Renewed interest in Spanish property from British buyers

 

 

 

 

Renewed interest in Spanish property from British buyers

 

There has been a surge in the level of interest in Spanish properties from British buyers, with both enquiries and sales among this demographic increasing.

So says Marc Pritchard, sales and marketing manager at Taylor Wimpey de Espana, who revealed that in August, 53 per cent of all his firm's transactions were completed by Brits, which is the highest proportion it has been in nearly two years.

He explained there are several factors that have combined to make Spanish real estate an attractive option for British investors.

Mr Pritchard noted there is a good supply of high-quality homes in popular locations that are available at reduced prices. In addition, the exchange rate between sterling and the euro and the low rate of value-added tax payable on property transactions have added as extra incentives to enter the Spanish residential sector.

He stated that "Brits are prepared to act in order to take advantage of the current market".

Despite this renewed interest among buyers from the UK, data published earlier this week by the Instituto Nacional de Estadistica showed that property sales declined by 2.5 per cent in July, compared to a year earlier.

 

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Property in Murcia has surged by 78 per cent

What A beach

Demand for property in Murcia has surged by 78 per cent this year, according to one search engine..
The region has long been mooted as the fastest recovering area in Spain, with the upcoming international airport and Paramount theme park boosting its potential for property investors. But interest in the region's real estate has already started to grow on the overseas portal, with enquiries betwee...

n March and May this year 78 per cent higher than the three months from December to February.
The increase in interest follows official reports that property sales across Spain have risen too. Although down on the year on year rate, real estate transactions grew by 21.9 per cent in the first quarter of 2012 compared to the last quarter of 2011, the Spanish College of Property Registrars revealed this week. This boost in sales has been attributed to the country's "intense lowering" of house prices, as holiday homes become even more affordable for international buyers.
Spain's financial woes and historic bank bailout continue to dominate news headlines, but the country's unemployment has also driven rents up, with rates growing by 0.7 per cent in April compared to last year. Now, investors are looking to take advantage of the falling prices and higher rents, and Murcia is one their main targets.

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We already have several bookings for next summer

We already have several bookings for next summer. If you would like to reserve dates please contact us as soon as possible
http://www.house-by-the-pool.com/

See details of our 3 bedroom house to rent in the southern Costa Blanca, Spain. Overlooking the pool, close to the beach, shops, restaurants and golf. Sleeps up to 8 people. All year round holidays.

SPRING OPENING FOR CORVERA

SPRING OPENING FOR CORVERA
By Dave Jones
MURCIA’S new international airport at Corvera is set to open in April, a spokeswoman for concessionary operator Aeropuerto de Murcia SA told Costa Blanca News.
The statement belies information offered just last month by minister for public works Ana Pastor who said it could be up and running this autumn.
Full story in today’s Costa Blanca News.

 

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Home Buying by Foreigners Rises by

Home Buying by Foreigners Rises by 12%

September 18th, 2012

9,502 house purchases were made by foreign residents in Spain during the second quarter of this year, representing an increase of 12% compared to the number of transactions recorded in the same period of 2011, and the highest figure since four years ago, when it reached 11,130 sales.

One clear factor explaining the rise in foreigners’ property purchases in Spain has been the drop in property prices, which in the second quarter fell by 8.3% to 1,606.4 per square metre – a return to levels seen at the end of 2004.

In contrast to the highs recorded in 2006 before the housing bubble burst, and according to data from the Ministry of Development, home purchases made by foreign residents in Spain marked a record low in the first quarter of 2009, when the number of transactions fell to 5,036.

With regard to location, El Pais reported that most home purchases made in the second quarter were in Andalusia (1,676), Valencia (3,114), Catalonia (1,615) and the Canary Islands (1,173), while the lowest number of operations were recorded in Cantabria (15), Ceuta and Melilla (16) and Extremadura (18).

As for the purchaser’s province of residence and the location of the property, Alicante headed the list with 2,645 transactions, followed by Malaga (1,127), Barcelona (847), Tenerife (655), the Balearic Islands (536), Las Palmas (518) and Madrid (522). At the other end stood Avila (2), Ceuta (3) and Palencia (4).

