Commercial property markets in Europe struggle

February 8, 2012 – 11:01 am

The commercial property market in Spain, Tenerife and Europe is struggling in the current economic climate.

Commercial property markets in Europe struggled to keep pace with other parts of the world, as the effects of the global financial crisis continued to impact on investment and occupier markets, it is claimed.

Rental predictions were in negative territory across much of Europe with the noticeable exception of Germany in the fourth quarter of 2011, according to the latest Global Commercial Property Survey from the Royal Institution of Chartered Surveyors.

The prospect of an extended period of minimal growth, if not a retreat back into outright recession, is clearly weighing heavily on the sector in the wake of the ongoing turmoil relating to the sovereign debt crisis, it points out.

Source: PropertyWire.com

By Angela | Posted in Economy, General, Health, Holiday, Miscellaneous Articles, Property, Tenerife, Things to Do | Tagged , , , , , , , , , , , | Comments (0)

Pensioners suffering from the global recession

September 29, 2009 – 4:27 pm
Pensioners in Tenerife and overseas are not smiling as much since the recession.

Pensioners in Tenerife and overseas are not smiling as much since the recession.

Almost half of Britons abroad who are sending money back to the UK are aged 65 and over – suggesting that those pensioners who retired to the sun have been hit hardest by the recession and are being forced back to the UK.

Currency specialists such as Moneycorp and  HiFX has seen a 180% increase in the number of euro to sterling transactions and a 111% increase in the number of US dollar to sterling transactions in the past six months, compared to the same period last year.

Not only are more over 65s repatriating money, but they are also sending home larger amounts. This suggests that they are selling up property and returning home. In the last six months almost a third (32%) of the transactions over £70,000 have been made by over 65s. They have  calculated that British pensioners living in Europe have potentially lost out on almost €10billion of their income in the last two years due to the falling strength of sterling. When faced with this drop in their income, it’s no surprise that some pensioners are finding themselves forced to sell up.

Certainly this has been seen in Tenerife and the Canary Islands allowing the fortunate few with cash to obtain great property bargains.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , , , , , | Comments (1)

Investors sticking to proven locations like Tenerife following global market downturn.

September 20, 2009 – 4:10 pm

The index which tracks the level of interest in certain properties and countries from visitors to the site has seen changes.

British buyers stick with traditional locations like Tenerife after the credit crunch.

British buyers stick with traditional locations like Tenerife after the credit crunch.

The United States was knocked off the top spot in August’s Investment Property watch chart

France, a favourite with British investors and holidaymakers,claimed victory in August.

Industry experts are busy predicting that traditional locations will emerge victorious from the global market downturn and that is good news for Tenerife. Mortgage specialist, Conti, found that British investors are sticking to ‘proven’ locations that offer less risk. Spain is a  traditional hotspot. The credit crunch has been particularly hard on Spain, with hoards of unsold apartments lying unfinished as developers fell foul of the credit crunch. Now, huge discounts have led to the bargain hunters circling again, pushing demand for Spanish property back up.

For France and Spain, enquiries have increased considerably with the countries accounting for 53 per cent of all 2009 enquiries so far, compared with 29 per cent in the same period last year. British buyers are sticking to the more traditional overseas locations, especially those with history of providing good rental returns. The smart investor is no longer simply looking to where the best bargains for a swift return can be found, but to where security lies for a longer term investment and Tenerife certainly meets these criteria. perhaps it is time to visit your Tenerife estate agent and see what bargains are available again.

By Angela | Posted in Economy, General, Holiday, Inspirational, Miscellaneous Articles, Property, Tenerife, Things to Do, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , | Comments (0)