GOING ALFRESCO
The pleasure of outdoor kitchens - see page 22
See page 32
ALEADING Spanish bank has completely changed its prediction for house prices this year.
Bankinter had last year predicted a 2% fall in house prices across the country.
But now the Madrid-based bank has made a massive U-turn and foresees prices RISING by 3%.
A recent report ruled that prices will rise throughout this year ‘at least in line with estimated inflation in Spain', although it does not rule out a possible slowdown.
ANCIENT & MODERN
The Olive Press puts a focus on the architecture of northern Spain, from Medieval farmhouses and ancient palaces to the latest industrial designs
FALL AND RISE
GiantU-turnseesbankexpectasharpriseinprices whenlastyearitpredictedadropfor2024
By Alex Trelinski
In 2023, prices went up 4.2%, compared to the projection that they would grow by only 1.2%.
Bankinter, a joint venture between Santander and the Bank
of America, says that 2025 will continue to see an upwards trend with price rises of around 2%. Its reasons for the big change are the strength of the labour market, the shortage of supply, the sharp rise in rental prices and a recent interest rate cut
by the European Central Bank (ECB).
Bankinter estimates a shortage of more than 50,000 properties per year, compared to an annual demand of 150,000 homes.
The deficit is concentrated in the main cities such as Madrid,
Barcelona, Valencia and Bilbao, as well as the Mediterranean coast.
The Canary Islands and the Balearic Islands also have a serious shortage of properties.
Added to this is the rise in rental costs due to a lack of rental housing which has fallen by 15% in the last 12 months.
According to figures from property portal idealista, this
is a result of legal uncertainty, the poor Housing Law and the increase in other alternatives such as tourist rentals.
House prices could be further increased by interest rate cuts which will reduce the 12-month Euribor rate.
Bankinter estimates that the 12-month Euribor will end in 2024 at 3.25%, falling again in 2025 to 2.75%, which will translate into a moderate fall in mortgage repayments.
Regarding sales, the bank forecasts a drop of 5% in 2024, compared to the previous estimate of 7%.
THERMAL: Power plant in Palencia has been described as a ‘cathedral of energy.’
GALICIA: Palace in Pontevedra comes with its own inner-city park, while (below) this 14th century farm has vineyards. See How green is my valley, page 18
Mark Stucklin
www.spanishpropertyinsight.com
THE pandemic changed many aspects of life, but who would have guessed that it would boost foreign demand for residential property in Spain?
The foreign appetite for homes in Spain continues undiminished in 2024, with close to record levels of sales in the first quarter of the year.
Both the Land Registrars’ association and the Spanish Housing Ministry have just published data for home sales involving a foreign buyer in the first quarter, and both sources confirm that foreign buyers have found a renewed appetite
GOING VIRAL
for homes in Spain. Sales inscribed in the Land Registry reveal that 21,525 home sales involved a foreign buyer, down 7% compared to last year, but the third best Q1 on record (just a fraction behind 2022) and 32% higher than the same period in 2019 - the last normal year before the pandemic struck.
The Registrar’s data is backward looking because it can take several months for sales to be inscribed in the Registry, so it reflects sales that took place, to a large extent, in Q4 of 2022. The Housing Ministry figures are more timely as they are ba-
sed on sales witnessed by Spanish notaries in the first quarter of the year, and they show 29,698 sales in Q1 involving a foreign buyer, down just 2% on the previous year, 26% above 2019, and also the third-best Q1 on record.
The Registry data breaks down sales by nationality, and both sources break down sales by region, though Registry figures go into more local detail. Unfortunately, neither of them break down sales by nationality and region on a quarterly basis.
Spanish property market gets virus booster
The Registrars’ numbers show that the British were, as always, the biggest foreign buyers of property in Spain, with 1,965 acquisitions (-11% year-on year), followed, as usual, by the Germans on 1,457 (-16%) and the French on 1,279 (-24%).
Though all the three biggest markets declined compared to last year, the British declined the least, suggesting that Brexit is not an obviously differential factor. The Irish increased the most (+11%), followed by Ukra-
inians (+8%) no doubt motivated by the Russian invasion of their country. Russian demand declined by 20%.
By region the Valencia Community was the most popular destination amongst foreign buyers, with 34% of the market, followed by Andalucia (18%) and Catalunya (17.5%). In terms of annualised change, Murcia performed the best (+6%), followed by the Valencian region (-2%) and Catalunya (-5%). Sales in Andalucia were down 17%.
