Month: March 2007

Spain is still top overseas property destination

Homes in Spain remain a British overseas investment favourite Spain is still the top overseas property investment location according to a new report. In its twice-yearly in-depth look at overseas property investment, Moneycorp finds almost twice as many Brits are looking to buy property in Spain than France. The foreign currency specialist reports 30 per… Read more »

Financial services for immigrants in Spain

BBVA Bank to open special branches just for immigrants The BBVA bank has decided to take maximum advantage of its branches by splitting the activities that are carried out in them. It has plans to open 30 ‘duo’ branches. Each of these offices will operate like a normal bank in the mornings and in the… Read more »

AIPP report: International Property Market 2006

‘In 2006, Britons spent nearly £20 billion on overseas property yet most of the figures produced about the market are made up by companies trying to sell property,’ said Paul Owen, chief executive of the Association of International Property Professionals (AIPP). ‘In a market of this size, it is incredible that no reliable statistics have… Read more »

Travel and Tourism spend exceeded $6.5 trillion in 2006

Projections show that 15 million tourists to visit Dubai by 2010 The number of hotel rooms will also grow to 110,000 by 2016, said Ahmed Ramadan, managing director of Roya International, a Dubai-based hospitality consulting company, “In 2006, 28.7m passengers passed through Dubai International Airport while 6.44m guests stayed in Dubai’s hotels,” he pointed out…. Read more »

Spain still the number one choice

The rapid rise of Bulgaria in overseas home hunters’ hearts has led to enquiries for cash to purchase properties in the Eastern European country almost overtaking France. A new report by foreign exchange specialist Moneycorp said 12% of enquiries for funds to purchase a property abroad over the past three months were for Bulgaria –… Read more »

Quarter of UK first time buyers want to buy overseas

The latest Quarterly Savings Survey from National Savings & Investment indicates that one in four UK first time buyers would buy overseas to save up for a house in the UK. The Quarterly Savings Survey asked more than 1,000 people who do not own or are not currently buying their own home if they would… Read more »

New overseas mortgage website for intermediaries launched

Barclays has launched a new website to provide the intermediary market with ‘bespoke online tools’ to advise their clients on the overseas mortgage market and sell euro mortgages in Spain, France, Italy and Portugal. The site, at www.barclays.com/buyingabroad-intermediaries , is designed to make it easier for intermediaries to do business in the growing overseas mortgage… Read more »

Place in the sun turns to pension in the sun

Nearly 50% of second home owners have invested in an overseas property as part of their pension plan, compared to 24% investing in a UK property… – 1 in 3 people pay cash for their overseas properties – 1 in 5 finance their overseas property through a mortgage with a European bank, compared to just… Read more »