Showing posts with label Spain. Show all posts
Showing posts with label Spain. Show all posts

Tuesday, 29 November 2011

Property Point Marbella - Picasso and Modern British Art

A five month exhibition opens at the Tate Britain in February.

‘Picasso and Modern British Art’, a five-month exhibition which is on show at Tate Britain from February 12 next year, will explore the Málaga artist’s lifelong connections with Britain and his enormous impact on British modernism, in particular his influence on seven British artists, including Francis Bacon and David Hockney.

Tate Britain said the exhibition ‘will explore Picasso’s rise in Britain as a figure of both controversy and celebrity, tracing the ways in which his work was exhibited and collected here during his lifetime, and demonstrating that the British engagement with Picasso and his art was much deeper and more varied than generally has been appreciated’.

This major show will include over 150 works from private and public collections across the world, including over 60 paintings by Picasso. They will be exhibited chronologically, covering a period of 70 years, with pieces by Picasso alternating with pieces by Duncan Grant, Wyndham Lewis, Ben Nicholson, Henry Moore, Francis Bacon, Graham Sutherland and David Hockney, demonstrating a direct response to his work.

For example, Francis Bacon’s ‘Three Studies for Figures at the Base of a Crucifixion’ will be displayed with Picasso paintings based on figures on the beach at Dinard, which the Tate said first inspired Bacon to take up painting seriously. In addition, there will be the chance to see a number of Hockney homages to the Málaga artist. David Hockney became so enamoured with Picasso that he visited his 1960 exhibition at the Tate no fewer than eight times. Members of the royal family were also amongst the visitors.

The show includes his 1925 painting ‘The Three Dancers’, which the Tate acquired after the 1960 exhibition.

Amongst the other Picasso pieces on show will be ‘Head of a Man with Moustache’, the Cubist work which was seen in the UK before the First World War when Cubism first began to be known there through exhibitions by the post-Impressionist artist Roger Fry. ‘Man with a Clarinet’ and ‘Weeping Woman’, works which were acquired by two major British collectors of Picasso, Douglas Cooper and Roland Penrose, will also be on display.

The show also takes a look at Picasso’s time in London, the three months in 1919 that the artist spent there designing scenery and costumes for Sergei Diaghilev’s Les Ballet Russes production of ‘The Three-Cornered Hat’. He worked from a studio in Floral Street in Covent Garden and was joined on his trip to London by his first wife, Olga Khokhlova, the Ballet Russes dancer who he had married the previous year.

Picasso was not widely known to the British public at this time, and it was immediately after the Second World War that he came to greater attention with an exhibition of his work at the Victoria & Albert Museum in 1945; the pieces by the Málaga artist and Henri Matisse had been sent over by the French government as thanks for the liberation from the Nazis.

The exhibition provoked hostility amongst conservative British society. El País notes a comment made by Winston Churchill to the President of the Royal Academy, Alfred Munnings, in response to the exhibition, ‘Alfred, if you met Picasso coming down the street, would you join me in kicking his ….?’

The Tate show will also consider the significance of Picasso’s political status in Britain, with photographs of the 1938-39 Guernica tour and of his only other visit to the country to attend the 1950 Peace Congress in Sheffield.

Article Liked by Paul O'Mahoney of Property Point Marbella: For more on this article visit http://www.typicallyspanish.com/news/publish/article_32517.shtml#ixzz1f7jMV4Zt

Monday, 20 December 2010

Property Point Marbella News - Word Lens for iPhone translates Spanish to English - in real time!

Paul O'Mahoney of Property Point Marbella reports on the latest news & events.  For more information, please visit Property Point Marbella's website at www.propertypointmarbella.com.

Remember the Babel Fish? As fans of "The Hitchhiker's Guide to the Galaxy" will recall, it lived in your ear and immediately translated whatever language a person was speaking into whatever language you could understand.

Wednesday, 24 November 2010

Property Point Marbella - Traffic fines to be published on the internet in Spain

The new service starts on Thursday this week

Traffic Fines in Spain The DGT traffic authority in Spain is to start publishing traffic fines on the internet. From Thursday this week a list of all those drivers who the DGT have been unable to locate will be placed online.

Until the now the official notification of fines has been placed in the Official Provincial Bulletin, but one in three is not paid as the offending driver is not located. Now it is presumed that the driver does have internet access.

Ramón Ledesma from the DGT said that the current system often resulted in guilty drivers’ first finding out about their fine when their bank account is embargoed.

Internet users will also be able to access a new ‘Buzón electrónico’ where, be they companies or individuals, they can see notifications of fines, and other items of interest, such as ITV/MOT reminders.

