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A EUROPEAN COMMISSION report says that house prices are overvalued in several EU member states including Spain and predicts they will fall. The EC notes that ‘house prices grew strongly in 2022 overall, but over the course of the year the price of real estate began to decelerate’. “In most Member States, during the pandemic...

EVER thought about moving abroad? GB News has lauded Spain’s cheapest town, but failed to mention the numerous reasons why even locals are leaving.  Many Brits dream of moving to sunny Spain thanks to its warm weather, relaxed lifestyle and friendly locals.  But if you decide to save a few pennies and move to Spain’s...

THE property market in Spain is not heading for a crash next year, a leading estate agent boss has insisted. Sean Woolley, CEO of Cloud Nine properties, says the market on a national and local level has cooled in 2023, with some prices dropping, however this has not resulted in a crash. The price drops...

A NEW hotline will allow people in Gibraltar to report ‘empty or abandoned’ governmental rental flats to its housing department. The move is part of what Minister for Housing Pat Orfila called ‘no-nonsense approach to getting the job done of helping people’ in a government statement. Orfila said she was ‘determined’ to solve the problem...

THE Vietnamese investor at the heart of some of the largest construction projects in Gibraltar’s history picked up awards at the 2023 Bank of the Year awards with Gibraltar ministers. TNG Global Foundation founder Tuan Tran insisted on having Chief Minister Fabian Picardo and Financial Services Minister Nigel Feetham at the event. The businessman got...

ALMOST half of Andalucia homeowners looking to sell their properties expect to be able to sell them in less than three months- despite the reality that on average in Spain it takes five months to seal a deal. The 44% regional figure comes from the Tiko property portal- a company founded in 2017 that uses...

AS SPAIN’S real estate sector continues to contract for domestic buyers due to higher interest rates, foreign purchasers are getting a higher percentage share of the property market. According to figures from the Property Registrars for the period between April and June 2023, non-Spanish residents represented 14.94% of all home purchases in the country- one...

HIGH interest rates are continuing to reduce the number of new home mortgages, with a 29.6% annual fall in September. Figures released on Tuesday from the National Institute of Statistics showed 31,054 loans were granted two months ago as interest rates averaged 3.26%. The figures are compared to 2022, which was a boom year, and...

A BRITISH retiree has transformed a rundown farm house in southern Spain into a stunning two-bedroom home. Michelle Garrod, 58, bought the centuries’ old building in Fornes, Granada, for just €45,000. The former Lloyds financial adviser, from Bristol but based on the Isle of Man, spent around the same on construction works over the past...

FOREIGN home property buyers accounted for 21% of Spanish sales in the first half of 2023, according to the College of Registrars. Although the foreign sales fell by 7.5% in the first half of the year to 67,983 transactions, the drop was far higher for Spaniards after higher interest rates. British buyers dominated the foreign...