Mallorca Property Magazine Issue 6 by Olive Press Newspaper Spain

Property Mallorca olive press

www.theolivepress.es

February 2018

Issue 6

February 1st - February 14th 2018 Mallorca - Living Inspiration

We give your dreams a home

Tel. +34 971 23 85 84 www.engelvoelkers.com/mallorca Are these the most photogenic pools in Mallorca? Leading London agent picks its favourite Instagram pics on the island SEE PAGE IV

SOLDIER ON C OURTS in Spain have vowed to speed up mortgage floor clause claims for 2018. It comes after 165,000 suits were submitted last year, but only 3% (5,000) were dealt with in court. The severe delays are the result of a government decision to only allow 54 purposefully built courts to deal with all mortgage floor clause cases, causing a ‘judicial bottleneck’ that leaves

Fight for justice on mortgage floor clauses to get easier this year people waiting years before being repaid what they owed for overpaying their mortgage. But Spain’s General Judicial Council has announced an additional court covering cases in the Canary Islands

and Fuerteventura, as well as increasing the amount of judges to 50 and hiring more civil servants to help process the lawsuits. Lenders are purposefully not helping the cause, having rejected some 650,000 clients who attempted

to claim directly with their banks. Some reports claim they are proposing token funds, or offering to cancel abusive clauses by private agreement and replace them with high-fixed interest rates which are just as bad as the floor clause rate. Spain’s General Council is now calling for the special courts to be scrapped, arguing for a ‘more effective’ plan to avoid the ‘total collapse’ of the Spanish judicial system.

Victory bonanza

ANOTHER five Irish investors have won their deposits back via the Spanish courts. All of them had invested in off-plan developments that never got built. The judgement is one of over 200 won by Reclaim in Spain and the lawyer Martin de la Herran, of Abolex, over the last two years. “Martin is confident of all cases being successful - he will not take a case to court unless he is 99% certain of winning,” victim Ollie Reel told the Olive Press. “The claim is against the banks (not the developer/agent) and people just have to provide the correct evidence to make a successful claim.” In the latest case, each of the claimants got their deposits back plus 29% interest. “We expect many more victories this year,” added Reel, from Armagh, in Northern Ireland.

17 Property Shops on Mallorca We give your dreams a home

Tel. +34 971 23 85 84 www.engelvoelkers.com/mallorca

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www.theolivepress.es Property Agencies need more regulation, writes Mark Stucklin

Pacha nightclub dismantles

ANOTHER nail is being hammered into the coffin of the Mallorca party scene. Palma's Pacha nightclub has closed down after inspections found multiple illegal improvements and additions, as previously reported by the Olive Press Newspaper. Now the Palma planning council have decided to demolish and undo everything that did not have permit. A total of nine remodels and alterations were carried out with out city permission, and many of which are not up to the building codes for the area. The town planning council stated, "it was found that there were works that did not respect the Property of Cultural Interest (BIC) and that substantial changes had also been made in spaces not approved by the license". Improvements that will soon be torn down include the updated restrooms, billboards, both the patio and main terrace extensions, and the VIP room and the semicircle bar itself.

RIPPLE of alarm is running through Spain’s property sector over the return of cowboy realtors. The reappearance of these opportunists keen to ride the crest of the new buying wave is worrying some of the most established names in the business. They’re concerned that it could have a negative effect on the sector’s reputation which has cost so much to rebuild in an industry that is permanently under the spotlight. You only need to look back a decade or so, when it was fashionable to be a developer or estate agent with no experience, to understand the concern among the companies with more experience. This includes those who have sat out the crisis and the new arrivals who have helped to relaunch the market (for example Aedas Homes). The risk of the arrival of newbie companies pursuing easy money is one of challenges to be met in the new property market cycle. It was precisely the ‘chiringuitos’ (beach bars) – the term used at the time (a decade ago) to describe the amateurs in the property sector – who helped inflate the bubble and damage the industry’s reputation through malpractice. New entrants in