Currently 15% of traffic fines are paid over the internet.

Source: typicallyspanish.com

Paul O'Mahoney of Property Point Marbella reports on the latest news & events.  For more information, please visit Property Point Marbella's website at www.propertypointmarbella.com.

Tuesday, 16 November 2010

Property Point Marbella - www.propertypointmarbella.com - What are the costs of owning property in Spain?

There are of course costs associated with owning a property in Spain. Some of these will be maintenance costs, such as cleaning, repairing, reforming, utility bills, rubbish collection, and so on. These will be determined by the size and type of the property you buy. Obviously a large villa with a garden and pool will require much more effort and cost to maintain than a small apartment. For cleaning a figure of 10 Euros an hour is fairly typical throughout Spain.

Property Point Marbella – Cristiano Ronaldo at his luxury home in Madrid, Spain

For a change from showcasing the best properties in and around Marbella, Paul O’Mahoney at Property Point Marbella enjoyed watching this short home video of Cristiano Ronaldo enjoying time at his new 4.9 million euro home in Madrid.

 

 

Property Point Marbella offer clients a comprehensive range of services; if you are looking to purchase a property in Marbella or elsewhere on the CDS we have a large selection of luxury Villas, quality apartments, townhouses and penthouses to choose from.

For more information, please visit our website: www.propertypointmarbella.com

Wednesday, 27 October 2010

Property Point Marbella - Spanish Culture and Customs

The culture of Spain has been influenced by different cultures; Roman and Arabic culture however, had a great impact on Spanish culture. Visigothic Kingdom ruled the Iberian peninsula and southwestern region of France from 5th to 8th century A.D. The Hispanic region was brought under Christian rule during the reign of Visigothic Kingdom. During the period between 711 A.D. and 15th century, Moorish influence in the Iberian peninsula grew. The period of 'Reconquista' continued from 1000-1492 A.D. This period saw the defeat of Moors. Many of the famous Spanish conquistadors rose during the period of Reconquista. Some interesting facts about Spain are discussed in the following paragraphs.

Thursday, 14 October 2010

Property Point Marbella - 15 events in Marbella


    EL CAMPANARIO WINE TASTING & CUISINE

    Course/Workshop in El Campanario Golf 2010-10-14T19:30:00                                                                                    2010-10-14 Thursday,   14th October     We are happy to announce that the most prestigious wine producers will   start to held wine tasting in the El Campanario restaurant. Apart from   discovering this time the secrets of the best Spanish wines, you will   also... read more
    EL CAMPANARIO WINE TASTING & CUISINE

    Vegetarian Cooking Class at Terra Sana

    Course/Workshop in Terra Sana Golden Mile 2010-10-14T17:30:00                                                                                    2010-10-14T20:30:00 Terra   Sana Cooking Club is hosting a special vegetarian wok recipe cooking   class with participants able to enjoy cooking and dining with the chef   for just 60 euros.   There is a limited space with a maximum of 8 people so... read more
    Vegetarian Cooking Class at Terra Sana

    EL CAMPANARIO LANGUAGE CLASSES

    Course/Workshop in El Campanario golf 2010-10-15                                                                                    2010-10-15 Learn or improve your Spanish or start something entirely new: Chinese.    Native Speakers will be your teacher & you will enjoy those unconventional classes in our special facilities.         Spanish Classes    1 month, twice a week 1.5h    100€/person/month    min. groups of 5    Chinese Classes    1 month, twice... read more
    EL CAMPANARIO LANGUAGE CLASSES

    Stephen Lloyd-Morgan at La Meridiana

    Music in Le Meridiana 2010-10-15                                                                                    2010-10-15 Gala and presentation of The Golden Book of the 100 of Marbella 2010, La Meridiana, Marbella – Guest Performance read more
    Stephen Lloyd-Morgan at La Meridiana

    Party Night at El Paraiso

    Music in El Paraiso Country Club 2010-10-15                                                                                    2010-10-15 Paul & Andrew “Lola’s Boys” showcase of their multi-faceted Cabaret Act. read more
    Party Night at El Paraiso

    Benahavis Senior Masters

    Sport in La Quinta Golf Club 2010-10-17                                                                                    2010-10-17                                                                                                                                                                             36.5123859,                                                -4.9947726 The   European Senior Tour returns to La Quinta Golf and Country Club in   Spain for the second edition of the Benahavis Senior Masters from   October 15-17. The three day professional tournament will be preceded by   two Pro-Am days, where the... read more
    Benahavis Senior Masters

