Facelift for Costa del Sol Beaches

The Costa del Sol, one of the pioneers of beach holidays in Europe, is keen to keep its standing as one of Spain’s top tourist destinations and favourite relocation spots. At a time when tourists are tightening their budgets, local and regional authorities recognise that staying at the forefront can only be done by making substantial investment in the area’s main attractions. And the first recipient of the funds are the beaches.

Between them, the Andalusian regional government and the Western Costa del Sol Association of Municipalities have agreed to make a joint investment of €5.6 million in the Costa del Sol’s miles of golden sands. Over a dozen beaches stretching from Torremolinos – the place where package tourism began – to a rising star in residential tourism, Casares, are set to receive a share of the funding.

According to the Head of Tourism in the regional government, Luciano Alonso, the Western Costa del Sol is “undoubtedly Andalusia’s top tourist spot” and the investment will go some of the way to ensure it remains so.

The authorities are quick to point out that the investment is not being made to regenerate the beaches – often necessary after winter storms – but to make them more attractive. Exact improvements vary from one municipality to another – individual councils have prioritised requirements for their own beaches – but will mostly include the upgrading of facilities on the beach such as showers, the building of walkways or the installation of lighting. Some council, such as Fuengirola, will be using the funding to give all the resort’s beaches a facelift and ensure they all look the same.

Work will start during the next few weeks and the Western Costa del Sol’s beaches are expected to be showing the results of their facelift by Easter, one of the busiest times in the resorts. “This investment comes as a welcome boost to tourism in this part of Spain,” says James González, Market Analyst at Obelisk. “Measures like this means the Costa del Sol can maintain its attractiveness among holidaymakers, an essential consideration for buy-to-let investors. And with 2009 showing signs of being ideal for opportunistic buying in Spain, better beaches at some of the best-known resorts make investment in the country more appealing.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge from at http://www.absoluteguideseries.com

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com

A New Look for Obelisk Interiors

As a benchmark in new looks for Spanish homes, Obelisk Interiors website (www.obeliskinteriors.eu) has just had a makeover itself. The completely revamped site offers more products and services to property investors and homeowners.

Although Obelisk Interiors is a relatively young company, it has already established itself as ‘the place to go’ when it comes to furniture packages and interior design for Spanish homes. “We felt that the website needed to reflect the next phase of our business,” explains Lesley, “and communicate to clients our new options for furniture packs, interior design and other services .”

This latest phase to the expansion of Obelisk Interiors includes several highlights. Top of the list are the long-awaited additions to the furniture packs. The new range includes 2 Rental Collections – the Mexican Collection offers typically hacienda-style furniture and the Sorrento Collection brings a touch of sophistication to your buy-to-let. And the good news is that these comprehensive furniture packs start at just €7,995 for a 2-bedroom apartment, proving that fitting out your home in style need not cost a fortune.

True to its maxim of catering for all clients’ tastes and requirements, Obelisk Interiors also offers numerous other furniture packs ranging from the Silver Collection to the Platinum Collection, the ultimate in a bespoke package for the discerning property owner.

Visitors to the new website can view the collections online and download pdf files of the inventories. “The downloadable inventories are an exciting new addition to our website,” Lesley points out, “since now the client can see exactly what a collection includes, which helps them make a decision.”

Another highlight featured on the new look site is Obelisk Interiors expansion to 2 of the most popular areas with foreign buyers in Spain, the Costa Blanca and Murcia. “Last year we were inundated with queries from homeowners in these regions,” says Lesley, “and we’re very pleased to be able to include them in our delivery destinations.” This inclusion of the Costa Blanca and Murcia now means that Obelisk Interiors’ outreach stretches right along the Iberian Peninsula coast from the Algarve in Portugal through the Costa de la Luz, Costa de Sol and Almería up to Alicante province.

The revamped site also offers comprehensive information about Obelisk Interiors’ new property management service available to homeowners on the Costa del Sol. As well as handling rentals and the everyday requirements of a rental property, Obelisk Interiors can deal with any issues that arise in a property from security to internet connections.

Also found on the redesigned site is information about how you can finance your interior makeover from as little as €67 a month and FAQs about Obelisk Interiors. According to Lesley, the Obelisk Interiors team is very pleased with the site’s new look, “we feel it’s an excellent showcase for our services,” says Lesley. Why not take a look and see for yourself?