February February 1st - February 2018 14th 2018

Cowboy concerns

property development were helped fessionals to gain the high profile along by easy bank loans for dubi- they had in the past. ous housing schemes. “We aren’t aware of this phenome“The economic context allowed non at the moment,” he adds, “but people with no training or experi- we’re not ruling out the occasional ence in the sector to become part incident.” of it with the sole objective of makHe believes that the sector itself ing easy money on an ensures there all-or-nothing basis,” aren’t many of says Daniel Cuervo, agents, Many of the new these General Secretary of since it badly afthe Spanish Property fects the serious entrants lack Developer and Conand responsible professionalism companies. structor Association (APCE). These pseudoand and are chasing “Suppliers professional operapartners who easy money tions were the first to nurture non-prodisappear during the fessionals will tar property crisis. themselves with Banks nowadays are the same brush more cautious and don’t give loans to and find it difficult to work with projust anyone. This means the develop- fessional companies,” he says. ment sector is more protected from His words are, for the time being, opportunists, according to Cuervo. backed up by the facts. According “The loan market requires a sig- to the national business registry nificant injection of capital, such as compiled by the Spanish Institute of having the land paid for as well as Statistics (INE), in 2017 there were the project and licence costs. You 67,812 companies involved in sellalso need to show a track record of ing property, the lowest figure since ability, know-how and professional- the registry started in 2008 with ism,” he explains, adding that “it 106,375 on its books. Since then, would be very difficult for non-pro- the number has not stopped falling.

But if the property development business is protected from cowboy operations by financing considerations, the estate agency business is not. Anyone can set up as an estate agent in Spain, and the barriers to entry are low, which helps explain why the number of companies in the sector has risen from 149,000 in 2015 to 169,000 today, according to figures from the INE. Industry insiders fear that many of the new entrants lack professionalism, are chasing easy money and could end up damaging the industry’s reputation, just like they did in the past. “It seems that the real estate agency business has no restrictions and anyone can work in it,” one unhappy client told the Olive Press. “In my case I got the impression that they just want to close sales any way they can, and collect their commission, without taking care of the client.” Some industry insiders are calling on the Spanish Government to regulate the business and make it difficult for cowboy operations to take advantage of the recovery and damage the industry’s reputation again.

Property

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11 III

Fashion funds

AMANCIO Ortega has injected €100 million into his Spanish real estate business Pontegadea España. It comes after the billionaire created the new subsidiary for Spanish properties in November. The new business will focus on properties in Spain and currently has holdings worth more than €1.6 billion, including Madrid’s Torre Cepsa tower designed by British architect Norman Foster. The Zara founder’s property corporation Pontegadea Inmobiliaria already has separate companies in the US, France, UK and Korea, which are dedicated to managing the property business in each country and has holdings worth €6.7 billion.

Rent-aroof

TERRACE rentals are the next 'big thing' coming to Mallorca. A new app, called Atiko, rents out private rooftops like Airbnb does apartments. The renting app is already a hit in Madrid and Barcelona, and is now set to launch in Palma. The idea is to rent a seafront or rooftop terrace for a weekend bunch event, an afternoon BBQ, a photo shoot or even an evening of star gazing. The target audience is not tourists, but rather residents temporarily looking for a different setting. Homeowners with an ideal terrace or pool area simply post the details and photos on the app with a fair price, and rules, then wait for neighbours to pop in.

American dream

Former US ambassador is said to be looking for a dream home on the island

E'S credited with the reason the Obama family keep returning to Mallorca. And now, appropriately, America’s former ambassador to Spain, James Costos, is appropriately looking to buy on the island. The cultured American has had a long relationship with Mallorca, spending summers and winters in the north of island with husband, designer Michael Smith, for over a decade. The pair currently work all around the world, mainly in the US and Barcelona, and recently bought an rural estate near Salamanca. The power couple have rented the same horse ranch in Esporles, Ses Planes, for a decade, but now want to own a home of their own on the island, claim friends. The Olive Press revealed how the pair had dined with Michelle Obama in the tiny village of Caimari last summer. She had stayed at their home and at the nearby Cap Rocat with her two daughters. Costos was recently spotted browsing the real-estate section of Mallorca's booth at the recent FITUR international tourism fair, in Madrid.

SUN IS SHINING: On Spain’s British property market

Sunny forecast

A PLACE in the Sun has forecast a rosey outlook for Spain’s property market this year. It comes after 2017 saw a much better-than-expected bump in enquirires from Brits looking to buy in Spain, despite the ongoing Brexit fallout. And Spain has continued to be the hot favourite, receiving far more enquiries and with Brits remaining the bigget buyers. “We British are an adventurous, acquisitive bunch who love property and 2018 will see a sizable number of people move forward with plans to buy their place in the sun”, says Andy Bridge, Managing Director of A Place in the Sun. “Each year throws up issues that impact the number of buyers – the value of the pound, Brexit worries, the wider economy – but inevitably we don’t want to be put off”.

Delightful Mediterranean Villa - Costa de la Calma MOVING IN: Ambassador (above) and (below) Obamas visit

4 Beds ● 3 Baths ● 280 m²- Living ● 900- m² Plot ● Pool ● €1. 500.000 ● Ref: 18004 Situated in a quiet and leafy neighbourhood in Costa de la Calma, this property is just 5 minutes to the sea and only 20 minutes to Palma and 25 minutes to the airport. Comprising 3 double bedrooms plus Granny flat, this nicely presented home also offers an open plan kitchen, lounge, and library/office area with wood burning stove. Wood flooring throughout. There is an extensive al fresco entertainment environment for family and friends with a large summer kitchen and bbq area, a nice flat garden and pool with gazebo, overlooking a pleasant green zone. Viewing highly recommended.

