Sites to Visit in Madrid, Spain

A good place to start sightseeing in Madrid is at the Plaza de Oriente. Although its name connotes an eastern location, the Plaza is actually located at the western area of Madrid in Spain. However, it is located east of the Palacio Real, or Royal Palace, hence its name.

The Plaza de Oriente in itself can be considered an attraction. Here, there are landscaped gardens that offer a respite from the busy city streets. Statues of past kings of Spain line the square. These statues were actually intended to be set atop the Royal Palace; however, they later found out that they were too heavy and decided to put them in the plaza instead. In the center of the Plaza, and atop a fountain, you will find a bigger-than-life statue of Felipe IV riding a horse.

Located next to the Plaza de Oriente is the Royal Palace, or Palacio Real. The Palace is the largest building you will find in the city, and the Spanish Flag waves proudly atop it. This Palace is also one of Europe's more important museums as it houses lots of important works by famous artists such as Goya, Meng, Giordano and the like. Other treasures such as priceless furniture, sculptures and tapestries are also found within its walls.

Fronting the Palacio Real and right next to the famous Cafe Oriente is the Royal Theater or, as the Spaniards call it, the Teatro Real. Built in 1850, it still serves as a major opera house in the city today. Donizetti's "La Favorite" was the first opera to grace its halls.

Pollux Parker is an adventurer who loves discovering secret island getaways in each country he visits. Pollux also likes to collect Spain Flag and buy cheap Spain Flag.

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Investment Property in Spain

Investment Property in Spain - A Look at Spanish Property Investments

Although this year (2007) has seen a general slowdown in the overseas property market and especially within the Spanish property sector it still seems that Spain accounts for almost half of the property searches conducted on most of the popular property portals. With an ever increasing number of visitors and second-home investors from all around the world looking at the Spanish property market Spain will never fall out of the popularity charts.

The country has always attracted millions of visitors every year due to its inviting climate and year round sunshine. Spain has some picturesque locales that have lured visitors to explore more of the country on every visit. Additionally, the country has a rich culture and tradition, which is uniquely popular around the globe. Resultantly, a constantly rising demand for every kind of investment property in Spain is evident!

Spain an Investment Opportunity

Spain has been offering excellent property investments opportunities for over 3 decades with foreign investors, particularly the British, finding the Spanish property market immensely lucrative from the investment point of view. Spain is a popular second home destination among Europeans and if you are conversant in Spanish, there is really no better place to invest your hard-earned cash than Spain. You'll experience some of the best facilities and high standards of living in Spain, which is an important factor as far as second home buyers are concerned. An estimated half million Europeans have already bought a property in Spain over the past 5 years!

The country's varied geographical regions have played a quintessential role in determining the future of investment property in Spain. The southern part of the country including the Costas has a vast coastline that offers some of the best beaches in the Mediterranean. The region is particularly acknowledged for its year round sunshine, which has always proved a magnetic for the British.

The snow-capped Pyrenees has been another attraction for visitors keen on the skiing opportunities on offer in Spain. The region bordering Spain and France is a visual delight with rivers, mountains, water-features and forests occupying the attention of onlookers.

Spanish cultural heritage is apparent from its famous food, opera, literature, and Spanish architecture? Spain is well connected with regular cheap flights to and from the country and to and from prominent cities around the world, this makes Spain easy to reach, affordable and quite different from its neighbouring countries.

Spain is also one of the relatively less expensive countries of Europe. This makes the world-class living and working conditions of Spain even more lucrative for anyone looking to relocate to Spain.

Post-1975, Spain has been a successful and thriving democracy with a stable government at the helm, which is committed to attracting all kinds of investments - foreign and domestic - within the country. The plan is to build a culturally rich Spain with a modernistic outlook.

All this makes Spain a perfect spot for a holiday property investment as well as a second home destination.

Types of Investment Property In Spain

Spain offers a range of properties, including farmhouses, fincas, traditional houses, mansions, apartments, beachfront properties, villas and golf properties in Spain. The best part is that currently, the real estate market is in a twilight stage, where the prices are neither too low nor too high. An astute investor can easily strike a handsome bargain in Spanish property. According to rough estimates, the average price per square metre in Spain is still about 20-50% below the UK.

Besides the regular constructions, it's the resort properties that are currently occupying the top of the charts as far as the Spanish real estate sector is concerned. The Polaris World Golf Resorts are, particularly, among the top-notch choices for domestic and overseas investors. You can lay your hands on a Polaris World Golf Suite for as little as £57K.

Obviously, you have to spend a larger sum if your requirements are for a bigger property. For instance, apartments in the golf resort of Desert Springs in Almeria commands a £103K+ price range. Similarly, apartments on the Costa del Sol can fetch upwards of £150K.

The hottest places to invest in Spain include Costa del Sol, Costa Blanca, Costa Brava, Majorca - or Mallorca as its spelled Menorca, Tenerife, Andalucia, Costa Tropical, and the Murcia region (including the Mar Menor lagoon, the Costa Calida and Murcia city).