For information on the new services offered by Obelisk Interiors and how they can make a real difference to your property investment or home, contact Obelisk Interiors on UK freephone 0808 160 0670, Ireland freephone 1800 932 514 or Spain 952 820 319.
Website: www.obeliskinteriors.eu Email: info@obeliskinteriors.eu

Falling Prices Elevate London Property

For years property investors have been searching the world for the “next best thing.” Countries like Spain, Portugal and Morocco have all been overseas property favourites. Romania and Brazil are current favourites and in today’s changing economic climate, the latest addition is the UK. In particular, the luxury property market in London has once again become affordable.

Two recent factors have led to this change – the slide in sterling and decline in property prices. The pound is now worth much less than it was only a year ago. This difference in exchange has meant that foreigners can now enter the London property market for a fraction of what it would have cost them only months ago.

The fall in sterling also means that expatriate Britons who had planned to live out their retirement overseas in locations such as Spain, Cyprus or Portugal suddenly found themselves struggling to make monthly payments on fixed incomes. Many have given up the battle, sold their foreign homes and come back into the British market, armed with strong foreign currencies.

Knight Frank estimates price declines in London have reached 22% on average and there is a good chance that they will fall even further. Combined with the fact that in 2008, the euro has increased 30% against the pound, the US dollar 35% and the Japanese yen 66%, the current discount on London luxury property is a substantial one when compared to only 1 or 2 years ago.

As an illustration of the savings to be had, the Financial Times recently used the example of a London property that was on the market in September 2007 for £3 million. Its present asking price is £2.4 million. However, if the buyer was paying in euros, the original cost of €4.3 million would now be €2.5 million, an overall savings of 30% when the exchange rate is factored in. The same property would offer a 55% savings for the investor dealing in yen.

Therefore, the luxury London property market is again attracting attention from many of those who just a few years ago believed it overpriced. “The recent slide of sterling has created both winners and losers,” said James Gonzalez, Market Analyst at Obelisk, when asked about the phenomenon. “In a way, the UK is re-emerging as a prime luxury market in its own right.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge from at http://www.absoluteguideseries.com

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com

30 New Guides to Overseas Property Investment

As part of an on-going quest to provide the best overseas property investment information to investors, Obelisk has just released its brand new Absolute Guide Series to Overseas Investment.

Available free-of-charge and downloadable from the Absolute Guide Series website, the series aims to be the ultimate investment resource for anyone interested in examining overseas property investment.

The Absolute Guide Series features vital investment information on more than 30 important investment destinations. They have been completely revised and updated and they are produced in full-colour PDF format. The country guides also provide an Obelisk investor star rating for each individual country.

James Gonzalez, Market Analyst at Obelisk, was integral in the preparation of the Absolute Guide Series. “Our country guides represent what Obelisk does best – that is, produce solid, trustworthy research. Our team of expert writers and researchers work tirelessly to make sure the information we collect is of the highest calibre. It is from this research that we base our decisions on where to invest so it has to be right.”

The country guides examine Brazil, Spain, Romania, Russia, India, China and numerous of other locations that are impressing overseas investors. For prospective investors with an interest in overseas property markets, Obelisk’s Absolute Guide Series is the first source they should consult. All are downloadable free-of-charge at http://www.absoluteguideseries.com/

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com/

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com

Obama Preaches Hope in First Presidential Address

Barack Obama was inaugurated as the 44th President of the United States on January 20th. Speaking about many of the difficult challenges that must be faced, President Obama spoke to his nation not only about hope but also about the tough work that lies ahead.

“Today,” the new president stated, “I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America — they will be met.”

Much of President Obama’s discourse was directed at the current economic crisis that has spread from the US to affect much of the financial world. His speech was direct and in many ways, was a call to action for not only Americans but also for the rest of the world.

Rallying the crowd, he said, “The state of the economy calls for action, bold and swift, and we will act — not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.”

An estimated 2 million onlookers endured the freezing temperatures of a January day in Washington to be part of the historical event. Not only is the US in the midst of a recession but it is also preoccupied with two wars and a ballooning deficit that is now predicted to surpass US$1.2 trillion. President Obama’s message was not only one of hope, but also transmitted his unwavering belief in the ability of his country to survive the crisis and emerge from it a stronger, better nation.

He stated, “Now, there are some who question the scale of our ambitions — who suggest that our system cannot tolerate too many big plans. Their memories are short. For they have forgotten what this country has already done; what free men and women can achieve when imagination is joined to common purpose, and necessity to courage.”

