Olive Press Property April 2024 Issue 442

P propertySpain’sbest

roperty

A MASTER EYE ON

Taking a look at the lesser known Gaudi creations

See page 14

CLUCKS TO CREATIVITY

transformedThechickencoopthathasbeen intoanarchitect’sstudio

WHERE once chickens literally ruled the roost, a firm of architects is now drawing inspiration from the nature of the Paratges de La Moixina. Nestled within the scenic natural park near Orlot (Girona), a remarkable transformation has taken place. What was once a dilapidated chicken coop is now a centre of creativity and innovation, thanks to the work of the Arnau Estudi d'Arquitectura studio. Led by Arnau Verges, (below) the firm decided to restore the forgotten structure to its former glory.

With a keen eye for design Ar nau and his team renovated the old coop, breathing new life into its weathered walls.

The transformation of the chic ken coop into an archi tect’s studio has been nothing short of ex traordinary. It exudes a sense of rustic charm, blending seamlessly with the natural beauty of its surroundings..

It was a labour of love for Arnau who

grew up on the farm where the coop stands. He remembers seeing roe deer and other wildlife on And now he has clear views from his comfortable studio as the wildlife timidly approach the old coop.

He said: “We watch the seasons and life go by through the window while we know that this little paradise is just a lucky fragment of the broken mirror of life.”

PERFECT BALANCE

SIESTAS, lots of holidays and long warm evenings… is it any wonder Spain offers the second-best work-life balance in the world.

According to new research, Spaniards have much more time to relax outside of work compared to most European countries.. In comparison to the UK, where most people work nine to five jobs with a short lunch

Spainisthesecond-bestcountryintheworldforwork-lifebalance

break, most Spanish workers get at least an hour to eat.

According to global HR company Remote, Spain scored a healthy 76 out of 100 for workers.

In the company’s study of the 60 countries with the highest GDP globally, only New Zealand came above with a score

By Yzabelle Bostyn

of 79.

The poll took into account public holidays, sick leave, healthcare, annual leave, maternity leave and overall happiness.

Spain did extremely well for

statutory annual leave of 36 days, while 16 weeks of paid maternity leave (at €100 a week) and getting 60% of your wage if sick were pluses.

While the minimum hourly wage is low at €7.41, it is compensated by an average happiness level of 6.48 out of 10.

An ordinary work week is 25.9

hours, including part-time work.

Despite coming first, Kiwis get less annual leave than Spaniards, with 32 days.

However, their sick leave percentage is higher at 80% as well as maternity leave allowance, at around €98 for 26 weeks.

France came third, followed by Australia, Denmark, Norway and the Netherlands. The United Kingdom was in eighth position, with an average happiness score of 6.94 out of 10.

Brits get 28 days of annual leave, £96 a week for sick leave and 39 weeks of maternity leave at £24 (€27).

In ninth and tenth place were Canada and Brazil, respectively.

WINGING IT: Arnau grew up on the farm

What a fiasco

Spanish

bureaucracy has turned an opportunity into a disaster

IN the wake of Covid-19 the EU launched the NextGenerationEU recovery plan with €807 billion to help economies recover from the pandemic.

This was aimed especially at the hardest-hit countries like Spain, which suffered a real decline in GDP of 11.2pc in 2020, compared to an EU average of 5.6pc.

“NextGenerationEU is more than a recovery plan – it is a once in a lifetime chance to emerge stronger from the pandemic, transform our economies and societies, and design a Europe that works for everyone…. making Europe healthier, greener, and more digital,” explains the official website.

The Spanish government earmarked €15.4 billion for housing projects including renovating Spain’s ageing housing stock to make it more liveable, greener and ‘decarbonised by 2050’. The government’s stated objectives

BIG

stock in line with the European Renovation Wave, as well as increase the social housing stock in energy-efficient buildings, helping to activate the sector and generate jobs and activity in the short term’.

When NextGenEU was first announced the Spanish government made such a song and dance of the expected funds you could be forgiven for thinking we already had the money in our pockets. But having observed the Spanish planning system at work for decades I was sceptical.

In my article EU Next Generation billions could benefit the Spanish housing market if spent well I wrote back in December 2021 that ‘there is a good chance that the funds allocated to renovating Spain’s ageing and

poorly insulated buildings will not be deployed as efficiently as planned, with disappointing results’.

I was not wrong. A new study commissioned by the Andimac trade association representing distributors of building materials reveals that planning applications for renovations fell 8% last year, and is expected to shrink by the same amount this year because of the public administration’s failure to ‘channel and deploy the NextGenerationEU funds’.

The Spanish planning system, bureaucracy, and political machinations have turned a tsunami of funds into bottlenecks that have bunged up the system and caused renovations to pucker rather than mushroom like politicians claimed they would.

