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Date: 10th April 2006. Spain and Portugal have suffered one of their worst droughts on record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their crops and livestock. As the manager of Tribune Properties, I predict that property prices in the two European countries could drop as much as fifteen per cent in some areas as more owners decide to put their villas and apartments on the market. For many owners of second homes the original motivation to buy was to have somewhere they could holiday in a relaxing environment. Coupled with the thought of a good investment for the future, the market for overseas homes from buyers in the UK, Germany and Scandanavia has really taken off in the last twenty five years. But soaring temperatures and a strain on the water supply could have consequences for their rental returns from tourists next year, which many owners rely on to meet their overseas mortgage. Many holidaymakers want to rent a villa with a pool - but the attraction soon goes if the pool is empty. Some golf courses are having to cut down on watering their greens too, and it won't take a big fall in tourism to mean the difference between breaking even and not being able to meet the mortgage commitments for some overseas property owners. This autumn could see more properties than usual being put on the market, with a consequential fall in prices. Early warning signs of a potential fall in property prices have already been seen on the Spanish Mediterranean island of Menorca, which has enjoyed better rainfall this year than the Spanish mainland and no water restrictions, but some villas being cut in price by over ten per cent. It is likely that Menorca will see a drop in tourists this year by up to ten per cent, losing out to cheaper destinations in Eastern Europe. Water restrictions on the mainland are having an impact on potential villa buyers, with many questioning the value of a swimming pool when they might not be able to use it. Portugal has recently asked Spain for 6 million euros in compensation, as water levels in the River Douro which runs through both countries fell below limits established in a bilateral agreement,with Portugal coming close to accusing her neighbour of stealing her water. Good Time to Buy For anyone considering buying a property in Portugal or Spain, this September and October could be the ideal time to buy. Unusually many properties were being reduced in price in August, traditionally a good month for sales. We normally see villa and apartment prices being dropped mid September onwards when the tourists and potential buyers are thinner on the ground as some owners are keen to sell and don't want to wait until the following Easter before having a real chance of selling again. The drought isn't the sole cause of property prices falling, but it has accelerated price falls and come on top of an already poor year for many estate agents in Europe. A good barometer for European property are the tax havens of Monaco and Andorra which don't rely on 'tourist' buyers, but usually have a steady supply of buyers interested in taking advantage of the zero income tax rate. Andorra is in the Pyrenees and has no water supply problem - but estate agents were twiddling their thumbs this summer waiting for buyers to show - and they didn't. Monaco similarly has had no water supply problems, but has also seen a lack of buyers. The tourists are still visiting the Principality and hotels in Monaco and Monte Carlo have been as busy as ever, but again there is a lack of serious property buyers, and negative property inflation is quite possible in Monaco this year for the first time in a decade. With more property available on the market we would suggest buyers draw up a list of three or four villas they have viewed and liked, and then suggesting to the owners that they would consider buying at fifteen per cent below the advertised asking price to see which ones are prepared to consider it." Sea Water One possible answer to secure the long term tourist trade and consequential property market is to follow Malta's example of building desaliniation plants, converting sea water to drinking water, sometimes known as 'reverse osmosis'. The Mediterranean island competes with Portugal and Spain for the attention of second home buyers, and has a healthy tourist industry - despite having no rivers and low rainfall, allowing the island to function normally even in drought conditions. The water from this source can be used for agriculture and ensuring adequate reserves to fight forest fires for example - it might just be the answer too for the swimming pools and golf courses - and would allow a plentiful supply of high quality for domestic use. Date: 10th April 2006. British and European Holiday Homes are already experiencing a buoyant demand for 2006, and there are several very good reasons for this. The first unquestionably is the Football (Soccer) World Cup that takes place in Germany from June 9th to July 9th. This is the largest worldwide sporting event outside of the Olympic Games and with Germany being so central for so many of the competing teams, supporters in their millions are already planning the month long trip to Germany. And of course they will all need a bed for the night, German police don’t take too kindly to drunks sleeping on park benches. It all adds up to an explosive demand for properties in Germany for the coming summer, and that demand is spilling over into neighbouring countries too. In Britain the Open Golf Championship returns to Hoylake on Merseyside for the first time in nearly forty years. Liverpool and Chester are only 15 miles away. This is a huge event these days attracting massive crowds (the competition runs from July 20th to the 23rd) and this seaside venue is much more accessible than some of the more remoter Scottish courses that often host this festival of golf. Demand for houses in or near Hoylake, and near can mean anything up to 40 miles away, for this particular week has been phenomenal for the past two years. Some residents are planning to move out and after collecting the equivalent of a year’s rental, for just the one week, many have booked fine holidays in Florida and Australia. All this paid for with change left over on the back of the potential visit of Tiger Woods and company. Can he win the Grandslam? He will need to win at Hoylake to do so. Add in to the mix the traditional attractions such as Wimbledon Fortnight, The Cheltenham National Hunt Horseracing festival, and the rejuvenated English Cricket team, and it all points towards the busiest summer for many years. If you are planning a trip to Britain or Europe through the summer of 2006 make sure you book up your accommodation sooner rather than later. Latecomers could be staring at rapidly escalating accommodation rates, if they can find anything at all! Of course all this optimism could be dented by terrorist outrages, but thankfully most travellers seem to be made of sterner stuff. It is almost as if every incident spurs on many visitors towards an almost Churchillian attitude. “We will not be cowed