WEEKEND WORLD NEWSPAPER - PROPERTY SUPPLEMENT

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PROPERTY FORTNIGHTLY SUPPLEMENT


WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 28 February 02 - February 15, 2017

PROPERTY NEWS Why Buy in Spain? Spain has a great variety of landscapes, from mountains and lakes in the north to sandy beaches, olive groves and vineyards in the south. The drive from Burgos in the northwest to Malaga in the south-east takes you through so many different panoramas; you could be forgiven for thinking you are driving through several different countries. For years the south-eastern Mediterranean coast has been one of Europe’s most popular holiday destinations and is the place of choice for most British second homes. However, in recent years the north-west (Galicia) with its craggy shores on the Atlantic is attracting a large amount of attention amongst buyers looking for more rural retreats away from the tourist hubs of the Costas - at more sensible prices.

Only in the last two or three decades, and since Spain’s entry into the European Union, have things really begun to move ahead and to modernise. For those who live in the countryside however, life remains quite traditional and unchanged, blissfully so to visitors who look back to a more intimate and unspoilt village life that is long past in most countries. People are also attracted by the relaxed and slower way of life in Spain and the culinary delights like paella and tortillas are legendary... and affordable. Overall, there are loads of reasons that Spain is the number one destination for Britons buying abroad.

Legalities Based on news stories about property buyers in Spain having their property demolished, I think it’s safe to say that buyers now realise that it’s not only imperative to get a solicitor, but it’s absolutely necessary to get a good solicitor. Another vital factor is that you need to find a solicitor who is independent from the estate agent, developer or company showing you the properties, so that you know the solicitor is working for you and not the property professional. Some solicitors may draw up a contract of sale which is in favour of the estate agent (or end seller), and the reason behind this is quite disingenuous. By safeguarding the agent the solicitors will be assured of retaining their valuable business. Compare your one transaction to the many the solicitor stands to gain from the agent or developer and you will understand the clear conflict of interest here.

Getting Started Buying a property and living in Spain is straightforward if you are a national from another EEC (European Economic Community) country. If however, your nationality falls outside the Euro zone you may be able to buy a property but there might be time restrictions as to how long you can stay in the country. Furthermore, there are certain guidelines as to work

permits for non EEC nationals. You can find out information pertinent to you by accessing the Spanish Embassy website or through a variety of internet websites. There are also specialist emigration organisations that will often do a free consultation letting you know your options.

Finance In Spain purchase costs could be 10%+ over and above the purchase price and when considering the dramatic changes in currency exchange rates, this percentage could climb much higher. So, if your property price is £100,000 it could cost £110,000 (or more) by the time you complete and take possession of the property. It’s important from the start that you clearly understand how much a property will cost you as this will determine what price range you can look at. While researching the Internet, attending property trade shows and emailing estate agents, start to investigate what

is included in the property price versus what gets added on. In Spain the purchase price includes the estate agency fee (usually 5%, but nowadays maybe 3%). For all property and land, 10% of the purchase price is paid as a transfer tax that goes to the Spanish Treasury. In addition, there are notary fees and a land/property registration fee, which varies according to the purchase price of the property. Also consider solicitors and mortgage fees. Solicitors usually charge 1% of the purchase price + VAT at 21%.

Make sure that you have done your homework and that you are using a reliable and trustworthy solicitor. This may include asking for personal referrals - and these must not include your developer or agent - or using specialised Spanish websites. If the solicitor does not fully comprehend English or you have any reservations at all - move on and find someone else. Your solicitor will review the sale agreement, verify titles, and carry out other checks to ensure that you’re protected. They, or a notary, may be responsible for paying any taxes and registering the property with the land registry if this is required. Charges vary for legal and notary services but can cost around 1% to 2% of the sale value of the property. In Spain the cost is determined by the government. You need to bear in mind that the legal system in Spain may not work in your favour if trouble strikes, so it is of paramount importance that you hire qualified people who can ensure that you do not have to take legal action. Don’t put yourself in the position of needing legal redress. You may have the law on your side but the legal system abroad can keep you tied up for years and cost a fortune. Make sure you - and your solicitor - get it right from the start and the purchase will move forward easily, most purchases in Spain do, you only hear about those that don’t.



