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

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.

Get Your Sterling Highs For Euro Exchange and Canary Property

Sterling appreciates against the euro to levels last seen in December 2008 Sterling’s appreciation against the euro continued last week with a new 18-month high recorded at €1.2114, whilst a higher low was seen at €1.1715.

The main releases from the UK saw the publication of the Purchasing Managers Index (PMI) figures, which are leading indicators of economic health and seen as a good barometer of the sustainability of the current recovery in markets around the world. The UK’s Manufacturing PMI maintained a 15-year high reading of 58 (above 50 is expansionary, below is a sign of contraction in activity) despite a small fall being forecast. The construction sector also continued its recent resurgence with a reading of 58.5 (which was marginally above expectations), while the services number – the most important of the three – was slightly down on expectations, but still strong at 55.4. All of this lends further credibility to the UK recovery gathering pace.
Elsewhere, the pound also gained on news that UK house prices rose to the highest levels in more than two years. The Nationwide Building Society said the average cost of a home increased 0.5% in May to the highest level since July 2008. They maintain their view that the current supply and demand balance in the market is still consistent, with relatively stable to modestly increasing prices.

The other main news of the week was the collapse of the ambitious attempt by Prudential to buy AIG's Asian arm. This prompted the unwinding of currency hedges put in place in anticipation of a deal, when the initial bid was announced back in March. AIG’s outright rejection of a reduced offer from The Pru’ put an end to the deal once and for all, with the UK insurer confirming that the deal was off on Wednesday. Sterling rose broadly on Tuesday as anticipation grew that the deal was close to collapse. The currency was still benefitting when the deal was finally taken off the table.

The euro has continued to struggle, as risk aversion at one point waned, resulting in renewed buying of riskier assets, including sterling. The recent downgrade of Spanish sovereign debt by credit ratings agency Fitch left the euro on the back foot due to ongoing structural weaknesses, particularly in the southern Mediterranean area of the eurozone.

Despite assurances from China and Kuwait that the euro’s current troubles would not affect their purchases of the single currency, rumours surfaced that Iran planned to sell some of its euro holdings as a result of the volatility. A Chinese news agency report that the Iranian central bank would sell €45bn of its foreign exchange reserves to buy dollars and gold further dented investors’ desire to hold the single currency. This adjustment to their reserve holdings was expected to be conducted in three stages, with the first tranche already underway. It was also claimed that other Gulf states had started to cut their euro holdings.
Data flows have had limited impact on the single currency in recent weeks and the same was true this time around. German retail sales and employment figures were better than forecast, whereas the Europe-wide unemployment rate remained constant. European retail sales were down 1.2% against the forecast of a small rise and revised GDP was unchanged at 0.2%. As mentioned above, this had almost no effect on the euro, with investors preoccupied with more serious matters. However, the data is not supportive of a broad-based recovery in Europe, which will be of concern to those nations about to embark on significant spending cuts that will only hinder growth further.
A more specific indicator of future growth rates was the composite European version of the Purchasing Managers Index (PMI). This showed a fall to 56.4 from 57.3 in April – although this was still above an estimated 56.2. The service sector component rose to 56.2 from 55.6, whereas the manufacturing figure declined to 55.8 from 57.6. The outlook for the region’s economy has darkened in recent months, as the threat of contagion from Greece’s fiscal crisis raises investors’ concern about the future of the euro area. While the problem has pushed the euro lower this year, making exports more competitive, governments have had to respond with tougher austerity measures to cut budget deficits. This, in turn, has dampened consumer confidence. Further alarming news from the eurozone came from an eastern European member state. Last week saw Hungary’s new Prime Minister, Viktor Orban reveal that his nation’s finances were in a “very grave situation” and that his predecessor had falsified the true state of his country’s finances.
Whilst Hungary is not the biggest economic power in the world, this news will further undermine confidence in the eurozone due to the lengthening list of nations that may need to seek emergency funding from the European Central Bank (ECB) in the future. With worsening economic conditions gripping the southern Mediterranean countries, we are already seeing great levels for euro buyers to hedge all or part of their exposure. Whether for a one-off real estate purchase or ongoing living costs, they would be wise to fix a price for half the amount of currency they are going to need. Hedging does not guarantee buying euros at the best possible price; it guarantees not buying them at the worst.

European Language Day Spanish, Canary Islands, Norwegian , French, German, Polish, get on with your European neighbors learn the skills to communic

European Language Day Spanish, Canary Islands, Norwegian , French, German, Polish, get on with your European neighbors learn the skills to communicate.

If "bon jaw" is the extent of your foreign lingo skills - you're not alone.

The Brits are notoriously bad at speaking foreign languages. According to a report by the European Commission, 62% of us can't speak any other language. We're officially the worst language learners in Europe.

