Exclusive Algarve Villas-Luxury homes for sale in Algarve: May 2009

Saturday, May 30, 2009

Which Portugal is right for you?

STORY HIGHLIGHTS

Portugal's most dramatic coastline is along the drive to the medieval town of Lagos
A Moorish castle tops the Lisbon skyline and baroque churches line the streets
The Douro River valley is stepped with some of Europe's oldest vine terraces

May 19, 2009 -- Updated 1354 GMT (2154 HKT)

Here's a snapshot of Portugal's defining experiences: beaches, cities, and food and wine. Get a sense of which ones fit your travel style and your budget.

Sandy beaches dot Portugal's rugged coastline.

Find a secluded beach

The Algarve, southern Portugal's balmy riviera, sees nothing but blue sky 300 days of the year. Admire the ocean views from the roof terrace at Dianamar, in the whitewashed old center of Albufeira, just a block from the beach. Rooms are simple, but all have private terraces, and the price includes a generous breakfast buffet and afternoon cake (doubles from $65).

The most dramatic coastline is along the drive to the medieval fortress town of Lagos. (Cars can be rented for around $30 a day in Albufeira; book online with companies like Europcar.) Between Praia de Dona Ana and Porto do Mós, the cliffs have been broken by the wind and sea into jagged rock formations pierced by blowholes and grottoes. Secret half-moon bays of golden sand lie hidden from view from all but the ocean.

An hour beyond Lagos is Europe's southwesternmost point: Cabo São Vicente, a cape whose plunging cliffs are dotted with crumbling medieval churches and castles. More than 500 years ago, Portuguese sailing ships left to explore the world from these shores. There's great hiking in the fragrant pine woods and peach orchards less than 20 miles inland, around the spa town of Monchique -- a cluster of tiny houses and 18th-century mansions tumbling down a steep, wooded valley. The trail up to the Picota peak has magnificent views out over the coast all the way to the cape.

Families from Lisbon take weekends on the beaches of Cascais, less than 20 miles from the capital. There they jostle for space on three broad, short beaches and wander, ice cream in hand, along the ocean esplanade or the clusters of narrow streets crowded around the town's imposing fort.

For wilder, lonelier sand, head to Guincho, four miles west. This sweeping, gently curved shoreline is pounded by some of the best surf in the eastern Atlantic. An almost constant wind makes for superb windsurfing; a world championship is hosted here most Augusts. But watch out for those rips and prepare for cold water. While the Algarve is good for swimming from spring to autumn, you'll need a wet suit around Cascais for all but the summer months.

The town is easily reached from Lisbon; trains leave from Belém station every 15 minutes and take just over half an hour ($4.50 round trip). But if you choose to stay, take a room at the Solar Dom Carlos, a 16th-century manor in a quiet Cascais backstreet (doubles from $30). There's a pocket-size former Royal Chapel on the hotel grounds.

Marvel at opulent chapels and palaces

Lisbon spreads in terra-cotta and cobblestone over seven hills, staring out over the Tagus River to the shimmering Atlantic. A rugged Moorish castle tops the skyline, and the streets are lined with baroque churches and Gaudíesque art nouveau buildings.

Allow at least three days for a first visit, and make time for the Mosteiro dos Jerónimos. Extravagantly decorated doorways lead through long cloisters to a church supported by pillars adorned with stone ropes and coils of faux seaweed. These rise to a fan-vaulted ceiling whose thousands of tons of stone somehow look light and airy. Many Portuguese notables are buried at this monastery, including Luís de Camões, author of Portugal's national epic, Os Lusíadas, and the explorer Vasco da Gama.

The Gulbenkian is one of the world's great small museums. Oil magnate Calouste Gulbenkian acquired a huge collection of Egyptian, European and Oriental artifacts and Renaissance art, which was brought to Lisbon after his death. Highlights include intricate Roman jewelry, opulent Moorish carpets and tapestries, paintings by Rembrandt and Van Dyck, and an extensive collection of René Lalique's art nouveau glassware.

Finish your day with a late afternoon's wander around the narrow, cobbled streets of the Bairro Alto neighborhood on a cliff overlooking the 18th-century city center. There's a pretty medieval square or a magnificent church at every turn. The most beautiful is the Igreja de São Roque, whose simple exterior hides what was said at the time to be the most expensive chapel ever built -- a feast of rich gold work and beguilingly complex mosaics of lapus lazuli, ivory, agate, and precious metals. Built in Rome in 1742, it was blessed by the Pope before being transported in its entirety to Lisbon.

It's an easy day trip from Lisbon to Sintra, a former royal retreat in cool forested hills near the coast. It looks like a Disney fantasy: pastel tiered castles crown the hilltops; faux-Moorish domed palaces lie hidden in wooded gardens; and extravagant, neo-Gothic mansions loom at the top of steep driveways. The grandest of all is the Palácio Nacional da Pena, rebuilt by Portugal's half-mad Austrian king-consort in the late 18th century (park and palace admission $14).