Noll & Partners with Stephanie Noll and Charles Gubbins, professionals who care! One of the largests portfolios in Sotogrande - solid experience and knowledge of the real estate market

Why Sotogrande?

Because of the Lifestyle


Quality Apartment Sotogrande Sotogrande Marina

3

2

SASOAP714

Large Apartment by the Beach Sotogrande Marina

2

146m2

2

SASOAP869

140m2

380,000€

Duplex Penthouse Sotogrande Sotogrande Marina

4

3

SASOPE747

292m2

398,000€

Penthouse Sotogrande Marina Sotogrande Marina

4

5

SASOPE916

294m2

470,000€

Marina Townhouse Sotogrande Sotogrande Marina

3

3

SASOTR913

217m2

975,000€

House Sotogrande Alto Sotogrande Alto

6

595,000€

info@noll-sotogrande.com +34 607 911 661 www.noll-sotogrande.com +34 607 465 383

4

SASOTR914

650m2

6010m2

1,950,000€


WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 28 February 02 - February 15, 2017

Rents rising

in Spain amid calls for rental controls Residential rental prices are rising in most Spanish cities with the growth led by Barcelona, Madrid and Palma de Mallorca but some areas are seeing rents fall.

A

verage rents in Barcelona have now increased from €892 a month in 2012 to €1,478, a rise of 65.7% while in Palma de Mallorca they are up 40% from €700 a month to €986 over the same time period. While in the capital city of Madrid rental prices have not risen as much but are still up 20% from €1,048 per month in 2012 to €1,256 a month now. Areas that have seen rents fall are led by Santander, the capital of the northern region of Cantabria, where prices have dropped by 3% in the last five years to an average of €649 a month. According to Mark Stucklin of Spanish Property Insight the growth of rents in many Spanish cities is partly due to a shortage of homes to rent but in the cases of Palma and Barcelona, tourist rental demand

is one of the big factors driving up prices for locals. He is predicting that there is likely to be more political opposition and hostile legislation towards holiday rentals especially as rents are set to increase. Indeed, a recent report from the international real estate company Cushman & Wakefield forecasts that average residential rental prices will rise 10% this year in Madrid and 5% in Barcelona. Figures from Spanish property portal Idealista show that rental yields are also rising, implying that rents are rising faster than house prices. The figures show that average yields rose to 6.3% last year, up from 5.5% the year before. Stucklin is a bit sceptical about the yield figures and believes they are not that high but the data is still significant. ‘Even if they aren’t as good, they still offer

much better returns to small and big investors alike than fixed income and other common asset classes,’ he pointed out. He also pointed out that the city administrations of both Barcelona and Madrid recently called on the Government in Madrid to change the rental law to control rents so that more local people can rent a home. Politians have also voiced concerns that in certain areas the majority of homes are holiday lets and local people are being priced out

Article provided courtesy of propertywire.com


MADRID · COSTA DEL SOL · SEVILLE · CÁDIZ COAST M O R E

592 m2

T H A N

5 bed.

4 . 0 0 0

6 baths

Benahavís

I N

536 m2

4 parking

PUERTO BANÚS

VILLA

E S TAT E S

3 bed.

G I L M A R . E S

3 baths

La Zagaleta

2 parking

PUERTO BANÚS

450 m2

6 bed.

2 parking

6 baths

Sotogrande Beach

ESTEPONA

VILLA

VILLA

Detached house in Benahavís with a built size of 592 m2 distributed in 3 floors. Has 5 bedrooms, 6 bathrooms, 1 living rooms, 25 kitchens, facing sur, 4 garages.

Beautiful villa in La Zagaleta Urbanization. The ground floor offers a cozy entrance area and a hall that has direct access to the terrace and garden with swimming pool where you can enjoy the sea.

Beautiful and exclusive villa in Sotogrande beach of 450 m2 of housing and 1.175 m2 of plot, with 6 bedrooms and 6 bathrooms, with big garden and private swimming pool.

