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This is a follow-up to our last article which examined the new requirements for short-term holiday lets in Spain.

In brief there are new regulations coming into place in Spain. This requires properties being let for less than 2-month period to be registered with the authorities. Here we will briefly discuss the process for register the property:

The first thing to note is that, in typical Spanish fashion, it is not the same for the whole country. Regional differences apply. Already each region have different laws and guidelines regarding tourist rentals. Check what laws are specific to your region.

In an effort to raise taxes (and apparently the quality of short-terms lets) the Spanish authorities are now going to begin inspecting unlicensed short-term rental properties.

This applies to Spanish properties that are let out for a period of less than two consecutive months. It does not apply to longer-term rentals.

It has all the appearances of a simple revenue-raising venture. But the authorities are also attempting to improve the quality of rentals. This means inspections will begin; likely in the upcoming busy summer season. As is expected the inspections will be unannounced.

Our new and improved website is going online tonight (15.05.2018)!

We are excited to announce the release of our new and improved property website.

Therefore, if you’re a regular visitor to our website, you will notice not only that it looks better, but new features will be there as well.

A good friend of mine recently bought a property in the US. He lives in Ireland and the property was as an investment. The property value was $360,000 US Dollars. He began the process of buying the property in question 6 months ago. At this time it was expected to cost him €310,000. This was based on the currency exchange rates at that time.

He closed the property 2 weeks ago (it took very long to complete the transaction due to it being a foreclosure property) and the actual cost was €288,000; a saving of €22,000 based on the exchange rate movement.

Whilst this worked out strongly in his favour I can’t help feel someone from the US who was buying a property in Europe and ended up paying far more than initially expected. It raises an interesting question though.

The big world news story at the moment appears to be regarding a trade war that has broken out between the US and China (although it could be argued that it is between the US and the rest of the world). Of course such a war will have an effect on many key elements of each world’s economy.

Being who we are, let’s talk about how it might affect property prices.

Generally speaking property growth relies on a stable local and world economy.

The index ranks based on urban economies and real estate markets. As well as indexes in order of those experiencing the most rapid growth.

Indian cities dominate the ‘short term momentum ranking’ in JLL’s latest annual global report ‘City Momentum Index’ (CMI) 2018. Hyderabad and Bangalore are occupying the top two positions. Pune ranks at fourth.

It is followed by Kolkata (5th) and Delhi (8th) in the top 10 cities out of the 30 top global short-term growth cities.

During the recession the term ‘Buy to Let’ mortgage was almost comparable to using an expletive such was the disgust of many to the contribution such mortgages made to the property crash. But they are making a comeback.

ICS Mortgages is offering its customers an interest free mortgage for up to 15 years.

Politicians were first to jump in with their concerns. Fianna Fáil finance spokesperson Michael McGrath said “Some might say that a ‘Buy to Let’ mortgage is being offered to landlords for investment purposes. But because of full recourse lending here, these loans could result in judgments against individuals and will be registered against family homes.

A prounced Brexit effect on UK house prices was unclear up to now but recently  released figures indicate we are now seeing a trend. It appears that the very wealthy areas of London are seeing strong downward pressure on prices.

One report indicates the areas such as Balham and Putney are seeing a fall in prices of 12-14% with others reporting falls of greater than 15%. London city centre areas were at the centre of the UK property boom. Many felt a correction may have been needed here.

In any case other areas of the UK are not seeing the same pattern.

For many years I must admit to being quote opposed to use an Architect and their (what I considered) exorbitant fees.

When it comes to house design I pretty much think everyone else’s idea is a good one.

Also I am not really one for putting my own stamp on things. All this meant I ways thought there was enough house designs out there already so why not just buy off a prescribed house plan rather than looking at designing your own pile. Just look through the catalogue and pick the design you want. In recent months though I am not so sure….