Both data sources confirm that the post-pandemic boom in foreign demand for property in Spain is not a flash in the pan. Three years after covid struck the number of foreign buyers is still 37% above the five year average before the pandemic, and 85% above the 10-year average. Foreign demand for property in Spain was declining before the pandemic, but a virus that probably leaked from a lab on the other side of the world seems to have lifted it to a whole new level.
Home sales boost
PROPERTY sales in Spain rose by 1.8% in the first quarter of 2024.
It is the first year-on-year quarterly sales increase after five consecutive falls.
Sales of new and second-hand properties totalled 160,884 between January and March, according to the Ministry of Housing. The increase comes after home sales fell by 11% in 2023 due mainly to interest rate increases. Despite that, there were 638,522 sales last year, the third highest in 16 years.
Second-hand homes totalled 142,521 sales (up 2.5%) while new homes totalled 13,575.
Tourist central
A QUARTER of all tourist rentals in Spain are in Andalucia. According to official statistics, 23% of 351,389 rentals in Spain are here.
Of the 82,454 in Andalucia, half of them (41,038) are in Malaga, with 14,500 in Cadiz and 7,477 in Sevilla.
The country has seen an astronomical rise in tourist rentals, jumping by 17% in the last year. Alicante (38,007) and the Balearic Islands (25,073) come just after Malaga.
Malaga city has 7,038 holiday rentals, some 4% more than normal housing in the city. Marbella has 6,994 and Mijas 4,229.
FOREIGN DEMAND: With Valencia recording record figures
29thDecember 12th 2023
Enchanted
HOTEL rooms don’t get any more styl ish.
And fittingly Taylor Swift wasn’t scrimp ing and saving during her recent trip to play in Madrid.
The American star behind hits, including Enchanted and Cruel Summer, splashed out €25,000 a night for the suite at the chic Rosewood Villa Magna hotel. She chose the Royal Anglada House suite on the top floor, which counts on two rooms, two bathrooms, a kitchen and a dining room.
The 400 metre square spot, that
CASHING IN
THE British president of a Costa del Sol community is now earning more than the prime minister of Spain after bumping up his own salary, it has been claimed.
Stephen Hills, who runs the Torre Bermeja community in Estepona, hit the headlines earlier this year after it emerged he was earning just over €86,000 per year.
That was almost as high as the actual President of Andalucia Juanma Moreno (€87,333), and higher than the vice president
Expatcommunitypresident who earns more than Prime
Minister Pedro Sanchez
Yolanda Diaz (€84,600).
But now, Hills is making around €102,500, far more than PM Pedro Sanchez (€90.010), after approving a salary increase of €16,500 in his community’s 2024 budget, reports Area Costa del Sol.
It comes as a group of Spaniards and fellow Brits are taking Hills to court, hoping to prove
SPANISH IMPRINT
BRITISH architect Norman Foster has brought a touch of Spain to this year's London Festival of Architecture.
The influence of his frequent design partner Cristina Iglesias is easily seen in the Radial Pavilion in the City.
Designed by Foster + Partners’ it highlights Foster's long-standing connections to Spain.
He lives in Madrid and has a Spanish wife - and has not only been influenced by Spain, but has also had a huge impact on the Spanish architectural scene.
The design of Radial reflects Foster's interest in sustainable architecture and his experiences working in Spain.
The pavilion's frame is constructed from recycled scaffolding, echoing Foster's philosophy of minimising waste and extending a building’s life cycle.
The design prioritises creating a gathering space for discussions and reflection.
This aligns with an emphasis on public spaces and community engagement often found in Spanish architecture, particularly in Foster's Spanish projects.
his actions are ‘totally illegal’. However some locally-based Brits previously defended Hills, saying he is ‘doing his best’ to defend his Torre Bermeja community.
overlooks historic Paseo de la Castellana was just five minutes from her two sold out shows in the Estadio Santiago Bernabeu. It is not known where she put up the rest of her 100-strong entourage, including security, medical staff and the drivers of her own ambulance.
The luxury suite comes with a steward and e-scooter to ‘explore Madrid.’
Visit www.theolivepress.es to see full review of the five-star Rosewood Villa Magna
One, who asked not to be named, previously told the Olive Press: “There is another president there who is trying to control the whole Guadalmansa development, and wants to get rid of any people who stand up to him, such as Stephen.
“The budget for the other president’s urbanisation is 50% higher than that of Stephen’s, so what are they spending their money on?
“Stephen works a full-time job looking after his residents, some guy tried to take over from him but didn’t last for three months.
Stephen has been president for 20 years with basically no one standing against him, people understand how he defends the urbanisation.”