Foreign investment in Spanish property during the first three months of the year rose by 2.5%, compared to a year earlier, to 1,163 million euros. According to the latest data from the Bank of Spain, this amount – the largest disbursement since the second quarter of 2011 – contrasts with the downward trend experienced in the Spanish investing in properties outside of Spain, which reduced by 50%, to 95 million euros.

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An interesting article

An interesting article in the Wall Street Journal last week highlighted an increasing gap between the supply and demand for investment property in Europe.

Discussing the market for commercial property, Harm Meijer, European property analyst at JP Morgan Chase argues that "prime assets will stabilize or rise in value, depending on the country, but secondary assets will continue to slide."

It strikes me that despite the doom and gloom headlines, this will also hold true for internationally-focused residential property.

Let’s take Spain, as it’s the biggest European market. Prices are now 40% lower on the coast than at their peak according to the latest TINSA index. At first this seems strange as water-front property is most sought after category in our industry. Yet TINSA’s figures include all property in the coastal regions, the overwhelmingly majority of which is not even close to the beach.

Price drops in Spain seem to be accelerating, propelled by the savings banks new taste for reality. However, the sinking tide will not take down all boats. Foreign buyers are not buying in boom numbers but volumes are rising and they are ever-more discerning.

The demand for conveniently-located, well-priced, low-medium density completed resorts with beach views is at a post-boom high. The fact is there is genuine shortage of property that ticks all the boxes of the people who are now buying abroad.

This fact has either escaped the headline writers’ attention or just doesn’t sell newspapers. “Spain hit by huge property shortage” won’t be headline you’ll be reading any time soon in the Daily Mail. That is until international property advertising revenue begins to rise again and that could be some time.

Source: Global edge

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The results are in

The results are in!  A recent survey conducted by the Overseas Guides Company revealed that the economic turmoil of the last few years has done little to deter those determined to buy their own slice of heaven abroad.

Of the 1,114 respondents, 36.9 per cent confirmed that they have not changed their approach to buying abroad or emigrating despite the general economic crisis and believe that now is as good a time as any to purchase abroad. A further 42.2 per cent admitted to being wary but their concern has not led them to change their plans.

So, which demographic are the most likely to be planning an overseas property purchase? The survey discovered that around 70 per cent of prospective buyers are at least 50 years old – the majority ranging between 50 and 64. Of this age group, more than 70 per cent plan to buy outright without a mortgage and 59 per cent of respondents revealed that they are planning on buying to emigrate.

I must admit those findings surprised me, I guess if you want something bad enough, you press on and achieve your set goals, but how about you? Are you still pressing on? Why not call me and see how achievable your plans are to own a property abroad.

www.spanishdreamproperty.com

www.house-by-the-pool.com

Turmoil for overseas property

A recent survey conducted by the Overseas Guides Company revealed that the economic turmoil of the last few years has done little to deter those determined to buy their own slice of heaven abroad.Of the 1,114 respondents, 36.9 per cent confirmed that they have not changed their approach to buying abroad or emigrating despite the general economic crisis and believe that now is as good a time as any to purchase abroad. A further 42.2 per cent admitted to being wary but their concern has not led them to change their plans.So, which demographic are the most likely to be planning an overseas property purchase? The survey discovered that around 70 per cent of prospective buyers are at least 50 years old – the majority ranging between 50 and 64. Of this age group, more than 70 per cent plan to buy outright without a mortgage and 59 per cent of respondents revealed that they are planning on buying to emigrate.

www.spanishdreamproperty.com

www.house-by-the-pool.com
www.mykleeneze.co.uk/bevanddave

Alhambra

Give me Moor: Islamic tales, free tapas and terrifying Alhambra staff in glorious Granada

By Sarah Gordon
PUBLISHED: 10:15, 19 July 2012 | UPDATED: 15:36, 14 August 2012

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When King Boabdil was forced from his kingdom of Granada by the Catholic Reconquista in 1492, he is said to have stopped on a mountain path, looked back at the Alhambra palace one final time and shed a tear for what he had lost.

Confronted by a steely-eyed Spaniard, perched like a vulture at the entrance to the Alhambra’s Nasrid Palaces, I feel a similar urge to cry as I am barked at in front of a startled line of tourists, quietly pretending not to witness our exchange.

My crime? I am twenty minutes late for my timed visit to the most popular part of the palace complex. So much for the Spanish mañana culture.

