Sterling sell off abated as Pound Strengthens against Euro

Sterling Sell off abated as Pound Strengthens against Euro

Sterling vs. Euro;

This week’s report will focus on the erratic swings in GBP/EUR rates, the news and data that caused the fluctuations, and potential moves in the coming weeks.  The story dominating FX headlines recently has been sterling’s rapid decline.  The pound has been subject to an aggressive sell-off as fears mounted that the UK may enter a triple-dip recession, which could result in the loss of our Triple-A credit rating; and the now looming prospect of an in/out referendum on Europe for 2015, has created greater uncertainty.  Last week, however, we saw the first significant retracement of this pressure and, once again, ECB President Mario Draghi was at the centre of the move.

The single currency began last week on the back foot as news broke of corruption and scandal in the Southern European States.  Spain and Italy were both back in the headlines with surprising allegations of undeclared payments from a secret slush fund being received by Spain’s ruling conservative party. 

This news was coupled with the announcement that Banca Monte dei Paschi di Siena, the World’s oldest surviving bank, was involved in a derivatives scandal . 

So why has this affected euro rates?  Essentially this calls on the old cliché “Markets hate uncertainty”. 

Though this caused a rise in GBP/EUR rates the largest swing in prices can be credited to the words of Mark Carney and Mario Draghi.  The incoming Governor of the Bank of England sat before the Treasury select committee on Thursday, and in his testimony to MP’s, he outlined his thoughts and intentions for the UK economy moving forward.  Mervyn King has suggested before that Quantitative easing has a diminishing rate of return, with regard to effectiveness, though Carney outlined that the BoE could expand the range of assets it purchases, whilst supporting the pound from further weakening, all without effecting the UK’s inflation target.  Sterling began strengthening both before and during Mr Carney’s words.

Mario Draghi once again serenaded the currency markets with his announcement last Thursday; speaking on the euros current bull-run.  He discussed the significance of the rate, with regard to growth and price stability, highlighting the dangers of a continual strengthening.  His comments on inflation hinted that a cut to interest rates may not be entirely off the table; the last time such a measure was taken, we saw GBP/EUR rates surge to four year highs.  His words came as a surprise to many, most expected him to touch upon the euros recent appreciation, though the announcement appeared more of a concerted effort to talk the single currency down.

Much of the recent coverage of GBP/EUR rates appears to show the UK, seemingly, in perpetual decline and the euro storming the markets.  Yet the most recent NIESR GDP estimate for the UK came in at 0.0%; better than expected, however, sterling/euro is at a pivotal point.  The UK certainly is not out of the woods, despite the recent flurry of positive data, the last official GDP figures have been below forecast.  If this were to happen again the false hope could be doubly damaging for the pound.  Not only this, but the euros recent appreciation has largely been built on rhetoric rather than any concrete data.  Although Greece’s Finance Minister has suggested that they could begin the road to recovery by the end of the year, this remains to be seen, and if there was a cut to interest rates to stimulate the European economies, or more negative press, we could see the euro weaken again. 

Sterling vs. US Dollar;

It was another choppy week for cable and the swings we saw in exchange rates last week could well continue. Since the start 2013 sterling has been in free fall against the US Dollar, and the current trend shows no signs of improvement.

Positive UK retail sales data released on Tuesday did see a brief spike in rates; figures showed that sales increased for January by 1.9% compared to January 2012 which is the largest year on year rise since December 2011. The news saw the GBP/USD cross jump to a high of $1.5792 but sterling could not hold its value over the course of the day and rates quickly started to fall. By midweek the pound actually fell by 1% against the dollar to reach a low of $1.5634.

Over in the states talk of spending cuts and tax increases have resurfaced. The temporary fiscal cliff avoidance package put together by President Obama on New Year’s day is due to expire on the 1st March, leading the President  to approach congress to put another short term package together to avoid larger cuts next month. The proposal was quickly rejected and the longer it drags on the more likely we are to see the dollar come under pressure. Indeed last week’s poor US Q4 GDP figure was largely put down to fiscal cliff  pressures and if a permanent solution cannot be put in place, there is chance rates could start to push higher.

Thursday was a potentially positive day for the UK last week with the Bank of England holding their monthly meeting. However the expected hold on interest rates and no further QE only gave the pound a brief boost. Even when combined with the zero growth (but no decline) estimate of Januarys’ GDP the pound could not buck the general trend of decline against the Dollar. The UK economy seems to be the centre of attention and in the absence of growth the pound simply cannot keep pace with the Dollar at the moment.

