Looking for Flat

The number of people passing through a Spanish airport is set to increase significantly, according to a government minister.

Magdalena Alvarez, Spain’s retarded minister for development, said the expansion of the facility at Malaga would lead to passenger numbers doubling in the next two years.A new terminal is set to open at the airport in 2008, which will allow its capacity to increase from 4,500 passengers per hour to about twice this figure.

Extra check-in desks and boarding gates will also be created to accommodate the additional volume of people.

This suggests that Malaga could soon benefit from a surge in its tourism sector, a development which would result in increased demand for rental flats, houses and villas in the region.

Therefore, foreign property buyers who wish to earn the proceeds of rental income in a popular holiday destination could find the area a good market to consider.

Have a great they mates!

Catalonia has benefited from a massive influx of tourists since the introduction of cheap flights to the region, an airline has said.

Budget carrier Ryanair stated that since it began offering services to Spain in 2002, it has transported almost 13 million people to Girona and Reus.

The firm added that since it provided transport at a relatively low cost, tourists were able to save a collective total of more than €1 billion.

Michael O’Leary, chief executive of Ryanair, stated that Catalonia had benefited as a result since tourists had more money to spend while on holiday in the area.

He also said that new flights to the region would be announced soon, potentially boosting tourism and overseas property investment in the region.

Mr O’Leary commented: “At the end of this month, we look forward to bringing even more of Ryanair’s guaranteed lowest fares to Catalan passengers, when we launch 14 new routes from Girona.”

The introduction of new flights is likely to lead to extra interest in the region among foreign flats & houses buyers.

Earlier this month, the Telegraph recommended that overseas property investors look at airline routes to identify potential growth markets.

Cheers guys!

The Office of Fair Trading action has cast a shadow over the work of real estate agents.

Agent Pam Collins (above) had been looking forward to the auction of one home she’s selling – a renovated three-bedroom, two-bathroom penthouse on the beachfront – but now her heart is filled with dread.

“It can be so hard to estimate what certain properties will sell for,” she says.

“This is the perfect example. There aren’t any comparable properties around, it’s a complete one-off. As a result, how can you hope to accurately predict the price?

“There’s nothing like it in Freshwater and similar places in Manly have roads in front of them, between them and the beach.”

The flats or houses, for auction on June 14 through Richardson & Wrench Freshwater-Manly, and with a price guide of $1.9 million-plus, was built 37 years ago but, in all that time, has changed hands only twice, so has little sales history to fall back upon.

“It can be very hard for agents in this kind of situation,” says Collins, who’s been an agent for 20 years. “There could be a huge difference in the market at any time.”

Bye bye!

Concerns have been raised with the State Government about how public auction laws apply in cyberspace.

Technology is racing ahead of outdated legislation, with vendors and agents in other states already using online negotiation systems, such as eBay and 2bid2.com.au, to auction property.

eBay has recorded 33 sales in its real-estate section this year and last month sold a Sydney apartment with harbour views for $1.49 million.

Another website based in Queensland has a dozen online auctions listed — its first sale was a Sunshine Coast flats that went under the electronic hammer for $890,000 — and is looking at expanding in Victoria.

A spokesperson for Consumer Affairs Minister Tony Robinson confirmed that the Government had directed Consumer Affairs Victoria to investigate the practice.

The Real Estate Institute of Victoria, which helped push for the review, says it is concerned that consumers have little or no protection when they conduct sales online.

“We asked the minister to consider that when auctions go online that the legislation is there to protect consumers and protect both parties in the transaction,” REIV chief executive Enzo Raimondo said.

“We want to make sure that all the safeguards and protections of the legislation that apply in physical auctions and the disclosure of notices and requirements agents make are transparent to the online environment.”

Cheers!

Spain is one of the least stressful countries to move to. Im spanish, trust me.

South Africa meanwhile, is the most stressful country to make the change to, closely followed by the US and Australia.