The NextGen funds were an opportunity to make the Spanish housing stock more energy efficient, as currently 83pc of homes do not meet the minimum ‘green’ requirements that will be in place in 10 years time, without which homes can’t be sold or rented.

Like many ‘green’ policies this will have to be ditched at some point because it is simply unworkable, but for now it is still an official EU objective that Spain should be working on with NextGen funds.

Incompetent administration of NextGenerationEU funds purportedly for upgrading the Spanish housing stock has left it worse off than it would have been without them, whilst the ‘next generation’ has been saddled with greater public debt.

THE International Monetary Fund has called on Spain to build more homes in order to ease the housing crisis that is ‘affecting the vulnerable.’

Much of Spain, especially in the big cities and along the costas, has seen a demand frenzy - both from renters as well as buyers - push up prices to sky high levels.

A new report by the IMF has urged the Spanish government to tackle the crisis by increasing the housing stock.

“To improve housing affordability, authorities should prioritise increasing supply rather than distorting support for demand,” Kristalina Georgieva said in the report.

Such a measure would lead landlords to lower prices in their attempt to find tenants, the report suggests.

The recommendation came a day after the government announced its intentions to boost house building to tackle sky-high prices.

The IMF also criticised the 2023 Housing Law’s price cap measures in congested urban zones, which has so far only been implemented in parts of Catalunya.

“Past experiences suggest that such price controls can diminish the rental housing supply,” the IMF notes.

Landlords might take their homes off the market if they cannot freely set rental prices, it is argued.

HOPES: But

BARCELONA’S iconic Sagrada Familia cathedral has finally been given a completion date - 100 years since its architect died.

Antoni Gaudi’s spectacular gothic basilica, which looms high over the city, will be completed by 2026 according to builders. He will have died exactly 100 years ago on June 10, 1926.

Work on the structure first began in 1882, with the UNESCO World Heritage Site’s construction dogged by wars, fire, a lack of funds and, most recently, the Covid-19 pandemic. But now, Esteve Camps, the president

Heaven can’t wait!

of the company behind the works, claims to have sufficient funds and material to complete the project, including the 172.5 metre central tower.

However, work on various intricate details could continue until 2034, as well as a stairway leading up to the main entrance.

But this has sparked controversy after it emerged that over 1,000 families and businesses would need to be dislodged.

“We are trying to follow Gaudi’s plan to

the letter,” insisted Camps.

“We are his heirs and the plan presented to the local authorities in 1915, signed by Gaudi, includes the stairway”.

The building is Barcelona’s most popular tourist attraction, with close to five million annual visitors cumulatively spending over €125m.

Yet it has not always been popular with everyone - George Orwell once described it as ‘one of the most hideous buildings in the world’.

He lamented that a fire sparked by anarchists in 1936 had failed to completely destroy the monument.

Landlords’ market CASH BUYERS

RISING rental property shortages have been blamed on Spain’s new Housing Law 2023, which has seen landlords choose to take long-term lets off the market.

The Canary Islands sees some of the highest number of inquiries per advertised property, according to property portal Idealista.

A flat rental advert in Santa Cruz de Tenerife sees an average of 44 applicants, a 62% increase on the same period in 2023, while in Las Palmas de Gran Canaria it is 41 - a 118% increase.

The new rules cap the rates at which landlords can increase rents and can potentially lock them into longterm contracts with tenants. This has allegedly led them to turn to the short-term rental market instead.

Malaga sees a more moderate 28 applicants per advert - a 31% increase on last year - and Valencia 29.

There is slightly less demand in Bilbao (26 applicants per ad), Sevilla (25), and Alicante (22).

GUIRIS WELCOME

By Alex Trelinski

FOREIGN house buyers are continuing to target the Spanish real estate market as domestic purchases fall.

Figures from the country’s notaries for 2023 show that 14.98% of property purchasers came from international buyers - a record percentage figure.

For the second successive year, foreign home purchases grew as a percentage to beat the previous best of 13.75% in 2022.

Oscar Martinez, president of the Professional Association of Real Estate Experts, said:

“More and more international tourists are coming to Spain and they find areas they like with a good climate which makes them think of buying a second home or even coming out to retire.”

Overseasbuyersboost propertymarketas domestic sales fall

Spain last year, down 9.8% on 2022’s total, which was boosted by a post-Covid pandemic rush.

INTEREST rate hikes since 2022 have caused a 5% rise in people buying a home in Spain without a mortgage.

Buyers who didn't need any bank financing accounted for 32% of sales in 2023.

A Fotocasa Research study based on 8,200 interviews has predicted the figure will climb to 35% this year.

A third of mortgage-free purchasers saved up enough money followed by people who got help from their family and those who made a profit on selling their previous property.