With so much volatility surrounding the currency markets the use of Stop Loss and Limit Orders has increased in popularity; they can protect you against a falling market but also help target a rate that might not be currently available. For more information you can read our finance pages here or contact us at info@goldacreestates.com : http://goldacreestates.com/Finance 

 

Eurozone Gaining Confidence

Eurozone Gaining Confidence as Spanish Banks Ease Dependancy

Is there confusion again over Spain's banks? If so its not really new.   On one hand, the Bank of Spain said in mid-January that non-performing loans were on the increase and that more than one in nine would probably not be repaid.  On the other, the central bank said at the same time that Spanish banks were less dependent on emergency funding from the European Central Bank.  In December they borrowed €357bn, appreciably less than the €411bn they took last August. Prime Minister Mariano Rajoy is relaxed.  He is "absolutely convinced that Spanish financial institutions will not require any more funds than they were given already" because they have been subject to a "complete striptease" laying bare their financial circumstances.

The prime minister's optimism is shared, though perhaps with more caution, by investors. Since the beginning of the year they have been buying bank shares, lifting the value of Bankinter by a third and Banco Popular Espanol by a quarter. Investors are also much readier to hold Spanish bonds. Six months ago they were demanding a return of over 7% on their five-year loans to the government. Today they are content with less than 4%.

The change is symptomatic of a warmer attitude among investors towards the euro. A month ago it looked as if 2013 would turn out to be a better year for the single currency and halfway through January that is proving to be true.

Since the turn of the year the euro has strengthened by about five and a half  cents against the pound and by about four  cents against the US dollar. It has done so mostly as a result of improved sentiment.  Strange to think it was about twelve months ago when  most of the world were questioning the very survival of the single currency  with a full complement of member states. Today it feels reasonable to expect that singleness to continue, as a result of the determination of EU leaders and central bankers to do "whatever it takes" to save the euro.

Okay  so what else is happening?  

Interestingly instead, it is the pound that must face the tough questions. Even though the UK economy appears to be in better shape than Euroland, investors are not satisfied. They fear a third dip into recession. They fear the downgrade of Britain's AAA credit rating that might follow that dip. They fear the anti-Europe rhetoric in Westminster and the media. And because of those fears their appetite for sterling has faded.  Add to this the fear of further job losses in the Financial Services sector and the high street disappearing unemployment may still have  a further negative impact upon the  UK's timetable for recovery

So half the euro's performance against sterling this year is down to improved demand for the single currency; the other half is the result of investors' disenchantment with the pound. Both attitudes could change. It would be unusual if there were not some new panic in Euroland before too many months have gone by. The UK economy might pick up speed once the cold weather has passed and people are allowed to go back to work and school.

Stateside the new holiday destination of " The Fiscal Cliff" seems to have disappeared and the republicans have provided Mr Obama a little bit longer to sort out the economy and the debt ceiling which is standing around $17trillion.  Not sure how many zeros a in a trillion but its a lot. What the bet it could hit £20 trillion.  In fairness however housing, manufacturing and employment opportunities are all moving in the right way for the citizens of the USA.

The big decision if you are transferring money is timing so if you want to make more of your money and take expert guidance talk to our preferred  currency specialists. If you want to guard against rate fluctuations and get the best deal for your Sterling contact us and read our financial pages here: http://goldacreestates.com/Finance .

Advice on Selling Your Property

Here are a few tips to Help Sell Your Property in Fuerteventura

Preparing your property for sale

■Ensure your property inside and out is clean and tidy

■Ensure any minor repairs have been carried out prior to putting your property on the market

■If redecorating try and use light and neutral colours, this will make rooms appear larger

■Remove and put in to storage any unnecessary “clutter”

■Keep kitchen surfaces clear and make sure your oven is spotless!

■If you have a dog ensure it is kept under control and preferably out of sight. Many people will not share your confidence with dogs

■If you are using an agent leave the selling to the agent

■Prospective buyers will appreciate if you provide them with an estimate of your annual running costs

Taxes and Expenses

■For a detailed guide to selling taxes and expenses please consult the Selling section of “Advice for Buyers”

■Capital Gains Tax if you have made a profit after expenses Currently 18%

■Plus Valia – Municipal Tax on increase in land value

 ■Legal Fees

■Agency Fees

For more information on Selling Your Property consult our pages here:
http://goldacreestates.com/Sell

Global Housing Market Figures Released



Latest Statistics on Global Housing Markets

Latest figures from the Global Property Guide suggest Europe is still experiencing the brunt of the downward pressure comparing figures from the 3^rd Quarter 2011 to Q3 2012 in terms of property prices and sales numbers.