    San Pedro Feria

    Fiestas and Fairs in San Pedro de Alcantara 2010-10-19                                                                                    2010-10-19                                                                                                                                                                             36.49256,                                                -4.992986 San   Pedro celebrates 2010 in typical feria fashion with flamenco shows,   music, bars and food and ending with a massive firework display.     You can see the full programme for the 6 days at www.marbella.es which   shows you an hourly breakdown... read more
    San Pedro Feria

    EL CAMPANARIO CRAFT AND ART

    Course/Workshop in El Campanario Golf 2010-11-15                                                                                    2010-11-15 Gold leaf decoration, textile painting, ceramic work and many more activities are waiting for you in our atelier.     Groups for adults & kids available.    Duration: 1 months, twice a week, 2hours/day.    Price: 130€/person/month    Please see detailed flyer attached.         ART    September    Moisés Callado y Jesús Chacón... read more
    EL CAMPANARIO CRAFT AND ART

    Theatre Night Murder Mystery Supper

    Dining in El Paraiso Country Club 2010-10-23                                                                                    2010-10-23 Think like Poirot and Sherlock Holmes at murder mystery night in the Crystal Room at El Paraiso for just 25€ per person. read more
    Theatre Night Murder Mystery Supper

    Mind Body Spirit Festival

    Fiestas and Fairs in H10 Andalucia Plaza Hotel 2010-10-24T11:00:00                                                                                    2010-10-24T20:00:00                                                                                                                                                                             36.498716,                                                -4.9633503 Mind Body & Spirit Festival Sat 23rd & Sun 24th October 2010 at    The H10 Andalucia Plaza Hotel from 11am to 8pm         Each year thousands of people from all Nationalities visit the annual    Mind Body & Spirit Festival to feed their soul,... read more
    Mind Body Spirit Festival

Courtesy of MarbellaInfo.com visit site here to read more on these articles.

Property Point Marbella - Malaga's Second Tunnel

Underground works in Malaga to include a second tunnel for local railway line
Long job. Work is now under way on the underground line between the Renfe station and the river. A. Cabrera
Construction of the city of Malaga’s future underground Metro service has been under way for the last couple of years although work began on the outskirts. The tunnels will have to cross the city centre, however, and the authorities are preparing for the most difficult part of the project: digging up the Alameda Principal and the Paseo del Parque. On Tuesday the regional Department of Public Works delivered its plans for the central stretch to the City Hall. Along this underground section, lines 1 and 2 will merge between the Tetuán bridge and the Paseo de Reding.
A new aspect of the plans is that they involve the construction of a second tunnel, underneath the main tunnel to be used by the Metro, which will allow the local Cercanías railway line to be extended at a future date to the Plaza de la Marina.
The inclusion of the second excavation is in response to a request made by the City Hall, according to municipal sources, who added that this will mean that if and when a decision is made to extend the Cercanías railway line, there will be no need to dig up the Alameda Principal all over again. The PP group at the helm of the City Hall has been calling for the central government to extend the line for some time.
Work on the 1,085 metres of underground line through the city centre will not get under way at least before May 2011. This the foreseen date for the completion of work on the stretch currently under construction between the Renfe railway station and the Guadalmedina. In order to reduce traffic disruption to a minimum work in the Alameda will not start until things are back to normal in the area around El Corte Inglés.
The tunnels will pass under the north carriageway of the Alameda as on this side it will affect as few trees as possible and be technically less complex.
Eighteen metres deep
The tunnels are being excavated using reinforced concrete diaphragm walls. These will be deepest where the tunnel passes beneath the River Guadalmedina where they will reach a depth of 18 metres below the bridge. At this point the Metro line will be 12 metres below the river bed. In the Plaza de la Marina excavations will go down 15 metres and in La Malagueta, a depth of 12 metres will be reached.
The central stretch of Metro line will include two stations, one in the Plaza de la Marina and another in the Malagueta area near the bullring.
1,085 metres: The length of the stretch of underground tunnel that will cross the city centre.
38 months: The estimated time required for the construction of the central stretch, which will not start at least until May 2011.
125 million euros: The estimated cost of the stretch.
You can read the full article on the "Sur in English" website.

Monday, 11 October 2010

Wednesday, 7 July 2010

International Interest in Spanish House Prices

Last week I spoke with a journalist from the Norwegian Financial Times who was trying to make sense of the official house price data and marry that with some market sentiment. Meanwhile, people are clearly getting sick of the lack of reliable house price data in Spain.

Here’s what I said to the journalist. The only reliable set of figures produced by the Ministry of Housing in Spain is the actual number of property transactions each quarter. Download a copy of that data.

