Taylor Wimpey España launches second phase of Sun Valley homes, as Spanish property market picks up

Taylor Wimpey España launches second phase of Sun Valley homes, as Spanish property market picks up

Spain ,
  • New build transactions exceeded 2019 levels in August and September 2020 (Valmesa Consultores)
  • Mediterranean Coast property prices up 2.7% since February (Tinsa)
  • Britons bought more homes in Spain than any other foreign nationality in 2020 (Colegio de Registradores)

Despite Brexit and Covid, Britons bought more properties in Spain than any other foreign nationality in 2020. They accounted for 1.48% of overall property sales, with total purchases by foreigners accounting for 11.3%, according to the Colegio de Registradores.

While the total number of sales inevitably shrank in 2020, it was the second-hand homes market that was the most heavily impacted. Nationally, home sales dropped by 16.7%, but for second-hand homes, that figure reached 18.7%. Sales of new build homes, meanwhile, dropped by just 7.3%.

In fact, according to analysis by Valmesa Consultores, the number of new build transactions in August and September 2020 surpassed those in the same months of 2019.

We’re seeing some very positive signs across the Spanish property sector right now, with demand and sales both increasing. Buyers are looking for a mix of key-ready, newly completed homes, as well as off-plan properties on new developments. With renewed interest in the market, prices in coastal regions are beginning to increase, making now a great time to buy before they rise any further.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Prices along the Mediterranean coast rose by 0.1% year on year in March 2021, according to Tinsa. However, the monthly increase since February stood at 2.7%, as buyers continue to gain confidence in the light of ongoing vaccination programme rollouts.

Increasing enthusiasm for overseas second homes was confirmed by recent statistics from A Place in the Sun, which found that 30% of people are now more motivated than ever to buy a property overseas. Of those looking at buying a property in Spain, 40% have their sights set on the Costa del Sol.

Leading Spanish home builder Taylor Wimpey España has been building along the Spanish Mediterranean coast for over 60 years. Most recently, the company has launched the second phase of homes at Sun Valley at La Cala Golf in Mijas, Malaga. With all but four of the key-ready homes in phase I already sold, Sun Valley’s second phase of stunning golf resort properties are available for purchase. Prices start from €251,000 plus VAT.

La Cala is Spain’s largest golf resort. It has a well-deserved reputation for the excellence of its facilities. Nestled between the sea and the mountains between Marbella and Fuengirola, the resort includes a hotel, restaurant, spa, golf club and academy, tennis court, squash court, fitness centre, running circuits and FIFA football pitch. All in addition to its three 18-hole golf courses.

The apartments at Sun Valley sit in a privileged position within the resort, at the top of the hill overlooking the Europa course. Their location provides buyers with panoramic views of the golf course and the sea, while all apartments are south or southwest facing for maximum enjoyment of the Spanish sunshine. Buyers also benefit from Sun Valley’s communal swimming pool and landscaped gardens.

The two- and three-bedroom apartments’ large terraces have glass balcony enclosures to make the most of the fabulous views. Interestingly, the April 2021 Savills report on homebuying trends in Spain found that those buying property in Spain prioritise having a good view more than any other factor. 94% of buyers ranked this as important, followed by 87% who were focused on having high-speed internet – also something that comes as standard at Sun Valley.

“We’re hearing from many buyers that it is peace and proximity to nature that they want right now. This means that golf developments such as Sun Valley are ticking all the right boxes. With international travel hopefully just weeks away from resuming, we’re busy providing virtual viewings and have taken a number of reservations following WhatsApp and Zoom tours.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

The Taylor Wimpey España team has been providing ‘live’ viewings via video call almost since the start of the pandemic, touring apartments and developments and even walking down to the beach. Calls last anywhere from 15 minutes to an hour.

For more information, please contact Taylor Wimpey España on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

Brits lead the charge to the sun as Taylor Wimpey España launches two new developments in April

Brits lead the charge to the sun as Taylor Wimpey España launches two new developments in April

Spain ,
  • British buyer snaps up first property at Essential in Jávea, Costa Blanca
  • New homes also launched in Port Verd, Mallorca
  • Demand for holidays to UK-friendly destinations increasing (Jet2)

In another sign that the resumption of foreign holidays is edging closer, leading Spanish home builder Taylor Wimpey España has launched not one but two brand new developments. 