Determination

However, domestic purchase

A total of 583,000 properties were sold in slowdowns are not being mirrored by a fall in international buyers who accounted for three out of every 20 homes sold in 2023.

SOFA SURFERS

AFTER a Marbella landlord sparked outrage for renting out a sofa in a shared flat for €400 per month, the Olive Press has found further examples of the practice.

The advert on Facebook Marketplace showed a blue three person sofa with the caption: “Renting a sofa in a shared flat, Puerto Banus area.”

However ridiculous, the practice is not uncommon in Spain due to high demand for rentals.

On Milanuncios, one of Spain’s most popular rental websites, the Olive Press searched for sofas and identified four for rent on the first page of results. These ranged between €150-300 per month. One, listed as a ‘living room in central Madrid’

cost €200 per month with all bills included, while another in Barcelona would set you back €250. Property experts have

questioned how a contract would be drawn up for this kind of ‘property’ and if renting a sofa is even legal.

The Olive Press could not find any legal basis to justify such a rental agreement.

Pampered pooches

MARBELLA is known for its luxury and now, it is home to one of most swanky dog hotels in the world, offering beach walks, relaxing baths, a spa and reiki treatments for your furry friend.

The Tiny Dog Hotel is the brainchild of Dutch-Peruvian couple Jose Antonio Canales and his wife, Antoinette. The couple moved to Spain to set up their business, installing air conditioning for the dogs and installing

“Foreign customers are financially astute and are very clear about what they can afford,” said Eva Lopez from the National Federation of Real Estate Associations (FAI). According to the notaries, only 7.5% of mortgages last year involved foreign buyers. “If they need

security cameras. Now, for €24.50 a night, the dog hotel offers a range of services and even spa treatments.

Every morning, Antoinette carries out a ‘reiki’ ceremony, a form of Japanese alternative medicine thought to calm nervous dogs.

financing, some of them have it already ready from their own country because of different terms and conditions for a domestic buyer,” added Lopez.

The largest foreign group were the British with 8,173 purchases, followed by Germans (6,244) and the French (5,712).

The favourite areas for British buyers are the Valencian Community followed by Andalucia.

The Balearic Islands had the greatest foreign purchase totals as a percentage last year, coming in at 31.5% followed by the Valencian Community (29.2%) and the Canary Islands (28.5%). There was also a significant presence in the Murcia region(23.8%) and Catalun-

Fotocasa's director of studies, Maria Matos, said: “The survey indicates that people are looking for other ways to buy properties without using banks and it shows their determination to acquire a home.”

“It is important to highlight that potential buyers are waiting for an interest rate cut which will then produce a big demand which the real estate market must respond to,” she added.

PROPERTY prices in Malaga province reached an all-time historic high this February.

Each pooch has its own ‘suite’, complete with a bed, toys and water bowl.

The cost of housing in the region increased by 0.5% since January, and 10.1% up from February 2023.

The average property price for the area now sits at €3,113 per square metre.

Wealthy hotspots Marbella and Benahavis top the charts, with prices coming in at €4,526/m2 and €4,402/m2 respectively.

Increase

The greatest percentage increase over the past 12 months was in Algarrobo Costa, according to website Idealista, with prices going up by 18.1% to an average €2,793/m2.

Getting to know Gaudi: the Catalan architect’s masterpieces you’ve likely never heard of

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A MASTER EYE ON

By Yzabelle Bostyn

EVERY year, thousands of tourists flock to Barcelona to marvel at Antoni Guadi’s buildings. His emblematic Sagrada Familia cathedral which started to go up in 1882 could be finished in two years to make a century since his death.

It is Barcelona’s most popular tourist attraction, but there are so many other works by the artist in the city worth visiting. Most of them remain largely undiscovered by tourists. In particular, it’s incredible that so many miss Palau Guell (left), which is just steps from the city’s famous La Rambla street.

Gaudi designed the mansion for in -

1886, it is an early example of Gaudi’s signature style, using mosaic, wrought iron features and stained glass. Inside, the arching stonework, twisting stairways and soft lighting earn Palau Guell its palatial title.

Outside, the extraordinary roof offers lovely views over the city where you may be able to spot the even more amazing Casa Vicens. Found in Barcelona’s

at first glance you might not realise this unusual red, white and green house was one of the architect’s works.

He took on the project, in fact, as a newly qualified architect with just five years of experience after being hired by tile baron Manuel Vicens Montaner to design a summer house. Gaudi clearly considered his benefactor’s profession when designing the house, implementing brightly coloured motifs at every opportunity.

