Brits getting ready to buy in Tenerife?

Brits sending money to Tenerife and Spain in order to buy property

Brits are getting ready to buy by transferring money abroad, according to Knight Frank. An increasing number of UK investors are sending money overseas to purchase a second home, the agency’s head of residential development James Price told OPP this week.

“The recession here in the UK is not really a factor,” he commented.
“People want to move at the higher end for tax reasons… this is a result more of the pull of both climate and culture, rather than any perceived ‘push’ from the UK.”

Price’s comments follows figures this week that show Brits are increasingly
looking abroad for holidays as the weather worsens in the UK. With prices
of property across Europe held down by the recession and the weakening
single currency, some may find themselves staying abroad for longer as they
seek out a place in the sun.

Spain still a top destination for holidaymakers

Spain remains one of the top destinations for holidaymakers around the
world, as tourist numbers and property enquiries both increased this
summer.
Figures released by the Frontier Tourist Movement reveal that Spain has
received 7.4 per cent more international tourists this year compared to the
same time in 2010, proving that the country’s beaches and culture are still
attracting visitors.
Around 32.3 million international tourists visited Spain between January
and July of this year, with July alone welcoming 7.5 million tourists. Up
to July 2011, Spanish airports received nearly 36.5 million passengers. The
busiest budget airline was Ryanair, which experienced a 25% increase in air
traffic to Spain.

Unsurprisingly, visitors from the UK led the way with 7.4 million
passengers (35.8 per cent), while Germany and Italy followed with 4.2m (20
per cent) and 2.2m (10.7 per cent).

The biggest rise to Spanish shores came from Swedish visitors (40.8 per
cent), who are purchasing an increasing amount of property in Spain. France
and the Netherlands also saw their number of tourists grow. Estate agent
Spanish Hot Properties comments: “Of all the tourists who chose to holiday
in the Costa del Sol, around 72% said they were attracted mainly by the
prospect of sun and sand which will come as no shock considering the
region’s exceptional climate.”

Spain continued to attract foreign interest in August too, Robin Brayne, Commercial Director of the overseas property portal, comments: “Once again, Spain is head and shoulders above the rest of Europe. People remain attracted by the country’s sunny coast and relaxed lifestyle, and further interest has been fuelled by the glut of repossessed & distressed properties being sold on by Spanish banks, offering homes at
superb value.”

Of course the Canary Islands, perticularly Tenerife remain popular for sales and purchase of propertyand holidays. As Spanish tourism soars this summer, the property market is looking increasingly sunny.

Annual inflation increases

Inflation on the rise in Spain and Tenerife.

Two weeks ago the National Statistics Institute predicted that annual inflation would climb to 3.8% in April, the highest rate in almost three years, and two points more than the previous month. On Thursday, while confirming this figure, the Institute commented on the price index, which had been worryingly low for a year and a half, and on more recently when oil prices reached record highs.

The monthly CPI rose 1.2%, the highest since October 2007 and analysts agree that the figures announced last week are worse than expected.

The price spike in March and April was influenced by products relating to leisure and culture, which experienced the biggest rise in two years, and clothing, which has been buoyed by the change of season. Looking at the progress of prices over the past year, energy products, leisure and culture, and food and soft drinks had most influence.

Core inflation, which excludes more volatile products – unprocessed food and energy products – rose four points in April from the previous month to 2.1%. Since the annual rates of these more volatile components have grown less than the rest in the last month, rising inflation has been due to other products that make up the CPI basket. This includes processed food (4.5%) and services (2.2%).

Hopefully this will not impact too much on people visiting Spain and the islands.

Source: Kyero.com

Spain and the Canary Isles still the Brits favourite place to buy a home

Spain is still tops for Britons buying homes abroad

Spain is the perennial favourite for Britons looking to buy a home abroad, confirms the latest survey by Channel 4’s A Place in the Sun.

The ranking for 2011 goes as follows (2010 in brackets):

1. Spain (1)
2. France (3)                    
3. Portugal (4)
4. Italy (6)
5. Florida (2)
6. Turkey (5)
7. Greece (8)
8. Cyprus (7)
9. Malta (new entry)
10. Egypt (new entry)

Here is what they had to say about Spain, Tenerife and the Canary Islands:

Once again, Spain remains the most popular destination for Brits to buy abroad and therefore tops our chart of the best places to buy abroad in 2011. After all, it has all the right ingredients – excellent access from the UK, sun, sea, culture and infrastructure. With repossessed properties and distressed sales hitting the market, the home of the Costas, Balearic and Canary Islands still has some great deals for the diligent buyer. Huge discounts on holiday homes mean there’s a multitude of destinations and property options on offer.

As we have been saying for a while now, this really is a great time to buy in Tenerife. In fact it is a great time to buy throughout Spain and its islands.  Check out the latest deals with your estate agent, particularly the discounts available  on prime property in Tenerife.