Another source told the Olive Press: “This is all part of a feud that has been going on for five to seven years, people don’t know the half of it!”
But David Valadez, the lawyer representing the residents who are taking action against Hill, insisted his actions were ‘illegal’.
He told the Olive Press earlier this year: “People are outraged, his actions are totally illegal
Celeb next door
A FINCA next to the stunning estate of Michael Douglas and Catherine Zeta-Jones’ has gone up for sale.
The Can Calo property has been listed for an eye watering €13.75 million.
and against the rules.
“I am convinced that he will face a judge, however the courts in Estepona are very saturated right now so we are not sure when to expect a trial.”
The Torre Bermeja urbanisation contains 109 apartments, and is one of five urbanisations that form the Guadalmansa development in Estepona.
Each urbanisation has a president, who looks after the dayto-day running of the blocks, such as collecting community fees or arranging gardeners and maintenance.
They have regular meetings with other presidents, where they can propose laws or changes which are voted on by the residents they look after.
But the majority of homeowners in the 109 homes Hills looks after are not there all year round, and have given him the right to vote on matters on their behalf.
Hence when he decided to give himself a salary increase, there was no one to stand in his way, it is alleged.
Valadez added: “So many have
Both properties once formed part of a bigger finca owned by the Archduke Ludwig Salvator of Austria in the 1880s.
The villa is described as a ‘spacious oasis of peace and tranquility, with impressive views to the majestic and idyllic coast.’
It comes complete with a library, study, sitting rooms and music areas, all with expansive sea views.
The main house has six bedrooms, each with its very own ensuite. There is also a separate guest house with two bedrooms, an independent kitchen and dining room.
The garden complex is perfectly manicured, with a pool and other leisure activities.
Wall Street star Douglas bought the neighbouring s’Estaca property in 1990 for €3.5 million.
He has tried to sell it on various occasions, in 2014 and 2019 but never found a buyer.
Ultimately, he took it off the market and now he and British actress Zeta-Jones spend long periods at the house.
A historic property, the Archduke Ludwig was one of the island’s first conservationists and owned land all the way from Valldemossa to Deia.
He restored various fincas in Miramar and Son Marroig along the way.
given him their deferred votes and I don’t think they know what they have been used for.”
According to Valadez, the bylaws that dictate the runnings of Guadalmansa say a president ‘cannot earn money’ for the role.
Valadez said Hills created an office called ‘Administración Gerente de la Urbanización’, or Administrative Management of the Urbanisation, without the knowledge of other presidents.
He then used this office to pay himself tens of thousands of euros, it is alleged, by creating jobs that do not exist, such as an administrator, who receives more than €17,000 per year, and two other employees earning €45,000.
“It is intended to mask the attribution of a very high salary to the president,” added Valadez. The Olive Press has contacted Hills and Valadez for further comment.
Need a helping hand when you go on holiday, someone to cherish your pets in their own home? Join us, and control pet care costs. Find free checked pet and house sitters through HouseSit Match, the friendly online house and petsitting network For affordable travel, home and pet care.
TAYLOR-MADE: The €25,000 a night suite for Taylor Swift
FRONT PAGE: How we first reported on Stephen Hills’ salary
THow green is my valley
HE green valleys, mountains and rugged coastline of Galicia are renowned for their tranquil beauty.
The region is becoming more and more popular as people start to turn away from the busy and scorching costas of southern Spain and search for a cooler, less frenetic alternative.
Galicia is steeped in history and a host of ancient buildings are for sale.
By Dilip Kuner
Indeed, your money goes a long way when it comes to purchasing a piece of history, especially compared to the coastal hotspots. Here we pick five special properties, some ready to move into, others needing a little TLC.
ANCIENT MANOR HOUSE, Cardeixa, Pontevedra
€230,000
FOR those looking for a project, this 16th century Pazo (traditional Galician manor house) could be right up your street.
It needs a complete renovation, although the walls are structurally sound.
Its remarkable features include an enormous granite lareira (traditional fireplace) that covers a significant part of the property, and the balcony is supported by three granite columns.
It also boasts a unique rectangular dovecote. Some stone elements, such as doors, appear to be from a much earlier period, possibly from the 12th century.
ENTIRE VILLAGE
Puebla del Brollon Lugo
€1,510,000
WHY buy a house when you could own the whole village?
It has 15 buildings, including a bar-restaurant on 40 hectares and is operating as a holiday accommodation business, with all the cottages restored and fully
Stretch your cash by buying a little Galician history
fitted. In spite of being at a high altitude (nearly 1,100 metres), the climate is good due to the fact that it faces south and to the north it is protected by a large mountain, which gives it a mild microclimate.