or put off by cowards!” And may that long be the case. The message seems to be, find a property, secure it by paying the rental in full, and don’t accept any cancellation notice unless a generous compensation package is offered. It all looks like being a fun summer. If you are planning a trip, happy travelling! Date: 10th April 2006. British and European Holiday Homes are already experiencing a buoyant demand for 2006, and there are several very good reasons for this. The first unquestionably is the Football (Soccer) World Cup that takes place in Germany from June 9th to July 9th. This is the largest worldwide sporting event outside of the Olympic Games and with Germany being so central for so many of the competing teams, supporters in their millions are already planning the month long trip to Germany. And of course they will all need a bed for the night, German police don’t take too kindly to drunks sleeping on park benches. It all adds up to an explosive demand for properties in Germany for the coming summer, and that demand is spilling over into neighbouring countries too. In Britain the Open Golf Championship returns to Hoylake on Merseyside for the first time in nearly forty years. Liverpool and Chester are only 15 miles away. This is a huge event these days attracting massive crowds (the competition runs from July 20th to the 23rd) and this seaside venue is much more accessible than some of the more remoter Scottish courses that often host this festival of golf. Demand for houses in or near Hoylake, and near can mean anything up to 40 miles away, for this particular week has been phenomenal for the past two years. Some residents are planning to move out and after collecting the equivalent of a year’s rental, for just the one week, many have booked fine holidays in Florida and Australia. All this paid for with change left over on the back of the potential visit of Tiger Woods and company. Can he win the Grandslam? He will need to win at Hoylake to do so. Add in to the mix the traditional attractions such as Wimbledon Fortnight, The Cheltenham National Hunt Horseracing festival, and the rejuvenated English Cricket team, and it all points towards the busiest summer for many years. If you are planning a trip to Britain or Europe through the summer of 2006 make sure you book up your accommodation sooner rather than later. Latecomers could be staring at rapidly escalating accommodation rates, if they can find anything at all! Of course all this optimism could be dented by terrorist outrages, but thankfully most travellers seem to be made of sterner stuff. It is almost as if every incident spurs on many visitors towards an almost Churchillian attitude. “We will not be cowed or put off by cowards!” And may that long be the case. The message seems to be, find a property, secure it by paying the rental in full, and don’t accept any cancellation notice unless a generous compensation package is offered. It all looks like being a fun summer. If you are planning a trip, happy travelling! Date: 10th April 2006. ENVY IS A TERRIBLE THING. Not so much because it makes those whom it afflicts unhappy, or as myth has it, turn green, but because it dulls their analytical skills. At meeting after meeting, in university seminars and in think tanks around the world, envy of America distorts discussions of what accounts for the wealth of nations. Europeans know that America's standard of living exceeds their own by a very substantial margin. They know this not because they have pored over arcane statistics about output-per-man-hour, or investment in research and development, or other indicia on which economists rely. They know it because they have seen with their own eyes what a modest Holiday Inn at DisneyWorld offers by way of accommodation, service, and food; they know it because they see on television how Americans live, or hear it from relatives living in Florida--or even Detroit; they know it because their policymakers, many of them viscerally and violently anti-American, are always trying to devise programs that will enable their economies to match the performance of America's. When E.U. policymakers are shielded from public view in the safety of a seminar room, they concede that the American economy is the gold standard when it comes to producing the material good things of life. This knowledge is pervasive. Young Italian men are too poor to set up their own living quarters long after American men have graduated from their starter accommodations. Germans are more frequently out of work, and for longer periods, than even the least lucky Americans. Brits snack on tiny sandwiches taken out of refrigerators that barely house a small bottle of milk and a few daily necessities, while America's housewives shop less frequently because their refrigerators are close to walk-in size. All because American working folks produce more of just about everything in any year than their European counterparts. Ah, say Europeans, but the availability of material goods is one thing, "happiness" and "the quality of life" are something else, and very different. Start with vacations. Italians get 42 days of paid vacation every year, the French 37, the Germans 35, and the British 28. We Americans, meanwhile, take off only 14 of the 16 days to which we are entitled. Figures from the Bureau of Labor Statistics show that Americans also work a 49-hour-week, which adds up to 350 more hours of labor a year than the typical European worker. Woe unto the frazzled Americans. IF ANYTHING, these figures understate the difference between Americans and Europeans. Take the British. Anyone who has ever tried to do business in Britain in August knows that the month should be counted as vacation time. Even those trying to work find so many of their colleagues on holiday that they might as well stay home or leave town themselves. Add to that the period between, say, December 15 and January 10, when many Brits down tools, pens, and copious quantities of beer and champagne, and several bank holidays. Throw in the time off now cascading on the work force from the fevered brains of New Labour policy wonks--maternity and paternity leave, sick days, and, soon Europe Day (May 9, as mandated in Part IV, Article IV-1 of the new constitution), and the official figure of 28 days becomes, at best, a lower limit. Date: 10th April 2006. The Holiday homes network providers have implemented online help tutorials for its users making the interface even easier. All of these help and tutorial are available online and can be viewed in the left menu under Help and support. We are always striving to improve our customer support and focus and if there is anything that any of our customers have then we would really appreciate feedback. To view any of these new help and support functions you can click on any of the following links. http://www.holidayhomesaus.com/Camtasia/LinksExchangeHelp.wmv http://www.holidayhomesaus.com/Camtasia/NewAccountHelp.wmv http://www.holidayhomesaus.com/Camtasia/PropertySearchHelp.wmv Please feel free to pass any comments you have back to us via our contact form. We look forward to hearing from you.