Olive Press Property February 2023 - Issue 412

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Spain’s first carbonzero home... is closer than you think

See page 16

INSIDE OUT

HIS genius eye made him the world’s most creative architect in his day. And now you can get up and intimate with Gaudi’s stunning homebuilding talents, with today half a dozen properties open to the public in Barcelona. His eye for detail will amaze you.

See page 6

BUILDING GOLD MINES

NEW home prices in Spain rocketed by 7.1% last year - the biggest increase since 2007. Price rises are predicted to continue to rise during 2023 but expect the rate to slow down due to the economic situation.

According to the official appraisal company the Sociedad de Tasacion

By Alex Trelinski

new builds were fetching an average of €2,732 per m2 at the end of December but still below the historical high of €2,905 in June 2007.

The region showing the biggest new property price hike is the Balearic Is-

lands (up 9.1%) followed by Madrid (8.5%), Navarra (7.2%), Andalucia (7.1%) and Valencia (7%).

By capitals, Barcelona (€4,917 per m2) remained the most expensive place to buy, followed by Madrid (€4,125) and then San Sebastian (€4,048).

Malaga took the honours as the provincial capital where new housing

New builds soar inpricewiththe biggestincrease since 2007

prices had the highest percentage rise last year (up 9.3%).

Sociedad de Tasacion CEO, Juan Fernandez-Aceytuno, explained: “The market behaviour towards the end of 2022 shows the impact of interest rate rises on real estate activity, but with new housing, even at the end of the year, there’s growth that is higher than

or equal to that registered in 2019.”

He believes that prices of second-hand homes may fall due to inflation, but sustained price growth will continue for new housing.

Meanwhile, real estate portal Fotocasa is estimating overall sales will fall by up to 12% this year after surpassing 600,000 transactions in 2022.

SUNNY YEAR AHEAD

Welcome from publisher Jon Clarke

THE property market really took off in 2022.

After two years of relative stasis, it picked up massively as Covid restrictions came to an end. Almost all agents I have spoken to had record numbers of sales last year, and most predict more of the same this year.

But the main issue is most certainly listings. Everyone badly needs them.

The critical shortage of properties is evident in Sotogrande, where Holmes' boss Ben Bateman told me less than 10% of the local stock is for sale. “Unprecedented levels,” he stressed.

It’s the same for Winkworth, Terra Meridiana and others. But what is encouraging is that while some countries in Europe (Holland and Scandinavia in particular) appear to have strong economic headwinds affecting their local property markets, Spain is likely to weather the storm. Prices are only now reaching the levels of 2007 in most areas, and interest rates are peaking, while the demand is still strong from the dozens of foreign markets who still aspire to live or buy here.

So well did our Property Magazine do last year that we are upping their number from six to eight and will publish them regularly throughout the year.

We can promise a continual flow of analysis from our specialists like Mark Stucklin and Campbell Ferguson, while Chris Fogelberg joins us from StartGroup and our Property Insider Adam Neale and mortgage expert Tancrede de Pola are always on hand with up-to-the-minute advice. On top of that, our dozen-plus journalists and writers will guarantee to always find the most interesting and colourful property, planning and architecture stories from around the country.

IT’S the definitive golden dynamo of southern Spain.

Marbella has seen asking prices soar by 19.9% in just one year, according to a leading property portal.

The Costa del Sol resort has also nearly doubled in price in a decade and is second only in terms of cost per metre square.

The statistics provided by Idealista (see graphs right), show that Marbella prices have risen by 84% since 2010, while Ibiza town is up by 86%.

Meanwhile, only Ibiza is more expensive per metre squared than Marbella with Madrid and Barcelona coming below it last year.

It now costs an average of €4121/sqm to buy a home in Marbella, while Ibiza costs €5,274/sqm, Barcelona comes in at €4050/sqm and Madrid at €3929/sqm.

The lowest city price relevant for foreign buyers is in Murcia (€1,118/sqm), where prices are still 22% down on 2010. Malaga city saw price rises of 8% last year and is 21.6% up on 2010 prices. While prices in Valencia went up by 9% last year, it is still 1% cheaper today than it was in 2010.

Boob job stops squatter eviction

A WOMAN accused of squatting in a property has tried to get out of a court date claiming she had to have surgery on her breast implants on the same day.

Lawyers for the Swiss owner of the occupied home revealed that their client was ‘wondering if he had purchased a house in Spain or in a banana republic’ in the wake of the incident.

The victim had decided to buy a property in Malaga, having fallen in love with the city and wanted a home for long stays, and eventually to live in.

He discovered however, it had been taken over by a squatter when he arrived one day last year and found that the key no longer fitted the lock.

Police were called but could do nothing more than to identify the alleged squatter. She was eventually called to court for an eviction proceeding, but the case has been put on hold after defence lawyers presented a document from a clinic that stated that she was scheduled to have surgery involving the ‘elevation of mammary implants’.

The lawyers for the victim believe that the appointment is nothing more than a ruse to drag on the trial, and have called into question the authenticity of the document.

Luxury Larios

MALAGA’S main shopping street is one of the most expensive in Spain.

Calle Marques de Larios ranks in first place in Andalucia and in the top five in the country for rentals.

According to US property giant Cushman & Wakefield the average rental price is €1,800 per square metre per year.

Meanwhile Calle Tetuan, in Sevilla, comes in with €1,260 per square metre per year, and Barcelona's Paseo de Gracia is Spain’s most expensive at €2,677 per square metre per year.

It is closely followed by Portal del Angel, also in Barcelona, followed by Madrid's Serrano, Gran Vía and Preciados.

Paseo de Gracia comes in at 18th in the world rankings, which are led by New York’s Fifth Avenue at €21,076.

Bargainbasement

cheapestspotinMalaga

By Dilip Kuner

Sierra de Yeguas has been named as the cheapest municipality for real estate in the province with homes costing a wallet-friendly €562 per square metre.

The village, near to the border of Sevilla province, sits in rolling hills close to the Fuente de Piedra lagoon, famous for its flamingos.

The area ‘rich for hiking trails’ is also just 30 minutes from the excellent train connections in Antequera and 20 minutes to the Caminito del Rey.

About 3,400 people live in what was

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.

IF you are looking for a bargain property in Malaga province, head inland… a long way inland!

IDYLLIC SCENES: Sierra de Yeguas (inset) is near the flamingo lagoon

Indoors, outdoors

Want to understand the latest ‘grannycore’ or ‘hipstoric’ trends, interiors specialist Julia Begbie is more interested in lighting that knows no bounds

RESEARCHING hot new interior design trends for 2023 means consulting the Oracle. Yes, I’m referring to TikTok.

And yes, we are all feeling the pinch, and worried about the much predicted downturn.

The last recession, kicking off in 2008, gave birth to the vintage/ upcycling trend which allowed us to keep decorating and carry on – and to do it for free.

So what does social media tell us about the coming trends for 2023?

Well, apparently ‘grandmillenials’ with ‘hipstoric’ interiors will be indulging in ‘weirdcore’.

In plain English, we are going to be nesting again. Colour is back, and smaller rooms are back. Have you just bashed your walls down and gone open plan? Oops, sorry. Small spaces are cosy, and the times are scary.

Nostalgia is rife. Pinterest reports searches for all things old-fashioned, ‘grannycore’, is on the up exponentially.

Brown furniture is also back, and the days when antiques were cheaper than Ikea may be numbered. If I had any loose change, I’d be stockpiling George III walnut furniture (see left, below and far right). Meanwhile, in lighting, the astonishing synergy that is LED + lithium continues to give us design-tastic, go-anywhere light fittings.

We recently moved into a new-build (not our village home here in Spain in Gau-

cin), and we thought we had organised fittings or sockets everywhere that we’d need light. Of course we didn’t, but now it doesn’t matter that we didn’t. We have a couple of ‘Bellhop’ lamps by Flos that light up corners, the centres of tables, and shelves. And in good weather they can go outdoors too.