The Red Fortress: The Alhambra palace is Spain's most iconic remnant of Moorish rule

When Boabdil broke down, his mother is said to have reproached him with the words: ‘Thou dost weep like a woman for what thou couldst not defend as a man.’

My vulture is not so poetic, her talons thrust my tickets back and me and I am told to return to the ticket office, explain why I am late and wait for my entry to be reissued.

The sentiment is more or less the same. ‘Thou dost complain about not being allowed in at 5.50pm, when thou didst buy tickets on Ticketmaster for 5.30pm.’

The Alhambra crowns a hill above Granada, a walled complex which for centuries was a symbol of the Moors’ domination of Spain. The first palace was built in the 11th century and multitude buildings have been added over hundreds of years by Islamic dynasties and, later, Christian conquistadors.

Up to 6,000 people pass through the serene gardens and ornate palaces each day in peak season, soaking up the sunshine, unparalleled views of the city and Islamic heritage, which is why it is important to buy a ticket in advance. And turn up on time.

Intricate: Detailed carvings transform the palace's stone surfaces into delicate works of art

When we finally make it into the Nasrid Palaces, they are well worth the contempt of the snappy bird of prey.

Spikey turrets scratch at the sky and every wall that is not graced by coloured tiles has been intricately carved with the words ‘There is no conqueror but God’.
Remnants of the red, blue and yellow paint that once adorned these surfaces is still visible in parts and stuccoed columns, marble water fountains and carved ceilings, so elaborate they look like paintings, recreate the lavish rule of the Moors in the 14th century – at an artistic peak, but on the cusp of political decline.
If there was ever any doubt about Spain’s mixed heritage, Granada is the city that maps out the Iberian Peninsula’s blend of Christianity and Islam.

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• Andalucian idyll: Exchanging the Costas for caves, valleys and pretty white villages
• Walk of a lifetime: Why the epic Camino trail across Spain is a route to true happiness
• Find more hidden corners of Spain

While Islamic Seville and Cordoba fell to the Catholics in the mid-13th century, Granada – meaning pomegranate in English – brokered an agreement to become an independent Islamic state in a deal that lasted until 1492, when an eight-month siege by King Ferdinand and Queen Isabel forced Boabdil to give up his throne and make that long walk into exile.

Remnants of Moorish influence are ever-present in Spain, from quirks of the language (ojalá is a way of saying ‘with any luck’ and comes from the refrain ‘Oh Allah’), unpronounceable place names that have no base in Latin and those keyhole-shaped gateways that mark the entrance to medieval walled towns.

Eastern exoticism: The jumble of streets is filled with tea shops and stalls selling Moroccan-style wares

While in most areas this influence lurks in architecture and language, in Andalucía, it bubbles to the surface, eventually bursting forth in Granada as a mix of mint tea-selling teterías (tea shops), hubbly bubbly pipes and markets with a distinctly Moroccan flavour.

The stout cathedral may stand in the centre of the city, an ominous threat to anyone trying to remember Granada’s Islamic past, but just behind it a burrow of streets is packed with outdoor stalls selling silver tea sets, handmade rugs, pretty woven shoes and blood-red lamps and lanterns.

Add to this a youthful spirit – Granada is a university town – and a hippie vibe, created by the mix of gypsy influences and international travellers who come here to study, and you have a Moorish-Spanish city with an ambience that is very different to formal neighbour Seville, party-town Malaga and quaint Cordoba.

Escaping for a girls’ weekend, my friend Sanne and I spend hours tramping through the streets, haggling for rainbow-coloured clothing, clanging bracelets and leather belts, stopping only to refresh with mint tea, strawberry-flavoured hubbly bubbly and free food.
While Granada can’t really claim to be the home of flamenco – that honour goes to Seville – it is the capital of tapas.

It is said that barmen in Andalucía started giving out free bread and jamón as tapas (literally meaning lids) to cover customers’ beers and protect them from flies.

Back in time: The Alhambra offers views over the Albaicin, which is little changed since the 14th century, while the Alhambra Palace hotel recreates the lavish surroundings that Moorish rulers would have experienced

The tradition grew and has now been transported around the world as a restaurant concept, but only in Granada does the tradition of serving up free food with your drinks live on.

