Property
be Ma s m t p laga ag ro ’s az pe in rty e
www.theolivepress.es
www.theolivepress.es
Issue 26
February 2019
13
We uncover Spain’s most iconic frescos, from the dark ages to the 21st century, see Fab Frescos page VIII
February 13th - February 26th 2019
From medieval to modern As Spain adds 11 new towns to its ‘most beautiful’ list, we explore how their unique architecture helped get them there, see Belissimas page XXVI
LET IT GROW SPAIN’S property market is expected to continue growing for at least another two years, experts have predicted. According to a leading Catalan institute, ITEC, there will be no slow down until at least 2021. It comes after last year saw sales reach their highest since the 2008 crisis, with a 9.7% year-to-year increase from January to September. Meanwhile, the number of sales in October rose by a huge 17% compared to the same month in 2017, according to official government statistics (INE). New home sales were up 15% to 7,971 and resales up 17% to 43,536.
Expansion for two more years, as market approaches growth of 17% this winter
Growth was particularly strong in Murcia, up 53%, and interestingly, Sevilla province saw a 50% spike. Growth was also strong across the board in Catalunya, and Barcelona in particular with a rise of 31%. And it was hotspots like the Costa del Sol and Costa Blanca which
continued to be in the top three destinations for property investments in the world for Brits. The only regions where sales fell were in the Canary and Balearic Islands, the latter of which saw a significant 3% drop in the last quarter. Meanwhile, the Spanish house price index published by Tinsa, Spain’s biggest appraisal company, showed prices in the big cities such as Barcelona and Madrid were up 9.4% in November. The Mediterranean coast shot up 7.8%, and the Balearic and Canary Islands up 2.3%.
II14
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
Land of contrasts
Spain’s property growth could be slowing down - with some regions seeing growth of 25%, while others are 50% down, but generally the country is still in a strong position, writes Mark Stucklin
T
HE number of Spanish home sales inscribed in the National Land Registry rose by 3% in November last year compared to the same month in 2017. There were 38,084 Spanish home sales inscribed in the Land Register in November, and 42,150 if you include subsidised homes (known as VPO), all according to the latest figures from the National Institute of Statistics (INE), based on data from the Spanish Land Registrars’ Association. The Spanish market has been growing since it started to recover in 2014, but the recent figures suggest that growth is starting to slow down, as one would expect it to one day. The average sales growth over the first 11 months of 2018 was 12%, compared to 16% in 2017. New home sales were up 8% to 8,043 and resales up 3% to 34,107, both in positive territory as they have been al-
most every month since August 2017. By region, November was a mixed bag, with sales up strongly in small markets like Cantabria and Asturias in the north, as well as isolated, but beautiful Teruel, in Aragon. The province of Girona, in Catalunya home of the Costa Brava - also had a good month. In contrast the Andalucian province of Huelva, home to the Costa de la Luz, suffered a 54% decline in sales (ED: This is amazing, if true, given I know the area well and many of my agent clients and friends say it has been pretty steady there). Looking at how sales changed on a year-to-date basis (11 months) in regions that attract the most attention from foreign buyers, interest was up in all regions bar the Balearics, where sales fell 3% (see above right). Growth in sales was also comparatively weak in Catalunya, possibly due to the political
SALES: Teruel came out top, while Balearics saw a 3% drop while (below) January saw the best sales last year
situation. Murcia deserves a mention in dispatches for it’s 24% growth. Despite it’s romantic name, rugged landscape, and sunny climate, Murcia is a bit of a backwater that is popular with British buyers, perhaps because of the marketing efforts of mega-developer Polaris World back in the boom years. Had it not been for Polaris World spending big on marketing in the UK before it succumbed to the Spanish property crash, Murcia might not be on the radar of British buyers as much as it is. A new airport in Murcia that has just become operational might boost foreign demand for the region over time. Visit Spanishpropertyinsight.com for more information
VILLAS FROM 995,000€ Occupation Spring 2019 Bedrooms: 3-4 / Bathrooms: 3.5-4.5 Build: 160 - 225 m 2 / Plots: 553 - 758 m 2 Atalaya, Estepona www.arboledavillas.com
VILLAS FROM 1,075,000€
Las Perlas de Monte Biarritz
With building licence Bedrooms: 4-6 / Bathrooms: 4-5
Build: 386m2 Plots: 1221 m 2 Atalaya, Estepona www.lasperlasdemontebiarritz.com
www.theolivepress.es
February 13th - February 26th 2019
February 2019
A SERIES of iconic 20th century images have been recreated for an original advertising project, selling homes on the Costa del Sol. The brainchild of developers Urbania, the photographs have been superimposed and re-imagined alongside vistas of the development, Higueron West 217, between Benalmadena and Fuengirola. The snaps include the legendary Abbey
INSPIRED: Green belt
Door-todoor binmen
AN entrepreneur has launched a new refuse collection service that comes to your front door. The trash-collection service, Mi Basura, is now operating in Benalmadena, having already established itself in Sevilla, Huelva and Jerez de la Frontera. Founder Francisco Jose Novalio, 48, from Sevilla, insists the service has been very popular and he already has thousands signed up in the Costa del Sol resort. He collects the rubbish from 3,500 homes in one urbanisation alone. He insisted ‘lots of people’ were too lazy to dispose of their rubbish, while many older residents were ‘too scared’ to go out at night. The service costs €10 a month per house.
Line it up!
Turning heads Road photo featuring The Beatles, and one of Audrey Hepburn in Breakfast At Tiffany’s looking through a glass window. In the Abbey Road photo a group of builders dress up like the original Fab Four crossing a road in the development, with a dozen vintage cars from the era in the background. Another uses Alfred Eisenstaedt’s famous photo of a sailor kissing a girl during the VE celebrations in New York. The resort, set to open in 2020, is bidding to be one of the most environmentally-friendly developments ever with a 100,000m2 ‘green belt’ at the forefront of its marketing campaign.
ICONIC: Abbey Road shot
KNOCKDOWN DEAL!
THE mayor of Marbella is pushing to get a train line from Malaga along the coast ‘as quickly as possible’. Angeles Munoz (below) believes it is a vital infrastructure project for the key Costa del Sol towns. “It’s really important for Marbella, but we have to push, everyone has to push to get it built,” she told a meeting of expats at the Beach House restaurant, in Elviria. She added that she wanted a stop for the hospital, one for San Pedro and one for central Marbella. She admitted the project would cost ‘a lot of money’ at around two billion euros, but that technical studies were already underway. She also promised that security would be improved in Marbella this year with 35 extra policemen contracted, as well as 30 more traffic cops.
British pensioners set precedent in getting demolition order suspended on their home
AN elderly British couple have ‘set a precedent’ by getting a demolition order on their house suspended. Pensioners Noel and Christine Payne emerged victorious after a 16-year legal battle with the regional authorities. It came after the couple in their 70s were granted an all-important AFO on their home in Almeria. The so-called AFO (asimilado fuera de
ordenación) grants the retired expats ‘semi-legal’ status on their house in Albox after it was built illegally. The pair moved into their Andalucian dream home in 2003, but have been fighting for its protection ever since. Their anxiety increased substantially when nearby homeowners, Len and Helen Prior, also in their 70s, had their home demolished on an order from the Junta in 2008.
Going up-ski THEY have become one of the key growth markets along the Spanish costas over the last decade. Thanks to the golden visa scheme tens of thousands of Russians have now bought homes in key resorts such as Marbella, Estepona and around Mallorca and the Alicante region. So it was only a matter of time before they started to build their own churches. After one went up in Altea, Alicante, last year, a new one is starting to rise up in the hills near Estepona. The €1.1m project, in the Selwo area, was designed by Tobal Architects, in Marbella, and is being built by Jamena and is due to be finished by the end of the year. The church will be called the Templo de la Ascensión de la Ortodoxa Rusa and
III 15
on the 14,000 metre plot it will have a cultural centre and a park. The building will be a contemporary in-
terpretation of a traditional orthodox church with a golden dome and will be able to fill 500 worshippers.
Dole them out TRAILBLAZERS: British expats
Maura Hillen, president of illegal homes action group AUAN, believes the ruling is a ‘positive’ sign of things to come. “We hope that judges will see this case as a precedent for others going through the courts in the future,” she told the Olive Press. It comes after the couple’s lawyer, Gerardo Vazquez, who also works with AUAN, used a new piece of legislation introduced in 2015. Article 108.3 recognises that the demolition of a home built in breach of building codes is not the only route to restoring its legality. “There are some common sense solutions out there, we just have to get them into law,” continued Hillen. “With this case it’s all credit to Noel and Christine for sticking to their guns. “If there is a demolition, it is very damaging for the community and there is a lot of human misery involved.” The Priors were finally paid a settlement of almost €236,000 by Vera Council, last year.
AN Andalucian town hall is splashing out €2 million on council housing. Fuengirola is set to purchase dozens of private homes worth up €150,000 each and rent them out to lower income families. The homes must be free of debt and will have a minimum 40 square metres in size. Each purchase must represent ‘good value for money’.
Fruits of corruption A NEW language school is being built thanks to more than €1 million recovered from the Malaya corruption case. The EOI Marbella language school will move to a new 1,000-square metre site next year in Edificio Feria. Its current location will be turned into 12 apartments made specifically for younger people in the area to rent. Meanwhile up to 1,800 students will be able to attend the new school.
