property news
The following article is taken from the Overseas Property Professional
Tuesday, 8th April 2008
EUROPEAN MPS CALL FOR ACTION IN SPAIN
Members of the European Parliament have held a two-day meeting in Brussels to address the growing number of complaints from British, German, Dutch and other European citizen’s whose properties have been demolished in Spain – particularly across the Valencian region.
At the close of the meeting, MEPs from both sides of the political divide in Britain have been making their voices heard and called on the Spanish government to put an end to the demolition of private British-owned property in the country.
"They [property buyers] were assured that deeds to their property were legal as advised by local lawyers, developers and officials,” said British Labour MEP Michael Cashman at a press conference. “Now because of a combination of corruption and interpretation of new property laws, these people are facing ruin. Homes will either be demolished or people are now being asked to pay even more money for water and electricity supplies, which they were assured their property would receive."
Mr Cashman added that the problem is acute in Valencia, but it is also happening in Andalucía, parts of Murcia and on the Canary Islands.
Tory MEPs also waded into the discussion and called for an immediate cessation on all demolitions and future land grab developments until a solution can be finalised.
"The Spanish authorities have had long enough to talk about change,” said Sir Robert Atkins MEP, Conservative coordinator of the European Parliament's Committee investigating land grab. “Now is the time for action. I am calling on the Spanish authorities to issue an immediate moratorium on demolitions and future land grab developments. The damage can already be seen both to those owning property in Spain and to the local environment. If the Spanish authorities fail to finally take action, I will be referring this case to the European Court of Justice and the European Court of Human Rights."
The European Parliament has previously issued four resolutions calling for action to be taken to protect property owners, and although the law was amended in the form of the new Valencia Land Law (LUV), many still face the expropriation of their land without compensation or arbitrary costs for what the Conservatives are calling “unnecessary infrastructure developments” in their region.
Another Conservative, Neil Parish MEP, accused Spanish councillors of colluding with property developers to undermine the “fundamental principles of property and human rights” and brought to attention the case of Jackie Cotterill, a Spanish town councillor, who was allegedly threatened with legal action by authorities after speaking out for property owners and local environmentalists.
"This abuse of property law is in contravention to the Charter of Fundamental Rights which Spain signed up to in the form of the Lisbon Treaty,” explained Parish. “The gag on Cotterill is also a blatant breach of democracy and completely goes against the European values Spain promotes.”
Call to action
At the start of the year, the editorial director of Homes Overseas Magazine, Rupert Bates, appeared on Channel 4’s Richard and Judy programme to call for the Labour government to step in and help the thousands of British homeowners potentially at risk of having their properties demolished in Spain.
Flanked by two British buyers whose properties were threatened, Bates told the programme’s two million viewers he believes Foreign Secretary David Miliband should be travelling to Spain immediately to defend the rights of UK buyers. “Spain is not some banana republic, but the UK's number one tourist destination,” he said. “Many UK buyers have bought recently in Eastern Europe and other less mature and less transparent overseas property markets, where illegal building is also rife and property law at best untested. Could the same thing happen in a few years time on other coastlines where Britons have bought holiday homes?"
Holiday home owners ‘spend 4 weeks in property’
According to a study by HolidayLettings.co.uk, second home owners from the UK occupy their foreign residence for an average of four weeks, reports Homes Overseas.... Friday, March 07, 2008
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People who have bought holiday homes abroad only tend to spend about a month in their overseas property, new figures have revealed. According to a study by HolidayLettings.co.uk, second home owners from the UK occupy their foreign residence for an average of four weeks, reports Homes Overseas. This has prompted the organisation to suggest that they make the best use of their property during the remaining 48 weeks of the year. Specifically, it has informed people of the financial gains they could make if they rent out their holiday home when it would otherwise be sitting empty. Ross Elder, managing director of HolidayLettings.co.uk, commented: "There is a fantastic opportunity for owners of holiday homes to reap the rewards of the healthy rental market." He added that mixed-use investors could earn an annual sum between £7,000 and £18,000 in rent per annum. This comes after the Office for National Statistics revealed that almost 850,000 UK nationals now own a foreign property.
Spain set to see additional interest from investors
Spain is likely to attract renewed interest from overseas property buyers, an expert has predicted. Nicola Christie of NuBricks.com stated that major Spanish cities and coastal resorts have traditionally been the focus of interest from foreign buyers.... Wednesday, March 05, 2008
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Spain is likely to attract renewed interest from overseas property buyers an expert has predicted.
Nicola Christie of NuBricks.com stated that major Spanish cities and coastal resorts have traditionally been the focus of interest from foreign buyers.
However, she said the incremental roll-out of new high-speed rail links across the country could help change investors' preferences.
A service between Madrid and Barcelona has just been launched, which means that towns along the route will now be much more easily accessible.
Therefore, it is possible that property buyers could start considering parts of the country that have, until now, been "effectively out of bounds".
Ms Christie commented: "News of yet more links to come over the next four years should ensure that more and more of the Spanish countryside is opened up."
According to Holiday-Rentals, 31 per cent of British-owned holiday homes in Europe are located in Spain.
