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PROPERTY FORTNIGHTLY SUPPLEMENT

WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 27 December 22, 2016 - January 04, 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

Valgrande Apartment Sotogrande Sotogrande Alto

SASOAP902

Traditional Sotogrande Villa Sotogrande Alto

248m2

SASOTR897

212m2

495,000€

First Line Beach Apartment Sotogrande Costa

SASOAP906

164m2

595,000€

Villa With Forest Views Sotogrande Alto

SASOTR812

436m2

550,000€

Beautiful well built villa Sotogrande Alto

SASOVI532

352m2

1055m2

799,000€

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

1118m2

1325m2

990,000€

Townhouse La Reserva De Sotogrande La Reserva de Sotogrande

245m2

SALATO893

80m2

495,000€

WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 27 December 22, 2016 - January 04, 2017

Foreign buyers

pushing up sales

in coastal areas of Spain, new research suggests

n analysis of the sales figures by Spanish real estate portal Kyero along with its own research shows it is racing ahead of other regions when it comes to sales.

lifestyle is sought by a new influx of foreign buyers including French, Dutch and Germans,’ said Sharon Garner, sales director for Almeria based Spanish Property Choice.

According to the firm’s head of research Richard Speigal British buyers are increasingly focused on value for money since the vote to leave the European Union and Almeria offers what they are looking for.

She explained that despite Brexit there is still as steady flow of British buyers searching for a Spanish lifestyle. ‘We’ve seen a sharp rise in sales and long term lets, both of which have superseded our expectations for the year,’ she added.

On a quarterly basis, property sales in Almeria are up by 93% when compared with the third quarter of 2015, according to the registrars’ figures. With the rest of Spain growing modestly, Almeria stands out as enjoying a significant boom. Almeria is in Andalusia on Spain’s Mediterranean coastline and while other locations popular with British buyers and expats were focussed on high rise developments in the late 1960s, to cram in as many tourists as possible, Almeria remained largely untouched. Speigal believes that it means that those looking for a more authentic Spain can find property in the coastal towns of Almeria with a charm that their more developed neighbours have lost for good. ‘Almeria offers exceptional value for money. Property here costs a fraction of what it does in the neighbouring Costas. Our coastal towns remain full of charm and character and just a 15 minute drive away you can find yourself in wonderful countryside. This

Spanish Property Choice, which has had to expand its staff team twice already during 2016 to cope with increased buyer demand, says buyers are 45 to 60 years old and looking for a second home in the sunshine, with early retirees joined by those looking to bring up their family in a safe, healthy environment. According to Speigal there used to be a fairly well established pattern of British buyers working until their retirement and then spending their savings on a home in the sunshine but modern ways of working and shifting values among the younger generation are having a significant impact on that approach. ‘Many people struggle to buy UK property well into their 30s, if not their 40s these days. With remote working an option and property prices in Spain so reasonable and particularly so in Almeria where the average property costs just €129,000, the appeal of moving overseas to raise a family has never been stronger,’ he said.

New data from the Spanish registrars suggests that Almeria on the south east coast of Spain is the country’s new property hotspot for British buyers as sales to all foreigners increase.

By way of comparison, the average property in Alicante costs €210,000, while the average home in Malaga costs €295,000. The growth in sales is reflected overall in the Spanish market with the register figures showing that transactions recorded in September were up 12% compared to the same month in 2015. Sales have now grown almost every month since March 2014. Sales were down in some of the Costas which buyers in Almeria might be trying to avoid. Transactions were down in Malaga, home to the Costa del Sol, which probably reflects a decline in British demand below average in Alicante on the Costa Blanca, another region that has been popular with British buyers. Meanwhile, a new from CaixaBank says the real estate recovery is getting stronger and is led by coastal regions with demand from foreign buyers playing a major part. Foreigners buying second homes lie behind a large proportion of the sales recorded on the Mediterranean coast and Canary Islands. Overseas buyers made up 30% of sales in the Balearic Islands, the Canary Islands, Malaga and Murcia, the bank figures show. All the provinces where the housing market grew more than 10% in the second quarter of 2016 were on the Mediterranean coast or the islands. 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

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.

