Mega overhaul of ‘Europe’s deadliest road’ starts this month

2/5/2009

Once notorious for being one of Europe’s deadliest and most dangerous roads, the EN125 has long been the subject of sporadic safety work and improvements. However, as of May, the road, which crosses the Algarve from one end to the other, is to undergo a huge overhaul in an attempt to dispel its less favourable reputation once and for all.

This week Prime Minister José Sócrates officially launched a public tender to determine which company will be responsible for carrying out the work, which will commence in May.

It is hoped that the overhaul will reduce the loss of life on the regional road by 35 percent.

Between 1998 and 2007, 290 people died on the EN125. And despite an improvement in statistics having been documented in 2008, during the first quarter of this year ten people have already died on the stretch, two more than during the same period last year.

Overall the regional upgrade, which will cover 273 kilometres of road in total, nearly 30 kilometres of which will be new roads, is hoped to take no longer than three years to complete and will include the construction of 64 roundabouts to replace the current crossings, which are the road’s ‘blackest’ spots.

Four new access roads and service areas are also included in the project.

Prime Minister Sócrates described the plan as a “strategic intervention” that represents an investment in road safety and said “This is also an investment in the Algarve’s economy, which is crucial in the area of tourism”.

“It wasn’t done earlier, but it is being done now. Now is the right time as the economy needs it and it is a good way to combat the crisis”, he added.

Public Works Minister Mário Lino underlined the project was “fundamental” to the Algarve.

“We have a new challenge, which is to have major works going on in May, but it will bring employment to many people. More than one thousand workers and 40 companies are waiting for this project to begin”, elaborated Minster Lino.

He guaranteed the region that until the works are complete, no tolls will be implemented on the A22 – Via do Infante.

“At this moment the EN125 is not an alternative to the A22. And while the Government argues, as a rule, that motorways should incur usage charges, there must be positive discrimination”.

Named the ‘Algarve Litoral’, the ‘new’ road will cost €280 million, €129 million of which will be regained.

 

Source The Portugal News

And how is your crisis today?

 

 

 

PS - All of the above available within a 15 minutes’ drive

The recession from within a sunny and warm country with all facilities on the doorstep is not too bad in comparison to most Northern countries…

If you are still thinking of investing or moving to Portugal now is THE time to start moving, as the good deals are drying up!

Technorati Tags: property deals,algarve,discount property,discounted property,villa cheap,deals algarve,real estate algarve

The Luxury real estate market in Algarve (April 09)

The Algarve, located in the Western tip of Europe enjoys a warm and mild climate all year round within 2,5 to 3 hours from all main capitals in Europe. With many low budget airlines offering tickets cheaper than a take away pizza, new markets are opening up replacing the traditional customers of the Algarve.

With more direct flights to Eastern Europe and Russia new clients are attracted to what the Algarve has to offer. The UK and Irish were the main motors behind the tourism and real estate market for the last years. With the Euro-Pound exchange not being at his best for the last year or so, many UK buyers are waiting for it to go up. The mass of potential buyers aren’t realizing that savvy UK investors alongside Dutch, Russian, Belgium and Scandinavian buyers have been picking up the good deals already!

UK vendors who move back to the UK can afford to drop their prices with 15-25% due to the exchange rate, but with the pound creeping up, the discounts given will get smaller and smaller. We have seen this happening already! With the panic out of the market and some light points at the end of the ‘recession tunnel’ it is a good time to act. Whilst 2008 presented far better deals on the villa market than so far in 2009, there are still deals to be made, but already less attractive than 6-10 months ago.

The market has been and still is holding up fairly well, due to strict construction legislation which has forced Portugal into building quality versus quantity (unlike what neighbouring Spain has done!).

A new type of buyer born by the recession are investors uncomfortable to let their money sit in a bank account costing money. Stock markets have collapsed with investors having lost 20-80% of their capital. Bank interest is so low that it hardly keeps up with inflation and it is almost costing more money to leave it in an account. Investors have been buying real estate this year for that reason. Some of our clients have bought and are buying properties in various countries, as they feel it is time to pick up the deals which give them a better return on investment, and in addition, the money is safer in property than with the banks.

Although we still have a long time to go until full recovery, looking at the economical indicators, we seem to heading towards the end of the hard times. As a result, the appetite of buyers snooping up good deals is increasing, but fewer vendors seem to be willing to negotiate large discounts on their properties. So time is running out! Now is the time to act!

