Starting to feel the Autumn chill? More and more of us are choosing to feel the sun on our backs and an increasing number are choosing Tenerife as their new home. In order to take the risk out of making the move, we are going to be starting a series about moving to the island, and we're looking for your help as you'll see in our first article, `Home Sweet Home... In Tenerife'. We also have a look at some appalling reporting in the press, with some sound advice for you in, `Buy Property, Not Newspapers'. The 2007 International Property Awards have been presented, and we take a peep behind the scenes to see just what these awards mean and what goes into them. Finally we look at some of the latest offerings from the press, which seem to be a reversal of the pessimism we saw just a few months ago.

In addition to this month's crop of articles, we have our regular local news cuttings and, of course, our pick of the best properties on the market this month. We hope you enjoy this edition, if you did then click reply and let us know what we're doing right. If you didn't, we'd love to know how we can improve, so drop us a line!

So many subscribers to this newsletter are considering Tenerife as their permanent home, and many have asked us questions related to residency and making the big move. Considering emigration is a big step, and there is no replacement for good research and honest advice. The more you know before you take the plunge, the greater your chance of success in making your dream come true. Jobs, money, health and education are just a few of the many subjects that most concern people, but as you research further, you'll discover that even these are just the tip of the iceberg.

We have been looking at all the questions that we have been asked over the years, whether you're worried about pets, confused by the myriad of television and telephone packages available or you are confused about how to integrate properly into the Spanish system. We'll aim to give you the answers.

It's an ambitious project, and we are hoping to get your help! If you are considering the move to Tenerife, then please share your worries, questions and concerns with us. If you have found it difficult to find information or have been confused by what you did find, then we really would like to know. We'll take your questions and make sure they are answered in the various articles that we will be producing for our newsletters and website. Your input will help many hundreds of people like yourself to make sure there are no nasty surprises lurking around the corner.

Buy Property, Not Newspapers!

Unless you have been on Mars for the last few months, you will have been inundated with the wild speculative reporting about Madeleine, the desperately sad story of the child who went missing in Portugal. This was then followed by mud slinging as the press defended all their inaccuracies, saying that it was all the fault of the Portuguese police that they had to make up news stories based on guesswork and gossip. Their defence is that they had to make up stories because the police didn't give them enough information. The public was desperate to know more, and the press had no facts. Of course, the only course of action was to make up news, speculate sensation ... and flog more newspapers.

This need to sell newspapers through sensationalism is triggering a new backlash to the press' reporting of the Spanish property market. Some editor somewhere noticed that lots of people owned property in Spain. They noticed that there was a slowdown in price growth in the Spanish property market. What followed was another bout of wild speculation as journalists competed to predict ever more dire property crashes. Now questions are being asked about how true all the speculation really was.

Here we are in October. Prices have not crashed. In fact they still seem to be growing, although (thankfully) the growth levels are more modest. Demand is still there. In fact, looking at the number of new enquiries coming into Tenerife Property Shop, numbers are higher than 2005, but slightly down on 2006. It's certainly not looking like the doom and gloom picture that the press had painted for us.

What we have seen is that vendors are increasingly panicky about selling their properties. Prices are being cut as they read increasingly dire predictions in the media. Buyers are on the market, but now they expect offers to be accepted, and need to feel that any purchase is a bargain. It is a very strange situation.

But slowly, it seems to be dawning on the press that the crash does not exist. Just because prices are only rising by 5% and not 25% does not mean that the bottom has fallen out of the market. Tenerife property is still below European averages, and as such, constitutes a very good deal. People are moving to Tenerife in higher numbers than ever before. It would seem that the press may have got it wrong again.

Throughout history there have always been scaremongers, and hysteria has always been contagious. History shows that those who keep their wits about them will end up as winners, and the property market is no exception.

If you're in a position to buy a property in Tenerife, the best advice you can get is to do it sooner rather than later. When the UK press finally figure out that property here is a strong commodity, that the investment returns still beat the stock markets and that our growth still exceeds even UK property as we make our way up to the European average, it will be too late. Right now, you are in a strong bargaining position, best grab it while you can.

Tenerife Property Shop has won many awards, and this year's International Property Awards, held in London last month, was no exception. With such a history of success, winning such industry praise year on year, you might think that we have become blasé about such accolades. You'd be wrong!

This year the Company was awarded a five star award in the Best Estate Agent category. This is the highest type of commendation possible, and being recognised by professionals from the property industry is no mean feat. The judges are picked from the most respected international bodies, and their scrutiny of the Company is both exacting and demanding. Remember when you sat important exams at school? Remember the hours of revision, swatting, the clammy hands and nervous tension as you entered the exam hall? Preparing for the property awards is a very similar experience.

The fact is that we never stop our preparation. The judges are not just interested in a one off moment of brilliance. They seek proof that all our dealings, throughout the year and in every department are at the highest levels. In March, the examining process begins. We present documentary evidence of the dealings of all areas of the Company, we detail every staff member and their roles, we provide copies of client correspondence, copies of all literature that we produce... in fact bare the inner workings of the Company for inspection in every minute detail. Preparation is exhaustive (and exhausting) and takes our project team about a month to prepare.

