Welcome to February´s edition of our newsletter, and what a busy month it is... lucky it has 29 days this year! The carnival is the hot topic of the moment, for anyone who wants to get a real taste of the island´s personality. But in our first article, we take a look at the Med, where changing weather patterns are predicted to have some devastating effects, some of which have started already. Lloyds Bank are moving south, and are offering a fantastic mortgage deal to make their presence known here. It´s a limited period offer, but if you are considering a purchase this one is really worth grabbing while you can: it will save you thousands! We also continue our series about relocating to Tenerife by looking at the practicalities of healthcare, one of the subjects that we get asked most questions about. And lastly we look at the progress of Royal Marina Golf, with still a few prime units left, but not for long!
And of course, as usual we bring you the islands most interesting news clippings and the best in this month´s property... we hope you enjoy it!
Water, Water Everywhere...
The level of the Mediterranean Sea on the Spanish coast rose on average from 4 to 16 centimetres between 1990 and 2005. Experts on climate change have predicted that sea levels on the Spanish Mediterranean could rise anywhere between 25 centimetres up to half a metre over the next 50 years if current forecasts on the rise in temperature are accurate. The effects of these changes, which are well underway, are already taking their toll on some industries; with tourism and the second home market next in line.
According to the Spanish Institute for Oceanography the rising sea levels in the Mediterranean fulfil current predictions for worst case scenarios. The consequences for lower coastal areas on the Mediterranean would be very serious and if sea levels were to rise by half a metre which is the maximum predicted then this would have catastrophic results.
The Med´s water temperature and salinity rose by worrying levels. This will affect the entire ecology of the sea; with many species becoming extinct in the Mediterranean as algae rapidly continues its take over of once clear waters.
The results concur with those of other scientific bodies all over the Med, but it is not just the scientists who worry. Blighted fishing industries that once served the tourist industries are a shadow of their former selves as fish stocks continue to deplete. The thriving tourist industries that once dined on their catches look like they too have a gloomy future.
The near future threatens erosion and the submersion of beaches, natural habitats and historical sites; a grave concern for local economies who rely on tourism. Affected, too are the many second home markets around the Med, from Turkey to the Costas the industries are losing their war to hush up the grim prospects. In many cases homes sold in these `holiday paradises´ may be uninhabitable even before the mortgages are paid on them. In others they may be rendered almost worthless as the attractions that lured the buyers there either find themselves under water or dried up.
Drying up is one of the first problems to have hit the Med resorts. Popular resorts such as Cyprus barely made it through the summer of 2007 on the lowest reserves of water for decades. It is not just local greens who are pulling their hair out in frustration at myopic planners who continue to grant licenses for ever more water grabbing golf courses. Mainland Spain has also been suffering from this desertification, hitting traditional agricultural industries.
The future of the Mediterranean coastal areas is well summed up by a verse of Coleridge´s 1794 poem, "Rime of the Ancient Mariner":
Water, water, everywhere,
And all the boards did shrink;
Water, water, everywhere,
Nor any drop to drink.
Owners in Tenerife can breathe a sigh of relief, as experts predict that the island will be one of the least affected areas by climate change, even in worst case scenarios.
Lloyds Aim to Capture Market with fantastic new mortgage terms!
Lloyds Bank has put together a great new mortgage package for non-residents, offering 80% financing with interest only repayments! This is a greater loan to value amount than almost any other lender, and it is an aggressive move to try to capture a slice of south Tenerife´s mortgage market.
The bank is soon to open a branch in Fañabé and this limited offer is aimed to tempt British borrowers in the South so that the Lloyds become rapidly established as a name here. The Bank emphasise that the offer is for a limited time only, so if you want to benefit from a fantastic interest only mortgage, at a cheap interest rate with repayment levels that will bring a smile to your face, fill in the mortgage prequalification form on our website and see how much you can save!
http://www.tenerifepropertyshop.com/mortgage/
Carnival is Here!
The streets of Santa Cruz will be alive with good natured mayhem as the city kicks off the carnival season with the biggest and best of them all. The fiesta opened on the 30th of January with the election of the Carnival Queen: An amazing gala with hundreds of colourful performers and incredible costumes.
But to get to this point has taken months of preparation and thousands of hours of hard work. Costumes have been meticulously designed and made, bands have been practicing up and down the island, and there have been weeks of competitive heats to establish the finalists: queens, Comparsas, Rondallas and Murgas (dance groups, comic groups and singing groups) have all been vying for their place in the extravaganza.
After the 2008 Carnival Queen has been elected, the next big event is on Friday 5th February, when the city streets fill with thousands of revellers watching and participating in the spectacular opening procession and the party goes on through the night! The party continues night after night with a climax the following Tuesday with a wild parade known as `El Coso´. Extravagant (and often skimpy) costumes glitter and the air is filled with music from Latin America, Europe and Africa. It is a spectacle not to be missed! The last event is on Ash Wednesday, when they `bury the sardine´, which signals the end of Santa Cruz´s carnival. This extraordinary `funeral´ procession of costumed mourners is hilarious - general hysteria, wailing and over the top `grieving´ are the order of the day as the crowd commiserates the end of the carnival. However, all is not lost as within a few days all the revellers move to the next town in the carnival calendar!
There´s still time to book a last minute flight to enjoy the spectacle, so don´t delay!