VINES AND HISTORY, Monforte, Lugo
€1,100,000
This ancient Pazo actually offers history you can taste!
The estate boasts a rich history dating back to 1376. Once home to nobles and dukes, the Pazo is surrounded by a protective stone wall and encompasses 22 hectares of land, including a productive vineyard and fruit orchards which have been producing wine and fruits for many generations. The 900-square-metre main residence, currently undergoing restoration, features 10 bedrooms, 2 bathrooms, and a fully restored chapel. In fact, all you need to recreate Medieval life!
Located just 10 kilometres from Monforte, 27 kilometers from Ourense, and 85 kilometers from Lugo, the Pazo offers stunning views and easy access to the Jacobean Route of the Camino de Santiago.
LUXURY APARTMENT, MARINA PUENTE ROMANO Ref: OP14482
Built: 144 m² | Terraces: 41 m² | Beds: 3 | Price: € 4,200,000
BEACHSIDE PENTHOUSE, BAHÍA DE ALCÁNTARA Ref: OP14658
Built: 114 m² | Terrace:s 146 m² | Beds: 3 | Price: € 2,070,000
CORNER DUPLEX PENTHOUSE, ALOHA Ref: OP15010 Built: 140 m² including terraces | Beds: 3 | Price: € 795,000
RENOVATED APARTMENT, PUENTE ROMANO Ref: OP14904
FIRST-FLOOR APARTMENT, MONTE PARAÍSO Ref: OP14619
Built: 168 m² | Terraces: 41 m² | Beds: 3 | Price: € 1,675,000
ELEGANT & SPACIOUS APARTMENT, LAS BRISAS Ref: OP14351 Built: 180 m² | Terraces: 20 m² | Beds: 2 | Price: € 775,000
DEFENSIVE POSITION
Near Ourense
€580,000
IF you are worried about burglars, then how about buying a 16th century fortified farmhouse?
This grand Pazo boasts its own defensive tower complete with battlements, from which you can rain arrows down on any potential home invaders just as in days gone by… although the police may not be too sympathetic. It has three bedrooms, two living rooms, a bathroom, and a kitchen ready to move into, with spacious areas on the ground floor available for conversion, and it sits on 5,800 sqm of grounds.
All properties available at, and pictures courtesy of, https://www. grupocountryhomes.com/
29thDecember 12th 2023
Cooking up a storm
PAIN’S foodie culture thrives on outdoor living. Long, sunny days and warm evenings naturally lend themselves to socialising and dining alfresco.
It is an alluring thought for expats too. After all, who doesn’t appreciate a barbecue?
But these days firing up the barbie just isn’t enough for many people, with more and more people transforming their garden dining options with a stunning outdoor kitchen.
They are no longer a complete luxury and are increasingly seen as an extension of the living space, transforming terraces and patios into vibrant entertain-
By Dilip Kuner
ment hubs.
The beauty of these alfresco kitchens lies in their versatility. Whether you have a spacious patio or a cosy balcony, there's a design to suit your needs and budget.
For example, Modular kitchens offer a flexible and budget-friendly solution. They come in prefabricated units that can be easily arranged and reconfigured.
Built-in kitchens provide a more permanent and luxurious feel, allowing for complete customisation with features like built-in grills, sinks, and storage.
It is of course essential to choose the right materials. The Spanish weather may be glorious, but it does still rain. Opt for stainless steel for its durability and sleek look. Granite and natural stone countertops add a touch of elegance and can withstand the elements. Wood adds
warmth, but choose a weather-treated option for longevity.
Spain's sunshine is a blessing, but you’ll also need protection from the heat. Consider awnings, pergolas, or even retractable roofs to create shade. Outdoor kitchens exposed to the elements might benefit from a permanent roof or enclosure.
Built-in grills are a must-have, allowing you to barbeque with ease. Think beyond the grill and consider adding a sink, refrigerator, or even a pizza oven for an ultimate outdoor cooking experience. When designing your outdoor kitchen, incorporate elements that reflect the Spanish spirit. Terracotta tiles, colourful mosaics, and locally sourced furniture add a touch of authenticity.
Sustainability is also a key consideration. Opt for energy-efficient appliances and consider incorporating water-saving features.
An outdoor kitchen is an investment that extends your living space and enhances your enjoyment of the outdoors. With careful planning and a touch of Spanish flair, you can create a haven for unforgettable gatherings and culinary adventures in the great outdoors, without leaving your home!