It's a fascinating mishmash of Italian colonnades, Ottoman/Oriental turrets and windows painted in garish pinks and yellows. The interior of the building is preserved as it was when royalty fled during the 1910 revolt -- down to the tables set for dinner and the lamp-stand statues of turbaned Turks holding light bulbs.

Sample robust wines and fresh fish

Every small Portuguese town has its own wine, traditional cakes and cheeses. In the Alentejo, cheeses are curdled with thistle flowers and washed down with rich, earthy red wines. Base yourself in Évora, a city founded by the Romans, expanded by the Moors and enriched by the Portuguese kings. Each group left its monuments; the cork forests and vineyards around the city are strewn with Iberian dolmens, for example.

About 150 miles north, in the mountainous Beira region, is the village of Pinhel, famous for its red wines and vanilla-flavored cavaca candies -- invented by nuns from the local convents in the Middle Ages. Pinhel is a delightful maze of winding streets and makes a great base for hiking in the nearby park land, Serra da Estrela, or for visiting the Côa Valley, where rock faces are inscribed with Paleolithic art.

The Douro River flows out of Spain into a deep valley stepped with some of Europe's oldest vine terraces. Port wine comes from here, together with some of Portugal's heartiest reds. The Douro Valley is easily seen on a boat cruise from Porto, a destination in its own right.

Here stands one of the largest collections of Renaissance buildings in the Iberian Peninsula. Every other corner leads to a little baroque church whose modest façade hides an interior encrusted with tons of gold. Winding streets in the city's medieval center lead down the hillside to the river.

Wander along the quays in Gaia across from Porto city and drop in on the various port wine warehouses for free samples. It's a great way to decide what kind to bring home as a gift. Cap off your day with dinner on the banks of the Douro at D. Tonho. The house specialties are bacalhau (salted cod served steamed or in little deep fried crispy balls), followed by pork fillets with clams or hake au gratin with seafood sauce.

7 insider tips

1. English is widely spoken, and it's always more welcome than Spanish, which might even produce a scowl. Portugal and Spain have an age-old rivalry. Visitors trying to speak a few words of Portuguese will make many friends.

2. In the Algarve, everyone sees the ocean from the beaches. But it's just as much fun seeing the beaches from the ocean. Book an afternoon boat trip out of Albufeira Marina with one of the numerous agents on the Rua 5 de Outubro and be sure to take a camera to capture the golden afternoon light on the crumbling cliffs.

3. Portugal can be a difficult country for vegetarians. Even vegetable soup is cooked with meat stock. Be sure to state clearly that you don't eat any meat or fish -- even as seasoning.

4. For the coolest night out in Lisbon, head to co-owner John Malkovich's waterfront warehouse club, Lux Fragil, which is always packed with the most fashionable crowd on a Friday or Saturday night.

5. Lisbon has some of the liveliest African music in Europe; terrific Cape Verdean, Angolan and Mozambican singers make the city home. The hottest acts play at the Club B.Leza nights at Cabaret Maxime (from $20). For schedules of Luso-African concerts all over Lisbon, e-mail bleza21@gmail.com.

6. Portugal is a great country for driving. Small distances and an excellent and well-signposted road network mean that it's never a long journey to the next place of interest. And the whole country can be driven from north to south in a little over a day. But beware of Portuguese drivers. Hugging the fender and flashing headlamps furiously on the highway is common practice -- as is reckless passing.

7. Portugal is great for kids. Lisbon has a huge aquarium, and the dolphin and seal shows at the Zoomarine on the Algarve are some of the best in Europe. There are swimming pools and restaurants here, so you can stay for the whole day (adults $14).

Timing

Portugal is sweltering in the summer (June through August) and very busy with European tourists. The spring (April through May) and autumn (September through October) are cooler, just as sunny and far less busy. The winter (November through March) is wet and cold.

Price index

Pint of locally brewed Sagres beer: $2 (€1.55).

A Francesinha, a filling, spicy sausage sandwich hailing from Porto, $4 (€3).

A bottle of Alentejo Conde D´Ervideira Reserva red wine: $14 (€11.20).

A 24-hour combination ticket on Lisbon's public transportation system: $4.75 (€3.70).

Average rate for a two-star hotel in Lisbon: $63 (€50).

Souce http://edition.cnn.com/2009/TRAVEL/getaways/05/19/portugal.travel.planning/

Friday, May 29, 2009

HOORAY! HOLIDAY POUND IS BOOMING

Story Image

GOOD NEWS: The pound is gaining strength

HOLIDAYMAKERS will be enjoying a spending boost this summer thanks to a huge surge in the pound’s value against the euro and dollar.