Along with our Alhambra-branded beer – surely sacrilege to the palace’s abstinent Islamic creators? – we are given meat stews, jamón, patatas bravas (potatoes with a spicy sauce) and montaditos (open sandwiches).

It’s not hard to burn off the indulgent dishes as Granada is a series of peaks and troughs. We spend hours walking around the Albaicín, the old Arab Quarter which clings to the hillside opposite the Alhambra and grew up in a tangle of narrow streets and topsy turvy buildings.

The oldest quarter of Granada, it is still lived in by locals, but also crammed with restaurants, bars and pretty shops run by long-haired hippies. At its pinnacle lies Mirador San Nicolás, a quaint plaza often graced with mournful guitar-strumming travellers and tourists taking photos of the mighty Red Fortress which stands proud with the Sierra Nevada in the background.
In the evening, after more free tapas, we make the hike back to the Alhambra, stopping just before its red walls at a hotel with architectural influences borrowed from its authentic Moorish neighbour.

Plaza with a view: Sarah and her friend Sanne pose for the iconic Alhambra photo taken from the Mirador San Nicolas

Where the imagination fails to fill the empty ornate rooms of the Red Fortress, the century-old Alhambra Palace hotel steps in. Keyhole-shaped doors filled with coloured glass, carved wooden furniture and wrought iron balustrades may not be historically correct in the strictest sense, but they certainly recapture the extravagance of Boabdil’s kingdom. No wonder aristocrats and royalty have chosen to stay here as they have visited over the years.

A terrace jutting out over the city completes the offering, the perfect spot to sip cool beers and watch the early evening shadows extend across the diminutive city below as the snow-capped peaks glint with the last rays of the setting sun.

Francisco Asís de Icaza, a Mexican poet who visited the city at the turn of the 20th century, famously wrote: ‘Dale limosna, mujer, que no hay en la vida nada como la pena de ser ciego en Granada.’

It translates as: ‘Give him alms, woman, for there is nothing sadder in life than being blind in Granada.’

The quote now lives on as a tile placed in a wall near the city’s cathedral.
But it is only when perched above Granada, taking in its sweeping panorama that you fully understand the meaning behind Asís de Icaza's words.

Travel Facts

Flights to Granada via Madrid (there are no direct flights) cost from £80 each way with Iberia (www.iberia.com 0870 609 0500).
LateRooms.com (www.LateRooms.com) offers accommodation at the four-star Alhambra Palace in Granada from £80 per night.


Read more: http://www.dailymail.co.uk/travel/article-2175601/Granada-holidays-Islamic-tales-free-tapas-terrifying-Alhambra-staff-glorious-Granada.html#ixzz24Ai2g7GW

Bungalow in Moraira

2 Bed 2 Bath Bungalow in Moraira

Ref: NCB275 Type: Bungalow Area: Costa Blanca North Town: Moraira

Beds: 2 Baths: 2 Pool: Yes Price: €125,000

Description: A single level 2 bedroom, 2 bathroom whitewashed bungalow situated close to the San Jamie Golf Course. The property has a glazed naya and the lounge benefits from an open fire with a timber beamed, barrelled ceiling completing the Spanish style living. The open plan kitchen has a breakfast bar leading into the lounge. The current owners rent the property throughout the summer season, given the properties close location to Moraira town and all of its facilities Find us on Facebook https://www.facebook.com/#!/pages/Spanish-Dream-Property/204019259614697

Mortgage enquiries for Spain increase

Mortgage enquiries for Spain increase by 33% as now is the time to buy
Posted on: August 11, 2012

Murcia is a key location as prices there are low even though tourist attractions are being developed.

In summary:

Murcia is a key area to invest in.

Mortgage enquiries for Spain increased by 33%.
...

Investors can get value for money by investing now.


The Spanish property market may be suffering at the moment, with the Eurozone crisis and employment rates being constant issues focused on by the Spanish people but that doesn’t mean that the country lacks investment prospects.
Investors can make the most of the current market if they take the leap and invest in Spanish property now, whilst it is cheap and it seems that some investors are sitting up and taking note of the market with an increase of interest in Spanish property.