If it’s too hot in the kitchen, move outdoors
Live in The Real Spain...Traditional properties for sale
Jimena de la Frontera – Townhouse 275,000€
Three bedroomed traditional townhouse in the pretty whitewashed hill village of Jimena de la Frontera.
Jimena de la Frontera – Large Premises Massive Potential! – 175,000€
Large premises in the heart of the village near the Plaza, formally ground floor shop and apartment above with a huge terrace. Can be sold separately.
GRAND: Outdoor kitchens fit to feed the stars under the stars
MALAGA has launched a new crackdown on tourist flats following repeated outcry from locals. A new regulation means Airbnbs rentals will be required to have a separate entrance for tourists to come and go.
The rule will not apply to the some 8,000 pre-existing tourist apartments in the city, but only to those that have been registered after the approval of the housing decree in February. Since then, 800 applications have been submitted to the town hall, highlighting the shocking scale of
AIRBNB CRACKDOWN
the housing crisis as the long-term rental market withers.
It is hoped the tough requirement to demonstrate independent access will go some way to reversing this trend.
The rule has actually been in place since a 2011 urban development plan but it is only now that the town hall has decided to get serious about enforcing it.
GOLDEN TIMES
The perfect option to avoid the 90 day residency rule, but you may have to hurry before Golden Visa scheme ends, writes Tancrede De Pola
FOR UK citizens, making a move to Spain is not as straightforward as it once was.
For many people looking to ‘semi-retire’ in this country new restrictions have applied since the Brexit transition period ended.
With
Landlords earn more than DOUBLE their tenants thanks torisingrents,figuresreveal
New class divide in Spain
By Yzabelle Bostyn
This has created a ‘marked income inequality’ between owners and tenants, according to research by the Critical Urban Study Group (Grupo de Estu-
SUMMER SURGE
SUMMER has seen rental prices soar to up to €3,000 per week in Malaga province. Renting an apartment facing the beach during August will be almost 10% more expensive than this time last year, latest figures reveal. Now, prices are €1,160 on average per week, according to data published by Grupo Tecnitasa. Additionally, the ‘2024 Coastal Report’ showed that renting with ‘good sea views’
dios Criticos Urbanos).
The study discovered that landlords earn between €50,604 to €56,473 while tenants take home between €19,758 and €26,288.
Landlords are mostly found in the highest income groups, with
is 40% more expensive than it was during the pandemic (2020). During this period, the average price was €826 a week. In Malaga the most expensive properties are in Marbella, at almost €3,000 per week for a 100sqm apartment in the Puerto Banus area.
around 75% in the two highest income brackets. Conversely, 70% of tenants are in the bottom two income brackets.
It means, on average, the highest earning landlords have an income of approximately 2.4 times more than tenants, a ‘ratio of inequality’ according to researchers.
This charming town house is located in a peaceful urbanisation nestled in the beautiful area of Nueva Andalucia, Marbella, Malaga. With its prime location, this property offers stunning views of the surrounding mountains and the nearby Turtle Lake, providing a serene and tranquil atmosphere for its residents. This town house offers ample space for a comfortable and luxurious lifestyle. Equipped with all the modern amenities, this town house offers air conditioning and central heating.
This modern luxury apartment is located in the prestigious area of Marbella, Puerto Banus, in the beautiful city of Marbella, Malaga. With its prime location, this apartment offers breathtaking views of the marina and the sea.
Upon entering the apartment, you will be greeted by a stylish and contemporary living room, perfect for relaxation and entertaining guests.
The apartment is fully furnished and boasts a fully fitted open plan kitchen, equipped with all the necessary appliances.
The most applicable for those who are planning to spend several months a year in a second home in Spain is the 90 day ruling.
This means that UK (or any other non-EU) citizens cannot stay in Spain for more than 90 days in any 180 day period. This ruling applies to any Schengen area country – so any time you spend in for example France or Germany is counted towards your 90 days here in Spain.
To avoid this regulation many people turned to the so-called Golden Visa.
But anyone considering this route will be well advised to not put it off too long.
The Spanish government announced in April its intention to scrap the scheme, which was passed by the Council of Ministers, although a firm timetable has not been put in place.
The scheme provides residency visas to nonEU nationals buying property in Spain, or making other investments..
A €500,000 property investment qualifies the client for a visa, offering travel and edu-
cational opportunities for their family too. This is the cash element required, but it is important to note that this doesn’t preclude our clients from using a mortgage to fund the amount of the purchase price and costs over this limit. At the Finance Bureau, we have been working with clients from the Middle East, Asia and the USA for several years.
