Are you ready to POUNCE?!

Having offices in GC and FUE often gives us interesting insights into the differences between the Canary Islands and the reaction of the property markets in each. As a more mature market GC has tended to ‘hold’ rather than reduce prices as it knows the true values will return and appreciate over the long term having experienced slump periods in the past. Developers realise there is less opportunity to acquire new land for development in the future and to sell out now would damage future earning potentials.

While many of the Fuerteventura developers would argue the same point and have echoed GC by not reducing prices at all, there have been one or two short term reductions on selected products giving investors and those individuals ready to buy a unique opportunity to pounce and secure a ‘never to be repeated deal’. The Fuerteventura office has seen an increase in sales as a result of this during the 1st and now 2nd quarter of 2009 in both the resale and new property sectors.

Gran Canaria has made few changes in contrast, however there has been a growth in recent activity where individual vendors have made exceptions to the rule due to their personal circumstances. In the area of Mogan and the exclusive beach and marina of Mogan valley itself there have been some snap buys as the occasional price has been reduced for a quick sale. High rental potential in the area means that any reductions bolster the capital return to buyers of holiday homes and investors alike.

This week a very special property in Playa de Mogan should do well, now priced below €200,000 with a position behind the Hotel Cordial with its lovely gardens and just 150m from the beach itself. For those actively searching for properties to buy now this 2 bedroom apartment offers some lucky purchaser a real deal. Likewise our property of the week in Maspalomas is just €87,000 for a position close to the golf course and famous sand dunes, plus it has its own communal swimming pool and would be an ideal holiday property at a fraction of the cost. The question is are you ready to pounce?!

Congress on CO2 emissions in Gran Canaria

All across the world scientific experts are working hard at ways to limit CO2 emissions, and Spain is doing its part. This year, the 12 th annual Congress of Spanish Geologists is meeting in Las Palmas, Gran Canaria to look at ways to make a difference.

The congress runs from July 14 to 18 and will be based at the Alfredo Krauss auditorium, where 500 delegates will pool their knowledge and ideas. Representatives and speakers will not only be from Spain, Holland, Italy and several other European countries will be taking an active interest.As well as using the auditorium, some of the experts will be going out around the Canary Islands. Visits have been arranged to Roque Nublo and the Maspalomas sand dunes in Gran Canaria and even further afield to Tenerife, Fuerteventura and El Hierro.