NEWSLETTER – JULY 2010 - ISSUE 3 

Hi All,

Spain win!

July 11th 2010
Champions of the world was a title that never sat comfortably with Spanish people. For hundreds of years it was not in the interest of the political and religious leaders or indeed dictators of this great country to see the people united. Everything changed that night in South Africa. Madrileños, Catalanes, Islanders and Vascos embraced in tears and stood together as World cup winners.

A team built on efficiency, spirit, hard work and ability to overcome adversity will become the new torch carriers not just for a football team but for a cultural shift that will be felt across the world for generations, economically and socially. If this blueprint is copied in the fields of finance, tourism, technology - fields that the Spanish have always threatened to become world beaters in - they know now they can achieve anything.

This was not just a football tournament, it was a magic moment for a country finally becoming all that they can be.

At last ... Spain- Campeones!!

World Cup 2018
Surely not even FIFA can fail to award the 2018 World Cup to Spain uncontested. We have the best infrastructure in Europe, the best Stadium in the world, the best football league in the world and now its official, the best national team assembled anywhere in the universe.We mentioned that winning the world cup will be massive economically for the nation. Being awarded the next tournament, and that will happen, will result in 700 million pairs of eyes looking at Spain as a place to visit, invest in and maybe even relocate businesses and homes to.

We await the decision - be ready!

Dublin Opportunity
We mention in a different part of the newsletter that we are looking for agents all across the world. Closer to home, we need someone based in Ireland who can help develop the Comaskey properties brand with estate agents and clients. We are looking for an organised, efficient individual who believes in high standards, the value of a great brand and has a dynamic approach to business. Maybe as a sideline to an existing business or as a stand alone enterprise- commissions can simply be earned by bringing together property sellers with potential property buyers. As we keep saying- there has never been a better time.
If you have thoughts on how clients can benefit please email ian@comaskey.com


Weather Update
Can you imagine how hard it is to find something to talk about without having material such as "thats a great/cold/wet/windy day, have you heard the weather forecast ...wonder how it will be tomorrow? "- You know the sort of thing. Here, its always "great". So, just to save anyone wondering, its currently 29 celsius in La Zenia. Average July temperature is 24.2 with approximately 12 hours of sunshine per day. My favourite statistic from the Spanish Met service though is the average number of days rain in July .... "less than one". Thats my sort of odds and enough to make you want to jump in the Mediterranean - which I just might do!
  
Yvonne
Well done to Yvonne (and Stan) Hollywood on the birth of another little angel, Milena. Mother, daughter, sister and very happy father are all doing very well.
  
Global Currency Exchange Network
Our good friend Marie in Global Currency and I had a chat last week. It looks more and more like the exchange rate of Sterling to Euro will move to £1 to 1.25€ before the end of the year, at the latest. The recent change of government in Britain all but guaranteed this would be the case. Sellers be careful! We have been warning you of this situation for months now. For sellers looking to get a good deal on exchange rates Marie can book your sterling now, at todays rate. For sterling buyers, again Marie will fix you a good rate to allow you to get the best value possible. Our advice is never rely exclusively on your bank giving you the best deal without checking with us first.

Tel: Spain 966 733 479
Tel: UK - 0844 734 3299
www.gcen.co.uk
 
Bank Repossessions
There has been a huge shift recently in banking in Spain as well as the rest of Europe. Basically there are too many banks and Caja's and there will be amalgamations between the smaller groups within the year. In order to prepare for the inevitable, many of these institutes are keen to get over valued property off their books. This creates an opportunity for investors interested in 100% financed houses and apartments. Previously the banks wanted buyers to pay what they were owed regardless of the current value. You'd be amazed at how many people paid to much for these repossessions. Finally, however we have a list of value for money bank repossessions. You could call it an opportunity list and its available from the office.
 
Every Ash Cloud Has A Silver Lining
I read with interest that during the confusion of the ash cloud and a European government who totally over reacted, a new breed of traveller emerged. Incredibly, 3,500 less "non nationals" signed on to receive dole money from the Irish tax payer during this time. Now, why was that? They don´t live in Ireland, thats why! By my amateur maths, that should mean a drop for the same reason in the UK of 53,500 people who didn´t sign on during that time. So, as we struggle to turn our economies around, and continue to increase tax to keep our countries from going broke, we allow this stealing from the ordinary people to continue. We won't report them to the European Central Court as we don´t want to hurt their feelings. Is it any wonder we're in this state!! Fraud in my book is fraud.