It will put more power in the pockets of British travellers, who make 28.5 million trips a year to Spain, France and America.
In a day of booming economic confidence, sterling surged above 1.60 US dollars yesterday for the first time since November.
The currency also rose to 1.15 euros and is expected to hit the 1.25 mark within months – in good time to put money into the pockets of Britons heading for overseas holidays.
The pound’s rally came on a day of increasing good news for the economy, with latest figures showing the numbers of mortgages approved for home buyers up again last month, the housing rental market showing signs of strength and a number of economists predicting the worst of the recession was over.
At Post Office branches the pound was up 17 per cent against the dollar from its lowest point earlier this year. It has recovered by 10 per cent against the euro since late 2008.

MORE GOOD NEWS: Mortgage approvals have soared

Sarah Munro, head of travel services at the Post Office, said: “There is a real glimmer of sunshine on the horizon for UK tourists as sterling has been moving steadily up against the euro over the past week and even more so over the past month against the US dollar.
“Shopaholics can expect to bag bargains Stateside as many of the top US stores are dropping their prices to attract back credit-crunched shoppers.
“Sterling is 17 per cent stronger than at its lowest point against the dollar on January 26 and will buy about the same amount of US currency as it did back in autumn 2002, when the boom in US shopping breaks started to accelerate.”
Ms Munro added: “There’s a double helping of good news for those considering the eurozone.

“The exchange rate has improved by more than 10 per cent since the end of 2008, and some of the most popular resorts in Spain, Portugal and Greece have cut their prices this year to encourage tourists.
“Prices have plummeted in Portugal’s Algarve and are 3.5 per cent lower than a year ago, despite the weaker pound.”
Travel trade body Abta said the pound’s rally was good news for holidaymakers who make 35 million trips to Spain, France, the US, Italy and Greece every year.
Spokeswoman Frances Tuke explained: “The euro and the dollar are the two main holiday currencies. If you are not going to the States or to the euro zone, then it is likely you would go to a country where the currency is pegged to the dollar.”

EVEN BETTER NEWS: Bank of England is feeling optimistic

Post Office branches were yesterday offering 1.5 dollars to the pound – similar to the autumn 2002 rates that marked the start of a boom in British shopping sprees to the US.
Sterling’s lowest point against the dollar was in January – about 1.36 to the pound.
Experts say sterling will strengthen against the single European currency and reach 1.25 euros as early as this autumn because the UK is on track to recover from the recession earlier than continental Europe.
Vicky Redwood of Capital Economics UK said: “The UK seems to be past the worst and the Bank of England is pulling out all the stops to put an end to the recession with huge amounts of quantitative easing, while we think the euro zone will continue to lag in that respect.”
Richard Snook, senior economist at the Centre for Economics and Business Research, explained: “The euro zone is going to be in trouble with the recovery.
“It’s as bad as everyone else at the moment, but next year will be difficult because of the timing as different economies start to turn around.”
The pound’s rally came as more positive economic signs emerged.
Mortgage approvals for residential property purchases rose to 27,685 last month from a low point of 18,027 in November, latest figures from the British Bankers’ Association show. The housing rental market seems to be stabilising, with average May rents unchanged for the first time in nine months.
Meanwhile, stronger stock market performances have finally increased the value of pension funds which suffered badly during the downturn.
Meanwhile, more than one in nine experts questioned for a National Association for Business Economics survey in America felt the slump there would be over before the new year.
The Association’s president Chris Varvares said: “There are emerging signs that the economy is stabilising. The economic recovery is likely to be considerably more moderate than those typically experienced following steep declines.”

http://www.express.co.uk/posts/view/103859/Hooray-Holiday-pound-is-booming-

Technorati Tags: pound gaining,outlook portugal 2009,ecnomical forecast. property business,algarve,lagos

Thursday, May 28, 2009

Economists: Recession to end in 2009

A recovery in the second half of this year will be 'moderate,' according to a report from the National Association for Business Economics.

Story of 2 downturns

NEW YORK (CNNMoney.com) -- The end of the recession is in sight, according to a new survey of leading economists.

While the economy is showing signs of stabilizing, the recovery will be more moderate than is typical following a severe downturn, said the National Association for Business Economics Outlook in a report released Wednesday.

The panel of 45 economists said it expects economic growth will rebound in the second half of 2009. However, the group still expects to see a decline in second-quarter economic activity.

0:00 /03:11Recovery? Not so fast

"The good news is that the NABE panel expects economic growth to turn positive in the second half of this year, with the pace of job losses narrowing sharply over the remainder of this year and employment turning up in early 2010," said NABE president Chris Varvares in a written statement.