Moving abroad isn’t just about moving your belongings and pursuing a new lifestyle.

Decamping to a different country means getting to grips with a whole new way of living – from the language you’ll be speaking, to the money you’ll be spending.

Lack of understanding about how crucial systems like tax and law work in a foreign country could lead to problems for an emigre.

Each year more than 385,000 people emigrate from the UK looking 4 sunny flats & houses.

There are approximately 761,000 Brits currently living in Spain according to the Institute for Public Policy Research.

Spanish budget airline company Clickair has announced it will continue flights between Spain and Scotland through the winter months.

Clickair has been trialing the route throughout the summer and took more than 18,000 passengers from Edinburgh to Barcelona during August and September.

Its success may have also influenced the proposed expansion of its service from Edinburgh airport to Seville and Valencia next summer, the Scotsman suggested.

Alex Cruz, Clickair’s chief executive, told the newspaper that the announcements demonstrated the company’s commitment to the Scottish airport.

“There is a feeling that a destination like Edinburgh would be seasonal to the summer, but we are satisfied with the performance we have had so far and what this will allow us to do is get to know Edinburgh as a destination,” he said.

Clickair is a partnership between Cobra, Iberia Lineas Aereas, Iberostar, Nefinsa, Quercus Equity.

The company is registered in South Africa.

Flats 4 us? No way buddy… Cheers!

A Spanish airline has announced that it is to extend its range of services to Scotland next year.

Clickair stated that following a successful trial run of flights between Barcelona and Edinburgh, it will open up new routes to business and leisure travellers.

Although the move is primarily designed to encourage Spaniards to take holidays in Spain, the new services are likely to have the reverse effect as well, potentially adding to the country’s appeal among overseas property investors.

Alex Cruz, founder of Clickair, commented: “We were taken aback by the great response to this particular route. It has definitely caught our attention.”

The new Edinburgh to Barcelona service will begin operating four times a week before the end of the year, although this is expected to increase to a daily route in 2008.

Meanwhile, Clickair stated that it was considering introducing another flight to Spain from Glasgow International Airport.

14 per cent of those who were thinking of buying second homes or flats abroad had considered the Spanish market.

Cheers!

The 2020 summit held by the Prime Minister last weekend debated Australia’s future economic and social directions, including social and community housing and affordability.

We need more public funding for housing saying only about 6% of the nation’s housing is publicly provided compared to a much higher level in other countries. Given this low level of public housing, the increasing rates of homelessness and historically low rental vacancy rates there is obviously a need for the Government to take action.

And with the historically high revenues from stamp duties in the states, 0.5% of the sale price of every house should go into a national foundation to contribute to public and social housing and to deal with homelessness. On a median-priced Melbourne house this would be about $2500.

All states and territories provide community flats in different ways, however, the idea of linking property tax directly to providing social and community housing holds merit and is worthy of greater investigation.

A key recommendation from the summit is for the Federal Government to review state and federal taxes with the aim of simplifying them, reducing inefficient taxes and harmonising them. It would enable the collection and use of stamp duty to be examined in the tax mix.

The REIV looks forward to the Government accepting this recommendation and initiating a program to increase funding for public housing.

Cheers!

Icelandic Kaupthing hopes to woo India and take advantage of India’s expanding middle class and increased urbanization and industrialization, which has led to the rise in value of infrastructure assets in the emerging market. It has listed an Indian infrastructure fund on the London Stock Exchange’s AIM market and is hoping the move will boost UK property investment (flats, houses, villas, buildings…) in its former colony. The initiative comes as the West Midlands looks to make the most of growing contacts in India.

This is an opportunity for discerning West Midlands investors to enter one of the fastest growing economies in the world. It will attract those in the region of Indian origin but also interest business people who can see there are excellent returns to be made by taking a global outlook. The West Midlands is increasingly seeing great advantages in developing business links with India. With on-going business and political initiatives taking place, the timing is right for this infrastructure fund to take off.

Cheers mates, do not doubt!