STUNNING: Finca fit for a king (or ambassador)

For more information please contact Amanda J Butler www.mjcassociates.net, email: ajb@mjcassociates.net or tel: (+34)690075169.

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February February 1st - February 2018 14th 2018

England ace Raheem Sterling netting a mega bucks purchase in Spain

Mountain protest

LOCALS are set to protest against plans to build a controversial development in Deia. The protest on February 4 is being organised by the group, We Want a Small Deiá, who believe the 21-home development is ‘barbaric’ and too big. Construction has already begun on the luxury scheme, with environmentalists and locals of the nearby mountain villages wanting to stop it. The group, Agrupacion Deia, claims the two and three bedroom houses, which will cost up to 2 million euros, are forcing younger buyers away. They argue it will also worsen parking problems and not aid the issue of water scarcity in the town. A spokesman for Agrupacion Deia said: “If we see that there is some way to paralyse the project, we will do it.” The route of the rally has yet to be decided, but it will set off from midday.

ONDER kid Raheem Sterling is investing big bucks into a new home on the Costa del

Sol. The Manchester City star is celebrating his stunning form by forking out more than €5 million on a palatial Marbella pad. The holiday hotspot is said to be a favourite for the forward, who signed with City for £49m from Liverpool and earns around £200,000-a-week.

Lotta sterling

Jumping

The 23-year-old has been repeatedly seen jumping on an EasyJet flight to Malaga during his time off from fighting it out for the Premier League. The youngster and his wife Paige Milian already have a huge £3m mansion in the Cheshire countryside but are keen to add the Spanish pad to their property empire. The luxury villa in Marbella is located just 100m from the beach between Puerto Banus and San Pedro de Alcantara. Costing a cool €5 million, the description says it 'represents a unique opportunity to experience the Marbella lifestyle'.

GEM: Raheem’s home sits in one of Spain’s most exclusive neighbourhoods

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February 1st - February 14th 2018

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Finest Real Estate Mallorca

Son Espanyol: Lovely finca with guest house on a 8,000 sqm plot, 15 minutes drive from Palma´s old town. 4 bedrooms, 3 bathrooms, pool, underfloor heating, fireplace, high beamed ceiling, wooden and marble floor, double glazed window, carport for two cars. E&V ID: W-0297ZZ · Price: € 1,350,000

E X C

Alcudia: High quality house in top condition with sea views, located in a beautiful residential area of Bon Aire, charming traditional elements on exterior combined with bright, modern interiors, holiday rental permission. Constr. area approx. 310 sqm. E&V ID: W-02AAUJ · Price: € 1,475,000

Puig de Ros: This spacious villa is located in second sea line and has a holiday rental license. Large living room with fireplace, 6 bed., 6 bath., equipped kitchen, covered terrace, saltwater pool and much more. Constr. area approx. 468 sqm E&V ID: W-00AD7Q · Price: 2,200,000

El Terreno: Refurbished quality apartment in walking distance to Santa Catalina and Palma old town with 2 bed., 2 bath., patio and terrace, air conditioning, underfloor heating, guest toilet, built-in kitchen, cellar. Constr. area approx. 137 sqm. E&V ID: W-026G5S · Price: € 598,000

Palma: Exclusive and modern duplex penthouse with private roof terrace, part of a spectacular renovation project consisting of seven fabulous luxury apartments with exclusive design, light flooded and spacious rooms, as well as parking and elevator. E&V ID: W-02B4W6 · Price: € 1,200,000

Puerto de Sóller: Luminous apartment with a beautiful view of the bay and surrounding mountains. It has an open-plan kitchen, dining room, living room, 2 bedrooms and 1 bathroom. Furthermore it has a terrace, cosy garden, a/c hot cold, parking space. E&V ID: W-02A5P2 · Price: € 535,000

Engel & Völkers Mallorca · Tel.: +34 971 23 85 84 Mallorca@engelvoelkers.com · www.engelvoelkers.com/mallorca

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February February 1st - February 2018 14th 2018