James Gonzalez, Market Analyst at Obelisk, sees the inauguration of Obama as a positive event for global financial markets. “With the change in administration, Americans are once again looking with renewed hope to the future. Politics aside, President Obama will hopefully translate into higher investor confidence, in both the US and the rest of the world.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Obelisk also produces its Absolute Guide Series which contains the most recent investment information on 30 of the world’s top emerging markets. They can be downloaded free of charge from at http://www.absoluteguideseries.com

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinvestmentproperty.com

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com

Smaller is better in Bulgaria

In Bulgaria, one of the unforeseen consequences of the global financial crisis is the resurging popularity of small residential complexes. Before the downturn, many investors favoured larger, capital intensive projects built on a huge scale. These developments not only provided excellent return on investment but were of a scale that meant that those involved instantly became high-profile players in the Bulgarian real estate market.

However, with the change in the financial climate, many investors are rethinking their strategies and more modest building projects are once again gaining popularity. “Buildings with a floor space of 3,000 to 5,000 squared metres will be the most in demand this year,” says one Bulgarian property expert. “This is because of the smaller risk,” he added.

Smaller-sized constructions do not need the complex financial arrangements that larger projects demand. By focussing on such projects, small to mid-sized companies have a better chance of obtaining financing otherwise difficult to find in many markets. Smaller projects also allow these companies more independence by not having to enter into multiple partnerships that may expose them to the financial vulnerabilities of their associates.

Where banks were once actively seeking out companies to lend to, many are now hesitant, waiting to see how the current financial situation will unfold. The task of the developer is to best attune himself to the market in a way that affords the most flexibility in a changing financial climate.

James Gonzalez, Market Analyst at Obelisk, finds the trend logical. “In a changing market such as this, for every problem that might arise, so does a new opportunity. It is at times such as these that the most innovative minds come to the forefront. The ability to adjust to changing market conditions is central to successful investing in today’s climate.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Clouds on Spanish Property Market May Have Silver Lining

Along with the UK and Ireland, Spain experienced an unprecedented property boom between 1997 and 2007. Again like the UK and Ireland, property went into freefall in 2008 and (again in common with the UK) the market is not expected to recover until 2010. Yet although recovery is not yet on the horizon for sellers, falling property prices mean that Spain could be back on investor’s radars.

Consult anyone involved in the Spanish property business and all report falls in prices and a slow market. However, exact figures differ widely depending on who is producing the statistics. For example, according to the Spanish Housing Ministry, property prices fell by 3.2% in 2008, the first annual drop since 1993. One of the largest Spanish real estate appraisal companies, TINSA, found year-on-year prices had fallen by 8.8% in December with the biggest decreases seen on the Mediterranean coasts (-14.3%) and the islands (-9%). Developers claim properties have lost considerably more over the last 12 months and some cite figures as high as 20%.

Whatever the exact statistics though, the ‘for sale’ signs decorating most façades in Spain, the closures of estate agents and the fact that several major developers have recently gone bust are sure signs that the property market is suffering. The National Institute of Statistics found that the number of sales made in November registered a year-on-year decrease of over 21%.

But while the storm clouds are gathering thick and fast for sellers, the same clouds may well have a silver lining for the buyer. For the first time in years, bargains have now made an appearance on the Spanish property scene and many sellers are more than happy to consider an offer. €50,000 price slashes are reportedly commonplace at the lower end of the market with €1 million coming off properties at the very high end of the luxury market.

Most experts believe that 2009 is the time to buy and many claim that recovery is probable in 2010. As James González, Market Analyst at Obelisk, points out, “Spain might have an oversupply of property, particularly cookie-cutter 2-bedroom apartments, but the country offers 3 factors that mean recovery for property is almost a given”. According to James, Spain’s ticket to property market improvement comes from the weather – on most of the Mediterranean costas and the islands it is second to none in Europe, its easy accessibility and the high quality of life, which ensures that Spain remains one of the world’s top relocation and retirement destinations.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Brazil’s President Looks to the Future

Brazilian president Lula Inácio da Silva recently gave the world an insight into his vision for the future in The Economist. President of one of the world’s most important emerging economies, Lula da Silva is also rapidly becoming one of its most influential leaders. When President Lula da Silva speaks, more and more people around the world are listening.

Lula da Silva was originally elected on his promise to eliminate hunger in Brazil. This fight remains central to his political character and as president, he has met with some notable success. During the 6 years of his administration, the number of poor in Brazil has been cut in half. Also, for the first time in history, the middle class is now the majority, with 52% of the population reaching this economic plateau.