Almost three out of four survey respondents expect the recession will end by the third quarter of 2009, the report said.

But 19% predicted that a turnaround won't come until the fourth quarter, and 7% said it may not come until early 2010. None of the panelists expected the recession to continue past the first quarter of next year.

0:00 /02:59How to spot a recovery

GDP: The report predicted a 1.8% decline in real GDP in the second quarter of 2009, bringing the total year-to-date decrease to 3.7%. That's the biggest drop since 1957-1958, the report said.

Still, "a modest second-half rebound in real GDP is expected," the report said, with economic growth turning positive in the third quarter. Real GDP growth over the second half of 2009 is expected to average 1.2%, which is well below average, the report said.

"Growth in 2010 is slated for a return to near its historical trend," the report said, predicting a 2.7% year-over-year increase. The NABE's February outlook had predicted a 3.1% uptick.

0:00 /5:18Call him 'Dr. Realistic'

Jobs: The panel forecast a total of 4.5 million jobs lost in 2009, pushing the unemployment rate to 9.8%. Modest gains in 2010 will reduce the rate to 9.3% by year's end, the report predicted.

Separate reports this month showed the unemployment rate is currently down in 21 states and stands at 8.9% nationally.

Deficit: Government spending "will provide vital support to the economy," and will be the only expenditure sector to grow in 2009, the report said.

But that spending will help push the federal deficit to a record-high $1.7 trillion in the 2009 fiscal year, before falling slightly to $1.4 trillion in fiscal 2010.

Housing: New and existing home sales are close to their lows, with 72% of NABE panelists expecting sales to hit bottom by the middle of 2009. More than 60% of those surveyed said housing starts would also bottom out at the same time.

The panelists were split on the issue of when home prices will hit their lows: 30% said it would happen by the third quarter of 2009; 30% said the fourth quarter; and 40% said declines will continue into 2010 or later. The median prediction is that home prices will rise 1% in 2010, the report said.

0:00 /2:48Rebuilding housing?

Spending: Widespread job losses and weak income growth have reduced consumer spending and boosted the personal savings rate, the report said. The savings rate has seen two consecutive quarters of sharp increases, holding above 4% through March. More than 70% of the panelists expect "more thrifty behavior is here to stay, at least for the next five years," the report said.

Credit: Obtaining long-term and short-term financing is still difficult, which poses a risk to the economy, but 90% of respondents said actions from the Federal Reserve have helped to ease the credit crunch.

Five-year outlook: More than half of the NABE economists said they expected potential growth of the U.S. economy over the next five years to be between 2% and 2.5%; 37% of respondents forecast growth between 2.5% and 3%, while 7% of the panelists said growth will be higher than 3%.

http://money.cnn.com/2009/05/27/news/economy/NABE_recovery_outlook/index.htm?postversion=2009052703

Lovely 4 bed villa in Vale Formoso near Almancil, Vale do Lobo and Quinta do Lago

Back to the listing

Designer villa

Vale Formoso
Price: € 1,995,000

Property Ref: EAV-746

Description

An elaborately designed four bedroom villa situated in the area of Vale Formosa, ideally located within 10 minutes from Quinta do Lago. The property has been finished with a carefully selected blend of natural stone tiling, beautifully hand crafted carpentry, German gourmet kitchen and appliances, Villeroy and Boch sanitary ware, intelligent electrical wiring, under floor heating, air conditioning and a heated swimming pool. The pleasant countryside and distant sea views provide a perfect setting for a holiday or permanent residence

http://www.eavillas.com/property.php?id=3766

Tuesday, May 26, 2009

Portugal Real Estate: Looking Good

Published on:

Tuesday, May 05, 2009

Written by:

Yemisrach Kifle

One look at the hoards of tourists coming through Portugal's international airports and it is hard to believe that there was actually a time when the country was an off the beaten path destination. That time is now clearly over. Buying property in Portugal is no longer an exotic pursuit - especially for Brits and Europeans. Places like Algarve, the country's southernmost region, have seen an explosion of resorts.

Still property in Portugal remains within reach of many folks who have the extra cash to purchase vacation homes. "For

Algarve Portugal
Algarve at night

people that have funds available Portugal is a very attractive place to invest - especially in the Silver coast - due to the very affordable prices and warm weather," said Mrs Soares, an International sales consultant.

About Portugal
Portugal is located on the western coast of Europe and borders Spain in the north and east while the Atlantic Ocean encircles the southern and western part of the country. Portugal is bestowed with a wide range of landscapes including mountains in the North, a desert-like center, beautiful sandy beaches and rugged coastal landscape.
About 10.6 million people call Portugal home, a majority of which are Roman Catholic. The country's economy is mostly service based but still has some strong industry in software and auto products. Its current economic model is based on building up the export sector, encouraging private investment, and nurturing the growth of the country's high-tech sector. Portugal is now, for the first time in its history, a net technology exporter, according to the Financial Times. The country is also working on renewable energy sources and is currently among top five European producers of alternative energy technology.