On a positive note the U.S. housing market continues to recover with the Federal Housing Finance Agency (FHFA) seasonally-adjusted purchase-only house price index rose by 2.31% year-on-year in Q3 2012, the highest growth seen since Q2 2006. The nationwide seasonally-adjusted S&P/Case-Shiller home price index also rose by 1.92% during the year to Q3 2012, in sharp contrast with its 7% year-on-year decline seen in Q3 2011.

Also Dubai in the U.A.E. has shown positive trends with the price index for all residential properties surged by 14.43% during the year to end-Q3 2012, as compared to a meagre year-on-year increase of 0.96% seen in the same period last year.

The Pacific markets also show signs of recovery with New Zealand 's median house price rose by 5.19% during the year to end-Q3 2012, in sharp contrast with the 4.39% year-on-year decline in Q3 2011. Likewise, Australia 's housing market is also improving, with house prices in its eight major cities falling by just 1.57% year-on-year in Q3 2012, the lowest decline since Q4 2010.

Some European markets are experiencing turnarounds with house price falls in Ireland decelerating. Ireland 's residential property price index fell by 13.17% year-on-year in Q3 2012, the lowest decline since Q1 2011. In addition, house prices have risen significantly in Austria, Turkey, Latvia, Germany, Iceland and Finland.

On the other hand many European housing markets remain extremely depressed, and continue their rapid spiral downwards. House price falls are accelerating in Greece, Spain, Netherlands, Portugal, Croatia and Lithuania. Of the 23 European countries included in the survey, 14 countries recorded house price falls while only 9 countries have seen house price increases. The nine weakest housing markets in our global survey are all in Europe.

Also the Asian housing market surge has weakened. Seven of the 10 Asian housing markets included in our survey performed more poorly this year than the previous year. But Asia 's biggest housing market, China, is recovering, judging by the latest quarter 's figures.

In inflation-adjusted terms, 23 housing markets have shown better year-on-year figures in Q3 2012 than in the same period last year, while 20 housing markets have shown poorer performance. However the nominal figures are slightly more disappointing—25 housing markets performed more poorly while only 19 performed better.

In Conclusion of the 44 countries for which quarterly house price figures are available, house prices fell in 23 countries, and rose in 21 countries during the year ending in the third quarter of 2012, again in inflation-adjusted terms.

The Global Property Guide's statistical presentation uses price changes after inflation, giving a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents. Nominal figures can be misleading, as suggested by the fact that year-on-year in Q3, nominal house prices rose in more countries (27 countries) than fell (17 countries).



 

 

 

 

 

 

European housing markets generally weak

The scale of the European downturn, the sheer size of the downward pressure, continues to surprise. Of the 23 European countries included in the survey, 14 countries recorded house price falls while only 9 countries have seen house price increases. To make the picture more dismal, the nine weakest housing markets in our global survey are all in Europe.

Ireland remains the world 's weakest housing market in Q3 2012. However, house price falls now appear to be decelerating in Ireland. House prices dropped 13.17% during the year to Q3 2012, the smallest decline since Q1 2011. House prices dropped by just 0.03% in Q3.

Not so far behind was Greece, with house prices plunging by 12.47% during the year to Q3 2012, the steepest year-on-year decline since 1998. House prices dropped 1.03% during the latest quarter. Greece is already on its fifth year of recession with real GDP expected to contract by 6% this year.

House prices have declined in Spain. House prices plunged by 11.87% during the year to Q3 2012, the biggest decline since Q4 1992. House prices dropped 2.78% during the latest quarter. The Spanish economy is expected to contract by 1.3% this year and by another 1.4% in 2013. The country 's deficit is projected to remain high, at 8.1% of GDP by end-2012. Overall unemployment is at a record high, at 25%.

The Netherlands comes fourth on the list of the world 's worst performers. House prices fell 11.43% year-on-year in Q3 2012, the sharpest decline since Q1 2009. On a quarterly basis, house prices fell 3.37% during Q3.

Romania 's housing market remains depressed. The average selling price of apartments plunged 12.76% year-on-year and fell 4.61% during the latest quarter. Romania 's economic growth is expected to be flat this year with real GDP actually declining 0.5% in Q3 2012 from the previous quarter. The economy fell into recession in Q1 2012 before seeing a minimal growth in Q2.