IV 16
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
made it big times There’s no surprise this Balearic beauty has caught the attention of house hunters across the pond
A
SPACIOUS: This finca sits on 60 acres of lush landscape
STUNNING Mallorca finca has featured in the New York Times. The rustic farm property is set on 60 acres just outside Llucmajor and dates back to the 14th century and was the centrepiece in the American newspaper’s House Hunting in Spain feature this month. The property is surrounded by a stone wall and has many features and structures created from local stone, mortar and cement. And if you can afford the €6.9 million price tag, you will get a three-bedroom villa, guesthouse, separate casita with one bedroom, a pool house, spa and fully equipped stable house with two bedrooms. Elsewhere the property boasts several covered and uncovered terraces, as well as orchards, riding trails, a large garage and swimming pool. And if you love your flora, feast your senses on the myriad of species, with orchards of almond, orange, lavender and olive trees adorning the property. The property is listed with Sotheby’s International Realty.
www.theolivepress.es
February 13th - February 26th 2019
17
VI 18
PROPERTY
www.theolivepress.es
Pole Position O February 2019
N a key strategic corner of central Marbella, an elegantly-dressed lady holds court, surrounded by half a dozen men. “Hola Guapa,” shouts another from across the street, while a pair of bankers in pinstripe suits and ties sit patiently waiting for her in the conference room. Welcome to Kristina Szekely Sotheby’s Realty’s brand new agency.
HOLDING COURT Kristina with clients
Wall to wall glass, travertine marble floors and the distinctive navy blue signs, this is exactly what you would expect for one of Spain’s most experienced expat agents. Now in five separate bases, including Puerto Banus, Gibraltar, Sevilla and Sotogrande, the agency is clearly doing well. It certainly looks this way at the new office, where a team of agents beaver away on phones and writing emails, while a pretty receptionist smiles and offers everyone tea and biscuits. It only opened last month and is a good barometer of the year ahead for the company, believes Kristina, who has lived in Spain for over four decades. “It’s strategic to cover the central Marbella area and great for listings,” she explains. “I spotted it available on a Saturday, and again the next morning. It really got me thinking. Then when I drove past it again on Sunday evening, I decided I better stop and get the number to make an enquiry.” Within a few days she had acquired the excellent location just a Golden Mile villa’s length from Marbella’s famous Alameda gardens and right opposite the entrance to the historic old town. “It’s proved to be very positive, with so many friends and former clients popping in since we opened,” she continues. “There are plenty of people round there who have known me for 20 to 30 years and some families, who I have worked for for three generations. “One came in and told me I had sold his mother’s house and really recognised the effort I had put in some decades back,” she continues. “Hopefully he will use us when he comes to sell his home.”
February 13th - February 26th 2019
Kristina Szekely has just opened a brand new office in the nerve centre of Marbella, writes Jon Clarke
CORNER AGENCY In Calle Ricardo Soriano
She has decided to open the new office to service the key part of Spain’s most exclusive resort, already having an office in Puerto Banus port. A far more intelligent woman than many give credit for, she is a clever operator who understands the market better than most. “We have had various people coming in looking for hotels, car parks, even petrol stations. They know the returns on the coast are easily 5% per year, compared to much less in other areas.” She continues: “Ricardo Soriano is also the international hub for lawyers and many other businesses. This is the financial district of Marbella and important to be seen here.” Visit the new office at Calle Ricardo Soriano, 5, Marbella, or contact the team via www.kssir.com or 952772000 or 952810102
WELCOME Kristina at new Marbella office
ANDERS@ABCPROPERTYEXPERTS.COM GERRY@ABCPROPERTYEXPERTS.COM WWW.ABCPROPERTYEXPERTS.COM
MOBILE: (+34) 627 241 313 MOBILE: (+34) 603 150 995 OFFICE: (+34) 952 001 100
WE ARE A SCANDINAVIAN OWNED COMPANY THAT SPEAKS MULTIPLE LANGUAGES
We find the perfect property for you and we will help you all the way from start to finish, all the way ABC. €189,000
€250,000
€710,000
€405,000
Manilva – Ref: ABC7323
Sotogrande – Ref: ABC2734
Estepona – Ref: ABC6630
Estepona – Ref: ABC4982
Bedrooms: 3 Bathrooms: 3
Build: 115m2 Garage: 2 spaces
A fantastic 3 bedroom townhouse with breathtaking views of Gibraltar, Morocco and Sotogrande Marina. Only a few minutes’ drive from the local top 18-hole golf courses and minutes away from the Santa Maria Polo Club. Three spacious en-suite bedrooms, internal lift from basement garage to house, upper bedroom with access to solarium, large lounge area, fully fitted kitchen, air conditioning/heating units and swimming pool.
Bedrooms: 3 Bathrooms: 2
Build: 176m2 Garage: 2 spaces
Price just reduced for a quick sale. Top floor apartment with stunning views towards Gibraltar. This amazing frontline golf property has beautiful views overlooking golf sea. Spacious interiors with large sunny terraces comes with a jacuzzi. La Alcaidesa is very well known for the golf course which is only few steps away. Built on 4 levels with lots of natural light with a big terrace and BBQ area.
Bedrooms: 4 Bathrooms:4
Build: 356m2 Garage: 1 space
Newly finished villas, modern design, high standard, several types, sea and golf views. Villas of 356m2 build with top quality materials and finishings. All opposite the La Resina golf course. Plots from 612m2 to 766m2 with terraces, 4 bedrooms, 3-4 bathrooms, 1 toilet, integrated dining/living room, furnished kitchen and wash room, air conditioning, underfloor heating, indoor garage plus outdoor parking, private infinity pool.
Bedrooms: 2 Bathrooms: 2
Build: 107m2 Garage: 1 space
The Campanario Hills is located i Estepona, a charming seaside town, just a few kilometers from San Pedro de Alcántara, Puerto Banus and Marbella. The luxury of this development is not only found inside the apartments. The complex has a state-of-the-art, gym, spa, Turkish baths, pressure jet shower and a relaxation area. Also offers a large communal infinity pool as well as a children’s pool located in a completely safe area.
www.theolivepress.es
February 13th - February 26th 2019
NEW LISTINGS
Tel: +34 951087933
WE ARE HERE FOR YOU - ASK FOR MORE INFORMATION
BENAHAVIS
BENAHAVIS
NEW VILLA · 1.790.000€
·Ref V1345
·Beds 4/ baths 5
·Built 426m2
·Terrace 151m2
·Plot 1.070m2
·Pool 56m2
·South facing
·Sea views
·Close to golf
NEW VILLA ·1.590.000€ ·Ref V1337
·Beds 5/baths 5
·Built 606m2
·Terrace 248m2
·Pool 69m2
·Plot 1.772m2
·Sea views
·Car parking
DUQUESA
GUADALMINA ALTA
VILLAS ·From 495.000€
·Ref V1338
·Beds 4-5
·Built 424m2
·Terraces 144m2
·Pool 32m2
·Plot 519-654m2
·Sea views
·Eco design villa
VILLA ·1.395.000€
·Ref V1345
·Beds 7/ baths 7
·Built 342m2
·Terraces 156m2
·Plot 510m2
·Pool & BBQ
·Sea views
·First line golf
·Close to centre NAGUELES
COSTALITA
REFORMED VILLA ·1.598.000€
·Ref V1346
·Built 471m2
·Plot 522m2
·Beds 4/baths 5
·Cinema, sauna
·Double garage
·Sea views
·Close to golf
APARTMENT ·699.990€
·Ref A1344
·Beds 3/ baths 2
·Built 180m2
·Terrace 30m2
·Storage 12m2
·First beach line
·Garden apt
·Sea views
·Close centre
More New Developments And Resales Properties On Our Website! Telephone: +34 951087933 Email: info@elegantmarbellaestates.com Website: www.elegantmarbellaestates.com Avda Manolete 1, C.C. Centro Plaza, shop 5 Nueva Andalucia, 29660 Marbella
19
VIII 20
www.theolivepress.es
February 2019
Fab frescos
F
ROM cave paintings to church frescos to modern murals of epic scale, countless artists have left their brush marks on Spanish architecture down the centuries for
PROPERTY
February 13th - February 26th 2019
After a fresco was uncovered in Estepona, we look at the tradition in Spain visitors to enjoy today. These are not all frescos in the strictly technical sense but whether classical or street art, some Spanish murals are downright impressive.
Sistine Chapel of Extremadura Looks are deceiving … If you came across this modest shrine in Badajoz, you’d never guess it houses a treasure known as the Sistine Chapel of Extremadura. Olive trees and streams surround the Shrine of Virgen
Madrid’s Goya dome Abbey El Escorial The historic home of the Spanish monarchs has as many impressive frescos as it has legends. From this colossus reigning over the city of Madrid from its northern hills, King Felipe II could sit in the library and ponder art representing the seven liberal arts: Rhetoric, Logic, Music, Grammar, Arithmetic, Geometry and Astronomy. The majority of the El Escorial frescos were painted by the 16th century Italian sculptor and mural painter Pellegrino Tibaldi.