In the same vein, but hot off the production line, take a look at ‘Curiosity’ by Artemide, and ‘TeTaTeT’ by Davide Groppi. Both do things that lamps haven’t really done before. My final tip is Spain’s NewGarden, and their unit, ‘Cherry’ (far right), which is essentially a battery-powered light bulb. (It’s actually a bit wider, so check the dimensions if space is tight.)

It is wonderfully versatile: I use one as an uplighter on top of a kitchen cupboard, another sits under an upturned Ikea rattan lamp shade as a floor light. They can hang from a piece of string in a pendant fitting, or stand in for a light bulb in an unplugged lamp. In the summer you can take them outside, pop them in a pot, and snuggle them among the plants. If that doesn’t make you smug enough, they come with a remote control.

CONTRASTS: Colour is back, along with smaller rooms and antique walnut furniture

LIGHTING REVOLUTION: ‘Lamps doing things they’ve never done before’

A LITTLE GAUDI GLORY

It might be on the small side for a Gaudi building, but it’s big on style. We form an orderly queue to look inside one of Barcelona’s lesser-known must-see attractions, the Casa Vicens

ANTONI Gaudi is an architect synonymous with the Catalan city of Barcelona.

By far, his most famous work is the unfinished Sagrada Familia cathedral (pictured right).

Findyourparadise

Alison Norton had a dream to move to Spain, and she did it. Now she’s helping others pursue that same dream

NEW real estate agency Alison Norton Properties specialises in property relocation, with the business owner herself moving to Spain from Cape Town in South Africa.

"Moving my family to Spain has been an amazing and eye-opening journey for all of us, yet a worthwhile experience," she said.

"I would be delighted to share with you my successes, and some of the speed bumps that we encountered along the way, but more importantly to share what a wonderful life it truly is here in the Costa del Sol for you and your family.”

YOUR PROPERTY DESERVES THE BEST

SHOWCASE IT IN OUR BRAND NEW OFFICES IN LA CALA

Alison Norton has an excellent track record in listing and selling properties, but also in helping numerous families relocate and start their new lives on the Costa del Sol.

She goes above and beyond just the sale, helping with the Golden Visa, organising renovations and repairs, currency exchange, mortgage broking and even offering English-speaking tax advice.

Operating in brand new and modern offices in La Cala Hills, Alison Norton Properties is passionate about people finding their dream life on the Costa del Sol.

"I have worked really hard to build up a network of trusted business partners throughout my career in real estate so that I can offer my clients a total 360° turnkey solution when it comes to the buying and selling of property on the Costa del Sol," she said.

CONTACT US NOW FOR A FREE VALUATION

We urgently require new properties on the Costa Del Sol due to client demand, specifically in the Estepona, Mijas, and Marbella areas.

Contact us for a free valuation of your property today.

Free more information, contact Alison Norton Properties on +34 654 713 971 or email alison@an-properties.com

By Dilip Kuner

But the architect, who lived from 1852 to 1926, is also responsible for a host of other buildings scattered throughout the city.

Each is a wonderful example of the Catalan Modernisme style of architecture, distinctive for being colourful, eye-catching, and inspired in part by nature.

Some are well-known, including Casa Batllo and La Pedrera.

But also on the tourism map and fast gaining popularity, is the first house he ever built.

Casa Vicens was declared a UNESCO World Heritage site in 2005, but has been open to the public for five years. Carefully restored, the house is close to its original state, providing visitors with a unique insight into the architect’s style.

Gaudi had been qualified only five years when he was hired in 1883 by tile manufacturer Manuel Vicens Montaner to design a summer house in the suberb of Gracia.

Gracia was swallowed up by the city long ago. Now, to any visitor happening upon Casa Vicens in its narrow street among offices and apartment blocks, it comes as a delightful surprise, as if a Moorish palace had arrived on a magic carpet. It is equally delightful and surprising inside where there are stucco walls symbolising reeds and ferns, murals of herons and cranes, and papier-mache cherries and leaves between the ceiling beams. Even the furniture was made to his own design. The influence of Andalucia is appa-

rent in the Arabian smoking room: Gaudi has created a pastiche of the stalactite ceilings of the Alhambra in Granada – his version is made from moulded cardboard. With access limited to 500 people a day, it is best to visit the website (casavicens.org) and book a ticket in advance to avoid disappointment.

Casa Vicens is a prime example of the Catalan Modernisme style inside and out, as well as in its details

Urb. Cala Alta, Calle Acebuche 8, del la Torre, La Cala Hills, Las Lagunas Mijas, 29650

SELLING ON MIJAS COSTA?

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We are still family owned and run and we pride ourselves on our professional service and unrivalled knowledge of the local property market giving you confidence that you will get the right market price when selling your property in the Mijas Costa area.

If you are thinking of moving, we are giving all Olive Press readers the opportunity to receive a

Mijas Costa area free of charge. Just give us a call stating the Olive Press and we’ll be happy to visit at a time convenient to you.

BUYING – SELLING - RENTING

Your estate agent of choice for La Cala de Mijas & Mijas Costa since 1994 Whether buying, selling or looking for a holiday rental, contact us today on 952 492 116

We offer the most comprehensive advertising packages available to our property owners as we advertise on A Place in the Sun, Kyero, Idealista, Think Spain, Google and thousands of other agents use Windsor’s as a first port of call if they have clients looking from El Faro to Cabopino. We guarantee sound advice based on common sense.

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DOOM OR BOOM?

In his 10th anniversary message, Olive Press Property Insider, Adam Neale, asks how the Spanish real estate market is likely to develop in 2023

MOST buyers and sellers I speak to these days keep mentioning the possibility of a downturn ahead. How could they not?

Just look at the news and there are daily reminders about economic headwinds, including in the real estate sector.

I’m sure you know the drill: inflation and rising interest rates, a looming recession, war in the Ukraine and tensions with China.

Yet, at the same time, there remains a lot of optimism in the Spanish property market and in the economy more generally that current problems are short term and temporary. Which version of reality is true and what does it mean for the Costa del Sol housing market?

Should we be optimistic or pessimistic?

Let’s start with the bad news. Inflation has risen due to a number of factors.

Some arising from Covid and the damage to supply chains after restrictions were lifted. Others from inflationary spending during attempts to stop economies from tanking and people going bankrupt.

Of course, there’s also the effect of the war on fuel costs and to try to rebalance the economy, central banks internationally have raised interest rates repeatedly this year.

Whether it works or not, interest rate hikes have a significant impact on the real estate market, in particular as they depress demand

by raising the cost of borrowing.

There is more bad news when you begin to look at the Costa del Sol customer base, for example Sweden which represented 14% of Malaga province buyers.

THE CASE OF SWEDEN

In Sweden, 10-year mortgage rates are now between 4.44% and 4.9%.

On a €200,000 loan that means €1111/ month in debt payment.

A big jump in a year when the same mortgage could be had for 1.5%, giving payments of under €800/month.

And Swedish interest rates are still rising and rates are expected to reach 3.5% to 4% at the very least.

With the premium that banks charge on top of the prime rate, there could be mortgage rates of 6% before the increases end.

As a result Swedish home prices and sales are plunging in response. Prices for homes have declined by over 11% since March. The Riksbank predicts that the price declines will continue, indeed to 19.9% by late 2023 from their peak.

The reason is clear: Swedes are deeply in debt with a ratio of just over 200% debt to net income. In fact, all the Scandinavian countries have very high debt to net income ratios.

My insider view on Zagaleta, Spain’s most exclusive development

HE’S become one of the most trusted faces working in real estate in Zagaleta, the luxury country club credited with being Spain’s most expensive place to live.

