The number of British tourists taking holidays in Lanzarote jumped by nearly 7% in November 2009, according to the latest figures just released by the Spanish airport operators AENA, as the popular holiday island and investment hot spot starts to feel the benefit from the introduction of a whole raft of new flight services to the island from budget airline Ryanair.

Earlier this year the British market – Lanzarote´s largest and most important source of tourist numbers – had been in freefall.  With declines of 20% and more recorded as UK consumers struggled with the double whammy of a sharp depreciation in sterling versus the euro and the confidence sapping effects of the credit crunch. Continue reading »

Could the clouds finally be lifting on Lanzarote?  After a year of successive double digit decreases in visitor numbers the rate of decline in tourist arrivals halved last month on this popular holiday island.  According to the latest figures just released by the Spanish airport operators AENA, with the German market – Lanzarote´s second largest – even recording positive growth for the first time this year.

The latest passenger figures from AENA reveal that the number of foreign tourists arriving on flights to Lanzarote fell last month by ‘just 8.17%’ - a figure almost half that of previous months this year, suggesting that there may at last be signs of optimism for the many overseas owners of apartments and villas in Lanzarote.

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Supposedly everyone that is selling their Spanish property is absolutely desperate to do so. They will all take offers……….silly offers of course, and they will open the doors to their properties in Spain day and night just to try and get rid of the things…….well, not exactly – there are still some vendors who actually opt to rent their Spanish property whilst still trying to market it for sale.

This is where things can get messy. Some owners who are trying to sell property in Spain, instead of leaving the property empty so that estate agents can get easy key access whenever they need to show it to a prospective buyer, actually prefer to rent the property to holidaymakers to benefit from the opportunities for the additional revenue.

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To all those ´clever´ people who thought that here in Spain we were sat around twiddling our thumbs while all you holiday-makers stayed at home in the UK – YOU WERE WRONG! I know you expected the Spanish costas to resemble ghost towns (I wish!), but if my experience of the Costa del Sol was anything to go by this summer, then I think we´ve just had ourselves a little boom!

I´ve spoken to 3 independent experts specialising in renting properties on the Costa del Sol – these guys are honourable, well-established people, so are ideally placed to assess occupancy levels in comparison to recent years.

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I suppose everyone watched the hour-long programme dedicated to the woes of the Spanish property market, broadcast last night on ITV.

“Paradise Lost” took a long look at several buyers who had all encountered terrible hardship after buying their dream home in Spain. Let´s look at the cases that were featured:

-    a middle aged gentleman who had bought an overpriced 2 bed apartment in an undeveloped area of the Costa del Sol during the height of the property boom. He had paid €250,000 euros, and he couldn´t sell the thing at €180,000 at auction.
-    A British couple who had bought a villa in Marbella and had been forced to move out as they were unable to afford the mortgage repayments.
-    2 buyers who purchased on a decidedly dodgy development on the Costa Blanca Continue reading »

The subject of pricing in Spain is very topical at the moment. I was talking to a few people yesterday who were all agreeing that it seems that most businesses here on the Costa del Sol, particularly restaurants and others in the food and drink industry seem intent on raising prices.

Having just returned from the UK, where it seems that every business is constantly having to think of ways to promote their goods and services by embarking on radical promotions and discounting, I am utterly amazed that here in Spain, the opposite seems to be true.

I´ve been told that this is a Spanish thing – i.e. their way of protecting their margins is to increase prices in the hope of attracting more revenue rather than discounting in the hope of attracting more customers.
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Within Spanish property urbanisations, the issue of security is undoubtedly the single biggest bone of contention. Some owners of properties in Spain will be fully in favour of a 24 hour security service, perceiving it to be a valuable benefit for residents´ peace of mind and the reputation of the development, others will only see the benefit of a nightime service, while others will be completely set against having any type of security service whatsoever.

The problem for many owners of Spanish properties is the cost. Think about it. Having 24 hour security effectively means that the owners will be paying the annual salaries of 3 security guards from their community fees.

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Most buyers of Spanish properties within communities love to have a view of the swimming pool within their grounds. This often particularly suits parents who can keep an eye on their kids from the comfort of their teraces, with their ice cold beer in hand, while little Johnnie and Rosie are trying to drown the neighbour´s kids in the deep end.

But bear in mind that if you are buying a Spanish property purely for the view of the swimming pool, all lit up beautifully at night, and you cannot stand kids, then you may be advised to steer clear of the place during July and August. This is the peak season for pool use in Southern Spain. For the rest of the year, the pool simply acts as a calm oasis, resplendent in all its glory.

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My advice when thinking of buying a Spanish property within a community of owners is as follows:

1.    Ask to see the budget and minutes from the last AGM
This will give you an insight into any problems that the community faces (i.e. any outstanding issues or unresolved lawsuits with the developers/builders) or any grumbles that the current owners may have (i.e. maybe the barking dog at Number 9 is a recurring theme - could be a problem if you are thinking of buying Number 10!)

2.    Take a look around the communal areas

If you think that any areas look tatty or in need of a lick of paint, ask your agent to find out if/when any remedial work is due. This will give you an idea of how seriously the owners take the upkeep of the community. Continue reading »

For the last 4 weeks, a good friend of mine has been renting a very plush ground floor apartment in Marbella. within one of the most renowned luxury developments on the Costa del Sol. On first impressions, it seems that he has the lot – 24 hour security, walking distance to plenty of amenities, stunning landscaped gardens, and an apartment that is as luxurious as it is spacious.

After just a month, he is seriously thinking of cancelling his 11 month rental contract with the landlord and the letting agent. The reason? He hasn´t had a decent night´s sleep since he moved in. Let me explain.

The problem is not the apartment in Marbella or the urbanisation, or indeed the specification or the location.

The problem is the guy upstairs. My friend´s neighbour on the first floor insists on wearing hard-soled shoes while walking around his apartment. Sounds innocent enough? Continue reading »