Typical of Catalan modernism, the design is inspired by nature every step of the way, with twisting vines for gates and tiled sunflowers decorating the

PALAU GUELL

CASA

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the namesake of the well-known Park Guell in the nearby hills. Built between 1886-

who is also

SKY HIGH: The remarkable roof of Palau Guell and the internal brickwork and staircases

TILE TYCOON’S DREAM: Gaudi used Vicen’s designs as much as possible with extraordinary originality

PROPERTY

CASA CALVET

Discover the jewel of Marbella with this stunning three bedroom duplex penthouse! This exclusive home combines contemporary elegance with luxury amenities, offering an exceptional lifestyle in one of the most sought-after locations on the Costa del Sol. This duplex penthouse has been designed with a focus on spaciousness and brightness. The open spaces and intelligent layout provide an airy and flowing feel throughout the property.

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All very Gaudi...

Andalucia, the Arabian smoking room is delightfully reminiscent of Granada’s wonderful Moorish masterpiece the Alhambra. After careful restoration, it was declared a UNESCO World Heritage site in 2005 and has been open to the public for seven years.

With access limited to 500 people a day, it is best to book a ticket in advance to avoid disappointment.

For the purists, you should also visit one of Gaudi’s first works Casa Calvet (left).

Built in 1899, the building is considered the architect’s most ‘conservative’ work but it nonetheless earned him the city’s ‘best building of the year award’ in 1900. The house, built for textile ma -

It is also well worth visiting Torre Bellesguard, also known as Casa Figueres. The modernist manor house was From page

nufacturer Pere Martir Calvet is still distinctively modernist, with curved balconies lining the facade.

It also pays tribute to baroque style and Calvet himself, with decorative ‘C’s in every corner.

Today, the building houses a restaurant where diners can enjoy the incredible ceilings, granite columns and vine-inspired arches.

Continues on page 18

TORRE BELLESGUARD

This stunning luxury duplex penthouse with its prime location and exceptional features, this property offers the epitome of luxury living. The duplex penthouse boasts 4 spacious bedrooms, each with its own en-suite bathroom, providing space and privacy for all residents, an one service bedroom with bathroom. The property also includes an additional toilet for guests. This penthouse offers direct access with a private lift from the parking or from the gate building for an absolutely comfortable living.

This spacious and bright flat is located right on the golf course in one of the most sought after areas of the Costa del Sol, in Guadalmina, Marbella. Within a gated and private urbanization, with 24hrs security, it has a southwest orientation that allows you to enjoy the sun all day long. Its three bedrooms are spacious and with access to the large terrace that surrounds the entire property. It has two en-suite bathrooms and a guest bathroom, and an independent kitchen, equipped and with space to eat in.

This charming villa has a truly privileged location with stunning views of the Costa del Sol and the Mediterranean Sea, surrounded by mature and secluded garden. It is built in Andalusian style and with a small reform, or with a comprehensive renovation, offers the perfect opportunity for personalisation according to modern tastes. The elevated position facing the sea provides a sense of grandeur and tranquillity, while the large garden offers an outdoor space to enjoy the sunny climate.

CONSERVATIVE: By Gaudi’s standards but Casa Calvet is still distictly ‘modernist’

Vista Lago is located in the 200-hectare country club estate of Real de La Quinta, surrounded by magnificent countryside, just 15 minutes from Marbella. Each award-winning villa has breathtaking views across the Mediterranean Sea to Gibraltar and the African coastline beyond.

From page 16

Eye on the mask

constructed on the site of a mediaeval castle and the influence is clear. Built as a country retreat for the then King of Aragon, it fell into decay over the centuries until Juame Figueres commissioned Gaudi to redesign it.

Gaudi’s Catalan heritage is evident on the terrace which cleverly integrates a ‘dragon’ in a nod to the region's patron saint, Saint George. Although these details are what makes the house so special today, the architect’s obsessive behaviour added significant costs and time to the project and the Figueres family were never able to live in the property.

Fina - lly, Gaudi’s best kept secret is Colonia Guell, a short

20-minute train ride from the city. Originally built as an industrial village for one of Eusebi Guell’s textile mills, the project was intended to improve workers’ quality of life, including houses, a theatre, school, shops, gardens and a church. Gaudi was commissioned to design the church, now known as the crypt. The undulating arches, stained glass and broken mosaic ‘ trencadis ’ make the building unlike any other church and its influence is clearly seen later in his master-work, the Sagrada Familia.

After marvelling at the church, make sure to wander around the village.

COLONIA GUELL

The most iconic development situated in a luxurious resort which boasts an artificial lake and beach (canoeing), paddle and tennis courts and a golf course.

INTRICATE: The details of the village’s church and theatre were later adopted in his Sagrada Cathedral design

MODEL VILLAGE: Just a 20-minute train ride out of Barcelona

A relaxed and comfortable LIFESTYLE

A gated, modern, functional residential complex, perfect for everyday life.

