The residential property market in Spain is set to bottom out next year and see a 2% rise in prices in 2016, according to ratings agency Standard & Poor’s.
It is well documented that the fall in prices has been slowing in recent months and the agency is predicting that prices will fall overall by 2% this year compared with 4.6% in 2013.
Property prices in Spain have fallen around 30% since the economic downturn hit the country’s real estate markets in 2008.
S&P says that the positive outlook for the property market is down to a faster than expected recovery of the Spanish economy and a subsequent quicker fall in unemployment.
According to the Spanish Central Bank the country’s economy grew by 0.5% in the second quarter of 2014, the fastest rate in six years, and the latest job figures show that 192,000 people had joined the country’s workforce in the 12 months to the end of June.
Experts say there has been a change in trends in the Spanish property market in the last 12 months with the arrival of British and US property funds who are taking advantage of the offers in the Spanish property market.
But the market is unlikely to recover everywhere at the same pace. It is predicted that properties on the coast, including areas popular with second home owners, will see prices rise first.
However, according to S&P the long term recovery of the property market could be kept on a leash by the high number of properties on the market in Spain and the country’s population decline could also put a brake on the long awaited recovery.
S&P said in January that Spain’s housing market was overvalued by somewhere in the region of 12% to 20%.
According to Mark Stucklin of Spanish Property Insight, Standard & Poor’s is a bit more pessimistic than other agencies, who believe a recovery may begin as early as 2015.
Several reports in recent weeks have spotlighted the slowdown in the price declines, prompting different analysts to predict the bottom of the market may be nearer.
LINK TO BESPOKE SPANISH VILLAS ON THE COSTA BLANCA - VILLAS
Harlequin Hotels, the company that owns Buccament Bay Resort in St Vincent has won a fraudulent misappropriation case against a former contractor at the resort.
Harlequin Hotels and Resorts said in a release last week that it had won the case against Padraig “Paudie” O’Halloran.
The High Court in Ireland heard that the contractor fraudulently misappropriated more than US$13 million from US$50 million sent to his firm for the resort’s construction.
“During the 31-day trial, Harlequin provided evidence and witness testimonies detailing how O’Halloran fraudulently misappropriated in excess of US$13m from US$50m that was sent to the ICE Group for the resort’s construction. Of the $13m that was diverted, more than $2m was sent to Ireland to pay for items including a lavish wedding. The Court also heard that sums were used to fund luxury purchases, such as a US$1.5m private jet, a racecourse in St Lucia, a car franchise business and renovations to a rented property on the Sandy Lane estate,” Harlequin said in a release.
Harlequin also stated that while the funds were being misappropriated, very little of the promised construction work was actually carried out at Buccament Bay Resort, resulting in the resort opening later than originally planned and on a smaller scale.
Follow the link to visit the now open amazing 5* Buccament Bay resort - LINK
Pat Cash, John Barnes and Rob Howley are amongst the sports stars still to coach on the 5* Buccament Bay resort in 2013
Pat Cash, John Barnes, Teddy Sheringham and Lewis Moody are just some of the legends from a range of sports who will be providing master class coaching to guests for the second half of 2013 at the luxury, all-inclusive Buccament Bay Resort in St Vincent & The Grenadines.
It's been an amazing first six months of 2013 for sports fans at the award-winning Caribbean hotel, with big names like Liverpool FC legend David Fairclough, Grand Slam tennis star Lee Childs, ex-England cricketer Ronnie Irani, and Wales’ rugby team coach Rob Howley already delighting guests; however, the next six months promise to be even better, so scroll down for a full list of the sporting legends who will be visiting Buccament Bay between July and December 2013!