Frying pan masterpieces IT is Spain - and Europe’s - hottest place in summer… and Ecija, in Sevilla, also counts on some of the most beautiful frescos in the coun-
try. The ones painted on the Palacio de Penaflor are 60 metres in length and were created by artist Antonio Fernández in 1764.
del Ara in Fuente del Arco. For a chapel in the middle of nowhere, it’s surprisingly large but the whitewashed walls give no clue to the magnificent polychromic frescos that lie within.
Saint Louis of France frescos
The Royal Chapel of San Antonio de Florida boasts a jewel to match its regal name - ceiling and dome frescos by the great Francisco de Goya, painted in 1798. They depict Saint Anthony of Padua raising a man from the dead to free his innocent father from murder charges. They took Goya just six months to complete.
Recently restored, the church of San Luis de los Franceses in Sevilla showcases some of the finest examples of Spanish Baroque art in the country. It’s not so famous for its quantity of frescos as for their harmony with the architecture. With ornate artwork rampaging over arches, domes and cupolas, completely disguising supporting pillars, it’s difficult to see where the painting ends and the church begins.
Frescos of Abdon de Paz A series of 17th century religious frescos recently discovered by accident when the owners of the house in Abdon de Paz Plaza, near Toledo, was doing it up. The whitewashed walls of the traditional patio home hid awesome paintings depicting the parable of the Prodigal Son and other religious scenes. The family renovation project continues, this time with the help of an archeological team.
St. Antony of the Germans fresco frenzy Founded in Madrid by Felipe IIl at the beginning of the 17th century, the church of San Antonio de los Alemanes is one huge wall-to-wall fresco. It’s also the only church in the region with an elliptic form. Originally built alongside a hospital for Portuguese
migrants, it was later rededicated to German immigrants The frescos are by Luca Giordano and Francisco Ricci - the former a prolific Neopolitan court painter renowned for his speed of painting, nicknamed Luca fà-presto (Luca-get-it-done-fast).
www.theolivepress.es
February 13th - February 26th 2019
IX 21
February 2019
Penelles Art blooms in the most extraordinary places and surprises wait around every corner in this Lerida (Catalunya) village. Penelles may count only 500 inhabitants but this pint-sized pueblo has become a reference point for street art and painters from all over Europe come here to leave their creations. Many of the murals tell the story of the town and its residents - like El tato and El sison, a native bird from Lerida.
Fresnedillas’ Living Houses Fresnedillas de la Oliva used to be a ghost village, like many other pueblos in northern Madrid abandoned by their inhabitants for jobs in the city. To encourage people back, the town hall devised the
Casas con Vida project to restore the dilapidated village houses. The artist Elena Parlange was commissioned to embellish them and her stunning murals lend a bright new tone to the village.
El Provencio’s comic walls
Galactus lives on the walls of El Provencio, in Cuenca, along with Silver Surfer, Captain America and other comic book heroes. The origin of these original artworks was the Comic Walls initiative organised during the International Comic Convention. Hosted in July, it attracts fans from all over the country who agree, El Provencio is a comic ‘Marvel’.
Fresco faux pas The Ecce Homo in the Zaragoza village of Borja is famous for all the wrong reasons. It was just another of many sacred paintings found across Spain until 2012 when a well-meaning resident decided to do a bit of restoration work, with hilarious results. The Christ figure on the canvas took on a more comic look and became the laughing stock of the Internet. But this previously unknown village is laughing too, all the way to the bank, having welcomed more than 200,000 visitors since.
& D E D NS IFIE E C T LI ER C
Do you want to gain fast Worldwide Exposure and distribution for your Real Estate properties? Increase your marketing power and promote your business through both video and photography
We also offer: Aerial Video & Photography for hotels, resorts, golf courses, marina’s, restaurants, wineries, commercial properties etc.
A Web Video Tour is the Future and the ultimate way to promote Real Estate properties. Stand out from the competition and contact us today!
NITROSHOOT MEDIA WWW.NITROSHOOTMEDIA.COM
SALES@NITROSHOOTMEDIA.COM TEL: + 34 611 312 434
X22
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
Chic retre
RURAL: The idyllic Portugal resort overlooks the sea
T: +34 956 793 200 E: info@sotograndesales.com www.sotograndesales.com
SOTOGRANDE COSTA KINGS & QUEENS - S323 Beds 7 · Baths 7
Bristow Property Group SL Locales 16/17, Galerias Paniagua Sotogrande 11310, Cadiz
Build 549 m2 · Plot 1928 m2
€2.600.000
SOTOGRANDE ALTO FRONTLINE GOLF - N398
SOTOGRANDE ALTO FRONTLINE GOLF - N408
Beds 5 · Baths 5
Beds 5 · Baths 5
Build 360 m2 · Plot 1.070 m2
Build 620 m2 · Plot 3.859 m2
€1.325.000
€3.200.000
www.theolivepress.es
eat
February 13th - February 26th 2019
XI 23
February 2019
Famous nightclub designer behind stunning new resort THE man behind Marbella’s iconic Valere nightclub has launched an idyllic new resort in Portugal. Located in the heart of the picturesque village of Comporta, Quinta da Comporta is the new sustainable signature project by renowned Portuguese architect Miguel Cancio Martins. The collection of dwellings is described as a ‘tribute to the cultural heritage of Comporta, built from the love and respect its author feels for the location’. Providing an authentic local experience and high quality service, Quinta da Comporta’s 73 spacious double, deluxe and duplex rooms, suites and pool villas, create the perfect resort for a ‘genuine journey inwards’. Its website explains: “Infused with a contemporary feel, simplicity unveils elegance in every detail and invites you into a deep retreat, where wellness and tranquillity play a leading role. “Discover a new sense of belonging and create authentic memories at Quinta da Comporta.”
TRIBUTE: Martins aims to refelct the culture of Comporta in his new resort, a tranquil and trendy village in Portugal which provides the perfect private getaway
Thinking of Buying or LET´S CONNECT Selling? 951 490 503
info@rightcasa.com
All Property Types Sought For a Range Of Client Needs Marketed Internationally Across Major Internet Ad Portals w
Monthly Vendor Updates Using Latest Data Analysis Tools Highly Motivated Professional Sales Team
Discuss all your property requirements at our Calahonda Office - Calle Merida de Jarales 14, Centro Commerical Jarales de Calahonda, Mijas Costa, 29649
Visit our Website at www.rightcasa.com - Email: info@rightcasa.com
XII 24
PROPERTY
www.theolivepress.es
February 2019
Noguel de Higueron, Benalmadena
February 13th - February 26th 2019
Golden
€545,000 Ref: 9731962_ 40200150 Bed: 4 Bath: 3 Fine & Country
I
A property shopping list for those Britain and have a cool €500,000
S Brexit getting you down? Is your country - like Britain - suffering an existential crisis of identity, resulting in bouts of uncertainty, xenophobia, confusion and stress? Then why not buy a Spanish residency for you and your family? That’s the option available to the wealthier citizens of the world
Sotogrande
Benidorm, Alicante
€505,000 Ref: PIER2-1640 Bed: 2 Bath: 2 Holmes Sotogrande
€500,000 Ref: CH00127
Bed: 5 Bath: 4 Idealista
www.theolivepress.es
February 13th - February 26th 2019
XIII 25
February 2019
ticket
who want to escape Brexit spare
thanks to Spain’s so-called Golden Visa programme. It means ANYONE and their family can become Spanish residents if they invest a cool half a million into the country’s real estate sector. So if you’re shopping for a new country, we’ve rounded up what €500,000, or thereabouts, can get you in Spain’s hottest property markets.
Mallorca €595,000 Ref. 65831 Bed: 1 Bath: 1 First Mallorca
Trafalgar, Madrid €540,000 Ref: 81807543 Bed: 2 Bath: 2 Idealista
El Poble Sec, Barcelona €515,000 Ref: W-02EXEU
Buy or sell a Span ish No estate agency
property privatel y.
fees to pay.....
Bed: 3 Bath: 3 Idealista
Spanish Properties Direct
Buy or sell a Spanish property privately. No estate agency fees to pay..... STEP 1 YOU
STEP 2 WE
STEP 3 WE
Provide photos, property description & details
Create your advert, brochure & market your property
Connect you directly with potential buyers
STEP 4 SOLD
Contact us today to discuss how we can help you sell your property commission free hola@spanishpropertiesdirect.com | +34 622 142692
www.spanishpropertiesdirect.com
XIV 26
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
Advertorial
Facts are facts
Malaga law firm is hitting Spain’s timeshare resorts hard WE revealed in our last article how Malaga based law firm Maxima 1 Legal S.L. (M1 Legal) is now regulated by the Claims Management Regulator in respect of regulated claims. Now we can report that M1 Legal ended the first month of 2019 on an all-time high resulting in NINE client victories totalling £152,451 PLUS two Club La Costa appeal victories.
●● Continental Resort Services (Club La Costa): £29,556 awarded ●● Leisure Dimensions x 2 : £14,050 awarded ●● Anfi Group awarded
x 3 cases: £49,271
●● Marriott Vacation Club: £33,992 awarded ●● Anfinpan: £7,985 ●● Diamond Resorts: £17,597
FACT NOT FAKE!
