US Dollar Comeback could Help Pound and Euro

US dollar makes comeback, 'bucking' world downturn
Amid wreckage of the US financial system, the battered buck makes surprise comeback

NEW YORK (Associated Press) - The stock market is in shambles, credit markets are squeezed and corporate earnings are cratering. But one piece of the mangled U.S. economy is making an improbable comeback: The once-almighty dollar.

As the financial meltdown clobbers world economies from South America to Asia, investors desperate for safe assets are plowing money into the battered buck _ helping it snap a six-year slide and reclaim its long-held status as a stable asset during rough times.

"The dollar has become the safe-haven play," said Kathy Lien, director of currency research at Global Forex Trading in New York. "It's a pretty monumental move we're seeing."

Courtesy: Villas in Majorca | money.cnn.com | New York Associated Press

Renting Abroad

Renting before you buy is always a good option, but don’t forget the rent is dead money; by that I mean non-recoverable. I have spoke to many people about the renting option and they have been looking around the internet for prices per month to rent. Generally those prices you see will always be above average as anyone advertising their property must accommodate the advertising expense within their rental charge.

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Villas Spain Majorca Tenerfie

Currency Panic

How to Control a Currency Panic
Published: October 27, 2008

The financial crisis has ratcheted up a dangerous notch. The currency markets have gone topsy-turvy. The authorities now have to make some pretty big and delicate moves — something like performing microsurgery in a plane in turbulent skies.

The yen has risen by 40 percent against the euro since August, with most of that occurring in October.

This month, the Australian dollar has also fallen by 25 percent and the pound by 16 percent against the American dollar. Swings of this scale are alarming when they happen in the stock market . But they are petrifying in currency markets, because they make it virtually impossible to price exports or imports.

What’s going on? To read more, please follow this link: Spanish Property

Written by: EDWARD HADAS and HUGO DIXON

Spanish Economy News October

Spanish banks solid, but economy feels crisis
Tuesday September 16, 11:40 AM

MADRID, Sept 16 (Reuters) - Spanish banks have minimal exposure to Lehman Brothers (NYSE: LEH - news) , and remain healthy, but worsening global financial market conditions will have an impact on Spain's economy, the Bank of Spain said on Tuesday.
The comments follow concerns smaller Spanish banks could be forced to seek fresh capital if the international financial crisis drags on and bankruptcies continue to soar in Spain's stricken property market.

'The direct impact of the Lehman bankruptcy for Spanish banks... To read the full story, please follow this link:

Spanish Coastal Property

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Economic News
Wednesday October 8, 11:56 AM
EU says told of Spanish banking sector plan

BRUSSELS, Oct 8 (Reuters) - Spain has informed the European Commission of its plan to stabilise the domestic banking system but it is not clear yet if it breaches European Union competition rules, the EU executive said on Wednesday... To read the full story, please follow this link:

Spanish Property for Sale

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Alicante looking for wheely big boost
Article Date : Friday, October 24, 2008

A London Eye-style big wheel has been proposed for Alicante in a bid to bolster the city's image, something that could interest those thinking of investing in Spanish property.

The Alicante Hostelry Association has said ...  To read the full story, please follow this link:

Property in Alicante

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Spanish Tourism Stable
October 2008

October 24th, 2008

Some 47 million tourists have visited Spain in the first nine months of 2008, a figure that has remained largely unchanged (-0.9%) y-o-y, according to the Ministry of Tourism and Trade.

Despite the slight drop in visitor numbers since September last year, figures of tourist activity in September itself show a drop of 5.9% down to 5.7 million last month, suggesting that economic conditions are starting to have an affect on tourism.

While Madrid reported the highest growth in tourist arrivals (7.9%) since September 2007, the Cataluna region registered the most visitors, recording 11.6 million tourists ...  To read the full story, please follow this link:

Villas in Spain

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Properties in Mallorca

I was speaking to a few of my colleagues over the last week, two in Spain and two in Majorca. The two in Spain were reporting a dismal summer in property sales, yet the two in Majorca were reporting brisk business.

Either story implies different economical situations. In Spain you may find vastly reduced property prices and in Majorca you’ll discover a solid market with few price fluctuations. Buying in Spain you may find a quick increase in property price over the next five years. Buying in Majorca and the price increase will be steady.

In five years your property price will be at its peak, so sell and you’ll have made a handsome profit. Keep it and the slump may return three or four years later as the property market ebbs and flows. Five years on in Majorca and the price may have increased by 5%; five years beyond that and it may increase a further 5 to 10%.

Either market you could find a property price increase. With Spain you’ll need to know when to invest and when to sell. With Majorca your investment is pretty much safe, with a gradual increase in investment.

Need to read more… Please follow these links:

Investing in Spanish Property | Villas in Spain | Buying in Spain

Here are 9 blogs that are updated weekly:

Property South Spain | Property Investments Spain | New Property Spain

Luxury Property Spain | Golf Property Spain | Property to Buy Spain

Investment Property Spain | Property Spain | Estate Agents Spain

 

Currency Case Studies

Changing your currency to such as the Euro is an important aspect of buying property abroad. Plus it can be the single most expensive one. Okay… They all say 0% commission, but it is what rate for the £ you get and some differ by as much as £15,000 every £100,000. Here are some case studies:

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Currecny Case Studies

Property for Sale in Spain

With over 30,000 Propeties to choose from and many have not been previously advertised on the internet; we think we have an exclusive service. We try to deliver more than you'd expect, politely and to your own preferences. We hope we can help find your dream home.

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Properties in Spain