This shows there were 96,155 transactions in Q1 2010 versus 93,095 in Q1 2009, 145,669 in 2008, 211,799 in 2007, 222,720 in 2006 and 186,667.
From a volume perspective, the market was at its peak in 2006 and has been declining since then, bottoming out sometime in 2009 (assuming that the growth experienced in Q1 this year continues). In volume terms, Spain is currently turning over less than half the number of properties it did at the peak.

As an aside, all of our internal business metrics we track at Kyero.com bottomed out in October 2009 and have been increasing steadily since then.
All the other figures that the Ministry produces can be safely ignored. Their figures are also only available per province and for a few large towns within each province – a level of granularity which renders all of these figures meaningless.

As an example, Granada province is home a whole range of mini property markets. It has a thriving university city, well-developed coastal resorts, and sleepy rural economies – and much more besides. According the Ministry, this is a single housing market, with a single average price – clearly nonsense.
So, all we can learn from the Ministry’s figures is the volume of houses being bought and sold. To understand if the market has bottomed out yet, we need to turn to another set of figures – my favourites are produced by TINSA.
TINSA is a property valuations company and they perform valuations for mortgages – so they can be suspected of having a bias of supporting the businesses of their primary clients – the lenders. However, the curve of the graph on their price index accurately describes the phenomena we’ve witnessed happening in Spain.

They describe a steady increase in house prices until sometime late 2007 / early 2008 – and a steady decline since then. According to TINSA, prices are still declining across the board and are currently sitting at around 20% below peak value.

Personally, I’d take issue with the scale of that decline, but I think the overall shape of their graph accurately describes the trend of house prices still falling, but more slowly than previously.

So what about actual house prices? What is property actually being sold for, and how much has it fallen by?

First off, it’s important to establish what baseline we’re starting from. I bought a house in Almuñecar in 2005 for €210K and sold it in 2009 for €270K. At some point in 2008, I believed it to be worth €320K – but who knows? I didn’t sell it then.

That’s the problem with property values, they’re only true at the point of sale. Until a transaction takes place they’re entirely theoretical. Did I make a 29% profit between 2005 and 2009 or did I make a 16% loss between 2008 and 2009?

Unfortunately, even though actual transaction prices are notarised, they are not shared with the general public. There’s no Spanish equivalent of the freely-available government data in the UK – which is why we, and the larger Spanish portals, analyse asking prices – it’s all we have.

However, even a quick look at our Spanish house price index will be enough to tell you that asking prices in Spain do not even roughly approximate to transaction prices. Over the past 18 months the average price hasn’t moved at all – hardly representative of the actual declines we know from first-hand experience have occurred.

Selling my own house and getting 16% less for it than at the ‘peak’ is probably quite typical of what has happened to better-than-average properties in good locations. I also know of good properties sold at a ‘discount’ of over 50% because the seller was in a hurry.

My best guesstimate is that good properties will be changing hands now in the 15-20% discount from peak price. Those less desirable homes, in 2nd tier locations or where there is a lot of property stock will be more heavily discounted – perhaps up to 50%.

If and when the banks dump their stock of repossessions on the market at ‘realistic’ prices, that picture could change again.

As Fitch comment in this article, with the fragility of the Spanish economy, it seems unlikely that a housing recovery will come about through increased spending by Spaniards.

Even though the unemployment rate fell recently, the newly employed or those who managed to hold on to their jobs are far from bullish about their own short to medium term prospects. People in these situations don’t buy a first home or upgrade to a bigger one.

This alone will suppress house prices in Spain because Spanish buyers account for 90% of property transactions.

Until national confidence returns, buyers from other countries are well positioned to buy property at knock-down prices while we are at or near the bottom of the property market.

Would I buy a property in Spain now? Yes, and here’s how I’d do it.
  • Ignore the asking price
  • Negotiate hard and be prepared to walk away
  • Buy a property that a Spaniard would buy
  • Buy in an area without a lot of unsold properties
  • Get independent legal advice
The days of successful property speculation in Spain are long gone for all but the most hardened professionals. For the rest of us, Spanish property is, and should always have been, a lifestyle choice.

Will you make money on a Spanish property you buy today? – probably if you hold on to it long enough. Will it be the best investment you could make? – probably not if that’s your primary objective.

Martin Dell, Kyero.com

Monday, 28 June 2010

Property Point Marbella Spanish Budget Alays Market Fears

Property Point Marbella brings you the latest news on Spanish property.

The incipient panic about Europe’s debt crisis seems to have subsided into mere pessimism this week, with the euro rebounding and investors encouraged by political leaders’ new willingness to take quick action to calm market fears.