3.500.000 €

2.000.000 €

1.400.000 €

717 m2

Ref. web: 99834

6 bed.

5 baths

Marbella Center

340 m2

2 parking

MARBELLA

Ref. web: 95018

3 bed.

3 baths

2 parking

Selwo

ESTEPONA

346 m2

Ref. web: 91028

4 bed.

3 baths

1 parking

Marbella East

MARBELLA

VILLA

PENTHOUSE DUPLEX

Incredible price reduction. Villa with panoramic sea views. Gated community with security. South orientation, indoor pool, games room, home cinema, gym, sauna and steam room. Perfect condition.

Beachfront penthouse duplex with fantastic views, of 340 m² with 3 bedrooms and 3 bathrooms located in one of the best and most exclusive developments in Costa Del Sol.

Fantastic duplex penthouse with open sea views, walking distance to the beach and 156 meters of terraces. Gated complex with 24 hours security, landscaped gardens and pools. Very well-connected area.

1.395.000 €

1.150.000 €

600.000 €

168 m2

Ref. web: 92677

3 bed.

Marbella East

4 baths

344 m2

1 parking

MARBELLA

DUPLEX PENTHOUSE

Ref. web: 94676

4 bed.

5 baths

Nueva Andalucía

1 parking

PUERTO BANÚS

DETACHED - VILLA

SEMIDETACHED HOUSE

138 m2

Ref. web: 32907

2 bed.

2 baths

1 parking

Cancelada

ESTEPONA

APARTMENT

Semidetached house in Cabopino, next to the beach, with sea views. Communal pool and excellent location. Close to amenities, schools, restaurants, golf courses, etc. and ten minutes’ drive to the center of Marbella.

Two lovely townhouses converted into a large family house with direct access to the Golf Course. It is decorated in an English cottage style. It has direct access to Golf Las Brisas.

Luxury 138 m² apartment with 2 bedrooms, 2 bathrooms and a toilet in a seafront development with direct acces to the beach, located in the New Golden Mile, Estepona. Garage and storage room.

535.000 €

525.000 €

490.000 €

Ref. web: 95966

For more information: Go to Gilmar.es and enter the web reference in the search and you will have detailed information on the estate.

Ref. web: 100000

ESTEPONA-SOTOGRANDE

MARBELLA-PUERTO BANÚS

Avda. de España, 190 estepona@gilmar.es

Plz. Antonio Banderas, 6 banus@gilmar.es

952 80 85 70

952 866 800

Ref. web: 99519

MARBELLA - GOLDEN MILE

952 86 13 41

Avda. Ricardo Soriano, 56 marbella@gilmar.es

While we try to ensure that prices shown here published are accurate at all times. we can not be responsible for typographical errors or any other that may appear on the site. If the published price of a home is incorrect CONSULTING INMOBILIARIO GILMAR is only responsible for the price you have signed with ownership of the property in the corresponding sales order, which we will try to conveny at the time of recognition of the error. Prices may be subject to cahnge without notice.


BUYING Looking for a knowledgeable, approachable, service orientated Real Estate Agent? Holmes Sotogrande is the friendly business with a long tradition of helping families make the right move. Use our online property search tool for the largest portfolio of property for sale in Sotogrande. Call now to take advantage of our expert knowledge to help you find your ideal home in Sotogrande.

The longest established estate agency in SOTOGRANDE

SELLING Holmes Sotogrande believes in the strength of teamwork. Holmes Sotogrande has the team with the best reputation for results. We are always looking for new listings. Call now for a free valuation and to hear how the Holmes team can help you best sell your home.