Many other European countries continue to suffer. These include Portugal, with house prices falling by 9.7% during the year to Q3 2012, Zagreb, Croatia (-8.03%), Warsaw, Poland (-7.64%), Bulgaria (-6.84%), Ukraine (-4.41%), Vilnius, Lithuania (-4.36%), Slovakia (-4.13%), Russia (-3.98%), UK (-3.97%), and Sweden (-3.17%). All of these, except Slovakia and Sweden, recorded house price falls during the latest quarter.

Some strong European housing markets relieve the gloom. Austria 's housing market remains ebullient, with the residential property price index rising by 7.53% during the year to Q3 2012, after rising by 11.26% year-on-year in Q2 and 8.24% in Q1 2012. House prices rose by 0.50% during the latest quarter. Vienna 's residential property price index rose a dramatic 13.10% during the year to Q3 2012.

Norway 's house price index rose by 6.55% during the year to Q3 2012, and by 1.27% during the latest quarter.

The upsurge in these two countries' housing markets was so strong as to propel them into fourth and fifth place in the worldwide league table.

Other European countries which saw moderate year-on-year house price increases to Q3 2012 included Turkey (4.96%), Riga, Latvia (3.38%), Switzerland (3.27%), Germany (3.16%), Estonia (2.62%), and Iceland (2.28%).

Finland 's housing market is also improving. The average price of apartments in old blocks of flats rose by 0.52% during the year to Q3, the first year-on-year growth after four consecutive quarters of house price falls.

 

 

 

New Spanish Airline Iberia Express to Fuerteventura & Gran Canaria

Spanish national airline Iberia  launched on Sunday 26^th  March a new low-cost airline.

The new airline, Iberia Express, commenced operations and with prices starting at €25 for a one-way ticket make it very competitive with other low cost carries such as Ryanair.

Iberia Express will cover Spanish cities including Madrid, Barcelona and the Islands such as Ibiza, Fuerteventura and Lanzarote Tenerife and Gran Canaria.

The launch of Iberia Express follows the recent collapse of Spain's fourth-largest airline Spanair.

The low-cost Iberia Express has currently 500 staff and has a fleet of four Airbus A320 aircraft, according to Iberia Express chief executive Luis Gallego who also stated also it is their intention to expand both personnel and aircraft later in 2012 .

"The containment of costs will enable Iberia Express to grow and compete with the other low-cost operators such as Ryanair and Easyjet," he said.

International Airlines Group is the ultimate parent, which was formed by the merger of Iberia and British Airways in 2011.

Canary Islands Holiday Rentals

Tourist demand for holiday rentals in the Canary Islands has increased by 14% in January 2012 compared to the previous year according to holiday letting companies.
The Canary Islands including Fuerteventura are attracting more independant holiday makers as they look for more reliable warm weather especially during the winter months.

More traditional destinations such as Menorca and Ibiza in the Baleric Islands meanwhile, would benefit from new investment in holiday homes to help improve the level of available rental accommodation. Recent cold weather accross mainland Europe has also affected future visitor numbers as footage of snow falling on the beaches persuaded many to look to the Canaries instead.

In both areas, house prices have held up better than those on the mainland as owners find they have a higher return on their holiday home investments.

Recently published figures by Tinsa show for the same year period house prices accross these two regions fell by 3.1% compared to the mainland 6.6%. This no doubt is also due to the 20-30% increase in tourist numbers in some of the Canary Islands like Fuerteventura compared to a rise across the whole of Spain of 7%. 

Fred Olsen Cruises to Fuerteventura

Fred Olsen have started a new program of cruises to include Fuerteventura, West Africa and Cape Verde.The new fly-cruise iteneraries will include 'Sun & Souks', 'African Beaches and Tropical Islands' and 'Morocco and the Canaries', departing from London Gatwick and Manchester airports.

Sales and Marketing Director for Fred. Olsen Cruise Lines Nathan Philpot said:

“This is a really exciting, innovative development for Fred. Olsen Cruise Lines. While we know that many of our regular cruise guests relish several days at sea, there are many would-be cruisers who are slightly younger and cannot take time for a leisurely voyage, or simply prefer to start enjoying their sun-seeking as soon as possible. The short and easy flight to Tenerife means that guests can start to enjoy their cruise holiday in the sun within hours. This is a great new product to help agents sell cruises to those who might otherwise take a traditional package holiday.”

