We read today that the Spanish government have placed up to 500000 home owners under threat of demolition for being constructed within 100M of the shoreline - regardless of whether they were constructed before the enacting of Ley de Costas 1988. Retrospective laws are always disturbing.
It appears that more than 500000 owners who reside along the coasts of Spain will be affected. About 20% of these are foreigners including many thousands of Brittish.
It highlights once again the absolute necessity of having proper professional advice before purchasing. Caveat emptor. Let the buyer beware. Astonishingly, most people retain an estate agent when selling but rarely when purchasing; when professional advice is most needed. We are not sure to what extent property in Tenerife may be affected. Certainly, before buying property in Tenerife or elewhere, please consult a professionally qualified, bonded and registered estate agent.
info@pci-international.com
Friday, March 21, 2008
Thursday, March 20, 2008
Easter in Tenerife
It is now Thursday March 2oth and the general business environment is quiet. Many businesses are either closed or will close before two PM to celebrate Easter. Weather is beautiful here in Tenerife and the beaches are thronged. Hotels are almost at full capacity something that augers well for 2008 as a whole.
It appears that the exotic places are drifting a little bit out of fashion and that the rapidly improving and upmarket going Tenerife is on its way for phase two of its development and quality slow paced growth; not just in number of returing tourists but in a multiplicity of new facilities.
info@pci-international.com
It appears that the exotic places are drifting a little bit out of fashion and that the rapidly improving and upmarket going Tenerife is on its way for phase two of its development and quality slow paced growth; not just in number of returing tourists but in a multiplicity of new facilities.
info@pci-international.com
Tuesday, March 18, 2008
More Stock Exchange Turmoil
Once again there is panic in the stock exchanges almost like that of 1929. Another major financial institution - Bearn Stears - appears to be in trouble and once again J P Morgan apears to be coming to the rescue.
This crisis appears to revert back to the Sub Prime lending scandal that manifested itself in July last year in the US. A scenario where banks lent money to parties that they knew didn't have the repayment capacity and then compounded the issue by packaging up bundles of these loans and mortgages and selling them on as investments to other financial institutions. Thus this virus spread throughout the international fianancial system.
All these highly qualified, highly paid, financial movers and shakers appear to lack one basic ingredient: common sense. They also seem to lack basic accountability for their actions; sometimes I think reckless if not indeed criminal..
Then the US economy has other burdens not least the 12 billion dollars monthly that the ill conceived war in Irak is costing! An unwinnable war that, added to their committment in Afganistan, is worrying. Perhaps it's time to consider the legalisation of drugs but; more of that anon.
It highlights once again the volatility and indeed intangibility of the stock exchanges. It highlights once again that with property purchased at a reasonable price, in the prevailing market conditions, one can rest easier at night. Now may be the time to invest in bricks and morter.
info@pci-international.com
This crisis appears to revert back to the Sub Prime lending scandal that manifested itself in July last year in the US. A scenario where banks lent money to parties that they knew didn't have the repayment capacity and then compounded the issue by packaging up bundles of these loans and mortgages and selling them on as investments to other financial institutions. Thus this virus spread throughout the international fianancial system.
All these highly qualified, highly paid, financial movers and shakers appear to lack one basic ingredient: common sense. They also seem to lack basic accountability for their actions; sometimes I think reckless if not indeed criminal..
Then the US economy has other burdens not least the 12 billion dollars monthly that the ill conceived war in Irak is costing! An unwinnable war that, added to their committment in Afganistan, is worrying. Perhaps it's time to consider the legalisation of drugs but; more of that anon.
It highlights once again the volatility and indeed intangibility of the stock exchanges. It highlights once again that with property purchased at a reasonable price, in the prevailing market conditions, one can rest easier at night. Now may be the time to invest in bricks and morter.
info@pci-international.com
Thursday, March 13, 2008
Siam Park Update
Finally we have a definite opening date for this unique project. It is May 1, 2008.
Siam park is going to be the biggest aquatic theme park in Europe and, at a cost of 50 million euros, why shouldn't it be!
Apart from scary aquatic attractions including a huge wave area there will be five restaurants, aligators, sea lions, huge waterfalls, a meandering river and a Thai theme village.
This is just another stage in the continuous upgrading of the magical island of Tenerife.
Yet a further incentive to invest in Tenerife to live at least part-time in Tenerife!
www.pci-international.com
Siam park is going to be the biggest aquatic theme park in Europe and, at a cost of 50 million euros, why shouldn't it be!
Apart from scary aquatic attractions including a huge wave area there will be five restaurants, aligators, sea lions, huge waterfalls, a meandering river and a Thai theme village.
This is just another stage in the continuous upgrading of the magical island of Tenerife.
Yet a further incentive to invest in Tenerife to live at least part-time in Tenerife!
www.pci-international.com
Wednesday, March 12, 2008
Random comment...
In Spain the general election is now over and the PSOEs are in negotiation with various small parties to meet their shortfall of seven seats that would provide an overall majority. They have 169 and they need 176 since the total number of seats is 350. It is unlikely that this will be a problem for the PSOEs who can then settle down to their second four years in government. Mariano Rajoy is quoted this morning as saying that he has no intention of stepping down as leader of the main oposition party: the PPs. Hopefully, Spain and its islands will now resume a steady rate of economic growth.
Meanwhile, the war in Irak is costing the US 12 billion dollars a month an outlay that is not helping the relative strength of the dollar in the international exchanges. Since oil is priced in terms of the dollar this also has international implications.
Generally, however, the fundamentals of most of the European economies are sound. Therfore, unless we talk ourselves into a crisis, there is no valid reason why there shouldn't be an uplift in demand in the near future. Certainly, there has never been a better time to invest in property in the magical island of Tenerife.
http://www.pci-international.com/
Meanwhile, the war in Irak is costing the US 12 billion dollars a month an outlay that is not helping the relative strength of the dollar in the international exchanges. Since oil is priced in terms of the dollar this also has international implications.
Generally, however, the fundamentals of most of the European economies are sound. Therfore, unless we talk ourselves into a crisis, there is no valid reason why there shouldn't be an uplift in demand in the near future. Certainly, there has never been a better time to invest in property in the magical island of Tenerife.
http://www.pci-international.com/
Thursday, March 6, 2008
Tenerife : general news snippets
Tenerife over the past few days has been with a heat haze known locally as La Calima. Classical symptoms include a slightly overcast sky, intense bursts of heat and the impression of a light dust haze circulating above. This comes perhaps six to ten times in a typical year.
Early March is one of the lull periods in a tourist sense before the peak of Easter so eveything is relatively quiet. All quiet in the western front!
A local beauty has been elected Miss Spain 2008.
Spain is now gearing up for general election day that is next Sunday the 9th of March 2008.
New fiscal regulations, effective from this year, considerably lighten the inheritance tax and gift tax burdens.
http://www.pci-international.com/
Early March is one of the lull periods in a tourist sense before the peak of Easter so eveything is relatively quiet. All quiet in the western front!
A local beauty has been elected Miss Spain 2008.
Spain is now gearing up for general election day that is next Sunday the 9th of March 2008.
New fiscal regulations, effective from this year, considerably lighten the inheritance tax and gift tax burdens.
http://www.pci-international.com/
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