The big underlying issues haven’t been erased: Spain is still dogged by speculation it may eventually need a rescue plan similar to the bailout already given to Greece. And many governments are cutting back on welfare programs and other spending to chip away at their heavy debt burdens — and sometimes facing street protests as a result.

Yet positive news from trouble spots Spain and Greece — as well as EU leaders’ united pledge for more banking transparency — helped buoy the euro to $1.2362 Friday, up from a four-year low last week near $1.19, and European stocks held steady.

A key decision was the move by European Union leaders at a summit in Brussels to promise they would reveal the results of stress tests designed to show how banks would do if circumstances worsen. They indicated the added transparency would show that fears about the health of the banking system are overblown.

Worries about Europe facing a worsening crisis that could derail its hesitant economic recovery had weighed on stocks in the United States and Asia over recent weeks.

“I think the market certainly wants to believe that it’s turning the corner, and of course psychological factors are at work here — it’s very difficult for any market to maintain a mood of despondency for month after month,” said Stephen Lewis of Monument Securities.

Pressure on the euro will probably be relieved until the month’s end, though in July the currency could once again dip lower, he predicted.

For a morose Europe, the good news came in threes. First, an international delegation declared Thursday that debt-ridden Greece is on track with reforms required in its massive bailout from the European Union and the International Monetary Fund. Then Spain managed to raise euro3.5 billion ($4.3 billion) from what analysts deemed a successful bond offering, with more demand than there were bonds to be sold — though investors charged the government higher interest rates.

Then came the stress test decision, seen as a vote of confidence in the health of banking sector and a sign of new willingness to meet market concerns head-on.

Though there are questions about how the results will be released — whether they will be sufficiently transparent and in a harmonized framework — it was still an “extremely positive” sign, said Marco Annunziata, an economist at UniCredit bank.

It was a sharp switch from the railing against “speculators” that political leaders have indulged in, or the delay in taking action that marked the early months of this year after the Greek crisis mushroomed and the euro began its slide.

Policy makers in Europe have stopped “simply complaining about markets and almost blaming investors for everything going wrong and switched to a realization that investors do need more information,” Annunziata said.

Iain Begg, a professor at the London School of Economics, said there’s a consensus now “that the cost of dealing with Greece grew because of procrastination. It’s a general learning (process), that they have to accommodate the markets rather than just assume, ‘they’re evil Americans.’”

Germany had initially resisted releasing the stress tests but changed its tune. Though there are concerns current national law might prevent their release, Chancellor Angela Merkel pledged Friday that “we will find ways” to do it — a contrast to her initial stubborn resistance to the Greek bailout and demands of strict conditions on the loans.

European markets have been spooked since Greece demanded a bailout to prevent a humiliating default. A euro750 billion ($1 trillion) “shock and awe” financial rescue package is also being set aside in case other indebted EU nations need help, and though it eased tensions it has failed to put an end to fears of a deeper crisis in the region.

In a sign of how dramatic the situation was before the package was approved, the European Central Bank said this week that the financial market situation in Europe early last month was as tense as it had been following the collapse of Lehman Brothers.

The events leading up to the massive rescue plan also brought a sudden change in sentiment, an abrupt flight to safety by investors and a resulting liquidity squeeze, the ECB said in its monthly bulletin for May.

Across Europe, countries are trying to slash their deficits: Germany plans to cut euro80 billion in spending over the next four years, while Britain is unveiling an emergency budget next week with cuts to welfare benefits and the wages of state employees.

Trouble spot Spain is pushing through budget cuts and labor reforms that Spanish Prime Minister Jose Luis Rodriguez Zapatero claimed would prevent new redundancies and encourage companies to hire more workers.

EU leaders meeting in Brussels this week insisted that they are not worried about Spain. IMF Managing Director Dominique Strauss-Kahn, in Madrid on Friday for talks with Zapatero, praised the government’s handling of its economy.

Earlier this week, Strauss-Kahn’s office had denied a report that he was traveling to Madrid to work on a bailout package. Spain’s government has also strongly denied such rumors.

“I’m confident,” Strauss-Kahn said. “That’s the main message I want to give.”

Story from The Associated Press

Friday, 23 April 2010

Spain is back on the Map

One of the leading British Developers in Spain, Taylor Wimpey Espana, have reported a significant rise in interest from British buyers seeking second homes in Spain.
Despite the current exchange rate, purchaser numbers have increased by some 40% compared to the same period in 2009.
Property Point Marbella have seen similar figures across the Costa del Sol in general. Since the recent approval of the latest PGOU (Urban Plan), visitor numbers to the coast, specifically seeking holiday homes has increased significantly.

