Asesoría Juan Pérez

Spain, still a good choice for a second home

Luxury home, Málaga

SPAIN The Wealth Report, which describes itself as 'a global perspective on prime property and wealth', has for the last five years reported on investment tendencies among some of the largest fortunes in the world. Investment still centres on London, New York, Beijing, Paris, Shanghai and Singapore, mainly because they are perceived as the most attractive, fortune-wise, as well as the centres of political and financial power - at least for the next ten years. So where is Spain in all that? In the 68 pages of the report, Spain turns up again as one the millionaires' favourite places to buy a holiday home. It also makes distinctions among options to buy a second home of buyers from North America, Latin America, Europe (including Russia), Africa, Arabs and Asians. Overall, Spain is fourth on the favourites list, after the US, UK and France; and second on the list of Latin American super-rich, second only to the US. Among Europeans, Spain is fourth, followed by the UK, France and the US. The most costly square meter in Spain is in>>>

Foreign investment in Spain hit with big downturn

SPAIN The international media is full of references to Spain's economy, none of it good. So it is not a surprise that foreign investment has dropped dramatically after an eight-month downward trend. The latest figures available are for February 2012, according to data released by the Bank of Spain on Monday. A net €128.655 billion has been pulled from the country by international investors since July last year. The figure for February alone was €25.548 billion. According to a report in El País, an employee for the Pimco European fund manager, says that Spain's is the first price "you look at every morning, no doubt.">>>

Gibraltar invested €33.2 million in Andalucía in 2011

GIBRALTAR / SPAIN (Agencies) Gibraltar invested a total of €33,200,000 in Andalucía during 2011, according to the country's Ministry of Economy and Competition. The Rock is outdone only by the UK (€131.1m), Luxembourg (€114.1m) and the Netherlands (€46m). Other interesting Gibraltarian investments: Denmark (€16.8m), Switzerland (€14.2m) and Belize (€11.4m). However, investment in Andalucía from outside the region was down by 61.68%, compared to the same period last year. The cause for that figure is principally owed to the downturn in the construction industry and related businesses such as real estate development, building materials including metallurgy and fabrication, as well as water, electricity and gas production, among others. Andalucía's investment abroad was also down by 21.36% year on year, to a total of €538.8m. Investment went mainly to Brazil, USA, Luxembourg and Argentina. PLEASE BE AWARE THAT ITEMS SUCH AS THIS MAY BE SUBJECT TO SUBSCRIPTION IN THE FUTURE but you can make a donation NOW, too! Please click here for more information on how to help us continue.

European Commission approves new Mediterranean Railway Corridor

An approximation, no details

SPAIN (Agencies) The Campo de Gibraltar came alight yesterday when the European Commission announced its decision on the future design of what is being called the Railway Corridor (though it involves more than just railways). The new design, which will probably end up being called the Mediterranean Corridor by the media, is scheduled to link Algeciras with the East coast of Spain and on to the rest of Europe, for which plans are also in the making. According to one Costa del Sol paper, the redesign does nothing for them as it bypasses the coast, which has disappointed the mayors there, who had hoped to use European finance to link up their towns, particularly Marbella and Estepona by rail. But the plan approved yesterday by the EC starts in>>>

Property investors become reluctant landlords in credit crunch

Property owners in Spain who are renting out their properties because they cannot sell them due to the country’s depressed real estate market are increasingly experiencing problems with bad tenants hit by the economic downturn. The number of defaulting tenants and evictions have tripled in the past two years, it is claimed in an article in Property Wire. Many of those who are having problems are expats  who moved to Spain for a better lifestyle and then became reluctant landlords because of the credit crunch, according to Paragon Advance España, part of the Paragon Advance group of companies offering tenant referencing and rent warranty in Spain.>