With vaccination programmes underway and airlines adding new routes and additional capacity for this summer, many families are feeling confident once more about their longer-term holiday plans. Buying off-plan means that families who can’t travel right now can still enjoy planning for a future of building happy memories together overseas.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

That’s precisely what the first buyer at Essential in Jávea on the Costa Blanca can now do. The British buyer has snapped up the first of the 74 two- and three-bedroom apartments, which come with communal pools for adults and children and prettily landscaped gardens, just a 15-minute walk from the beaches and marina of Jávea.

Priced from €175,000 plus VAT, the apartments at Essential include spacious terraces with huge windows that blend indoor and outdoor living space beautifully. Privat rooftop terraces with hot tubs are available for the penthouse homes, offering a slice of sunshine-packed luxury at a superb price.

With supermarkets, a market, banks, restaurants, cafés, gyms, schools (state and international), a bus station and a post office all within walking distance, the homes are well-suited to year-round living, as well as holiday usage. They are due for completion in March 2023, providing families with plenty of time to look forward to using them once international travel is largely back to normal.

“We’re delighted to be able to provide buyers with a mix of properties to suit their differing needs. For some, that means providing homes that allow them to look a couple of years into the future and plan for anything from family holidays to retirement. For others, that means providing key-ready homes that allow them to enjoy the Spanish sunshine this summer, as soon as they can travel.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Over in Mallorca, Taylor Wimpey has also launch Port Blau this month. The high-end homes enjoy a superb location in Port Verd, on the island’s east coast, with direct access to the sea. Each home is filled with space and natural light, with ground floor apartments offering private gardens and penthouses coming with their own private sun terrace.

Port Blau also comes with communal gardens and a good size swimming pool. Homes face south-east in order to delivery plentiful sunshine throughout the year. The 10 three-bedroom homes are priced from €425,000 plus VAT.

The launches come as demand for international travel continues to build. A number of airlines have launched additional routes and seats for the summer 2021 season. Jet2, for example, has added over 50,000 additional seats as a “direct response to demand” for holidays to locations that are open to welcoming holidaymakers from the UK, including Spain.

“While we are still some way off from international travel operating as ‘normal’ once more, the industry is nevertheless preparing for a far better summer than last year. We’ve already seen a notable increase in interest from UK holiday home buyers, with leads up 116% YTD in March from British clients, compared with an increase of 73% across all nationalities. Brits are coming back in force.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information, please contact Taylor Wimpey España on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

Y Viva España! Travellers prepare for the green light as excitement to visit Spain builds

Y Viva España! Travellers prepare for the green light as excitement to visit Spain builds

Spain ,
  • Second homes surge anticipated as Taylor Wimpey España reports 116% rise in UK leads
  • UK offering more summer flights to Malaga than any other country (Costa del Sol Tourism)
  • 93% of young adults report an increased desire to travel (Topdeck Travel)

It’s nearly time to pack the sun cream once more. The UK government is poised to announce the resumption of international travel, with details of its traffic light system eagerly awaited. The announcement is expected to lead to a huge wave of travel bookings, as pent-up demand for sunshine and international culture is finally released.

The news of travel resuming will come as a welcome relief for the travel industry and many associated sectors. Leading Spanish home builder Taylor Wimpey España points out that the Spanish second homes market will be one beneficiary of the resumption of international travel.

The news that Britons can head to Spain for their holidays once more will be very welcome. We’ve been in contact with a number of families during this latest lockdown who are itching to come and check out our second homes in person, having already completed virtual viewings and video tours. We’re expecting a very busy summer once families can finally put their plans into action.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Travel industry experts are anticipating plenty of bookings when Britons are finally allowed overseas once more. One firm – Topdeck Travel – anticipates considerable movement around the globe from younger travellers. The company recently reported that 93% of young adults that it surveyed have an increased desire to travel as a result of the pandemic and lockdowns.

Meanwhile, Costa del Sol Tourism has flagged up the UK as offering more flights to Malaga than any other country between May and July, with seats available for 615,000 passengers between Malaga and 15 British cities.

