European and Spanish Hotspots back in Vogue for British Real Estate Buyers Rather than far flung destinations

GoldAcre Estates the Canary Islands and Greece specialists stated that they have started to see a significant increase in enquiries from the internet, with the Greece business seeing an increase in the numbers particularly in Crete.

This seems to be to be a trend that seems to be supported by a recent report by Global Edge and Savills International via the Global Edge website GlobalEdge.co.uk

The Canary Islands has long since been a favorite with the British and European buyer famed for its mild winter climate and laid back lifestyle, recent economic factors and adjustments in prices in Fuerteventura and Gran Canaria have been a factor in their return to favour, but according to a survey of 1200 second home owners by Savills International British overseas home buyers are reverting back to more traditional second home destinations,.During the overseas property boom, the proportion of Brits buying outside of Western Europe grew significantly as buyers became motivated by the potential for capital gains. However, since the market turned in September 2008, buyers have returned to the traditional favourites of Spain, France, Portugal and Italy.“In 2010, the overseas second home market will be characterised by cash-rich, lifestyle buyers benefiting from lower prices in traditional, established holiday home hotspots.” Says Charles Weston-Baker, Head of Savills International.The survey data also confirms that 2009 was one of the worst years for the industry. 70% of respondents invested in overseas property between 2003 and 2008 but just 2% had in 2009.Rebecca Gill, research analyst at Savills International comments. “Whilst UK overseas home ownership has doubled since 2001 recent global recessionary trends have seen take-up levels dramatically slow. Factors such as fewer overseas holidays, reduced leisure spend capacity and financing availability, unfavourable exchange rates and declining house prices have impacted second home purchasing activity.”
20 % Of existing owners plan more purchases
The positive news is that a fifth of respondents said they are considering or planning additional holiday home purchases in the future. The top ten destinations being considered were France, Spain, Portugal, the US, Italy, Greece, Cyprus, Morocco, Brazil and Turkey.However, further property price falls, better mortgage availability and a strengthening of sterling against the Euro are all necessary conditions before we see the market return to anywhere near the transaction volumes of 2007.

New Year Opportunities in the Fuerteventura and Canary Island Property Market

New Year New Opportunities

Welcome to our first newsletter for 2010.

So what’s the story so far this year ?

Predictions on Sterling vs the Euro are targeted by reports from the major currency houses to reach 1.20 ( sometime this year, but no one has put a date yet on when this magical figure will be reached ), I have to say we have had a positive opening and we are currently seeing 1.15 so far this month.

What about Property ?

My view for the market is that we will see a steady increase in sales volumes through 2010, so good news for those that are selling their properties.

There is a lot of talk surrounding the Greek economy and the national debt in the international press right now, I have recently visited our offices in Greece and the local real estate market ( greek residential ) remains buoyant and it is anticipated that 2010 will see a significant rise in the International buyers particularly in areas such as Crete, Corfu and Zakynthos.

Easy jet have just announced a number of new routes to Greece in 2010 with prices starting from only 41 GBP further details can be found on www.easyjet.com

Fuerteventura seems to have resolved the issue of the lack of flights over the winter with Ryanair returning to its services for the Island and Easy Jet now running its regular services to Stanstead and other UK airports, in fact I traveled to Stanstead recently with Easyjet and you could not have found a better flight.

Good luck, happy hunting and wherever your search may you find your DREAM HOME we are there to assist you.

If you have a flight only GoldAcre Estates can assist you in finding your perfect accommodation to stay during your search for your Dream Home.

Please remember any comments that you may have on how we can improve our newsletter are always welcome write to me directly john@goldacre-estates.com

John Goldacre

Exceptional opportunity, 4 Bedroom Villa in Villaverde, Fuerteventura, Canaries

KEY POINTS
4 Bedrooms

2 Bathrooms

Heated 7x3 Swimming pool

Large plot size 1700 sqm

Triple Car Port

Large roof terrace

Garden sun terrace

Furnished with fitted Kitchen

This fabulous 4 bedroom villa is situated in the popular village of Villaverde just a short walk away from the village centre with its shops, quaint bars and fabulous resurants. The property sits in a large plot with a sheltered sun terrace, a covered 3 bay car park, planted flower beds, and a large heated swimming pool.

Inside the property all the bedrooms are a generous size with the master bedroom ensuite. The lounge is bright and and well furnished with Satellite TV. There is a galley style fitted kitchen with a separate large dining room. The large roof terrace offers all day sun and great views across the countryside.

