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PROPERTY FORTNIGHTLY SUPPLEMENT

WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 26 December 08 - December 21, 2016

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

Valgrande Apartment Sotogrande Sotogrande Alto

3

4

SASOAP902

Traditional Sotogrande Villa Sotogrande Alto

3

248m2

2

SASOTR897

212m2

495,000€

Charming Townhouse San Roque Outside Sotogrande

5

4

SAOUTO895

375m2

250m2

595,000€

Villa With Forest Views Sotogrande Alto

4

4

SASOTR812

436m2

440,000€

Las Cimas Villa Sotogrande Alto Sotogrande Alto

3

3

SASOMO908

320m2

1032m2

1,100,000€ info@noll-sotogrande.com +34 607 911 661 www.noll-sotogrande.com +34 607 465 383

1118m2

1325m2

990,000€

Family Villa - Sotogrande Costa Sotogrande Costa

5

3

SASOTR856

363m2

1090m2

750,000€

WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 26 December 08 - December 21, 2016

British buyer numbers down

B

in popular Spanish coastal locations due to Brexit

rexit is bad news for the recovering Spanish property market with a real estate conference in Marbella hearing that it is already having an impact with a fall in British buyers.

Interest from British buyers in locations like the Costa del Sol where they have been the biggest group of foreign buyers for many years, began dwindling in the run up to the European Union referendum in June and since.

Property expert Mark Stucklin told the conference, organised by Spanish appraisal company Tinsa, that British buyers made up 36% of foreign market in the Malaga province last year, more than double the next biggest group from Sweden and 50% of the top six markets combined.

He believes that when reliable figures are made available they will show a big decline in British purchases, perhaps 50% or more in the six months after Brexit. Stucklin said that he also spoke to other

property industry professionals at the conference, including lawyers and estate agents and most of them said that Brexit is having a significant negative impact on their business.

He explained that most of the professionals he spoke to at the conference, and those he has surveyed by email, reported that British demand has suffered a moderate or big decline one agent even said that he does not believe the British interest will come back for at least a year.

‘A few people report client concerns about the status of Brits in Europe after the EU exit, but more than anything it’s the fall in the pound that’s taking potential buyers out of the market,’ Stucklin said.

He also found that some professionals believe that Brexit has influenced clients from other countries, some of whom are also deciding to wait and see.

‘Buyers will often jump on any excuse to avoid having to make a big decision, and uncertainty is nearly always bad for confidence in any market,’ he added.

However, there is anecdotal evidence from some agents that British buyer interest stabilised in September after plunging in July and August in response to the original Brexit shock. ‘We have noticed an impact from Brexit, not only on British

demand but across other EU nationalities as well as the shockwaves of uncertainty touched other countries, however that now seems to be righting itself and figures are working steadily back up,’ said Catriona Hogan, marketing director of Your Viva.

‘We are still getting a good level of interest but there is a certain reticence when it comes to closing the deal with some people presumably holding off until they know what is going to happen and also holding to see if Sterling recuperates further,’ she added.

Stucklin, who runs Spanish Property Insight, added that the pound has moved down again in October, so he would not be surprised if British interest slides back again. ‘If you want to know where British buyer interest is heading, just look at the direction of the pound. And when I say interest I’m not talking about people dreaming of buying in Spain and making enquiries online, I’m talking about people who are serious about buying,’ he explained.

‘There’s no escaping the fact that Brexit has been a negative shock for the property market in Malaga and Alicante where the British are by far the biggest group of buyers. No other nationality is big enough to compensate for a big drop in British buyers in those areas, if that is what has happened,’ he added.

‘Agents and developers on these coasts will have to refocus their strategies on winning market share through brand building, as rising with the tide is no longer an option until the pound stages a recovery.

And I suspect a lot of small players might be put out of business,’ he concluded.

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?

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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.

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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.

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+34 956 795 340

VIEWS TO GOLF / SOTOGRANDE ALTO

SOUTHFACING VILLA / SOTOGRANDE COSTA

4

5

3

Plot: 1.680 m² Built: 341 m²

795.000 Ref. HSN5-479

4

Plot: 1.429m² Built: 314m²

950.000e Ref. HSS0-1185

LUXURIOUS APARTMENT/ VALGRANDE

FANTASTIC APARTMENT/SOTOGRANDE MARINA

3

3

3

Built: 221m2 Terrace: 58m²

595.000e Ref. VAL-1352

3

Built: 129m2 Terrace: 18m²

365.000e Ref. TEN-1568

GROUNDFLOOR APARTMENT/ SOTOGRANDE MARINA

SEMI DETACHED HOUSE / SOTOGRANDE ALTO

3

4

3

Built: 150 m² Terrace: 23 m²

482.000e Ref. DRG-1421

3

Plot: 498m² Built: 210 m²

498.000e Ref. TER-1577

James Stewart in association with Savills C/ Sierra Bermeja, s/n, Ed. Ayala 1, Pueblo Nuevo de Guadiaro, 11311 - Sotogrande, Cádiz T +34 956 795 300 M +34 628 574 953 info@js-sotogrande.com www.js-sotogrande.com

Real Sotogrande Golf - Sotogrande Costa - Villa 8 bedrooms • 8 bathrooms • built: TBA • plot: TBA • e5,500,000 Through a grand door in an exterior wall, you enter the property with, first, a staff bedroom to the left and then 2 patios - a garden patio to the right and another for sitting out, with a fireplace, to the left. The garden patio leads to a 3 bedroom/bathroom suites with a small sitting room, with all bedrooms having access to the garden. Ahead of the patios, through the front door and into the hall, the main area of the house comprises of a sitting

room, dining room, kitchen, TV room and 2 bedroom and bathrooms (including the master bedroom) on the ground floor and 2 bedroom/bathrooms upstairs. An attractive beamed ceiling terrace overlooks the swimming pool and beautiful garden which gradually slopes down to the golf course.