Fake news currently being circulated by Club La Costa to their members is both defamatory and unprofessional. It is shocking that a company would go to such lengths to discredit another company. To prove the point we go back to the evidence which is FACTUAL: Would M1 Legal now be regulated if they were fake? Maxima 1 Legal S.L. is regulated by the Claims Management Regulator in respect of regulated claims management activities under registration number: CRM44126
Appealing Victories! Club La Costa (UK) Sucursal en España
M1 LEGAL TEAM IS GROWING Some resorts are stating that Maxima 1 Legal S.L. (M1 Legal) are not real lawyers and we would like to address this statement.
●● M1 lawyers are registered with the Bar Association and are qualified to pursue all types of claims in the Spanish courts. ●● M1 are now regulated by the
Claims Management Regulator in respect of regulated claims under the registered company name Maxima 1 Legal S.L. ●● M1 are in possession of every judgment issued by the courts Current Cases ●● 510 cases in the courts (197 are against CLC amounting to £4.8 million) ●● 256 cases being prepared for submission (66 are against CLC)
Furthermore, after an initial court decision that the case did not fall under Spanish jurisdiction, M1 appealed the decision which was reversed HOW WE TOLD: Last issue by the Malaga Court of Appeal. The defence argued that the in the proceedings against them case should not be heard in Spain was to extend the case as much claiming that the contract fell under as possible. In order to do so, English law. The appeal judge ruled they submitted an objection that the contractual party i.e. Club based on jurisdiction stating la Costa (UK) Sucursal en España is that the Spanish Courts are not a Spanish entity and the case should competent to deal with the case. be heard in Spain. We can now In this instance, their specialised confirm yet another appeal victory lawyer as well as the Public regarding the same contractual Prosecutor defended the Spanish party has been won through the jurisdiction to deal with this lower courts. case. The Court has dismissed the appeal filed by CLC (Paradise Paradise Trading S.L. Trading S.L.) and it will be resubmitted through the lower Paradise Trading’s main strategy courts.
For any timeshare enquiries regarding this story call 0034 951 562 209 or email sharon@m1legal.com
PROPERTIES SELLING FAST AT THE SPANISH ESTATE AGENT! Thinking of Selling? Get in touch with The Spanish Estate Agent – the fastest growing agency on the Costa del Sol
Phone us now on +34 951 516 905
It’s your move! • Properties urgently needed for eager buyers • Tap into our worldwide, award-winning marketing • Dynamic, motivated and professional sales team Come and discuss your property with our friendly sales consultants at Avenida Espana 250, Estepona 29680. Or visit our website at www.thespanishestateagent.com Email info@thespanishestateagent.com
www.theolivepress.es
February 13th - February 26th 2019
27
fairways@startgroup.com www.fairwayslacalagolf.com Agents welcome!
OVER 50% SOLD!
2 bedroom apartments with 55m2 terrace from only €285.000! Welcome to Fairways, La Cala Golf! Fairways is a new development that consists of 54 modern 2 and 3 bedroom apartments and duplex penthouses with the best possible views over the La Cala Golf Course! •
Surrounded by golf
•
Apartments with private gardens
•
Modern design
•
Middle floor apartments with private roof terrace
•
Private gym and spa
•
Duplex penthouses with private pools
•
Huge saltwater pool with beach entry
•
Enquire today! 50% already sold!
STARTGROUP proudly present Fairways La Cala Golf On behalf of the Marbella based developer Exxacon, STARTGROUP are carrying out the sales and marketing for this exciting new development. Launched in April 2018, Fairways is ALREADY OVER 50% SOLD!! The plot sits right on Campo America; one of the three 18-hole championship golf courses that La Cala Golf has to offer. Fairways has uninterrupted and exclusive views over the golf course; the front view taking in holes one, two, and three, and the duplex penthouses will also enjoy views of holes five and six. Fairways’ elevated position also offers distant sea views, as well as taking in the villages of Mijas and Fuengirola. The modern design of this project is just the beginning - Exxacon have focused on creating luxury living inside with 54 apartments spread over nine blocks, with six apartments per block. The ground floor apartments offer huge 70-metre terraces and varying sized gardens, as well as a back terrace, while first floor apartments boast large terraces off the lounge and bedroom, and an extra south facing terrace, elevated to the same level of the penthouse. And finally, the duplex penthouses (both two and three bedroom) offer terraces on both levels, with the top floor of the apartment consisting of master bedroom en-suite and a wrap-around terrace of 40 metres. The three-bedroom penthouse also offers a plunge pool, outdoor shower and two parking spaces as standard.
Fairways will be an exclusive gated community, with visitor parking and underground parking for all residents. Garages will offer storage and an area for golfers to clean their clubs and equipment, as well as electric car charging points. In the communal areas there is a large 198 square metre infinity swimming pool, luxurious wellness centre, with large Jacuzzi, a fully equipped gymnasium and sauna. For the keen golfer, Fairways has no less than 16 golf courses within a 25 kilometre radius. Commonly known as the “Costa del Golf”, you will never be far away from a new challenge on the golf course. Located just an 8-minute drive from the very popular village of La Cala de Mijas with its bustling atmosphere, Fairway is also just down the road from La Mairena and Elviria, both of which offer up a host of great bars and restaurants. Glamorous Marbella is only minutes further afield, while busy Fuengirola is just a 20-minute drive away, and Málaga 40 minutes. With current prices starting from €285,000, owning an apartment at Fairways might be closer to reality than you may first imagine. Building license due anytime with a build start date by END MARCH 2019 and COMPLETION date of Q3 2020.
For further information or to book a viewing, please call (+34) 637 008 455 or e-mail fairways@startgroup.com
XVI 28
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
Stunning House refurb revives the art of local craf and slashes €€€€ off the bill, writes Jon Clarke
W
EXQUISITE: Indian marble reception and outdoor tables, while (right) Guy and Lucy
ITH its forest-green marble reception desk, 400-year-old red pine doors and hand-painted wallpaper from London, one might have expected the recent renovations at Marbella’s Beach House restaurant to have cost as much as a private Caribbean atoll. On the contrary, its resourceful British owners Guy and Lucy McCrow went the selfbuild route, sourcing the materials and using just local tradesmen and their very own team to create the new look. The end result is spectacular… dramatically
increasing the value extend rant guests by means of a perience something which w been economically viable h contracted out. “We created the wine cell ceilings, laid the floors and
www.theolivepress.es
ftsmanship
ded to all restauan enhanced exwould never have had the job been
lar, installed the d even ended up
February 13th - February 26th 2019
February 2019
New dawn building our own chairs and tables,” exp- designing bespoke pieces for the five-star lains Guy, 35, from Hertfordshire. Puente Romano hotel, and local upholsterer This is perhaps not surprising after receiving Paco who’s attention to detail is astonishing. countless quotes for contemIt is a similar story with the beauporary, commercial grade furtiful reclaimed doors, which lead niture which were way out of the charming pool and garAccess to such into their budget. den of The Residence, their all “€1000 chairs may be ac- specialised skills new bed and breakfast venture. ceptable in a Zagaleta dining a short investigative stint as an individual After room, but we needed lots of that would have given David Dicthem and we were definite- is unthinkable in kensen a run for his money, they ly not about to compromise” salvaged a pair of antique doors London continues the friendly fatherfrom a reclamation yard in Monof-three, who has lived in tes de Malaga. Spain for over a decade. “Made from the same cut of AnThey ended up using friend and specialist dalucian red pine felled to build the Spanish metal worker Will, who is normally found Armada,” explains Lucy. “the chap who salvaged them even insisted on installing frames of the same age to ensure perfect harmony.” Perhaps the single greatest example of local expertise are the stonemasons who were responsible for the book-matched, rain forest-green marble which clads the reception, kitchen pass and main bar. “To have access to such specialised skills as an individual would be unthinkable back in London. It’s so refreshing to work with these talented and modest people without the necessity for CAD drawings and horrendous design fees.” And as Lucy so perfectly sums up: “Of course, undertaking a project like this means things take much longer but it also means you get them exactly the way you want them, and exactly the way your clients deserve them.”
XVII 29
WELL APPOINTED: Entrance to B&B and (below) a suite
For more information, visit www.beachhousemarbella.com
Taste of the sea
In kee ping with the Bea ch Hou se’s stun nin g mar itim e location Guy and Luc y cho se ligh t blue bes pok e wal lpap er, des igne d by Ital ian pain ter Pier o Fornas etti , who died in 198 8. Full of fan tastica l fish , it mak es a bold stat eme nt while har mon isin g with the oce anf ron t env iron men t.