Villaverde is a typical Canarian village located only 12 km outside of Corralejo, the location of Villaverde affords and elevated position with stunning views all around, Villaverde has plenty to offer, be it quality dining, with a variety of restaurants including the hidden gem known as Casa Marcos, a lovely tapas restaurant with a great atmosphere for locals and tourists alike. However, if you like a big plate of meat, then there is only one place for you, El Horno is one of the best restaurants on the island, offering a wide variety dishes to choose from.

The village is centrally located in the north of the island, 12km from Corralejo, 15km to the lagoons of El Cotillo or 20 minutes to the islands capital, Puerto del Rosario and the airport. This is the perfect opportunity to own a fabulous villa in the sun at a fraction of its true value and an opportunity not to be missed, so if you are looking for a permanent residence or a perfect rental home then this investment opportunity has to e for you. For more information email info@goldacre-estates.com

Telephone 0034 928 535 044

Skyscanner reveals top 50 destinations for UK travellers

Travel search site www.skyscanner.com reveals the top 50 most searched for destinations from UK airports for travel in 2010.

In the top spot is Malaga, moving up one place from last year. Tenerife and Alicante are second and third, meaning Spain takes the top three positions.

Orlando is a new entry into the top ten, rising 12 places since last year. Dalaman holds its position as the 5th most searched for destination for a second year in a row, whist New York also brakes into the top 10, up five positions from last year.

Palma comes in 8th, losing one spot since last year; Lanzarote is 9th, rising four places, and Geneva is 10th, dropping two places.

Overall Spain is yet again the most popular country for Brits to visit, with 11 Spanish destinations within the top 50, five of which are in the top 10.

“These early indications show that Spain is still by far the most popular destination for British travellers. Medium and long haul locations also seem to be on the rise compared to last year, suggesting that holiday budgets may be growing after a tough financial year” said Barry Smith, Skyscanner co-founder and business director.

Brand new entries to the top 10 are Johannesburg and Cape Town, which will be welcoming the World Cup in 2010. Melbourne, Kuala Lumpur and Hong Kong also entered the top 50.

Destinations dropping most in search volume are Edinburgh, Salzburg, Murcia and London. Fuerteventura also fell in the rankings but the fall was dispraportionate to the year before because of Ryanair suspending its service. Other airlines stepped in, such as Easyjet, Palm Air, Monarch and Jet2 to fill the gap but not in time to halt the slide in the ranking. In the coming year Fuerteventura will be helped with the new airport terminal opening and the capability to welcome more flights to the island. Irish property owners and visitors will be helped with Ryanair reinstating its flights to the island in March 2010.

1. Malaga, (Spain) [+1]
2. Tenerife (Spain) [+2]
3. Alicante (Spain)[0]
4. Orlando (USA) [+12]
5. Dalaman (Turkey) [0]
6. Faro (Portugal) [0]
7. New York (USA) [+5]
8. Palma (Spain) [-1]
9. Lanzarote (Spain) [+4]
10. Geneva (Switzerland) [-2]

11. Bangkok (Thailand) [+11]
12. Paphos (Cyprus) [-3]
13. Barcelona (Spain) [+1]
14. London (UK) [-13]
15. Bodrum (Turkey) [-4]
16. Paris (France) [+1]
17. Rome (Italy) [-2]
18. Gran Canaria (Spain) [+1]
19. Larnaca (Cyprus) [+1]
20. Sydney (Australia) [+7]

21. Johannesburg (South Africa) [New Entry]
22. Amsterdam (Netherlands) [-4]
23. Murcia (Spain) [-13]
24. Dublin (Ireland) [-1]
25. Ibiza (Spain) [+5]
26. Prague (Czech Republic) [-2]
27. Sharm El Sheikh (Egypt) [+11]
28. Auckland (New Zealand) [+11]
29. Venice (Italy) [+4]
30. Luqa (Malta) [+5]



31. Krakow (Poland) [-5]
32. Las Vegas (USA) [+13]
33. Cape Town (South Africa) [New Entry]
34. Melbourne (Australia) [New Entry]
35. Fuerteventura (Spain) [-10]
36. Berlin (Germany) [+1]
37. Kuala Lumpur (Malaysia) [New Entry]
38. Marrakech (Morocco) [-9]
39. Milan (Italy) [-7]
40. Dubai (UAE) [New Entry]