Now Adam Neale, of Terra Meridiana, has been given exclusive access to film and promote the kind of lifestyle that awaits its prospective buyers.

In a series of YouTube videos, he explains the history and development behind the private enclave that was once the private hunting estate of Adnan Khasshogi.

In his incisive films shot inside a series of its leading properties for sale, he extolls the high-level of privacy and how its security keeps the lenses of prying eyes and journalists at bay.

“It has security guards with guns and you have to be authorised in advance to get in. A journalist can’t just come in and doorstep a celebrity, for example,” he tells the film.

He also explains the history of how the 900 hectare estate went from planning ‘up to 3,000 homes’ to ending up with a maximum of 420.

The reason for its popularity includes its ‘clear views of Gibraltar (right) and the skyline of Morocco’ while you have access to two golf courses, two clubhouses, an equestrian centre, private heliport and tennis courts.

“Zagaleta services are also on site 24 hours a day to do your cleaning, your laundry, your shopping, anything.”

The Property Insider

by Adam Neale

EXTREMES: From icy Stockholm to sunny Marbella, the situation couldn’t be more different

The only other country in the same league is Holland, with a 222% debt to income ratio. There have also been unsustainable price increases, with Sweden seeing an absurd 32% since 2019, while Holland’s are up by 40%. It is because of this imbalance between debt and income, and the unsustainable growth in prices, the Economist, recently sounded the alarm. “Housing busts and recessions that are preceded by this sort of debt build-up tend to be more severe. With central banks now raising rates at the fastest pace in more than four decades, countries drowning in mortgage debt will once again be exposed to nasty consequences.”

SOME SPANISH SUNSHINE

But don’t panic. Now, the good news. Here in Spain the housing market, which suffered one of the worst crises in the western

world in 2008-2014, is in much better shape. The experience of that crisis had an impact on the behaviour of sellers and buyers, as well as on the broader market, which makes it one of the most resilient in Europe. Household debt is now less than half what it is in Sweden and Holland. In fact, it fell by 50% between 2010-2020, to just over 100% of net disposable income.

In addition, as the market recovered in 2015 from a crisis that saw prices fall a catastrophic 37%, Spaniards began switching to fixed rate mortgages.That ensured they would be protected from exactly the type of swings in interest rates that we’re seeing today. Some 72% of mortgages are now fixed, compared to almost being 100% variable rate mortgages just prior to the crash.

In contrast, in Finland, 96% of new housing loans have variable interest rates while in Sweden it is 48% of new loans

Moreover, Spanish prices have never fully recovered from the last crisis and are mostly still significantly below the 2007 peak. Even with the post-Covid rebound, prices only rose 5.5%. In other words, Swedish house prices increased almost six times as much. There is a consensus that price increases in Spain will ease over the next two years as the economic problems work themselves out. And there is likewise a consensus that Spain will do better than most.

However, what is not certain is what exactly that means. Bankinter believes that prices will fall 3% next year and then 2% in 2024. ING, on the other hand, believes that prices will grow by 1% in 2023 after rising by 7% in 2022.

That still means a real reduction in prices, given that ING expects inflation in 2023 to ease to 4.4%; that is, a 3.4% fall in real prices. That is, in any case, better than the average of a 9% decline in prices that the European Central Bank expects to take place across the Eurozone as a whole.

Optimistic

In the UK, market analysts expect housing prices to fall by 5-10% next year alone. So, Spain’s real estate market is in a better position structurally than most of Europe. There are other elements to consider as well. For instance, Spanish interest rates are likely to remain substantially lower than in other jurisdictions, likely up to 3.6% for fixed rates and 4.1% for variable rates before stabilising (according to ING).

This compares with Swedish fixed mortgage rates moving above 5% and those of the UK also remaining between 5 to 6% over the next two years.

That makes Spanish money cheaper to borrow for people from those two countries and Spain’s cheaper housing and mortgages could be an alternative to more volatile markets at home. Let’s hope so.

In conclusion, I think that there’s plenty of reasons to remain optimistic. I expect that real estate on the Costa del Sol, especially at the higher end, will feel few effects compared to northern Europe. And while, yes, price rises will moderate, we’re unlikely to see a significant decline. Stability and sunshine are my key takeaways then, this year!

Stunning Andalusian-style villa

A wonderful, south-facing Mediterranean property in Marbella Hill Club, one of the most elegant and well-established areas on the Golden Mile. The villa, distributed over three levels, is located in the corner of a quiet cul de sac with just a few other houses.

NUEVA ANDALUCÍA Ref: OP13555

Charming villa walking distance to all amenities

Tel. (+34) 952 863 750

www.panorama.es

ESTEPONA Ref: OP13569

Lovely villa opposite El Campanario Golf Club

Offices at Puente Romano and opposite the Marbella Club hotel

GOLDEN MILE Ref: OP13742

Albarracin, Teruel Height: 1,182

Population: 1,054

Height: 1,523m

Population: 458

GETTING HIGH

LOOKING FORWARD

Mediterranean Home’s CEO and long-time property expert Kelly Summerell looks at what 2023 has in store

Q

A

Did house prices go up or down in 2022?

Prices have gradually gone up in this period, but not by much.

Due to the high demand of properties, many sellers have been putting properties on the market initially at a higher price and if not sold within the first 6/8 weeks then usually they reduce the price.

QIs a particular type of property becoming more or less popular? If so, why?

AA lot of Americans have been inquiring and purchasing property here, which is interesting. It could be due to the Golden Visa rule, or an influx of American tech firms coming to Malaga.

QAre there any new legal/tax/planning implications of buying or selling property either in development or on the horizon of being approved and implemented that people need to be aware of?

YOU’VE heard of the ‘most beautiful towns in Spain’ list, but now there’s a new way to rank the incredible collection of hilltop villages dotted around the country - by how high above sea level they are. Spain’s cliff-hanging enclaves hark back to the times of medieval conquest and even Roman occupation when they were built strategically on summits to command the best view of

enemy invasions.

However as populations continue to move to the cities and coastlines, these historic marvels are coming under threat. While some have benefited from nearby ski resorts, others are facing extinction with populations as low as 41. Here we have rounded up a guide to some of the loftiest villages from around the country which you should visit when you have the chance.

A

People are looking to buy inland as prices on the coast are so high, and for that reason they’re looking to get a property with outdoor space. We specialise mainly in country properties in the Guadalhorce Valley - although we sell all types of property - and we’ve seen booming demand.

Q

What challenges are people typically facing when buying or selling properties?

AA lot of owners seem to think that their properties are fully legal when in reality that’s not always the case. There have been recent changes in the rules and regulations of country property.

So that’s when we step in and we advise them correctly on what they need to do.

Q

What nationalities are moving over to the area and have any increased or decreased significantly in 2022?

A

The best advice I can give any buyer is to use a lawyer that specialises in your type of property and the area where they are buying. If you’re buying a property or country property inland, you need an inland lawyer that specialises in the rules and regulations, which change a lot.

This is where I think that we do business slightly differently. We recommend architects, lawyers, builders, and we do not get paid any referral commission.

QConsidering all of the above, how do you expect the property market to change and develop in 2023?

A

I think 2023 is going to be a good year. I think it’s going to be a very good year for Mediterranean Homes because country homes, which we specialise in, are always in demand. What we’re struggling with at the moment is a lack of product. There’s just not a lot of properties on the market. So it is still a seller’s market.

info@mediterraneanhomes.eu

www.mediterraneanhomes.eu

+34 951 242 157

Bronchales, Teruel Height: 1,575

Population: 480

You’ll have to work hard to find better views at Spain’s most vertiginous villages

ANCIENT: Roman bridge is stunning feature of Navarredonda de Gredos in Avila, pictured from above below

STUNNING: Albarracin has some of the most incredible Moorish and medieval architecture in Spain and has been crowned the country’s ‘most beautiful’ town in the past

Navarredonda de Gredos, Avila

Meranges, Girona

Height: 1,539m

Population: 91

Gudar, Teruel

Height: 1,588m

Population: 73

LOOKING FROM OVERSEAS

The latest property news from BM Sotogrande

USING data from the notaries, it is notable that foreign demand has been propping up the Spanish housing market.