SELLING

The longest established estate agency in SOTOGRANDE

Wishing all our past, present and future clients a very Merry Christmas and Happy New Year

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

Plot: 2.331m² Built: 446 m²

1.395.000e Ref. HSS7-1171

Plot: 3.575m² Built: 444m²

1.395.000e Ref. HSN1-1190

LUXURIOUS APARTMENT/ VALGRANDE

PENTHOUSE - GREAT VIEWS/SOTOGRANDE MARINA

Built: 221m2 Terrace: 58m²

595.000e Ref. VAL-1352

Built: 177m2 Terrace: 229m²

850.000e Ref. TEN-1513

LOVELY TOWNHOUSE / SOTOGRANDE ALTO

NEW PROJECT / SOTOGRANDE ALTO

Built: 210 m² Terrace: 47 m²

495.000e Ref. THC-779

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

Wishing all our past, present and future clients a very Merry Christmas and Happy New Year

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.

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.

Wishing all our past, present and future clients a very Merry Christmas and Happy New Year 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

Wishing all our past, present and future clients a very Merry Christmas and Happy New Year 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

Warnings emerging in Spain over another

boom and bust property bubble

While the property recovery is well underway in Spain a warning has been issued that another housing bubble could be on the horizon between 2018 and 2020.

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

ccording to a leading economist the risk factor is that the real estate market could be seen as too good an investment and demand could push up prices. Some Spanish estate agents are also concerned about this kind of scenario.

Ignacio de la Torre, economist and head of the investment firm Arcano, told a recent industry conference that before the economic crash in 2007 easy credit and the mistaken assumption that real estate was a one way bet led to a buying spree. The logic was that prices would always rise, in a classic bubble dynamic. The more people invested, the more prices rose, so the more people invested, and so on, until the bubble burst. Currently property is cheap and interest rates low and de la Torre said it is easy to understand why more and more Spaniards are opting to invest in local real estate, many of them using mortgage financing that has never been so cheap. However, he believes that the attractiveness of property as an investment could inflate another bubble in the next two years. ‘Speculative money will go to the residential sector in search of yield and prices will rise further than expected and further than salaries. It will all happen sooner than we think,’ he said. He believes such a scenario could be a averted if the European Central Bank was able to stop banks lending more than 60% LTV. But Mark Stucklin, of Spanish Property Insight, believes that this is only true of some real estate hotspots in the big cities and on the coast, and not all over Spain, as happened last time around. He pointed out that in many parts of Spain the property market is still depressed. The Association of Spanish Property Agents (API) has also warned of another bubble in the making, and called on the Spanish Government to take measures to head it off. It wants increased market transparency and consumer protection to make the market safer and more stable and avoid a repeat of the disastrous consequences of the last boom and bust. Diego Galiano, president of the association, claims that the bad practises so common in the last boom are starting to appear again, making Government intervention necessary, including tightening up mortgage lending. ‘The API association has a vested interest in exploiting fears of another bubble to call for more regulations if it means more members and fees for the association, and less competition. But I have to agree that regulation is necessary,’ said Stucklin. ‘Almost anyone can set up as a broker in Spain, so professional standards can be dismal, especially when it comes to selling property to foreign buyers. In the last boom some of the biggest companies in the business were nothing more than unscrupulous hard-sell operations, and I hear that some of the key players from those companies are back in business preying on unsuspecting buyers in the new cycle. When sales boom, and especially when bubbles form, unsuspecting foreign buyers walk into a minefield,’ he added. Article provided courtesy of propertywire.com

Issue 23 Sept 22 - Oct 05, 2016

WEEKEND WORLD - 37

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