UK biggest buyers in Spain by Romano
During 2002, 34% of the homes constructed in the province were sold as second homes to mainly foreign buyers, contributing to the rise in tourists staying in accommodation other than hotels, the occupancy rates of which have shown a drop over previous years.

Although Spaniards from other parts of Spain are also active in the province's second home market, purchasing 31% of the total of second homes, the British have overtaken the formerly dominant Germans, who have been wary of taking on increased financial responsibilities due to Germany's sluggish growth over the last couple of years. UK citizens bought 35% of the residences sold as second homes in 2002, an increase of 8% from the previous year. Germans bought only 22% of second homes, down from 34% in 2001, while sales to French, Dutch and Scandinavian citizens have remained at roughly the same level as in 2001.

Manilva development launched
A reception was recently held at The Eliott Hotel, just off Gibraltar's Main Street, to mark the launch of our impressive new development in Manilva, La Vizcaronda.

This exclusive development consists of 113 three and four bedroom properties set above La Duquesa golf course, ensuring a marvellous view and easy access to all the coast's amenities.

The townhouses, villas and penthouses are generously proportioned, with private gardens and many communal facilities. With prices from €299,000 (Euros) to €460,000 (Euros) the properties are already selling well.

Please contact Feria Properties International Ltd for more information.

Come fly with me
Dutch airline Buzz, already flying from London Stanstead, is starting a new route from Bournemouth. There will be four flights a week to Malaga, using a Boeing 737-300, which can carry 140 passengers.

Scottish tour operator Globespan Group has established a new low-cost airline, Flyglobespan, which will begin twice-weekly flights from both Glasgow and Edinburgh in April.

Channel Express, an English travel company, has set up Jet2, an airline operating out of Leeds-Bradford airport. It will run budget flights from this airport to Malaga as from this month.

Railway line extension to Algeciras by Romano
The line will stretch for 110 kilometres and include at least five main stations in the province of Malaga (Mijas Costa, Marbella, San Pedro, Estepona and Manilva) as well as more than 20 smaller sub-stations in between. Algerciras is included in the Infrastructure Plan and the estimated cost's for the project are said to be 900 million €uros.

The density of the population between Fuengirola and Manilva could mean that the most viable route for the new line is alongside the Costa del Sol toll motorway. Optimistic calculations point to work on the new line starting at the end of 2004. This of course will open up the more dormant sections of the the coast, making for easy access directly from Malaga airport.

Residents Permits by Romano
"Those with the right to residence of a permanent character are nationals of the member states of the European Union and of other states that are part of the Agreement on Economic European Space who have developed an economic activity, either as employed or self employed persons, in Spanish territory and conform to all or some of the following circumstances. "That in the moment that they ceased the said economic activity, they had arrived at the age for pensionable retirement set by Spanish law, having exercised the said activity during the previous 12 months and having resided in Spain for more than three years." Click here for full article.

Forecast is good for 2003
After the dramatic 20% increases in housing costs seen in the province of Malaga during 2002, it looks like the property market is set to follow in a similar trend in 2003 according to the Valuation Society (Sociedad de Tasacíon). The experts in the real estate field predict prices to increase an additional 15% in 2003, as the trend of purchasing real estate as an investment continues. The prediction of further price increases is based on the number of units being built, and the rising cost's of construction. The present demand is attributed to various changing condition's associated with the stock markets. In 2002 the largest house price increases in the country were seen in Torremolinos, where the average price-per-square metre of a home increased by 32 per cent, to 1,050 €uros. Nonetheless, Marbella continues to be the most expensive real estate market on the Costa del Sol, with the average price-per-square metre at 1,338 €uros.

Spanish Boom
An informative article which discusses how to deal with The Sterling – Euro rate fluctuations
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