Back in the glory days of 2007, domestic demand from within Spain outweighed foreign demand for property - until the bubble burst.

Since then, while foreign demand quickly recovered and was above 2007 levels by 2014, domestic demand has never quite recovered.

Here in Sotogrande, these wild swings in buyer interest have not really been seen.

The area has always been popular with both Spaniards and investors from overseas, even during downturns.

It is noticeable that interest from overseas has been on the rise, with BM Sotogrande increasing property listings to meet this demand.

The statistics tell their own story. By the first half of this year, foreign demand nationally was 120% higher than in 2007, a situation reflected in Sotogrande.

Currently, the UK is the largest foreign market for Spanish property, followed by Germany.

In recent years, Germany has overtaken France as the second-largest market nationally. This multi-national interest is particularly evident in Sotogrande - as befits an exclusive area founded by an American with the vision to match the Spanish context.

At BM Sotogrande we have some of the most desirable properties that can be found in the leafy urbanization and pleasure harbour on our books.

As Architects and property advisors in the area, founder Bradley Falconer and team are also the font of all knowledge on design and the property market - wherever in the world you are from.

Navadijos, Avila

Height: 1,520m

Population: 41

For all your property needs, please give BM Sotogrande a call on 956 785 092, 626 010 584 or visit www.bmsotogrande.com

JAW-DROPPING: Gudar (above) nestled atop a hill while the charming Meranges and Navadijos (below) have less than 150 inhabitants between them

Los Arqueros Estates sells properties in a ‘secret’ urbanisation that offers the wonders of both the sea and mountains

LOS Arqueros is more than just an urbanisation, it’s a coastal paradise set amongst the foothills of Sierra de Ronda and offers spectacular views of the sea.

Los Arqueros Estates agent Ian Cooper aims to help you find your dream home in what he calls a ‘hidden gem’ on the Costa del Sol.

It’s made up of a collection of individual villages, each with their own unique style. Apartments, town houses, villas and building plots are spread out around the sleek green fairways of the Sevi Ballesteros-designed 18-hole course at the Los Arqueros Golf & Country Club.

It’s located just minutes from the traditional Spanish town of San Pedro de Alcantara and a short drive away from the glitzy ports of Puerto Banus and Marbella.

Cooper, who retired from professional ice

hockey in the UK after 80 caps for the national team, has been on the Costa for 21 years.

He said he has always found the area easy to sell and said it represents good value in today’s market.

“First developed by a Swedish company and completed by Taylor Wimpey over the years has meant the UK market has also been strong here and now we have seen a number of Scandanavian and Benalux clients buying recently,” he said.

“Los Arqueros has excellent all round value in a community which is consolidated, safe, well established and 100% legal.

“It is so underestimated by agents and clients alike. You can’t beat the quality of the property and location for the price.”

Los Arqueros Estates specialises in selling properties ranging in price from €250,000 to just over €6 million.

ARUINED sugar factory will be getting a new lease of life as part of a project for a residential home for the elderly.

Marbella council is spending a total of €10 million on the project - €6 million for the planned home and €4 million to restore the historic Trapiche del Prado mill.

While the building is in ruins, it still retains much of the original structure including the rooms in which sugar was extracted from cane - once a major crop in the area.

The oldest references to the Trapiche go back to 1644, with its first owners named as Mateo Marco and Gaspar Pompes. In 1720, the complex was acquired by the Inquisition of Granada, which expanded the factory to satisfy the growing

Marbella’s old sugar factory to be restored

By Dilip Kuner

demand for sugar.

But then in the middle of the 19th century, the manufacture of sugar was no longer profitable and the trapiche switched to making wine and brandy. This continued well into the 20th century until production stopped and the factory fell into ruins.

The plan is to now turn the ruins into an ‘interpretation centre’ highlighting the building’s history and the old industrial activity of Marbella. The main elements - such as the wooden roof and floors as well as an aqueduct- will be restored.

The Trapiche del Prado - also known as the Trapiche de la Inquisicion or Trapiche de Marbella

is located just two kilometres north of the historic city centre. Building work on the home for the elderly has already begun, which will be carried out in two phases over 14 months and have room for 150 residents in two new buildings. Originally the home should have been built in 2010, but the firm the contract was awarded to could not complete due to the aftermath of the financial crisis.

Reception

Both buildings will have double and single rooms, with bathrooms, a reception and waiting area for visitors, kitchen, dining room, laundry and linen space, common areas and living rooms, as well as sections for specialised care and nursing.

Andalucia Country Houses tel: +34 689 992 163 / +34 631 439 907 / +34 618 223 817 email: sales@andalucia-country-houses.com

631 439 907 / +34 618 223 817 email: sales@andalucia-country-houses.com

Avenida de Andalucia, Montejaque, Malaga www.andalucia-country-houses.com

Avenida de Andalucia, Montejaque, Malaga www.andalucia-country-houses.com

Andalucia Country

Andalucia Country Houses Estate

Andalucia Country Houses

Montejaque, Serrania de Ronda

Montejaque, Serrania de Ronda

Agents, owned by mother and daughter team Karen and Victoria Pedrazzini. Karen has lived and worked in Andalucia in the property and hotel business since 1987, her years as an owner of a boutique hotel gives her a special brand of expertise when it comes to finding rural tourism business for clients. Victoria is a qualified architect with 15 years experience, registered in Spain and the UK. She has worked on high end projects in Spain and the UK. An invaluable person to have on your team if you are thinking of buying a renovation project.

Houses Estate Agents, owned by mother and daughter team Karen and Victoria Pedrazzini. Karen has lived and worked in Andalucia in the property and hotel business since 1987, her years as an owner of a boutique hotel gives her a special brand of expertise when it comes to finding rural tourism business for clients. Victoria is a qualified architect with 15 years experience, registered in Spain and the UK. She has worked on high end projects in Spain and the UK. An invaluable person to have on your team if you are thinking of buying a renovation project.

Estate Agents, owned by mother and daughter team Karen and Victoria Pedrazzini. Karen has lived and worked in Andalucia in the property and hotel business since 1987, her years as an owner of a boutique hotel gives her a special brand of expertise when it comes to finding rural tourism business for clients. Victoria is a qualified architect with 15 years experience, registered in Spain and the UK. She has worked on high end projects in Spain and the UK. An invaluable person to have on your team if you are thinking of buying a renovation project.

7 bed • 6 bath • Build 320m2 • Plot 32,584m2

7 bed • 6 bath • Build 320m2 • Plot 32,584m2

7 bed • 6 bath • Build 320m2 • Plot 32,584m2

SELLING COUNTRY PROPERTIES SINCE THE LATE 1990’S and traditional village houses in some of the most beautiful areas of inland Andalusia. After more than 25 years of working in Andalusia, we have decided to concentrate our business into our absolute favourite area of the province – Ronda and Serrania’s. We opened an office in Montejaque in 2021, it is a great base for being able to effectively cover the entire Serrania de Ronda. We sell whether it be a luxury country villa, traditional cortijo or finca, a working farm, a vineyard, an equestrian property, small hotel or guesthouse, bed and breakfast, country home or character village house, then you come to the right company!

SELLING COUNTRY PROPERTIES SINCE THE LATE 1990’S and traditional village houses in some of the most beautiful areas of inland Andalusia. After more than 25 years of working in Andalusia, we have decided to concentrate our business into our absolute favourite area of the province – Ronda and Serrania’s. We opened an office in Montejaque in 2021, it is a great base for being able to effectively cover the entire Serrania de Ronda. We sell whether it be a luxury country villa, a traditional cortijo or finca, a working farm, a vineyard, an equestrian property, small hotel or guesthouse, bed and breakfast, country home or character village house, then you have come to the right company!