41. Madrid (Spain) [-5]
42. Hong Kong (Hong Kong) [New Entry]
43. Perth (Australia) [New Entry]
44. Edinburgh (UK) [-16]
45. Munich (Germany) [New Entry]
46. Salzburg (Austria) [-15]
47. Crete (Greece) [-6]
48. Brisbane (Australia) [New Entry]
49. Sofia (Bulgaria) [-2]
50. Nice (France) [-2]

About Skyscanner
Skyscanner is a leading travel search site based in Edinburgh, Scotland. Skyscanner provides instant online comparison on flight prices for over 670,000 routes on over 600 airlines, as well as car hire, hotel and holiday price comparison. With Skyscanner, users can browse without having to enter specific dates or even destinations, and Skyscanner is available in 20 different languages including French, German and Spanish.

4th Quarter Boost in Property Sales In The Canary Islands

With the majority of 2009 behind us it is becoming easier to piece together a picture of how the Canary Islands and in particular Gran Canaria’s and Fuerteventura’s property markets have been moving this year. Compared to mainland Spain the Real Estate market in the Canaries have enjoyed a certain amount of ‘cushioning’ due to its unique geographical position, endless summer climate and restricted supply of luxury second homes, however it has not escaped the general effects of the downturn over the last 18 months with property prices levelling earlier this year.

Higher sales figures this quarter are no doubt due to the specific price deals available on selected products as no doubt were Q1/2 sales when prices had ‘bottomed’ after a long slide in 2008. GoldAcre Estates reported that the return of buyer confidence in Fuerteventura was quite noticeable in Febuary / March showing particular interest in 1-2 bedroom luxury apartments which offer increasingly higher returns as prices had fallen against potential rental incomes.

Resorts in Corralejo like Oasis Papagayo and Oasis Tamarindo were the biggest movers as these had the added advantage of large swimming pools, lush tropical gardens, security and extra sports facilities which make them ideal for holiday rentals. Others like Oasis Royal, Dunas Residential and Atlantic Gardens were a little slower to react to the market changes but offered high value due their central positions closer to the main tourist centre and beaches. In fact GoldAcre Estates said it was not uncommon to see multiple purchases for these style of apartments.

To begin with, Sterling rates dampened the return of the UK investor early in the year and many British buyers lost out to new European markets including the Netherlands and Italy in particular which have not been affected by the need to exchange their monies as they are already euro based.
New flights from these areas including Poland also helped transfer these ‘holiday’ markets into the second home ownership market with buying interest mainly in the North Island of Fuerteventura.

The luxury villa section also saw growth as private owners and specialist developers offered limited price deals. The villages of Lajares, Villaverde, and to a lesser extent La Oliva and El Roque caught the attention of those who may have never considered these areas due to budget constraints. 3-4 bedroom detached villas with large private pools and 1000m2+ plots in a quite country setting yet 10 mins from the beaches were on occasion lower than the magical €300k mark.

Surprisingly despite recent macro economic conditions the trends still follow traditional historic patterns with the main sales in the periods either side of summer holidays. During August as many public services close for holidays including some Notaries and lawyers offices there are fewer exchanges of contracts plus the main holiday markets are busy enjoying the beaches rather than scouting for their next property purchase. August 2009 however saw a high interest level with many visitors taking a serious look at apartments and villa offerings. This has also been extended into the winter season .

In fact the increase of flights to Fuerteventura and Gran Canaria will be a big factor for Q4 as already Christmas flights are becoming booked out. For those existing property owners and clients of Goldacre Estates, Christmas in their second homes in the Canaries never looked brighter. www.goldacre-estates.com

New Yacht Marina Is To Be Constructed In Corralejo, Fuerteventura, Canary Islands

A new yacht marina is to be constructed in Corralejo, Fuerteventura which will provide 650 private moorings in an adventurous expansion plan of the present harbour. The project, which will be funded by the Canarian Government, is in the early stages of planning but it is hoped that it will go out to tender early next year.

Corralejo harbour is one of the busiest in the Canaries with over a million passengers a year using the ferry link to Lanzarote and the project will ensure that increasing passenger demand can be met.

The scheme will create two new commercial jetties and a multi purpose water sports building as well as the marina. Once the construction work begins it is expected to take around two years to complete.

This is good news for home owners and investors as marinas are sort after locations for property purchasers and the construction of the new marina will mean that homes in the immediate area will be at a premium.

