More expats planning to stay abroad

October 27, 2011 – 2:24 pm

In February, Lloyds TBS International released a survey that suggested 67 per cent of expats had no plans to return to Britain – compared to just 56 per cent when the same survey was conducted six months before.

Now, research by the company has revealed that even more people (69 per cent) are planning to stay abroad permanently, with 15 per cent saying they have cancelled plans to return in just the past year.

A combination of improved financial prospects and the belief that quality of life is higher overseas seemed to be the main motivation behind expats’ decision to stay. Despite the financial hardship that many expats, particularly those in Europe, have suffered due to adverse currency fluctuations since the beginning of the economic crisis, 64 per cent said they were still financially better-off abroad, with only a quarter saying that the cost of living was higher.

Nearly three-quarters (74 per cent) per cent said their quality of life was higher, with 51 per cent agreeing that their new home was a better place to bring up children. Many expats also felt safer abroad, with just 13 per cent saying that their neighbourhoods in Britain had been less dangerous.

Source: Telegraph.co.uk

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Spain’s credit rating cut

October 24, 2011 – 4:16 pm

Spain's credit downgraded

Spain has had its credit rating cut by Moody’s this week, following similar decisions from other agencies Standard & Poor’s and Fitch Rating. Moody’s downgraded the south European nation by two notches, from A2 to A1, noting that this decision was partly due to “the downside risks from a potential further escalation of the euro area crisis”.

The Spanish government stated that it believes the ratings downgrade is based more on the short-term problems in Europe, rather than the “long-term fundamental outlook” for the country.

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Iberia create low cost carrier

October 14, 2011 – 1:58 pm

Iberia low cost carrier to fly to Tenerife?

Iberia have finally approved the creation of their own low cost carrier, called ‘Iberia Express’, which had previously been registered as a new subsidiary to operate “on short and medium haul routes”. The board president of the airline, Antonio Vázquez, approved the move last Thursday. The new company, which will begin operations in summer 2012, will initially have four A320 aircraft, reaching 13 by late next year, which will all come from the airline’s current fleet, reported El Mundo. Iberia said the new subsidiary was created with the aim of “competing effectively” in the domestic market in Spain “as well as in Europe” and that it would not affect their partnership agreements with Vueling and Air Nostrum. “The creation of Iberia Express will not affect the terms and conditions of employment of current employees of Iberia, and will not change the ongoing collaboration with Vueling and Air Nostrum,” Vázquez said in a statement. Source: Kyero.com

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All time record visits to Spain in August

October 3, 2011 – 1:52 pm

Record numbers of visitors to Spain and Tenerife during August

In August this year 7.64 million foreign tourists visited Spain, an all-time record for the country.

According to reports from FRONTUR, August saw a 9.4 per cent increase in the number of tourists from 2010, indicating a new monthly high for the booming Spanish tourism industry.

Since the beginning of 2011, 40 million tourists have visited Spain, a 7.8 per cent increase over the same period last year. The Ministry of Industry which produces the tourist movement survey suggests that August visitor figures ‘reinforces the good prospects of Spain in 2011′ highlighted by the fourth best year in the history of Spanish tourism, a great achievement considering the economic recovery only began back in the second half of 2010.

Further data indicates that while Brits are one of the most regular and indeed loyal visitors to Spanish shores standing at 9.5 million, there has been impressive increases in numbers of other foreign visitors, with a rise in American, German and talian visitors. By destination, Catalonia was the largest recipient of foreign tourists receiving 1.9 million visitors in August, while the Balearic Islands followed closely behind with 1.8 million.

Ignacio Osle, Sales & Marketing Manager of Taylor Wimpey España, comments, “Despite difficult economic conditions across mainland Europe, Spain is one of the most resilient holiday destinations, remaining popular with foreigners whatever the market conditions. Recently, the IMF stated that Spain will be the only country that will experience higher levels of growth next year compared to its European counterparts of France, Italy and Greece.”

The rising number of overseas visitors continues to spell good news for the property industry. Osle adds: “Mallorca is one such destination that has performed better on the property front than its mainland counterparts offering strong rental market potential.”

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Spain still a top destination for holidaymakers

September 3, 2011 – 9:12 am
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.

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Europe not at risk of slipping into another recession.

August 28, 2011 – 1:32 pm

Europe not at risk of entering recession again

Europe is not at risk of slipping into another recession and the euro region will attract new members rather than break up, the secretary general of the Organisation for Economic Cooperation and Development predicted yesterday.

“I think more countries will be joining the euro,” Angel Gurria said. “The euro and Europe will remain the largest trading bloc in the world for a long time to come.”