Liverpool FC International Football Academy Soccer School
John Barnes: 14th – 18th July 2013
Liverpool FC & England international legend
Ronnie Whelan: 11th – 25th August 2013
Liverpool FC and Republic of Ireland legend
Teddy Sheringham: 23rd October – 2nd November 2013
Tottenham Hotspur FC, Manchester Utd FC & England legend
Pat Cash Tennis Club
Chris Wilkinson: 4th – 18th August 2013
Former British no.1 and Grand Slam player
Pat Cash: 18th August – 1st September 2013
Former Wimbledon Champion & tennis legend
Lewis Moody: 28th July – 11th August 2013
England legend, World Cup winner & former Bath RFC and Leicester RFC star
Rob Howley: 28th December – 6th June 2013/2014
Current Lions assistant coach; Wales & Cardiff RFC legend
Buccament Bay Resort Cricket Academy
Martin Bicknell: 26th December – 6th January 2013/2014
Former Surrey and England cricketer
Follow the link to reserve a room at Buccament Bay - BUCCAMENT BAY
Valentine's Day is approaching and it's that time of year to reflect on what brought you together and sharing those precious moments with each other.
A holiday at the 5 star Buccament Bay Resort is all about celebrations. This Valentine's Day, make sure you get to take some time out of your busy schedule and enjoy some luxury treatment.
Activities that will keep you both going...
Improve your tennis skills with the resident tennis coach or experience a romantic sunset cruise with cocktails and canapes; lie back and enjoy a fantastic treatment in the ESPA Spa, be wined and dined at one of the four great restaurants; most of all, find time to enjoy each other.
There are two romantic packages for Valentine's Day at Buccament Bay Resort...
If after visiting the resort you invest in one of the units then your holiday cost will be refunded (maximum £3000).
Further information - LINK
Kay Wilson, who runs Indigo Dive at Buccament Bay Resort, has been honoured with the St Vincent & The Grenadines 2012 Tourism Award for Outstanding Service in the Tourism/Hospitality Industry!
This fantastic achievement comes a year after Indigo Dive was awarded PADI 5 Star status for its excellent standards of dive tuition, and in the same month that Kay, along with the Buccament Bay Resort team, hosted a very successful Kids Sea Camp by Family Dive Adventures for a special thanks giving event that saw dozens of children attend.
To book a holiday on Buccament Bay or to invest in one of the resort units follow the link - BUCCAMENT BAY RESORT
Buccament Bay Resort on the island of St Vincent wins three places in Travel Weekly’s “Best Hotels in the World”
The Water Front Village at Buccament Bay Resort in St Vincent & The Grenadines.
Buccament Bay Resort is extremely proud to receive even more honours to add to the collection; this time, the luxury, all-inclusive resort in St Vincent & The Grenadines has been voted in the top ten best hotels in the world in THREE categories, courtesy of Travel Weekly.
The polls, voted for by travel industry professionals, ranked Harlequin Hotels & Resort’s flagship Caribbean resort in the top 3 for Best New Hotel, as well as top ten places in Best Family Hotel and Best All-Inclusive Hotel.
This comes after Buccament Bay Resort won two World Travel Awards for
Caribbean’s Leading New Hotel and St Vincent & The Grenadines’ Leading Spa Resort.
Such fantastic industry recognition for Buccament Bay Resort and Harlequin
Hotels & Resorts is testament to the great work of the resort team, the strides that the resort has taken since opening.
To book a holiday on Buccament Bay or to invest in one of the units please follow the link - LINK
Buccament Bay Resort wins “Caribbean’s Leading New Hotel” and “St Vincent & The Grenadines’ Leading Spa Resort” 2012
The WTA awards programme, hailed as “the Oscars of the travel industry” by the global media, highlights and rewards those travel brands that have made the greatest contribution to the industry over the past year.
In winning “Caribbean’s Leading New Hotel” for 2012, Buccament Bay Resort beat the likes of Hotel Riu Palace Bavaro (Dominican Republic) and The Hotel Chocolat (St Lucia), whilst the St Vincent & The Grenadines “Leading Spa Resort” honour was awarded over competitors like Palm Island Resort, Petit St Vincent Resort and Young Island Resort.
