I suppose that the main theme running through this 'so far', intermittent series is 'let the buyer beware'. Caveat emptor. Many investors, mostly non professionals, have sought, during the last five to ten years to augment their pension potential by purchasing, almost anywhere, on a guaranteed rental basis.
Personally, I don't believe that there could be such a thing as a guaranteed rent. Who is the guarantor? Is this person or entity immune to economic cycles, economic disasters? Is there any entity in the world that cannot fail? Whether you agree or not I suggest it is prudent to assume that I am right ; that there is no such thing as a guaranteed rent.
Many developers, during the boom years, and many 'irrationally exuberant' estate agents have offered huge 'discounts', guaranteed rents and 100% plus loans to thousands of unfortunates all over the world most of whom are now being bruised by harsh reality.
The message once again is be careful, deal only with and through professional, qualified, and bonded estate agents. Check them out. Happy, stress free, investment to all!
pci-international.com
Monday, October 29, 2007
Thursday, October 18, 2007
Property in Spain
Tenerife is a magical island with the magic being largely generated by Mount Teide; at 3700M the highest in Spain.
It has a fixed population of less than 850000 but welcomes more than 5 million visitors each year.
In recent years many overseas investors drifted away from Tenerife to pastures new: towards the new members of the EU and elsewhere. Prices appeared to be attractively low relative to Tenerife. However, these countries don't have the infrastructure, physical and social of Tenerife which is rapidly becoming a five star tourist destination.
Here you are part of the EU since 1986, enjoy a magnificent year round climate with consequent all year demand for property and, with the advent of companies such as Ryanair flying directly to south Tenerife, it is now feasible to take a weekend break from London or Dublin or Shannon or ...
'The hills abroad are always greener' but, it is difficult to conceive of any other destination in the world that can offer the facilities including health and security and general quality of Tenerife. Furthermore, practically everybody speaks English!
PCI-international.com
It has a fixed population of less than 850000 but welcomes more than 5 million visitors each year.
In recent years many overseas investors drifted away from Tenerife to pastures new: towards the new members of the EU and elsewhere. Prices appeared to be attractively low relative to Tenerife. However, these countries don't have the infrastructure, physical and social of Tenerife which is rapidly becoming a five star tourist destination.
Here you are part of the EU since 1986, enjoy a magnificent year round climate with consequent all year demand for property and, with the advent of companies such as Ryanair flying directly to south Tenerife, it is now feasible to take a weekend break from London or Dublin or Shannon or ...
'The hills abroad are always greener' but, it is difficult to conceive of any other destination in the world that can offer the facilities including health and security and general quality of Tenerife. Furthermore, practically everybody speaks English!
PCI-international.com
Tuesday, October 16, 2007
Spanish & Tenerife Property
There is a evidence that Tenerife has been occupied for more than 2500 years. The original inhabitants were known as Guanches and the balance of opinion suggest that they came to Tenerife from the area of Barbary and ancient Libya in north Africa.
The Berber tribes were, strictly speaking, not Arabs, and may be either fair or dark skinned. Recently, people were surprised to find that there are blond children in this historic area, in the context of 'sightings' of the little McCann child missing for about four months now from a holiday resort in south Portugal..
The islands were conquered by Spain (Conquistadores) during a period from 1402 to 1496 when Tenerife finally ceded in the second battle of Acentejo. This was a glorious period in Spanish history generally and particularly the year 1492 when Columbus discovered the Americas - celebrated each year on October 12 - and the final defeat of the Moors in Granada (The Alhambra) in the same year.
This was during the reign of Los Reyes Catolicos: Isabella and Ferdinand. This couple were also instrumental in launching the infamous Spanish Inquisition.
The moors who have had such an enormous influence in Spanish history, architecture and culture generally, first invaded mainland Spain via what is now Cadiz in 711 AD.
pci-international.com
The Berber tribes were, strictly speaking, not Arabs, and may be either fair or dark skinned. Recently, people were surprised to find that there are blond children in this historic area, in the context of 'sightings' of the little McCann child missing for about four months now from a holiday resort in south Portugal..
The islands were conquered by Spain (Conquistadores) during a period from 1402 to 1496 when Tenerife finally ceded in the second battle of Acentejo. This was a glorious period in Spanish history generally and particularly the year 1492 when Columbus discovered the Americas - celebrated each year on October 12 - and the final defeat of the Moors in Granada (The Alhambra) in the same year.