Where Is Your Pound going in Spanish Real Estate today

Keith Spitalnick Business Development Manager of Currencies Direct predicts an upward trend for the Value of sterling against the euro by the year end. This is good news for Spanish Real Estate and people looking to buy property in the Canary Islands and Spain, prices could not be better as many new properties today are being offered at discounts and of course you have very good prices on some resale properties from people that are having to sell their Spanish property.

Read Keith full story and prediction of how he sees sterling moving, Keith commented, I keep getting asked is where I see GBP/EUR headed by then. I personally feel that GBP/EUR is in an upward trend however the language from the Bank of England is holding it back, trying to hold the pound low. After Christmas sterling could start to rally. 1.1500 is my short term target.


It’s been another busy week for GBP/EUR as the fallout from the latest Quarterly Inflation report was digested in the papers; the Banks assessment for growth is now twice the latest consensus of their panel of independent forecasters and their predictions for inflation and interest rate levels over the next couple of years have been revised sharply higher. This helped to boost the pound ahead of the Bank of England minutes last Wednesday. The pound also rallied as we saw the UK inflation numbers come in higher than expected. This gave Sterling a strong boost all round, on expectations that, with inflation “surging”, rates might have to be raised sooner rather than later. I think that this is an unlikely scenario and that Base Rates will remain at these low levels until the 3rd quarter next year, possibly longer.


The Euro was not so fortunate with comments from ECB president Trichet rattling the euro. He commented that the fiscal situation in some European countries is so bad that there is a danger that markets will lose faith in them. At last a bit of plain talking from the ECB! In addition we saw the Euro current account showing a deficit of €5.4 billion - this was concerning as it identified a surge in imports and slumping exports; this could bring the strength of the euro back to the fore as a red flag for the ECB. If this issue is raised it could start to turn the tide on recent euro strength…

Unfortunately the pound could not hold onto its gains after peaking at 1.13. This was due to the split decision from the Bank of England who were split three ways on the November Quantitative Easing vote. 7 backed the £25 billion increase, David Miles wanted a £40 billion increase and Spencer Dale wanted no change. This undermined sterling which immediately dropped over half a cent against the USD and the Euro. The split has highlighted the indecision on future policy and this is hardly surprising given the implications on monetary policy decisions within the current economic climate.

So overall its the same old problems hurting the pound in the form of QE and concern over public debt. However it is widely expected that UK GDP will be revised higher next week for the third quarter and that fourth quarter data will show an exit from the recession...therefore the pound should start to perform better going forward. Last week we also witnessed one or two red flags from the Euro zone and the recent support of the euro against the US dollar could wane if more concerns arise...this would certainly play into GBP/EUR gains.



www.currenciesdirect.com

Spanish Property a Better Bet than Turkey

Turkish English-language newspaper Hurryet Daily News is reporting that the government has banned foreigners from purchasing property in a number of locations in Southeast Turkey.

According to the report, foreigners have been banned from purchasing real estate in Mardin, Kilis and Hatay as title deeds owned by overseas buyers has exceeded 10% of the total available in these destinations.

According to data from the Turkish Land Registry Directorate, four German foreigners have bought 25,153 square meters of property in Kilis, while 99 foreigners bought 521 properties for a total of 2,383,192 square meters in Mardin.

Speaking to the Planning and Budgets Commission of Parliament, Mustafa Demir, Minister of Public Works and Settlement said: “Since the acquisitions in Mardin, Kilis and Hatay have exceeded 10 percent of the improved land, the purchasing of property by foreigners is banned by the Cabinet.”

Turkey has become an increasintly popular overseas property destinations over the past 18 months as the strength of the Euro has resulted in many British buyers, who might previously have bought in places like Spain, turning their attention to the country.

At least in Spain buying Spanish property and Real Estate there are no such concerns regarding purchasing by overseas buyers.

Full story Hurryet Daily News. Foreigners banned from buying real estate
The government has banned foreigners from buying more real estate in Mardin and Kilis following similar restrictions in Hatay, citing the number of already-purchased land titles as exceeding the legal limit.

According to data from the Turkish Land Registry Directorate, four German foreigners have bought 25,153 square meters of property in Kilis, while 99 foreigners bought 521 properties for a total of 2,383,192 square meters in Mardin.

Mustafa Demir, Minister of Public Works and Settlement spoke to the Planning and Budgets Commission of Parliament and released information on his ministry’s figures.

On the matter of land sales to foreigners, Demir said that as of today, 97,192 people own 87,069 properties.

