The property crash is hitting most of the world, but people still need to live somewhere ...
Looking at it from this angle, the Costa del Sol offers more than 300 sunny days a year, average temperatures of 20 degrees and a wealth of diversions and entertainment for all the family. More than capital gain, these features and the lifestyle it provides, are why the Costa del Sol (and arguably Spain as a whole) will continue to attract those looking to set up a new life or purchase a second home.
While property developers are always looking to make a profit, the vast majority of people put priority on a happy and enjoyable life - something that Spain, especially here on the Costa del Sol, can provide in spades whatever the economic climate.
From 2004 - "Property sales in Costa del Sol are still be as strong as ever, with continued development everywhere and some 50,000 new houses being built every year. Divided into two distinct parts, East and West, the Eastern Costa del Sol covers the 50 or so km east of Malaga and includes towns such as Nerja, Torrox Costa and Torre del Mar. Although less developed than the Western Costa del Sol, this is still a popular area with the British and other Europeans, counting a significant number of property sales in Costa del Sol, the pace of sales and construction having grown rapidly over the past few years. The Western Costa del Sol covers the 100 or so km from Malaga down to Cadiz and includes towns such as Benalmadena, Fuengirola, Mijas and Marbella. Far more developed than the eastern Costa, this area could be said to count for the majority of property sales in Costa del Sol.
Property on Costa del Sol, whichever way you look at it, has always been considered a good investment and many buyers have doubled or tripled the value of their property in the past 10 years. Malaga airport provides daily flights to the main European cities, ensuring excellent access and cheap flights for those who have bought property on Costa del Sol with a view to holidaying regularly in the area and, of course, encouraging a healthy property rental market. The Costa del Sol is one of the most popular all-year-round destinations of Europe with an average temperature of 18 degrees and a wide range of attractions in the area including excellent beaches, attraction parks, and world-renowned golf courses, one can see why this area attracts visitors, young and old. Not only for tourists, the Costa del Sol has become a popular place for retirement and a change of life-style for many northern Europeans. Keen to move away from the cold winters and high prices, more and more Brits (and other Europeans) are opting for a life in the sun and making a permanent move to their property on Costa del Sol."
Looking at it from this angle, the Costa del Sol offers more than 300 sunny days a year, average temperatures of 20 degrees and a wealth of diversions and entertainment for all the family. More than capital gain, these features and the lifestyle it provides, are why the Costa del Sol (and arguably Spain as a whole) will continue to attract those looking to set up a new life or purchase a second home.
While property developers are always looking to make a profit, the vast majority of people put priority on a happy and enjoyable life - something that Spain, especially here on the Costa del Sol, can provide in spades whatever the economic climate.
From 2004 - "Property sales in Costa del Sol are still be as strong as ever, with continued development everywhere and some 50,000 new houses being built every year. Divided into two distinct parts, East and West, the Eastern Costa del Sol covers the 50 or so km east of Malaga and includes towns such as Nerja, Torrox Costa and Torre del Mar. Although less developed than the Western Costa del Sol, this is still a popular area with the British and other Europeans, counting a significant number of property sales in Costa del Sol, the pace of sales and construction having grown rapidly over the past few years. The Western Costa del Sol covers the 100 or so km from Malaga down to Cadiz and includes towns such as Benalmadena, Fuengirola, Mijas and Marbella. Far more developed than the eastern Costa, this area could be said to count for the majority of property sales in Costa del Sol.
Property on Costa del Sol, whichever way you look at it, has always been considered a good investment and many buyers have doubled or tripled the value of their property in the past 10 years. Malaga airport provides daily flights to the main European cities, ensuring excellent access and cheap flights for those who have bought property on Costa del Sol with a view to holidaying regularly in the area and, of course, encouraging a healthy property rental market. The Costa del Sol is one of the most popular all-year-round destinations of Europe with an average temperature of 18 degrees and a wide range of attractions in the area including excellent beaches, attraction parks, and world-renowned golf courses, one can see why this area attracts visitors, young and old. Not only for tourists, the Costa del Sol has become a popular place for retirement and a change of life-style for many northern Europeans. Keen to move away from the cold winters and high prices, more and more Brits (and other Europeans) are opting for a life in the sun and making a permanent move to their property on Costa del Sol."
Thursday, 10 December 2009
An Improving Spanish Property Market
Spanish home sales totaled 106,273 in the third quarter of 2009, while this is 13.6% less than the same period last year, it does represent the smallest decline in a quarter since sales began plummeting in mid 2007.