For those who’ve already sated their wanderlust in their youth, second home ownership in a favourite destination is the perfect way to enjoy holidays as they grow older. Space, sunshine and safety are now the top priorities, according to the Taylor Wimpey España team. The firm has just reported an increase of 116% YTD for UK leads in March, signalling a solid rise in interest in second home ownership now that the country is getting close to the resumption of international travel.

“Plentiful space has become a key priority as a result of the pandemic. In particular, flexible space, which can suit working from home if need be or that can be used as leisure space at other times. Families also, of course, want to feel safe, which is why owning a second home can seem so much more attractive than booking a hotel stay right now. It offers a far greater degree of distance and privacy.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Taylor Wimpey España’s new Ikat development in Mallorca has been designed with space and comfort firmly in mind. Based in the heart of the traditional town of Ses Salines, the homes are ideal for year-round living as well as regular holidays. They provide easy access to all of Ses Salines’ amenities, while still enjoying a resort-style pool and landscaped gardens. Priced from €260,000 plus VAT, the homes include two-bedroom/two-bathroom apartments, penthouses and duplexes, all of which come with a private garden, a solarium terrace or both. Three homes have already sold since the development launched in March, with a number of other sales expected to finalise in the next few weeks.

Ikat is ideal for families looking to foster a meaningful connection with Mallorca and the island’s traditional way of life. Away from the crowds of tourists, the homes provide an authentic Mallorcan living experience. The development’s exterior has been designed to fit beautifully with the local colours and architectural styles of Ses Salines. Interiors, meanwhile, showcase high quality, contemporary finishes. Living rooms that open onto terraces, while integrating kitchen and dining areas, provide a sense of spaciousness while flooding the homes with natural light.

“We’re excited to be able to offer a slice of authentic Mallorcan atmosphere at Ikat. Even the building’s name is traditional – it refers to the ancient textile dyeing technique for which the island is known around the world. Homes at Ikat have been built with post-pandemic family needs in mind. They are ideally suited to changing travel patterns and usage trends.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information, please contact Taylor Wimpey España on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

Not even the pandemic can crush homebuyers’ love of Mallorca

Not even the pandemic can crush homebuyers’ love of Mallorca

Spain ,
  • Foreign buyers account for 32.65% of all Balearic Island sales (Registradores)
  • Taylor Wimpey España reports 42% increase in leads
  • Ryanair includes Mallorca as key focus for summer schedule  

Leading Spanish home builder Taylor Wimpey España has announced details of its newest launch: Ikat, in the picturesque town of Ses Salines, on Mallorca’s southern coast. The launch comes as figures from Registradores de España show that not even the pandemic can crush foreigners’ love for the Balearic Islands. In Q4 2020, foreign home buyers accounted for 32.65% of sales, compared with 10.73% for Spain as a whole.

“All eyes are on Mallorca as we wait for confirmation on how soon international travel can resume. Interest from foreigners and travellers from mainland Spain is up, so we are delighted to be launching such an interesting new development at this particular time.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

British interest in Spanish property is up by 24% YTD when measured in terms of Taylor Wimpey España’s website visitors, while interest from Germany has doubled in 2021. Overall leads are up by 42% YTD. 39% of those leads hail from the UK.

Kyero, meanwhile, reports an increase in visitor enquiries from the Netherlands, Germany, Belgium, Ireland and Switzerland by up to 48.4%. Most notable has been a huge surge in interest from 18-34-year-olds, as the pandemic and the wider acceptance of remote working impact property buyer behaviour.

In terms of demand from within Spain, it’s telling that Ryanair (Spain’s leading airline) has just launched nine new routes, three of which are to Mallorca: Mallorca-Zaragoza, Mallorca-Santander and Mallorca-Tenerife Norte. The airline has also scheduled an additional four flights per week between Mallorca and Valencia.

In the midst of this booming interest in Mallorca, Taylor Wimpey España has launched a small and exclusive collection of ground floor apartments, penthouses and duplexes just metres from the centre of Ses Salines. Ikat’s apartments provide private gardens for the ground floor homes and spacious solarium terraces for the penthouses, while duplexes come with both. Many of the homes provide magnificent views of the sea and the island of Cabrera from their terraces.

Ikat has been developed in the traditional Mallorcan architectural style, meaning that the homes integrate beautifully into the surrounding scenery. They surround a generously sized pool, with plants, flowers and mature trees adding to the charm. Priced from €260,000 plus VAT, each apartment has two double bedrooms, a fitted kitchen and two bathrooms, while duplexes have an additional guest cloakroom. A storeroom and outdoor parking space are included with each home.

