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The Value of Your Shares May Fall and Fall and Fall Print E-mail
Written by Mark Wilkins   
Wednesday, 03 October 2007
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The Value of Your Shares May Fall and Fall and Fall
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Its all very well to talk about the examples of individuals who have made the leap but are there trends developing? Surveys over the last few months indicate that retirement overseas, once the preserve of the few is becoming the lifestyle of choice for many.

In his piece on 23 August 2007, Philip Johnston, Home Affairs Editor of The Times noted that the number of Britons emigrating in the 12 months to July 2006 reached 385,000, the highest since 1991 when the statistical analysis was first introduced. Since 1997, 1.8 million British nationals have left the UK and about 900,000 have returned. Troubling for some, and despite the numbers leaving, Philip also notes that the UK population is still rising, thought to be largely due to the number of immigrants.

A survey completed in February 2007 and conducted by Insure4Retirement.co.uk indicated that over half of all Britons hope to retire abroad.

In April 2007, a survey for Bank of Scotland International by GfK found that 42% are interested in buying property abroad or moving abroad.

Statistics from the UK Office of National Statistics show that 1m Brits have retired abroad between 1996 and 2006. With nearly 75,000 retirees, Spain took top slot.

In a recent report, carried by our friends at Spanish Property Alerts and kyero.com, Chris Simmonds, commented that “Many people are finding that their money goes a lot further on the Mediterranean coast and they can have a new and idyllic home in the sun. This and growth in cheap flights from the UK and the strong ex-pat communities within Spain make the country the ideal choice for people looking to retire abroad.”

Barclays Buying Abroad director Richard Exton also highlights Spain, by saying "Brits are familiar with the idea that we only have two seasons: the winter and July. It seems that this year, with the terrible weather we have experienced in July and throughout the summer many people are not prepared to sit through a year-long winter and are looking for a getaway to sunnier climates."

It going to take more than a few encouraging words from me to highlight the vast array of property – and property bargains too boot – that are available in Spain.

My experience over the last four years of running a business on the Costa del Sol has been much more than solely about the difficulties encountered by those – and sadly there are all too many examples - who got involved in purchasing off plan. It has opened my eyes to the potential of this market to tick so many boxes for the overseas property buyer. Whatever their reason for buying.

Delete from your memory the notion of getting rich quick or the expectation of a simple property investment that delivers double digit return by the end of next week. Growth will happen but it will be slow.

At this stage, the Mother and Father of Growth, Trust and Confidence, are tentatively talking about dating before bolding walking down the street arm in arm. The good news is that signs are starting to emerge which suggest that a new political will - aimed at curing the previously chronic ailments - is starting to work. The Big Clean Up is underway and with it the shoots of re-growth are being irrigated.

As Mark Stucklin in his piece for the Sunday Times (26.08.07) notes that “Marbella is trying to rebuild its reputation and restore buyer confidence, particularly among foreign investors. It has a new urban plan from the regional government of Andalucia, based in Seville, and an amnesty is being declared on many of the illegal developments.”

Mark also reports that Angeles Munoz, the new Mayor of Marbella, is obtaining compensation for the town in the form of money and land payments by imposing fines upon errant property developers - who inflicted the worst damage.

Further, she is reported as being against the threatened demolitions and believes that they are not “an appropriate solution for Marbella”. Further that she’ll do “everything in my power to protect the interests of innocent buyers….. We will appeal against demolition orders.”

I firmly believe - as do our property buying clients – that whilst location is the main priority it is followed sharp on its heels by “the Deal”. Iain Maitland at Spanish Property Alerts reports that according to a new “Overseas Desirability Report” a place by the beach in Spain is the most favoured overseas property of choice for Brits – so the Three “Ls” still rule!

© The Rights Group SL 2007 (Marbella)
Mark Wilkins
The Rights Group SL
0034 600 343 917
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Last Updated ( Wednesday, 05 December 2007 )