“Since the acquisitions in Mardin, Kilis and Hatay have exceeded 10 percent of the improved land, the purchasing of property by foreigners is banned by the Cabinet.”

www.goldacre-estates.com

GoldAcre Estates launches Fractional Ownership properties in Fuerteventura, Canary Islands, Spain

GoldAcre Estates Fuerteventura’s leading Estate Agent has just launched a fractional ownership program in conjunction with the Fractional Property Group which will eventually rolled out throughout the Canary Islands and Spain.

John GoldAcre stated that the Spanish Real Estate market was going through a significant change, not just because of the current economic downturn but in general a lot of the ‘quick buck Estates Agents’ have now gone and we are starting to a core of more professionally run Estate Agencies throughout Spain, that are more focused on clients needs and the key element of client satisfaction.

New products are being investigated by Real Estate Agents such as the growing market of Fractional Ownership which is being driven by consumer demand for high quality properties without the need to obtain mortgages, client recent experience with banks have made them look differently at their overseas purchases and the amount of money they are prepared to expose themselves to, Fractional Ownership provides the client with the opportunity of owning freehold property in the Canary Islands without the need to commit to the full capital value of the property.

John commented that it was very important that the integrity and value of any program is maintained as otherwise Fractional Ownership will just end up falling into the same category as timeshare, for example some Real Estate Agents are trying to introduce 10 or 12 shares on property just to try to make it look cheap.

The maximum John GoldAcre said that GoldAcre Estates will arrange any Fractional Ownership program for is 4 or 6 shares, which would give each individual owner either 2 or 3 months usage of their property spread throughout the year.

All the properties with be furnished to a luxurious quality with everything taken care of the for the owners, the owners useage program will be based on a 4 year rolling calendar which will give the owners useage every season and every month of the year over the 4 year term, each owner can sell their shares independently of the other owners at any time.

GoldAcre Estates Fractional Ownership program commences with two different styles of property, one being frontline Apartments to the sea the other being Villas.

The apartments are Luxury 3 bedroom 2 bathroom sea facing, close to a marina and Blue flag beach. Each apartment has 42 m2 terraces and has it own parking underground, the facilities include a 27 m long pool, Gym and lifts to all floors, 1/6th Shares are only 45,000 euros each, John made the point that at this price this was less than the cost of a cheap one bedroom apartment.

The Villa is situated close to one of the main towns in the North of Fuerteventura and features Two Bedrooms parking and Gardens and 1/6th shares are only 32,000 euros each.

GoldAcre stated the advantage to a buyer of Fractional Ownership is that each owner does not have to worry about the day to day running of their property all bills are paid all the cleaning and maintenance is taken care of and the property is prepared and ready for each owners visit, unlike a wholly owner property where each owner is required to pay all their own bills organize maintenance etc ..

GoldAcre Estates have been in Fuerteventura Real Estate for the last 8 years and some 12 years in the Canary Islands in total, they have offices in Gran Canaria, Fuerteventura and Greece.

More details can be obtained by contacting GoldAcre Estates on info@goldacre-estates.com or visiting their website www.goldacre-estates.com

Villa For sale Corralejo, Fuerteventura, Canary Islands Property.

A large villa in Fuerteventura and a great opportunity to purchase property in the Canary Islands

Close to the centre of Corralejo

This property has the advantage of being a corner plot and enjoying a larger garden which cones with a large private swimming pool. The property is furnished to a high standard and has a roof terrace with views over the town to the sea.

International Business Opportunity with leading real estate company in the Canary Islands, Gran Canaria.

Are you looking for a business opportunity in the Canary Islands?

Are you looking for a lifestyle change with High Rewards?

Do you want to run your own business and be supported by one of the most experienced Real Estate Companies in the Canary Islands?

GoldAcre Estates is looking for partners to fuel our expansion program in the Canary Islands.

Our Partnership program is looking to offer exciting opportunities to selected individuals that want to run their own business in the Canary Islands with ongoing existing business available for franchise.

Low Initial start up costs,Full Training and Ongoing Support provided.

Take the initiative today and invest in your career and lifestyle for a future in the sun!

For further details e-mail nicolast@goldacre-estates.com

Canary Island And Greece Property Review

John Gold reviews the current economic climate for the Canary Islands and Greek property market.

How wrong can you be?