If you are put off by commanding prices of expensive Spanish property, there is a mortgage option available too. You can easily approach one of the over two hundred local banks that offer different loan options and available mortgage loans to the tune of 70% of the property value under Spanish laws subject to the fulfilment of certain terms and conditions. Barclays Bank in the UK also offer mortgages for property in Spain - see our mortgage page for further details and free information pack on getting mortgages in Spain.

Don't forget to hire a local solicitor or lawyer or a good real estate agent in Spain order to facilitate the smooth property transfer transaction. Since Spanish is the main language in the country, you may find yourself at a loss trying to decipher the official rigmarole. Therefore, it is always considered vital to hire a local aide in a country where English is a second or third language.

Property Abroad's director Les Calvert writes interesting and useful articles on all subjects dealing with investment property abroad and buying property abroad. Check out their property for sale in Spain as well as their Spanish mortgages and news articles on Spain and Polaris World properties.

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The Fine Print of Retiring to Spain

Spring in Spain is one of the most awaited seasons in the country. Especially after iron hand rule of a dictator, the country is undergoing an overall renaissance. Though there are still many internal issues facing the current government, Spain has been able to maintain a vibrant cultural and artistic life in the new millennium.

One of the most appealing aspects of a life retiring in Spain are the four seasons the country enjoys. The country is located on the Iberian peninsula, with spring enjoying mild and occasional rain while autumn has mild sunny days. When winter comes along, there are the warm beaches on the Costa del Sol or the mountain ranges for snow based activities for the whole family.

Another aspect of retiring to Spain that should be cause for concern is the tax system in the country. Taxes are based on residency, which is determined when you spend more than 183 days in Spain. Taxes are imposed on income and capital gains and residents are also taxed for inheritance and gift taxes. As an expat, you need to find out if there is an existing double tax treaty between your home country and Spain. This helps in the retention of income and personal wealth of an individual when in Spain. The Expat Forum has detailed the taxes that can be imposed, namely:

* employment income,
* all compensation received for personal services,
* salaries and wages,
* payments for certain business-related expenses,
* pensions,
* housing allowances,
* other allowances paid in cash or in kind.

The public health system in Spain is good but it is best to have health insurance to be able to access the Spanish private health sector. This is because the private sector has better services which include the ability to converse in English. There are also many options available to individuals as to health facilities and the specialist to look after them. The costs differ according to the situation and condition of the individual.

As for property prices in Spain, the market is currently in a state of flux as prices began to fall due to the worldwide credit crisis. This has been assuaged though by a boom in the construction industry and there has been significant growth as a result of strong demand. Aside from this boom, the current government working together with business leaders have undertaken measures to counteract any fears of a market collapse and this has been able to prop up the market despite the current recession.

Finally, the cost of living in the country should also be one aspect of retiring to Spain that needs a second look over. Overall, the country still ranks lower compared to many European Union countries. Do remember that where you situate yourself in the country determines the individual's cost and standard of living. Another secret is finding the best and cheapest places to purchase your needs to be able to stretch your finances. Better yet, first pay a visit to Sunny Spain to fully realize the beauty and splendor of choosing to retire in Spain.

This article has been provided by Jose Marc Castro, the online editor at the Expat Forum.com - the primary online community for expats. The site also provides information and advice on matters such as Retiring to Spain.

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The Remortgages Market is Taking Time to Recover

According to the published figures of various UK mortgage lenders, the number of products on the market has increased at last, bringing the number of mortgages available in Britain to 2,500 - which hasn't occurred since May 2009. The increase is partly down to the Halifax's decision to offer existing borrowers new rates. This has had a significant effect because the Halifax is one of the largest lenders in the UK.

Nevertheless, the increase does appear to be across the board, taking place over three successive months. It is, of course, great news for anybody looking for a first-time mortgage, although the 2,500 deals on the market still falls far short of the 30,000-plus that could be found in August 2007, before the impact of the credit crunch.

Although first-time borrowers can feel encouraged, the news is not so good for people considering remortgages. Lenders themselves are far more wary of dipping their toes into the remortgages market and it is widely believed that the market will remain limp until well into 2011. Analysts say that this reluctance is down to mortgage-providers' focus on giving loans for the purchase of a first property, due to the Government's insistence on this as a priority and its imposition of targets to be reached for a certain number of new mortgages.

Property owners themselves are also contributing to this phenomenon, as they hedge their bets while awaiting a change in the economy. With interest rates currently low, mortgage-holders are sitting tight and feeling the benefit. If these borrowers are near the end of their mortgage deals, their lenders' reversion rates remain attractive, as they are linked to the base interest rate. If this rate goes up in the near future, only then are they likely to consider remortgages.

This state of affairs has been confirmed by the UK Council of Mortgage Lenders (CML), which has said that in January of this year, the number of remortgages that were approved dropped by 6 per cent in comparison with December 2009 - a total year-on-year fall of 39 per cent. The industry body said that the contemporary mortgage market is more akin to that of the early 1990s - also a time of recession - than the strong market at the beginning of this millennium.