“Every element of the design at Ikat has been considered with buyers’ priorities in mind. Our focus has been on providing the maximum amount of space and comfort within each apartment and duplex, giving buyers the room they need, both indoors and out. With prices on the rise in Mallorca, now is the ideal time to buy a home on this beautiful island.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK, you will need to call 00 34 971 706 972.

How to buy a Spanish second home at below market value

How to buy a Spanish second home at below market value

Spain
  • Financial crash fallout still being felt, leading to opportunities for buyers
  • CostaLuz Lawyers negotiating unique solutions between sellers, banks and buyers
  • Spanish house prices still 32% (inflation-adjusted) below peak (Global Property Guide)

Despite it being now nearly 15 years since the global financial crisis, the fallout is still being felt in the Spanish property market. Property law specialists CostaLuz Lawyers report that many homeowners continue to pay eye-watering mortgage payments for properties that have devalued by as much as 40%.

Figures from the Global Property Guide’s January 2021 update on Spain show that nationally the country’s house prices are around 23% below peak levels – or 32% below when adjusted for inflation. In coastal areas where prices soared in the boom years, this figure can be much higher. 

“We’re working with a number of property owners who are in negative equity and looking for a quick exit from their property ownership. Rather than getting to the point of repossession by the bank – which neither the owner nor the bank wants – we are acting to find buyers to step in and purchase the property. With the right legal arguments, we’ve found that many banks are willing to accept a buyer at prices below market value in order to progress a sale and avoid repossession.”

Keith Rule, www.costaluzlawyers.com

For buyers these days, prices and interest rates are a totally different story than they were during the boom years. Those seeking second homes, or even primary residences, in popular tourist areas have some superb deals available when they buy using the CostaLuz Lawyers service.

For sellers and banks, the service usually provides the only solution other than repossession. With property values below the level of the outstanding mortgage debt, sale on the open market is not a realistic option. However, an easy sale, presented by legal property experts making just the right arguments, can work for all concerned.

“We’ve been negotiating these kinds of deals between sellers, banks and buyers since 2012. With nearly a decade of experience in this area, we are well placed to help buyers achieve the prices they need. This frees sellers from their negative equity position and saves banks the time and expense of repossessing and then selling the properties themselves. We would certainly encourage any buyer looking for particularly good value to consider this route into Spanish property ownership.”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es

Is a buying a Spanish ghost town the ultimate social distancing project?

Is a buying a Spanish ghost town the ultimate social distancing project?

Spain
  • Rural hamlets and unfinished developments provide plenty of choice for buyers looking for a project
  • CostaLuz Lawyers warns of the importance of checking legal and practical details before committing to buy
  • Planning permission, licences and zoning all need careful attention

The Covid-19 pandemic has made many city dwellers reassess their relationship with all things urban. In June and July 2020, buyer inquiries to Rightmove from those living in cities shot up by 78% compared to the previous year. The number of people considering properties in village locations, meanwhile, was up 126%.

It’s not just villages in the UK that are attractive to buyers looking to escape city life right now. According to the property experts at CostaLuz Lawyers, Spain has much to offer when it comes to escaping the pandemic, particularly for those looking to detach from urban life in a more substantial way.

“Spain is home to around 1,500 abandoned hamlets due to significant rural depopulation over the past couple of decades. These offer a fascinating opportunity for property buyers who want to opt out of city life and reconnect with the land. And with so many hamlets available, the prices can be really quite attractive.”

Keith Rule, www.costaluzlawyers.com

Rural depopulation is a big issue in Spain, where over half the country has a population density of under 12.5 inhabitants per square kilometre. Prime Minister Pedro Sanchez reports that, “Half of Spain’s municipalities have fewer than 1,000 inhabitants, and a large part of our territory is at risk of depopulation.” As such, abandoned hamlets – of ‘ghost towns’ can be found dotted across the country.

But buying your own Spanish ghost town isn’t just about ancient farmhouses that are slowly crumbling in idyllic rural locations. When the global financial crisis hit, a swathe of developers across Spain went bust, leaving housing projects of all shapes and sizes unfinished. Some have little more than foundations in place, but others are almost finished. Most are now owned by the banks that took them on from bankrupt developers. As the sites are too expensive to demolish, most are just sitting unfinished, with nothing having happened since workers downed tools when the financial crisis began to bite.