In partnership with our banks we have been developing specifically tailored mortgage products for these clients in order to give best loans-to-value and competitive rates. In fact, the visa is not only available for property transactions. Other ways to qualify include depositing substantial sums in Spanish bank accounts and making other investments. We can help UK residents explore their options to qualify for the visa, so please get in touch and we can help you make the best decision.
KSSIR-25839P
Charming east facing penthouse situated in the Golf Valley, Nueva Andalucía, within walking distance to Puerto Banus, and 10 mins drive to Marbella. The property is distributed into entrance hall, living -dining room and kitchen in an open-plan area, three bedrooms and two shared bathrooms. The complex enjoys 24 hours security, video surveillance, 2 communal swimming pools, paddel courses, lovely landscaped gardens and restaurant. It is provided with parking space and 2 storages.
This luxurious apartment offers the best panoramic views in the area of Marbella . With breathtaking views of the Mediterranean sea, beautiful mountains,a peaceful golf course with its lake, even on the clear days, you can see the coast of Africa, and Gibraltar, this property is truly a sight to behold.
Renovated to perfection, this apartment provides a sense of spaciousness and an airy ambiance that is second to none. The abundance of natural light creates a serene and tranquil atmosphere,
A NEW class divide has emerged in Spain, with landlords earning DOUBLE their tenants thanks to rising rents.
soaring house prices, surging demand and rents on the rise, the housing market is under extreme pressure.
November 29thDecember 12th 2023
in her fairytale Princess
Expat undertakes her childhood dream to build a wooden refuge, now a mustvisit retreat featured on British TV
By Yzabelle Bostyn
WHEN Elizabeth Wynn was a little girl, she imagined ‘living in a magical land, in a wooden house, surrounded by nature, being creative, dreaming and painting.’
But it wasn’t until she ‘lost everything’ 10 years ago, finding herself homeless, that she was finally able to make her dream a reality.
Finally finding herself a job, she scraped enough money together to start building her own ‘refuge’.
Along the way she learned ‘determination’ and ‘healing’ as well as how to sand, saw, nail and drill.
She sought out second hand materials
grafted often 14 hour days in the Spanish sun to craft her casa.
“Through building the house, I built myself again,” she told the Olive Press. “I am the princess in my own fairytale.”
including wood and an old van chassis and Now, she lives in a nearby farmhouse and is offering her original Little Wooden House, as a refuge to others. Nestled among olive trees on an organic fruit and nut farm, it could be mistaken for a Mediterranean gingerbread house.
Part of Eden Whispers Art Farm, the house is just outside Monda, inland from Marbella.
A peaceful, tranquil getaway, the project was recently featured on George Clarke’s Amazing Spaces on Channel 4, in England.
rage living room.
“There’s been an enormous amount of love and passion put into this project. This is small space perfection.
The Little Wooden House has inspired its visitors, some saying ‘it brought their creativity back’
During a 2019 episode, Clarke marvelled at the 5 x 2.5 metre space, half the size of the ave -
“It’s self-built, full of bespoke innovations and a total life changer for the person who made it.”
The Little Wooden House has similarly inspired its visitors, some saying ‘it brought their creativity back’ and they ‘felt so snug cocooned in the bed at night surrounded by myriad fruit trees and the night air.’
“I am so happy it has become a place of peace and restoration,” said Elizabeth.
“It gives people space and time to reconnect with themselves and nature and remind them of just how wonderful they are.”
SMALL BUT BEAUTIFUL: The tiny house has been featured on George Clarkes’s (pictured with Elizabeth) Amazing Spaces
HIDDEN: Nestled in the Monda countryside, the Little Wooden House is a true escape
REGULATE FOR TRUST
THE profession ‘Real Estate Agent’ is an unregulated profession in Spain since the year 2000. Before that an agent had to have an API or GIPE license to be able to work legally in the sector. The government’s idea at that time was to get a more ‘dynamic’ marketplace where the ball was passed to each of the 17 autonomous regions of Spain, so that they could legislate in accordance with their specific needs.
I guess it was a good intention as it is not the same to sell properties in Madrid as on the Costa del Sol or the Canary Islands, for example.
However it took until 2010 (!) until the first region, Catalunya, actually put in a proper legislation to regulate the profession, with enforcement of licenses and liability insurance.
The region of Valencia was next to follow in 2022, and in 2024 the Balearic Islands also followed suit. Andalucia, Madrid and Navarra are also very advanced in the plans of introducing similar laws.
