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.

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. in Estepona and we are at www.thespanishestateagent.com

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.