Overseas mortgage specialists, Conti said that over May and June there was a rise of 33 percent in the number of mortgage enquiries highlighting that people are wanting to bag a bargain whilst the time is right.
Clare Nessling, Director at Conti, said: “Bargain prices and the opportunity to negotiate these down even further with some very motivated sellers mean that it’s most certainly a buyer’s market.
“In addition, despite the ongoing eurozone crisis, the growing strength of the pound, which has been rising against the euro to levels not seen for around four years, is boosting the budgets of British buyers.
“These factors, together with historically low interest rates, are making it more affordable to buy in Spain right now. And signs that the market is improving are starting to lift the confidence of prospective buyers.”

Murcia is one region that is proving to be attractive especially since the Paramount Theme Park is under construction. The region already attracts more than two million visitors every year with the theme park expected to boost that number, with visitor numbers maybe even doubling.

Investors who are looking to purchase Spanish property for the purpose of renting it as a holiday home should look to Murcia as it is destined to become a thriving tourist driven area in the coming years and the current prices of property there are among some of the cheapest in the country.

WWW.spanishdreamproperty.com

Assessment of distressed property markets compiled by website IPS

Many European property markets which have seen prices plummet in recent years could be good bets for overseas buyers but others should be left well alone, according to a new report from below market value specialists.
The United States, and Florida in particular, could be reaching the bottom of the market as prices are picking up i...

n some areas. But IPS reckons it is a market only for experienced investors as prices vary so much depending on location.
Hungary is described as uncertain.
Greece is a high risk market at present even for experienced real estate investors, it points out.
Bulgaria, once the darling of overseas property investors has seen prices plummet in the capital, in the ski resorts and even on the coast where many British and Irish investors are trapped unable to sell.
It says that Portugal’s property market has been hit hard by the sovereign debt crisis.
Oversupply and the economy have put huge pressure on Spain’s property market, according to IPS. ‘It is now possible to buy a property below market value. If the banks are willing to lend then they must be confident this market has finally reached bottom in the more desirable coastal areas. Invest now if you want to grab a bargain in coastal areas. Properties are unlikely to get cheaper,’ says the report.

www.spanishdreamproperty.com

Interest in Spanish property on the increase

Despite a turbulent few years it seems that the British love affair with Spain is far from over. Conti, the overseas mortgage specialist, has seen a 33% increase in Spanish mortgage enquiries over May and June, and attributes the rise to excellent buying conditions and signs that the market is starting to bottom out.

According to the monthly house price index from appraisal company Tinsa, Spanish property values were down by 10.8% year on year in June, compared with 11.1% in May. And figures from the Spanish National Statistics Institute, INE, show that the decline in property sales in May were -9%, a lot less than the declines from January to March this year, which were between -21 and -33%.

Commenting, Clare Nessling, director at Conti, said: “Bargain prices and the opportunity to negotiate these down even further with some very motivated sellers mean that it’s most certainly a buyer’s market.
“In addition, despite the ongoing eurozone crisis, the growing strength of the pound, which has been rising against the euro to levels not seen for around four years, is boosting the budgets of British buyers.

“These factors, together with historically low interest rates, are making it more affordable to buy in Spain right now. And signs that the market is improving are starting to lift the confidence of prospective buyers.”

Conti says that mortgage availability is generally good, despite the negative headlines about the property market. Mortgage providers still have a healthy appetite for lending, with maximum loan to values still around 65-70%. Generally speaking, smaller deposits are possible in areas where house prices are more resilient, such as the Balearics, the Canary Islands, Madrid and Barcelona.

The company stresses the importance of seeking the right advice before agreeing to a purchase. Clare Nessling said: “You should always go through the same process that you would follow if you were buying a property in the UK. Take independent advice from an English-speaking lawyer who is not connected to your seller, estate agent or property developer. And ensure an independent valuation of the property is carried out, even if you’re buying in cash.

“It also pays to be selective. Many so-called bargains are being offered at knock-down prices because they’re of poor quality and in undesirable locations. It’s very easy to be pulled in by descriptions of ‘cheap’ or ‘knock down’ prices, but you really don’t want to end up with a toxic asset simply because you didn’t do your homework or take the right advice.

“It may be wise to look at re-sales, where you can get references from previous buyers and check any other re-sales being offered on the same development. As a result, you’ll get a much better idea of the property’s true market value.”

www.spanishdreamproperty.com

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Who is buying in Spain

British buyers may no longer be buying property in Spain but the Swedish are increasingly interested in bargain prices in the country.

