Spain number one for buy-to-let property
Spanish Property Investment Advice
Brought to you each week by our property expert, Iain Maitland.
Posted on 24 February 2006
Spain #1 For Buy-to-Let Property Investment
Spain is Numero Uno in the latest overseas buy-to-let chart for UK investors! Just-out stats from the Office of National Statistics reveal that more UK property investors are heading for Spain than anywhere else. Spain is even beating the hot European destinations of Bulgaria and Romania.
More than £23 billion was spent on foreign property investments last year with Spain the top destination. 257,000 UK investors now own a second home abroad. Overseas investment has risen by 45% since 2002. It all goes to show that the doom and gloom merchants were totally wrong about the impact of the SIPPS U turn at the end of last year!
Probably the most common question asked of me is this, "Who is the best foreign
currency provider?" The Sunday Times has just completed its latest survey of banks and currency companies. Their findings? HIFX was found to be the best foreign exchange rate provider. That is consistent with feedback I get from property investors. The web site is at www.hifx.co.uk On this same subject, we have just produced an article for UK home-owners who are interested in foreign currency mortgages. This is free to anyone who joins the free daily email service at www.internationalpropertyalerts.co.uk and then emails me for it at Imaitland@aol.com
The big story in Spain this week is still water which is perhaps not surprising given the drought last summer. I know some developers of golf resorts are being pressed hard to show that they can recycle 75% of the water they use for irrigating their courses. Other developers have been having trouble too. Polaris World has had a 12,500 unit Condado de Alhama project turned down by the Alhama town hall, It has now come back with some scaled down plans. I am currently doing some research into golf lets in Spain and we hope to have an article for you on this in a week or two. Keep reading!
Until next week,
Warmest Wishes
Iain Maitland
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