Tag Archives: extensions
Property sales in Spain reach three year high
Residential property sales in Spain increased in May to their highest level for three years, according to the latest official figures. But there is an ongoing collapse in new home sales, the data from the National Institute of Statistics (INE) shows. Overall there were 26,455 homes sale in May, up 5% on last year and 11% on the year before that. But a breakdown of the figures shows that the increase came from the resale market, up 34% over 12 months, whilst new home sales fell 42% to just over 6,000. According to Mark Stucklin, of Spanish Property Insight the overall picture is one of a recovery in demand for property in all areas where foreigners tend to buy, but with the market hamstring being a lack of attractive new homes for sale. However this could be about to change. Demand is growing for new homes in Marbella, for example and developers are building again. Land is in high demand and for the first time in almost a decade residential, commercial and tourism projects are under construction and market sentiment is increasingly positive, according to Pia Arrieta, partner at DM Properties Knight Frank Marbella. ‘Genuine interest in good value, good quality, well located plots of land is on the increase. Land prices in Spain climbed 5.2% during the last quarter of 2014 and sales increased significantly compared with the same period in 2013,’ said Arrieta. Arrieta explained that the strong pound is encouraging UK buyers who are considering a broader range of investments, but northern Europeans, particularly those from Scandinavia, the Benelux nations, Germany and Russia are also ranking highly among those choosing to build their dream homes on the Costa del Sol. ‘The demand for land stems from a growing appetite amongst end users’ for turnkey, contemporary products with the latest gadgets and luxuries. Competitive construction costs and the decline in land prices in recent years has spurred developers on,’ she pointed out. ‘Marbella’s accessibility along with continuing investment in the town such as its new boardwalk and the increasing number of top rated restaurants are also encouraging new development,’ she added. According to Knight Frank’s head of sales in Spain Christian de Meillac this upturn in demand has also been replicated in registration figures. ‘In the first half of 2015 Knight Frank has seen a 65% increase in new applicants registering their interest in Marbella compared with the same period last year,’ he said. ‘Buyers are seeing value again. Prices have come down, the exchange rate is favourable and buyers are seeing long term growth potential,’ he added. Continue reading
UK home owners would rather improve than move, new research suggests
Most home owners in the UK would rather spend money improving their current property than moving, new research suggests. An overwhelming majority (94%) of UK homeowners would rather spend money improving their current home than sell up and move on, research reveals today. Despite the recent reduction in stamp duty and 0.7% rise in house prices, 49% of the nation’s respondents plan to stay put and renovate in 2015, and are happy to spend over £5,500 doing so. Indeed 94% would rather spend money and 43% say one of their main reasons for renovation is to make their home look nicer, whereas only 6% cite it for the purpose of selling in 2015. The survey, commissioned by Wooden Blinds Direct, questioned home owners from across the UK on their home improvement spending in 2014 and projected spend in 2015. Regionally there were differences. Just 35% of Scottish home owners are planning a renovation in 2015, with an average £4,576.21 spend. In contrast, South West home owners plan to spend over double this, forking out an average £10,430 for their extensions, decorating and other renovations. The home improvement survey also found that men plan to spend on average £1320.78 more than women on home renovations in 2015 who would spend on average, £6216.52. Northern Ireland is set to have the biggest increase in home renovation during 2015, rising 173.5% while Wales the biggest drop in home renovation, falling 51.18%. Some 43% of North East home owners would like to invest in their homes to reduce energy bills, compared to only 17% of Scottish households. ‘The housing market is still volatile and that’s reflected in the results of our survey. People are more concerned with making the house they’re in more comfortable than moving out. Whether that’s by extending and building or even by simply redecorating rooms it’s obviously a much cheaper alternative,’ said Lee Fisher, marketing manager at Wooden Blinds Direct. Most home owners in the UK would rather spend money improving their current property than moving, new research suggests. An overwhelming majority (94%) of UK homeowners would rather spend money improving their current home than sell up and move on, research reveals today. Despite the recent reduction in stamp duty and 0.7% rise in house prices, 49% of the nation’s respondents plan to stay put and renovate in 2015, and are happy to spend over £5,500 doing so. Indeed 94% would rather spend money and 43% say one of their main reasons for renovation is to make their home look nicer, whereas only 6% cite it for the purpose of selling in 2015. The survey, commissioned by Wooden Blinds Direct, questioned home owners from across the UK on their home improvement spending in 2014 and projected spend in 2015. Regionally there were differences. Just 35% of Scottish… Continue reading