Thursday, 15 April 2010

Property Point Presents:

Property Point Marbella recommended reading:

Residential property prices in Spain fell nationally by 5.5% over the 12 months to the end of February, according to the latest real estate price index to be published.
There is a degree of stabilisation, with the index remaining the same as the previous month, said appraisal company Tinsa. But the headline figures hid the fact that in some markets prices are still falling considerably.

A closer examination of the Tinsa figures, which are based on valuations not sales, shows a different story for real estate on the Mediterranean coast and the Balearic Islands. Having improved for four consecutive months since September last year, prices on the coast decreased by 8.2% over the 12 months to the end of February, and by 8.9% in the Canaries and the Balearics.

So since the peak of the market in December 2007 prices are down 15.7% nationally, 22% on the Mediterranean coast, and 16.8% in the Canaries and the Balearics, based on Tinsa figures.

But the latest figures from the National Institute of Statistics, which are based on actual sales figures supplied by lawyers, show that property prices fell by an average of 4.3% last year and by just 10% since the peak, seemingly backing up the trends identified by Tinsa.

They also show that resale property prices fell 3.5% last year and actually rose by 0.1% on a quarterly basis in the last three months of the year.

The Spanish government claims there are signs of recovery. The latest figures from the Ministry of Housing shows there was a small rise in property sales in the fourth quarter of 2009.

‘The transactions in the fourth quarter represent a rise of 4.1% with respect to the same period last year, this being the first year-on-year rise since the fourth quarter of 2006,’ it said in a statement.

But like the Tinsa figures, when the data is put into a wider context the picture is not quite as rosy. The government figures show that there were 413,112 transactions last year, a fall of 19% compared to the previous year, and 46% down on 2007. Even the fourth quarter sales were down 33% compared to the same period two years ago.

And some areas are performing better than others with Madrid and Barcelona seeing sales rise faster than more rural areas. In the fourth quarter of 2009 Madrid saw transactions go up by 41% and Barcelona by 35%.

Source PropertyWire

Monday, 12 April 2010

Briberia Airways? Iberia and British Airways Merge

 Could this mean cheaper flights?  More?  Or just less?

British Airways and Spanish airline Iberia have signed a deal to merge and create one of the world’s biggest airline groups.

The merger, which was provisionally agreed in November last year, is expected to be completed by the end of this year.

In a statement, the two companies said the merger would benefit shareholders, employees and customers.

It is expected to save the airlines 400m euros ($533m; £350m) a year.

The new company will be called International Airlines Group, but the BA and Iberia brands will continue to operate as normal.

The company will have its headquarters in London, with BA shareholders retaining 55% ownership of the company.

In total, the group will operate 419 aircraft, flying to more than 200 destinations, and carry a total of 62 million passengers a year, BA said.

BA chief executive Willie Walsh said the merger would be good for customers.

“The merged company will provide customers with a larger combined network,” he said.

Iberia’s chairman and chief executive Antonio Vazquez said the merger was a key move.

“This is an important step in the process towards creating one of the world’s leading global airlines that will be better equipped to compete with other major airlines and participate in future industry consolidation,” he said.

The merger is seen as a chance for the two airlines to cut costs following two very tough years for the airline industry.

Both BA and Iberia are expected to report heavy losses this year, with BA predicted to announce its biggest annual loss since privatisation.

The airlines are also regarded as a good match, having few overlapping routes.

The merger will also allow the company to compete more effectively with other European giants including Air France-KLM and Germany’s Lufthansa.

The signing of the merger deal follows reports on Wednesday that two US airlines – US Airways and United Airlines – were also in talks over a possible merger.

Analysts welcomed the move in light of the current economic environment in which global airlines are struggling for survival.

“The merger makes huge sense for passengers and airlines alike. It will allow participating airlines to spread their cost base, something they desperately need to do,” said Ashley Steel, global chair for transport and infrastructure at KPMG.

Along with other observers, Mr Steel said that the merger was a stepping stone towards a transatlantic alliance with American Airlines.

The new partners may even cast their net wider, said Stephen Furlong at Davy Stockbrokers: “The tie-up with American is the next thing on BA and Iberia’s agenda now and this agreement brings that closer, but they are probably looking at European and Asian carriers too.”

The Unite union, which represents thousands of BA workers, said it supported the deal, but “not at any cost”.

“Mergers mean synergies, and synergies usually mean job losses and the levelling down of terms and conditions,” said Steve Turner, Unite national officer for civil aviation.


He said workers must be consulted on any “key decisions” about their future.

BA is currently in negotiations with Unite to prevent further strikes by cabin crew, who went on strike for seven days last month over pay and working conditions.

BA and Iberia are expected to complete the merger by December, subject to approval from regulators and shareholders.