SELLING COUNTRY PROPERTIES SINCE THE LATE 1990’S and traditional village houses in some of the most beautiful areas of inland Andalusia. After more than 25 years of working in Andalusia, we have decided to concentrate our business into our absolute favourite area of the province – Ronda and Serrania’s. We opened an office in Montejaque in 2021, it is a great base for being able to effectively cover the entire Serrania de Ronda. We sell whether it be a luxury country villa, a traditional cortijo or finca, a working farm, a vineyard, an equestrian property, small hotel or guesthouse, bed and breakfast, country home or character village house, then you have come to the right company!

Always at your service!

We are always looking for new listings

IN HOT DEMAND: Country homes with swimming pools in the €400,000 - €600,000 region

A beautiful property with a Rural Tourism license that is divided into two houses within an area of more than 32.000m2 with olive and almond trees, fruit and walnut plantation. The two houses are independent but are connected by a beautiful patio with a fountain. It is located approximately 1hr from the airport in an ideal location for hiking, cycling, horse riding and the famous “Caminito del Rey”. The first house has an independent apartment that is being used as a private area (1 bedroom, 1 bathroom, living room and roof terrace with views). On the ground floor there are 2 bedrooms with 2 bathrooms. The second house has 4 bedrooms with 3 bathrooms. The kitchen has a central island and is open in conjunction with the breakfast area and the main lounge. These spaces have wooden ceilings and lots of natural light. In the inner courtyard there are rest areas.

A beautiful property with a Rural Tourism license that is divided into two houses within an area of more than 32.000m2 with olive and almond trees, fruit and walnut plantation. The two houses are independent but are connected by a beautiful patio with a fountain. It is located approximately 1hr from the airport in an ideal location for hiking, cycling, horse riding and the famous “Caminito del Rey”. The first house has an independent apartment that is being used as a private area (1 bedroom, 1 bathroom, living room and roof terrace with views). On the ground floor there are 2 bedrooms with 2 bathrooms. The second house has 4 bedrooms with 3 bathrooms. The kitchen has a central island and is open in conjunction with the breakfast area and the main lounge. These spaces have wooden ceilings and lots of natural light. In the inner courtyard there are rest areas.

A beautiful property with a Rural Tourism license that is divided into two houses within an area of more than 32.000m2 with olive and almond trees, fruit and walnut plantation. The two houses are independent but are connected by a beautiful patio with a fountain. It is located approximately 1hr from the airport in an ideal location for hiking, cycling, horse riding and the famous “Caminito del Rey”. The first house has an independent apartment that is being used as a private area (1 bedroom, 1 bathroom, living room and roof terrace with views).

On the ground floor there are 2 bedrooms with 2 bathrooms. The second house has 4 bedrooms with 3 bathrooms. The kitchen has a central island and is open in conjunction with the breakfast area and the main lounge. These spaces have wooden ceilings and lots of natural light. In the inner courtyard there are rest areas.

ref: ACHK796 – 595.000€

ref: ACHK796 – 595.000€

ref: ACHK796 – 595.000€

Cañada del Real Tesoro

Cañada del Real Tesoro

del Real Tesoro

3 bed • 2 bath • Build 125m2 • Plot 75m2

3 bed • 2 bath • Build 125m2 • Plot 75m2

3 bed • 2 bath • Build 125m2 • Plot 75m2

A double fronted rennovated home overlooking the Guardiaro River. This spacious, light and airy home is an ideal property for semi or full time living. The house has been very well rennovated and benefits from double glazed hermatically sealed windows and exterior doors, a wood burning stove, two modern large bathrooms, ceramic terracotta tiling throughout the ground floor.

A double fronted rennovated home overlooking the Guardiaro River. This spacious, light and airy home is an ideal property for semi or full time living. The house has been very well rennovated and benefits from double glazed hermatically sealed windows and exterior doors, a wood burning stove, two modern large bathrooms, ceramic terracotta tiling throughout the ground floor.

A double fronted rennovated home overlooking the Guardiaro River. This spacious, light and airy home is an ideal property for semi or full time living. The house has been very well rennovated and benefits from double glazed hermatically sealed windows and exterior doors, a wood burning stove, two modern large bathrooms, ceramic terracotta tiling throughout the ground floor.

ref: ACH113 – 120.000€

ref: ACH113 – 120.000€

ref: ACH113 – 120.000€

Cañada

Montejaque, Serrania de Ronda

We are always looking for new listings IN HOT DEMAND: Country homes with swimming pools in the €400,000 - €600,000 region

Always at your service!

can call Ian on 952 764 067 to have a chat about buying or selling in Los Arqueros to suit your requirements and budget.

Fuengirola centre within Pueblo Lopez area, spacious bright and sunny apartment in quiet position with pleasant views to the gardens and mountains, comprising of 3 bedrooms, 2 bathrooms, kitchen, utility room, lounge and 2 terraces. All exterior making all rooms sunny and bright. Ideal home with all public services, shops and beach within walking distance.

Ref: L001 – 265.000 €

Alhaurin El Grande, fantastic villa built on one level on flat plot near the town, very pleasant and sunny. It offers 2 bedrooms, bathroom, kitchen, lounge, conservatory, large terraces surrounding the house facing the garden and private swimming pool, lock up garage and parking area, it has great rental potential and makes a fantastic home!

Ref: 198 – 325.000 €

Fuengirola, Torreblanca low part, detached villa in very quiet and sunny position within walking distance to train station, 10 min walk to sea front and all services. Comprising of 3 bedrooms, 2 ½ bathrooms, fully fitted modern kitchen, lounge-diner, covered terraces and patio, leading to swimming pool, garden, terraces with sea and mountain views, separate bedroom with bathroom, parking area and carport and lots more. 212m2 built on 981m2 plot.

Ref: L009 – 520.000 €

A real gem in the middle of town surrounded by houses in a very peaceful area close to all services, this large house offers lots of space and sun all day, compromising of 2 double bedrooms (1 en-suite) 2 bathrooms, guest toilet, kitchen, large lounge diner leading to large private patio where it is possible to install a swimming pool or build another bedroom or more space. Build area approx. 130m2 and 52m2 patio. Must be seen to be appreciated. Safe investment and perfect home!

Ref: 052 – 425.000 €

Las Lagunas, Mijas área, a unique penthouse in good location near shops, schools and all kind of amenities, makes an ideal Family home to enjoy large solárium and lounge, 18 m2 terrace with sun all day. Comprising of 82 m2 living area with 2 single bedrooms, 2 bathrooms, fully fitted kitchen, utility room and 82 m2 solarium. Good condition ready to move in with underground garage space. Must be seen!

Ref: 148 – 215.000 €

Fuengirola centre, Pueblo López, beautiful townhouse in very quiet position with all amenities and services at the doorstep. Ideal Family home and great for rental income. Very bright and spacious with 2 bedrooms, bathroom, guest toilet, fully fitted kitchen, spacious lounge with fireplace leading to private patio. Excellent condition, definitely worth a visit.

Ref: 069 – 395.000 €

Mijas Costa Cerros del Aguila, within beautiful and exclusive complex this garden apartment offers lots of space making an ideal home with beautiful communal áreas and surroundings. Offering 3 bedrooms, 2 bathrooms, fully fitted kitchen, spacious lounge, large terrace leading to private garden with mountain views. Private parking. Ideal home and and great rental potential.

Ref: L002 –335.000 €

HAVE A LOOK AT OUR WEBSITE AND FIND YOUR PERFECT HOME.