The cringe worthy British holidaymaker treating the intelligent native as a slightly deaf, mentally challenged child, is a woefully common scene played out across the holiday resorts of the world and Europe such as Spain , Canary Islands, France,, Germany, infact wherever Brits wander.

But it doesn't have to be like this. European Languages Day, (26th September 2009) was created to encourage a love for languages, and to celebrate it, Learning the basics of the language of the country you're visiting is not only polite but fun, useful and will enrich your travel experience. so surprise the locals and impress your mates with our mini language guides.

Norwegian
Hello/Goodbye - Hallo / Ha det (ha-low/hah-deh)
Please/thank you - Vær så snill / Takk (var shaw sneel/tahk)
Where is the bar/beach? - Hvor er baren/stranda? (vohr ehr bah-ren / strahnn-ah?)
I'd like to go to - Jeg vil dra til... (yai veehl drah teehl)
I'd like a large beer/glass of wine - Kan jeg få en stor øl /et stort glass vin (kan yai faw ayn stohr uhl) /eht stohrt glahs veen)
Cheers! (when toasting) - Skål! (skawl)
My name is/What's your name? - Jeg heter (yai heh-tehr)/ hva heter du (vah heh-tehr dew?)
You're very pretty/handsome - Du er veldig pen / kjekk (dew ar vehl-dee pehn / chehk)
The bill please - Kan jeg få regningen, takk ( kan yai faw ray-ning-ehn tahk)
I love your country! - Jeg elsker landet ditt! (yai ehl-skher lahnn-eh deehtt!)
If you want cheap flights, try Skyscanner! - Hvis du vil finne billige flybilletter, prøv Skyscanner! (veehs dew veehl feehn-eh beehl-eeg-he flee-beehl-ehtter, pruhv Skyscanner!)

German
Hello/goodbye - Hallo/Auf Wiedersehen! (Halo/Awf veed-er-zane)Please/thank you - Bitte/Danke (bit-e /dang-ke)Where is the bar/beach? - Wo finde ich eine Bar/den Strand? (Voa feende eekh yn-e bar? /deen shtrant?)
I want to go to... - Ich möchte zu/m ... gehen (Ikh moekhte tsoo/m...gay-en)
I'd like a large beer/glass of wine - Ein großes Bier bitte/Glas Wein bitte (In growsehs beer bit-e/glas vyn bit-e)
Cheers! (when toasting) - Prost! (prost!)
My name is/What's your name? - Mein Name ist/Wie heißt du? (myn nam-e ist/Vee hyst doo?)
You're very pretty/handsome - Du bist sehr gutaussehend. (Doo beest zayr goot-ows-see-hent)
The bill please - Die Rechnung bitte. (Dee rekh-noong bit-e)
I love your country! - Ich mag ihr Land. (Ikh maak eehr laant)
If you want cheap flights, try Skyscanner! - Wenn Sie billige Flüge suchen, benutzen Sie doch Skyscanner! (Venn zee bil-lige flûg-e zookhen, be-nootsen zee dokh Skyscanner!)

Spanish
Hello/goodbye - Hola/Adiós (Ola/adios)
Please/thank you - Por favor/Gracias (por favor, gra-see-ass)
Where is the bar/beach? - Dónde está el bar/ La playa (don-de esta el bar/la playa)
I want to go to...- Quiero ir a (ki-ero ir a)
I'd like a large beer/glass of wine - Una cerveza grande/un vaso de vino (una servesa grand-de/un vaso de vino)
Cheers! (when toasting) - Salud (salud)
My name is/What's your name? - Me llamo/Cómo te llamas? (me lamo/como te lamas?)
You're very pretty/handsome - Eres muy guapo/guapa (e-res muy gwapo/a)
The bill please - La cuenta por favor (la quenta por favor)
I love your country! - Me encanta tu pais (me encanta tu pais)
If you want cheap flights, try Skyscanner! - Si quieres vuelos baratos, prueba skyscanner - (see quieres vel-los ba-ra-tos prueba Skyscanner)

Polish
Hello/goodbye - Dzień dobry/Do widzenia (jyen dob ree/ do-viz-en-ya)
Please/thank you - Proszę/Dziękuję (Proshair/jen-cu-yeah)
Where is the bar/beach? - Gdzie jest bar/plaża? (g-zhare-yest a bar-ra/pla-ja?)
I want to go to.. - Chcę dojść do... (H-serr do eash do...)
I'd like a large beer/glass of wine - Poproszę duże piwo/kieliszek wina (Po-pror-shor do-zha pivo)
Cheers! (when toasting) - Na zdrowie! (Na zdrow-vya)
My name is.../What's your name? - Nazywam się.../Jak masz na imię? (Na-za-vam- she-ya.../Yak mash na iimya?)
You're very pretty/handsome - Jesteś bardzo ładna/przystojny (Ye-ste-zhe ba-zo-ard-na / Pres-to-in yeah)
The bill please - Poproszę rachunek - (Po-pror-shor-reh ho-neck)
I love your country! - Podoba mi się twój kraj! - (Podoba me-she foy kra-ye)
If you want cheap flights, try Skyscanner! - Jeśli szukasz tanich lotów, wypróbuj Skyscanner! (Yesh-ni, shockash stani hlakof, vi-pruvov Skyscanner)