Adventure tourism on the increase

adventure tourism in Tenerife, reaches from the beaches to Mount Teide

Adventure tourism in Tenerife, reaches from the beaches to Mount Teide

Adventure tourism, long considered  for the small group of dare devils, is becoming more mainstream, with tourists more likely to rappel down mountains, cycle or volunteer while on vacation.

These adventurers are young, affluent and spent $US89 billion ($US97 billion) last year, excluding the cost of airfare and gear, according to a study by researchers at George Washington University’s School of Business.

“You have a lot of people who want to roll up their sleeves, get involved in a culture and have a more authentic experience than just laying in the sun,” said Dr. Kristin Lamoureux, an author of the study, which was conducted with the Adventure Travel Trade Association, an industry group.

The researchers questioned 850 travellers from North and South America and Europe. Seventy percent of international travel originates in those regions. Countries with the most travellers are the United States, Argentina, Brazil, the United Kingdom, Germany and Spain.

Although overall tourism figures were down by 6 per cent in 2009, according to the United Nations World Tourism Organization (UNWTO), the study showed that when people travel, they are more likely to engage in physical activities, providing a new revenue base for tour operators.

Based on their findings and data from the UNWTO, the researchers estimate that 150 million adventure trips will be taken next year.

“There is a perception that the adventure tourism market is a very limited group of people who are seeking high-risk activity, but the reality is that it’s a much broader market than we thought … and they are willing to spend,” Lamoureux said.

The typical adventure traveller was 36 years old, spent between $US450 ($A493) and $US800 per vacation, excluding airfare, and owned a passport, according to the researchers.

The biggest source of news for adventure tourists was their local newspaper and information found through Google and Facebook.

Most adventure travellers did not own cutting edge technology like iPhones, a crucial point, Lamoureux said, in helping tour operators maximize their advertising dollars, especially in times of recession.

Significant interest in Canarian property by British buyers once more

Significant interest in Tenerife and Canarian property by British buyers once more

Significant interest in Tenerife and Canarian property by British buyers once more

Taylor Wimpey Espana, the leading UK developer in the Spanish market has reported a significant rise in interest from British buyers seeking to buy holiday homes in Spain and the Canary Islands. Easter has traditionally witnessed a surge in interest from the UK market, April being just behind July as the best month for sales in Spain, but this year has seen a noticeable jump in enquires and sales.

Interest is particularly strong in the Costa del Sol and in the Balearics  and Canaries.

The company is also reporting that the profile of the typical British home buyer in Spain is not the traditional stereotype of a retiree. On the contrary, according to Taylor Wimpey Espana 75% of buyers are middle class executives, between 35 and 50, with a wife and children. More than 50% are looking for a second home for family holidays, attracted by the climate and culture. Although these buyers’ stays are concentrated during the summer, on average they spend between 45 and 60 days a year in Spain. Typically buyers are taking a long holiday of 20 or 30 days between July and August and the rest in the weekends throughout the year. During their time in Spain buyers spend an average of 6,300 euros a year which covers the maintenance costs of the home and food and transport (70% rent a car).

Move to Tenerife for a better quality of life

Moving to Tenerife may improve the quality of your life

Moving to Tenerife may improve the quality of your life

According to research by NatWest International, a good life/work balance under-girds the sentiment, with 87% of respondents rating their personal balance in these areas as excellent or good. The annual survey, which is undertaken with the Centre for Future Studies, asks expats to assess 16 “life experience” factors in order of importance and to indicate levels of satisfaction with each one. Nine out of ten British expatriates say moving overseas has given them a better quality of life.

For Britons abroad, financial security and financial wellbeing occupied sixth and eighth place respectively, with the natural environment, climate, culture and leisure, healthcare and education taking priority. In addition, the number of respondents who said they would return to the UK fell to 19% in 2009, from 26% a year earlier, despite the financial pressures of the global economic downturn.

Natwest International’s head of personal banking, Dave Isley, comments, “The fact fewer expats say they will return to the UK in the future, compared to three years ago, proves that the pace of life, work life balance and earning potential abroad means life as an expat is sunnier in more ways than one – and that they are weathering the financial storm.” The study also revealed that professional expats typically earn over £20,000 more than their peers in the UK, with 92% reporting a salary increase over the past three years.

So moving to Tenerife or one of  the Canary Islands may be the best decision you ever make.

Museums in Tenerife to be made more ‘Visitor Friendly’

Museum in Santa Cruz, Tenerife

Museum in Santa Cruz, Tenerife

The museums in Tenerife are to be made  more “accessible”, not just for those who have problems with movement but also sensory disabilities as well. The initiative has three main aims; to ensure that all citizens are able to access the scientific, cultural and historical services; to promote the adaptation of other services and to respond to the needs of all paying particular attention to accessibility, communications and new technology; and finally to establish good practice guidelines for all activities relating to the access of information.

The displays will be moved to enable easier access for the physically impaired, and items will be  provided with audio and tactile description to ensure the best possible experience for all visitors.

Although mainly a property site, The Tenerife Property Guide has many articles about the island, its culture and the host of things to do while visiting.