Snappy happy

Spain’s most ‘instagrammable’ properties

SPANISH villa has been labelled one of the ‘most Instagrammable’ luxury pads in the world. Luxury tour operator Abercrombie & Kent Villas announced its Black Collection 2018 this week, a selection of 40 stunning villas chosen by a panel of experts based on location, décor, popularity with guests and ‘Instagrammableness’. The Mallorca villa (left) comes complete with a pebbled beach and is built on a 275-hectare private estate on the northwest coast of the island. The property’s name - Se Terra Rotja - translates as ‘red earth’, with the villa capped with terracotta tiles and constructed with red-tinged stone and mortar. Priced from £2026 (€2305) per person per week, the villa sleeps eight people across its four ensuite bedrooms. Right we have picked out two other stunners from around Spain

CG Property C/ Julia Bujosa Batle, 6 07184, Calvía Mallorca Tel: (+34) 971 670 300 Mob: (+34) 628 196 939

www.gc-property.com Calvia – 2,775,000 €

ref: CT62

A charming property on the outskirts of Calvia village with a large 40,000m2 plot. The property has a total construction of 500m2 which is split between 2 fincas. The main finca on the ground floor has a large lounge with fireplace, and dining area overlooking the orange & almond grove. There is also a modern kitchen, bathroom and study (which could be used as a bedroom). Upstairs you find the large master bedroom with terrace, fireplace and ensuite. The second finca has a kitchen with fireplace and 2 bedrooms with ensuite on the ground floor, whilst upstairs is a lounge, terrace and a further 2 bedrooms which share a bathroom.The property has a private pool, orange grove, garage, storerooms, central heating and a/c throughout. The property also benefits from its own water supply as well.

Calvia – 595,000 €

ref: NBC1

A beautiful 3 bedroom semi-detached townhouse on a quiet cul-de-sac with nice views. The property has a constructed area of 156m2 + 40m2 of terraces and sits on a plot of 470m2. Downstairs is the open plan lounge/kitchen/dining room which is filled with light and has direct access to the swimming pool, outdoor eating and garden. Upstairs there are 3 bedrooms, 2 bathrooms and 2 terraces. Other features are a w/c, laundry, basement & a/c.

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FebruaryFebruary 1st - February 14th 2018 2018

€900,000,000

€220,000

Malaga chic Andratx stunner

This cute apartment is just a stone’s throw away from Museo Thyssen, Plaza de la Constitución and Calle Larios - a wonderful car-free environment full of small shops, restaurants and bars, but yet with complete peace on its own street. The project consists of a restoration of an old magazine headquarters that will turn into a total of 11 apartments in modern, urban, industrial style with 4 metre-high ceilings.

www.maklarringen.se Reference CNON126 Bedrooms 1-2

This private Mediterranean style villa is one of the most outstanding properties in Port Andratx, with a sensational panoramic view to the harbour of Port Andratx, the open sea, the Majorcan countryside as well as to the bay of Palma. The 3-bed comes with a bodega, bar, fitness room and luxurious Spa-area with an indoorpool and sauna. In addition, there is a guest house, which offers 2 bedrooms, a bath and a living room with an open kitchen. www.engelvoelkers.com REFERENCE NUMBER: W-026MG3 BEDROOMS: 5

Camp de Mar: reformed villa with sea views in 2nd sea line, const. area 150 m2 , plot size of 150 m2 , 3 bed, 2 bath, pool, heang,, sea access, A/C, parking, Ref. 1558, 1.950.000 €

15 VII

Cala Fornells: apartment in ﬁrst sea line, const. area approx.84 m2, terraces approx. 18 m2, 2 bed, 2 bath, commnity pool, community parking, air con. h/c, Ref. 1556, 485.000 €

FARA HOMES, Calle Cristobal Colon 1, 07157 Port Andratx, Tel. +34 971 672 455, info@fara-homes.com, www.fara-homes.com

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Ref: 11811

February 1st - February 14th 2018

Bedrooms: 5

Bathrooms: 3

Build: 350m2

2,650,000€

Spectacular house in the golf course of Santa Ponsa Spectacular house of design in the golf course of Santa Ponsa. This house has been built on a plot of 3.500 sqm with materials of the best qualities of the market and with a modern style but very Mediterranean. The house has 350 built sqm distributed all of them in one level. This great house has 4 double bedrooms, 2 bathrooms and a guest toilet, wide cleaning room and space for storage and a big modern kitchen with access to the exterior. Huge living room with spectacular double height and big windows with a view to the wonderful gardens of the property. On the exterior of this house there are wide gardens with Mediterranean style where we find a guest's charming little house with sauna. This beautiful property is located to a few meters by foot in one of the income to the golf course in the area, 10 minutes of the main beach and with all the necessary services to live, supermarkets, colleges, drug stores, etc, only 5 minutes by car. A real dream where to live!!!!