The new fly-cruises will be between seven and 14 nights’ duration, with exclusive charter flights from London Gatwick and Manchester to Santa Cruz, Tenerife. The fly-cruises are available as a "cruise only" option, so that guests have even more choice when booking their Fred. Olsen cruise holiday. This flexibility means that agents can take advantage of "dynamic packaging" to create a tailor-made cruise experience that is just right for their customer. It also means that agents can sell cruises to their local markets using convenient regional airports, as Tenerife is served by flights from London Gatwick, London Stansted, London Luton, Manchester, Birmingham, Blackpool, Glasgow, Newcastle, Edinburgh, Bristol, East Midlands, Cardiff, Aberdeen, Belfast, Bournemouth and Doncaster Sheffield.

The cruise ship Braemar, based in Tenerife from January to March 2013 will depart from Southampton on 6th January 2013, on her repositioning cruise of seven nights, and will return to the UK on 24th March 2013.

A seven-night cruise will depart from London Gatwick/Manchester on 17th February 2013, visiting Lanzarote, Madeira, La Palma, El Hierro, La Gomera, with return flights from Tenerife.
The most popular fly-cruise is 14-night "Cape Verde, Senegal and The Gambia", calling at Fuerteventura, Cape Verde, Senegal, The Gambia, and Gran Canaria.

Canary Islands Tourism Up 18.5% 2011

Tourism in the Canary Islands has increased this year by 18.5%ahead of most European destinations. The islands that include Fuerteventura, Gran Canaria, Lanzarote, Tenerife, La Gomera,La Palma and El Hierro received 9.2 million visitors from countries other than Mainland Spain in the first 11 months  making the Canaries Islands the third on the list of Spanish holiday regions, behind Catalonia with 13 million and very close to the Balearics with 10 million. Across Spain tourism is on average up 7.7% this year making the Canaries increase over twice the National average.

The reason for the above average performance has been attribuited to the Islands all year warm weather - an important consideration to families looking for guaranteed sunshine. In Fuerteventura an increase in flights from all major European markets such as the UK and also new emerging markets like Denmark and France have also attribuited to the increase. Latest tourism board figures for Fuerteventura also suggest a doubling of promotional spend for 2012 which will introduce the Island to those yet to visit its golden beaches. Estimates for the close of 2011 are over 2,000,000 visitors to Fuerteventura alone.

Corralejo Cycle Against Cancer

Corralejo, Fuerteventura Canary Islands will host the next cycle against cancer on the 6/7th December.

Infact all the money of the registration will be donated to the research against cancer in  Fuerteventura.

On Tuesday 6th the race will be open for all participants over 11 years old, not for professionals, the race will start in front of campanario shopping centre at 10:00am and on the 7^th the competition will be open only for the professionals ,and it  will start al 12.00 am in the main street of corralejo.

If you want to take part to the contest you can write an e-mail to chussquita@hotmail.com ,or pass by at the libreria victor calle la Milagrosa 6 corralejo, or libreria tagoror calle virgin de la pena 15 In Puerto del Rosario .

You can follow all the news at the facebok page cicoloturista Dunas de Corralejo - there’s a fantastic opportunity to do sport, enjoy yourself and do something good!

Latest BuyIn Fuerteventura Magazine edition available

Local magazine BuyIn Fuerteventura has just printed their latest edition to be picked up from hotels and selected outlets across the island including Goldacre Estates in the CC.Oasis Tamarindo Corralejo. The newest edition focusses on the village of Lajares in the North with its close proximity to the North shore and beaches of Corralejo, Majanicho and El Cotilo. The magazine holds adverts also for local businesses and services important to those looking to invest in property here in the Canary Islands and Spain. If you are looking to advertise your business or property for sale or rent you can find all the details on the magazines website http://www.buyin-fuerteventura.com and you can view the magazine here: http://flipflashpages.uniflip.com/2/7750/103930/pub/index.html.  

Great Tarajal hosts the meeting of Creative Women

The Association of Mujeres Sabias y Emprendedoras(Entrepreneurs and Wise Women) will organize on Friday the Second Meeting of Creative Women, in collaboration with the City of Tuineje and The Association of Municipalities of Cento Sur. After a successful first meeting and high demand, this group has decided to repeat the experience and has set three goals: to make aware women who wish to participate in important role in the development of projects based on the search for new opportunities; encourage their initiative, and give women a strong self-esteem and confidence.