Even though he understands that there is a long way to go in the battle against poverty, Lula da Silva believes that the changes made in his country have been important ones. “Brazil,” he states, “has never been in a better position to meet the challenges ahead and is fully aware of its growing global responsibilities.”

Brazil’s global responsibilities are something that Lula da Silva takes very seriously. Looking far beyond his borders, he is working to share Brazil’s knowledge with other emerging nations in an attempt to help them help themselves. Partnerships have been established between Brazil and other nations that want to develop ethanol and biodiesel programmes along the Brazilian model which does not create additional pressures on the food supply. A successful, low-cost Brazilian anti-AIDS programme is also being transferred to Mozambique where the disease is an epidemic.

But perhaps the greatest aim of Lula da Silva is to make the global decision-making process more inclusive and involve more countries, breaking away from the western leadership model. “Greater democracy in international decision-making is essential if truly effective answers to global challenges are to be found. The magnitude of the current financial crisis requires a vigorous response from the multilateral institutions,” Lula da Silva said.

To these ends, Lula da Silva is pressing for a greater role for his fellow BRIC countries (Russia, India and China) in the new world order and has also formed the Union of South American Nations (UNASUL) as a way to provide a coherent continental energy plan, defence council and development bank for the region.

Da Silva has heard the predictions that his country will be among the global superpowers in the coming decades; he already appears to be laying the groundwork for the future.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

European Luxury Market Still Hot

With all the talk of the global economic slowdown, one section of the overseas property market continues to show great resiliency in the face of negative market pressures. That sector is the luxury property sector.

European luxury property deals with a number of well-known, traditional locations throughout the continent where it costs between €1 million and €125 million to purchase mansions and homes and at least €750,000 for exclusive apartments.

Among the most popular areas for the wealthy to purchase are the Greater Zurich Area and Geneva in Switzerland, the Côte d’Azur/Provence area in France, and the Balearics and the Marbella area in Spain. Purchasers in these areas can easily encounter the high standards and infrastructure to which they are accustomed while also encountering other people of like minds and means.

The purchases of luxury properties are often unaffected by the present financial crisis and its accompanying tightening of credit. Quite often, those who purchase luxury estates do so without the need of external financing or mortgages. This means that purchases can be made quickly and even on impulse and at times, the luxury property market can be fuelled more by emotion than sound market decisions. No matter what the motivation, luxury home sales have been the only bright spot in many property markets.

Exactly where the rich are choosing to invest is often subject to changes in fashion. For example, the south of France has been extremely popular as a destination for the very rich but lately, areas like Zurich and Marbella have gained in popularity of late due to their lower crime rates, better airline connections and the ability to make new business contacts while at the second home.

Russians still top the list as buyers of luxury properties. They are attracted to the relative safety of property investment, especially when compared to stock markets or in some cases, even banks. Even more significantly, their overseas investments are increasingly being made outside Europe at places like Obelisk’s Laguna Beach development in north east Brazil.

James Gonzalez, Market Analyst at Obelisk, states, “The number of European investors who have shown interest in Laguna has been remarkable, not only for the numbers but also for the variety. The traditional UK and Irish buyers are also being joined by Russians, French and Germans. It is an encouraging market development.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

China “Succeeds” in Offsetting Crisis

Chinese leaders are claiming “initial success” at overcoming the problems brought on by the economic recession that is affecting much of the world. In a statement released on Sunday, Premier Wen Jiabao reported that the Chinese economy performed better than expected during last month, which was some welcomed news, not only for China but also the rest of the world.

Premier Wen made the speech during a 3-day visit to industrial regions of eastern China. He claimed that sales of some companies had begun to rebound. Inventories are beginning to decrease while electrical consumption is rising.

“We have achieved initial success from the policies we adopted to counter the financial crisis,” the premier said, according to China National Radio.

The premier also vowed that the government will continue to take other measures to combat the economic downturn. This is to include making large or accelerated investments in totalling CNY600 billion in 6 projects already identified of being of scientific or technical value over the medium to long term.

It was recently reported by the Dow Jones that Chinese exports fell 2.8 per cent in December. Official figures have not yet been released. Because imports also fell, many believe fear that the country is not only being affected by the global economic slowdown but also by a weakening of internal demand.