V.A.T. Changes
 In order to increase spending and stimulate the economy in Spain, Prime Minister Zapatero changed the VAT rate. More specifically - he increased it! Its not as bad as it sounds however and the main changes are:-

VAT in Spain has just increased from the 1st July 2010, from 16% to 18% for general services, and from 7% to 8% for the reduced rate for services and food production. Spain and Zapatero are aiming to reduce its budget deficit from 11.2% last year to 9.3% this year, 6% in 2011 and below the 3% EU threshold by 2013!
 
This isn´t bad news for the property buyer!  Although for new build/off plan property, VAT in Spain (or IVA) has increased to 8% from 7% with effect from the 1st July, the good news is that it will remain at 7% on resale property for the foreseeable future, and there are so many bargain resale properties around! 
  
Akilar
We always like to plug our friends' business so here is another one. You will know that Comaskey Properties has a cracking short and long term rental team with both Susie and Rachel proving the rental market can be profitable and relatively straight forward. Our favourite I.T. man, Paul Cullen runs a web site, Akilar.com which is a holiday rentals type site and is a great boost for landlords. Take a look and of course we encourage anything which helps get people into your apartment. If you're wondering where the name Akilar came from, the Spanish verb to rent is Se Alquilar so for this site they've changed it to Akilar. Its like something I would have thought of. www.akilar.com
 
OakAllan
While in the humour of promoting businesses, for free, a shout out to Adam and the team in OakAllan. These guys as far as I know offer the first No Win, No Fee legal service in Spain. The basic theory is that if you need to sue someone (not Comaskey's please) Adam finds you a lawyer, pays legal and court fees and assuming you win, they split the money with you. Its not a new concept but works well in the U.K. in particular. I believe consultation is completely free. More details on www.OakAllan.com
 
Tracie Miles
Welcome to our newest team member, Tracie Miles. As well as being the one responsible for getting this news letter out to thousands of you (quite literally) Tracie will be the link person getting clients from deposit to notary stage without any stress for our buyers and sellers.

Agents
 As always, we are increasing the number of agents we have in Ireland, the U.K. and across Europe. If you feel you may have clients, friends, relatives or  work colleagues interested in taking advantage of the great property prices available just now in Spain, please email us about the possibility of making you an agent for Comaskey Properties. You will not only get a reward for yourself but you will be assured that your clients gets the best possible deal on the market today. For potential agents who maybe are already in the property/finance business we can talk to you to discuss commissions and how the system works. Just call us on 0034 966 773 453 or email Tracie tracie@comaskey.com
 
The  Moors and the Christians
Never ones to miss the opportunity to commemorate a massacre, In mid-July, the town of Orihuela, in the province of Alicante, celebrates the Re-conquest fiesta, commemorating the arrival of Christian troops in the 13th century, and their triumph over the Saracens. At the festivities there are plenty of "Moors and Christians" parades, filling the town with colour, spectacle, joy and music.

The most important day of the fiesta is 17 July, with the Santas Justa y Rufina (the town's patron saints) procession, and a parade with the Gloriosa Enseña del Oriol – the flag (locally called senyera) of Orihuela. The festival is also noted for the large amounts of eating and drinking done by the locals. Good times!
  
Well that's July's news in Spain. It's good to hear governments saying that the recession is over and consumer spending is up. We need all prices in retail and service industries to stabilise before we can fully rebound so just maybe things are turning. Do your bit for the world economy - Buy a house in Spain. (A Big one).

And Finally, finally.
This is the best football interview of all time. Minutes after lifting the world cup a very emotional Iker Casillas is interviewed by his very emotional girlfriend live on Spanish tv.

http://www.youtube.com/watch?v=6BAA3mIh6LY&feature=popular

Football and love together- beautiful!
 
Let us know your thoughts and we'll chat next month.
 
Regards,

The Team