French
Hello/Goodbye - Bonjour/ au revoir (bon jaw/orr rev-woir)
Please/thank you - S'il vous plait/ merci (see vu play/ mer-see)
Where is the bar/beach? - Ou est la barre// la plage (oo-eh la- baar/ la plaa-zhe?)
I want to go to... - Je voudrais aller... (zhe vu-dray a-lay...)
I'd like a large beer/glass of wine - Je voudrais une grande bière/verre du vin (zhe vu-dray oon gron be-air/vair du van)
Cheers! (when toasting) - Salut! (sal-loo!)
My name is/What's your name? - Je m'appelle .../ Comment appellez-vous? (zhe-ma-pell.../com-mon a-pell-lay vuu?)
You're very pretty/handsome - Vous est très belle/beau (Vu eh tray bell/beau)
The bill please - L'addition s'il vous plait (la-di-shon see vu play)
I love your country - J'adore votre pays! (zh'adoor votra payee)
If you want cheap flights, try Skyscanner! - Si vous voulez trouver les vols pas chers, visitez Skyscanner! (see vu vu-lay tru-vay lay vol pas share, vee-zeet-tay Skyscanner)

Source www.skyscanner.com

Optimism Is High For The Canary Islands Future

The year 2010 will be a significant milestone for the resurgence of the Canaries, and optimism is high for the Canary Islands future top politicians believe.
The European Union will be under Spanish presidency and president of the Government of Spain José Luis Rodríguez Zapatero believes this will give the archipelago a chance to put itself firmly on the European map. Despite the effects of the economic recession, Zapatero feels the Canary Islands can act as an international platform in relation to other continents for business and commerce opportunities. One big opportunity will be when the islands host a summit of countries from West Africa in Las Palmas. ZP says this will give Europe another chance to discover the Canaries which, he says, can forge ahead with vigour and force following the economic crisis.
The Spanish premier made his comments following a meeting with Socialists in Lanzarote. He revealed that the Cabinet will present, debate and approve a special plan of action on October 9. This strategy will continue medium and long-term measures for the reactivation of the Canary Islands which have been hard hit by the downturn. Zapatero says the plan is vital because of the archipelago's problems with tourism, the construction industry and rate of unemployment. The measures will aim to capitalise on the islands' strengths and, to this end, he stresses, it is vital to maintain close links and liaisons with all sectors of the community. ZP is still maintaing an optimistic outlook, believing the worst of the economic crisis has now past. On August 13, the Cabinet was due to discuss a new model of growth for the country.

Source Tenerife News

Is the overseas Real Estate market beginning to show signs of improvememnt …….

According to Primelocation.com they have reported seeing an increase in the number of websearches for spanish real estate increasing over French real estate and amercican real estate from the British marketplace as over 1 million search for overseas property in February, the number of enquires being mirrored by GoldAcre Estates for Canary Islands real estate and golf property runs very much in line with the increase in sales for the same period…………


In spite of difficult economic conditions and significant falls in the value of Sterling, searches for international property on Primelocation.com increased in January 2009 by 72% month-on-month and broke through the one million barrier in February, according to data released yesterday. Spain was the most popular country searched for on the portal, attracting just under 300,000 searches, some 60,000 ahead of last month’s most popular country, France (238,729). The USA held on to its third position with 153,912.The portal believes that the countries that have performed the best y-o-y are those located outside the Eurozone, with the USA for example rising by 130% in popularity during that time. Searches for Turkish and Australian property also performed well with a rises in searches of 25% and 18% y-o-y.“After a slow down in searches for international property in the second half of 2008, we have had a very strong start to 2009,” said the portal’s international business development manager Ann Wright. “Searches for international properties on Primelocation.com were up 72% on December and February searches and leads to agents look to be up over 100% on January. Some of the growth is in areas outside the Eurozone where sterling has suffered less than it has against the Euro. It may also be that people who held off investing in 2008 are now hoping to take advantage of the falling prices in some areas.”

Top 10 searches in February 2009 through Primelocation.com
1 Spain 299,762
2 France 238,729
3 USA 153,912
4 Italy 65,126
5 Portugal 56,882
6 UAE 18,596
7 Turkey 15,105
8 Australia 14,545
9 Cyprus 12,611
10 Bulgaria 12,220

Total searches during February: 1,002,810Monthly search destinations – Top 10 January 2009 1 France 29%
2 Spain 23%
3 USA 15%
4 Italy 6%
5 Portugal 5%
6 Australia 2%
7 UAE 2%
8 Turkey 2%
9 Cyprus 1%
10 Bulgaria 1%