More Brits into Spanish airports

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 (she doesn´t develope anything, she´s a pain), 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 accommodation 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.

US hotel group to enter Indian luxury real estate

US based Preferred Hotel Group (PHG) will soon enter into the Indian luxury real estate market with its Time Share model, Preferred Residences. The company had launched the brand in the US market in collaboration with Interval International timeshare exchange network in early 2007. PHG has enlisted eight hotels under the Preferred Residences brand in the US in the last one year. PHG, which entered India with a single hotel property in Delhi, The Imperial, in 2002, has 18 hotels in India now, including the four hotel properties the group added recently. Out of these 18 hotels, two are under the Sterling brand; two under the Summit brand and the rest are under the Preferred Hotels and Resorts brand. “Currently, we are the second largest brand in India, just behind Starwood. Internationally, we are one of the fastest growing brands with a total of 685 hotels across 75 countries,” says Ananya Narayan, Senior Vice President - Global Strategy, PHG

Thats not a bad idea, awsome hotel rooms as shared time flats... Cheers!

Australia: House prices head south, north and east

It could be a warning sign, or maybe just a blip. Property sales are flashing a signal that the fall in Sydney house prices will not be limited to the city's west.
An analysis of 2008 sales reveals that the great Sydney equation - take flats, mix with water views, and you cannot go wrong - could be breaking down.
Even at Bondi, where prices have jumped 12.6 per cent in the past four years, the median price has fallen 1.6 per cent this year after 42 sales, figures from Australian Property Monitors show.
At Avoca Beach on the Central Coast, 115 houses have changed hands this year for a median price of $546,000 - 5 per cent lower than last year's.
In the nearby holiday spot of MacMasters Beach, median sale prices have fallen 15.6 per cent. A few falls do not necessarily make a trend. But property insiders are warning there is little confidence in a market rocked by rising interest rates, fuel prices and a skittish stockmarket.

Have a great day guys!

Spain set for Christmas tourism boom

Overseas property investors in Spain are set to benefit from a surge in tourism this Christmas, according to new research.
A study by TravelRepublic.co.uk found that many Britons were seeking to experience sunnier and warmer weather during the festive season, prompting many to book trips abroad.
The Canary Islands were found to be a highly popular destination, along with other Spanish hotspots such as Benidorm and the Costa del Sol.
Commenting on the findings, managing director Paul Furner said: "The combination of the terrible summer and the clocks changing this weekend have prompted a surge in bookings for Christmas holidays to the sun."
He predicted that since tour operators were offering highly competitive deals, more Britons would book trips abroad for this winter.
An increase in tourism in these areas is likely to be welcomed by investors in the Spanish property market, as rental accommodation is widely let out to tourists, while others have bought holiday flats for personal use.
According to NatWest, Spain is the most popular country among Britons who own foreign property.
Cheers, trust Spanish sun!!!

CLA launches projects in Mysore

(UNI) Capital Land Assets, a group company of the Rs 5000-crore Alliance Group, today announced the launch of its twin residential projects in Mysore. The projects have been named ‘Palm Springs and Palm County’. The two projects offer world-class amenities for luxurious living. Announcing this here, Manoj Namburu, Chairman and Managing Director of Alliance Group, said Palm Springs would have 100 tastefully-designed villas in the sizes of 2000 sq ft to 3100 sq ft costing Rs 70 lakh to Rs 1.25 crore.
Palm County would be a residential layout with plots available in the sizes ranging from 2400 sq ft to 4000 sq ft carrying a price of Rs 24 lakh to Rs 40 lakh. Alliance group had launched residential flats in Bangalore, Chennai and Hyderabad. Recently, the group had launched Real Estate TV, country’s first channel dedicated to real estate and infrastructure.

See ya!

European markets appeal to Russian buyers

Russian property investors are continuing to purchase property in other European countries, a media report has said.
According to Russia Profile, many overseas buyers are choosing to enter the Spanish flats & houses property market, while Cyprus has also proved to be a popular choice.
The news provider attributed their popularity to several factors, such as the good infrastructure in these countries, as well as the safety and quality of the property itself.
In addition, the markets were praised for offering affordable house prices, meaning that many considered a foreign purchase better value for money than an investment in Russia.
The news portal added that these countries were popular with different groups of people, including both middle-class buyers and "super-wealthy" Russians.
According to a recent study by Yorkshire Bank, many prospective buyers want to enter the Spanish property market in order to enjoy its warm weather. (warmer than Russia)

Cheers!!!

Banks observe strike in Punjab

Bank Employees & Officer observed complete strike today in Punjab. The strike was held on the call of All India Bank Employees Association & All India Bank Officers Association. A Procession was also brought out throughout the main bazaars of the city. Employees held a rally before State Bank of Patiala, Head Office, The Mall, Patiala. The rally was addressed by Com.N.K.Gaur General Secretary, Punjab Bank Employees Federation, Com.Vinod Sharma Gen.Secretary. A.I B.O.A (Pb.State) committee, Com.Yog Raj Gupta President A.I O.B.E.F, Com. Sushil Gautam General Secretary, State Bank of Patiala Emp. Union (Pb. State).
The in support of demands of Sponsoring committee of trade unions against the decisions of the Central Govt. to rush through the agenda of Economic Reforms, specially Financial Sector Reforms the banking sector employees are opposed to the reduction of Govt. Equity in Public Sector Banks to 51% and demands that recommendation of Hooda Committee and Raghurajan Committee to reduce Govt. holding in public Sector Banks below 51% be rejected. They are opposed to the merger of public Sector Banks because they will neither become strong and nor they will be global in size. Rather the purpose for which Banks were Nationalized the very purpose will be defeated, they are opposed to unrestricted entry of FDI in banks and removal of Cap on Voting Rights which is 10% at present and the Bill for amendment was already been introduced in the parliament the speakers said the present policies of Public Sector Banks are Pro Corporate and are against interests of common man. They are opposed to the decisions of the govt. to Merge State Bank of Saurashtra in State Bank of India to be followed by merger of other Associate Banks. The meeting of United Forum is being held tomorrow in Chennai on 21st August, 2008 to chalk out further programmes including Strike actions.

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