These are the key economic projections for Spain 2008- GNP growth 2,6%
- Inflation 2,4%
- GNP (2008) 1,1 billion €
- Population 45,7 million
In the world context with such uncertainty in the financial sector and impending elections in various key countries including the US, Russia and, of course, Spain itself these stats reflect a year of consolidation and stable growth.
The Canary Islands, that have a combined populationof 2 million, are on the same trajectory. Tenerife, has that extra bit of magic created by Mount Teide (at 3700M) the highest in Spain.Once again, property investment in Tenerife and the Canary Islands generally will prove to be a wise decision. With it's magical all year round climate, it's special status - fiscal and otherwise - within the EC we at PCI consider it an unmatcheable destination for investment funds!Happy 2008 to everybody.www.pci-international.com
I
t's interesting to note that people surfing the web for property in tenerife tend to use similar search words or phrases including:- tenerife property,
- tenerife property for sale,
- buying property in Tenerife,
- investments in tenerife
- apartments in tenerife,
- selling properties in tenerife,
- estate agents in tenerife
- Irish estate agents in tenerife,
- qualified registered bonded estate agents in tenerife
- villas land business in tenerife
- bars estaurants hotels in tenerife
- golf in tenerife
- holiday retirement home in tenerife
- homes in the sun in tenerife
- all year sun in Tenerife
- ryanair ireland tenerife
- detached luxury villas in tenerife
- townhouses in tenerife
- medical care and welfare in tenerife
- tenerife part of Spain member of the EU
Whatever, please write to us at:
info@pci-international.com
telling us what you want against the criteria of What? Where? How much? and When?
We will treat you with competence, courtesy and integrity.
Happy 2008 for everybody.
www.pci-international.com
Once again it's Christmas time in the magical island of Tenerife. For the Spanish the 24th December is the real Christmas where the family try to get together and have a multi course BBQ. The sixth January is the date where gifts are exchanged. Statistics available this morning - boxing day - indicate that, for the first time, the Canary Islands have a combined population in excess of two million of which almost 12% are foreigners. By 2019 the combined population of the seven Canary islands is expected to reach 2,500,000. Tenerife is expected to have more than a million inhabitants then as against a figure of about 850000 now. This is a reflection also of the sustained demand for property in this special island of Tenerife.
Christmas and new year is also the time when tourists are captivated by the magic of Tenerife, not least it's all year round delightful climate, and decide to invest by purchasing a holiday home the sun.
The Federal Reserve has cut the federal funds rate to 4.25% with the implication that further cuts may come if the housing downturn and mortgage lending crisis deteriorates. Commercial banks have responded by reducing their prime lending rate to 7.25%; the lowest in two years. Wall Street remains volatile and indeed the Dow Jones industrial average lost 200 points on digesting the news.
The fed is walking a tight rope trying to maintain a delicate balace between modest growth and a rescession! During 2008, all going well, rising demand for houses driven by lower borrowing rates should push the US economy progressively forward. This has to be good news for everybody. The Bank of England appears to be moving along similar lines.
Incidentally, the US market has been showing increasing interest the the Canary Islands, particularly Tenerife, in recent months. The Canary Islands unique investment tax regime, their strategic location between Europe (ie the EU) and Africa and, of course, Tenerife's well proven attractivenes as a holiday/retirement home destination are all factors creating increasing interest in the US market.
What if there was a Channel Tunnel, linking Europe and Africa, in the Straits of Gibralter!
www.pci-international.com
T
he recent drop of 0.25% to 5.5% by the Bank of England, though it may appear insignificant, could help stabilize a volatile economy not least the property sector. Markets, whether in stocks and shares or any other commodity, are often more driven by perceptions rather than by reality. The fundamentals of most European economies, including that of Spain, are sound. The problem is that people can talk themselves into a crisis. It's a question of market psychology.Therfore one would hope that the B of E is sending a clear message that, in the foreseeable future there will be no further increases in rates. Indeed, we may expect a further small reduction in the Spring.It is not inconceivable that the ECB (European Central Bank) may take a similar view. Current base rate in the euro zone is 4%. We simply need to restore confidence. It has again been shown that property in the medium to longer run always beats the Stock Exchange hands down.www.pci-international.com