Despite this rigorous process, we approach these awards with enthusiasm. We understand that in an industry where it is difficult for a potential buyer to tell the difference between one Estate Agent and another, there has to be some way to sort the wheat from the chaff. In over two decades of helping clients, we have unfortunately amassed a huge collection of horror stories that have shattered the dreams of the unwitting. With no meaningful guide (or even legislation) to protect the property buyer and seller, international recommendation from the property industry is the only reliable guide. No amount of claims, testimonials or fancy advertising can possibly have as much real meaning. The only shame is that even today, some people will still be lured into unscrupulous hands, hoping to save a few Euros today, only to find that it cost them dearly later. Unfortunately there's not much we can do about that.

So you can see that the International Property Awards have become a hugely important mark of credibility for us, and for the many thousands of clients who have and will use our services. When Autumn comes every year, our Directors, Bruce Grindley and Mary Spencer attend the ceremony with some trepidation. Just like the time when you saw the letter arrive on your doorstep, telling you if you had passed your exams, it is a time of nervous anticipation. Every year the goalposts move and expectations of quality are higher than the last. Every year, the competition from other Estate Agents gets stiffer. Fortunately, we have a great team and an ethos of high standards and ethics. We're proud of our success in the International Property Awards, and with some insight into what goes into them, you will agree that we have every right to be!

STOP PRESS: NEXT STOP LAS VEGAS!

Awarded the highest accolade of five stars, Tenerife Property Shop was automatically entered for even higher levels of recognition – Best International Estate Agent and Best International Estate Agent Marketing. Nominated alongside some of the world's largest and most successful companies in the International Real estate Sector, Tenerife Property Shop faces formidable competition at the awards ceremony in Las Vegas on November 16th 2007.

Learning of the nomination, Bruce Grindley commented "This raises the level of our achievements to a new high by being one of only five nominations from all the countries in the world to be considered for this special award. Having been elected as the best Estate Agent in the Canary Islands, for us to then be considered as one of the best five Estate Agents worldwide is icing on the icing, so to speak. We do not expect to win in Las Vegas, but we're very proud to have been nominated.”

UK Property "Overvalued”, Spain Still Cheap

Denmark and Britain have the most overvalued housing markets in Europe and are currently the most vulnerable to price falls, according to a new survey by credit-rating company Fitch Ratings. The agency looked at 16 developed nations and compared rises in house prices with past performance and current household incomes. Its findings state that in both Denmark and the UK the combination of increased consumer debt, higher interest rates and overvalued property, in relation to incomes and rents, could bring economic problems. France was another region where homes were currently considered overvalued in comparison to average incomes in the country, but the market there is not seen as quite as vulnerable. Spain was not ranked highly in terms of risk or vulnerability.

Meanwhile, Mortgage lender Halifax has revealed that house prices in Spain have risen faster than anywhere else in Europe, surpassing even the UK market.

According to their figures, Spain's property prices doubled between 2001 and the end of 2006, and increased by nearly 60 per cent in the past two years alone, compared to a 40 per cent average across the eurozone as a whole.

A large number of the buyers boosting the market in Spain are British, with a recent poll by the Taxpayers Alliance revealing that two in every five people in the UK are seriously considering moving abroad. This is a dramatic increase since last year and the highest since records began in 1991, with over 300,000 leaving in the last year, with Spain one of the most popular destinations.

Despite the massive increase in prices over the past five years, Spain is still one of the cheaper eurozone countries in which to buy property, with prices averaging at £150,200, compared to an average of £187,100 in the UK.

From the 23rd November through the following week, crime story buffs will enjoy the first International Agatha Christie Festival in Puerto de la Cruz. The world's best selling crime writer first came to the island in 1927 and spent her time incessantly writing. The celebration will include a street named in her honour, a bust of the author and an exhibition.



Housing Minister Carmen Chacón said, in an interview, that mortgage interest rates have now reached their peak. This was echoed by Pedro Solbes, Minister for the Economy who said that they will now stabilise, or even fall. This is a breath of fresh air as rates have been rising continually, reaching their highest point in 7 years, although still below UK rates.


The European Court of Justice has ruled that parents should be able to tax deduct school fees if their children go to school in another EU country.


Costa Adeje is hosting a series of Yoga events until the 14th of October. There are all sorts of workshops and the opportunity to gain Yoga diplomas. Find out more at www.yogatenerife.com.

A new four year plan for Los Cristianos was unveiled which includes a new health centre, a central auditorium, located in centre cultural and an administrative building. New plans for the port area will be unveiled next month.

Wingate School will be celebrating its 25 years of existence this year and invite as many of their ex staff and pupils as can make it on Friday November 2nd 8pm-10.30pm in the school theatre for drinks, tapas and reminiscing.