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

National Park Property Reduced in Fuerteventura For Sale

Recently reduced Parque Natural villa offerred for sale exclusively from Goldacre Estates in Corralejo, Fuerteventura represents exceptional value in Spain as this duplex 3 bedroom semi-detached house borders the famous Dunes formally declared a National Park which look out to Lobos Island and Lanzarote. This particular villa has clear views to the Dunes and Sea from the kitchen downstairs and even more panoramic views from the upstairs sun terraces. The property benefits from a fully tiled patio both front and back giving extended useable outdoor living spaces suitable for al-fresco dinning and has its own gated car-port. Downstairs the front door opens into a spacious lounge with bay windows and beautiful internal wooden staircase. 2 downstairs guest bedrooms with shared bathroom include built in wardrobes. The kitchen is independant with windows to the East and a glass back door leading to the back garden terrace and large utility / store room. Upstairs the large master bedroom with built in wardrobes looks out Westwards. The seperate bathroom is tastfully tiled. From the landing a glass door leads out to the top floor terraces which look out onto the dunes towards the sea. The area of Parque Natural extends out from the cosmopolitan town of Corralejo with its various bars, restaurants, shops, marina and harbour, following the line of the protected National Park where no other building is permitted. It offers a quiet residential feeling being just outside of the main town centre yet is is only a few minutes away from all amenities. As a brand new, never lived in property this is an ideal opportunity for a new owner to put their stamp on it and make this a comfortable home or ideal holiday residence with short term letting providing a ROI. With a season of a minimum 20 weeks and a realistic potential of 40 and at this reduced price the ROI is strong indeed. For more information about this villa or about how to earn a strong return on your second home speak to Goldacre Estates Sl on 0034-928535044, contact info@goldacre-estates.com and view http://www.goldacre-estates.com

Grandes Playas Frontline Property for Sale in Fuerteventura

Exceptional Opportunity Luxury Villas, Frontline to the Ocean Grandes Playas, Corralejo.

Beachfront villa finished and furnished to a very high standard of quality with stunning views around the whole of Corralejo bay. Properties are rarely available for purchase on the “frontline” and we are privileged to be able to present two adjoining executive villas of stunning quality.

The first villa comprises 3 bedrooms and the second is 5 bedrooms with 2 bathrooms (master has en-suite with oversized jacuzzi bath plus a dressing room) lounge, kitchen, all fully furnished, roof terrace, sauna, wooden-beam ceilings, fully air conditioned, large sun terrace with views and bar-b-q, garage for 2 cars and heated swimming pool.

A rare opportunity on the frontline available at a reduced starting price of 550,000 euros.

For more information contact info@goldacre-estates.com, call 0034-928535044 or visit http://www.goldacre-estates.com/

Fantastic Villaverde property For sale in Fuerteventura, Canary Islands

This Beautiful Villa situated in the heart of one of Fuerteventura’s oldest towns Villaverde keeps its traditional charm inside and out. Situated in the North of the Island it is close to Corralejo, El Cotillo and the beaches of La Oliva municipality.

It is a fantastic size with a tremendous amount outside space from the front with a private enclosed driveway and to the back with its incredibly private pool and garden area. Positioned in a cul de sac makes it the perfect setting for relaxation and tranquility. 3 bedroom 2 bathrooms single floor villa give’s the property more than enough room to accommodate a couple or a large family, in addition to the inside space there is another small property at the bottom of the garden with one bedroom fully fitted kitchen and living room with its own bathroom.

The swimming pool is a really good size with its own Jacuzzi to one end of the pool, and a lovely water feature at the other, surrounded by mature trees and local plants making it a lush tropical oasis.

Currency Exchange Brokers For Fuerteventura, Canary Islands & Spain

When buying or selling property in Fuerteventura, Canary Islands Spain, Currency Exchange is an important Part of the Process. Heres why from Moneycorp:

What is the difference between a high street bank and a foreign exchange broker?

When sending money to the Canary Islands most people use their high street bank. However, people are increasingly using foreign exchange specialists to make their international money transfers. So, what’s the difference?
Timing and guidance. Never underestimate the value of a good exchange rate.

Currency markets are constantly fluctuating and making your transaction at the right time can make a big difference to the amount of money you end up with.

For example, if you needed €20,000 in your Spanish bank account, transferring your pounds on the dates specified below would have cost you:

- 20 July 2010: £16985
- 20 Aug 2010: £16563

That’s a difference of £423 just one month!

A foreign exchange specialist will offer free information and guidance on the currency markets, helping you decide on the best time to buy. A forward contract is just one of the services a currency broker can provide. You book to buy or sell your currency in the future, at a rate you fix today. Forward contracts can help protect against adverse currency movements and can be used to lock into favourable exchange rates.

Staff at your high street bank have neither the expertise nor the breadth of market knowledge necessary to monitor the currency markets on your behalf. When sending money to Fuerteventura through your bank, you will have to accept the exchange rate on the day of transfer.

Plus, foreign exchange specialists offer more competitive exchange rates, as well as low transfer fees.

