Wilt Tourist property prices in Euro Drought

Wilt Tourist property prices in Euro Drought Spain and Portugal have suffered one of its worst drought of record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their crops and animals. Roger Munns, Managing Director of Tribune Properties, provides that property prices in the two European countries could drop up to fifteen percent in some areas that the owner decides to their homes on the market. ? For many owners of second homes, the original motivation for the coverage was somewhere that could spend time in a relaxed environment. Together with the idea of a good investment for the future, the market for homes from buyers overseas travel in the United Kingdom, Germany and Scandinavia has really taken over the past twenty-five years. But high temperatures and a strain on water supply could impact on their rental income in the coming years, many owners saw their overseas mortgage. Many tourists want to rent a villa with pool? but the attraction soon goes if the pool is empty. Some golf courses are using to access their watering of green, and won? t a big drop in tourism to make the difference between break even and not be able to meet the mortgage commitments for some overseas owners. This drop may have more functions than usual will be on the market, with a consequent fall in prices?. The first signs of a possible drop in property prices have already been on the Spanish Mediterranean island of Minorca, the better rainfall this year to Spain and no water restrictions, but some houses will cut the price by over ten percent. Water restrictions on the mainland are having an impact on potential villa buyers, with many questioning the value of a pool if they are not able to use them. Portugal has recently asked Spain for 6 million euros in compensation, as the water of the River Douro, which both countries fell below limits established in a bilateral agreement with Portugal coming close to their neighbor accused to steal its water. Good time to buy? For those purchasing a property in Portugal or Spain, September and October could be the ideal time to buy ', say Tribune Properties. ? Unusually many properties were reduced in August, traditionally a good month for sales. We normally see villa and apartment prices have fallen from mid-September, when tourists and potential buyers are thinner on the ground as some owners are prepared to sell or not? I will wait until after Easter, before a real opportunity to sell. The drought is not it? T is the sole cause of the decline in property prices to add Tribune Properties, saying it has accelerated price falls and have a good year for many estate agents in Europe. ? A good barometer for the property are the tax havens of Monaco and Andorra, which don? The T? Tourist? Buyers, but usually have a steady supply of buyers interested in the benefit rate is equal to zero. Andorra in the Pyrenees and the water has no problem? But real estate agents were twiddling their thumbs this summer waiting for buyers to show? and who did not? t. Monaco does not have similar problems of water supply, but also a lack of buyers. Tourists are still visiting the Principality and hotels in Monaco and Monte Carlo have been busy as always, but even here there is a severe lack of buyers of properties and negative, inflation is owned entirely possible to Monaco 's year for the first time in a decade. With more properties on the market we suggest buyers draw up a list of three or four houses and we have seen, and so what for owners who purchase a fifteen percent below the advertised asking price, to see how ready to be taken into regard. Seawater A possible answer to secure a long term tourist trade and consequential property market is Malta? s Example desaliniation construction of plants, converting sea water to drinking water, sometimes referred to as? Reverse osmosis?. The Mediterranean island competes with Portugal and Spain, the attention of buyers of second homes, and has a healthy tourism industry? even if no rivers and little rainfall, so the island to function normally even in drought. The water from this source can be used for agriculture and ensuring adequate reserves to fight forest fires for example - can be answered only in the pool and golf courses? and it would be a wide range of high quality domestic appliances.