Ref: 11821

Bed: 3

Bath: 3

835,000€

Ref: 11809

Bed: 3

Bath: 2

519,000€

Beautiful Mediterranean style ground floor apartment on 1st line golf in Nova Santa Ponsa

Beautiful rustic house surrounded by nature in Andratx

Beautiful Mediterranean style ground floor apartment on 1st line golf in Nova Santa Ponsa. This spacious ground floor has 219 m2 distributed in 3 double bedrooms and 3 full bathrooms 2 of them en suite, modern style kitchen fully furnished and equipped, integrated into the spacious and bright living room with a nice fireplace and access to the outside of the house where we find a beautiful terrace with garden area and views of the golf course.

This house has been built on the side of a mountain in a romantic area of Andratx, the plot is 900 m2 and the house has 140 m2 of living space distributed on two floors. On the main floor there is a huge living room, a rustic style kitchen which is fully furnished and equipped, 2 double bedrooms and 1 bathroom. On the upper floor there is the master bedroom with a bathroom en suite and beautiful mountain views. On the outside of the house we find several terraces, gardens and a barbecue area.

W W W. S G I - M A L L O R C A . C O M

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February 1st - February 14th 2018

Y O U R PA R T N E R S I N M A K I N G Y O U R D R E A M S C O M E T R U E A PA R T M E N T S

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TOWNHOUSES COMMERCIAL

Ref: 11819

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PLOTS •

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VILLAS

PENTHOUSES •

R E N TA L S

Yo u r s H e r m a n n K ö p p l e r

FINCAS

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FULL SERVICE

Bedrooms: 5

Bathrooms: 5

Build: 350m2

2,120,000€

Elegant modern style house in Nova Santa Ponsa Elegant modern style house in Nova Santa Ponsa. This house has been recently built on a plot of 1000 m2, has 350 m2 of living space distributed over 2 floors, on the main floor we find 1 double bedroom, 1 bathroom, modern style kitchen with high-end appliances, spacious and bright living room with a modern fireplace and access to the outside of the property. On the second floor there are 4 double bedrooms with 4 bathrooms en suite, also has a large roof terrace with beautiful views of the mountains and the bay of Santa Ponsa. Outside the house there is a beautiful salt water pool with large garden, very well maintained with plants and Mediterranean native trees. The house has an ample garage for two cars. This property has been built with materials of the best qualities of the market and is equipped with high technology. Located in one of the most sought after residential areas of the Southwest of the island, just a few minutes from several golf courses, beaches and the famous Puerto Adriano. With all the necessary services at 5 minutes by car and only 25 minutes from the center of the city of Palma. A true luxury place to live!!!

Ref: 11807

Bed: 3

Bath: 3

1,795,000€

Ref: 11820 Build: Bed: 240m2 3 Bath: 3

495,000€

Beautiful rustic style house in Nova Santa Ponsa

Beautiful terrace house on the 1st line of the golf course of Camp de Mar

Beautiful rustic style house in Nova Santa Ponsa. This house has been built on a plot of 985 m2, has 332 m2 of living space distributed on two floors, on the main floor we find 1 double bedroom with bathroom en suite, guest toilet, beautiful rustic style kitchen, a spacious living room in two very bright levels with access to the exterior of the house. On the upper floor there are 2 very large double rooms with dressing room and bathrooms en suite, the main room has access to a large terrace with beautiful views over the landscape of the area.

Beautiful terrace house on the 1st line of the golf course of Camp de Mar. This house has 151 m2 constructed area and 94 m2 living area distributed on two floors, on the main floor there is 1 double bedroom and 1 bathroom, fully fitted and equipped kitchen, large living room with a nice fireplace and access to a pretty terrace of about 25 m2. On the upper floor there are 2 double bedrooms and 2 full bathrooms en suite, the master bedroom with access to a terrace with beautiful views of the golf course and the mountains.

P U I G D E S C A S T E L L E T. 1 - 2 , B L . 3 , 0 7 1 8 0 S A N TA P O S A , M A L L O R C A (+34) 971 695 912 • INFO@SGI-MALLORCA.COM

