Market Update.. The USD edged slightly higher against GBP overnight as The Fed Reserve’s meeting minutes seemed to point towards a continuation of their hawkish stance. The minutes indicated that the central bank should eventually slow the pace of aggressive rate hikes, however The Federal Reserve are still intent on having high interest rates until further evidence shows inflation dropping naturally. The problem the Fed Reserve has is they are keen to bring inflation under control whilst also ensuring they avoid a major recession in 2023 which would lead to steep job losses. Markets are curr ..read more

Four in ten properties sold to foreigners in Spain are in Alicante… A staggering 40 percent of all the properties sold to foreigners in Spain in the first half of 2022 were just in the Costa Blanca and other parts of Alicante province, crowning it the residential tourism capital of Spain. It may be common knowledge that foreigners love the Costa Blanca, but new data reveals just how popular it is with second-home owners from overseas. During the first six months of 2022, 40 percent of homes sold to foreign buyers in Spain were in Alicante province, where the Costa Blanca is located. The Costa ..read more

 Overseas Mortgages – Currency Exchange – Wills – Financial Planning… Whether you are buying a dream home in the sun for a holiday home or moving permanently you may be looking for a mortgage to help finance it Before you commit to purchasing a property overseas you should make sure you know what your finance options are as once you commit to buy and pay a deposit if you can’t get a mortgage you may not get the deposit back. If you are thinking of buying cash and then looking to refinance at a later date across most of Europe that’s not always an options as there are very few refinance ..read more

Market Update… The USD surged by over 2% against both EUR & GBP after The Federal Reserve raised interest rates by a further 75 basis points last night, the fourth such rate hike in a row. Taking current interest rates in America to 4%. Comments made by Fed Chair Jerome Powell afterwards however was the main contributor to USD strength, with Powell stating that the battle against inflation will require borrowing costs to continue to rise. Recent economic data in The U.S now suggests that inflation will climb higher than previously thought, ultimately paving the way for further rate h ..read more

Spain looking to scrap 90 day rule for Brits… Spain wants to eliminate the 90-day limit for UK visitors, allowing them to stay in the country indefinitely, as they were previously allowed to before Brexit. Currently, visitors from outside the European Union (EU), including the UK, can visit Schengen countries for 90 days in every 180-day period. According to a report by Publituris, Spain will ask Brussels to lift this rule for British tourists, with Spain’s Secretary of Tourism, Fernando Valdés, stating that this restriction “goes against the interests of Spain”, adding that “it is a rule that ..read more

Plans to limit foreign property buyers in Spain’s Balearics… Plans to limit foreign property buyers in Spain’s Balearics could make it more difficult to buy a holiday home on the Islands The Balearic Islands government is proposing limits on the number of properties that can be bought by non-resident foreigners on the popular islands of Mallorca, Menorca, Ibiza and Formentera. In the regional parliament on Wednesday, Minister for Labour, Tourism and Industry Iago Negueruela pushed the motion, calling for a “deep debate” on how to limit the purchase of homes on the Balearic Islands to non-resi ..read more

New campaign for the ‘anti-aging’ effect of the Canary Islands… The department of Tourism have launched a new campaign called ‘Winter Is Coming’ to attract long-stay tourists to the Canaries sunshine this winter, from nine European markets: the UK, Germany, Spain, France, Italy, Belgium, Norway, the Netherlands, and Sweden. It is aimed at the ‘silver plus’ sector, which is people over the age of 55, who are the ones who have the most free time and disposable income to enjoy longer holidays and escape the cold. The campaign is based on the hypothesis that the Canary Islands have ‘anti-aging’ p ..read more

Get paid to move to Spain and double it by having children… Many smaller towns and villages are facing depopulation as people relocate to cities and need to attract new residents so are putting schemes in place to help grow their population Brits can get paid to move to Spain and then receive some extra cash by having a child there. Many small villages and towns are struggling with depopulation as young people relocate to cities. Local councils have decided to entice new residents with attractive financial offers in a bid to fill their schools and revitalise their communities. Ponga in Asturi ..read more

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Why you shouldn’t leave your Spanish bank account inactive for too long…. When buying a property in Spain you will need a Spanish bank account to pay for your general running costs and mortgage payments. If the account is no longer needed, you should make sure you close it if it’s not being used regularly Not using a bank account you have in Spain can cost you dearly in the long run, with both the country’s tax agency and your bank having the right to take all or some of your money. Bank transactions in Spain are monitored by the watchful eye of the country’s Agencia Tributaria, also known as ..read more