Visitors are charmed by Portugal's old world feel, picturesque villages, cities full of winding cobblestone streets and imposing cathedrals. Those who come looking for a rich gastronomical experience will not be disappointed by the country's delicious Mediterranean cuisine. Much like its neighbor Spain, the Portuguese lifestyle is an infectiously laid-back one that gives visitors a sense of getting away from it all.
Development of a solid, upscale tourism sector is part of the Portuguese government's economic growth strategy. The sector's GDP contribution is expected to climb from 15.6 percent in 2009 to 18 percent by 2019, according to the World Travel and Tourism Council. Currently, some 975,000 jobs in the country are tourism related. This number is expected to grow to 1,153,000 jobs, accounting for 22.1 percent of the country's total employment by 2019. Current predictions for the sector's real GDP growth look grim at -1.4 percent but the rate is expected to increase to an average annual growth of 3.6 percent over the next ten years.
Real estate in Portugal
Just like most other countries, the Portuguese economy is affected by the global economic slowdown. The country's property market was one of the first sectors to feel the pinch from the crisis and is the most hurt by it according to a report by Cushman & Wakefield, a global real estate solutions company.

The retail market is suffering from oversupply with demand dwindling as cautious retailers adopt a wait and see attitude towards expansion. The office sector and the industrial market haven't escaped the effects of the recession either. As the tourism sector begins to take a deeper hit, the hotel sector is starting to be seriously affected by the economic crisis.
The residential market has also seen better days. In addition to weak economic conditions and the credit crunch, rising interest rates have curbed demand. The number of international buyers in the sector has also fallen a bit. "The current state of the real estate market in Portugal is a little slower due to the pound's decline against the Euro. Our English and Irish clientele is slightly less in numbers, however our Dutch, Belgium and Swiss market are doing well," said Soares.
Buying property in Portugal

Lisbon
Monument in the center of Lisbon

There are no restrictions on who owns property in Portugal and the process is quite simple. International buyers need to have a verifiable identification such as a passport, according to Soares. They also need to apply for a "fiscal card" for tax purposes. Buyers should have a bank account in Portugal and they must be able to put down at least 30 percent of the property value. "An attorney is also needed," said Soares. Lawyers usually write the contracts and research titles, and ensure all paperwork such as tax registration is done.
Foreign buyers should be aware that sometimes the purchasing process can take longer than anticipated, according to Soares. "This is especially the case when purchasing off plan properties," she said. Another issue to think about is language. "Purchasing properties in areas that are too isolated can be difficult due to language barriers," she added. She also points out that when buying property internationally, it is crucial to use a reputable and reliable agent that has handled similar transactions before.
Looking ahead
Portugal is considered to be a sought-out location for overseas investors, according to Buy Property Portugal a real estate website focusing on the country. Rental properties in popular resort areas are reasonably good and the medium to long term prospects of the property sector look solid. Once the effects of the current economic slowdown wears off, the country's property sector is expected to bounce back. As far as international demand is concerned, Soares anticipates expansion in some markets. "I expect that the Scandinavian and the Russian market to grow," she said.

Source nuwireinvestor.com

Friday, May 22, 2009

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Tuesday, May 19, 2009

NEW ALGARVE CIRCUIT WITH THE BIGGEST HISTORIC FESTIVAL

Technorati Tags: historical car race,auto race ciruit,auto circuit,race circuit algarve,apartments algarve,buy to let apartments,guarenteed rental income

28 Apr 2009

Apresentação | Algarve Historic Festival

With 16 races for 12 Historic Racing Cars’ categories the Algarve Historic Festival will be the biggest historic motor racing event ever held in Portugal and Spain. It will take place at the new Autódromo Internacional do Algarve, in Portimão, between the 16th and 18th of October 2009.

This date coinciding with the mid term school holidays gives the entrants an excellent opportunity to take their families for a few days holiday in sunny Algarve. Promoter Francisco Santos has drawn together with the new circuit administration a complete programme on and off the track with various social activities. Entrants will have a welcome drink and barbecue in the paddock on Friday after practice and a welcome dinner and show at the Vilamoura Casino on Saturday.

During the Press Conference at the new Algarve Circuit (AIA), Paulo Pinheiro, AIA’s CEO and promoter Francisco Santos signed a three year contract for the organization and promotion of the Algarve Historic Festival for three years, up to 2011, on the same October week-end.

Official Travel Agents “Portugal de Luxe” and “Grandstand Tours” have also organised a wide range of tours and hotel packages with special rates for all tastes and pockets, and groups.