Talk about the kiss of death in our last newsletter, I talked about the positive news regarding sterling and since then it has all gone down hill !!
The economic data from the UK has sent sterling vs some of the other major currencies through the floor ( well not quite, bit of an exaggeration ) but it went as low as 1.08 euros to the pound ( see I said in my last newsletter you would not find a better time to buy ) anyway after the downward trend of the last couple of weeks, hey guess what we are now seeing it tracking upwards again to the heady heights of 1.0999 today ( 30 September ) fingers crossed it remains going in the right direction again if you read some of the daily reports from the major currency houses they have talked about the bank of England creating the reduced strength of the pound.
Anyway the good news for the buyers out there is property prices have not gone up!! YET! but on a more serious note opportunities are still out there and at some prices of the properties available, it really does not matter what the exchange rate is or does.
You will note a great selection of properties in this newsletter outlining some opportunities across the board from Villas to Apartments,
Keep an eye on your e-mails for the new electronic versions of BuyIN Fuerteventura and BuyIN Greece magazines, which are nearing completion and will be distributed shortly.
I mentioned a couple of newsletter ago the words Fractional Ownership which is starting to gain momentum in the real estate industry in the newest edition of BuyIN Fuerteventura there will be a focus on this subject to explain more, but an example of this is four owners can share ownership in a 3 Bedroom 2 Bathroom Villa with pool and Jacuzzi, in 1,000m2 plot for three months spread throughout the year from only 79,750 euros per owner and it is all FREEHOLD.
The sun remains, beach beckons and properties in the world of GoldAcre Estates remain available and the whole TEAM would love to show you them.
Good luck, happy hunting and wherever your search may you find your DREAM HOME we are there to assist you.

Cheaper Airfares with - Aer Lingus to Canary Islands, From Dublin To Fuerteventura And Belfast to Tenerife….

New flights by Aer Lingus from Dublin to Fuerteventura and Belfast to Tenerife will begin in October, brings big relief to overseas property buyers, despite plans to cut planes from some of its other routes.
Aer Lingus advanced bookings for flights to the Canary Islands has been good and it is anticipated by the airline operator that their main passengers will be people looking to purchase Real Estate or to rent holiday property independently from tour operators in the Canaries.

There is a trend now in Fuerteventura for tourists to be moving away from the all inclusive packages to finding their own apartments or villas to rent, it has been reported by Room To Breathe a local management and letting agent in Fuerteventura that they are finding increasing numbers of enquiries for rural holidays in Fuerteventura.

International Business Opportunities in the Canaries, Gran Canaria, Fuerteventura.

International Business Opportunity with leading real estate company in the Canary Islands, Gran Canaria, Fuerteventura

Are you looking for a business opportunity in the Canary Islands?
Are you looking for a lifestyle change with High Rewards?
Do you want to run your own business and be supported by one of the most experienced Real Estate Companies in the Canary Islands?

GoldAcre Estates is looking for partners to fuel our expansion program in the Canary Islands

Our Partnership program is looking to offer exciting opportunities to selected individuals that want to run their own business in the Canary Islands with ongoing existing business available for franchise.

Low Initial start up costs,

Full Training and Ongoing Support provided.

Take the initiative today and invest in your career and lifestyle for a future in the sun!

For further details e-mail nicolast@goldacre-estates.com

New flights to Fuerteventura and Gran Canaria have been added by Monach

New flights to Fuerteventura and Gran Canaria have been added to Monarch’s scheduled flying programme for next summer.

Two flights a week will operate from Manchester to Fuerteventura plus weekly services from Birmingham, Gatwick and Luton.
Gran Canaria will be served by two new flights a week from Birmingham and Manchester and a weekly connection from Gatwick.
The airline is also stepping up frequency to Tenerife, Lanzarote, Larnaca, Gibraltar and Ibiza.
The introduction of new services to Fuerteventura and Gran Canaria brings the total number of routes operated by Monarch for summer 2010 to 49.
Liz Savage, managing director of Monarch flights and holidays, said: “We are seeing huge demand for our mid-haul destinations this year and have responded to this with the introduction of Fuerteventura and Gran Canaria in addition to increasing frequencies to Tenerife and Lanzarote meaning even more people can take advantage of our low fares.”
Highlights of the summer 2010 schedule currently on sale include:
*New route Fuerteventura - two flights a week from Manchester and one flight a week from Birmingham, Gatwick and Luton
*New route Gran Canaria - two flights a week from Birmingham and Manchester and one flight per week from Gatwick
*Increased frequency: Birmingham-Tenerife - six flights a week
*Increased frequency: Gatwick-Tenerife - seven flights a week
*Increased frequency: Luton-Tenerife - seven flights a week
*Increased frequency: Birmingham-Larnaca - three flights a week
*Increased frequency: Manchester-Larnaca - up to seven flights a week
*Increased frequency: Gatwick-Lanzarote - up to six flights a week
*Increased frequency: Manchester-Lanzarote - up to seven flights a week
*Increased frequency: Luton-Gibraltar - daily flight
*Increased frequency: Manchester-Ibiza - six flights a week

Source: Monarch Airways and Phil Davies, Travel Mole.