Its south orientation allows all homes to benefit from natural light and enjoy the stunning marine environment of the Mediterranean coast.

Spacious terraces

Swimming pool and gym

Community room

600m from the marina

IThe Property Insider

by Adam Neale

Marbella’s luxury market grows

HAVE noticed a strong trend in recent years, accelerating since the pandemic, for Marbella to become a destination of choice for luxury home purchases. It seemed to me that luxury home sales and purchases were becoming a growing part of the overall real estate market. This was largely a phenomenon that was anecdotal, based on my experience. I wanted to confirm whether it was actually the case and not just my perspective, so I dug into the numbers.

SPAIN’S BOOMING LUXURY MARKET

The luxury real estate market in this country

Prices in the top end property sector have grown by up to 20% in two years but no bubble is forming

has experienced considerable growth, with high-net-worth individuals investing more in this segment. Prices in the country’s luxury real estate market have increased by 10-20% in the past two years, according to insurance firm Hiscox.

Transactions for homes over €3 million increased by 55% in 2022 over 2021, with over 8,000 transactions registered last year, mainly in Barcelona, Madrid, the Balearic Islands and Malaga province.

MALAGA AND THE GOLDEN TRIANGLE

In fact, Malaga leads the luxury real estate market, with 2,500 homes for sale above €3 million, representing 34% of total luxury home sales in Spain. The vast majority of these high-end homes are located in the so-called ‘golden triangle’, formed by Benahavis, Estepona and Marbella.

The rise in luxury housing has significantly impacted real estate prices in Marbella. Across all categories prices in the city rose by about 15% between June 2022 and June 2023. In fact, the average asking

price reached €4,461 per square metre in December, which is more than double what it was 10 years ago.

FACTORS INFLUENCING MARBELLA’S MARKET

A significant part of Marbella’s rise is a result of the paralysis that exists with regard to zoning. Marbella hasn’t had a zoning bylaw for over a decade now, and that has caused a shortage of available housing that will take years to work through, even though the zoning impasse should be sorted out this year. However, another part of the price increases comes from Marbella’s attractiveness as a destination for high-net-worth individuals. They can see the luxury, infrastructure, amenities and like attracts like.

The pristine beaches and plentiful golf courses help too.

So, what does this mean for us mere mortals who aren’t movie stars or oil sheikhs or jet-setting billionaires?

The growth in the luxury market in Marbella and the Costa del Sol is generally a good thing. However, it is not without its drawbacks. Price rises in both rental and purchase prices make housing less affordable to those who aren’t wealthy.

On the other hand, Marbella, being a destination for luxury seekers, provides a lot of work as well as improvements to the local infrastructure that benefits everyone.

CONCLUSION: A SUSTAINABLE GROWTH

Nobody wants a bubble. The last one in 2007 ended very badly. But what is happening in Marbella is not, I’m convinced, a bubble. Prices remain 22% below 2007 highs on the Costa del Sol. The restoration of a functioning zoning regime in Marbella will also ease, naturally and gently, the upward pressure over the course of the next couple of years.

Marbella and the so-called golden triangle are definitely experiencing the virtuous circle of an influx of luxury buyers, along with improved infrastructure from growing tax revenues.

It is true that we need more long-term rental options, and I hope that the regional government of Andalucia offers incentives to the many excellent developers along the Costa del Sol.

But even with that caveat, I feel confident that Marbella and the cities around it are just getting started in a historic and overall positive transformation.

PROPERTY

THERE can be little doubt that summer is the season when Spain comes alive. Blessed with a lovely climate and an exquisite natural environment, the best part of summer is the time one gets to spend outside.

Now, imagine stepping into your backyard and being instantly transported to a luxurious tropical resort… amid it all stands a stunning thatched gazebo, nestled next to your sparkling pool. This picturesque scene is not just a dream but a reality for many homeowners who have chosen to incorporate a Cape Reed thatched gazebo into their outdoor living space.

Thatched gazebos have long been cherished for their rustic charm and versatility, offering an idyllic setting for al fresco dining and precious family moments. These natural structures create a lively ambiance where you can socialize with friends and family, making every moment spent underneath the gazebo a memorable experience.

Perhaps one of the greatest benefits of having a Cape Reed thatched gazebo next to your pool is the opportunity to enjoy a vacation-like experience without ever leaving home. Whether you’re relaxing with a good book, hosting a poolside party, or simply soaking up the sun, having a tropical retreat in your backyard allows you to unwind and recharge in the comfort of your own space.

With the warmer weather on our doorstep, now is the perfect time to embody the true spirit of the Spanish summer. And a thatched gazebo will do just that, creating a sanctuary where nature and leisure intertwine harmoniously, allowing you to enjoy your outdoor space in comfort and style.