Your Sotogrande property market specialists www.holmessotogrande.com

+34 956 795 340


KINGS & QUEENS / SOTOGRANDE COSTA

UNIQUE STYLE / SOTOGRANDE ALTO

6

5

6

Plot: 2.331m² Built: 446 m²

1.395.000e Ref. HSS7-1171

4

Plot: 3.575m² Built: 444m²

1.395.000e Ref. HSN1-1190

LUXURIOUS APARTMENT/ VALGRANDE

PENTHOUSE - GREAT VIEWS/SOTOGRANDE MARINA

3

3

3

Built: 221m2 Terrace: 58m²

595.000e Ref. VAL-1352

2

Built: 177m2 Terrace: 229m²

850.000e Ref. TEN-1513

LOVELY TOWNHOUSE / SOTOGRANDE ALTO

NEW PROJECT / SOTOGRANDE ALTO

3

4

3

Built: 210 m² Terrace: 47 m²

495.000e Ref. THC-779

4

Plot: 1.317m² Built: 365m2 1.021.526e Ref. HSN5-1204


WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 28 February 02 - February 15, 2017

Glut of

unsaleable new homes in Spain down by 20% in 2016

A glut of homes built in Spain during the boom housing years before the crash of 2007 which have been difficult to sell is steadily falling but some will never sell, according to new research.

ome of the houses may end up being demolished but the glut is now non-existent in several areas of the country, according to research from real estate services firm ServiHabitat, part of the Caix Bank Group.

S

and will rise 4.3% in 2017. But rising prices will not be universal with the biggest growth likely to be in Madrid, Barcelona and locations popular with overseas buyers including the Balearics and the Canaries.

The figures from the report show that the glut is expected to have fallen by 20% in 2016 to 388,000 homes and set to fall another 20% in 2017 to around 315,000, well down on the 650,000 peak of 2009.

The latest indices to be published suggest prices were flat towards the end of 2016 for seasonal reasons. Data from Tinsa shows that values were up by 0.2% overall in December.

The highest number of difficult to sell new homes are in the La Rioja region, Castille-La Mancha and Valencia and is smallest or non-existent in Madrid, the Balearics, the Canaries, and Catalonia.

It is expected that a return of overseas buyers in 2016 will continue into 2017, but fewer British buyers due to Brexit jitters. While Spain has always been popular with European buyers the country’s golden visa scheme which grants residency to people from outside the EU investing in property is also proving popular.

ServiHabitat expects sales of all homes to rise in 2017. It says there were around 445,000 homes sold in 2016, up 26% compared to 2015. Its forecast for 2017 is for sales to rise by another 12%. The firm also forecasts that the national average house price will have increased by 4.6% in 2016

When it was introduced in 2013 with the offer of permanent residence for an investment of €500,000 or more in real estate, it was slow to take off but the

latest figures show some 24,500 visas have now been issue of which 11,774 were to principal investors and 12,731 to family members. Total foreign investment through the scheme was €1.71 billion as of the end of October 2016, up from €1.05 billion at the end of 2015, an increase of 63% with property the most popular investment stream accounting for 77%. The data also shows that Chinese buyers had invested a total of €469 million in 666 real estate purchases by the end of October, up 75% compared to the end of 2015 while Russians invested €480 million, 46% in 2016. The most popular destination amongst Chinese buyers was Madrid while Russian buyers are concentrated on popular holiday and second home locations such as the Costa del Sol, Costa Blanca, Costa Brava and Barcelona. Article provided courtesy of propertywire.com


LUXURY GARDEN APARTMENT WITH SEA VIEWS, Riviera del Sol - Urb. Miraflores Good rental property investment! large living room with loggia. Tropical gardens with swimming pool. 1 bed I 1 bath I Built: 75m2 I Price: 145.000€ I Ref: A160703

Charming townhouse in the popular area of Elviria, Marbella balcony, lovely winter garden, private garden with access to the community pool. 2 beds I 1.5 baths I Built: 195m2 I Price: 199.000€ I Ref: T160901

Bungalow recently renovated to a high standard, Costabella, Marbella Walking distance to the beach. Garage and garden 2 beds I 1 bath I Plot: 307m2 I Built: 130m2 I Price: 265.000€ I Ref: T161001

PRICE REDUCED - Penthouse with panoramic views, Marbella, Center town Perfect home close to all amenities, large terrace and underground parking. 2 beds I 2 baths I Built: 196m2 I Price: 495.000€ I Ref: A160701