Spain Has Announced Airport Taxes Will Be Frozen From 2010

Airport taxes will be frozen from 2010 the Spanish Government has announced. Spain's minister for public works José Blanco has said the move was devised to help stimulate the economy.

In a further initiative, the minister said discounts, which currently apply to travellers to the Canary Islands, the Balearic Islands and Melilla, will be increased to 30 per cent. Francisco Alaya opposition member of the People's Party insisted that the government's initiative was too late and should have been introduced this year. Mr Alaya also noted it is discriminatory to apply the taxes just to selected islands.

The Canary Islands are a favorite destination for expatriates and holidaymakers alike and this will greatly help the tourist industry. The news comes after several airlines annouced increased flights to the Canaries.

Evidence Of Green Shoots In The UK Housing Market

Further evidence of green shoots in the UK housing market at the start of the month
stimulated GBP to notch new highs for 2009 against the US dollar at 1.6744. According to
the Nationwide, house prices jumped by 0.9% in June, the second consecutive monthly rise,
bringing the annual house price falls below 10%.

However the final figure for Q1 GDP (Gross Domestic Product), revised down to a 2.4%
drop in growth, the steepest quarterly fall in 50 years, reminded the market how grim things
were at the start of the year. So with the last three quarters (Q3 08 -0.6%, Q4 08 -1.6%, Q1
09 -2.4%) showing this recession deepening, there is a lot at stake that the talk of green
shoots will buck the trend.

There was further evidence of stabilisation in the UK economy with the latest readings of the
Purchasing Manager’s Index for manufacturing and services. The positive momentum in the
manufacturing sector was confirmed with a reading of 47.0 in June from 45.4 in May and the
all important services sector held expansionary territory with a reading of 51.6.

In the US, seen as the leading indicator in this credit crisis, the data took a turn for the
worse. Despite marginal improvement in the housing sector and the manufacturing sector,
consumer confidence surprised the market by dipping back down lower from 54.9 in May to
49.3 in June and the all important non farm payrolls scuppered hopes of a solid recovery.
The non farm payrolls proved to be 100k jobs worse than expectations with 473k jobs lost in
June.

The equity markets around the world bucked their recent weakening trend to rally across the
board backed up by an impressive Chinese Q2 GDP number of 7.9% allowing the FTSE to
end the week with its strongest weekly gain for this year of 6.3%. Other significant events
included further signs of stabilisation in the housing market with the RICS housing market
survey jumping from -43.8 to, its highest reading since September -18.1 in June2007.
As we celebrated the 40th anniversary of the lunar landing, the equity markets continued
their propulsion higher as confidence grew amid the US reporting season, with 75% of
companies that have reported thus far, exceeding market expectations. The FTSE 100 has
now pushed higher on 10 consecutive trading sessions, a feat only managed twice in its 25
year history and never at this rapid 10% rate of ascendency.

Growth in the UK in Q2 fell by 0.8%, more than twice as bad as market expectations, taking
the year on year drop to 5.7% and markedly outpacing the recession in the early 1990’s,
although still behind the 6.4% drop in growth in the early 1980’s. There were however some
fresh green shoots from of the housing market, with a jump in mortgage approvals and also
on the High Street as retail sales surged by 1.2% in June, although the weather and early
discounting were cited as the transitory positive influences.

The rampaging global equity markets were again the driving force for the Dollar’s decline
last week with just a little help from the UK’s favourite dinner party topic, house prices, to
bolster Sterling. With up to 75% of major US corporate results out-stripping analyst’s
forecasts and household UK names such as BT and Cadbury doing likewise, the growing
investor optimism had translated directly into higher share and commodity prices and a
familiar sell off in the Dollar.

