offshore-finances.com

Spain has been hailed as an ideal place to be looking to buy a property for lifestyle purposes, but not for investment.

The distinction was explained by chief executive of property investment firm Assetz Stuart Law, who said that oversupply and falling prices made taking on a Spanish home as an investment a "difficult" venture to succeed in at present.

However, he said, the opposite applies to lifestyle purchasers moving abroad to Spain.

"The very problem that would cause an issue to an investor is what is helping push prices down. There is massive choice and also some very good pricing," he stated.

He stated that Britons continue to choose the country due to attributes such as its proximity to Britain, sandy beaches and sunny climate.

Spanish property portal Kyero.com recently noted that the number of transactions in the market there has rose to its highest point this year in July.

The National Institute of Statistics has been recording a gradual upward trend since the sector reached its lowest point in April.

Written by Andy Price

The trend for US existing home sales is still upwards, despite a small drop in August, it has been stated.

The National Association of Realtors (Nar) revealed that there was a 2.7 per cent dip in the number of such sales between July and August, ending a four-month run of increases that constituted a 15.2 per cent rise.

However, the long-term trend remained positive, with the tally of 5.1 million units sold in the month exceeding the August 2008 total of 4.93 million.

The dollar savings being made by some through the introduction of a new buyer incentive as part of the economic stimulus is part of the reason for the positive trend, Nar’s chief economist Lawrence Yun commented.

"The first-time buyer tax credit is having the intended impact of bringing buyers into the market, allowing them to take advantage of very favourable affordability conditions."

Chief executive of overseas property portal Homesgofast.com Nicholas Marr recently said the US property market is offering "superb opportunities" for buyers.

Written by Charles Mackay

Australia is seeing a population boom that will enable it to see house prices rise and its economy grow, it has been stated.

The country saw the highest increase in the total number of people living there of any major developed country in the year to March 2009, Reuters reports.

Official figures revealed this was caused both by immigration and a higher birthrate than is normal in industrialised nations.

At such a speed of increase, there could be a 60 per cent increase in four decades, something CommSec chief economist James Craig said could have many benefits.

He remarked: "More people translates to increased spending and demand for homes, and as a result, increased momentum for our economy."

Australia was recently revealed to be a favourite destination for Britons keen to get a job overseas.

Money exchange firm Foreign Currency Direct established in a poll that 20 per cent of those looking to work abroad saw the country as their first choice.

Written by Chris Moore

The Algarve offers the warmth of summer long after autumn has set in over the rest of Europe, it has been suggested.

In a feature on the Portuguese region, the Daily Telegraph stated that while the days get darker and colder elsewhere, September and October remain times when it is warm enough to be reminiscent of summer.

These months have average temperatures of 26C and 22C respectively, it noted.

Such warmth makes these good places for an autumn holiday, the paper commented.

However, those moving abroad could get the benefit of regular warmer weather in the region all through the year.

Another good reason to buy in Portugal may be a boost to property values through the creation of better transport infrastructure, particularly around Lisbon.

Spain’s new high-speed rail network is set to be extended to the Portuguese capital, although its continuation looks to depend on the outcome of the imminent Portuguese general election.

Prime minister Jose Socrates has said this will still go ahead if the Socialists stay in office, while opposition Social Democrat leader Manuela Ferreira Leite has pledged to shelve the plan.

Written by Tom Britten

Many of those exchanging sterling into currencies other than the euro do not undertake the offshore financial planning that they should, it has been stated.

Chief executive at foreign exchange firm chief executive at FairFX.com Stephen Heath said that many people are unaware of the cost of goods and services in many other countries and will not know if they are getting the best deal or not.

Noting that the fall in the value of the euro has led many to avoid the eurozone for holidays, he said: "People have looked at other destinations like Turkey and Egypt and have less knowledge about the currencies in those countries and the value of those."

Mr Heath stated it was important that people did their research, advice aimed at those going on holiday but which may be even more relevant to those moving abroad to such countries, where a larger number of transactions may take place.

The pound has fallen further against the euro this week, a situation widely attributed by comments by Bank of England governor Mervyn King that a weak pound is good news because it helps boost exports.

Written by Jamie Musk

In the aftermath of the G20 meeting it seems that policy makers are still clearly disturbed about the state of exchange rates. In the last few days we have heard choirs of high profile complaints against currency strength. With the EURCHF trading around the 1.5100 level, markets should be focused on the recent SNB comments, which forcefully defend action (not a “beggar-thy-neighbor” strategy) while staying committed to their current interventionist policy. In Canada, BoC Governor Carney … [visit site to read more]

This chart shows just how low volumes have gotten.  It’s the Total Volume on NYSE.  It shows that yesterday’s volume was just barely above the holiday volume recorded during the Christmas week in 2008.  Now that’s low volume.  It suggests that something has got to change.  The market is not facilitating trade at these levels. Everyone knows it’s a joke and that it’s artificial.

Take the market down to 850 levels and let’s get back to business…..OK … [visit site to read more]

In order to replenish the declining fund of the Federal Deposit Insurance Corporation (FDIC) that insures regular deposit accounts when banks fail, the agency may ask U.S. banks to prepay fees for three years.

Under the plan, banks would have to prepay their insurance premiums of $12 billion a year for 2010-2012, for a total of about $36 billion. The fees could, however, vary somewhat according to growth in total insured deposits. The FDIC board will discuss the issue today at its … [visit site to read more]

China Unicom also advised iPhones will be sold in China beginning in October. Meanwhile, Apple (AAPL) said iTunes’ application downloads exceeded the 2 billion mark
MBIA’s (MBI) main bond insurance unit was downgraded by S&P to non-investment grade status
Dell (DELL) revealed a new, high-end, ultra thin PC
Cameron International (CAM) reported a $500 million subsea equipment deal with Petrobras
Howard Shultz, CEO of Starbucks (SBUX), offered high hopes for its Via … [visit site to read more]

I had no further comments on my core markets this AM since my posting last night. Instead, I looked to see what trading opportunities there are elsewhere.

I slapped my technical indicators on a number of currency pairs and came up with a EUR/CAD trade idea. We used bollinger Bands on a 2 hour candle chart, and I added two hand-drawn lines. The first (in red) was the upward trend that was broken (and therefore should become resistance on the way back up). The second (in blue) is a … [visit site to read more]