For more information, contact John at 638 421 464 , via email at john@capereed.com or visit the website www.capereed.es

Long time coming

Ibiza has revived its first theatreaftera16-yearrestoration

THE historic Teatro Pereyra will reopen in May to celebrate its 125th anniversary.

Now a ‘cutting-edge theatre and live music venue’, the theatre was originally built in 1899 following Spain’s loss of its final colony in Cuba. This marked a period of cultural and economic growth on the island, spearheaded by the ‘enlightened’ elite.

A landmark of Ibiza old town,

THEN AND NOW: Teatro Pereyra has a new lease of life

By Yzabelle Bostyn

it took 16 years to restore the French inspired building to its former 19th century splendour.

The regional government declared it a Cultural Heritage Site (BIC), meaning meticulous restoration was necessary to preserve the building’s original features.

RENOVATED: Theatre is ready to go

Now, the venue will host events year round, including film showing, concerts and theatre performances from artists across the world.

The programme is under the direction of 90s pop star, musician and composer, Nacho Cano. Over 300 people will be able to enjoy the venue’s surround sound, with 256 seats and 54 boxes.

Cafe Pereyra, a live music hub, will also open its doors.

During the day the sophisticated cafe will serve breakfast and lunch and at night, musicians will take to the stage.

Home to one of the best-preserved Renaissance walls in the Mediterranean as well as a beautiful colonial facade, the cafe has much history.

The building will also include a lounge and cocktail club, Sala Sandoval & Compañía.

A homage to the original driving forces behind the theatre, Commander Pereyra and his wife, the venue evokes the ‘seductive feel of Cuba’.

With ‘privileged views’ of the city and endless Cuban cocktails, the bar will surely become the place to go.

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EXPLORE THE POSSIBILITIES

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Spaintoend goldenvisasthat grantresidencyto foreignerswhobuy a€500,000home

By Ben Pawlowski

SPAIN’S Prime Minister Pedro Sanchez has pledged the removal of so-called ‘golden visas’ which grant residency to foreigners who purchase a property for €500,000 or more.

Previously, the scheme allowed foreigners to obtain a three-year residence permit, extendable for another two, by buying property, or investing €1 million in deposits or shares of Spanish capital companies, or more than €2 million in government bonds.

The scheme was introduced in 2013 in the wake of the housing market crash and Euro crisis as a means to re-invigorate the country’s property sector through foreign investment.

However, the policy has since come under severe scrutiny, with critics claiming it creates inflationary pres sures and acts as a back door for dirty money to enter the Spanish economy.

Now, Pedro Sanchez’s Socialist-led govern ment has vowed to end the scheme.

Sanchez, 52, said that 94%

NONSENSE!

of approved visas were related to property investment and located in regional capitals such as Barcelona, Madrid, Malaga and Valencia, ‘cities where the housing market is very stressed’. “We do not want a speculative investment model with housing”, he added.

The move comes in the build-up to crucial local elections in Catalunya and the Basque Country, with Sanchez stating that his main policy aim is to ‘guarantee access to affordable housing, to respond to the public, and assure that no citizen has to spend more than 30% of their income towards having a suitable, quality home’.

In 2022, Spain granted 2,462 residency permits to investors who had bought

VILLA, BENAHAVÍS – R4407832 – 1,200,000€

properties with a value exceeding €500,000, a 60% increase from the previous year.

The Spanish government has granted a total of 11,464 individual authorisations since the golden visa was introduced, in addition to 19,805 authorisation for family reunification.

Last year, countries including Ireland, Portugal and Greece cancelled their version of the ‘golden visa’ scheme as critics highlighted a lack of affordable rental housing in major cities.

However, housing experts have warned that a cancellation of the scheme could damage the Spanish economy by discouraging crucial investment from its European neighbours.

Tourism councillor in Benahavis Scott Marshall (left) branded the scrapping of the golden visa as ‘nonsense’.

Marchall,who is an estate agent

GOLDEN VISA

by trade, added that it was ‘a de-

cision made without consultation and without any basis’. He added: “The problem is that, whether the initiative goes ahead or not, it contributes to creating uncertainty in the foreign investor... foreigners cannot be blamed for the price of housing and rents.”

Uncertainty

In a tweet, Sanchez said: “Housing is a constitutional right and not a mere speculative market. That is why we are going to eliminate the ‘Golden Visa’, the law approved by the PP that allows you to obtain a residence visa if you invest more than €500,000 in housing in our country”. He added: “Having decent housing cannot depend only on market rules. This will be the legislature that turns housing into the fifth pillar of the welfare state.”

This stunning villa is in one of the best plots in village being a short walk to all amenities but benefiting from its quiet position with all-day sun and stunning views of the mountains and gorge from every room. This home is fully refurbished and benefits from being laid out over one level.