Below is another example of savings that you could have made by transferring pounds in bulk with Moneycorp rather than your high street bank.
Buying €20,000 with sterling:

Lloyds TSB
Natwest
MONEYCORP
Exchange rate
1.1463
1.1485
1.1724
Sterling cost
£17,447
£17,414
£17,059
Transfer fee
£35
£40
£15
Total
£17,482
£17,454
£17,074
Additional cost using a bank
£408
£380
-

Based on an exchange rate comparison on 19 May 2010 between Lloyds TSB, Natwest and Moneycorp.

Moneycorp charges a set transfer fee of £15 for a one-off transfer, irrespective of the amount. Transfer fees charged by the banks typically range from £20 to £40.
No matter the amount of your transfer or your needs savings can still be made in movement of money in any direction.

Using a currency specialist – The main benefits:
· Highly competitive exchange rates
· Easy account opening with no cost
· No commission charges
· Fast transfers, low fees
· Ability to fix exchange rates for a set time period, helping protect from adverse currency movements
· Expert guidance from your own dedicated Account Manager

Trust Moneycorp to take care of all your money transfers to and from Spain; however small or large. Their experts make the process quick, easy and highly cost-effective.

Contact Moneycorp in the Costa del Sol on +34 951 319 700 or, email costadelsol@moneycorp.com
Please mention Goldacre Estates when calling Moneycorp or contact them directly on +34 928535044, info@goldacre-estates.com

Currency Matters for Euro Property Buyers in Canary Islands

Transfer talk
Get more for your money with Moneycorp's forward contract currency deal, writes Stephen Tiley

WHEN transferring money to Spain and Canary Islands it’s important that you get as many Euros for your pounds as possible.
Transferring your currency overseas – whether you’re putting down a deposit on a home or making regular mortgage transfers – is often left to the last minute, which can cost you thousands due to currency fluctuations.
Timing your transaction is key and you should never underestimate the value of a good exchange rate.
Currency markets are constantly fluctuating, so making your transaction at the right time can make a big difference to the amount of money you end up with.
The amount of money lost or gained over the last five month for example is incredible.
For example, buying a Spanish home in Fuerteventura or Gran Canaria for 150,000 euros on January 28 would have meant transferring £129,310.
Leaving it just four weeks to March 1, would have meant bringing over £137,299, or a staggering £8000 more.
Two months later on May 17 and you would have saved £8,500 needing just £128,755.
Currency experts like Moneycorp can tailor its services to make sure you trade when exchange rates are in your favour and save you money.
A forward contract is just one of the services a currency broker can provide to clients making international money transfers.
You book to buy or sell your currency in the future, at a rate you fix today. Forward contracts can help protect against adverse currency movements and can be used to lock into favourable exchange rates.
Since November there has been a huge fluctuation from 1.11 euros per pound in January to 1.14 euros in February and up to 1.17 today.
The lack of direction suggests a steady relationship between the pound and the euro but it would be fairer to describe the alliance as a marriage of inconvenience.
For the euro and the pound the underlying problems are the same ones that have dogged them since the end of last year; debt and politics.
The common thread throughout the election run up was the way investors had been following the opinion polls. The more level the two main parties, the more investors shrank from buying sterling.
The chancellor’s forthcoming budget on June 22 should finally provide the pound with some direction.
The woes of the euro stem almost entirely from the maladministration of previous Greek governments.
In a situation dating back to Greece's fudged membership of the euro (many warned against it), the Athens government of the day used financial derivatives to conceal the true scale of debt in order to meet criteria set for membership.
Fortunately for Greece the EU Commission has now put a rescue package in place, however some disharmony still prevails.
In particular many other EU countries are concerned that the unrest in Greece may escalate to their own doorsteps if similar measures are put in place.
With all this uncertainty, let Moneycorp take care of all your money transfers to and from Spain; however small or large.
Our experts make the process quick, easy and highly cost-effective.

For more information on how Moneycorp can help get you more currency than from your bank contact Stephen Tiley in the Costa del Sol office on +34 951 319 700 or email stephen.tiley@moneycorp.com and please quote Goldacre Estates

Euro/Sterling Rates for Canary Property Purchase

The latest financial outlook from MoneyCorp on Euro / Sterling and Election fever: UK general election looms over sterling. Germany still playing hard-to-get on Greek bailout.

Although sterling had a slight downward bias it did not move far over the elongated week and was easily contained within a €1.1450 - €1.1650 range.

UK economic data played only the most minor role in sterling's fortunes. Of just a handful of figures only two did not relate to the residential property market. They were not very helpful. The CBI's distributive trades survey, a measure of retail sales, was steady at 13 and Gfk's consumer confidence index declined from -15 to -16. Mortgage approvals (the British Bankers' Association version) went up very slightly to 35k in March but fell well short of the 43k that analysts had predicted. The most positive result came with Nationwide's house price index. A +1.0% increase in April left prices 10.5% higher than a year ago.