What does this mean for real estate agents on the Costa del Sol? And how can they prepare for the imminent change in legislation?
So, first of all what does the current legislation entail and is it expected to be similar in Andalucia?
The future of the real estate profession in
Spain! New guarantees for clients! writes Christofer Fogelberg
Catalunya and Valencia have very similar legislations and the key features are listed below. In or der to be able to register as an estate agent in the obligatory re gister the applicant has to:
● Complete a 200 hour course with set subjects, such as con sumer law, contracts, proper ty law, urban planning etc.
● Contract a professional liability insurance that co vers the business practices and any money held for clients, such as deposits.
● In Valencia the agency needs to have a physical location that is open to the within
So how to prepare? It is ob viously impossible to know exactly what the Andalucian law will involve, however we
assume it will be very similar to the Catalan law, which has been very successful for 14 years.
In my company we did the certification courses for Catalunya in 2020 in order to be prepared, so we are already certified by API-ANAI which is the largest professional association in Spain with over 6,000 registered agents.
We are also very active on the board of directors in the GIPE Real Estate Guild based in Malaga.
GIPE (Gestores Inmobiliarios Profesionales Europeos - Profesional European Real Estate Brokers) was founded in 1985 and is one of the oldest real estate guilds in Spain. In 2023 we converted it to the first bi-lingual (Spa-
nish/English) professional association in Spain, and we now offer the certification courses in both languages. Other benefits for members are the low cost of liability insurance, co-working office in the centre of Malaga, training courses, networking events and legal services.
In GIPE we are working to prepare real estate agents in Andalucia for the imminent change and to enhance the professionalism in the sector.
I am positive the obli gatory register will come to Andalucia shortly and, by looking at the results it has had in Catalunya over the last decade it is something to look forward to. Both for estate agents and clients.
A regulated market means more guarantees for clients, workers and real estate companies.
As vice-president of GIPE I also get a bit of insight on the European level as we are members of the European Federation and there is some exciting news here as well.
We are introducing a new Quality Seal that will be shown in all of the European
Union - so a professional real estate agent in Spain, Sweden, Germany, France etc will all show the same Quality symbol in their offices and have to comply with set quality procedures and courses. I think this is very exciting news for estate agents on the Costa del Sol that work with international clients.
GIPE will be in charge of distribution of the European Quality Seals (MMCEPI) for Spain.
So, fellow estate agents on the Costa del Sol - prepare! And if you want help please feel free to reach out to info@gipe.es and the association is happy to help you become a true professional prepared for the future.
Future looks bright
The Agency Marbella has unveiled its 2024 Market Report, highlighting the allure of the city for American investors and tourists.
The report paints a picture of a thriving Marbella fueled by increased American interest and a commitment to sustainable development.
According to the report, Marbella remains a top European destination, offering sunshine, beaches, cultural experiences, delicious food, and luxurious living. Notably, data shows a significant surge in American tourism to Spain, with Malaga becoming a favorite among American travelers due to direct flights. Cultural similarities are seen as another factor contributing to this rise in American interest.
The report also dives into Marbella's ongoing urban transfor-
mation.
The city is revamping its urban plan, aiming for approval by 2027. This plan focuses on creating more developable land while prioritizing sustainability.
The Agency's report details how different areas of Marbella will be impacted by this new strategy. For instance, the Golden Mile can expect intensified luxury developments catering to digital nomads and professionals. San Pedro Alcantara will see urban regeneration with a focus on green spaces and fostering a strong community.
Nueva Andalucía is slated for environmental improvements and community hubs, while Marbella East and Las Chapas will experience a revitalisation of tourist areas with new hotels and housing options.
Overall, the new city model out-
lined in the report emphasises creating a ‘green Marbella’ with expanded green spaces and pedestrian paths. It also focuses on an ‘orderly model’ by redeveloping urban spaces and optimising land use. Encouraging a mix of housing options and businesses is another key objective, promoting a ‘diverse city’. Finally, the plan aims to achieve an efficient and ‘connected’ city with improved resource management.
To read the full report visit www. belleside.com
Golden ticket!
SPANISH prime minister Pedro Sanchez recently announced his intention to cancel the Golden Visa scheme.
The Socialist PSOE leader said the move would stop speculation of the property market.
The programme grants any foreigner residency if they buy a home worth €500,000 or more.
The law was approved in 2012 in the middle of a recession following the real estate crash in 2010.
Its main aim was to reactivate the Spanish property market and attract foreign investors to buy all the real estate portfolio left with the banks, especially in those days when prices were extremely low and economies were suffering across the EU.