As you enter the property, there is a spacious and bright open-plan living room, dining area and kitchen all with breathtaking views of the mountain. Leading off the main living room, there is an enclosed sun room providing an additional living and dining area facing the mountains and pool. The modern fully fitted open-plan kitchen has the benefit of a separate laundry room.

There are 3 bedrooms, the master having a full-size walk-in dressing room and an ensuite with a walk-in shower and bath. An additional bathroom includes a full-size shower.

BED: 3 | BATH: 2 | BUILT SIZE: 170 M2 | PRIVATE GARAGE | GARDEN/PLOT: 2162 M2 | PRIVATE POOL

T: +34 952 85 54 89

E: info@propertiespain.com

W: www.propertiespain.com

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NEW LIFE

Almeria castle gardens pay homage to the history of the city, writes Yzabelle Bostyn

LMERIA’s La Hoya gardens are delighting visitors as spring brings new life to the Alcazaba.

Located just beneath the monument lies the 42,000 m2 oasis, once a sprawling medieval barrio, a farm and a dumping ground. The garden opened last November after over two years of renovation and a €2.5 million investment. It has been especially designed to avoid damaging archaeological remains that were detected during construction.

The park is home to 120 species of tree and 21,000 plants picked to withstand the dry, Mediterranean summers.

According to Juan Antonio Sánchez Muñoz, one of the landscape architects behind the design, it was of the ‘utmost importance’ to consider the location’s 1,000 year history.

NEW SHOOTS: La Hoya gardens are springing into life

Nestled by the Alcazaba and Cerro de San Cristóbal walls, the area has seen the foundation of Almeria. It pays homage to this legacy, preserving the waterways and steeped design consolidated by farmers. La Hoya uses low lighting at night, so that visitors can still stargaze.

These are not the only stars that have paid a visit to the garden, it has also been used in many films including Wonder Woman (2020) and Cleopatra (1963).

If you would like to visit the park, gates are open from 8.30am to 8.30pm.

LAS BRISAS, NUEVA ANDALUCIA

Ground floor elegance in gated community of Los Granados golf.

3 Beds | 3 Baths | 166m2 Built | 72m2 terrace

REF: 176-02639P | 1.100.000€

Grand apartment with a villa feel in the popular gated urbanization of Los Granados Golf directly front line golf to Royal Las Brisas, Nueva Andalucia. The ample reception room leads you the spacious living and dining room that leads you out onto the very large covered terrace with open garden views. From here you can walk straight out onto the communal gardens and beautiful pool area. There are 3 large bedroom suites that include a very generous master suite leading out onto the terrace.

LA CERQUILLA, NUEVA ANDALUCIA

Elegant bungalow for sale in an exclusive residential area.

5 Beds | 5 Baths | 2537m2 Built | 653m2 build

REF: 176-02231P | 5.950.000€

Located in the prestigious residential area of La Cerquilla in Nueva Andalucia, this exceptional south facing residence is nestled between world-class golf courses and within close proximity to the finest dining, shops and beaches! The property sits on a generously sized plot and occupies over 600m² of living space with a stunning wrap-around covered terrace which is ideal to spend outside all-year-round and with views overlooking the Los Naranjos golf course.

Bfrom, an easy process can turn into a mind boggling one!

Another frustrating aspect is the fact that in the vast majority of Spanish shops, not only do the beds generally all look and feel the same, it is incredibly difficult to get the guidance we need.

Either due to language barriers or lack of knowledge from sales assistants, it is easy to feel a little lost.

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Another thing to consider is what type of ‘sleeper’ you are (eg. a side sleeper would benefit much more from a pillow top mattress than a back sleeper).

Also, as we are in Spain, it is important to take the heat into consideration. A thick memory foam topper would be too hot and natural fabrics such as cotton and tencel are certainly things to consider.

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The ‘diamond in the rough’ near the village of Pego is decorated with traditional artisan tiles in vibrant blues, yellows and oranges that exude summer vibes. Not only that, the intricate mosaic floors are reminiscent of Spain’s Moorish history and

could be easily restored to their former glory.

Even the bathroom and kitchen are adorned with tiles, making this a majestic property throughout.

The abandoned house needs a good renovation to restore but it would be worth the effort.

Spread over a 8,403m2 plot, the 105m2 property is listed for €120,000 by IAD Barcelona.

“It is a home with essence that maintains the authentic multicolored hydraulic floor and the Valencian ceramics on some of its walls,” explained the agent. It also counts on a basement, outside pool and storage space. The house still has running water and electricity.

The shops, schools and restaurants of Pego are just a few minutes away and the sandy beaches of Playa Santa Ana and Playa Denia are only 10 minutes by car.