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DATELINE: November 20th, 2067

o one saw this coming… In looking back 50 years to the year 2017, all the clues were there but like a complex jigsaw puzzle, few could see the entire picture. Who would have predicted in 2017, that over the next 50 years, we would see the geopolitical rise of Spain as a world leader? Who would have anticipated a golden age for Spain in energy-related technology? Who would have forecasted Spain as a global model as it pertains to international trade? How did this happen? Let’s try and make sense of it…. In 2017 Spain was still mired in the effects of La Crisis. Unemployment, especially for the young, remained among the highest in Europe. For three election cycles in a row, Spain could not form a consensus government as the country teetered between austerity and unacceptable debt limits. Inefficiency and corruption were found at all levels of governance. Furthermore, the voices calling for Catalonian independence AND those who opposed it, were loud and persistent. Lost in all this pessimism however was an already in-place, albeit inefficient and non-profitable, solar and wind infrastructure. More about this later… The situation in Europe was not much better. The full impact of Brexit in 2017 had not yet played out. Over the next few decades, the European Union weakened to the point that by 2067, it existed in name only. It wasn’t just Brexit that was the beginning of the end for the EU----rather it was a ‘death by a thousand cuts’. The debt/austerity situation in Greece, the cultural divide between the northern and southern countries, immigration/assimilation issues, currency controls, historical grievances --- all were part of the reason for the EU’s fragmenta-

Like the Romans, Napoleon and Hitler, the EU had failed to create a unified Europe tion. Alas, like the Romans, Charlemagne, Napoleon and Hitler, the European Union had failed to create a unified Europe. All was not lost however. Britain, post Brexit, gradually entered a trading bloc of the English -speaking nations of Canada, the United States, Australia, New Zealand. The union known as Anglosphere, collectively engaged in international trade through a series of free-trade agreements whereby tariff restrictions were reduced and/or eliminated. Interestingly, the historical enemies of France and Germany attempted a similar trading union to prop up what was left of the EU. Meanwhile, Spain formed an economic association with its former South American colonies. This trading bloc, known as Hispanidad, became the economic and technological center-of-gravity in international leadership. Spain’s return as a world leader leader in geopolitical realities was primarily due to (5) reasons; Technological innovation in energy, the success of Hispanidad, well-placed economic institutions, profitable natural resource allocation, and extremely good luck. In 2017, fossil fuels still dominated energy consumption worldwide. Over the next few decades this dynamic began to change. The use of hydrocarbons became less attractive as fears of global warming and climate change intensified. The internal combustion engine for example, was slowly replaced by battery power. Volvo announced (in 2017) that by 2019 their product line would be exclusively electric cars. The United Kingdom, Norway and France all pledged to ban all internal combustion en-

February February 1st - February 2018 14th 2018

Back & Future

The year is 2067 and Spain has returned to superpower status, write Jack Gaioni

GOLDEN AGE: Spain’s Hasburgs ruled the country in the 1500s, its most powerful period

FUTURE: A solar farm in the Indian state of Tamil

Into the Crystal Ball It has been said that ‘those who live by the crystal ball soon learn to eat shattered glass’. That may be true as making intuitions into the future is never a certainty. It has also been said that the only way to predict the future is to have the power to shape the future. If this is true Spain could indeed inherit a bright future. Admittedly, much of the preceding is pure conjecture but some of the preceding is also factual. The demise of the internal combustion engine seems imminent as Volvo, the U.K., Norway and France have indeed made provisions for the exclusive use of electric vehicles. Tesla Inc., an American energy-storage investment firm, has begun spending billions on giga-

factories dedicated to the research, development and mass production of lithium -ion battery production. Tesla has proposed the building of gigafactories in Europe with Paterna (Valencia) Spain as a strong candidate. The concept of an Englishspeaking trading union is not new. Anglosphere, where the Englishspeaking countries share a common heritage in language, history, law, democrati c institutions a n d now trade, was the very expression of Winston Churchill’s project; History of the English- Speaking Peoples. Likewise, the concept of Hispanidad traces its roots back to the 16th century when

gines by 2040. But in 2017 battery power had severe limitations; driving range was limited, the shelf-life of batteries was short-lived and the cost to produce them

historians viewed the Spanish American territories not as colonies but rather extensions of Spain. Lithium- ion batteries are viewed by investors as the logical alternative to the internal combustion engine and high-quality reserves are

found in South America where Spain does indeed have in-place financial influence. Does Spain, in 2017 have the pragmatism to shape the future? As Mahatma Gandhi once said: “The future depends on what you do today and the best way to predict the future is to create it.”

en- masse was prohibitive. Furthermore, the production and disposal of storage batteries required huge amounts of electricity and had negative environmental im-

