BLOOMING LOVELY

MARBELLA is taking a leaf out of neighbouring Estepona by installing 500 colourful flower pots in one of its districts. Estepona (left) has garnered international attention in recent years after branding itself the ‘garden city’ and installing thousands of plant pots in parks and around the old town streets. Now Marbella is sprucing up the El Barrio district with 500 blue flowerpots in a bid to give the area a typical Andalucian feel.

SPAIN’S deputy prime minister, Yolanda Diaz, has called on banks to freeze mortgage interest rate rises after one of the country’s lenders announced record earnings.

BBVA, which is Spain’s second-biggest bank, showed a 38% increase in net profits, which came in at an all-time high of €6.42 billion in 2022.

This was partly due to a double-digit rise in lending income, as well as the bank’s performance in Mexico, which accounted for more than 60% of the lender’s net earnings.

The figures came just a day after the Euribor interest rate, the benchmark used for the calculation of most mortgages in Spain, hit 3.337%, the highest level since December 2008.

Writing on Twitter, Yolanda Diaz, of Unidas Podemos, said that the current cost-of-living crisis ‘cannot be an excuse to earn more’.

“While the rise of the Euribor will make the average mortgage €250 a month more expensive, BBVA’s profits have grown 38%,” she continued.

Cash In

AN Andalucian town is giving an ‘aid’ package of €750 to families in an attempt to avoid depopulation.

once a lively community but has now declined due to the closure of a large quarry which used to provide significant employment.

While €562/sqm may seem a more than fair price, it is still way more than the

Helpforyoungbuyers

ANYONE under 35 taking out mortgages in Andalucia could soon benefit from a 15% guarantee from the Junta. The regional government says this will allow banks to offer mortgages of up to 95% of the property value. This would mean young would-be owners will have a chance to get on the property ladder without needing the typical 20% deposit required at present. The Junta will not hand out cash as a grant, but will back 15% of the loan with public funds. No money changes hands and the full sum of the mortgage will still have to be paid by the property owner.

Final legal issues are being resolved at present, with it hoped to introduce the scheme in the coming months. If successful, under 40s may be able to apply in the future too.

bargain basement €284p/sqm properties found in Alcaudete de la Jara, in Toledo, the cheapest municipality in Spain. The average price in Malaga province was €2,787p/sqm in December, although the average in Malaga city was slightly lower, at € 2,346/sqm, according to property portal Idealista.

Other Malaga municipalities with bargain properties are:

● Teba (€577 p/sqm)

● Alameda (€579 p/sqm)

● Villanueva de Algaidas (€598p/ sqm)

● Humilladero (€661 p/sqm)

● Campillos (€680 p/sqm)

● Archidona (€690 p/sqm)

● Almachar (€717p/sqm)

● Fuente de Piedra (€784 p/sqm)

● Mollina (€787 p/sqm)

Canillas de Aceituno in the Axarquia is giving the cash to families that have lived permanently in the village for at least a year.

Digital future

SPAIN is hoping to attract more British women with digital nomad visas and tax perks this year.

The country wants to attract female entrepreneurs because the country is widely viewed as a safe place to live for women. A digital nomad’s visa and tax concessions for start-up companies in Spain are coming into force as part of a new start-up law. “We don’t want digital nomads, we want residents,” said Digitalisation Minister Carme Artigas.. “Our hope is that the nomad visa is very attractive but then they stay in our country and put down roots.” Some 22% of Spain’s economy is digital-based, with start-up hubs growing.