One stumbling block could be BA’s pension problems. Its two final-salary pension schemes have a combined deficit of £3.7bn, which it needs to cut.

Last month, the airline agreed plans with unions to increase pension contributions to close the deficit.

But those plans still need to be agreed with pension trustees and the pensions regulator. They could yet insist that BA pays in more money to fill the deficit.

If Iberia is not happy with those demands, a specific clause in the contract allows it to call off the merger deal.

Plans for a tie-up between BA and Iberia date back long before the current troubles in the airline industry.

The two airlines first began working together in 1999 following the privatisation of the Spanish flag-carrier. BA currently has a 13% stake in Iberia.

Source: BBC

Wednesday, 7 April 2010

Good News for Marbella and Costa del Sol Property

For quality bargain properties please click here.

It seems that when property buyers from all accross Northern Europe choose to buy a property in Spain, almost a quarter of them used to decide to buy in the Autonomous Region of Valencia.

But that seems to have changed recently as foreigners are leaving the Valencian market in droves, according to a recent article on Levante-emv.com.  The article shows that new figures from the Valencian College of Notaries (a service one must use to transfer deeds) home sales to non-residents plummeted by 44% in 2009, whilst sales by foreigners leaving the Valencian region accended by 45%.
To surmise; last year there 4,291 foreign vendors, compared to 2,939 the year before and 5,631 foreign buyers compared to 10,040 the year before. 

Remember that there are a lot of properties on the market that may not have sold so they wouldn't have entered in the College of Notaries figures.  Spain as a whole dropped 21% last year.  This obviously affects the Valencian region more than any other and could in part be due to bad press concerning Valencian property laws where they can appropriate ones property or part of one’s property to build urbanisations or multi-dwellings.  Understandable that people are reticent to invest.

This all bodes well for Marbella and Costa del Sol Properties where, although property sales have dropped in numbers, there is now a slow increase as foreign investors are purchasing bargain properties at hugely discounted rates. 
The time to invest some money is now.

For more information on bargain properties please visit: propertypointmarbella.com

Tuesday, 16 March 2010

Luxury Villa. Los Monteros

The villa is located in the prime suburb of Los Monteros, within walking distance of the best beaches and summer restaurants. It was designed and built for the requirements of a modern thinking family who want to enjoy an open lifestyle with the best installations and fitments available for a contemporary home.

Los Monteros gives not only the best location but the suburb offers high security and a closed and guarded entrance.

The accomodation is designed to provide a direct connection to outdoor spaces.

Recreational facilities include gymnasium with attached steam room, home cinema and intelligent networks that control climatic conditions and security, climatic controlled bodega, laundry and technical control room, garaging for four cars, and independent staff quarters.

The character of the home is created with the large open rooms and distribution areas with high ceiling. With well designed Featured lighting gives the house a special ambiance. Doors are modern and custom made with marine coated high gloss finishing that blend with the Bofi fitments in the bathrooms and kitchen. The lounge has a specatacular black glass wall, housing a state of the art contempoary fireplace and entertainment system. This feature reflects and captures the outdoor courtyard with fountain. The bold lines of the decorative vaulted ceiling and lighting completes a spectacular featured room in the villa.

The exteriors are drawn into the interior by contemporary glass walls and large doors. The continuation of the flooring design from inside to the outside and with the use of Balinese architeture elements and sculptures seen throughout the house and garden the exteriors blend into the interior rooms. A pool house pavilion creates a tropical relax area next to the pool that accomodates an outdoor kitchen. The pool is a eastern mirror design with italian mosaic tyles that reflect the sunshine.

Bedrooms: 6
Bathroom: 6
Price: Call For Price
Area: Los Monteros
Built size: 900

More Info: www.propertypointmarbella.com

Wednesday, 3 March 2010


Full Description: This development is situated in a wonderful location (between Marbella and Puerto Banús on the hill opposite the Puente Romano Hotel, ideally connected by motorway), with exceptional sea and mountain views , a great design (Melvin Villarroel style, in 3 floors, 200m2 built, plus another 200m2 in porches, terraces and solarium, and a private garden, 50 to 150m2.), 24 hour security, exquisite customer service, great quality (marble floors, air conditioning hot and cold, 2 pools, etc.). And a great price and finance option.
For more information see:

http://www.propertypointmarbella.com/


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Saturday, 27 February 2010

Spain Tops Overseas Property Searches

In spite of difficult economic conditions and significant falls in the value of Sterling, searches for international property on Primelocation.com increased in January 2009 by 72% month-on-month and broke through the one million barrier in February, according to data released yesterday.