According to The Real Estate Agency, the Spanish division of Fastighetsbyrån, Sweden’s leading real estate firm, requests increased 58% in the first quarter of 2012 and June is set to be the second best month for 2012 so far.

Daniel Nilsson, regional manager of The Real Estate Agency, said that Swedes are the biggest buyers at the moment.

'Strong European nations such as Sweden are really beginning to push hard into the Spanish real estate market. Given Sweden’s healthy economy and strong krona, Swedes are extremely realistic about the current economic climate in Spain and recognise that they can buy at a good price,’ he explained.

In 2011, the agency sold almost one in four of all resale properties in Spain to Swedes.

‘Swedes are happy to tap into the somewhat neglected resale market which affords more variety than the new build sector,’ he added.

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How do we help our clients?

How do we help our clients? We are a specialist business which works for the buyer and not the seller of a property. Our clients tell us abouit the property they are seeking and we 'find' properties that suit their requirements and budget. We work mainly in the southern Costa Blanca and Mar Menor area but also around the Moraira area in north Costa Blanca. These are areas we personnally know w...ell. We carry over 2000 properties on our web site but have access to many more. Because we work for the buyer we are not tied to showing properties from just one estate agent and can select from many. However we only work with those that have a proven track record of professionalism and good service that have been in business for a number of years.
We aim to ensure that not only do we find the best and most suitable properties for you to view but that you have a full understanding of the buying process and costs. We also offer after sales service.
Often people express their surprise at our honesty about both the properties and areas! We have no interest in selling any particular property to you just in finding the right property for you. We are happy to provide information and answer questions.
Often we here the complaint from our clients that all they have received from estate agents are loads of properties and pressure to make an appointment to view with them when in actual fact the agents have made no real effort to find out what they actually want, why they want it, when they want it and their preferences. We are different! Just ask our clients! We want to know as much as possible about your likes and dislikes. We mean it when we say 'YOUR dream matters!' And remember - our service is FREE to our clients too!

Assessment of distressed property markets compiled by website IPS

Assessment of distressed property markets compiled by website IPS

Many European property markets which have seen prices plummet in recent years could be good bets for overseas buyers but others should be left well alone, according to a new report from below market value specialists.
The United States, and Florida in particular, could be reaching the bottom of the market as prices are picking up in some areas. But IPS reckons it is a market only for experienced investors as prices vary so much depending on location.
Hungary is described as uncertain.
Greece is a high risk market at present even for experienced real estate investors, it points out.
Bulgaria, once the darling of overseas property investors has seen prices plummet in the capital, in the ski resorts and even on the coast where many British and Irish investors are trapped unable to sell.
It says that Portugal’s property market has been hit hard by the sovereign debt crisis.
Oversupply and the economy have put huge pressure on Spain’s property market, according to IPS. ‘It is now possible to buy a property below market value. If the banks are willing to lend then they must be confident this market has finally reached bottom in the more desirable coastal areas. Invest now if you want to grab a bargain in coastal areas. Properties are unlikely to get cheaper,’ says the report.

Property in Murcia

Demand for property in Murcia has surged by 78 per cent this year, according to one search engine..

The region has long been mooted as the fastest recovering area in Spain, with the upcoming international airport and Paramount theme park boosting its potential for property investors. But interest in the region's real estate has already started to grow on the overseas portal, with enquiries between March and May this year 78 per cent higher than the three months from December to February.

The increase in interest follows official reports that property sales across Spain have risen too. Although down on the year on year rate, real estate transactions grew by 21.9 per cent in the first quarter of 2012 compared to the last quarter of 2011, the Spanish College of Property Registrars revealed this week. This boost in sales has been attributed to the country's "intense lowering" of house prices, as holiday homes become even more affordable for international buyers.

Spain's financial woes and historic bank bailout continue to dominate news headlines, but the country's unemployment has also driven rents up, with rates growing by 0.7 per cent in April compared to last year. Now, investors are looking to take advantage of the falling prices and higher rents, and Murcia is one their main targets.

Tourist industry All gone

• By Ruth Doherty, Dec 13, 2011

·         Filed under: Travel News

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The Red Sea coast in Egypt has long been a popular destination with Brits looking for a short-haul sunshine getaway.