EITHER SECOND HAND OR UNDER CONSTRUCTION WE ARE GOING TO GUIDE YOU ALL THE WAY THROUGH YOUR PURCHASE EXPERIENCE.

WE NEED PROPERTIES FOR KEEN CLIENTS WAITING TO BUY A HOME OR INVESTMENT PROPERTY. CONTACT US WITHOUT COMMITMENT AND WE WILL PROVIDE VERY INTERESTING AND USEFUL INFORMATION!

TEL: 952 664 966 INFO@IMPERIALESTATE.COM

WWW.IMPERIALESTATE.COM

Have a look at our website and find your perfect home. Either second hand or under construction we are going to guide you all the way through your purchase experience.

ALHAURIN EL GRANDE

FUENGIROLA CENTRE

FUENGIROLA, TORREBLANCA

LAS LAGUNAS, MIJAS AREA

FUENGIROLA CENTRE

FUENGIROLA CENTRE

MIJAS COSTA

NIGHT SALE National roundup

Foreign domination

Night Manager estate soldbyBritishlord for massive €62m

By Alex Trelinski

A STUNNING Mallorca fortress that became internationally known as the setting for BBC thriller The Night Manager, has a new multi-million owner.

Norwegian billionaire Ivar Tollefsen paid an incredible €61.8 million for La Fortaleza, in Pollensa. While the purchase went through a year ago, the details have only recently been made

public.

The protected castle was previously owned by Brit Lord James Lupton, who the Olive Press revealed paid €45 million in 2011.

The 350-year-old estate was de-

No Brits allowed

SPANISH officials are calling on the European Union to grant a ‘Balearic exception’ that would limit non-resident Brits and Germans from buying second homes on the islands.

The Balearic authorities have cited rules in the Aland Islands in Finland, where there are limits on buying second homes. Croatia meanwhile limits EU citizens who have not lived there for at least 10 years from buying agricultural land. Beyond the EU, Canada also recently introduced a two-year ban on property purchases by non-residents with exceptions for immigrants and legal residents.

Balearic vice-president Juan Pedro Yllanes insisted it is not a xenophobic measure intended to target foreigners ‘but about stopping non-residents from buying up homes and making it impossible for young people on the islands to afford rental places’.

clared an Asset of Cultural Interest in 1993 and will continue to host functions and be used for filming.

Tennis star Rafa Nadal and footballer Gareth Bale both got married there.

It has long been popular with foreign owners, with Argentine painter Roberto Ramauge buying it in 1919 and turning it into a luxury residence.

However, it was seized by Franco’s forces during the Civil War and legal wrangling meant the Ramauge family did not repossess it until 1984.

The next owner, a Brit, John Ogden, purchased it in 1989 spending millions on renovating the 232 acre site. He eventually put it on the market in 2008 for an unbelievable €125m before selling it three years later to Lord Lupton for a third the price.

SELLING OR BUYING?

ATTENTION TO ALL PROPERTY SELLERS: PROPERTIES WANTED, BUYERS WAITING!!!

TORREVIEJA and Orihuela are Alicante’s top areas for foreign property buyers.

Valencia’s Notary Association show the two municipalities accounted for over a third of all overseas home deals in the province, last year.

Torrevieja recorded 4,854 foreign sales between January and September - up 96% on the same period in 2021, when the pandemic severely depressed the market.

The total was 57% more than in the pre-pandemic year of 2019.

The largest group of overseas buyers came from Sweden (787) followed by Germany (484). Orihuela mirrored Torrevieja’s big rise - 85% more than in 2021, and a 53% increase on 2019’s foreign sales.

In contrast, British purchasers dominated with 823 buyers, followed by Belgians on 504. Alicante City was the third biggest in the region with 2,231 foreign home sales led by Algerian, Russian, and Ukrainian buyers. Calpe was fourth on the list (804), closely followed by Santa Pola (766).

The Notary Association said that foreign buyers largely stuck to coastal areas and that has resulted in a property boom in some municipalities, but quiet trading inland. Nearly 80% of second home buyers in the Valencian Community last year were foreigners.

NO ONE WILL WORK HARDER FOR YOU! NEXT HOUSE ALMERÍA IS YOUR REAL ESTATE ADVISOR!

STAR: Hugh Laurie filmed at the estate

EXCEPTIONAL SERVICE FROM US TO YOU.

If you are considering selling your property, we would love to help you with that. Strand Properties sells homes in a new way with a modern and fresh marketing to a wide international client base. Our high-quality pictures, sales styling and exceptional marketing concept will bring out the best in your property. +34

by mortgage broker Tancrede de Pola

RISING RATES

Euribor hits highest level since 2008

THE ongoing rise of the 12-month Euribor (base rate) could cost the average mortgage holder €286 a month.

The Euribor is the most commonly used benchmark for the calculation of home loans in the country, and is currently at a level not seen since December 2008.

At the end of January, the 12-month Euribor was at a monthly average of 3.337%, which will mean that an average 25-year mortgage of €150,000, and with an interest rate of the Euribor plus 1.5%, would cost borrowers an extra €286 a month were it to be recalculated based on the January figure. That’s around €3,430 a year.

The rise in January from December was 32 basis points, up from 3.018% that month. Compared to the same month in 2022, the rise is 3.8 points, given that a year ago the Euribor was actually in negative territory, at -0.477%.

The reason that the rate is on the rise – the sharpest since it was created – is thanks to the change in the European Central Bank’s monetary policy.

Last year saw the central lender raise rates

BUILDING FOR THE

By Nadia McDonald

APROJECT for what is claimed to be the first zero-carbon luxury home in Spain has gone on sale.

Running costs for the eco-home are expected to be 90% cheaper than similar new builds.

The villa will run on 100% carbon free energy supplied by a ‘domestic hydrogen power system’, developed by British company Creo International. Solar panels will produce hydrogen from water which will power a generator to provide electricity. The system’s only emissions are oxygen and water which can be redirected to the property’s garden.

on four occasions in a bid to combat high inflation in the eurozone.

One expert told news agency EFE that he expected rates to reach 3.5% or 4% at the end of the first quarter of 2023, or at the beginning of the second.

Rates payable by borrowers are calculated by adding the bank’s margin, effectively what they earn, to the base rate so, we can improve our client’s outcome by negotiating reduced margins with the lenders and that is what we at the finance bureau are focussing on at this time.

With rises such as these it is more important than ever to search for the best deals available. Give us a call at the Finance Bureau and we can help you.

Meanwhile, fully-insulated walls will provide maximum energy efficiency and temperature regulation for the property in La Cala de Mijas.

The onsite power supply will significantly reduce the overall running costs, with excess solar energy stored to ensure the home is fully self-powered throughout the year.

The project on Calanova golf has been designed by Marbella-based Architectural Design Team, and will use other renewable technologies, including underfloor heating. It will also have a Tesla battery charging station.

It is being sold for €2.5m through Mediterranean Homes and will be completed within 12 months of the project being sold.

STEEP RISE: Around €286 a month more

BUYING OFF-PLAN? YOU BETTER READ THIS

Julie Savill at the Spanish Estate Agent offers an eightstep guide to getting it right

ABOVE all get in early on a development which has lots of advantages, from having the pick of the locations to some of the best prices available. Here are my key eight tips.

1. Developments are usually released and built in phases. The earliest tend to offer prices well below those of the later phases and the earlier you buy in, the lower the cost. By the time a development is finished the first villas and apartments can often have appreciated in value by up to 25%. That, and the letting potential for property on the Costa del Sol makes buying off-plan attractive to investors and those looking for a holiday home they might rent out for a few weeks a year.

2. Location, location, location! When a phase is released there is the widest choice of units available. You’ll have the pick of all the different villas or apartments, the chance to choose the best view or the best proximity to facilities such as restaurants, golf course, gym or lake.