“There are various options available if you want to purchase multiple properties in Spain at a majorly discounted price. In most cases, you’ll be taking on a project rather than a completed set of dwellings, but for buyers who are looking for something unusual some of the opportunities are really interesting.”

Keith Rule, www.costaluzlawyers.com

The CostaLuz Lawyers team warns, though, that it’s important to examine both the legalities and the practicalities of your purchase before committing to anything. First and foremost, there are matters around planning permission, licencing and zoning to consider. Many rural properties, for example, may have been built without the correct permissions in place. This means you might be ordered to tear them down. Others will have restrictions in place on the scale of renovations that you’re allowed to undertake due to protections on the character or nature of the dwellings.

Zoning has its own quirks. You might have a country spa or a glamping business in mind, but if the land is zoned for rural use then you might find yourself needing to run a farm instead. Even residential use might be out of the question without keeping a few sheep or growing a couple of crops on your land.

In terms of practicalities, the CostaLuz Lawyers team warns buyers never to make assumptions. It’s all too easy to take utilities – water, energy, broadband – for granted, but some abandoned hamlets don’t provide access to all of these. Some don’t even come with the potential for such connections.

There are other risks too, so it’s essential to look at the property transaction from all angles. Getting seven or eight houses and various outbuildings for under €100,000 may seem attractive initially, but if the legal and practical details don’t stack up, the potential can quickly unravel.

“The final element to consider is your exit strategy. Owning a village that’s a major project might be your dream right now, but what happens if you need to sell it suddenly or unexpectedly? With an estimated 3.4 million unoccupied properties in Spain, it could take years to find another buyer. It really is essential to check every aspect of such a purchase before committing. That said, if you find the right property and enjoy a challenge, buying a Spanish ghost town might just be the ideal social distancing project.”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es

Taylor Wimpey España reports surge in Brits seeking Spanish Golden Visas

Taylor Wimpey España reports surge in Brits seeking Spanish Golden Visas

Spain ,
  • Buyers with €500k to spend can pick up residency along with their property
  • Brexit pushing more Brits to consider the Golden Visa route into the Schengen Zone
  • Working from home on the terrace ‘infinitely more desirable’ due to pandemic

Leading Spanish home builder Taylor Wimpey España has reported a surge in enquiries from British families seeking Spanish residency through the country’s Golden Visa scheme. The firm believes that both Brexit and the pandemic are playing a role in the rise.

A Spanish Golden Visa provides not just residency in Spain but also access to the rest of the Schengen Zone. It’s something that Britons haven’t had to worry about previously, but Brexit has driven a notable rise in enquiries from families seeking to use a residential property purchase to maintain access to the Eurozone. The fact that working from home on a terrace in Spain has become infinitely more desirable due to the pandemic is also likely to be pushing some families down the Golden Visa route.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

The Golden Visa scheme allows an individual investing €500,000 or more in either residential or commercial property to obtain a one-year resident visa in order to purchase a home in Spain. They must travel to Spain at least once during that year. Next, they can apply for an investor’s residence authorisation, which is granted for two years and can be renewed for a further five. After five years, the buyer can apply for a residency permit.

The buyer must maintain the property investment throughout this period/process and comply with a number of other requirements. These range from a lack of criminal record to having health insurance that can be used in Spain. They also need to have enough funds to cover the person applying and their family for the term of the residency.

Family members included in the Golden Visa scheme include the property buyer’s spouse, any children under the age of 18, any adult children classed as dependents for physical or mental health reasons and any dependent elderly parents.

“The breadth of the definition of ‘family’ under the Golden Visa is particularly generous. This is another reason why so many property buyers are keen to find out more about whether they are eligible and how they can access the scheme.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

Sterling’s rise in value against the euro is playing into the situation as well, with buyers at the time of writing able to get significantly more for their money than they could at the start of 2021.

One interesting element of the Spanish Golden Visa is that the investor can split their purchase across multiple properties. They could, for example, purchase a home for themselves and one to use as a source of income.

