Angelina Jolie Moving to the Algarve!

Rumour has it that Tomb Raider star Angelina Jolie and her six children are looking to move to a luxury home in the Lagos area of the Algarve. The Portuguese press reported this week that the Hollywood star is looking to make the move to escape the hectic pace of life in the US. According to one of the daily Portuguese newspapers, a luxury house located on the cliff tops above Lagos bay, has been considered. The stories were sparked by a posting on a celebrity gossip website, which quoted an unnamed source close to the couple saying that Angelina is considering the beachfront property.

Make your offer, and make it NOW!

There'll never be sales like these ones! This is what many people in the consumer industry are saying. The Financial Times ran a story at the beginning of the year about the Harrods Sales. The current downturn overtook many businesses so fast that they were just unprepared for it.

Sale of the Century

Companies like Harrods had their usual full stock of products yet hadn't sold much of this stock. This means that going into the sales Harrods had more products than ever on sale.

This year Harrods simply won't buy in so much stock. They'll work through 2009 with a product more in keeping with the economic climate. This means that the sales next year will be a pale shadow of what they were this year.

This is the same in property. NOW is the time to find the best bargains. Why? Because the builders overseas need to improve their cashflow NOW. If they sell a few units now this will give them the cash flow they need to get through the coming months and years. This will mean they can relax and start being more commercial again.

Even British builders like Taylor Woodrow are having to adopt this approach. The Sunday Times told exactly this story in their article "Bargain Hunters return to the Costa del Sol".

This is not to say that you can go mad and make offer after offer. It is important to actually want to buy the property you're pitching for. "You have to be careful what you wish for!" Says Tim Landseer-Brooks from Amazing Resorts. "Developers will deal, but only with serious buyers."

It goes back to our expression from the last Blog: You want to buy a good property at a great price. It's a bit like being at an auction, if you see a property and you have made an offer that gets you a dramatic discount, go for it!

Distressed or depressed property?

In these so called troubled times of credit crunch and recession it is inevitable in an optimistic company like Amazing Resorts to think of opportunities and bargains that are now out in the market.

However, we have to be careful. To mess about with the famous quote from Warren Buffet, you need to know how to buy a good property at a great price, not a great company at a good price! And that's what we're all about at Amazing Resorts.

There are many offers in the market now for "Distressed Properties". Our different product teams in our many destinations are reporting that there are great opportunities out there now. "Perhaps more than ever," Says Helen, in charge of product for Spain and Portugal. "But there is more rubbish than ever too" She adds.

So in times of trouble the guys who could never sell in the good days are also trotting out discounts and trying to entice people to buy their wares. Here at Amazing Resorts we have started to dub these properties "Depressed Properties".

So what is the main difference between a distressed property and a depressed property.

"I think the biggest difference is whether one is an opportunity or not", says Tim Landseer-Brooks, Regional Manager. "Everyone knows a bargain when they see one, but something shocking is always shocking!"

Certain properties that could not be sold in boom times clearly are not saleable in tougher times, like these.

So beware the big price drop and aim for a property that you like, that you could use and then get it for a great price... in fact, get it for an Amazing price.

Contact us at info@amazingpropertyinspain.com and we will steer you towards the true distressed properties.

Costa del Sol leads Spain's turism figures

According to Spain's National Insitute of Statistics (INE) the Costa del Sol, that southern coast of Spain served by Malaga airport (With more and more flights also coming in to Gibraltar airport) has topped the other Spanish coasts in tourism.

The figures for the month of April put Costa del Sol at 332,352 people staying in hotels in the region. The next best area was the Costa Blanca (The coast served by Alicante airport) with 277,765 tourists spending at least one night in a hotel in the region.

This is a great sign for the Costa del Sol and a fantastic news for people who have invested or wish to invest there. Clearly an increase in tourism like this means enhanced rental potential as well as ensuring that local businesses prosper, a crucial factor in increasing capital growth in a any area.

In our recent article, "Spain is the new Spain" we had commented that perhaps the time had come for Spain to retake its crown as the number destination for British and Irish tourism. The return to the top spot is a step in the right direction.

Amazing Resorts recommend investment in areas with positive attributes, tourism, infrastructure and also excellent communications with the UK and Ireland, not to mention other northern european countries. Malaga airport is probably Spain's best served airport and holidaymakers can fly there from every single airport currently operating in the UK!
Tip of the week for lovers of the Marbella scene is a fantastic development on the road to Benahavis. Contact us immediately on info@amazingpropertyinspain.com for further information. There is up to 50% off at the moment and units are selling fast!
http://www.amazingpropertyinspain.com/

Have an Amazing weekend!

