Spring brings new energy with the opening of Real Estate, 2011 in Mallorca

Maybe it's just because spring makes everyone feel more relaxed, but it seems that this month the Spanish government has dared to take on huge debt and banking problems - and that is finally turning our struggling economy was successful.

The latest news is very positive. We have implemented new capital rules for banks. There is no danger that Spain follow in the footsteps of Greece and Ireland. An important group of casinos in the United States is considering investing in the mainland. And the Mallorca property market is showing signs of life.

In the long term, the key is to restructure the banking sector of bad real estate loans overloaded. Last month the cabinet approved a new law that requires banks to bolster their capital by September if they will not be subjected to a partial nationalization - an important step that aims to improve the credibility of Spain to the sovereign goods markets.

As part of the plan, the government has also announced that unlisted savings banks have until March 2012 to organize their entry into bag. At the same time, the number of savings groups has been reduced from 45 to only 17 due to mergers and taking two small and weak banks by the financial authorities.

Taking advantage of the optimism of spring, the Minister of Economy, Elena Salgado, said he believes that ultimately cost less than 20.000 million recapitalization of Spanish lenders - plus 15.000 million already spent.

Today the Spanish banks finance only 1.5 percent of their balance sheets with the European Central Bank's liquidity, the lowest figure for two years - compared with 18 percent in Greece, a 15 percent Ireland and 7 percent in Portugal, even more alarming figures.

Salgado, who is always looking for good news, also said the Spanish economy shrank less than expected in 2010, up 0.1 percent instead of 0.3 percent forecast earlier this year officially. Not much, but it's something.

"Spain seems to have suddenly assumed gravity of the crisis in the euro area - and has been saying, and what is more important, doing, what they touch," agrees Gary Jenkins, head of Fixed Income at Evolution Securities. "That's why real yields have been much more stable.

So if you plan to move to Mallorca, investment property or you're here, it seems that - although today it is almost impossible to say with certainty, you have chosen the best.

Andrew Spence Bendinat Group is among the most optimistic. "Spring has brought many interested buyers to the island - that's what I've noticed and I have also commented on several industry colleagues," he said in an interview with ABC Mallorca.

"In real estate investments, there are certain traditional values ​​that never change, such as security, stability, environmental quality, natural beauty and a local government that restricts excessive development in the area. Luckily Mallorca has all these values ​​... are the foundation of our success.

"In fact, these attractions are so invaluable to the island apart from other investment destinations on the mainland and other countries. I firmly believe that people are returning to those core values ​​- and that will bring them here."

Daniel Chavarria Waschke of Engel & Volkers has a similar opinion - and always thought that improvements to the infrastructure of Mallorca are an attractive value to investors.

"It remains important to recognize that international investment, national and local on the island - and that gives us what is undoubtedly the most sophisticated infrastructure of any Mediterranean island" he told ABC Mallorca.

Chavarria Waschke cites the example of the new public hospital was opened in Espases are on the outskirts of Palma - and as for entertainment, new marina for super-yachts in Port Adriano will be finished later this year.

These projects are essential to maintain good morale. So whatever your opinion of casinos is a good economic news for all the fact that the American casino operator, Las Vegas Sands (LVS) is considering locating its new project, a 'mini Las Vegas' ( 10 to 15.000 billion euros) in Spain.

According to Sheldon Adelson, chairman and CEO of the company, the project will include a hotel, gaming and entertainment complex - with no more and no less than 20,000 hotel rooms and millions of square feet of convention space, displays and stores.

Where are considered building? Well, they say LVS are negotiating with the authorities in Barcelona and Madrid, and who has contacts less advanced in Valencia and the Costa del Sol

Adelson has admitted that the company will seek "great works concessions" for the project - while the obvious attraction for any prospective location will be the much desired jobs, approximately 180.000 during and after construction.

Given the economic situation is unclear who thinks he is in a good position to negotiate. "It would be the first time in history that a private company make a big investment in Spain, and we need government support," he said, while calling a committee of high-level support for the project - as well as approval plans within 60 days, a demand which will undoubtedly cause controversy.

So there's good news and we must take advantage of them - and the best that Mallorca has to offer.

"Visitors and investors looking for quality of life," says Andrew Spence of Bendinat. "Every year the quality of life of the island rises in terms of infrastructure, cultural events and other services such as restaurants.

"And while it is true that the season has weakened in terms of numbers of visitors - Spring has shown that there is still investor interest in the value for money and everything indicates that we expect a good summer."