Efforts by European leaders to stop the spread of the region’s debt crisis by strengthening its EFSF rescue fund are also likely to succeed, he said. The size of the EFSF should be more than doubled to at least €1 trillion to provide a bigger safety net, he added.

The eurozone will not be able to collectively issue bonds any time soon: “It’s not going to happen,” he said. “To mutualise the risk it requires a much more important level of political integration, which is not there yet.”

Source: Independent.ie

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Experts notice return of UK buyers in Tenerife and Spain

July 22, 2011 – 10:55 am

Experts notice Expats returning to Tenerife property

UK buyers are returning to the Spanish market to buy high quality properties, suggest experts at the Manchester Evening News.

Unlike the distressed sales of low quality abandoned projects, the demand for quality developments is growing. Experts have noted a 24% increase in interest in the first 5 months of 2011 compared with the same period last year, with company director Kim Brown explaining to A Place in the Sun that the country’s weather, lifestyle and established expatriate community seem to be the main reasons for its enduring appeal.

While the low quality end of the market is still in crisis, with Spanish ministers touring Europe in a bid to encourage sales,when it comes to the luxury end its a much better situation. However, buyers are much more savvy compared with the years prior to the economic downturn. Looking for developments with security and other additional benefits.

Tenerife holds some great opportunities for those who are willing to explore the property market now, whether prime property, coastal , to buy or let, a good estate agent will point you in the right direction.

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Euro falls as shares slide

July 20, 2011 – 10:29 am

The weakening of the Euro is good for travellers from Britain to Tenerife

The euro dropped the most in a week against the dollar. Italian and Spanish bonds slumped, while shares slid on concern Europe’s debt crisis is worsening. Gold topped a record $1,600 an ounce and silver rose for a fourth day.

The single currency sank 0.9 percent to $1.4022 at 3:31 p.m. in Hong Kong. Yields on 10-year Italian bonds increased nine basis points, while Spanish 10-year debt yields climbed 14 basis points. The Stoxx Europe 600 Index retreated 0.7 percent and the MSCI Asia Pacific excluding Japan Index lost 0.7 percent. Standard & Poor’s 500 Index futures fell 0.6 percent. August- delivery gold rallied for a 10th day and silver jumped 2 percent. Wheat and corn both declined at least 1.3 percent.

European leaders are holding a special summit this week as they seek to contain the region’s debt crisis, after eight of the region’s banks failed stress tests and European Central Bank President Jean-Claude Trichet reiterated the ECB won’t accept as collateral bonds from a nation that defaults. President Barack Obama continued to reach out to lawmakers in both parties this weekend in search of a deficit-cutting deal as the Aug. 2 deadline for raising the U.S. debt ceiling looms.

“What you have at the moment is a lot of indecision,” Simon Flood, chief investment officer at Lion Global Investors Ltd., said in a Bloomberg Television interview from Singapore. “The biggest risk that concerns investors at the moment is what is going to happen in the U.S. People are obviously watching the developments in Europe.”

However a weak Euro is good news for tourists travelling to Tenerife from outside the Euro zone.

Source: Bloomberg Business Week

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Investors in Tenerife and Spain benefit from more rental opportunities

July 19, 2011 – 12:26 pm

Rental opportunities in Tenerife increase

Investors interested in property in Spain could benefit from more rental opportunities as more Brits choose to holiday in Europe. 

According to a new study by Abta – The Travel Association, bookings to Spain have increased by 11 per cent compared to last year, showing that the destination is becoming more popular with holidaymakers.

Short breaks are also seeing more people travelling into the country, especially to Madrid, as economies around the world recover and capital has been freed up to boost overseas stays.

“During the recession, luxury holidays were substantially affected, but have now experienced a healthy comeback,” Abta said in a statement.

Source: International Business Times

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British property buyers keen on Tenerife and Spain

June 23, 2011 – 12:24 pm

British overseas property buyers are becoming more interested in owning homes in nearby Europe than further away as transport costs increase, according to Rightmove Overseas.

The UK-based listings website’s search report for May showed an overall increase in searches for overseas property of 15.3% compared to April.

The top movers included Poland, which broke into the top 20 for the first time as searches increase by 248%. Elsewhere, the German region of Bavaria had 82% more searches month-on-month and 17 out of Italy’s 20 regions recorded increased user activity. In France, the Dordogne, Aquitaine and Limousin regions all received increases in enquiries, with 74%, 47% and 39% respectively.

Shaheem Golamy, head of Overseas at Rightmove, told OPP this week: “After the bank holidays in April, searches for overseas property increased by 15% in May as people settled back into their normal routine.”

Tenerife continues to remain extremely popular amongst holiday makers and prospective purchasers of second homes.

Source: OPP.org.uk

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