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For this reason, it is common to see the wrong utilization of the term residential tourism or real estate tourism, or even second residence tourism, as a way of denominating Tourist Real Estate Complexes TRECs.
According to Fonseca et alwhat principally differentiates tourist real estate and tourism in its strict sense, is the form of circulation, as much physical as that of capital, within the tourist business chain.
With it being common to have commercialization of the scenery, the utilization of the environment as a financial asset, and the consumption of space in a seasonal way.
In this way, the TRECs can be conceptualized as conglomerates that, within their systematically organized structure, unite resorts, residences, golf courses, marinas and other leisure equipment in just one tourist product, and which complement each other to attend to the necessities of leisure and spare time, as much as those of the traditional tourist, as those of the residential tourist, assuming in this way, a fusion between the tourist element and that of real estate. It should be observed, however, that residential tourism enters with one of the fundamental components for the existence of a TREC, namely a resort, which on the majority of occasions includes golf courses, water sports and a diverse infrastructure of services.
Nonetheless, it can be affirmed that the necessity for the commercialization of second residences is the main origin of this new model of touristic undertaking, motivated principally by the constant and growing expansion of the real estate market for new types of business that are more profitable and attractive, particularly during the times of apparent crisis, as can be observed in the following citation.
The instability of the civil construction sector The necessity for the migration of capital from one sector of the economy to the other, as a way of guaranteeing its reproduction in moments of crisis, is one of the trigger factors for the marriage between contractors and the activity of tourism. The model represented by the TRECs considerably elevates the possibility of the financial return of investors from this new segment.
It is the association between resorts and the tourism of second residences that turns the TRECs into undertakings so highly desired by investors and entrepreneurs from the real estate and tourist industries. According to Canteras, Vasquez and Mourathe major difference between a tourist real estate product and a pure real estate product is the leveraging of value afforded by an element that has its own life, whether it is a hotel, or more frequently, a composition of diverse facilities like golf, tennis or a theme park.
The layout represented in figure 1 demonstrates how this leveraging of value functions in a TREC. The relationship for the leveraging of value in a TREC However, as Silva et al affirm, the environmental impact is considerable in this type of tourism, being produced by the exacerbated consumption of water, the extrapolation of the cargo capacity of the natural sites and the alteration of the surroundings. Due to the differential that tourist real estate activity has over the development of resorts and second residences on an isolated basis, the model has become hegemonic in the development of tourism in traditional destinations.
According to Aledothere are three reasons that explain the rapid growth of the tourism-real estate model in Spain the country seen as the most important reference point in the world and where the model can be found in a well-advanced part of the development process: The second is the impossibility of finding land near the coast owing to the case of total urban contamination of the coast. In other words, a mechanism that is characteristic in capitalist economies that allows for new ways to accumulate capital.
According to Harveythese new forms of accumulating capital are a result of expansion and geographical concentration efforts, which easily explains the important participation of foreign capital principally, Portuguese and Spanish in the Brazilian northeast in this new type of investment.
Evidently, after the crisis of there was a retraction of these complexes and "a reduction in the number and quantity of foreign capital inputs" SILVA et al,p. TRECs - The New Large Estates of Northeast brazil The experience of the results with tourist real estate undertakings in Brazil is still in the very early stages of development, bearing in mind that until recently there had still not been any completely finished.
It is a milestone in Brazilian tourist activity in virtue of the amounts invested, and the repercussion and impact as a result of its implantation. Consequently, the northeast region has turned itself into one of the most sought after destinations in the world for the development of this new touristic model, namely of Tourist Real Estate Complexes. In accordance with what can be observed in table 1, 53 TRECs were identified as to be implanted, or actually in the implantation phase in the northeast region of Brazil.
Forty-seven of these provided information in relation to the area acquired for the implantation of the undertakings, amounting for In relation to the amounts invested, nine undertakings did not release this information. Of this total, Aerial view of the Ecocity Project, in Piaui. Every north-eastern state has at least one undertaking to be implanted, reinforcing the previously mentioned tendency for the migration of tourist real estate market investments to this region.