Imposing luxury villa, Bahía de Marbella close to the beach Located in one of the best locations of Marbella 4 beds I 3 baths I Plot: 1589m2 I Built: 650m2 I Price: 2.200.000€ I Ref: V160501

Imposing FAMILY HOME, Marbella, El Rosario / Las Chapas Walking distance to the beach, large pool, landscaped garden 9 beds I 8 baths I Plot: 2701m2 I Built: 876m2 I Price: 3.200.000€ I Ref: V160401

c.hente@inveus.com www.inveus-estates.com

+34 952 86 38 89 +34 672 22 07 02 If you are selling your property do not hesitate to contact me


Ref: 1662

2 Bedroom Apartment Casarea Costa • 2 BEDROOMS • 2 BATHROOMS

Urb. Vista Bahia, Casares Costa A lovely well-presented 2 bedroom garden apartment with south facing views to the sea on the desirable Casares Costa. A beautiful elevated location close to the sandy blue flag beach and beach bars, golf courses of El Cortesin, Casares Golf and Doña Julia and a short 5 minute drive to the seaside village of Sabinillas and the marina of La Duquesa. The apartment is located on a gated complex with a beautiful swimming pool area, well maintained gardens and short walk to a large park with bar / restaurant - an ideal holiday location.

• 107m2 BUILT • 170m2 PLOT

135,000€

Ref: 1655

3 Bedroom Villa Estepona • 3 BEDROOMS • 3 BATHROOM

Urb. Don Pedro, Estepona

• 191m2 BUILT

A stunning 3 bedroom villa located in the highly desirable hillside urbanisation at Don Pedro, Estepona. This independent villa boasts secluded gardens and a private swimming pool with multiple sunny terraces. . This villa makes a beautiful family holiday home or permanent residence. A 2 minute drive from Estepona port and town, walking distance to the blue flag beaches with fantastic motorway access. An hour from Malaga airport and 30 minutes to Gibraltar Airport. The property is in excellent condition and viewing is highly recommended.

• 500m2 PLOT

460,000€

For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com


Ref: 1654

3 Bedroom Apartment Casares Costa • 3 BEDROOMS

Majestic Gardens, Casares Costa

• 3.5 BATHROOMS

Luxury ground floor apartment situated in the high quality and much sort after gated community of Majestic Gardens, located next to the PGA Championship Golf Course at Finca Cortesin and just a short walk from the blue flag beaches of Casares Costas. The charming village of Sabinillas is a 3 minute drive away and the picturesque marina and golf complex of La Duquesa a short walk further. Excellent access to Gibraltar, Sotogrande, Estepona, Marbella and Puerto Banus The apartment has a contemporary feel, very tastefully furnished and finished to a high standard.

• 193m2 BUILT • 193m2 PLOT

350,000€

Ref: 1665

2 Bedroom Villa Duquesa • 2 BEDROOMS • 1 BATHROOM

Hacienda Guadalupe, Duquesa Lovely semi detached villa with a large private garden and room for a swimming pool, affording lovely panoramic sea views. The villa is situated on a well established urbanization a short drive to the lively marina of Duquesa, sandy beaches and golf courses. The villa is a rare opportunity and has much potential for extension, pool, carport etc... if required. Full of charm and character, a super holiday home with rental potential or more permanent residence. Viewing recommended.

• 75m2 BUILT • 286m2 PLOT

195,000€

For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com


Issue 23 Sept 22 - Oct 05, 2016

WEEKEND WORLD - 37

NOW OPERATING ALONG THE COAST! From a total new build to remodelling a room or a property, MJL, one of Gibraltar’s largest construction companies, are now operating along the coast. CALL NOW FOR A FREE ESTIMATE OR CONSULTATION +350 200 64323

Genuine references available on request from curent a past clients! Interior design service avaiable, electrical works undertaken with bulletin supplied, plumbing works by qualifies professionals, plastering, painting, tiling, kitchens, bathrooms, cinema rooms, swimming pools, terrace works, waterproofing, roofs! +350 200 64323

www.mjlancleyltd.com

matt@mjlancleyltd.com

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