Key-ready homes at Sun Valley, for example, at the Costa del Sol’s hugely popular La Cala Golf Resort, are available from €251,000 plus VAT. This means that a buyer purchasing two of the apartments, which come with panoramic golf and sea views, spacious terraces and use of a lovely communal pool, would be eligible for the Golden Visa scheme.

The same is true for buyers of more than one property at Pier 2, in Cadiz. Taylor Wimpey España’s Marc Pritchard reports multiple buyers at the development purchasing two homes, in order to transform them into one giant apartment, with flexible space that can be used for anything from home offices to guest rooms. Key-ready homes at Pier are available from €342,000. The properties enjoy superb views of Sotogrande’s marina, while the private, gated community also provides pools and garden areas.

Golden Visas in Spain were launched in 2013 and more than 24,500 were granted between then and early 2020, including over 8,000 in 2019 alone – a 22.6% increase on the year before.

“The Golden Visa scheme was conceived as a means of attracting non-EU foreign investment into Spain. It’s interesting to see that it is now serving the additional purpose of providing a route into the Eurozone for British families. This is certainly a key consideration for a rising number of our clients from the UK.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

Trapped in your timeshare? CostaLuz Lawyers offers fresh hope to burdened families

Trapped in your timeshare? CostaLuz Lawyers offers fresh hope to burdened families

Spain
  • Many clients still paying maintenance fees for illegal and unwanted timeshare contracts
  • Issuing a legal statement on the client’s rights is often sufficient to cease payments
  • Spanish law supports buyers’ interests when it comes to timeshare purchases

“We often think of timeshares as an issue of the past, but there are still so many families who are trapped in them and either don’t want them or can’t afford them. What’s most shocking is that many of those families are trapped in their contracts illegally. We have a good deal of experience of this and want to let people know that they may be able to take action to get out of such schemes.”

Keith Rule, www.costaluzlawyers.com

Timeshares took off as a way for multiple individuals to share the rights to use a holiday property back in the 1960s. By the mid-1970s the business model was well-established and increasingly popular in both the US and Europe. Globally, the industry continues to expand, with MarketWatch reporting the global vacation ownership (timeshare) market to have a value of USD 15620 million in 2019. That figure was projected (as at December 2020) to rise to USD 25720 million by the end of 2026.

However, the history of timeshares has been littered with scandals, as well as with treasured holiday memories. Between mis-selling and families becoming trapped in unsellable contracts, timeshares have caused plenty of distress over the years. The cross-border nature of the timeshare transaction process has also caused issues.

“Timeshares make a very interesting study from a legal perspective. The number of abusive, corrupt companies located in tax havens that are involved is truly eye-opening. Thankfully, case law is very much on the buyers’ side, at least in Europe where a Directive on timeshares has supported buyers’ interests.”

Keith Rule, www.costaluzlawyers.com

According to CostaLuz Lawyers, Spanish law has established that if the timeshare complex is in Spain, then Spanish law governs the contract. The law in Spain relating to timeshares has changed twice in recent years. Law 42/1998 was enacted to protect buyers. Then, in 2015, the Spanish Supreme Court ruled that any contract lasting for 50+ years (including all those ‘in perpetuity) and signed after 5 January 1999 was illegal, as all such contracts had to be for 50 years or under.

For those stuck in timeshare contracts that they can’t afford or simply don’t want, the CostaLuz Lawyers team advises investigating the available options. The number of contracts that Spanish judges have ruled are null and void means that many owners do have a choice about remaining in their contracts.

“In many instances, all it takes to get clients out of the illegal timeshare contracts in which they are trapped is the issuing of a legal statement in relation to the null character of the contracts, along with cessation of maintenance fee payments. Very few timeshare companies take the matter any further. At the other end of the spectrum, very few sign a settlement agreement, either. Most simply leaving the matter un-concluded but with contract holders no longer having to pay.”

Keith Rule, www.costaluzlawyers.com

In the CostaLuz Lawyers’ team’s experience, this situation is just fine with the majority of those seeking to escape their illegal and/or burdensome timeshare contracts. Most don’t have the will to pursue the timeshare company to claim back the amount they’ve invested, despite there being scope in Spanish law for them to do so. Instead, the majority of clients simply want to stop paying their maintenance fees and forget about the issue entirely.

While there is occasional pushback from one of the timeshare companies, this is usually swiftly dealt with through a reiteration of the client’s rights and the relevant case law.