But Islamist parties calling for a ban on mixed gender sunbathing on its beaches, drinking alcohol and wearing skimpy beachwear could take the sizzle out of the fun in the sun.

Of the 15 million visitors to Egypt every year, 1.4 million are Brits, with 70% of us looking for a break at the beach resorts.

But the Muslim Brotherhood, which won in the first round of parliamentary elections last month, has a vision for a 'sin-free' Sharm el Sheik, a popular Red Sea resort, saying: "Tourists don't need to drink alcohol when they come to Egypt; they have plenty at home.

"They came to see the ancient civilisation, not to drink alcohol."

Another fundamentalist party in the running is Al-Nour, a group of Salafi Muslims who are clear in their objection to alcohol and bikinis.

According to the Daily Mail, they are also unsure whether unmarried couples should be allowed to share the same hotel room.

What's more, influential cleric Yasser Bourhami has called for 'halal tourism' - which includes restrictions on Westerners.

He shared his thoughts with private television network Dream TV, saying: "A five-star hotel with no alcohol, a beach for women - sisters - separated from men in a bay where the two sides can enjoy a vacation for a week without sins."

The tourist industry has already been badly hit by the political unrest in the country, which saw former president Hosni Mubarak ousted from his position.

Tourism accounts for around 10% of Egypt's GDP, and keeps around three million people in employment. But this year visitor numbers dropped by 35% during the unrest, and the total profit from tourism for 2011 is thought to be down a third on previous figures.

Alhambra what a place

Old Stats

Property sales made by foreign residents in Spain experienced an increase of 24.7% in the third quarter of 2011 compared to the same period last year according to statistics from The Ministry of Public Transactions.
This figure takes into account all foreigners who live in Spain while further statistics show that the provinces with the greater number of purchases by foreign residents were Alicante with 2097, Malaga with 951, Barcelona with 607, the Balearics with 516 and Santa Cruz de Tenerife at 476.
With this in mind, Spain looks set to continue this trend according to experts with a final rush of property buyers seeking out Spanish real estate. Experts are suggesting that tax breaks and low interest rates on savings accounts will be the main factors encouraging buyers to hunt down bargains.
‘The increase in property sales to foreigners shows that many buyers have been discerning enough to strike while the iron is hot and purchase properties that are well priced and in excellent locations,’ said Marc Pritchard sales and marketing director of Taylor Wimpey España.
The Holiday Lettings’ Insight Report for 2011 identified that there was a 3% increase in the number of enquires about buying Spanish property between January and October this year compared to the same period in 2010 while the report also discovered that people looking for holiday let opportunities in Spain was the second most enquired about destination among buy to let investors, after the UK, between January and October 2011.
Indeed, sellers dropped their asking prices by an average of 8.2% in 2011, according to Idealista.com, one of Spain’s leading property portals.
In terms of the cost per square meter, the average Spanish home now costs €2,084 per square meter, down from €2,270 per square meter a year ago.
‘Price falls accelerated in 2011. Everything suggests they will continue falling in 2012, by how much depends on what the banks decide to do with their real estate assets,’ said Fernando Encinar, head of research at Idealista.
‘They (the banks) will be the ones to slow down or speed up the price adjustment, and private sellers will have to reduce their prices and expectations, led not only by the economic uncertainty but also by what banks do with their prices,’ he explained.
Encinar is confident that the demand will be there if the price is right, and if banks will lend.
The Spanish government is keen to attract more foreign buyers. Earlier this year the Department of Housing organised a European road show to promote Spanish property overseas and the regional government in Valencia, a location that is very popular with foreigners, has set up a commission to study ways to sell more homes to foreigners.
In recent years, 23% of properties sold in Valencia have been bought by foreigners. The commission will study the market and ways to stimulate foreign demand for both purchase and rent.
‘We have to find out where the housing stock is and who the potential buyers are,’ said Isabel Bonig, the Valencian minister responsible for housing. She added that 30% of all sales to foreigners in Spain are in Valencia. Alicante is the most popular area with foreign buyers, accounting for 85% of sales.
The commission, comprised of government officials and representatives from the notaries, registrars, and chamber of commerce, will also look at ways to stimulate demand and promote property with a website, permanent information points and marketing activities.