This was during the reign of Los Reyes Catolicos: Isabella and Ferdinand. This couple were also instrumental in launching the infamous Spanish Inquisition.
The moors who have had such an enormous influence in Spanish history, architecture and culture generally, first invaded mainland Spain via what is now Cadiz in 711 AD.
pci-international.com
Monday, October 15, 2007
Property in Spain/Tenerife
This weekend has been a 'puente' here in Tenerife. Puente means a bridge and arises when, for instance, both Friday and Monday are holidays. Therefore, the worker enjoys a bridge from Thursday afternoon to Tuesday morning.
Friday last was a national holiday in Spain: El Día de La Hispanidad celebrating the discovery of the Americas by Columbus on 12th October 1492.
Today Monday is a local or municipal holiday in Adeje with public offices closed including courts, notarios and indeed most professional offices.
Being in the international property business the PCI office tends to open on all such holidays; at least from 9AM until 1PM. Otherwise, clients, actual and potential, trying to telephone us from outside Spain could conclude that we were 'no longer in business' and that would never do! Furthermore, its important not to forget that the Spanish, both mainlanders and Canarians, are also buyers and sellers and find it very convenient to come to our office on such fiestas...provided that we are open!
The weather here is glorious...as usual. Since we haven't had rain for some time we are all hoping for a good, cleansing, downpour.
www.pci-international
Friday last was a national holiday in Spain: El Día de La Hispanidad celebrating the discovery of the Americas by Columbus on 12th October 1492.
Today Monday is a local or municipal holiday in Adeje with public offices closed including courts, notarios and indeed most professional offices.
Being in the international property business the PCI office tends to open on all such holidays; at least from 9AM until 1PM. Otherwise, clients, actual and potential, trying to telephone us from outside Spain could conclude that we were 'no longer in business' and that would never do! Furthermore, its important not to forget that the Spanish, both mainlanders and Canarians, are also buyers and sellers and find it very convenient to come to our office on such fiestas...provided that we are open!
The weather here is glorious...as usual. Since we haven't had rain for some time we are all hoping for a good, cleansing, downpour.
www.pci-international
Friday, October 12, 2007
Property in Spain. Tenerife
We are back on air again after a month on the sidelines with a virus caught from the ocean. Unfortunately, while attempting to explore a fish farm (Jaula Marina) located about 1km from land, a large wave washed through the installation some of the effluent from which, apparently, landed in my lungs.
The return journey to shore, swimming in increasingly rising seas, was a never to be forgotten experience. A weight loss of 15 kilos during the subsequent two months and a cocktail of drugs for the past month accounts for the long silence.
Anyway, good news at last in Spain for professional estate agents and, no less importantly, for property investors and property purchasers in Spain, whether local or foreign.
Real Decreto 1294/2007, dated 28th. September, has once again restored the APIs (Agentes de la Propiedad Inmobiliaria) to their 'primus inter pares' position in the estate agency sector; uniquely recognised by the Spanish Government and the Ministerio de Viviendas.
The clear message is that, if you want to Invest in Spanish Property Without Stress, look for the API sign. Look for the qualified, registered, internationally recognised and professionally bonded estate agents. It is not too difficult a search. There are 6000 of us throughout Spain, including one or two non nationals such as myself, but... it will be well worth the effort.
Ciao
pci-international.com
The return journey to shore, swimming in increasingly rising seas, was a never to be forgotten experience. A weight loss of 15 kilos during the subsequent two months and a cocktail of drugs for the past month accounts for the long silence.
Anyway, good news at last in Spain for professional estate agents and, no less importantly, for property investors and property purchasers in Spain, whether local or foreign.
Real Decreto 1294/2007, dated 28th. September, has once again restored the APIs (Agentes de la Propiedad Inmobiliaria) to their 'primus inter pares' position in the estate agency sector; uniquely recognised by the Spanish Government and the Ministerio de Viviendas.
The clear message is that, if you want to Invest in Spanish Property Without Stress, look for the API sign. Look for the qualified, registered, internationally recognised and professionally bonded estate agents. It is not too difficult a search. There are 6000 of us throughout Spain, including one or two non nationals such as myself, but... it will be well worth the effort.
Ciao
pci-international.com
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