The novelty of this second edition is the participation of the Chamber of Commerce, Industry and Navigation of Fuerteventura, which presents the Business Support Program for Women . The meeting will be held on August 19 at Avenida de Gran Tarajal from 10.00 to 21.00. Registration can be done in the asociaciónmujeresmusabem@gmail.com mail or phone 692 103 752.

Anything you want to know about Fuerteventura, and more specifically about the property market (Mercado inmobiliario en Fuerteventura), or the Fuerteventura Golf, GoldAcre Estates can give you a hand.

GoldAcre Estates offers one of the largest selection of properties in Fuerteventura in lovely villages such as Corralejo and in great resort as El sultan always at a very competitive price. You can find great apartments that offer first line to the sea (primera línea).

For Further information click on http://www.goldacre-estates.com/english/pages/more.html

Or contact info@goldacre-estates.com

The Fuerteventura city council invested more than 500,000 euros in the refurbishment of the FV-320 road. The work will be finished by the end of the week.

According to Europapress, the president of the city council of Fuerterventura, Mario Cabrera and the mayor of Betancuria, Marcelino Cerdeña visited last Monday the advance of the work that will be finished by the end of the week.

Cabrera explained that this refurbishment was carried out  thanks to an investment of 274,230 euros, for resurfacing a section of the road. With the earlier rehabilitation also made by the city council, for another 4 kilometers, the total investment is over half a million euros  which has brought a significant improvement for locals and tourists who use this road.

 Cerdeña said that "thanks to the involvement of the city council we achieved a necessary work”

Fuerteventura is recovering from the financial crisis little by little, and many investments have been made for the past few months to improve the roads, hotels, resorts…  We have to highlight the efforts made by the city council to improve the quality of life on the island that both tourists and locals can enjoy.

Fuerteventura, Canary Islands has always been a great place to live, nice weather and very laid back atmosphere, but it will be even better with all these improvements.

Fuerteventura is one of the best place in Spain to invest in property as well. The island has been attracting more tourists this year and it will go on this way. Great opportunities can be found with very good rental potential. Amongst all the real estate agency, one of them stands out. GoldAcre Estates SL offers the largest selection of property for sale in the island and will help you finding the home that best suit your needs, and can attend you in English, Spanish, German, French…

More information about Fuerteventura and the property market opportunities click on the following links:

http://www.goldacre-estates.com/english/pages/more/fuerteventura.html

http://www.goldacre-estates.com/english/index.html

Apartment for sale in Corralejo, Fuerteventura

Amazing apartment in Corralejo, Fuerteventura, the most beautiful part of Canary Islands. This apartment is situated close to the famous dunes and within easy walking distance of the town with all the shops, bars and amenities. This apartment comes fully furnished and with a large communal pool where you can fully enjoy the sun of Fuerteventura. It is the perfect apartment for a couple and we offer a very competitive price.
If you want more information about this apartment, or any other great deal we have been offering in Fuerteventura, please contact info@goldacre-estates.com, call 0034 928535044, browse options http://goldacre-estates.com or visit http://buyin-fuerteventura.com

GoldAcre again offers an amazing villa at a very competitive price in Fuerteventura

GoldAcre is back again with a great deal, an amazing villa at a very competitive price. This property is set in the tranquil village of Tindaya, Fuerteventura, with views of Tindaya mountain and the coast. This lovely villa is 10 mins drive to one of the most amazing beaches of Spain and Canary Islands. Unique design with the lounge upstairs opening out onto a large roof terrace. The price of this 3 bedrooms villa has been reduced to 250.000€. You will not find a better price in whole Spain and Canary Islands. Besides you will enjoy the sunny and beautiful island of Fuerteventura, the quietest part of the archipelago.

If you want more information about this villa, or any other great deal we have been offering, please contact info@goldacre-estates.com, call 0034 928535044, browse options http://goldacre-estates.com or visit http://buyin-fuerteventura.com

Increase in tourism spend in Spain and the Canaries

The total amount spent by foreign tourists in Spain during the first quarter of this year (2011) amounted to €12.627 million euros, up 8.7% over the same period in 2010, according to the Tourism Expenditure Survey (Egatur) released today by the Ministry of Industry. This growth was in line with the arrival of tourists to Spain, which was up 8.5% through April, and was even slightly higher, thanks to the 0.2% increase in average spending per person, as the daily spend dropped 1.2%, to €94 euros. In April 2011, in line with the volume of foreign tourists arriving in Spain, the increase in total expenditure jumped 24.1% to €4.217 million, with gains in both average spend per person, 2.5% (€894 euros) and in the daily spend, 5.1% (€94). These results confirm the growth in demand and the consolidation of the recovery of the upward trend of foreign tourism in Spain while taking into account the effect of the Easter holidays during the month of April and especially flight cancellations due to the eruption of volcano in Iceland in April 2010.