XVIII 30
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
an architectural eye English snappers scoop majority of global architectural photography awards
T
HE winners of the global annual Architectural Photography Awards have been declared... and the most prized gongs have gone to a British snapper. Pawel Paniczko from Manchester, was declared the overall winner for his shot of the Long Museum West Bund in Shanghai, China, built by Atelier Deshaus. He beat out more than 1,200 entries across four main categories, grabbing the $3,000 (€2,365) cash prize and gong at the WAF Gala dinner in Amsterdam. The Brit photographer also won the Portfolio category for his shots of the Harbin Opera House in Harbin, China, created by MAD Architects. Compatriot John Pinder from Surrey, won the public vote
WINNER: Panickzo’s portfolio of Harbin Opera House
Sponsored posts on our website with and with an average of 20,000 page links to your site views per day
Fully interactive digital copy of the all advertising seen online globally newspaper containing via Issuu
ur s to Yo ory d 00 er st ote 0,0 low 2 l om ly fo pr ar ok ne bo ce Fa
r ur ou s Yo ory to er st ed llow t o ee 0 f Tw ,00 7 Our Twitter feed gives users direct and every digital newspaper publ access to all our stories ished
s r r nd ou pe sa in pa ou s s Th view new l of ita g di
te ee ial 00 si Fr tor 0,0 eb i 1 w ed ur ay o -d in r-a ito
s vi
When you take out an advertising campaign with the Olive Press, you get a lot more than just the printed newspaper
in the Mobile category for his image of a spiral staircase, taken with a Galaxy S8. The official Mobile category award went to He Zhenhuan, from China, for his shot of an overpass in Chongqing. Andrew Robertson, another Brit, won the Interior category with his image of the Ouse Valley viaduct in Sussex. Elsewhere, Omer Kanipak, from Turkey, won the Buildings in Use category for his shot of the Hive at the Royal Botanic Gardens in Kew, London; and Marco Tagliarino from Italy, won the Sense of Place category with his shot of the Piazza Duomo, taken from the Arengario Balconi of the Palazzo dellÁrengario, Museo del 900 in Milan.
We promote you on our hugely popu 17,000 likes and as many followers lar Facebook page with
The Olive Press gives you more!
www.theolivepress.es
February 13th - February 26th 2019
XIX 31
February 2019
FROM TOP LEFT CLOCKWISE: Robertson’s Ouse Valley, Pinder’s Half Spiral, Pancikzo’s shots of Long Museum West Bund, Tagliarino’s Piazza Dumo and Kanipak’s Kew Gardens
TM
902 123 282 *Offer ends 31/03/19. Not valid for renewals. Subject to conditions.
TheOlivePress-256x170-BIKE-4.indd 1
25/1/19 10:57
32
www.theolivepress.es
February 13th - February 26th 2019
T: +350 20051020 E: info@century21gibraltar.com Unit 3 Royal Ocean Plaza, Ocean Village, Gibraltar
www.century21gibraltar.com
West One - 601
Waterport Terraces - 603
Merlot House - 617
Buena Vista Park Villas – 308
1 bed 1 bath apartment Located on a low floor Fully furnished throughout Large communal pool
2 bed 1 bath apartment Located on a low floor Fully furnished throughout North views to the sea
3 bed 2 bath Located on a high floor Fully furnished throughout 1 lock up storage
4 bed 3 bath townhouse Views overlooking the bay 4 floors Gated community
Genista House – 75
Quay 29 – 635
Vineyards – 625
Gardiners View – 637
3 bed 2 bath apartment Mid/high floor Private allocated parking Views facing Africa/bay
Studio apartment, New development Views over looking town towards the rock, Communal swimming pool, Gym & gardens
3 bed 1 bath apartment High floor 2 lock up Storages + lock up garage Fully furnished
3 bed 2 bath duplex Fully furnished Fantastic views over the bay Allocated pParking
Quay 29 – 633
Ocean Heights – 629
South District – 620
Rosia Court – 639
4 bed 2 bath apartment New development, Views to the West towards the bay, Communal swimming pool, Gym & gardens
2 bed 1 bath apartment High floor West facing with partial sea views Communal swimming pool
4 bed 2 bath house 2 large decked terraces Over 3 levels Parking for 2 cars & 2 bikes
3 bed 1 bath apartment Fully furnished Walk in wardrobe Large patio
Sanderson Suites – 632
£172,500
Ocean Spa Plaza Chrysanthemum – 525
Ocean Spa Plaza Avalon – 528
Quay 29 – 529
Studio apartment Partial sea views Tropical roof garden & spa Central location in Gibraltar
2 bed 2 bath apartment New development, Communal resort style swimming pools & Spa Located on a high floor
1 bed 1 bath apartment New development, Located on a high floor, Communal resort style swimming pools & spa
1 bed 1 bath apartment New Development, West facing views towards the bay, Communal swimming pool, Gym & gardens
£325,000
£700,000
£860,000
£299,995
£220,000
£240,000
£529,500
£330,000
£335,000
£995,000
£420,000
POA
£650,000
£359,000
410,000
PROPERTY Making history www.theolivepress.es
February 13th - February 26th 2019
February 2019
Historic buildings on the Rock recognised for their sympathetic restoration
SILVER: Plata Villa appropriately came second
OUR buildings in Gibraltar have been awarded coveted awards from the Gibraltar Heritage Trust. The first Group Heritage Award went to The Arches, Gibraltar’s old police barracks which has had a
Commonwealth. The second Group Heritage Award went to Plata Villa on Witham’s Road. Originally a private home and then an orphanage, before becoming a school, it also housed Gibraltarian evacuees who started returning to
F
massive facelift. The building in Irish Town is a rare example of neoclassical architecture with Tuscan columns and arcades. The Royal Gibraltar Police, established in 1830, is the world’s second oldest police force and the oldest in the
ARCH VICTOR: The Arches development won top prize
PROJECTS We have exciting residential work happening in Ocean Village, Royal Ocean Plaza, Gibraltar Town and South District. HOME REFURBISHMENT DECORATING GENERAL BUILDING SERVICES RESIDENTIAL & COMMERCIAL Call us on: +350 (0) 200 43222 or email: hello@b2projects.co.uk to discuss your project and get a quote. To see more examples of our work Follow us on: Facebook / Instagram / LinkedIn
www.b2projects.co.uk
XXI 33
Gibraltar in 1944. The building has been subdivided into four private flats in the new Plata Villa development. Meanwhile Grape Vine House at 23 Naval Hospital Road, owned by Gil Podesta, scooped the Individual Heritage Award. And a Special Commendation was handed to Orion House on George’s Lane, a traditional townhouse now converted into four apartments retaining a retail outlet on the ground floor.
OTHER WINNERS: And prizes below
XXII 34
PROPERTY
www.theolivepress.es
February 2019
February 13th - February 26th 2019
God’s work
RISING TO THE HEAVENS: Gallego (inset left) has built Mejorada church from the ground up
Spaniard vows to complete solo cathedral project as 93rd birthday approaches A NONAGENARIAN is vowing to complete his solo cathedral project before he dies. Justo Gallego has been building his tribute to the heavenly father in Mejorada del Campo, on the outskirts of Madrid, since the early 1960s. It came after the former monk was kicked out of a monastery in Madrid when he was struck down with tuberculosis. He fought for his life for many years and promised God that if he pulled through he would honor him by building a church. Initially financed by inheritance, he began his project more than 40 years ago with a 130-foot dome, on a large patch of land his family owned 13 miles east of Madrid. Since then funds have come from parceling off and selling some of the land his family owned and from gifts from tourists, well-wishers, and businesses. Sympathetic construction crews donate leftover materials while paint-factory workers and marble cutters have been known to do the same.
35
www.inlandandalucia.com
www.theolivepress.es
February 13th - February 26th 2019
*includes videos *google street maps *full descriptions *chat box
by our 2017 customer database survey of 13,500. SEE for yourself
VOTED BEST and MOST INFORMATIVE WEBSITE
G R U P O
145.000 €
Puente Salia - Malaga
VL878
49.995 €
Castillo de Locubin – Jaen
130.000 €
Tozar - Granada
TH3952
89.000 €
Alcala la Real - Jaen
48.000 €
Iznalloz – Granada
CH129
A great detached 3 bedroom, 2 bathroom value property offered for sale in very good order and in a great location with superb views. The property was built by an English Builder and is of good construction and sits in the middle of a generous plot.
This spacious 336m2 build 3 bed, 2 bath, well presented townhouse is situated in an upmarket area of the traditional sunny Spanish town of Tozar and offers the opportunity to create a separate apartment with its own side entrance on the lower ground level, or to expand the already large living accommodation.
This 3 bed, 1 bath chalet style corner property is ready to move into and being sold fully furnished. With new flooring the property has internet, electricity and town water connections also being located on the corner of two wide streets you have plenty of parking right outside.
74.995 €
Fuente de Piedra – Malaga
TH3694
This fantastic townhouse is located in the very popular town close to all the local amenities and just a short walk away from the beautiful flamingo lake and nature reserve. This 4 bed, 2 bath property sits within an urbanisation and has access to several swimming pools and community garden areas.
Malaga Office 952 74 15 25
info@inlandandalucia.com
Calle de la Villa 14, 29532 Molina, Malaga
CJ461
This 186m2 build countryside home with 3 double bedrooms and 2 bathrooms is situated on the outskirts of the village of Las Caserias. It has a private garage with a storage room, double gated entrance on to a front patio with mature grape vine and a good size swimming pool.
179.000 € Cartaojal - Antequera - Malaga
CH23
This beautiful rural 3 bed, 2 bath, chalet style villa property is surrounded by stunning countryside scenery. It sits within lovely grounds which include patio areas, a private swimming pool and beautiful garden areas which include fruit trees and terraces that take in those stunning views.
