Property in Spain. Tenerife

Tenerife has wrapped up phase one of it's development where, as is almost always the case in tourist destinations, quality has often been submerged by quantity; arising from overwhelming market demand. It is now focussing on quality and is spending enormously on infrastructural improvements and providing new, state of the art , world class, facilities.
Siam Park, due to open in spring 2008, will be Europe's largest acquatic theme park with the highest artificial waves in the world. Here you will have, apart from an overall Thai ambience, the largest number of Thai buildings in the world outside of Asia. The promotors are those who have developed Loro Park, in Puerto de la Cruz, to the world renowned facility that it has become.
Siam Park is located in Playa de Las Americas lying beside the Autopista that leads to the Airport and Santa Cruz. The central bus station, the comisaría de policía (police station) the Magma international congress centre, the ocean and, indeed, our own PCI office are just a few minutes walk away over the autopista. Magma is currently hosting the Brittish ABTA conference.
Tenerife is clearly, progressively, becoming more and more a quality world class, upmarket, tourist and investment destination. Now is a good time to invest in, and purchase property in, this magical island of Tenerife.

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Property in Spain/Tenerife

There is a general view by economists that there won't be any global meltdown in 2008. The problems in the US particularly, including the sub prime mortgages, high oil prices and a weakening dollar are unlikely to be potent enough to overwhelm the golobal economy. Outside of the financial sector, the US economy is generally healthy.

For 2008 then, generally, we can expect les volatility, less increases in interest rates with Asia providing the main economic impetus. China has now apparently overtaken Germany as the world's third largest economy after the US and Japan.

Therefore, we don't feel that there is any reason to panic, especially in the property sector in Tenerife and in the tourist areas of Spain . Now is the era of opportunity!!
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Property in Spain/Tenerife

It would appear that the resentment of Señor Chavez, towards Spain, dates back to 11th April 2002 when the then Prime Minister of Spain - José Maria Aznar - allegedly supported a coup in Venezuela. Presumably Spain's colonial history in Latin America is also a factor.

Señor Chavez has among his closest allies, Fidel Castro, Daniel Ortega of Nicaragua, Eva Morales of Bolivia, Rafael Correa of Ecuador and the Argentinian dynasty of Néstor and Cristina Kirchner.

Meanwhile King Juan Carlos appears to have the overwhelming support of the Spanish people.

Presumably this 'diplomatic incident' will peter out in due course.

Many 'household name' Spanish companies have huge investments in Venezuela including: Repsol, Telefónica, Santander, BBVA, Prisa, Mapfre, ACS, Acciona, Abertis and OHL.

Property in Spain. Tenerife

During a recent Cumbre Ibero-americana conference in Santiago de Chile, Señor Chavez repeatedly interrupted Presidente Zapatero of Spain calling his predecesor: Señor Aznar a fascist.

Eventually, King Juan Carlos of Spain turned to Chavez, apparently in anger and said 'Why don't you shut up!' ¿Porque no te callas ya?

This has left the entire hispanic world in turmoil but the feeling is that the Spanish people, for whom Juan Carlos is a great and respected favourite, will rally round their king.

Mr Aznar was elected in a democratic fashion whereas the feeling is that the the manner of Mr Chavez' accession to, and his hold on, power was and is somewhat less than democratic. More on this topic later.
GG

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Property in Spain. Tenerife

November 12, 07

• Inflation is creeping up in Spain and is likely to reach about 3.5% by year end.
• Unemployment is currently at about 1.8 million or 8% of the active population.
• The number of people curently employed in Spain is about 20.5 million; the highest on record.
• Projected GNP for 2008 has been adjusted to 3%.
• A new, more investment friendly and equitable tax regime is expected to be in place by January 2008.
• It is likely that there will be a general election in March 2008.
• Ryanair, the low cost flight company, has just begun flying to Reina Sofia airport, in Tenerife South, from several European destinations including Dublin and Shannon.
• Tenerife is becoming more and more attractive as a property investment/holiday destination.
  

GG

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Property in Spain. Tenerife

Undoubtedly Tenerife enjoys a year round magical climate, to some extent generated by Mount Teide at 3700M the highest in Spain. Those of us who reside here permanently sometimes wish for more rain since the trade winds tend to bring lots of sand and dust in their journey across the north western part of the African continent.

It seems almost a year now since we had any significant rain in South Tenerife and one senses that it is going to come very shortly. The cleansing impact of a few hours of heavy rain is very noticeable and indeed very welcome. The island looks even more beautiful after being washed by a 'downpour'.
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