The main markets in the first quarter of 2011 were the United Kingdom and Germany, which accounted for 25.5% of total spending, and in both cases there were increases of 5.6% and 2.8% respectively.

By region, the Canary Islands experienced a growth of 17.2%.

If you want to buy property in Canary Islands contact info@goldacre-estates.com, call 0034-928535044, or browse options at www.goldacre-estates.com.

Source:Canary News

El Sultan Residential , Townhouses for sale in Corralejo, Fuerteventura

Exclusive complex of 74 apartments and townhouses highly stylized with Arabic flavors.Designed with imagination and purpose, offering peace of mind and spatial comfort. Bordering both the resort of Corralejo and the National Dune Park, this special location alows you easy access to the entertainments of a cosmopolitan port as well as the tranquility of the desert and sea. Buy it now you won't regret it.

If you want any further information contact info@goldacre-estates.com, call 0034-928535044, or browse options at www.goldacre-estates.com.

Access to Attractive Tax Incentives in Canary Islands

The Canary Islands historically benefit from different and stable economic and fiscal treatment in order to compensate for the effect of its insularity and remoteness. Thus, they have their own Economic and Fiscal Scheme (REF), Law 19/1994 on the Economic and Fiscal Scheme of the Canary Islands, subject to Spanish law and fully authorized by the EU.

The REF includes a series of tax incentives related to creating and developing business, some of the most outstanding of which are:

The Canary Islands Special Zone (ZEC), to which a 4% Business Tax applies (instead of the 30% under the General Scheme).

The Reserve for Investments in the Canary Islands (RIC) allows for a reduction of up to 90% of undistributed profits on the Business Tax base.

Exemption from the Tax on Property Transfers and Documented Legal Acts for the constitution, expansion and acquisition of investment assets.

Advantages of the Indirect Canary Islands General Tax (IGIC) related to VAT with a general rate of 5%, zero application to certain products and services like telecommunications or for the acquisition of investment assets as well as a limit for operating volume.

50% tax credit on the profits obtained for the sale of corporeal goods produced on the Canary Islands.
Significant tax deductions for investments made in sectors of interest.

Two duty-free zones of the five existing in Spain. The companies that set up in Canary Islands duty-free zones can also receive all other benefits offered by the REF.

These incentives mean that the Canary Islands is highly attractive to investment tax-wise; but they are not a fiscal paradise.

If you want to buy property in Canary Islands contact info@goldacre-estates.com, call 0034-928535044, or browse options at www.goldacre-estates.com.

Source: Proexca

Why should you buy a property in Canary Islands?

With more than twelve million tourists annually, the Canary Islands is one of the preferred tourist destinations of EU citizens, with temperatures that range between 16ºC ad 25ºC all year long.

The rich and varied vegetation of its protected areas (national parks, natural parks, biosphere reserves, etc.) and the historical-cultural heritage of the Canary Islands also allows its residents to enjoy an excellent standard of living in a luxurious environment as business is perfectly combined with the best leisure options.

Besides, the culture of Canary Islands is very impressive too. You can attend any of the many cultural events of renowned European prestige such as the Classic Music Festival, which is held simultaneously on all the islands; the Las Palmas de Gran Canaria Film Festival, the Spanish market for new film productions at screenings (Lanzarote); opera and zarzuela seasons at the Pérez Galdós Theatre (Las Palmas de Gran Canaria) and performances at the Guimerá Theatre (Santa Cruz de Tenerife); art exhibits at the Lanzarote Contemporary Arts Museum, at the "El Tanque" Cultural Facility in Santa Cruz de Tenerife and at the Atlantic Centre for Modern Art (CAAM) in Las Palmas de Gran Canaria, where you can also find the Canary Islands Museum where you can delve into the most remote past of the Archipelago, just as you can at the Museum of Natural History and Man (Santa Cruz de Tenerife).

If you want to buy property in Canary Islands contact info@goldacre-estates.com, call 0034-928535044, or browse options at www.goldacre-estates.com.