James Gonzalez, Market Analyst at Obelisk, finds the efforts made by the Chinese central government reassuring for overseas investors. “It appears most of the world is in agreement that the way to best exit the global downturn is to confront it head-on and I’m glad to see that the Chinese leadership is also in accord.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Building BRICs

As we enter 2009 and hope for a better year than 2008, in some corners of the world there are reasons to be optimistic. In 4 corners to be exact – Brazil, Russia, India and China, the so-called BRIC nations.

During the coming year, the BRIC countries are expected to account for a lion’s share of the world’s economic growth even though global GDP growth figures for 2009 do not make happy reading. The ‘father’ of the BRIC term, Goldman Sachs, has predicted that the world’s economy will grow by just 0.6% this year. The Financial Times (FT) expects advanced economies to decline by 1.2% in 2009 and predicts that most of the 0.6% growth will come from the BRIC nations whose combined projected growth is forecast to be 4.7%, nearly 8 times larger.

But it is not just 2009 that looks promising for the BRIC countries. According to the FT, GDP growth in the BRIC economies in 2010 will steam up to 7.2%, again well ahead of advanced economies, which are expected to see an increase of around 1.2%. If these forecasts are correct, by the end of next year, the BRIC nations will have been at the forefront of global expansion for 3 consecutive years.

What is more, the FT believes that it is highly likely that by 2035, Brazil, Russia, India and China will be collectively bigger than the G7, which includes the traditionally huge economic powers of France, Germany, the UK and the US.

The G7 currently does not include any BRIC countries, although all 4 are members of the G20 club, home to both advanced and emerging economies. The strength of the BRIC economies has led many political and economic analysts to call for the G20 to become the world’s forum for policymaking.

Brazil’s President, Luiz Inácio Lula da Silva, certainly agrees. Speaking at the São Paulo summit for G20 finance ministers and central bank governors in November last year, Lula called for a reform of global financial institutions and for the International Monetary Fund to be restructured to reflect the importance of developing economies.

Lula is not alone. Soon to be sworn-in President Obama is well known to be an advocate of calling on G20 members for global decision making. “I think we can expect to see the BRIC nations, particularly Brazil with its charismatic president, taking a front seat this year,” predicts James González, Market Analyst at Obelisk. “The BRIC economies are definitely the ones to watch – and in invest in – during 2009.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

New VAT Coming to UAE

The 7 emirates that make up the United Arab Emirates (UAE) are traditionally one of the world’s tax havens – for example, no personal income tax is levied in any of the emirates – but this is set to change slightly in early 2010, the date the UAE has earmarked for the introduction of VAT.

VAT is charged on goods and services in many nations and is an accepted form of alternative income. For example, all the EU countries charge VAT at rates that range from the lowest rate of 15% in Cyprus and the UK, and its highest rate, 25%, in Denmark.

However, the UAE has plans for a considerably lower rate for its new VAT. It will be levied at just 5%, the same rate as the current customs duty already levied on some goods in the emirates. Unlike customs duty though, VAT will be charged on all goods and services, meaning it will be a much broader tax.

This low rate of VAT has several advantages for consumers and businesses. The UAE is currently one of the world’s most appealing business locations and analysts believe that the introduction of a low-rate VAT will not change this since the emirates will continue to be a highly attractive low-tax destination. In any case, VAT is generally perceived by business as a more business-friendly tax than corporate or personal income tax.

The transition period before VAT is introduced will be used by businesses and officials in the UAE to acquaint themselves with VAT regulations and procedures, particularly VAT registration. UAE officials do not believe that the introduction of VAT will lead to a significant increase in inflation in the UAE, which currently has a rate of around 13.5%. The Economist predicts a considerably lower rate of 9% in 2010 when VAT is due to be implemented.

Financial experts believe that once the UAE introduces VAT it will not be long before other Gulf Cooperation Council members such as Bahrain, Qatar and Saudi Arabia follow suit.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Thailand May Become a Retirees’ Paradise

Thailand has long been a tropical holiday hotspot and in recent years, the country has also become a property investment destination. Like many other countries, Thailand has started to feel the effects of the current economic downturn and in light of this, developers are having to look for new ways of tackling property investment. Some innovative companies have found success by dealing with a relatively new market, one that caters to the specific needs of European retirees.

When people think of property in Thailand, the names of Phuket, Pattaya and Samui usually come to mind as well-established regions that cater to overseas investors. However, this new market involves retirement developments located in non-tourist areas.

Developer Paul Derstroff is finding that, although a large amount of building is still going on in Thailand, developments aimed at servicing a specific market seem to be better at withstanding the difficult times. “An increasing number of projects have made the market more competitive. However, our developments don’t compete with these projects,” says Paul. “We are concentrating on a target group in a niche market made up of buyers who want to move to Thailand.”