Source HIFX

Sterlings climb will help overseas property investors

It was a rewarding week for sterling, climbing from below €1.16 last Monday to open at €1.1750 in London this morning. There was moment's panic at the very beginning of the week when the pound dipped briefly to €1.15 but thereafter the only way was up. For overseas property purchasers and investors the exchange rate is an important consideration in Spanish Real Estate.

Nationwide reports a third successive monthly rise for house prices. Sterling close to eight-month high against the euro.

After the sell-off at the end of the previous week the market's first instinct was to buy the pound, although nobody was quite sure why. Hometrack's housing survey was vaguely helpful, inasmuch as it showed prices not falling, but investors found it difficult to get excited because prices were not going up either. It was a similar story with the CBI's retail sales report for July: At -15 the figure was better than the previous month's -17 but did nothing to motivate buyers. Money supply data on Wednesday were another net "don't care" for the market. The number of mortgage approvals went up, true enough, but as Reuters put it; "British financial institutions lent less money to households last month than at any time in the past 15 years." Gfk's index of UK consumer confidence survey produced another utterly useless figure when it remained unchanged at -25.

Investors at last woke up on Thursday morning when Nationwide's house price index came out. For a third successive month the building society saw a rise in the average price, this time by an entirely respectable +1.3%. The annual decline eased from -9.3% to -6.2%. The firm's chief economist offered an impressive hostage to fortune, saying "there is now a reasonable chance that prices could end the year slightly higher than where they started.

"Sterling's performance over the week obviously had something to do with the UK economic data - few thought they were - but mainly it was the by-product of another quiet week during which the mood of investors became more upbeat. As one of the allegedly riskier currencies it is more likely to find buyers when the market is less nervous.

The euro's profile last week was so low as to be almost subterranean. An almost complete absence of pan-euro-zone economic data meant just three useful statistics. Consumer confidence improved slightly from -25 to -23. Inflation - make that deflation - went down from -0.1% to -0.6% in the year to July and unemployment ticked up from 9.3% to 9.4%. Individual national figures did not add much to the proceedings. German consumer confidence was higher and German unemployment was steady at 8.3%. As with sterling, the euro's main claim to fame was to provide investors with an alternative to the US dollar, which was under pressure throughout the week.

Sterling starts August looking more potent than it did in July. It appears to have punched out of the €1.15-€1.17 range that held it for the previous three weeks, helped by its upward break against the US dollar. The high in June at €1.19 was sterling's best level since the beginning of December and that must be its next target. The pound has the potential to test €1.21 but, up here close to an eight-month high, buyers of the euro should take the opportunity to pick up a few more.

For more information and expert guidance on Canary Island property call 0034 928 535 044
Or contact info@goldacre-estates.com

Source Money Corp

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John Goldacres Introduction for the Latest Newsletter

This is John Goldacres introduction for the latest newsletter

Well summer is on us in the Canary Islands and its hot good job we have some of the best beaches in Fuerteventura to Relax and Unwind on. Been a recent flurry of activity on Vista Mar with our first clients taking title, this really has turned out to be a fabulous development pool is now completed, gym fitted out, a really 5 star resort.

I travel to Greece on the 5^th to visit our office there but first a two week break to be enjoyed first.

The property market still remains sticky .. Its like walking in mud .. still hard work with the euro to sterling exchange rate ranging anything from 1.15 – 1.18 to the GBP but 1.15 / 1.16 is where we have seen the most of the activity since our last newsletter.

Mortgages are still being granted although the banks are more stringent in their underwriting and the valuation companies under instruction from the Bank of Spain to be cautious in their valuations.

But it is not all doom and gloom as the press would still have us believe, inquires are on the increase both in the Canary Islands and Greece, there are still some great priced properties available, see our recent selection of one bedrooms below and there is a more positive feel generally amongst people.

Since our last news Fuerteventura has seen the introduction of regular services from Easy Jet and Monarch ( link these two to the blog ) so flights are becoming once again an issue of non importance I researched flights with Easy Jet on the 5^th December and returning on the 19^th from the UK and the total was £81 return, which was excellent. So those that thought access was becoming more difficult it shows in todays world things can change in an instant and with over 45,000,000 million euros being spent on the airport in Fuerteventura this was a definite change that was to happen. Please also remember if you have flight only GoldAcre Estates can assist you in finding your perfect accommodation to stay during your search for your Dream Home.

So safe low cost flights, Happy hunting and of course at GoldAcre Estates we are always on hand to help and advise with any questions you may have.

If you would like to receive our newsletter please contact us at info@goldacre-estates.com

30th July 2009

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