Tenerife: the best value Canary Island
Award winning Spanish property portal, Kyero.com revealed that moderate price drops were seen on most Canary Islands apart from Tenerife which saw a respectable 7.5% increase in 2007 rising from 203,000 euros to 219,500 euros. Lanzarote, the fourth largest island, remains the most expensive with prices averaging 312,000 euros, 27% above the national average of 245,000 euros. Fuerteventura recorded an average price drop of 9.2% in 2007, due to massive oversupply of the market.
Kyero recommend that, "For bargain hunters, Tenerife, the largest island and home to the co-capital Santa Cruz de Tenerife, has always offered property well below the national average. 2007 did indeed see a marked price increase however property still remains affordable... 15% below the national average in Jan 08".
Healthcare in Tenerife
One of the biggest areas of concern for any potential expatriate is healthcare. Many of us who move here are retired, or semi retired, which is a time of life when healthcare becomes even more of an issue.
A few people who move to Tenerife adopt an ostrich-like approach to healthcare. Burying their heads in the sand, they only find out about healthcare when it is too late: when something goes wrong! Not only is this an expensive way to learn a lesson, but it is potentially dangerous and can shatter your dreams of a new life.
There are three ways to qualify for free public healthcare:
1. SEMI- RESIDENT / REGULAR VISITOR
If you qualify for healthcare in your own country (UK, Ireland) and you are not a full time resident in Tenerife, then you can complete a form E11 (available from your own health service) and get a European Health Insurance Card (EHIC). Have this available with you when you go to a public medical centre (Centro de Salud) or hospital and your treatment will be free.
THE E11 European Health Card is for Emergencies ONLY
It is NOT for chronic (ongoing) illnesses, although it can be used if, for example, you run out of your regular medicines and need a new prescription. It is not a replacement for the type of healthcare you may need if you are a resident.
2. PERMANENT RESIDENT (RETIRED)
If you are retiring in Tenerife have been receiving your pension from the UK, you can qualify for free healthcare, but you will need to inform the Department of Work and Pensions (DWP) before you leave home. They will issue you with E121 form in duplicate. After registering your residency correctly, you will need to take all your registration paperwork and your E121 to the Seguridad Social office. It is a bit of a paper-chase, as is all Spanish bureaucracy, so many people employ the services of a Gestor to help them.
3. PERMANENT RESIDENT (NOT WORKING IN TENERIFE)
If you do not classify as a UK State pensioner, you may still qualify for health care cover from the UK in Tenerife for yourself, and for any members of your family who depend on you and who go with you, for a limited time only based on the payment of National Insurance contributions for the two years prior to your departure. How long it lasts will vary, and you should contact the DWP before moving to Spain to ask whether you qualify for form E106. Once obtained, form E106 should be given to the Seguridad Social, just like the E121 above.
4. WORKING IN TENERIFE
If you are working in Tenerife and paying your Social Security contributions, then you qualify for State healthcare.
Once in the system, you will be surprised at the efficiency of things like regular call-ups for blood pressure and other health related checks that often get missed in some countries. The Canarian health system is seen by many as superior to that of the UK and by others as inferior. In truth, it has its strengths and weaknesses. For example with emergency care, almost everyone would agree the system is impressive. Like any public health system, it is short of funding, and that means queues and waiting lists. Many expats will avoid these by taking out private health insurance.
Some foreigners feel more comfortable with private insurance in addition to the public one, because they like to choose their medic and hospital. There are a number of private Spanish or foreign health insurances offered to the foreigners in Spain. If you would like us to recommend a health insurance, just email us at
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As building of this new development has progressed to the construction of the roof level, we have all become increasingly impressed with the views from the two bedroom apartments in Royal Marina Golf. If you are in Tenerife soon, make some time to have a look from the site, and you´ll see what we mean: gorgeous views of the ocean, a fabulous place to watch the boats come and go from the marina and sunsets that will make you melt with their sheer beauty.
Set in the midst of a golf course, the complex will have an attractive pool area surrounded by landscaped gardens. There are only 51 two bedroom apartments, but over half have been sold in the early stages of construction, and there are still some units remaining in prime positions. It´s proximity to the marina, ocean and golf course are perfect, and their value for money inescapable as we see two bedroom apartments in the area now being marketed at over a hundred thousand Euros more!
Prices here start from only 262,500 euros... incredible value for money when you consider the quality of materials being used. If you´d like to know more, arrange a viewing or request the specification list, then just email us at
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News Cuttings
Low Cost Air Travel Booming
In December 3.9 million passengers arrived in the Spanish airports, of whom 41.7% did so on a low-cost airline. This represented a 35.4% increase over the same month last year, by contrast traditional companies transported fewer passengers than in 2006 (4.3%). For the full year 2007, low cost operators have carried nearly 24 million passengers, 40% of the total, experiencing a growth relative to the entire year 2006 of 34%. Catalonia, the Balearic Islands, the Canary Islands and Andalusia were communities that recorded higher foreign tourist arrivals in the year 2007.
Tenerife Airport to unveil new Terminal
The new departure terminal at Tenerife´s Southern airport is due to open this summer according to the airport authority. The new terminal, which has been in construction since 2005, will increase the airport´s capacity by almost 50%. The next part of the 936 million Euro airport plans which include the construction of a new runway, routing planes away from their current flight path when landing or taking off.
Tenerife´s Twin Visits
Tenerife´s twin, Miami Dade County, Florida recently sent a delegation to further strengthen links between the two areas. There are over half a million descendants of Canary Islanders residing in Miami, and 60% of the population is Hispanic. One of the many initiatives being planned is an airline / cruise line where tourists would fly from Miami to Tenerife, spend a week or two here and return by cruise ship. Miami is the largest cruise ship port in the world.