pacts. In the decades following 2017, this dynamic began to change due to a wave of innovation in battery technology. Lithiumion batteries--- those that store the energy that powers mobile phones, electric cars and electricity grids--- improved exponentially. Lithium became a coveted commodity and, as fate would have it, most of the world’s proven reserves were found in the ‘lithium triangle”’of Chile, Argentina and Bolivia---all active trading members of Hispanidad. By 2067, lithium technology had improved to the point where ‘gigafactories’ or large battery production facilities simultaneously reduced the cost of battery production tenfold and greatly improved the capacity and design of battery power packs. In the decades post 2017, the next generation of battery technology doubled and tripled battery capacity, reduced costs by 40-50% and extended the life of batteries ten-fold. By 2067 battery technology not only changed the auto industry but batteries could now be paired with existing solar and wind technologies…industries already well positioned in Spain circa 2017. The foray into lithium extraction however required huge amounts of Spain and cash-infusions, both Hispanidad was through bank the recipient of loans and private investsome very good ment. Spain fortune was well positioned here as well. In banking, Banco Santander (founded in 1857) and La Caixa (founded 1844), had long established ties in the Americas. They used their scale and influence to make big (and profitable) investments in lithium mining. Linguistic and cultural affinities attracted Spanish and Latin American investors as businesses broadened their horizons on both sides of the Atlantic. But when the Bank of Spain--- the country’s national reserve bank— and Bancomext, Mexico’s largest export credit agency both made huge investments in lithium extraction, it signaled to the world that Hispanidad had arrived as the world’s model in trade and international commerce. Indeed, Spain and Hispanidad was the recipient of some very good fortune. In a perfect storm of technological innovation and an already in-place infrastructure (albeit somewhat primitive in 2017), Spain could pair large scale energy storage with their existing solar and wind industries. Even on windless days wind turbines could now produce electricity via large scale battery storage. The same applied to cloudy conditions and the ability of solar farms to generate electricity. The world watched as Spain led the way in lithium/battery technology becoming an integral part of a low emissions future.

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Keys Isl nd to the

21 XIII

February February 1st - February 14th 2018 2018

By Amanda Butler

Mallorca property market has kicked off with a bang this year, writes Amanda Butler

challenge amanda

AVING commented in the first many of my colleagues, which is an unarticle of the year that January usual but great start to the year. is normally a quiet time to re- More great news for the Islands expat flect and organise, how wrong community and visitors alike is that could I be?! various airlines will be increasing their Within the first week I had a client fly- flights to the Balearics this summer ing in on his private jet giving me 24 including Ryanair, easyJet and Eurowhours notice to set up viewings for he ings. Vueling will be increasing flights and his wife! with the mainland including new routes This also happened to coincide with to France and Switzerland. the Three Kings, which is seen as the That’s fantastic news after the col‘real’ Christmas for the lapse of Air Berlin and locals, with naturally not Niki. many willing to offer viewBaleária will also be addI think I have ings in the midst of it all! ing more eco fast ferries been busier than from the mainland as well By some miracle, and with the help of a number of inter-island routes. I have ever been, as collaborating agencies, I Carmen Planas, thepresilike many of my dent of the Confederation managed a decent number of viewings to warrant of Balearic Business Ascolleagues a visit. sociations, remarked that Which was just as well this coming season is dessince we found something tined to be ‘better than they both liked, a sea view apartment last year, and that was a very good in Portixol for €2.8 million (yes, it was one’, following talks with hotel groups quite large for that price) - so celebra- and other tourism industry businesses tions all round! at the Fitur Event. Lago Negueruela, I did think I should speak to the BBC the Balearic employment, trade and and enter myself in for a new TV series industry minister, added that most imof Challenge Amanda, so watch this portantly the season is starting earlier space! and finishing later, which benefits evAnd this pace has continued – in fact I eryone in the tourism industry, which think I have been busier than I’ve ever of course is the prime industry for the been, which is what I’m hearing among Islands.

Contact Amanda J Butler to buy or sell your home: Tel: +34690075169, www. mjcassociates.net. Your professional one stop property shop around the Island!

XII 20

www.theolivepress.es Property November 23rd2017 - December 6th 2017 November

ON TOP: The palace sits high above Ibiza with amazing views

it of coin

STUNNING: Rooftop pool and (below) cave pool

Palace in Spain is first in world you can buy with cryptocurrency Bitcoin

T the highest point of Ibiza’s skyline stands the medieval Palacio Bardaji, built in 1742. With just under a square kilometre includes a near quarter kilometre of floor space, which of accessible rooftop, it can all be yours for 1850 bitcoin. How much that actually is in euros changes everyday, but at time of press, around €12 million. The Palacio Bardaji has gone through renovation to bring it into the modern a rigorous yet protective lines from UNESCO (it is in a world day, following strict guideheritage site, Ibiza’s Dalt Villa).

Luxury

It follows other luxury Bitcoin sales, which is selling units for Bitcoin such as Dubai Science Park and a luxurious London townhouse is also selling for Bitcoin this In total, the Ibiza palace has 921 year. and 220 square meters of land. It square meters of floor space, comes complete with six bedrooms, five bathrooms and a private garage among its three stories. The property also includes a separate, ment, as well as staff accommodation. fully appointed apartCurro Quevedo Bueno of Zooo, the sible for the sale, says the owner real estate agency responsees Bitcoin as ‘a big thing in the near future’. “That led to the decision to become part of this new financial world. “We are very aware that doing the nitely not make things easier, as transaction this way will defiwe way to make this connection betweenstill have to figure out a this new world and the old one.”

