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 Post subject: moving in the near future (hopefully)
PostPosted: Tue Feb 25, 2014 12:25 am 
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Joined: Tue Feb 25, 2014 12:14 am
Posts: 2
hi my wife 5 year old daughter and myself are looking to move over to hopefully the pdc area in the near future. now i know the bad parts 37% unemployment etc but i have a few questions. we have recently sold our house so the money side of being able to live for a while until we find jobs is not a problem. i am stuck on two counts i am 50 now and feel that i need one last career change first do i stay over here in a country that is quickly going downhill or trying to make a better life for ourselves. we need your views on two business ideas. first of all if we buy as bar over there what is trade like ? i dont expect a bar to be full every night im not that naive but i need to know if a business like that is financially viable. I have bar work experience my wife is a trained chef. i see there are a few bars for sale on the island so really i am asking any ex pat bar owners , if they had their time again would they still buy a bar and what they would do differently if they could. my second option is buying a place to rent for holidays and renting a place for ourselves to live that way we could do all the cleaning maintenance of the rental property etc. any advise off the forum re downfalls etc would be greatly appreciated.


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Wed Feb 26, 2014 12:26 pm 
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Joined: Mon Mar 31, 2008 2:10 pm
Posts: 1024
Am not sure which country is going quickly down hill Stuart - the one with 37% unemployment or the one with 7% unemployment......

The usual routes for brits to go in Lanza has been bar work or swimming pool maintenance but the recent recession has wiped out loads of them. Frankly I think you would be mad to give it all up for something with such huge competition.

The local landlords have fleeced many an optimistic brit setting up a bar especially those who speak no spanish and don't understand local culture and laws. The hours you need to work are horrific and the margins tiny and there is absolutely no safety net.

Its really up there with buying a football club for losing money very quickly.

Second idea is interesting. Could get a decent holiday place for £150k but after tax is the difference between what you rent it out for and what you pay in rent going to enable you to make ends meet...

I think you need to focus on the 37% unemployment bit and think is that the sort of place you want to be investing in.....


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Wed Feb 26, 2014 2:31 pm 
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Joined: Fri Aug 28, 2009 9:14 am
Posts: 230
I think the 37% unemployment rate is, for the most part, irrelevant to ex-pats on the island. This number is for the island as a whole (as far as I know), rather than just the minority group that ex-pats comprise.

I'd guess that unemployment among ex-pats is much lower, since any ex-pat without a job on the island is very likely to leave. They usually can't afford to hang around and just become part of the unemployment statistics.

(I don't think for a second that ex-pats have a better chance of employment in Lanzarote - they have a much worst chance! It's just the number of unemployed ex-pats is low overall since they're not here to show up in the stats).

For the most part, ex-pats aren't in the same general labour market as Spanish-speaking people on the island. If they were, then the 37% rate would matter, or rather the 63% employment figure would matter.

Given the non-contract nature of some establishments on the island, is there any way to really measure how many ex-pats are officially employed on the island? Or from there, how many are officially unemployed? If these numbers were available, then we could estimate the true rate of unemployment that's relevant to those who ask questions on this forum about work on the island.

Foodie: you're a man who's handy with numbers apparently. What do you think?


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Wed Feb 26, 2014 11:14 pm 
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Joined: Tue Feb 25, 2014 12:14 am
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thank you both for your replies i think the bar idea is a definite no no but maybe the rental side of apartments might be the way to go thanks once again for your advice. stuart


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Thu Feb 27, 2014 9:55 am 
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Joined: Mon Mar 31, 2008 2:10 pm
Posts: 1024
Its a good question - the true rate of employment is totally up for manipulation. And from what I have read the spanish authorities frankly don't give a sh*t about non spanish owned businesses and aren't very supportive.

What is interesting is that you very rarely read about the disasater stories in the gazette - you only here about the people who have come over and made it work.
I read somewhere that the chances of survival of a new expat business in Lanza for more than 5 year was between 1 in 5 and 1 in 10. Which are scary odds to be risking your life savings on. And the survivors may only be making a subsistence living.

Anecdotally the only expats who had to work ie. not retirees, I know who used to live on our complex have all gone back to the UK (minus £100k or so of the capital all gone)


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Wed Jan 07, 2015 9:26 am 
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Joined: Thu Jan 12, 2012 6:40 pm
Posts: 477
The beach is fine most of the day, most days of the year. As for buying a property to rent, I suggest you read this first.

www.janetanscombe.com/illegal-letting-in-the-canaries


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Tue Feb 17, 2015 7:43 pm 
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Joined: Fri Oct 14, 2011 4:44 pm
Posts: 4
I think u should come and try. About unemployment rate... its not as bad as it may seem :)

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http://lanzarotetransport.com Affordable Lanzarote airport transfers on the island


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Sat Feb 21, 2015 8:19 pm 
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Joined: Sun Aug 04, 2013 6:59 pm
Posts: 28
Better to try and fail, as not to try and regret. 1 life.!!!


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Wed Feb 25, 2015 10:17 am 
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Joined: Mon Mar 31, 2008 2:10 pm
Posts: 1024
Brave words Jo, but when chasing your dream risks the future prospects of your kids and family where do you draw the line? They too only have 1 life....

I have turned down loads of opportunties in the last 5 years because if they went t1ts up then I wouldn't be able to pay the mortgage.


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 Post subject: Re: moving in the near future (hopefully)
PostPosted: Thu Feb 26, 2015 9:27 pm 
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Joined: Sun Aug 04, 2013 6:59 pm
Posts: 28
Ime lucky to have paid my mortgage off Foodie and unlucky not to have kids, but can appreciate that others have responsibilities to others and financial commitments and cant follow their dreams.
hey-ho my dream might end up being my nightmare!! But will give it a go.


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