About the World Travel Awards
WTA was launched in 1993 to acknowledge and recognise excellence in the global travel and tourism industry. Now celebrating its 19th anniversary, it is regarded as the very highest achievement that a travel product could hope to receive.
A packed delegation of VIPs, senior tourism figures and international media traveled from more than 30 nations to attend WTA’s Caribbean & The Americas Ceremony 2012, which was supported by Turks & Caicos Tourist Board and Scotiabank.
CARIBBEAN’S LEADING NEW HOTEL 2012
• Winner Buccament Bay Resort
• Cofresi Palm Beach & Spa Resort Dominican Republic
• Hotel Riu Palace Bavaro Dominican Republic
• The Hotel Chocolat St Lucia
• The Magdalena Grand Beach Resort Tobago
ST VINCENT & THE GRENADINES’ LEADING SPA RESORT 2012
• Winner Buccament Bay Resort
• Canouan Resort Grenadines
• Palm Island Resort
• Petit St. Vincent Resort
• The Cotton House
• Young Island Resort
To find out more, please follow the link - BUCCAMENT BAY
Chat show host invests in the 5* Buccament Bay resort on Saint Vincent in the Caribbean.
Link to the information page - HOTEL RESORT SALES
KINGSTOWN, St Vincent and the Grenadines, Argyle International Airport is on target to open in late 2013.
This has been confirmed by the developer responsible for constructing the new St Vincent and the Grenadines international air gateway.
According to the International Airport Development Company (IADC), work has been completed on close to three-quarters of the earthworks for required for the airport’s runway, apron and taxiways. Earthworks on the airport commenced in August 2008 and since then the work team, comprising Vincentians and Cubans, have been have been hard at work, clearing and grubbing the area, demolishing the abandoned structures on the site, and removing the top soil.
The IADC affirmed that “work on the terminal building continues apace”, ensuring that it is on schedule to be completed by the contracted date of December 2013, in time for the tourism high season in the Caribbean.
The Argyle International Airport is being built on about 290 acres of land, with a paved runway 2,743 metres (9,000 feet) long, and 45 metres (150 feet) wide. Its runway length will allow for direct flights to St Vincent and the Grenadines from USA, Canada, Europe and Central and South America. The airport is designed to accommodate jets as large as the Boeing 747-400s.
The US$216 million airport is expected to boast a single 1.5 million capacity per annum terminal built over three-storeys on 145,000sq ft with dedicated areas for ‘domestic’ and ‘international’ passengers. The terminal building will have about 8,700 square metres of floor space, to handle about 1.4 million passengers per year.
As of May 2012, the contractor, Overseas Engineering Construction Company (OECC), had completed 23 percent of the work on the building.
To book a holiday to St Vincent follow the link - HOLIDAY
To invest in the 5* Buccament Bay resort which is being built to help cope with the influx of the 1.4 million visitors a year follow the link - INVEST
The first plane in the Harlequin Air fleet has now been fully decorated and modified, with the second plane delivered for the same treatment.
Interior and exterior modifications to the first plane were inspected on Monday in Arkansas, US, and given the thumbs up. It’s expected to start the journey to its new home in the Caribbean in the coming days; meanwhile, the second plane was delivered to the US on Monday for the same beautification: Harlequin colours and logos; “Harlequin blue” carpets; and cream leather seats with the Harlequin logo.
Harlequin Air will exclusively serve guests at the Caribbean hotels and resorts, providing island-hopping transport for transfers to and from transatlantic flights,
excursions, and visits to the other hotels and resorts. Although that last
feature can only become available when one of Buccament Bay Resort’s sister luxury destinations is completed, it’s still arguably the most exciting. One day soon, it could allow a guest at Bucc Bay to also be a visitor or guest at any of the Caribbean hotels and resorts currently under development, and any that are yet to conceive!
The best part is this is just the beginning: the Harlequin Air fleet will continue to grow over the coming months as Harlequin endeavour to meet the increasing demand for bookings in 2012 and beyond. Initially, the service will carry as many of the guests as possible; however, Harlequin intend to eventually make it available to all.