Portugal Newsletter June 2009

Plans for Portimão as Europe’s Hollywood
Backed by Universal Studios and CBS Paramount, negotiations are underway for the construction of one of the largest ever entertainment complexes in the Algarve, combining a cinema studio complex with an amusement park.

The plans to transform Portimão into the Hollywood of Europe as part of the “Picture Portugal” project have been in place for some time however the involvement of interested foreign parties has boosted optimism for the ambitious project. The enormous development, which will require an investment of 750 million euros, is being pushed forward by Portimão Turis, the body behind the Portimão exhibition park.

The cost of building the themed amusement park is estimated to be 550 million euros while the complex for film production will make up a further 200 million euros. New details surrounding the location of the park have been revealed and rumours that it will be based next to the Algarve Motor Park have been confirmed with the 150 hectare site being located at Sítio do Escampadinho. The Picture Portugal project aims to create a new vision in film production in Portugal and will be funded by a consortium of private partners. The first stage of the project will see the construction of two of 11 film production studios to be completed by 2010. Special features of the studios will include post production audio and visual areas, a designated zone for outside film requirements and a “water tank” the size of a football pitch to be used for underwater filming. It is believed that the Algarve is the perfect place for film studios and that there are favourable conditions in Portugal for the film industry. These include a variety of landscapes within a small geographical area, an excellent climate and competitive salaries. Funding approval from PROVERE, the programme for the economic recovery of local resources, is currently being applied for by the project directors; however it is hoped that further private investors will back the development and push it onto the next stage.


Tall Ships Race – Lisbon Confirmed to Host the event in 2012
Once more, Lisbon is set to be one of the main host ports for the Tall Ships Race in the summer of 2012. It will be the sixth time that Lisbon has hosted this event, which gives the city and its maritime heritage enormous visibility internationally as over 1,000 boats from nearly 50 countries anchor in the Tejo Estuary for four days. Lisbon has also played host to the event in 1956, 1982, 1992, 1998, and 2006. More than 4,000 young people under the age of 24, 1,000 journalists and at least half a million tourists will pour into Lisbon from all around the world during the event between July and August 2012, while some estimates suggest that up to 1.2 million visitors could flood into Lisbon. The Secretary of State for Tourism has said that the unique conditions of Lisbon set it aside from all of the other European capitals and its wide estuary and location on the river front makes it the perfect setting to host an event of this nature. The ships will be berthed on the Tejo estuary where members of the public will be able to visit the ships and get involved in a range of activities for four days.


Music Events
In August, a four day festival of adrenalin-packed car racing and international music stars will be taking place at Algarve’s Motor Park. A varied programme is planned with music to suit all ages with British soul singer James Morrison and British hindu rock band Bloc Party already confirmed as headline acts. This will be the first festival of its kind in Portugal and will be held between 5th and 8th of August, named Rock One.

A variety of national and international bands are expected and, according to Portuguese press, Simple Minds, Anastacia, Snow Patrol, Offspring, Linkin Park, James, Sugababes and Groove Armada are all strong possibilities to appear. The entertainment area will cover more than 80,000 square metres and will include a DJ tent with music and a ‘Fun in the Box’ zone, where renowned national bars and discos will be open to the public. There will also be a Playstation zone which will host the Playstation 2009 Challenge and a Blue Planet area with an exhibition about water conservation.

Professional drivers will also be testing cars around the track at this unique festival. Tickets for the festival are due to go on sale shortly. Single day tickets are estimated to cost 50 euros and a four day ticket should cost 80 euros. Tickets can also be purchased in groups of four, with a day ticket for four people costing around 80 euros and a full festival ticket costing 240 euros. VIP tickets are also available, with champagne lounge tickets for two people costing around 1,000 euros and tickets for the motor park’s VIP tower predicted to cost 1,500 euros per couple. For children aged three to ten years, tickets will be available for five euros per child. This will allow children free access into the ‘Kid Rock Garden’ where parents can explore the festival whilst childminders supervise the children.


Live Concerts
Forthcoming live concerts in Portugal include Elton John, Seal, Kylie Minogue and the Eagles, just to name a few.