Source: Proexca

The Tide Is Turning On Spanish Real Estate

PrLog Press release
Many reports today constantly berate property in Spain, slow markets, glut of empty Spanish Real Estate , poor economic conditions all the reasons why you should not buy Spanish real estate, not many people focus on the real opportunity that exists in the market in Spain today, also many times key areas of investment are missed such as the Canary Islands and Balearic’s as Spanish property seems to be grouped all under one banner ‘Spain’ with no definition regarding area and location, in an interview late in 2010 Spanish Prime Minister Jose Luis Zapatero told U.S. news channel CNBC that prices had hit bottom and were on their way back up and this certainly seems to be the case within some areas of the Spanish Real Estate market.
Fuerteventura in the Canary Islands is starting to see a resurgence in buyers, Managing Director John Goldacre of GoldAcre Estates, who’s Head Office is based in Corralejo in Fuerteventura stated that the Canary Islands seem to be pulling ahead of mainland Spain in terms of leaving the recession behind them, for us we had a very difficult 2008/2009 and in 2010 we started to see some serious light at the end of the tunnel, 2011 has opened very well for property in Fuerteventura and we are expecting steady growth throughout the year.

Of course there still remains some great bargains to be had in the Canary Islands Real Estate market and if someone is seriously considering purchasing a property in Fuerteventura then there will be no better time than now, with some two bedroom townhouse’s as low as 69,500 euros, Sea front three bedroom apartments from 169,500 and villas in 10,000 m2 plots for 180,000 euros.

Goldacre believes that throughout the year property prices are going to start once again strengthening, not by large amounts but he believes the market will start to see increases coming in as of course some of the cheaper opportunities disappear as they continue to be snapped up by buyers who are getting wise to the opportunities and understanding that the low prices that we have seen will not be around forever.

The Christmas period for GoldAcre Estates saw many new clients looking to buy in Fuerteventura, because of course now the number of flights have increased to the Island particularly with low cost airlines like Easy Jet and Ryan Air running direct European connections including flights to mainland Spain’ two main hubs Madrid and Barcelona and as well as a number of UK airports.
Fuerteventura has seen a lot of inward investment through the crisis which has included major extensions to Fuerteventura airport, producing a new arrivals terminal, extensions to the runway and departure lounge.

The Canary islands offer some of the best weather within a short flying distance to the whole of Northern Europe and many people have wanted to escape the recent freezing conditions and enjoy the all year round Sunny conditions of the Canary islands.

Known as the land of eternal spring the Canaries offer some of the best year round climatic conditions in Spain, offering the buyers of real estate the opportunity to maximise on their investment throughout the year, of course many investors have realised that with a drop in price comes an increase in their % return on investment (ROI) as the strong rental season in Fuerteventura ensures exceptional rental opportunites.

GoldAcre Estates is one of Fuerteventura's longest established Real Estate Agents serving both the national and international client base in Fuerteventura
http://www.goldacre-estates.com

Source BuyIn Fuerteventura and PrLog Press release

Fuerteventura Unique Villa

Unique Villa in the Canary Islands
A truly one of a kind rustic, yet incredibly charming villa in La Oliva. This corner unit villa lies in the heart of one of the oldest village’s in Fuerteventura, the property has been converted into a 5 bedroom villa spaced out over 2 floors. The villa holds a very special feel to it right from the moment you 1st see it. Walking up to the spanish property the villa greets you with tonnes of character and charm with its beautiful Canarian appearance. Something that is sometimes hard to find. The garden area from the front entrance is perfectly manageable and is decorated in abundance of different and colorful plant life. All of the bedrooms are a lovely size with more than enough size to store no end of essentials, with the light flooding into the bedrooms, giving a cozy and tranquil space, perfect for anyone getting a good nights sleep after spending the day enjoying the sea and sun. The living rooms is a great size also with enough space to hang the 46inch TV on the wall, if a break is needed from the fabulous weather we have in Fuerteventura.
For me the most fascinating feature this property has which makes it so unique is the incredibly big, covered, Barbecue area. That also acts as a large entertainment area, and eating area. Utilizing this space for the kitchen also maximizes the amount of space we all wish to have in our kitchens.
Being a short walk into one of Fuerteventura’s most charming towns La Oliva you are never far away from restaurants, shops and a municipal heated swimming pool. The Canary Islands really do have some of the most amazing beaches from around the world and Fuerteventura’s Beach in La Oliva is a peaceful walk away.

For more information on this property please do not hesitate to contact us here at GoldAcre estates.

http://www.goldacre-estates.com/english/pages/propertydetail.asp?PropertyID=-2006800399