MODERN: Gold, white and spacious interiors

ORIGINAL: The interior decor is stylish and different

Coin Picafort

HOUSE in Can Picafort has been put on the market with the option to buy in Bitcoin. The property is being sold on idealista. com for 339,000 euros in Bitcoins or Ethereum. It comes after a home in Tarragona was sold in January for 40 units of bitcoin, equal to more than €550,000. A luxury 18th-century palace, Palacio Bardaji, is for sale in Ibiza accepting only Bitcoins, 1850 of them. The six-bedroom and three story building sits inside the World Heritage Ibiza Town site and is the highest and most private point in Ibiza. There are four other homes currently being marketed around Spain in bitcoin. One home near Madrid is being sold for 54 bitcoins, while a flat in Barcelona, a house in Sant Andreu and an apartment in Lavapies, in Ma-

home

Property in Mallorca goes on the market in bitcoin, one of six in Spain

drid, make up the rest. A mansion in London was put on the market for €19 million in November, with the stipulation that the buyer MUST pay in Bitcoin - about 5,050 at the time. Owner Lev Loginov explained that he was doing it as transactions in Bitcoin are ‘done quicker, and more efficiently’. He added it was much easier to deal with than using banks, ‘which are putting in unnecessary over-regulation’ on purchases. A dozen restaurants in Mallorca already accept payment in bitcoin.

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XIV 22

Property

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February February 1st - February 2018 14th 2018

From diving to development, SGI’s Hermann Koppler has seen success

Happy Hermann A

T SGI Mallorca Real Estate, Hermann Köppler sees the sale is completed. property business as his hobby. “We do not just sell a property. We help the client go through the The German owner of this Santa Ponsa company set up whole process to find a lawyer,” he adds. the business 32 years ago. “We do the work so they don’t have to spend money on lawyers. After shifting the entire business to Mallorca following Spain’s We help them go to the notary, open a bank account, get an NIE economic crisis, SGI Mallorca Real Estate has grown from number. strength to strength. “Those are pluses the client appreciate. I have a lot of friends who Herman’s expert team of nine are fluent in ten languages and were clients.” maintains a strong focus on the south west of Hermann himself started the company after previthe island. ously working as a professional diver. “I love this job,” says Hermann. “This is not a Armed with three stars, one of the highest recognijob where you sit in front of the computer. You tions for a diver, he ran schools in Germany, Egypt I think it will keep can connect with all sorts of people. It’s never and former Yugoslavia before making a splash in the same thing twice. real estate. growing for us “You are doing something you love.” “I trained a lot of people. It was work but also a and all the other hobby. So you can see the trend. Many people SGI’s close links to Hermann’s homeland means they are one of the most highly sought ‘Where can I find this kind of property?’ companies here asked, after agents on the island for Germans looking “I met a lot of people. Then I thought, ‘This is my to snap up property on the Balearic hotspot. hobby but if I can sell a property I can make ten But a strong English, Scandinavian and – intimes as much’.” creasingly – Scottish market means accents of Last year was ‘very, very good’ for SGI, he says, all sorts are heard in the company’s modern Santa Ponsa office. and does not envisage Mallorca’s property boom ending any The key to maintaining the close bond they have with their clients time soon. is simple, says Hermann – trust. “The last few years have also been good but there has been a “Some agents aren’t very open but we are completely honest growing curve leading to this year,” says Hermann. with the clients,” he continues. “I think it will keep growing for us and all the other companies. “You have to build a trusting relationship. We think it is a much People are still looking at Mallorca and the market is still better way for the future. Of course, if they ask does this have growing.” a beautiful sea view, you say, ‘It has a sea view. But maybe it A trend the company has noticed recently is for modern, has a palm tree in the way’. minimalistic type properties. “But those are small things. There are some other things However, Hermann believes that a switch back to a that agents wouldn’t mention because they just want more traditional style could be on its way. to sell. “Very minimalistic properties is not the real “We don’t do that. That’s not good for or PR. We try to Mallorquin style. People like curvy houses with be as honest as possible. That’s very important.” lots of flowers and details, but I think people And SGI’s client service doesn’t stop at finding will go back to that style.” you the right apartment, town house or finca. Contact: hermann@sgi-mallorca.com Their end-to-end support takes in all 0034-971-695-912 manner of tricky legalese once the 0049 15758096369

THE A-TEAM: At SGI Mallorca

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