Meanwhile, second-hand property has recovered by 11.5% as 52,299 homes were sold between July and September compared with only 46,901 during the same period in 2008, this is according to official data released by the Ministry of Housing.
The main cause of the overall decline is new housing, as its sales fell 29% in the third quarter. Comparing the cumulative sales so far this year, the drop equals 24.6% between January and September, with 330,914 sales compared to 439,045 in the same period in 2008. Looking at the same period for sales of second-hand homes, there was an effective fall of 15.2% between January and September (153,068).
Also of note was that 55.9% of all sales were concentrated on just four regions, Andalucia, Valencia, Cataluña and Madrid. Further confirming recent reports that the Spanish market cannot be simply taken as a whole and there are wide differences between Spain's autonomous regions.
The final quarter of 2009 will make interesting reading, and it is expected that further improvements will be demonstrated within the Spanish property market.
Meanwhile, second-hand property has recovered by 11.5% as 52,299 homes were sold between July and September compared with only 46,901 during the same period in 2008, this is according to official data released by the Ministry of Housing.
The main cause of the overall decline is new housing, as its sales fell 29% in the third quarter. Comparing the cumulative sales so far this year, the drop equals 24.6% between January and September, with 330,914 sales compared to 439,045 in the same period in 2008. Looking at the same period for sales of second-hand homes, there was an effective fall of 15.2% between January and September (153,068).
Also of note was that 55.9% of all sales were concentrated on just four regions, Andalucia, Valencia, Cataluña and Madrid. Further confirming recent reports that the Spanish market cannot be simply taken as a whole and there are wide differences between Spain's autonomous regions.
The final quarter of 2009 will make interesting reading, and it is expected that further improvements will be demonstrated within the Spanish property market.
Wednesday, 9 December 2009
How Valid is One Bank's Opinion on the Property Market in Spain?
In an interesting report, the British bank HSBC has stated that the adjustment of the housing market in Spain will continue in coming quarters even though there have been signs that the "free fall" of the property sector is nearing the end.
The report compares the current status of the housing market in the U.S. and UK with that of Spain, and in it, HSBC said that these countries have taken dips in housing prices that were far larger than the statistics reflect in Spain, therefore pointing out that in the Spanish market there is still room for further drops, but they did note that there are clear differences in price falls depending on the geographic area.
In this respect, the British bank said that the forecasts suggest that economic weakness will persist into 2010 and the Spanish property market recovery could take longer than that of the U.S. and the United Kingdom.
Similarly, HSBC suggests that these poor economic prospects may hinder the attraction of Spain as a destination for immigration, while the image portrayed of a country with high unemployment along with the strong euro reduces foreign interest in buying property in Spain.
Moreover, the institution hopes that the activity of housing construction between 1997 and 2007, spurred by expectations of price hikes have resulted in a "massive" over-supply, you may need two to three years to be assimilated by the market.
While nobody is crying foul of this story, it is very important to point out here that HSBC only provides corporate and investment services in Spain, with a paltry 4 offices, whereas it has a far higher presence in the UK with 1581 offices and 571 in the USA .. is it any surprise they would be talking up their primary operations over potential competition for investors money?
The report compares the current status of the housing market in the U.S. and UK with that of Spain, and in it, HSBC said that these countries have taken dips in housing prices that were far larger than the statistics reflect in Spain, therefore pointing out that in the Spanish market there is still room for further drops, but they did note that there are clear differences in price falls depending on the geographic area.
In this respect, the British bank said that the forecasts suggest that economic weakness will persist into 2010 and the Spanish property market recovery could take longer than that of the U.S. and the United Kingdom.
Similarly, HSBC suggests that these poor economic prospects may hinder the attraction of Spain as a destination for immigration, while the image portrayed of a country with high unemployment along with the strong euro reduces foreign interest in buying property in Spain.
Moreover, the institution hopes that the activity of housing construction between 1997 and 2007, spurred by expectations of price hikes have resulted in a "massive" over-supply, you may need two to three years to be assimilated by the market.
While nobody is crying foul of this story, it is very important to point out here that HSBC only provides corporate and investment services in Spain, with a paltry 4 offices, whereas it has a far higher presence in the UK with 1581 offices and 571 in the USA .. is it any surprise they would be talking up their primary operations over potential competition for investors money?
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