 “Unwanted timeshares don’t have to be the millstone that those forced to make regular maintenance payments might assume. It’s always worth finding out if the option to escape the contract exists.”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es

Pent up demand from British tourists ready to give Spanish golf sector a major boost

Pent up demand from British tourists ready to give Spanish golf sector a major boost

Spain ,
  • Buyers looking for golf homes with private outdoor space, pools and flexible internal areas (Taylor Wimpey España)
  • Single-family homes account for record-breaking 20.43% of transactions (Q3 2020)
  • Palma Tourism Board “confident” that British visitors will be some of earliest to return

Popular tourism destinations such as Spain have been hit hard by the COVID-19 pandemic, but hopes are high that pent up demand from British holidaymakers will provide a significant boost this summer.

Spain’s golf industry, in particular, is eyeing up demand from British golfers. The sector is responsible for 120,000 jobs (direct and indirect) and the generation of nearly €13 billion, including €777 million in direct income from golf courses and €4,640 million in spending by golf tourists. As such, golf is a major player in Spain’s tourism offering, with 1.2 million golfers travelling to enjoy Spain’s fairways each year (2020, obviously, being a notable exception).

“Think of Spain and you immediately picture sunny beaches, great food and wine and world-class golf courses. Being able to spend time on the fairways year-round is an intrinsic part of Spain’s appeal. Not being able to visit Spain and play has been distressing for all those who enjoy golf as a way to stay fit and healthy and to spend time outdoors in beautiful natural surroundings.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

British players are certainly missing golf – so much so that design and build firm Oakbridge Bespoke recently reported an increase in interest from clients wanting golf simulators in their own homes. Of course, even the fanciest of simulators can’t beat the feel of being out on the fairway, but it is hoped that British golfers won’t have to wait too much longer to do so. According to Pedro Homar, Director of the Palma Tourism Board,

“With the rate in which the UK is rolling out the vaccination, we are confident that the UK market will be one of the first to return to Palma… In terms of timings, we expect the UK market to return from around May onwards.”

Golf in Spain comes with a surprisingly affordable price tag. Indeed, the Golf Travel Centre recently worked out that the average Brit doing Dry January would save £343 from missing nights out (pandemic aside). That’s enough for a long weekend at the Costa del Sol’s stunning La Cala Golf Resort.

For many golfers, though, the odd weekend here and there just isn’t enough. They are looking for golf properties where they can play golf all year round, enjoying the lush greenery, sea views and abundant sunshine that are so good for mental as well as physical health. As such, many seek to buy golf properties that they can use whenever suits them.

The pandemic has, of course, impacted the kind of homes that golfers in Spain are seeking. According to leading Spanish home builder Taylor Wimpey España, buyers are looking for spacious terraces, communal areas and swimming pools as their top priorities (alongside access to first-rate golf facilities, of course). Open, flexible spaces within the home are also important, with many buyers now incorporating working from home in their plans for the way they will use their golf property. The option to practice other outdoors sports has also moved up buyers’ priority list, with socially distanced outdoor activities holding even more appeal than previously.

As in the UK, demand for rural and coastal area homes has increased, while more densely populated cities have fallen out of favour. Not only that, but buyers also looking for individual villas and townhouses, rather than apartments. The Association of Property Registrars, Movable Property and Mercantile of Spain report that the sale of single-family homes accounted for 20.43% of total transactions in Q3 2020 – the highest recorded percentage for this type of property.

“Single-family homes in quiet locations, with easy access to golf and other outdoor sports are experiencing strong demand right now. Buyers are looking for plenty of their own outdoor space, in addition to communal areas and shared pools.”

Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España

In the Costa Blanca, where prices increased by 2% in 2020 despite the pandemic, according to Fotocasa, it is newly built, private developments that are turning buyers’ heads. At Kiruna Residencial, for example, just one key-ready home remains for sale, priced at €191,000 plus VAT. A further development in the area, Kiruna Hills, has properties available off-plan, priced from €193,800.

The three-bedroom, two-bathroom home at Kiruna Residencial boasts a 50 m2 roof terrace, a 26 m2 garden and a further terrace of 14 m2. The development offers views of the spectacular Sierra de las Aguilas Mountains, as well as Elche’s Alenda Golf, in which the property is located. Residents also benefit from a communal swimming pool, an array of landscaped gardens, a supermarket and a club house. There’s even a bilingual English/Spanish school for families looking to settle more permanently.