89.950 €
Humilladero - Malaga
TH3888
This large 5 bed, 2 bath family home sits within the bustling town of Humilladero close to all the local amenities. Humilladero has to offer including plenty of shops, bars and restaurants and a local street market every Thursday. The property is set out over 3 floors, with plenty of storage and spacious bedrooms.
Jaen Office 953 58 70 40
contact@inlandandalucia.com
TH3966
This spacious 5 bedroom, 2 bathroom 236m2 build townhouse sits on a generous plot size of 300m2 boasting a large private terrace and good size garden with spectacular views over the town, countryside and to the mountains beyond.
Calle Abad Moya 4b, 23680 Alcala la Real, Jaen
Axarquia Office 952 51 97 18
info@inlandandalucia.com
Cruce Puente D. Manuel 4, Edif. Al Zabel, 29713 Alcaucin
XXIV 36
February 2019
PROPERTY
www.theolivepress.es
February 13th - February 26th 2019
Buy your own pueblo Gwyneth Paltrow recommends it and there are plenty for sale in Spain, writes Michael Doherty of the Woodbrook Group
W CEO: Michael Doherty of the Woodbrook Group
ould you like to own your own village? Spain has a few to spare. They are the forgotten pueblos - once thriving rural communities, now devoid of life, their stone buildings crumbling, their cobbled streets silent. It is estimated there are as many
as 3,000 of these abandoned hamlets, scattered around Spain, particularly in Galicia, Castilla y León, Aragón and Asturias. The actress Gwyneth Paltrow shone the spotlight on such unusual investment opportunities when she recommended buying a deserted Galician village as a Christmas pre-
DESERTED VILLAGE: One of the hamlets for sale and (below) Gwyneth
BRAND NEW: But not in as much demand, as before
Foreign buyers reject new builds
Interest in the property market is at an all-time high with foreign investors, but it seems they’re not interested in new builds, writes Adam Neale
I
N a recent article, newspaper El Confidencial questioned whether there is a problem with foreign home buyers occupying more of the market than ever, without being interested in new-build homes. The publication confirmed that overall interest among international buyers is high, with 53,359 transactions registered in the first quarter of 2018. Some 33,000 homes were sold to foreign buyers in the first half of 2007, just before the property bubble burst. This would suggest we're at an all-time high. But, according to the article, sales of new homes to foreign buyers are at an all-time low across Spain, despite more new projects reaching the market all the time. This means there is increasing competition among modern property developments, and this proliferation of choice may be one of the reasons why they don't sell as quickly as before.
Prices are a contributing factor One factor is the rise in property prices, which due to limited land and growing construction costs, have increased significantly and more rapidly than those of resale homes. The latter are now seen to offer a lot more home for your money. Therefore there has been a notable shift towards resale properties in recent times, and especially in relation to the pre-recession years, when over 60% of all property transactions involving non-Spanish buyers were new. So, while demand is strong many experts worry about the lack of appetite for new homes. Planning delays are another contributing factor A greater worry is the added time and cost caused by building licence delays and maybe this is a frustration that poten-
tial buyers feel as well, prompting them to opt for the easier choice of a resale property ready to move into. There are currently around 200 new projects on the Costa del Sol alone, but if the reports are correct the new flow of developments should begin to slow down considerably. The British, who have always been keen buyers of both resale and new homes in Spain, have seen their share within the foreign buyers' market drop considerably since Brexit. Where once they made up over half of the total, that share has now fallen to less than one-fifth, and this can be another explanation for the lack of interest in modern properties. The state of the overall market is healthy thanks to a revival of the domestic market and strong demand from especially Scandinavian, Belgian and French buyers, but right now it's clearly focused on resales.
Terra Meridiana, 77 Calle Caridad, 29680 Estepona • Tel: +34 951 318480 Office Mob: +34 678 452109 • Email: info@terrameridiana.com • Website: www.terrameridiana.com
sent on her website, Goop. A Dutch couple took up her suggestion and are in the process of clinching the deal for around €150,000. That’s a bit below the average asking-price for these villages although some have sold for as little as €50,000. That expenditure, however, will only get you the deeds to the properties. Most of these villages are in a state of complete ruin and AldeasAbandonadas, a real estate agency specialising in such deals, estimates a price of between €500,000 and €600,000 to make the buildings habitable. Nevertheless, there is considerable interest. Aldeas Abandonadas reports that 70% of clients come from abroad. British buyers lead the way followed Belgians, French and, of late, an increasing number of investors from Russia and Arab countries. Interest from Spaniards is small but growing. It is not easy to secure these purchases since would-be buyers must deal with a number of owners, including some who have left Spain and others who have inherited the property. AldeasAbandonadas and similar agencies will locate the owners and do the necessary paperwork with the public notary, the land register and the local councils. Some buyers plan to set up a tourism business, others to farm while some are simply seeking an unusual retirement haven. If that is your dream, then go for it. However I always advise caution to expats who want to invest in specific properties or property schemes. I am not thinking here of people buying a home for themselves. There are beautiful properties to be had in wonderful Spanish locations, often at very reasonable prices.
But it is one thing to look at a house and decide if it is right for you. It is quite a different matter to assess the market and decide if it is where you want to place your capital. Deserted villages at least have an aura of romance. That can’t be said for every new marina and tourist development but, as an investment, they can prove just as risky. What most expats want is peace of mind and a secure environment in which their money can grow. For that, you need advice. Let me declare an interest here. My company, the Woodbrook Group, is an international firm of financial advisers and, of course, we would be very pleased to handle your business. But whoever you take advice from, make sure it is sound and impartial and do not rush into any investment without knowledge. The Woodbrook Group is not owned by any financial institution or life insurance company. This makes us different from the majority of financial advisory companies and means we can offer you unbiased and impartial advice tailored to your individual requirements.
*For more information, contact our team at the Woodbrook Group Office in Marbella: Av. Ricardo Soriano, 72 Edificio Golden Portal B, 1ª Planta 29601 Marbella, Málaga, Spain. Telephone: +34 952768471 Email: officemarbella@woodbrookgroup.com
February 13th - February 26th 2019
CA N
9 SA 0 VE % M
ON EY *
www.theolivepress.es
PROPERTY IN SPAIN?
Save money on your electricity and get your bill and customer service in English Call +34 916 358 626 Energy Nordic is your English-speaking electricity supplier in Spain. Everything we say and write to you will be in clear, direct English. Should you have any questions, you will always have an English-speaking customer service team ready to assist you. Quite simple! We have an office in Fuengirola and you are always very welcome to drop by. Find out more at energynordic.com
*At the moment 9 out of 10 can save money on their energy bill if they switch to Energy Nordic (based on our current customer profile)
Energy Nordic S.L. C/San Pancracio 18 29640 Fuengirola +34 916 358 626 energynordic.com
37
XXVI 38
PROPERTY
www.theolivepress.es
Belissimas! February 2019
11 new villages have made it onto Spain’s ‘most beautiful’ list, writes Laurence Dollimore
ATTENTION all Instagram addicts! A further 11 new villages have been added to the list of the most beautiful in Spain. The list is created by the Asociación de Los Pueblos Más Bonitos De España (Association of the Most Beautiful Villages in Spain) to celebrate and create awareness of some of the more scenic but under-visited spots in the country. Be sure to add some of these gems them to your getaway list for 2019.
February 13th - February 26th 2019
Níjar, Almería This Moorish wonder is steeped in history and sits between the Sierra Alhamilla and south-east coastline of Almeria. Its sea of white houses and churches make it one of the most picturesque. It’s also renowned for its pottery, new performing arts centre (above) and sits in a stunning natural enclave, right on the edge of the Cabo de Gata Natural Park.
Carmona, Cantabria Nestled in the leafy region of Cantabria. Carmona has been declared an official Historical-Artistic Site thanks to its typical mountain houses which give it its traditional aesthetic. It sits on the picturesque Nansa River and is surrounded by bright green valleys, making it a top contender for Spain’s ‘most beautiful’ list.
Property of the Week
Roda de Isábena, Huesca Estepa, Sevilla - TH3978 79.000€ This beautiful 2 bed, 1 bath townhouse sits within the town of Estepa. It’s been well finished with a ground floor bedroom at the front of the property, a central sitting room with stairwell onto a fully fitted kitchen with plenty of storage.
tel: +34 952 741 525 Calle de la Villa 14, 29532, Mollina, Malaga info@inlandandalucia.com www.inlandandalucia.com
This village, dating back to the medieval period, is the smallest in Spain to have a cathedral. Destroyed in the late 10th century, the holy building was rebuilt between 1053 and 1067 and continued to be remodelled in the 12th century. Today its old refectory has been turned into the restaurant of the hostel that is now located there.
www.theolivepress.es
February 13th - February 26th 2019
XXVII 39
February 2019
Potes, Cantabria This colourful town is located in the centre of the Liebana region in Cantabria. It sits at the confluence of four valleys with bridges and gorgeous views adding to its charm. Its rainbow-coloured homes and buildings are complemented by its Mediterranean climate and walnut and poplar trees. Earthy orujo grape brandy is a local speciality produced by its valley. vineyards.