The new circuit has been praised by top Formula 1 drivers, including Michael Schumacher who has extensively tested in the GP variant in both two and four wheels. Directors of HGPCA, The Masters Series, Motor Racing Legends and Lurani Formula Junior have already visited the circuit and chosen a variant for the historic cars which has less hard braking bends.

The on-track programme has 10 free practices and 10 qualifying sessions on Friday and Saturday morning. The first of the 16 races will be at noon Saturday and the last will start at 5.30 pm on Sunday.

Apart from racing the Algarve Historic Festival will also have two main attractions with a social concern: a “Mini 50 Year Commemoration Charity Parade” and a “Ferrari, Maserati and Osca European Charity Parade”, with the patronage of Maria Teresa de Filippis and Ing. Alfieri Maserati. These two concentrations of cars will enable owners to drive three laps of the new circuit and contribute – €50 per car – towards a Children’s Welfare, Protection and Healthcare Organization.

Grandstand, paddock and VIP tickets are already on sale.

Historic Racing Car Categories:

Pre-War Motor Racing Legends, HGPCA/ BRDC Sports Cars, HGPCA Pre1961 and Pre-1966 Formula 1, Grand Prix Masters, World Sportscar Masters, Sports Racing Masters, Gentlemen Drivers GT & Sport, Masters Pre-66 Saloons, Masters Touring ‘70s, Masters Proto ‘70s, Lurani Formula Júnior.

Source Autodromodoalgarve.com

For luxury 5 star fully furnished properties for sale right on the race track with 7% rental guarantee check out ALGARVE RACE TRACK APARTMENTS FOR SALE

A1GP boss still considering F1 move

In times of economical difficulties buyers are aware of mostly their home market and not 100% with the markets abroad. The properties we have for sale on the Algarve race circuit are a success. The units have approximately 30% reserved and the business park (see article below) is almost sold out ! The move from the A1 GP to the Algarve will give the area and local business a large boost. For investors / buyers interested in a unit on the Algarve Race circuit we can provide a free investor file with all information needed, furthermore we have the privilege to invite you to the circuit and show you the facilities, the races, the hotel etc. IT IS HAPPENING AND IT IS HAPPENING NOW !

For more information call us 24 hours a day on +351 282 353 019 or info@eavillas.com

A1GP boss Tony Teixeira says his ambitions to run a Formula One team remain alive - after dropping a hint that he is looking at setting up an outfit in Portugal.

The South African businessman has looked at bids for Spyker, Scuderia Toro Rosso and Honda Racing over the past two years, but is now edging towards starting a team from scratch.

He is looking at using land acquired near the Algarve Circuit in Portimao as a base for his A1GP Series – as well as for housing an F1 operation. The ambitious scheme could receive funding from the Portuguese government.

"I've bought 47,000 square metres at the Portimao circuit," Teixeira told autosport.comabout his plans for relocating A1 GP. "I've bought that to put up a head office, an A1GP factory with 35 bays and an A2 factory, and restaurants, and the whole merchandising scene."

When asked about the possibility of basing an F1 team, Teixeira said: "The team that I've been looking at would be based (in Portugal) and backed by the Portuguese government.

"If this is going to be such an important racing centre, they have to have an F1 team to compete with. Otherwise it means nothing without F1...The idea is that eventually it could house an A1/F1 office."

Teixeira has also revealed that he had been in talks with Honda Racing as recently as the last fortnight about a takeover deal.

"I was one of the guys talking to Honda in the last two weeks," he said. "We had done a deal on Spyker, but I let Vijay (Mallya) take it….We then went to Toro Rosso in November and all the (other) teams said 'no customer boss' so I had to walk away.

"Today I'm in a completely different situation. I've built my own cars and designed my own chassis. I have my own factory. So I'm not a customer boss. I can now build my chassis and run with a Ferrari engine. I'm now the same as everyone else."

Teixeira said, however, that any involvement in Honda Racing was scuppered by the difficult financial conditions caused by a worldwide recession.

He added: "The only reason we want an F1 team is for the winners of A1 to go to F1. But, because of the times, I cannot commit myself to this year's budget."

Source Autosport.com

Technorati Tags: a1 gp,teixeira,race circuit algarve,race track apartments,www.racetrackapartments.com,autodromodoalgarve,motorparkalgarve,algarvemotorpark,buy to let,rental guarentee

MAX MOSLEY ENJOY THE AUTÓDROMO INTERNACIONAL DO ALGARVE

April 2009

The Autódromo Internacional do Algarve received this weekend the visit of the FIA President. Max Mosley was received by Paulo Pinheiro and visited the entire complex and was very liked with what we saw. This was another important step in the international afirmation of AIA. The infrastructure is a motive of honour for all the Portuguese.