Tourist flat cutback

RESTRICTIONS will be imposed by the government on the number of tourist apartments in ‘stressed’ areas of Spain.

Housing Minister, Isabel Rodriguez, said that she will intervene to limit the number of tourist apartments in parts of the country because they are ‘harming the right to access housing’.

The country’s 17 regions have no definition of what is a ‘stressed’ area but Rodriguez’s declaration signals the government’s intention to overrule local decision makers if need be.

Rodriguez made a specific reference to Madrid, where there are over 14,000 tourist flats. Across Spain there are thought to be more than 300,000.

“I don’t want the centre of Madrid to be a theme park, but to remain a city,” she said.

There have been protests recently in Tenerife over ‘excess’ tourism and the impact on property prices.

She pointed out that there are regions like Andalucia, Catalunya and the Canary Islands that are taking their own steps but emphasised that the national government can also intervene.

DOUBLED IN PRICE

THE cost of buying a home in Malaga city has more than doubled over the past decade, new figures reveal.

According to a study by property portal Fotocasa, the cumulative price of a property in the city has risen by 107% since 2014.

It means Malaga is now the second-most expensive provincial capital when it comes to buying a second-hand home.

It follows only Palma, in Mallorca, which has seen prices rise by 140% over the same period.

In 2014, the average 80 sqm apartment in Malaga city cost €135,821, today it is €234,561.

The third highest price rises were in Madrid, which has seen a surge of 82% since 2014.

This was followed by Valencia city (66%), Las Palmas (55%), Alicante (51%), San Sebastian (46%), Girona (46%), Santa Cruz (45%) and Barcelona (43%).

On average in Andalucia, the cost of an 80 sqm home is currently at €163,400, up from €117,900 some 10 years ago.

NEW START

Fresh blood sees 10% growth at Spain’s oldest property association GIPE

As one of the oldest real estate associations in Spain, GIPE was, in need of renovation and new ideas.

Based out of the heart of Malaga, GIPE (Gestores Inmobiliarios Profesionales Europeos) needed an injection of fresh blood.

And that’s when in-walked Scandinavian property dynamos Christofer Fogelberg and Daniel Holmquist of the StartGroup as well as Patrick Galiano of Inmoswiss, in 2022.

Full of new ideas and enthusiasm, such as making it the first bilingual Spanish/English association it is now becoming very popular among Costa del Sol estate agents.

“It’s grown by 10% in member numbers this year alone and our goal was 100 new certified members by the end of 2024,” the president Alfred van Krimpen told the Olive Press.

With monthly seminars, social events and conferences, 2024 looks set to be the year GIPE hits the big time.

In particular, campaigning for regulation in the Andalucian property sector, it insists that all new members are fully legal, have insurance and have undertaken certain courses.

In 2023 GIPE started offering training courses for new agents, many coming from other parts of Europe.

“Instead of sitting back and complaining about the need for rules and regulation we decided to be proactive and educate both new and estanlished agents,” explains Fogelberg, from the charming historic ‘palacio’ just off prestigious Calle Larios.

But best of all they are creating a safe networking space for all their members that come from dozens of nationalities.

“We have members from all over Spain and of all ages, including some founding members who are in their 80s.

“We are organizing events and informative sessions on numerous subjects, we have had four banks in to explain and compete with their mortgage products, seminars on new laws among other subjects.”

“We are teaching all the rules in order to comply and avoid the various fines they face operating here which go from 6,000 euros to up to 600,000 euros.

“We have various courses on offer now from the Andalucian real estate rules, to data protection laws and prevention of money laundering laws.”

Aside from a total renovation of the offices of the association, which was set up in 1985, it insists on being ‘totally bilingual’ with all training courses avaliablie in both Spanish and English.

GIPE is also part of CEPI, a platform based in Brussels looking after the interests of its members and facilitates real estate transactions for all EU member citizens.

All GIPE members are fully insured and certified, in order to give better guarantees to property buyers and vendors. Member benefits include responsability insurance, co-working centre in Malaga, monthly seminars and legal advice, for only 50€/ month. Sounds like the place to be for any respactable Estate Agency.

Visit www.Gipe.es

Sell your property with EXPERIENCED and CERTIFIED professionals at STARTGROUP!

• Offices in Calahonda, Torrequebrada and La Cala de Mijas.

• All sales agents and valuers are Certified Estate Agents by GIPE.

• Multilingual, 12 languages spoken!

• Qualified property valuers with years of experience.

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• 21 years established = Client list of more than 15.000 potential buyers!

• Professional presentation: Quality photos, Virtual Tour and Floorplans

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Contact our property valuers Daniel Holmquist or David Hemmings to value your property!

CALAHONDA TORREQUEBRADA LA CALA DE MIJAS