The Costa del Sol is, of course, renowned for its golf courses and Taylor Wimpey España’s Green Golf has everything that buyers are looking for there. Available from as little as €299,000 plus VAT, the frontline golf townhouses face southwest to make the most of the plentiful sunshine. The three bedroom, three-bathroom homes, which are ready to move in to, have large terraces that are ideal for outdoor dining, and make up a private, gated community with communal gardens and pools at Estepona Golf.

With Palma’s tourism director ‘confident’ that UK holidaymakers will be some of the first to return to Mallorca, many golfers are also eyeing up properties there as both potential second homes and main residences. One popular development is Canyamel Pins, just a few minutes’ walk from the beach at Canyamel and the Canyamel golf course. The two- and three-bedroom homes, with have large terraces for enjoying the unbeatable Mediterranean climate, are available from €335,000 plus VAT.

For more information please contact Taylor Wimpey España today on 08000 121 020 or visit https://www.taylorwimpeyspain.com/. If you reside outside of the UK you will need to call 00 34 971 706 972.

How to buy a home in Spain safely during lockdown

How to buy a home in Spain safely during lockdown

Spain
  • British appetite for holidays and second homes in Spain remains strong
  • CostaLuz Lawyers walks buyers through safe online buying practices
  • Pre-foreclosure purchases deliver savings of up to 60%

The Covid-19 pandemic has done little to quell the long-term British love for Spain. In fact, the idea of lounging on a beach in the sunshine holds a great deal more appeal when it is so far out of reach. As Spanish tourism board officer in London, Javier Piñanes, recently pointed out:

“There is a strong desire to travel on the part of the British and they emphasize that Spain is the destination they want to travel to, it is their top destination for holiday.”

Nor is it just holidays that Brits are dreaming of during lockdown. Recently reported figures from Taylor Wimpey España observed an increase of 39% in website traffic during the first week of 2021, compared to the same week a year earlier.

But with travel restrictions in place that, currently, have no end in sight, how can British buyers turn their dream of holiday home ownership into reality?

According to CostaLuz Lawyers, with the right safeguards in place, it is perfectly possible to buy a Spanish property safely online during the lockdown. While buyers can’t visit the property and the local area in person, they can research to their hearts’ content online. Key to doing so safely is to engage an independent lawyer early in the process.  

 “The right lawyer can be invaluable in terms of helping you choose a Spanish property. They can help you to work with reputable, honest and reasonably priced agents, arrange a surveyor, check all required paperwork is in place and do the conveyancing and post-sale work. Not only that, but your transaction will be covered by the law firm’s professional indemnity insurance and title insurance, for added peace of mind.”

Keith Rule, www.costaluzlawyers.com

Locating the right agent through whom to buy is half of the battle. Plenty of British buyers have been burned attempting to buy property in Spain before now. The CostaLuz Lawyers team can attest to this. They have won almost 850 claims from Spanish property developers and banks, with many cases brought by buyers who paid substantial deposits during the pre-crash years, but never received a completed property. Many of these cases are still working their way through the courts now, some 10 to 15 years after the deposits were lost – in 2020, CostaLuz Lawyers won 51 cases for a total of 76 clients, despite the shutdown and reduced operation of the Spanish legal system for extended periods during the year.

These cases highlight how essential it is to find the right agent, which is something that an independent property lawyer can assist with. Not only that, but the right legal representation can also open doors to potential cost savings. CostaLuz Lawyers, for example, operates a service that connects British owners of negative equity homes in Spain – those who are facing foreclosure in the near future – with buyers in the UK. The service enables the seller and buyer to agree a below market value price that avoids foreclosure, keeping everyone happy (including the bank). In some cases, this service has seen buyers pick up homes for around 60% of the price paid for them back in 2007.

“Buying during the pandemic means finding new ways to view properties and engage with the purchase process. It can also deliver some excellent bargains. And what better way to finally celebrate the lifting of travel restrictions, whenever that may be, than to visit your new holiday home?”

Keith Rule, www.costaluzlawyers.com

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, call +34 956 092 687 or you can visit www.costaluzlawyers.es