Paralysation of the construction of the Aquiraz Riviera undertaking and the cancelation of the environmental licenses conceded for its installation and for other undertakings that incorrectly occupy dunes, both fixed and mobile, as well as the deflation plain in the Aquiraz municipality, in the Metropolitan Region of Fortaleza.
The author provides an account of the real situation of the main tourist real estate undertakings in that state, including important information that is extremely difficult to obtain from the official bodies of disclosure, whom which, on many occasions, are involved with these undertakings.
This account brings to light important information, as can be seen from the following ipsis litteris transcribed excerpt: As much as for the refinement and priviledge There will be 40 bungalows with a private pool and a butler 24 hours per day, and 17 villas to be commercialized as second residences.
Even though, it does not have problems in the courts, it is completely at a standstill, without any perspective that work will begin, and without any official position in relation to the project's progress, to the commitments assumed and the expectations generated with the receiving community. This is a completely different picture to the one of the situation before the beginning of the global financial crisis, when the visits and the apparent socio-environmental actions in the municipality were frequent.
On that occasion, the group proposed to attend to its objectives of valuing the environment and all its aspects, and of promoting social integration with the local community, including the promise of creating the Qualta Institute of Social Responsibility, the social arm of the undertaking, supposedly the organization responsible for the sustainable development of the region. With the arrival of the financial crisis the picture changed.
The entrepreneurs reduced the frequency with which they were seen, as much in Barreiros, as in the capital of the state, Recife. The absence of those responsible began to generate speculation as to the solidness of the business group and the implantation itself of The Reef Club, reinforcing the tendency towards problems with cancellations and delays of tourist real estate undertakings announced for the northeast.
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The loss of credibility According to Peixoto Accyoli, Executive Director of ADIT, when commenting about the wave of problems with tourist real estate undertakings, the majority of the large scale undertakings will never be consolidated, "especially those developed by companies that don't have any background, that don't have funding, that include thousands of units and are a long way from consolidated tourist destinations [ The President of ADIT himself, Felipe Cavalcante, affirmed that the crisis served to purify the tourist real estate market and separate the adventurous groups from those undertakings of more solid companies" Sandes, An announcement about the new profile of investors.
The crisis, besides being a temporary brake, brought to light the mercantile and speculative propensity of these undertakings, in contrast with the sustainable talk of their environmental impact studies previously presented. Chart 1which presents a comparison of average prices of second residences in various locations around the world demonstrates that from the viewpoint of tourist real estate promotors, there is a large space for the expansion of this activity.
Due to this marketing possibility, even whilst suffering the effects of the world financial crisis, investors continue to believe in this promising market, whilst at the same time waiting silently for the right time to pick up investments.
Average sale prices for second residences 4. Some are waterproof and dustproof so they will withstand rough outdoor conditions.
Optical performance The key criterion for excellent sharpness, contrast and light intensity is the quality of the prisms and lenses. Olympus is a world-renowned brand with nearly years of expertise in optical technologies, and its lenses are synonymous with optical precision. Most of the lenses and prisms fitted in Olympus binoculars are multi-coated or coated, which prevents loss of light and sharpness caused by reflections.
Guaranteed quality Olympus guarantees you outstanding quality. High-grade optical materials and components provide decades of pleasure using our binoculars — which is why we give users across Europe the Olympus binoculars warranty. Olympus standard Most Olympus binoculars are equipped with long eye relief and adjustable eyepieces ensuring the entire field of view even for people wearing glasses.
In addition, they provide diopter adjustment for comfortable viewing without glasses. All Olympus binoculars come complete with a case, neck strap and protective lens covers. Binoculars glossary The following is meant to give you a better understanding of some binocular-specific technical terms to help you make the right choice.
Magnification Magnification is represented by a number and indicates how large an object appears when viewed through the binoculars. With a magnification factor of 8x, for example, a subject m away appears as if it were m away. Magnification factors from 8x to 10x allow for easy viewing, outdoors and indoors, whereas higher magnification requires an absolutely steady hand or some support for comfortable viewing. Objective lens diameter The diameter of the objective lens — in combination with the quality of prism and lens coatings — determines how much light can be gathered to form an image.
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