After the visit, Max Mosley said: “This is an impressive circuit. It’s very beautiful and original. Interesting because it hás significant changes of level and blind corners, parts of the circuit where you would have to commit yourself before you can see where you are going, and that’s a feature of a lot of classic European circuits. The first step to host Formula 1 is a commercial arrangement. If they made a commercial agreement with Bernie Ecclestone and FOM then there wouldn’t be the slightest difficulty about putting them on the calendar”, explain the FIA President.

Naturally Paulo Pinheiro was very grateful with the visit of the maxim representative of FIA and with the opinion of Max Masley about the track. “I think this circuit would be a motive of honour for all Portuguese people and is fantastic what we archive in just five months. The visit of Max Mosley just can leave us happy and more with him said about the track,” said the maxim responsible of Autódromo Internacional do Algarve.

Source Autodromo do Algarve

Technorati Tags: formula 1,autosport,motor sport,algarve circuit,racing algarve,racing portimao,portimao race track

Monday, May 18, 2009

Blue flags galore – Portugal beaches

16/5/2009

This year 266 beaches on mainland Portugal, Madeira and the Azores will hoist the sought after ‘Blue Flag’, said José Archer, President of the Blue Flag Association.

This means 30 more beaches than last year have achieved the high standards necessary to be awarded a ‘Blue Flag’. Of those 30 beaches, 20 were first-time candidates and a further 25 re-applied after not making the cut last year, 15 of which saw their award revoked.

However, a number of beaches also lost their flags this year, the majority of which were through lack of safety.

To fly a ‘Blue Flag’, which can only be hoisted from June to September, beaches must comply with 29 different criteria, including indicators of hygiene, water quality, natural beauty and safety.

By region, the Algarve has the most number of ‘Blue Flag Beaches’, with 54 acclaimed areas of the coastline.

For the first time, Faro Ria, Camilo beach (Lagos) and Fuzeta Ria (Olhão) are amongst these.

Source, The Portugal news

Monday, May 11, 2009

Algarve bouncing back

9/5/2009

A combination of statistics and surveys have this week indicated that the Algarve can look forward to the coming summer with reserved optimism. Airport passenger figures appear to be recovering, coupled with a marked improvement in hotel occupancy. Furthermore, a British study has put Portugal as the second cheapest destination in the Euro Zone for Britons to visit and it would be the cheapest, if it were not for the pricey cost of sun cream.

Despite the crisis, it appears a stop has been put to the huge drops in hotel occupancy rates and airport passenger figures.

Hotel occupancy rates improved in April to 49.1 percent, while Faro airport passengers numbers, having recorded successive drops of at least 20 percent in each of the first three months this year when compared with the same periods in 2008, staged a dramatic improvement in April where unofficial figures show a drop of only 1.6 percent when compared with same month last year.

“Crises have their advantages, and it has forced us to rethink many aspects of tourism”, explained Dr. António Pina, chairman of the Algarve Tourism Board (ERTA) when confronted on Thursday by The Portugal News with what some observers have deemed to be the start of the sooner-than-expected recovery of tourism in the Algarve.

The ERTA chief revealed that sectors linked to tourism in the Algarve have revealed new-found “dynamism” in what he believes could be the recipe to bail the tourism-reliant region out of the current crisis.

Dr. Pina added: “The Algarve has its cake, which is the sun, the sea and golf. But we have been working on other areas to boost tourism. Wine routes, excellent bird-watching, nature walks are but some of the features the region boasts to attract more tourists”.

Meanwhile indications are that the summer will see no drop in the number of tourists to the region, with price cuts being practised by resorts across the region.

A study by the UK’s Post Office Travel Services this week put the Algarve back into the world’s top ten most competitive destinations for British tourists. Even more striking was that it was placed second in Euro Zone.

Explaining its findings, researchers said while attention has been focusing away from the Euro Zone for holidaymakers on a strict budget this summer, price cutting in some of the most popular Euro Zone destinations mean that the UK’s traditional favourites may cost less than expected, with the Algarve being highlighted in the study.

Sarah Munro, Post Office head of travel services said: “The Euro Zone has taken a bashing this year but our survey suggests that tourist outlets in many resorts are taking dramatic steps to encourage tourists. Despite the weak pound, this means that UK tourists who shop carefully could find that they get more than expected for their money.”

At around £42 for 10 holiday items, including drinks and meals, Bulgaria’s Sunny Beach resort was two and a half times cheaper than Antigua - the most expensive destination surveyed. Two other holiday spots outside the Euro Zone, Turkey and Croatia, joined Bulgaria as Europe’s cheapest options for a bargain break.

Under the ten items surveyed, the cost in Portugal amounted to £67.47, only 39p more than in Spain. However, taking away the cost of sun cream, which is almost £2 more expensive in Portugal than in Spain, the Algarve would be the cheapest summer destination for Britons in the Euro Zone by some margin.