Spanish property was the most popular search on the portal, attracting just under 300,000 searches, some 60,000 ahead of last month’s most popular country, France (238,729). The USA held on to its third position with 153,912.
The portal believes that the countries that have performed the best y-o-y are those located outside the Eurozone, with the USA for example rising by 130% in popularity during that time. Searches for Turkish and Australian property also performed well with a rises in searches of 25% and 18% y-o-y.


“After a slow down in searches for international property in the second half of 2008, we have had a very strong start to 2009,” said the portal’s international business development manager Ann Wright. “Searches for international properties on Primelocation.com were up 72% on December and February searches and leads to agents look to be up over 100% on January. Some of the growth is in areas outside the Eurozone where sterling has suffered less than it has against the Euro. It may also be that people who held off investing in 2008 are now hoping to take advantage of the falling prices in some areas.”

Top 10 searches in February 2009 through Primelocation.com


1.    Spain
2.    France
3.    USA
4.    Italy
5.    Portugal
6.    UAE
7.    Turkey
8.    Australia
9.    Cyprus
10.    Bulgaria

Monthly search destinations – Top 10 January 2009

1.    France
2.    Spain
3.    USA
4.    Italy
5.    Portugal
6.    Australia
7.    UAE
8.    Turkey
9.    Cyprus
10.    Bulgaria

Friday, 27 March 2009

Spain Tops Overseas Property Searches

In spite of difficult economic conditions and significant falls in the value of Sterling, searches for international property on Primelocation.com increased in January 2009 by 72% month-on-month and broke through the one million barrier in February, according to data released yesterday.

Spanish property was the most popular search on the portal, attracting just under 300,000 searches, some 60,000 ahead of last month’s most popular country, France (238,729). The USA held on to its third position with 153,912.

The portal believes that the countries that have performed the best y-o-y are those located outside the Eurozone, with the USA for example rising by 130% in popularity during that time. Searches for Turkish and Australian property also performed well with a rises in searches of 25% and 18% y-o-y.

“After a slow down in searches for international property in the second half of 2008, we have had a very strong start to 2009,” said the portal’s international business development manager Ann Wright. “Searches for international properties on Primelocation.com were up 72% on December and February searches and leads to agents look to be up over 100% on January. Some of the growth is in areas outside the Eurozone where sterling has suffered less than it has against the Euro. It may also be that people who held off investing in 2008 are now hoping to take advantage of the falling prices in some areas.”

Top 10 searches in February 2009 through Primelocation.com

  1. Spain

  2. France

  3. USA

  4. Italy

  5. Portugal

  6. UAE

  7. Turkey

  8. Australia

  9. Cyprus

  10. Bulgaria


Monthly search destinations – Top 10 January 2009

  1. France

  2. Spain

  3. USA

  4. Italy

  5. Portugal

  6. Australia

  7. UAE

  8. Turkey

  9. Cyprus

  10. Bulgaria

Thursday, 26 March 2009

Ryanair to Expand Spanish Flights in 2009

The low-cost airline will open 39 new Spanish routes to and from eight Spanish airports – Alicante, Girona, Granada, Ibiza, Palma, Reus, Santander and Sevilla.

Irish low-cost airline Ryanair is to open 39 new Spanish routes in 2009 despite a sharp drop in tourism due to the global economic crisis, chief executive Michael O'Leary said Tuesday.

"At a time when traffic to and from Spain is collapsing, particularly at the major Spanish airports, including Madrid and Barcelona, Ryanair is still the one airline in Spain growing rapidly," he said.

Ryanair's overall traffic will grow by about 15 percent this year from 58 million to 67 million passengers, said O’Leary at a news conference in Madrid.

"A significant amount of that growth is already allocated to Spain where in 2009 alone, Ryanair will open up 39 new routes to and from eight Spanish airports – Alicante, Girona, Granada, Ibiza, Palma, Reus, Santander and Sevilla."

O'Leary forecast Ryanair would overtake Spanish flag carrier Iberia as the country's largest airline "in about two years".

He saw "enormous growth opportunities" for Spanish tourism and airports but only if the country's airport authority, AENA, lowers its charges.

Spain, the world's second biggest tourist destination after France, reported a record 59.2 million visitors in 2007 but this dropped to 2.6 percent to 57.41 million in 2008 as the global economic slump hit home.

In February alone, tourist arrivals plunged 15.9 percent from a year earlier.

Ryanair made a loss of almost EUR 119 million during its third quarter as fuel costs soared and it reduced fares.

However, last month the no-frills carrier upgraded its full-year profit forecast to EUR 50-80 million from a previous estimate of break-even as fuel costs fall sharply.