Although the UK general election loomed ever larger over the currency, the prospect of a hung parliament did no particular damage. The most recent opinion polls put the Conservative party in the lead with the Liberal Democrats and Labour fighting for third place. If that were to be how the voting went and if it were to translate directly into parliamentary seats (neither can be assumed) a Conservative/Lib Dem coalition would be the most likely outcome. Investors fancy that between them Mr Cameron and Mr Clegg would be able to come up with a suitable plan to reduce the deficit. (The market's main problem is the three parties' steadfast refusal to explain which taxes will go up, where the spending cuts will come and how deep they will be.)

As with the pound, investors did not pay overmuch attention to the economic statistics from the euro zone. Not that there were many pan-Euroland data for them to examine. Brussels-sponsored confidence indices showed consumers (two points higher at -15) and industry (three better at -7) to be in a better mood. Economic confidence was three points stronger at 100.6. Inflation was virtually unchanged (provisionally) at +1.5% and unemployment was static at 10%. The best result came with Monday's purchasing managers' indices. The Euroland index rose by a point to 57.6, lagging behind Germany's better showing at 61.5.

For an nth week it was the Greek bailout that held investors' attention. There have been so many failed attempts at a rescue that it is almost pointless to review them yet again but the feeling of déjà vu is huge: The EU and - apparently - the rest of Euroland wants to dig Greece out of its debt hole in order to avoid destabilising the euro while Germany remains unconvinced that this is the only, let alone the best, way of going about it. As things stand, Germany says it will pay up only if Greece accepts its culpability and promises to mend its ways by subscribing to massive job losses and cuts to wages and pensions. Greece says it is doing its best but its citizens are not exactly lining up to be stripped of their financial security. Despite the protestations of success from Brussels there is not yet a done deal and there remains the real risk of contagion spreading to Portugal and Spain.

The early part of the week could well be a period of relative calm for sterling. Investors have made their best guess about the outcome of the election and what it will mean and must now sit on their hands to see what transpires. That enforced relaxation could well come to an end when the polls close and the results of the first exit polls hit the newswires on Thursday night. If ever there was a time for FX market users to join the ranks of the 'don't knows' this is it. If a weaker pound would totally scupper your investment plans the only safe course of action now is to cover the exposure completely. Otherwise, buyers of the euro should hedge 50% of their requirement and review the situation on Friday morning. Consider leaving an order on Thursday to provide protection in case there is a violent move as the results come out.

Source: Moneycorp

Rising Population and Foreign Property Ownership in Canaries

The population of the Canaries has risen to just over 2.1 million, according to the latest compilation of statistics provided by town halls in the region.

Canary Islands Fuerteventura, Gran Canaria, Lanzarote, Tenerife la palma, La Gomera and El Heirro - The figures show that the number of foreigners registered as living here permanently now stands at 305,000, nearly 15% of the total for the Islands. The overall rate of population increase has slowed compared to previous years, with the latest figure representing a mere 0.5% rise, according to the National Institute for Statistics. Spain's official population has risen to 41.2 million, of whom 5.7 million are foreigners (12%). Real Estate sales in the Canary Islands has contributed to the influx of foreigners who have chosen to leave the cooler parts of Northern Europe behind for the warmer winter months of the Canary Islands.

New flights to Fuerteventura and Gran Canaria have been added by Monach

New flights to Fuerteventura and Gran Canaria have been added to Monarch’s scheduled flying programme for next summer.

Two flights a week will operate from Manchester to Fuerteventura plus weekly services from Birmingham, Gatwick and Luton.
Gran Canaria will be served by two new flights a week from Birmingham and Manchester and a weekly connection from Gatwick.
The airline is also stepping up frequency to Tenerife, Lanzarote, Larnaca, Gibraltar and Ibiza.
The introduction of new services to Fuerteventura and Gran Canaria brings the total number of routes operated by Monarch for summer 2010 to 49.
Liz Savage, managing director of Monarch flights and holidays, said: “We are seeing huge demand for our mid-haul destinations this year and have responded to this with the introduction of Fuerteventura and Gran Canaria in addition to increasing frequencies to Tenerife and Lanzarote meaning even more people can take advantage of our low fares.”
Highlights of the summer 2010 schedule currently on sale include:
*New route Fuerteventura - two flights a week from Manchester and one flight a week from Birmingham, Gatwick and Luton
*New route Gran Canaria - two flights a week from Birmingham and Manchester and one flight per week from Gatwick
*Increased frequency: Birmingham-Tenerife - six flights a week
*Increased frequency: Gatwick-Tenerife - seven flights a week
*Increased frequency: Luton-Tenerife - seven flights a week
*Increased frequency: Birmingham-Larnaca - three flights a week
*Increased frequency: Manchester-Larnaca - up to seven flights a week
*Increased frequency: Gatwick-Lanzarote - up to six flights a week
*Increased frequency: Manchester-Lanzarote - up to seven flights a week
*Increased frequency: Luton-Gibraltar - daily flight
*Increased frequency: Manchester-Ibiza - six flights a week

Source: Monarch Airways and Phil Davies, Travel Mole.