France is the most expensive Euro Zone destination in this year’s barometer - costing £11.22 (+16.7 per cent) more than Spain. And one of the newest Euro Zone entrants, Cyprus, joins France as the highest priced European holiday destinations. By contrast Malta, which, like Cyprus, joined the Euro Zone in January 2008, has held its prices steady and emerges as third cheapest after Spain and Portugal.

Ironically the biggest price hikes were in the long haul destinations, highlighted as great value in previous surveys. The same 10 commodities surveyed by the Post Office have risen by 53.7 per cent in Thailand - which still remains the cheapest long haul destination - and by 46.9 per cent in Egypt.

Meanwhile, hotels in the Algarve reported improved occupancy rates after a dreadful start to the year.

After hitting all-time lows in January and February, March and April showed some improvements, with April bouncing back to report figures similar to those recorded the same month last year.

According to figures sent to The Portugal News by the Association for Algarve Hotels and Resorts (AHETA), occupancy was at 49.1 percent, down only 4.6 percent.

Three-star hotels reported an increase of 26.5 percent in occupancy rates, while four and five star hotels fell, which is explained by money-conscious tourists accepting a reduction in quality in exchange for significant cash savings.

AHETA president Eldérico Viegas told The Portugal News on Thursday that summer occupancy rates will probably be on a par with those recorded in 2008, mostly due to the cut in rates being practised across the country.

Mr Viegas added that the current crisis is what he termed “a transitional period” and one in which the Algarve will have to fight to keep regular tourists, especially those from Britain. He further called on hotels to accompany prices being asked in other rival destinations, and to not rely solely on the “affinity” Britons have for the Algarve to keep occupancy rates, and prices, up.

Source The Portugal News

Is the worst of the economic downturn over?

LONDON, England (CNN) -- The worst troughs of the global economic downturn could be over, although there remain risks ahead, according to the man who spearheaded perhaps the most complete study yet of the genesis of the current financial crisis.

On the rise? Stock markets have shown some signs of recovery

On the rise? Stock markets have shown some signs of

Technorati Tags: economical recession,recovery,house,house prices,buy,deals algarve

recovery

Thomas F. Cooley is Dean of the NYU Stern School of Business, which delivered its swift response to the financial turmoil, a collection of 18 papers examining different aspects of the phenomenon, to 100 leading U.S. policymakers, including inside the Obama administration, Congress, the Federal Reserve and financial regulators, bringing an appreciative response.

Cooley, who organized the production of the papers by 33 members of the Stern faculty over a period of just six weeks, told CNN he believed thatrecent sharp rises in stock markets could herald the beginnings of a wider recovery.

"There are distinct signs of a recovery in the U.S. economy, parts of Europe and elsewhere. There is a definite sense that the worst is over," he said. "But there are still many risks in the system, and we need to be cautious in what we evaluate because a lot of the problems aren't being addressed.

"For example, the recovery of the labor markets will be slow, partly because of the effects of monetary policy and the stimulus package."

Cooley organized the finance and economic staff into rapid and coordinated action in November in an attempt to address the what he describes as "clearly the worst financial crisis since the Great Depression."

By mid-December, what were termed the White Papers were being delivered to policymakers, looking into subjects including banking, credit ratings, hedge funds and regulators, as well as bailout efforts.

Cooley says he decided to act after receiving a series of outside requests for assistance in understanding what was taking place.

He said: "Our faculty was tapped many times to provide analysis of the events, and it was logical to move from analysis to discussing solutions.

"The scale and scope of the financial failures gave our collective work a sense of urgency."

In another expression of guarded optimism, Cooley says that while the initial crisis was the worst since the Great Depression, the wider picture is very different.

"The economic consequences are not as severe, nor will they be, as compared to the 1930s," he said. "That is because we have a better understand and better tools, and because governments and central banks around the world have been very proactive in addressing issues."

As well as potentially guiding policy, Cooley adds, the project brings added value to Stern's students, some of whom are now studying the issues as a new part of the MBA program.

"This was the ultimate teachable moment for our students to understand what went wrong and why," he said.

"Understanding what went wrong is critical to addressing the underlying issues and putting in place mechanisms so that they won't happen again."

And now to the big question -- how did the banking crisis happen at all? One element, Cooley says, is the sheer complexity of many modern banking techniques and the lack of proper oversight in how they operated.

"There is no doubt that the innovations in modern finance can be incredibly complex, and that the risks created in modern financial systems are difficult to understand and measure. Many in upper management at the banks didn't fully understand the risks involved," he said.

"As is clear from the events of the past year, this has been a disgraceful failure of risk management."

Source CNN.com