Gecko Towers 10th November 2020
What on Earth’s that noise? That, my friends, is the collective sigh of relief that has been held in and pent up by much of the world’s population now for nearly nine months. Strange you may say that when confronted with new curfews and lockdowns that seek to limit our freedom, for arguably good reasons, the celebrations of the last few days have come as a very welcome distraction.
The so-called “Biden Bounce” heralds a stock market and commercial reaction to the appointment of the 46th US President-Elect. For many, the news of Mr. Biden’s victory is a very welcome tonic in a year of otherwise huge worry and uncertainty. He seems to be a remarkable public servant who has suffered more than his fair share of tragedy that he has borne with amazing resilience and fortitude.
His age aside, and with an exceptionally able Vice-President-Elect in Ms. Harris, the scene looks set to revive America’s respected role in world politics. The Biden-Harris victory does seemingly draw a line under the fragile excesses of President Trump and his less than statesmanlike behavior. The resulting boost saw the stock market’s hats flung high in the air. In London, an over 5% increase in the FTSE 100 was noted, while in New York the Dow Jones saw a near-record leap of nearly 6%.
The success of the new President-Elect alone was not the only reason for this tumult. On Monday 9th November 2020 – a date I suspect we may come to celebrate – Pfizer, the pharmaceutical giant, in collaboration with the German firm, BioNTech, announced that the early results of its world’s first effective COVID-19 vaccine showed it could prevent more than 90% of people from contracting the virus. Wow – finally, a breakthrough. It is suggested by the UK government that with emergency approval being sought the vaccine could be available for use by the NHS by the end of this month. Let’s wait and see.
The boom in the stock market favoured those companies who had had their shares battered by successive lockdowns and movement restrictions. If you wrote a list of those businesses that had suffered the most, you wouldn’t be surprised by the breakouts stars.
Predictably these included travel and cruise line operators, airlines including Rolls Royce, the plane engine manufacturers, the owners of city centre land including British Land, cinema operators and Live Nation the concert promoters. All of whom saw double-digit percentage rises in their shares.
With hopes being pinned on the positive news of a Biden victory and an effective vaccine is the time right to start to consider your future location?
Many have commented to me in recent months that their preference, should there be any further restrictions on movements under the current “State of Alarm” – as it is described in Spain – or at a future time, when confronting a similar event, would be to be in a location where their immediate environment presented them with a realistic opportunity to enjoy an outdoor space, in a climate that was viable for most of the year.
The Costa del Sol ticks so many of these relocation boxes and, if hits to this blog are to be believed, there are many located not only in the traditional markets of the UK and Northern Europe but from further afield including The UAE and Hong Kong who are now actively seeking intelligence about their ability to relocate to the Marbella region to pursue a lifestyle that preserves their ability to work remotely while delivering a sensational quality of life to their partners/family.
I had a call yesterday from a long-standing business associate to explain that after months of prevarication he and his wife would be moving to the Costa del Sol towards the end of the year. In his words, he was simply fed up with his current location in Northern Europe and would prefer to wear a COVID-19 mask in a climate where being outside is achievable for much of the year.
Initially, having located a property to rent, he envisaged that he and his wife, who are both very familiar with the Costa del Sol, would be sinking deeper roots here to provide themselves and their children with an alternative to frenetic lives in a busy metropolis, although continuing to travel for work was needed.
There are relatively few things over which we have meaningful control, but our lifestyle choices, at certain stages, become more manageable. There is no doubt some bravery is required by those keen to embrace the challenge of relocation but the potential rewards are massive.
Is it time for you to give serious thought to your future? We do look forward to hearing from you.
Should you be interested in discussing the legal process involved in buying a property in the Marbella region, we would be delighted to assist you. Our team of bi-lingual, highly experienced and wholly independent team of Abogados are ready to help you.
Please call me, Mark FR Wilkins, during usual business hours on +34 600 343 917 or, if you prefer, please e-mail me at mark@roslegal.es
Please note that our posts are for general interest. They are no substitute for proper legal advice tailored to your specific circumstances as provided by a qualified Abogado who is experienced in the application of the Spanish Law.
© Mark FR Wilkins 2020 All rights reserved.