Sunny Spain Remains Top Choice for UK Investors

For many people, the dream of a place in the sun is often just that - a dream, although for the fortunate few who are able to realise that dream, it seems the Spain maintains itself as top of the list in a recent survey, especially for those living in thr UK.

Given the terrible weather experienced this year so far in the whole of the UK, it's no surprise that many people are looking for a second home in warmer climates. According to the survey, the Spanish lifestyle beat near rivals France, Portugal, Turkey and Bulgaria as preferred destination for investors looking for their home away from home. The study cites the possibility of tumbling real estate prices as a possible reason for the ranking as number one, in comparison to its sunny neighbouring countries.

This is perhaps an interesting find - while it's true that in the past the peseta and even the introduction of the Euro, made Spain a relatively cheap destination for other european countries with stronger currencies such as Germany and the UK, the current exchange rate of the GBPound against the Euro is almost equal.



Within Spain, it's likely that the favoured destinations will be the Spanish "costas" and the islands in the Mediterranean, assuming you can afford the prices. However, it's important to remember that Barcelona was also voted 5th best city in the world in 2009. There are many great real estate opportunities in Barcelona, and the best way to discover the gems is to contact a Barcelona Real Estate Agency such as Modus Vivendi. With over 5 years experience in Barcelona and the surrounding area, they also offer some secure and transparent guidelines to buying a property in Spain so rest assured you'll be in good hands.

The Most Expensive Houses in Spain

According to a an article today in the online newspaper ABC, Europa Press published a study from Pisos.com (confused yet?) about the most expensive second-hand properties on sale at the moment. The results are pretty staggering in my opinion! Sitges, the seaside town close to Barcelona tops the list with a house on the market a massive 10 million Euros! We're talking about a plot of 2000m2 and the house itself is 400m2, with outdoor gardens a swimming pool, 5 double bedrooms and 3 bathrooms. It's also up for rent at a cool 15,000 Euros a month.



Now, nobody for a minute is suggesting that Sitges is not a playground for the rich and famous around Barcelona. The small town feel is an ideal getaway from the bustling streets of Barcelona, and many of the FC Barcelona football players have houses here, but what surprises me is the apparent quality on show. If you have a look at the images on show, you'll see a pretty 80's style looking house in my opinion, with a poorly kept garden, and save some amazing views from the balcony windows (what more would you want for your 10 million?) nothing really leaps out to shout quality - take the kitchen for example?!

The second most expensive house is located in Marbella, and is on the market for 9 Million Euros. Again, there is nothing here which screams luxury from the images online, and with 8 bedrooms and 10 bathrooms, this is a huge mother of a house RIGHT on the beach itself. To me, though, it looks like it needs a lot of work doing to it, especially taking out the pink 80s jacuzzi overlooking the beachfront!

Third on the list is a chalet located in Palma de Mallorca, and is going for a snip at 8,800000 Euros. With 3 bedrooms and a baffling 9 bathrooms, this is a huge property, too, with 1000m2.



Considering the amount of properties out there at the moment, both new and used, I'm sure there can be plenty of bargains to be had. These three properties seem well over-priced to me, and although the images on the sites are doing it no favours, consider this one published in the New york Times last year at only 1,45 Million Euros. I say only in comparison to the other three mentioned here above!

Are you looking to invest in Barcelona? Luxury Barcelona Real Estate Agents, Modus Vivendi, have an outstanding selection of properties for sale in Barcelona as well as an ample portfolio of long term rentals in Barcelona, too.

Spanish Selling Fraud - Danger for Holiday Homes

A real nighmare of a case sprung up this month in Madrid with regards to holiday homes. Spain is such a popular destination for second homes - indeed many of the residents of cities within the country itself have holiday homes within the mainland or on the islands of Spanish territory - why go elsewhere when you have fun, sun and don't have to bother learning another language?!



However, imagine the surprise for the Spanish family who arrived to their holiday home to not only to be greeted by another family occupying their home, but one who had paid good money to be there, too! This is straight out of a nightmare but was the harsh reality for an unlucky family who had fallen victim to identity theft.

It seems that modern day scammers need only a smart car and a sharp suit to dupe unwilling proprty owners into parting with a lot more than just a one-month rent. It has been revealed that in Madrid in this case, organised gangs of theives are prowling holiday residences in search of an annual rent. Once these "professionals" are granted a rental agreement, they use personal details revealed in the rental contract to falsify identification papers and cards, then advertise the property as well below the asking price and make a sale.

As in the majority of countires, any sale must be authorised by a notarty but many notaries simply jot down the identification numbers presented on an identity card, rather than verify the credability of the actual document. This means that in this case in Madrid - by no means an isolated incident - the theives were able to make off with a substantial amount of profit for a few weeks work. Worth the gamble of being caught, you ask? Well, considering the property prices in Madrid versus a monthly rent, I'd say yes.

So what happened to the righful owner, I hear you cry?! Well, beleive it or not, a judge ruled that the "new" owners were not at fault for the fraud, and as the property had entered into the civil property registry, this is "untoucheable". The case was without resolve at the time of writing, but alarm bells ring for those home owners looking to invest in propertes which may not be occupied during long periods of a year.

Luxury Barcelona Real Estate Agency, Modus Vivendi have an outstanding selection of the best properties for sale in Barcelona as well as an ample portfolio of long term rentals in Barcelona.

A Good Time to Buy Property in Spain Right Now?

It's well known that the Spanish Housing market has been at the backbone of the economy for the past ten years or so, and that the crash of last year has had a knock on effect for many industries, leaving many blocks of apartments in ghost towns, or many projects half abandoned, with each party blaming each other. A perfect example is the proposed renovation of Las Arenas Bull Ring in Barcelona - where despite going over the provisional date twice, organisers of the project are still bickering over whose fault it is that work has stopped.



So what about buying property? Well, due to the market almost being frozen at the moment, there are some fantastic bargains to be had if you look in the right places. Prices are being slashed and Luxury Estate agents in Barcelona and other cities will help you find the property of your dreams at a fraction of the cost you thought you might have to part with.

The Euribor also keeps on falling (although August's has not been published as yet), meaning that the base rate of the interest you will be paying on any loan you take out will be at rock bottom - the lowest in history. Banks and Cajas are also giving out loans for longer and longer periods - up to 50 years for mortgages in some cases, meaning the repayments can be manageable in this financial downturn.

For Real Estate in Barcelona, contact Modus Vivendi, whose portfolio of excellent properties are bound to fulfill your expectations.