Sport

Portugals Figo Officially Announces His Retirement
Portugal legend Luis Figo has announced his definitive retirement from the game. He played his final match on Sunday when the Italian champions entertained Atalanta at the San Siro. He also achieved great personal success, winning the world player of the year title in 2001, a year after he was given the Ballon dOr and he was named Portuguese player of the year six times. Figo, who married Swedish model Helen Svedin, earned a remarkable 127 caps for Portugal, scoring 32 goals while playing almost 800 club games.

Queiroz turns to Ronaldo to keep Portugals World Cup dream alive
Portuguese coach, Carlos Queiroz faces a must-win game as he prepares to take his Portugal side to Tirana to face Albania in a World Cup Qualifier with his job on the line. Portugal’s position in Group 1 is dire; they have recorded just one win and have a paltry six points to show from their five games. Albania visited Braga to take on Portugal last October and left with a 0-0 draw, despite playing over half of the match with 10 men after having a man sent off towards the end of the first half. The match will also be the first for Albania’s yet-to-be-named new manager after the resignation of former Dutch international Ari Haan last month.


The Algarve Motor Park

The Autódromo Internacional do Algarve is one of the most modern and multi-functional race circuits in the world. It has been designed to be one of the best and most modern circuits in Europe and benefits from the best conditions of safety and comfort both for drivers and the public. There are an astounding 64 different possible layouts of the circuit, including those that have already been approved by the FIA for Formula 1 and by the FIM for Superbikes.


Events in the next few months include Le Mans Series, Superbike World Championship and Touring Car Champoinship.

Featured Property – Albufeira – Central Algarve – Fantastic Reductions!

Enviably located to the east if Albufeira these properties offer easy access to the best leisure facilities and amenities in the area as well as being within 10 minutes of the beach. These turn-key properties are built to the highest standard and boast a wonderful garden area with swimming pools and tennis court.

Last remaining one bedroom apartments reduced from €140,000 now available from €110,000 and two bedroom apartments at €180,000 reduced from €220,000.

Spain market rallying and Portugal catching up!

Here at Amazing Resorts, we want to stay abreast of the market. In a week where the main overseas news centres on Dubai and its alleged plunge in property value, we can report more interest than ever in Spain and Portugal.

Only days after launching a campaign for a top notch development in The Costa del Sol with discounts of up to 50%, we were inundated with calls and messages.

This trend then repeated itself when we launched two strong campaigns on Algarve developments. Both developers were offering our client exclusive advantages that involved discounts on one resort and guarenteed rental return or condo fees free for five years in the case of the second amazing resort.

So although the news is still pretty gloomy from some overseas destinations, we see that UK interest in the more established destinations is returning.

Distressed property sales!!

Bargain fever has struck the foreign real estate sector and Spain is coming top of every bargain hunter's list.

It seems paradoxical to be view anything that is "distressed" as positive. The term implies that there is an inherent need to move the property on or something bad will happen. Of course we all know that the bad thing is that the developer may go into liquidation or the bank may reposses the property.

So in this world of opportunities is all that glitters truly gold?

Of course it isn't. There is a big different between a developer with a short term cash flow problem and a developer going into liquidation.

In the first case might be a developer who places a limited number of units on the market with a discount so that he can turn them into cash to carry on trading normally. Usually he won't place his very best units on sale in this way and he won't negotiate much on the price either.

The second case might involve a developer desperately trying to shift his stock with all sorts of market trader tactics, discounts, promises of guaranteed exchange rates and so on. This in itself can lead to some very interesting opportunities but do ensure that the property is finished and with all licences and also ensure that a good number of units are already sold. The press and the web are full of horror stories about developments that are half sold and not maintained. Dead grass and green swimming pools is distressing, not distressed!

What about bank stock? There are two type of bank stock: Reposessed stock and stock from debt / equity swaps.

Repossessed stock is basically as it sounds. A developer can not maintain his payments to the bank and so they repossess stock he has not paid for. Invariably the developer is going to let the bank take his worst property. After all, if you had, say, five houses and could only pay the mortgage on our of them, would you let the best one go? Of course not. So we do not necessarily recommend repossessed stock as the best investment.

The second type of bank stock is MUCH more interesting. Debt equity swaps occur when a developer is behind on his loans and mortgages. The bank suggests settling some or all of the debt by selecting some of his stock to cancel the debt with. In this case the bank will choose what they most interests them, NOT what most interests the developer to give them. Amazing Resorts has exclusive access to some of the best debt / equity swaps on the Spanish and American market.

The bottom line? Contact Compass Amazing Resorts as soon as possible via info@amazingpropertyinspain.com and we will be happy to point you in the right direction for the best investments overseas.