3. You can view developments in person or, in many cases, via an online tour. Some of these are recorded and include CGI for properties yet to be constructed, some are conducted live (if building has already started) and they can give you a really good idea of the development, the facilities and the views.

4. During a viewing you’ll find out about the fixtures and fittings that you can choose to finish each property. Some properties have a range included in the price, for others you can choose to upgrade to have exactly what you want at additional cost.

5. So you’ve finally seen the one? It’s time to visit an independent lawyer who will run through the contract and explain the terms including delivery date for the completed property, guarantees and the finished price. Once you are happy with the

terms, you can sign the contract and pay a deposit to secure the property. This is usually €6000.

6. At this stage you can apply for your NIE (Número de Identidad de Extranjero, which translates as Identification Number for Foreigners).The NIE is your identification and tax number in Spain. You need it for everything that involves any official process in Spain. For example, to buy a property, buy a car, get connected to the utilities and pay your taxes.

7. Prior to completion you’ll have the chance to ensure that construction is complete and that any snagging has been done. At completion the balance of the purchase price is payable and your lawyer can register the property in your name.

8. The Spanish government requires all developers to have a bank guarantee to cover any payments you make. In the unlikely event that a developer doesn’t finish the project your money is secure.

in Estepona and we are at www.thespanishestateagent.com

If you want to know more we’d be pleased to talk to you at the Spanish Estate Agent. Our head office is

‘FORGET MARBELLA - THE BEST QUALITY OF LIFE (AND VALUE) IS IN SOTOGRANDE!’

Sotogrande agent Ben Bateman, at Holmes, on why increasing numbers of the super-rich are swerving Marbella and Benahavis to head a little further west

IT’S a common mistake - and totally incorrect - to assume that nowhere is comparable to Marbella in Andalucia for the super-rich buyers.

Sotogrande has proven to be a massive draw for the global elite, with increasing numbers of wealthy professionals settling there.

As Ben Bateman, 44, the boss of one of the coast’s longest-established agencies, Holmes, explains:

“Sure

property prices are now fetching between the €10 million and €20 million mark. And our quality of life here is far superior.”

Aside from the well-known advantages in the Cadiz resort, such as its leading international school, its famous golf

courses, such as Valderrama, its polo, dressage and sailing, it now has a much stronger all-year round community.

“It’s incredibly popular to live here now and out of 6000 homes only around 400 are for sale,” continues the father-of-five, who grew up in the enclave playing polo and golf.

“So many more people are living

here all-year round and the facts are people who would previously have only looked in Marbella are now coming to take a look around Sotogrande too.

“The overall quality of life, the great climate, the great schools, the fabulous connections, the demand here now is very solid.”

Much of this is due to the fame of Sotogrande that has ‘grown massively’ in recent years, as well as the necessity to crush a few unfound-

ed claims.

For decades, Bateman insists, agents up the coast in Marbella have been claiming Sotogrande is too windy’.

“Agents in Marbella have been killing Sotogrande for 40 years claiming this and that, but it’s not windy at all. In fact the climate is perfect.”

The best thing about the market today, he explains, is that all of the 325 homes currently for sale through Holmes, all of them are ‘priced and ready to sell’. This is an historically low number for the agency that was set up by Ben’s father Ian in the 1970s.

“We had 675 listings in March

2020, but cleared house and made sure we had under half that by January 2021.

“The good news is vendors here today are realistic and they have taken the decision to sell for good reasons.

“While it means I may only be able to show potential buyers five houses, they will all be in their criteria and are in the perfect position to buy.”

FACILITIES: The yachting harbour is just one of many amenities available

On top of that as the vast majority of owners are not mortgaged up to the hilt, the sellers are not selling out of a worry at rising interest rates. In 2021 only around 15% of the total value of sales by Holmes was financed, with 85% coming from equity. This had dropped to a split of 25/75% by last year, a level which Bateman expects it to stay.

“Most buyers coming here now are coming with a longer term plan of five to 10 years minimum, they are coming to live here for long periods, past their kids going to school and university.”

For more information, contact Holmes Sotogrande on +34 956 79 53 40 or on info@ holmesotogrande. com or visit www. holmesotogrande.com

GOLDEN SANDS: are just a short step away

SPACIOUS: Sotogrande has plenty of beaches, sports and upmarket properties such as those in la Reserva (below)

“Sotogrande is in no way inferior to Marbella’s Sierra Bermeja or nearby Zagaleta.

the prices are lower, but today

SUN FINALLY WON

How an innovative bid for sustainability got round the draconian rules in the historic quarter of Ronda and... made a great saving

WHEN the owner of Ronda Romantica, an Aparthotel in the historic town of Ronda, decided to become more sustainable and save money with solar panels she approached leading solar installation company, Mariposa Energía.

The first step of the project was to analyse the typical energy consumption to determine how much electricity the solar installation needed to produce. The next step was to undertake a survey, looking at the available space and the shape of the roof to establish the optimum position for the panels.

A team of expert engineers then created an initial design, geared around the fact that the 18th century property was in a protected zone in the casco historico and was therefore a listed building. This meant there were restrictions

on what could be done to the exterior of the building, and in particular the part of the roof that would catch the highest level of sunlight during the day was rejected by the town hall as the panels would be visible from the street.

It meant a rethink and the team had to work innovatively to create a design that would meet the needs of the owners, while also complying with the strict local restrictions. Following discussions with the ayuntamiento and the submission of reams of paperwork the green light was finally given to go ahead.

From there the installation moved fast and all works were completed in under two days.

“We are fortunate to have some of the best engineers and installers and so we are always able to come up with bespoke solutions that mitigate challenges, whether that be the type or size of roof or local re -

strictions,” explained Mariposa CEO, Martin Tye. Providing a complete turnkey solution for the five-apartment accommodation, Mariposa handled the legalisation of the installation, the application of a grant from the Junta that could be up to

25% of the cost, and arranged for any surplus energy produced to be sold back to the National Grid.

Ronda Romantica now has a complete solar energy solution which, in January alone, saved the owner €185. And with energy consumption much higher during the spring and summer, those savings are only set to rise.

“It is not just a great return on investment, but having solar panels means we can be more sustainable,” explained owner Gabriella Chidgey. “We wanted to put them in when we opened a couple of years ago, but it was difficult to get the licence and we knew we needed to save up a little before we could afford them.”

GREAT GIZMO

An excellent add on is that all Mariposa’s installations come with an app, allowing clients to see, in real-time, exactly how much electricity is being produced and how much is being consumed. During the month of January, Gabriella could see that 530kW was produced by the 22-panel installation and 342kW were consumed, allowing the remainder to be sold back to the grid.

GREEN BOOST

What’s more, the solar panels are saving a staggering four tonnes of carbon dioxide from being released into the atmosphere each year. Over the lifetime of the panels it will amount to an impressive 120 tonnes, a very positive step in the fight

against climate

“With the planet’s average temperature on the rise, climate change is a problem that cannot be ignored,” explained Tye, who launched Mariposa three years

ago, from its headquarters in Marbella.

“We’re already seeing the effects of climate change with a rise in freak weather conditions and weather-related disasters and that situation is only set to get worse.

“One of the main contributing factors to climate change is the carbon emissions released into the atmosphere by the production of traditional fossil fuels and so by moving to solar energy we can dramatically cut those carbon emissions and make a real positive

difference to the future of our planet.”

Concluded Gabriella: “We have noticed more and more travellers and guests taking an interest in the environment, so we are careful about the products we use and leave out for them.

“Having this installation will be another positive way to satisfy them.”

For more information visit www. alcantarilla.co.uk or www.mariposaenergia.es

HARDLY SEEN: Panels conform with town hall rules and are inobtrusive

APARATUS: Small operating space and app (below) to measure savings

The secret is out!

