VIVA’s Martina Heynemann hosts members of the British press

When a group of 16 prominent British journalists and mortgage specialists visited the Costa del Sol earlier this month on a fact-finding mission, VIVA were delighted to have the opportunity to play host to them for an afternoon presentation and Q&A session, organised by Moneycorp, who have been dealing in foreign exchange since 1979 and have a network of offices in the UK, USA and Spain.

The aim of this research trip was to get the low-down – first-hand – on the current state of the property market in Mediterranean Spain, with particular reference of course to emerging trends among British expats and home buyers alike…. And VIVA Managing Partner, Martina Heynemann, was only too happy to share her knowledge!…

Following recent reports in the UK press that there were nearly 90,000 fewer Brits registered at Spanish town halls at the end of last year than at the end of 2012, Martina was asked if it was true that Britons were still coming to Spain, or all leaving? To which she replied that, by nationality, Britons are far and away the largest group of overseas buyers, currently representing 42 per cent of VIVA clients – and followed in second place by Scandinavians who account for 28 per cent – while at the same time also pointing out that it’s only natural that expats leave Spain every year for a number of reasons, including health or family problems, new job opportunities or advancing years.

British journalists and mortgage specialists visited the Costa del Sol earlier this month to find out about the current state of the property market in Mediterranean Spain.

Other topics that the fact-finding group were keen to know more about included the type and price of properties that Brits were typically looking for. And Martina explained that the greatest demand is for 2-bedroom, 2 bathroom apartments, while this year VIVA are also selling an increasing number of villas, and that the average price range – which last year was from €100,000 to €300,000 – has also grown this year with clients paying up to €2m for a villa.

Another way in which the Costa del Sol property market is evolving, Martina explained, is our buyers’ profile because we find that small investors are now being replaced by end-users and larger investors.

VIVA Managing Partner, Martina Heynemann, answers British journalists’ questions.

There were questions about the number of British buyers needing a mortgage, too. Although, as Martina explained, that only applies to around 15 per cent of VIVA clients while the journalists had thought it would be nearer 80 per cent. And on the subject of bank repossessions, which the journalists and mortgage specialists had assumed were in huge demand, Martina pointed out that in fact they only amount to some 5 per cent of VIVA’s total sales.

The group attending the presentation at the VIVA Centro head office in El Rosario, held jointly by Moneycorp and VIVA on 14 May, included journalists Pam Atherton and Nicole Blackmore (The Telegraph); Andrea Watson (Daily Express); and Chiara Cavaglieri (The Independent on Sunday); as well as mortgage specialists from Your Money and What Mortgage.