Next year, the likelihood is that interest rates will rise and this will act as a spur to remortgages. There could be movement before then though, according to Spanish banking group Santander. The bank said that over 880,000 UK borrowers who are at present on fixed rate or tracker mortgages could be looking to remortgage by the autumn. The bank's research found that they are not likely to want another tracker mortgage however, due to fears of a rise in interest rates.

Kim enjoys writing articles on various financial related topics, including Mortgages and Different kinds of Insurance.

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Spanish Villa Rental

When you're planning a holiday, whether it be in Spain or elsewhere, you need to know that your accommodation will be up to your standards. You need to rent a holiday apartment or villa from a supplier who you can trust. It can be hit and miss but only if you don't do your research.

Choose a good rental accommodation supplier and you will save on money, time and effort. We've all heard of horror stories about poor property but there is no longer any reason to get stung. Asking family and friends for referrals is fine but accommodation can change in quality. What if the apartment or villa is declined in quality since your family or friends stayed there?

What you need to look for is an unchanging (unless it is improving!) level of service and quality so that you can be sure that you will be happy with your stay. That way the vendor will get repeat business because you, the customer, will be happy. Additionally, happy customers tell their friends and family so it is a win, win situation. Everyone benefits from good, consistent service.

What if things go wrong? Sometimes things do go wrong. Good vendors will always make sure that problems are solved. At the end of the day holiday makers have a finite amount of time in which to go on holiday and only a certain budget to spend on their vacation. It is extremely important that renting accommodation in Spain is always a good experience for the customer.

For more information about holiday apartment rentals visit http://www.searchsitges.co.uk

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Spain here we come

Well as the winter drags on and on here in the UK myself and my wife are really looking forward to taking a short holiday in Spain at the end of March. While we are there we will be looking at property for sale as we intend to move to the Costa Blanca in the near future.
This is going to be quite some adventure for us and I look forward to updating this Blog as we progress. We are in the process of searching through all the many Villas that are for sale and making a short list of the ones we would like to look at during our trip, we don't want to overdo the house hunting though as this is also going to be a holiday with some relaxation time.
It is clearly a good time to buy property in Spain as the prices are staying low at the moment with many properties reduced. Property prices will surely start to increase in the near future as the economy recovers and more people start looking for holiday homes and permanent homes in the sun.
The property searching process is likely to take some time and no doubt we will be making several trips over the coming months. Once we have found the ideal new home for us I will write about the area we intend moving to, plus keep the updates coming on the move itself and all that it entails.
It will be interesting to experience first hand how easy or complex! the house buying process is in Spain.

Gordon Bloomfield 2010

Is Your Holiday Home Legal?

Media reports of holiday home owners in Spain being fined up to EUR30,000 for renting out their homes without a licence has caused controversy and concern. It is not surprising. Mediterranean Spain is abounding with vacationers' second homes, which are often rented out to friends, colleagues, neighbours, and strangers too. Adding to the confusion is the ambiguity of information from the authorities. This is largely due to regulations varying from region to region.

A recent survey by the Spanish property portal Kyero found that 82% of mainly European respondents did not know whether rental licences were required in their province. "Clearly, there is a lack of knowledge and awareness about this particular aspect of Spanish law," says Martin Dell, head of Kyero.

It is not known how many second home owners are dependent upon rental income as this largely unregulated activity falls into the 'informal economy' category. The numbers involved will vary from one province to another, and fluctuate with the economy. There can only be one answer to the question on everyone's lips: If you decide to rent out your holiday home then it is in your interests to know the legal situation wherever your home is situated, Spain or elsewhere.

Always employ a local lawyer (in Spain an abogado) local to where you either have or intend to buy your buy-to-let property. He or she will be best placed to peruse the legislation governing such use. They will identify any clauses or covenants within the property deeds that relate to short term rental activity. i.e. less than three months.

Either your solicitor or you can contact the local authority to see if a 'tourism licence' is required. In most cases your enquiry should be directed to the Town Hall. (Ayuntamiento) If there is such a requirement they will be best able to explain and will likely process the application for you. Inevitably contradictions will exist so again your solicitor is best equipped to ensure the local legality of your intention.

Be aware too of taxation rules which again vary from country to country. You must presume that tax is payable on rental income earned. Try not to be concerned that taxes may be sufficiently burdensome to make renting unprofitable. There are double taxation treaties between most countries.

Your financial advisor is the best person to arrange the paperwork so you pay it just the once. These take into account and offset taxes already paid. In Spain, the gestoria, who is often engaged on your behalf by your lawyer, can guide you in compliance. They know the ropes, have the right contacts, and are said to be worth their weight in gold. Gestoria are unique to Spain where bureaucracy is so endemic that these specialists have come about to navigate their way through what is often a ponderous administrative process.

Another reason for leaving it to the legally qualified is there being two types of holiday property recognised in Spain. They are categorised as either apartamentos turisticos (tourist apartments) or viviendas vacacionales (holiday homes): the legal implications again vary. ©

Michael Walsh: Semi-retired Spanish real estate advisor; legal and property journalist. quite_write@yahoo.co.uk

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