La Garriga - Barcelona - Catalan Masia 13 bedrooms • 14 bathrooms • 2500m2 built • 25 hectares of land • POA This beautiful & immaculately refurbished Masía is only 35mins from Barcelona, 5 mins walk from the local town & sits in 25 hectares of woodland, olive trees & landscaped gardens with large pool. Totally private 2 bedroom guest house overlooking wonderful pool area, 2 extra guest/staff cottages.

Excellently equipped equestrian facilities set up for training and breeding of horses. 4 Wells and plenty of private water. Special features include private elevator, indoor bowling alley, 750 olive trees and the possibility for conversion into a boutique hotel.

James Stewart in association with Savills C/ Sierra Bermeja, s/n, Ed. Ayala 1, Pueblo Nuevo de Guadiaro, 11311 - Sotogrande, Cádiz T +34 956 795 300 M +34 628 574 953 info@js-sotogrande.com www.js-sotogrande.com

VALGRANDE - Sotogrande ALTO - DUPLEX PENTHOUSE 4 bedrooms • 4 bathrooms • 321m2 built • 155m2 TERRACE • e950,000 Excellent duplex penthouse in the popular Valgrande gated community in Sotogrande Alto. This apartment consists of a large living/dining room, kitchen with utility area, 4 ensuite bedrooms (2 on each floor), guest cloakroom and storeroom. The highlight is the wonderful sunny terraces on both floors with automated wind sensative awnings and plenty of space for entertaining. There is a piped music system installed. Access is via

an elevator straight into the main floor from the underground car park or pedestrian level.

Included in the price are 2 parking spaces and a large lockup store in the communal area.

Valgrande has 24h security, external swimming pools, gym, Spa with interior lap pool, lovely communal gardens and putting green.

SOTOGRANDE COSTA - VILLA 6 bedrooms • 7 bathrooms • 1179m2 built • 3003m2 PLOt • e3,450,000 Superbly finished modern style villa on a quiet cul-de-sac in Sotogrande Costa. Entrance is via an impressive double height entrance hall leading through to a spacious lounge with vaulted ceiling. A semi-open plan hallway separates the dining room and TV snug which leads you to a very large family kitchen. The villa offers 7 en-suite bedrooms spread across its three floors all with French windows. It also comprises of a large loft room with cloakroom, study, child’s playroom, teenager lounge, a great cinema room, gym area,

laundry room, interior lap pool with Jacuzzi and double garage. All floors are connected via private elevator. Externally the villa presents excellent outdoor entertaining areas include a lovely covered terrace with retracting glass curtains, a garden casita with full kitchen and dining area and Mediterranean garden with waterfall created from the infinity edge of the pool above.

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

ASSESORIA & LEGAL SERVICES

Are Spain’s Millenniums

turning their back on home ownership?

Castles is a family run business based in the village of Sabinillas on the Costa del Sol in Southern Spain. We opened our doors in 1986 initially as a fiscal advisor to British, German and Polish clients and as an Estate Agent bringing together buyers and sellers of all nationalities from around the world. Our commitment to providing the highest of professional standards has seen our business grow since its inception and today we offer a professional service in the following areas

• PROPERTy • Non-residents taxes • Personal Income Taxes • IBI (rates) payments • Insurance • NIE and ‘residencia’ applications • MOTOR • Insurance • Transfers • Re-registration • Duplicate car documents • Driving licenses Castles Estate Agency Calle Isaac Peral, 29692, Manilva, Málaga, Spain

Tel : +34 952 891221

www.castlesestateagency.com

According to a study by Mortgage Company Credit Foncier based on European Union statistics, Spain is amongst the top European Nations to see home ownership drop in recent years in favour of property rental Having witnessed the meltdown of the countries property market with countless repossession, property devaluations and government clawbacks it seems that today’s young Spaniards are turning their backs on owning a home and are instead looking at a lifetime of renting.

Today the proportion of Spaniards renting a home has risen to 22 percent from 19 percent in 2007, according to data from Eurostat, the European Union’s statistics office while the number of homes listed for rent has risen from 9 percent of the total number of available homes in big cities in 2000 to as much as 25 percent in 2015, according to Idealista.

These results are surprising given that the Euribor which is the index rate attached to Spanish mortgages, has returned to historic low marking in 10 consecutive months in negative.

Issue 23 Sept 22 - Oct 05, 2016

WEEKEND WORLD - 37

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