Located just minutes from the traditional Spanish town of San Pedro de Alcantara, Puerto Banus and Marbella and set amongst the foothills of Sierra de Ronda, Los Arqueros Golf & Country Club offers a combination of spectacular properties, outstanding surrounding scenery, open spaces and exceptional views over the Mediterranean.

Los Arqueros is more than an urbanisation, it’s made up of a collection of individual “villages” each with their own unique style. Apartments, town houses, villas and building plots are spread around the sleek green fairways of the Sevi Ballesteros-designed 18-hole course.

First developed by a Swedish company and completed by Taylor Wimpey over the years has meant the UK market has also been strong here and now we have seen a number of Scandanavian and Benalux clients buying recently.

And why?

Well that’s easy, excellent all round value in a community which is consolidated, safe, well established and 100% legal.

Los Arqueros Estates is headed by Ian Cooper, who has been selling properties at Los Arqueros for 21 years.

“Los Arqueros is a spectacular place,” he explains, “it is so underestimated by agents and clients alike. You can’t beat the quality of the property and location for the price”.

It not all about Sevi Ballesteros’ 18-hole golf course either.

You can call Ian on 952 764 067 to have a chat about buying or selling in Los Arqueros to suit your requirements.

As Ian points out, “a short drive away is the white village of Benahavis named the gastronomic corner of Andalucia with dozens of great restaurants. Added to this you can find a host of other sports activities and professional instruction all on site.”

Los Arqueros Golf & Country Club, as its name suggests, provides more than a challenging course with stunning surroundings, other great facilities, such as the tennis & paddle courts, gym, driving range, Pro shop, restaurant, bar and sports bar with ten-pin & billiards are all on site.

Anyone not familiar with Los Arqueros Golf & Country Club in Benahavis are in for a pleasant surprise. Firstly its location is amazing, offering stunning sea views towards the Mediterranean, with a backdrop of La Zagaleta and Sierra Bermeja and all just a few minutes away from the beach, Marbella and Puerto Banus. We have has chosen to specialize in selling properties in Los Arqueros Golf and Country Club, with properties ranging in price from €250.000 to just over €6 million. This allows a wide range of people the opportunity to experience a fabulous lifestyle and to enjoy all the facilities this development has to offer.

Head Start!

Swedish

Q Hi Chris, so why and when did you move to Spain?

A

My family bought a holiday home in Benalmadena in the 1980s so we spent most of our school holidays here growing up.

QYou must have loved that, so when did you move here permanently?

A My family ended up moving here in 1997 and I moved two years later after finishing my social science degree in Gothenburg, Sweden. I initially studied Spanish language and culture at the University of Malaga for a year, before becoming a trainee at one of the big real estate companies of the time, before founding the StartGroup in 2003.

Q Where did you first settle on the Costa del Sol?

A My parents moved to Benalmadena and I started there before also living in Fuengirola, Estepona, Marbella and for the last 15 years in Calahonda.

Q Have you travelled much of the world?

ACOMMON question I’m asked is what qualifications you need to be an estate agent on the Costa del Sol. The short answer is: None.

The requirement for a license was abolished nationally in 2000, leaving legislation up to the autonomous regions.

Meanwhile, what are the regulations on how we have to work? The short answer: Many (especially in Andalucia). It’s a strange contradiction and this is why:

While you don’t need a license - or even any training - to work as an agent here, the Junta de Andalucia regulates how we must work.

And if (and when) an inspection comes there are huge fines if certain things have not been carried out.

This includes agents doing due diligence on every property marketed with each one needing a correct description in terms of metres squared, local property taxes, its energy certificate, etc etc. And if not correct (and in Spanish!) the fine is €3000 per property.

Given the average agency has around 75 listed properties the fines can get expensive.

You must also have an established protocol for the prevention of money laundering (AML) and evaluate all buyers accordingly.

Surrounded by golf

Indeed, since 2010, all clients have to be catalogued and the fines for non/compliance are hefty; from €6000 for a minor mistake to up to €1,5M for serious errors. It is of no relevance if the agent was unaware of any laundering - the fines can be given simply for not having the protocol in place.

Modern design

Private gym and spa

Agents must also comply with data protection laws in Spain and notify the Spanish agency (AEPD) of how data is protected.

Huge saltwater pool with beach entry

Ultimately Andalucia has a reasonable regulatory framework in place, but there are far too few inspections to enforce the rules and far too many firms not obeying them.

Unfortunately, this has been the case for decades, which has given the profession a bad name. And it’s particularly sad that so many clients are still getting the wrong advice for one of the biggest investments of their lives.

AA fair bit, my mother worked at SAS airline when I was a child and we had the benefit of travelling on staff tickets with a 90% discount. It was great for a big family like ours, but the disadvantage was that they wer always ‘stand by’ so we usually had to spend a few extra days in places when we needed to get home. I once got stuck in South Africa for

an extra 11 days... These days I’m still a keen traveller, it is one of my real passions, and we spend as much time as we can travelling the world. I have visited 32 countries so far and my favourite spot - so far - is Redang Island, in Malaysia, as I am a keen scuba diver.

QWhat about back home here at weekends?

WHAT QUALIFICATIONS DOES AN AGENT NEED IN SPAIN?

A Well, during winter we spend as much time as possible skiing in the Sierra Nevada. We bought a small apartment a few years ago and it has proved to be one of the best lifestyle investments ever!

Q I bet… so what sort of changes have you really noticed over the last 20 years here?

A The biggest change is the growth of the international community. When I started most clients were Spanish or British, but in the last 15 years the Scandinavian population has exploded. We are also now also seeing more central and eastern Europeans, especially from the Baltic countries.

Q What are the main frustrations of living and working here?

A I guess I eventually got used to the famous red tape and ‘buro-crazy’ , but one thing still very frustrating is the length of time it takes to get building licences approved. And the lack of professionalism we still encounter in the industry is staggering.

Q How would you attempt to improve the situation?

THE SOLUTION

Some regions in Spain now require a licence for agents to work.

It began with Catalunya which led the way in imposing requirements in 2010 and this summer Valencia followed suit, with one in Andalucia in the pipeline and expected to soon be passed.

It means that agents have to register in a central registry and each must have an approved training diploma, liability insurance of €600.000 or more and proper premises that clients can physically visit.

In Valencia, agents can work without offices but only if they have liability insurance of over €1 million.

The course for a diploma has questions on real estate law, contracts, and procedures, etc, etc, and

each approved course consists of a minimum of 200 taught hours.

I was recently at an API association of real estate conference in Barcelona where the boss of the Catalan Registry underlined the benefits the system has for clients.

Fundamentally, both buyers and sellers have the reassurance they are getting advice from a qualified professional, who also has insurance to cover any mistakes, as well as protect the clients’ deposits!

I really welcome this development as it is something the StartGroup has been preparing for for the last decade.

We are already registered in Catalunya with the API ANAI licence, and we were the first agency globally to get the AIPP international training certificate for all our staff in 2020.

We are also active in the national real estate association GIPE, where we are working on a voluntary basis to help bring in the coming changes in Andalucia.

Membership in GIPE gets the agents access to legal advice, courses and networking within the community of estate agents.

A Through my work in a variety of professional associations we are trying to bring about change. I am currently renewing one of the oldest real estate associations in Spain, called GIPE. As part of a new board I am making its headquarters an attractive meeting place where professionals can get legal advice, training and work together to achieve higher standards for the industry. A focus on happy clients is one of my passions and is what motivates me more than anything.

Christofer Fogelberg has been an agent since 2001 and a member of the API, GIPE and AIPP associations. StartGroup has offices in Calahonda, La Cala and Benalmadena and the team are all fully-trained and speak 10 languages.

agent Christofer Fogelberg of StartGroup explains why he lives in Malaga and (below) why he wants to see the market properly regulated this year, like in Valencia and Catalunya