Setenil de las Bodegas, Cadiz Based in Cádiz, this quaint town is famous for its troglodyte dwellings built into rock overhangs above the Río Guadalporcún. According to the 2005 census, the town has a population of just 3,016, many of whom live in nearby Ronda. The town extends along the course of the Rio Trejo with some houses being built into the rock walls of the gorge itself, created by enlarging natural caves or overhangs and adding an external wall.
San Martín de Trevejo, Cáceres This idyllic village in Extremadura is a heritage treasure with one of the best-preserved historic quarters in Spain. Streams run down the centre of the streets and the roofs of the houses practically touch. Just 15km from Portugal’s border, only 800 inhabitants live here today and speak a dialect no visitor will recognise - Fala - quite different to Spanish and Portuguese though closer to the latter.
XXVIII
February 2019
PROPERTY Bagergue, Lleida Bagergue is first mentioned in documents dating back to the early 14th century when its people swore allegiance to the King of Aragon, however it is much older. Perched high in Catalunya’s Aran Valley at 1,419 m, its parish church of Sant Fèlix dates back to the second century. The sanctuary of Santa Margarita de Bagergue, one kilometer north of the town, is another sight to behold.
Tazones, Asturias Tazones is a beautiful Asturian village set just metres from the sea.The small fishing village, made up of typically Spanish architecture, is wrapped in charm. Once a well-known whaling port, the pueblo clings to the side of the mountains, surrounded by pine trees and eucalyptus. A walk through its network of cobbled streets reveals quaint low-level houses decorated with brightly-painted balconies and windows.
MORTGAGE THINK TANK EUROPEAN REMOVALS & STORAGE
Weekly service to Spain, France, Portugal and Gibraltar St Georges European pride ourselves by professionally serving and relocating families, individuals and businesses across Europe for over 10 years.
St GEORGES
With our fully trained experienced team, reliable fleet of purpose built vehicles and leading Insurance cover, we’ll make your moving experience run smooth and hassle free. To help you, we also have a fully secured storage facility in both Spain and South East UK, just in case you need it.
So come and talk to our friendly team at St Georges European.
SPAIN + 34 952 485 984 UK +44 (0)1322 383 233
trade@stgeorgestransport.com www.stgeorgestransport.com
Olive Press - St Georges European Ad 170 x 124 mm.indd 1
16/01/2019 11:40
by mortgage broker Tancrede de Pola
Bursting bubbles Latest mortgage news shows no bubble is forming in Spain, writes Tancrede de Pola
THERE is no property bubble forming in Spain. That’s the conclusion of property expert Joaquin Maudos from the University of Valencia. And despite the continuing growth of the market over the past four years, according to his latest report, Spain now accounts for just 5% of all mortgages signed in Europe. To put that in perspective, that figure was at 20% just before the bubble burst in 2007. “Despite the recent growth, there is no objective evidence to suggest that a real estate bubble is forming,” concluded the report. The document also highlights that the granting of mortgages has increased by 10% since last April. In the last 12 months, meanwhile, some €43.5 billion were granted in mortgages, while in 2014, in the middle of the crisis, that amount stood at just €21.8 billion. Maudos also added that in the last three months there has been an increase in in-
terest rates. It comes after the uncertainty generated by the back and forth in Spain’s court over who should pay Spain’s version of the Stamp Duty tax, the buyer or the bank. The decision to put the responsibility on the lenders, even if it is just on new mortgages, is believed to be behind the rise in interest rates. The report also compares the weight of variable-rate mortgages in different countries and shows that while in Spain they represent 38%, in other countries such as Germany they are only 11.5% or in France 2.2%. Yet when the crisis started, variable-rate mortgages in Spain represented 90% of all mortgages. The report paints a competitive but positive picture for Spain’s property market. But as ever, to get the best mortgage possible, be sure to hire a mortgage broker like the Finance Bureau, who can read between the small print and has decades of experience and contacts with the main lenders.
To contact Tancrede for all your mortgaging needs call: 666 709 743 or for insurance queries call: 951 203 540 Email: tdp@thefinanacebureau.com The Finance Bureau Centro Commercial Guadalmina, 2nOffice No. 7 Guadalmina, 29670
XXIX
February 2019
Viniegra de Arriba, La Rioja At 1,182 m above sea level, as its name suggests it’s the highest of the Seven Villages of La Rioja. The old quarter is crammed with romantic old buildings dating back to the 17th century but today only 50 local residents remain to appreciate them. However it’s location puts it right on the tourist route for wine lovers. It’s also close to several Unesco World Heritage sites including Atapuerca, the earliest human settlement in Europe.
Bonilla de la Sierra, Ávila Nestled in the heart of the Castille y León region, this once unassuming town has been thrust into the limelight after making it onto this year ’s list. Boasting 15th century gothic churches and buildings, the quaint village is the smallest to receive the accolade of ‘most beautiful’ and, with just 152 inhabitants, one of the least populated pueblos in the country.
Viniegra de Abajo, La Rioja Five kilometres away from its twin sister lower down the valley but with double the inhabitants, the village is a collage of sepia stonework and terracotta tiles. Famous landmarks including the monument to the Sacred Heart of Jesus, located at the top of Mount Turza, a 16th century church and historic La Soledad hermitage. Set in farming country, the fresh river trout and wild boar are perfect accompaniments for a glass of the region’s world-famous wine.
Struggling with EU Property Debt? • Want to sell but can’t? • Mortgage greater than value? • Lost Deposit? • Can’t make your mortgage payments? • Interest Only period ending? • Generally Struggling with your Spanish Property?
We offer assistance and advice in all areas of European property debt
Call us today on: +44 330 124 1230
EU Property Solutions are a team of Insolvency and debt consultants who specialise in property associated debt. Essentially we provide tailored pre-insolvency strategies, we will look at your situation and provide options best suited to your desired outcome.
Calle Marques del Duero 76, 3º C, San Pedro Alcantara, 29670 Malaga Spain info@eupropertysolutions.com np@eupropertysolutions.com
www.eupropertysolutions.com
QUOTE OP0119
XXX
February 2019
PROPERTY
Giving it to you straight In his 20th quarterly market report, established surveyor Campbell Ferguson, of Survey Spain takes off the rosetinted specs to give his realistic - some would say pessimistic - views on the year ahead
I
T’S early February and I am beginning to see more half finished developments finished. There are finally curtains in the windows, cars in the garage and generally more activity around the costas, all of which is reassuring. There is no doubt the pie is getting bigger and while some agents and lenders might still be feeling the pinch it is because there is a lot of competition out there. There are continuing reports of large, principally American funds, purchasing portfolios of mortgage debt and recovered
The % difference between Asking Prices and actual Buying Prices 20.00% 18.00% 16.00% 14.00% 12.00% 10.00% 8.00%
Breakdown by Sotogrande The number of resale venders is increasing. Many are senior and perhaps they have accepted that they will sell even if the market is not the most buoyant because their circumstances require it. There are indications that Spanish buyers are coming back, but principally at the lower end of the market. There is some new build but when added to the existing resale properties, the demand will have to increase for them all to be occupied. There must be a slight danger of a bubble. There are few Gibraltar buyers or sellers, who are waiting to see how Brexit will turn out. A recent sale of an apartment saw a drop of 7.4% between asking and actual sale price, which is standard now.
6.00%
Costa del Sol East and ‘Inland Spain’
4.00% 2.00% 0.00%
Marbella and Benahavis
property. And they will be pushing these on the market as soon as possible in order to get an immediate return for their investment. Many are concentrating on creating rental portfolios, indicating that Spain has one of the lowest rental and social housing percentages in Europe. But perhaps that can be countered by the ambition of most Spaniards to actually own their
homes. What is certain is that 2019 and 2020 are going to be interesting years, especially as the effects of Brexit are felt not just in the UK but throughout Europe. The economies of the UK and EU are borderline in recession, as are a number of significant economies around the world. Even China has seen a serious downtown, so we could be seeing a slowdown worldwide,
MALAGA REMOVALS
Relax, your move is in safe hands REMOVALS
• Weekly full or part load removal service to & from UK, Costa del Sol and the Algarve • Full or part packing service • One box to full load removals • Villa to villa moves within Costa del Sol
SHOP ONLINE
• Shop at any main high street store or online and have items delivered the following week in Spain
STORAGE
• Secure warehouses in both the UK and Malaga
Call us NOW for a FREE quote UK DEPOT
Tel: +44 (0) 1621 850070 Mob: +44 (0) 7711 179842
MALAGA DEPOT
Tel: +34 951 218 877 Mob: +34 647 698 465
Email: sales@malagaremovals.com
www.malagaremovals.com
which is bound to have a spin off on all countries, including Spain. Considering that the second home market tends to be the one hit hardest if there is a downturn, as people concentrate on their first home and business, the market here could be more volatile over the next two years. However, one should not forget the basic reasons for buying in Spain: As the sun has begun to shine again and the temperatures have risen, so this place becomes one of the world’s best places to live or take a holiday. Analysis of Prices and Valuations RANGE As always, there is a substantial range of prices around Spain. The highest valuation - €11,343 per m2 for an apartment in Marbella - was closely followed by a property in Cancelada, near Estepona at €10,900 per m2. Strangely, the lowest valuation was also in Estepona - €545 per m2 - nicely illustrating that average rates per sq m don’t relate to individual properties. % DIFFERENCE Analysis of asking prices, buying price and valuations since the start of our records in 2014 show a decrease in the differences, as follows: ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●● ●●
3rd Quarter 2014 -15.80% 4th Quarter 2014 -11.41% 1st Quarter 2015 -18.64% 2nd Quarter 2015 -10.73% 3rd Quarter 2015 – 8.72% 4th Quarter 2015 – 9.38% 1st Quarter 2016 – 11.68% 2nd Quarter 2016 – 5.69% 3rd Quarter 2016 – 11.97% 4th Quarter 2016 – 13.48% 1st Quarter 2017 – 6.94% 2nd Quarter 2017 – 6.76% 3rd Quarter 2017 – 12.01% 4th Quarter 2017 – 9.56% 1st Quarter 2018 – 7.05% 2nd Quarter 2018 – 9.79% 3rd Quarter 2018 – 5.37% 4th Quarter 2018 – 7.38%
There has been a slight rise from the last quarter. But as the general range of up to, say, 10% discount for negotiation is to be expected, there should be few surprises with these averages.
