Spain has lowered its ex-pat Capital Gains Tax from 35% to 18% in January 2007 which will be 22% below the UK rate for second homes.

As part of this new benefit Spain is also reducing the retention tax to 3% when an ex-pat sells their property. These extra tax breaks will ensure Spain remains the best all-round property investment.

Constraints of word count make it impossible to highlight the potential of each corner of the Iberian peninsula in one hit, but rather focus on two of the best spots with their own special secret formula for investment success. One established (note: Costa del Sol) and one slightly more obscure.

The obscure, the Costa Calida. Literally meaning ‘the warm coast' and reckoned by the World Health Organisation (WHO) to have the healthiest climate in the world, this Costa stretches for 250km of coastline from alongside the border of the province of Alicante in the north, almost down to the border of Almería in the south. One of the most famous assets of this coastline is Mar Menor, Europe's largest salt water lagoon with over 170km² of shallow water. The 22km spit of land that separates Mar Menor from the Mediterranean is called La Manga de Mar Menor.

The beaches along the spit are both wide and clean and many nautical clubs can be found across its length offering various water sports. The most famous and exclusive resort by Mar Menor is the 1.220 acre estate of La Manga Club, established in 1960 and just recently acquired by MedGroup from P&O who bought it 1987. The Costa Calida is best accessed via Alicante or Murcia airports, both of which offer regular flights to the UK with flight times of around two hours. First-rate road links can bring you to your chosen spot on the Costa Calida with the minimum of fuss.

Spanish Properties of Dinstinction has identified the Costa Calida as a hotspot for the future for a number of reasons. The countryside and coastline is attractive and unspoilt but things are just reaching a tipping point. The Tourist Board is becoming more proactive in marketing the area, new roads are being laid and a 140 million euro airport is under construction in Corvera through which authorities expect more than 5.000.000 passengers a year with 22 arrivals and departures each hour. The boom is set to begin. The increased commercial activity, local government spending and facilities on offer coupled with ease of access and stunning weather, places the Costa Calida in a prime position for growth.”

The winners were announced on the 20th September on the Turks and Caicos Island Provinciales. The World Travel Awards were created in 1993 to recognise and reward excellence in the world tourism industry and the winners were chosen from thousands of votes from more than 150 countries across the world.

This is the fourth time that La Manga Club Golf Resort has been awarded this prize, and long may it continue!

Just outside Murcia city is Nueva Condominia, a giant indoor shopping centre next to the new Murcia Real football stadium. Cross the motorway bridge to another giant retail park and Leisure complex with a multiplex cinema and Ikea.

A major new commercial and leisure park, Parque Mandarache has also recently opened in central Cartagena and another one at the entrance to Cartagena called Parque Mediterraneo is filling up with major outlets like Toys R Us, Leroy Merlin, Decathlon, Media Mart and Carrefour.

These new centres are a first in the Murcian region and are causing quite a stir with a high volume of visitors passing through their doors. The projects represent huge investments and are totalling billions of euros by developers with huge employment opportunities both direct and in direct.

The Mediterranean style Beach Club will look out to the sea, ensuring breathtaking sunsets from the terrace. This will be a great place to spend a day on the beach and where you will find a full range of services including a Mediterranean cuisine restaurant, a café and even a gymnasium where you can keep fit whilst enjoying the breathtaking location.

As well as relaxing in these exclusive and comfortable surroundings, you can make the most of the year round water sports available. Go windsurfing, diving or just have a fantastic swim in the crystal clear waters of the Mar Menor.

Access to the Beach Club couldn´t be easier, with Polaris World providing transport throughout the day from San Javier, just 10 minutes away from the majority of the Polaris World Golf Resorts.

This is a huge coup for Polaris World, and adds real value to property investment within their resorts. With prices starting at just over 119,000€ for a 2 bed golf resort property, there has never been a better time to invest in Polaris World.

Have a look at the resorts in the New Developments section now.

1. The final OK from the Minister (Fomento) is now given. From now on the execution is in the hand of the local Murcia government. It was already announced by the regional president, Luis Ramón Valcarcel, that no more time will be lost and execution of the project will happen without further delay.

2. Due to an enormous increase of tourism in Murcia it is now estimated that 200.000 passengers will fly into Murcia region in the opening year of the airport. After 4 years 1,5 million passengers are expected. In the first phase of construction an investment of 140 million Euros will be made and about 675 jobs will be created.

3. The local government of Murcia region will commence the construction of the project at the end of 2006.

4. Building work will commence in early 2007 and the project should be then completed within 2 years. It is likely that in spring 2009 you can book your flight to Murcia International Airport Corvera.