Much of the attractiveness of these types of developments lies in the flexibility of the terms offered. Developers not only offer leasehold houses and condominiums but some developers also sell condominiums on a shared ownership basis. “Some people don’t live here all year round so 2 people can purchase a property jointly and share ownership,” Paul says.

Thailand is attractive to many European retirees not only because of its climate and exotic lifestyle, but also because Thai living costs are a fraction of those in Europe, a major consideration for people on fixed pensions or incomes. However, interest in Thailand as a retirement option is not only coming from Europeans. There are also enquiries from people in Japan and the Middle East, and some companies have started marketing developments in Hong Kong and Singapore.

James Gonzalez, Market Analyst at Obelisk, sees this Thai phenomenon as a logical adjustment to changing economic circumstances. “Retirees are looking for the best value for money and developers are looking at guaranteeing the success of their ventures. Providing products specifically aimed at the rapidly growing retiree market makes smart business in any economic environment and not only during a downturn.”

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Emil Boc Confirmed as Romania’s Prime Minister

Romania took another important step towards a seamless transition of power when Prime Minister Delegate, Emil Boc, was validated through a vote of confidence by the Romanian Parliament on the 22nd December, 2008.

Romania’s parliamentary elections were held in November 2008 and the result gave Boc’s Democratic Liberal Party (PD-L) a slight lead over the second place Social Democratic Party (PSD), while the ruling National Democratic Party (PNL) finished a distant third.

Because no single party won an outright majority, President Traian Basescu was called upon to name a prime minister, as dictated by the country’s constitution. Basescu originally nominated Theodor Stolojan but Stolojan later refused the post for personal reasons and the president nominated Boc. Boc was not only president of the PD-L but until recently, was also mayor of the Transylvanian city of Cluj-Napoca.

While mayor of Cluj-Napoca, one of Romania’s fastest growing economic centres, Boc was very popular with Romanians and foreign investors alike. James Gonzalez, Market Analyst at Obelisk, has met Prime Minister Boc on numerous occasions and believes that he is an excellent choice to lead Romania during today’s economic times. “During our discussions, I found Emil Boc to be an intelligent, driven leader who not only understands the needs of Romanians but also the importance of reliable foreign investment. I couldn’t think of a better person to assume the prime ministerial role.”

Boc now heads a government comprising of the two largest parties in Romania. His validation by parliament means that the country will have a stable coalition government until the next elections, which are scheduled for 2012.

For more information on overseas property investment and to find out about Obelisk's latest projects, contact Obelisk free on 0808 160 0670 (UK) or 1800 932 514 (IRE).

Email: info@obeliskinternational.com or visit our website: http://www.obeliskinternational.com./

For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.

Golden Boy Receives Knighthood

Four-times Olympic gold medallist, Chris Hoy, began 2009 as Sir Chris Hoy when the UK’s Golden Boy of the 2008 Beijing Olympics was knighted in the New Year honour list.

Sir Chris is the first British athlete to win 3 gold medals at a single Olympics since boxer Henry Taylor in 1908. He has also become the most successful male cyclist in Olympic history and his success has propelled both the sport of cycling and Sir Chris into the public spotlight.

Sir Chris led the New Year honours list of outstanding Britons as Buckingham Palace recognised their outstanding contributions in many different fields of endeavour. "To become a knight from riding your bike, it's mad," said the visibly ecstatic Sir Chris. "It feels a bit strange to be honest. I still can't quite believe it.”

But perhaps the honour was even made sweeter by the fact that Sir Chris was not the only member of his family to be acknowledged in the New Year’s honours. His mother, Carol, was made a Member of the Order of the British Empire (MBE). A retired nurse, she was recognised for her pioneering work on sleep-related illnesses.

With his new-found fame and the financial benefits that accompany it, Sir Chris, 32, recently chose to invest with Obelisk at the landmark project in north east Brazil, Laguna Beach. Purchased as an investment property, Sir Chris also hopes to use his home as a winter training centre as he continues to pursue excellence in his sport.

Along with Sir Chris, other notable sports personalities to be honoured were Formula One driving sensation, Lewis Hamilton (MBE) and double gold medallist, swimmer Rebecca Adlington (OBE).

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For press enquires, please contact Obelisk’s marketing department on (+34) 952 820 319 or email press@obeliskinternational.com.