If you are serious about investing abroad in real estate, have property enquiries or would like to know of special deals and sunny offers, you can contact us at the numbers mentioned below.

We are here to make it happen for you! 7 days a week!

www.ExclusiveAlgarveVillas.com

www.BuyPropertyAlgarve.com

www.BuyPropertyPortugal.com

Rua Ernesto Cabrita, Edificio Vales, Loja –A, 8400 387 Lagoa - Algarve - Portugal
Tel.: +351 282 353 019 · Mobile: +351 918 024 082

E-mail: info@eavillas.com

Algarve Motor Park looks to attract luxury tourists

18/4/2009

Portimão will be opening three new five star hotels by 2010 as the Algarve MotorPark will be generating demand for luxury accommodation in the region.

The first hotel to open will be the Radisson Portimão, a debut for the international chain of luxury hotels in this region. It is being built alongside the race track, with adaptations to suit all events. The resort will have 192 rooms and 160 apartments: “The resort intends to compliment the circuit and the soon to be built technological park” said Paulo Pinheiro. The director of Parkalgar added that five star hotels are now in demand as racing teams always choose to stay at luxury hotels: “Any race event occupies, at least, one thousand bedrooms during a week with drivers and teams, and they always request five stars.”

It has been four decades since a luxury hotel has been built in Portimão, but, since the construction of the Algarve MotorPark, several investment proposals have been put forward to the Council.

 

More information about the properties on www.motorparkalgarve.com or www.buypropertyportugal.com

to receive the investorfile please email to info@eavillas.com or call drect +351 282 353 019

 

source the portugal news

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Algarve coping well with crisis

Easter in Algarve 70 percent booked
11/4/2009

A positive outlook regarding Easter Holidays in the Algarve has been projected by the head of the Regional Algarve Tourism Entity (ERTA – formerly the RTA Regional Tourism Board), António Pina, who has estimated around 70 percent of the region’s facilities will be full during that period.

“As far as I am aware, although without sound figures, from what I am told by hoteliers and businessmen, demand for holidays in the Algarve over Easter is reasonable, at around 70 percent occupancy”, he said.

António Pina believes that the 70 percent occupancy rate estimated for Easter 2009 was mainly achieved “by great efforts and dynamics that businesses have made in adapting to new challenges and current difficulties”.

FOR PROPERTY DEALS ALSO SEE WWW.BUYPROPERTYPORTUGAL.COM

 

source

the portugal news

Technorati Tags: algarve,circuit portimao,crisis,distress property,circuit algarve,formula 1,a1 gp,property

Analyst highlights the benefits of sporting events for real estate investors

 

WEDNESDAY, 08 APRIL 2009

Sporting events can help real estate markets

The gripping start to the Formula 1 grand prix season is just a taster for the kind of effect prestigious sporting events can have on property markets it is claimed.

Countries can benefit from the experience of hosting global events like the Olympics and the America's Cup regatta but also from annual sporting draws like motor racing, according to property investment analysts.

The biggest benefit for buy to let property investors is from increased global attention via television coverage which in turn encourages visitors who may be interested in property. For investors it is best to look ahead and see what events are coming to a particular area and buy while prices are low.

One example cited by James Gonzalez, market analyst at Obelisk Investment Property, is Donnington in the UK which will host the British Grand Prix next year. He points out that the area which has suffered an industrial downturn will benefit from the major domestic and international attention.

Abu Dhabi is another which doesn't just host the final Formula 1 race of the 2009 season but also the country's first. Its new track is regarded as a symbol of the huge potential in the emirate.

Formula 1 generates around $4 billion in revenue a year and not surprisingly, a number of locations are keen to host one of the races in the annual calendar. Last year saw Singapore celebrating its first ever Formula 1 race, an event that contributed significantly towards 2008 being a record year for tourist spending in the island city state.

Valencia was also a first-time host for Formula 1 in 2008, an event that has put the Spanish city firmly on the international sporting map. It will host the final stage of the 33rd America's Cup next year.

As a key generator of income and jobs for an area, Formula 1 provides a major boost to any area,' said Gonzalez. 'Property is a main beneficiary since house prices tend to rise in the immediate area and there's the obvious benefit for buy-to-let owners too,' he added.

 

source propertywire.com

Technorati Tags: invest in algarve,motor park algarve,motorsports algarve,a1 gp,algarve motor park,race track apartments,buy to let

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Моб.+7916 6737370

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