In the higher value properties, both have had a good year and there is little sign of that stopping. There is good demand from local and international developers. There is little additional hesitation by the Belgian and Scandinavian buyers but the Brits are undoubtedly playing the Brexit waiting game. The urban planning situation in Marbella is improving, with the town hall making speedier decisions, which will assist development.
The market has been better than last year with strong demand for new build. Values are increasing as the market grows. The British are hesitant, both regarding purchase and sale. Strong buying from Nordic countries and Belgium. As Spanish banks are beginning to lend more - though demanding a large % as deposit - there is an increase in interest from Spanish buyers.
Mijas, Fuengirola and Benalmádena Many Scandinavians buying for second homes and many Brits selling up. There is little Spanish activity.
Casares and Manilva
Estepona There is plenty of activity, but looking at stats for a number of estate agents along the coast, the last quarter has seen a 20% drop in enquiries from Swedish buyers. Perhaps this is related to the drop in value of the kroner which has gone down more than sterling. Another reason could be the great summer weather in northern Europe last year, which made many delay thoughts of a home in the sun. Perhaps they are considering it will be a permanent change due to global warming. The sterling changes due to Brexit has seen some Brits rushing to sell and take a gamble on that particular outcome. There is great interest in new build, with Nordic buyers looking for winter homes to rent out over the summer. That rent is important to help them cover costs, rather than as an investment return. Generally optimistic for the future.
The infrastructure of the area is getting better all the time and the development of the hospital in Estepona is another boost. People see Sabinillas/Manilva as Estepona 10-12 years ago and consider that it will continue to grow. Sabinillas has improved greatly in the last three years, with new developments and especially older shell developments being completed. However, the prices for new homes are all well above the current resale market and it will be interesting to see what happens in 2020, when most are predicted to be completed. The resale market is strong and increasing. More are buying or renting to live and work in the area, perhaps from Gibraltar but also from home. Buyers are Belgian, Nordic and German. There is good French interest, but principally in renting. As for the Brits, both sellers and buyers are hesitant, waiting to see what happens with Brexit and exchange rates.
XXXI
February 2019
town and region for 2019 Costa Blanca North Agents report that after the encouraging market at the beginning of the year, 2018 did not see the improvement expected. Whilst the number of enquiries and viewings remains high, purchasers are not following through with offers. Anecdotally, purchasers of all nationalities are concerned about the economic outlook (both as a result of Brexit and internationally) and are delaying making large financial commitments. Conversely, the possibility of a no deal Brexit has ‘panicked’ some UK buyers into making fast purchases, in case the buying process becomes more complicated and the exchange rate falls significantly. In these cases, desirable properties in good locations at the right price are receiving offers close to the asking price. Agents are not expecting the market to improve in the first quarter of 2019, with continuing uncertainty over Brexit and international economists pessimistic over the prospects for the future.
Balearics Almería, Murcia and Alicante South The yearly statistics of a Spanish ‘tasador’ show that the number of sales in the area have increased significantly, as have their valuations. The first new development in Mojácar (Almería) for many years, has been started. The prices are high but in line with predictions for the completion date if values continue to rise.
Pre-Christmas business was good, but not spectacular. It’s seasonally quiet at the moment, but with more professional work than usual. Brits are holding firm for now but Italians bought more property than Brits in 2018, with a lot of focus on Formentera and Ibiza. The Swedish seem to have fallen back too. Germans remain the principal purchasers.
INDICES All indices show that the national and regional market prices continue to rise. However, these grouped statistics are made up of many different individual purchases and estimates, portfolios, new property and resale, and so are of little assistance in gauging the current market value of a particular property. Our research for individual valuations still shows that some property values are reducing, whilst others are increasing significantly. NEW BUILD Off-plan values are still consistently above equivalent resale values. This will give purchasers cause for concern if resale market values have not caught up by the time they take possession of their new build. Indeed, with so much demand being taken up by new build, resales may be coming down in price to attract buyers. OVERDEVELOPMENT Despite all this activity, and the concerns we have, based on reports of potential over development in many popular coastal areas, the Bank of Spain is stating that there are no signs of overvaluation creating a new property bubble in Spain. Statistics are often stated as being lower than those of the peak before the bubble burst in 2007/8, but it should be remembered that
those values were shown to be unrealistic. The country should be using lower values as the measure of a stable, sustainable market. BRITISH BUYERS and BREXIT British buyers continue to purchase more homes in Spain than any other foreign buyers. According to data from the Association of Registrars, 15% of properties bought by foreigners were purchased by Brits between the last quarter of 2017 and the first three quarters of 2018. But this is almost 6% below 2015 figures when Brits accounted for 21.34% of home purchases by non-Spaniards - perhaps an indication of the slide after the Brexit vote in 2016. A number of markets are seeing increasing hesitation from British potential buyers related to Brexit - should they buy ahead of Brexit, wait to see what the terms are or even if it happens at all? The reducing value of the pound to the euro is also making purchases more expensive. But it does encourage potential sellers to drop their prices as they will get the same in sterling as expected previously. If, as expected, sterling drops further, it would be better for owners intending to buy in the UK to wait until that happens, thus having more sterling from their sale. Residents staying and living off UK income have seen their bu-
ying power reduced by at least 25% over the last couple of years. In addition, the potential for higher taxes as non-EU citizens, and movement restrictions, are persuading some UK residents who have not integrated to consider selling up and going ‘home’. SUBSIDENCE On non-economic matters, geologists have reported an interesting effect in some areas of the costas. Where there has been substantial new building of apartments, the weight of those combined with the extraction of water from the aquifers below has led to the steady lowering of the land. This has affected services and infrastructure, with pipes breaking and cracks opening for what was previously thought to be no apparent reason. When that is combined with the rising sea levels due to climate change, it means that beach-front properties need to be looked at more carefully for how they will change in the next 30, 20 or even 10 years. CONCLUSION 2019? I am not holding my breath. Brexit or no-Brexit, it’s going to be bad in the short/ mid-term for business, but once through the other side, I anticipate a big lift, whenever that will be!
tel: 952 81 01 02 info@kssir.com www.ksmarbella.com MARBELLA
·
SOTOGRANDE
·
G I B R A LTA R
·
SEVILLA
·
I N T E R N AT I O N A L
ELEGANT PROPERTY IN MARBELLA KSSIR-23619P Bedrooms: 4 · Bathrooms: 4 Built: 553 m2 · Plot: 2.000 m2
1.790.000 euros
This elegant property is situated in the upmarket area of Hacienda Las Chapas which is to the east of Marbella, offering easy access to the beach and the town. Constructed to a high standard this traditionally styled villa has East facing orientation that makes full use of the wonderful Mediterranean climate. The villa offers on the main floor a lovely entrance hall with extra high ceiling and floor to ceiling glass windows, elegant drawing room with interconnected dining room, fully fitted kitchen, a guest cloakroom, TV room with flat screen and fireplace, 3 spacious bedrooms en-suite with dressing rooms or fitted wardrobes, plus a maid’s room. On the top floor we can find the huge master bedroom with en suite bathroom, walk-in dressing room, an office and a private terrace with some Sea views and accessed to the garden and pool. The property also includes gym, separate staff apartment and garage for 3 cars.
IMPRESSIVE LARGE APARTMENT WITH SEA VIEWS NEXT TO PUERTO BANUS
ELEGANT SOUTH FACING VILLA SIERRA BLANCA
KSSIR-25066P
KSSIR-20500P-G5ZEYY
Bedrooms: 2 · Bathrooms: 2 Built: 110 m2
Bedrooms: 4 · Bathrooms: 3 Built: 986 m2 · Terrace: 86 m2
600.000 euros
3.700.000 euros
Stunning duplex apartment offering on the first floor a good size living area with an open plan kitchen, fitted with good quality appliances, and including a nice dinning area and a balcony. In the second floor, downstairs, there are two bedrooms and two bathrooms, the master one is en-suite. New A/C has been installed. A bright property recently refurbished.
Elegant south facing villa designed in beautiful classical Mediterranean style and situated in the prestigious neighbourhood of Sierra Blanca estate, only a few minute’s driving distance from the town centre and the popular Puerto Banus. Built over two main levels plus a basement, which provides an integral garage for 8 cars and gym.