During its first years, the main applicants for the Golden Visa were from the Middle East, Russia and China.
But since Brexit came into full effect in 2020, there has been an increase in British applicants, who see it as the easiest route to moving to Spain permanently.
There are also more advantages when compared to other types of visas.
At the moment, the Government is drafting a new act to abolish the Golden Visa, but until that is passed, there is still time to apply.
So if you are thinking of buying a property in Spain worth €500,000, you can still apply for a Golden Visa, just do it now!
To apply you will need to comply with the following:
● Have an Investors’ Residency Visa that is in date and not expired
● Have travelled to Spain at least once during the visa’s approved period
There is still time to gain residency in Spain via the Golden Visa scheme, but you’ll need to act fast
● Prove that the €500,000 investment is still in place
● Be over the age of 18 and without a criminal record
● Have medical insurance and sufficient money or financial means to support the applicant (and family) during the period of stay in Spain
The Residency Visa will be applied for and granted by the Spanish Consulate of where the applicant is buying.
A Residency Authorisation will need to be applied for and is granted by the Directorate General of Migrations.
The application for a Residency Visa will be resolved in a maximum period of 10 days, except where the application is subject to the EU Visa Code.
The Residency Authorisation will be granted in a maximum period of 20 days from application after which period. If the Consulate has not responded, the application will be presumed granted.
For any questions or doubts about the process, do not hesitate to contact Fairway Lawyers in Marbella.
C/Nuestra Señora de Gracia 28, 1C 29602, Marbella (Malaga) Contact Diego at Fairway Lawyers diego@fairwaylawyers.com Tel: 952 77 11 50 WhatsApp: 606 307 885 From Marbella to Mollina and Mijas to Manilva Covering the Costa del Sol and inland for 20 years CONVEYANCING OFF PLAN PROBLEMS FLOOR CLAUSE ISSUES FRAUD AND TAX LITIGATION INHERITANCE
www.fairwaylawyers.com
Set to explode
STRING of huge names in international real estate have either opened or are set to open offices in Marbella over the coming months.
These agencies include the likes of Savills (40,000 staff), The Agency (115 offices in 12 countries), and Colliers International (19,230 staff) as well as some very large international brands with staff counts to match, currently scoping the market for new offices and a presence in Marbella.
There are also associates, including Sotheby’s (1,713 employees) and Christie’s (1,350 offices in 48 countries), and some Scandinavian agents spending heavily on marketing and new offices. Once again, the Golden Mile of Marbella looks set for some classic power struggles between brands.
For those of us who were here during the effervescent boom of the early 2000’s and survived the financial crisis of 2007-8 this all feels very familiar.
The big question, the large elephant in the room – is whether this is a sign of a mature and established market or late entry to one hell of a party.
What is for sure is that they will enter one of the toughest, unregulated real estate markets in Europe.
There will be casualties. It’s simply impossible, with this many mouths to feed and with such little stock on the market, that everyone can make a living.
Big names in real estate moving into Marbella
Competition is already fierce, but if the market continues on its current trajectory with increasing competition and decreasing stock it can only be come fiercer.
In many ways, this is good news for Marbe lla and recognition of its status as a real estate brand in Spain. However, to go back to where I began, the question is whether Marbella – and the Golden Mile – can sustain this many mouths to feed.
The other interesting fact is that most of these pla
150,000.
That means that in Madrid, there is one real es tate agent per 1,315 people, whereas in Marbe lla, out of every 174 people you meet, one will be an estate agent.
ll impact from the clients’ point of view will be positive. It will increase the professionalisation of the local industry, which is a good thing. There’s a final factor worth mentioning here: brand names don’t just come in and scoop up existing clientele.
They bring their own network of pre-existing, high-net-worth clientele with them. That will expand the market and create more demand for new construction of luxury properties, especially with the overhaul of planning regulations that will open up new development opportunities. All of that will create more jobs.
We are The Agency for Owners.
Their arrival is also likely a result of the magnet effect, by which I mean that Americans are already moving to Spain in growing numbers, and Andalucia is a popular destination. The agencies are following their clients.
Taking another sample statistic, the National Statistics Institute (INE) counted 34,251 sales in Malaga province for the January 2023 /December 2023 year whilst according to idealista.
Because these new agencies focus almost ex clusively on luxury and super-lux properties, regular buyers and sellers might not even notice their effect on the market directly. But the overa-
Insider by Adam Neale
Living the fusion of nature and golf
A residential complex with an attractive contemporary design and spectacular golf views.
Etherna Homes offering a modern and functional lifestyle, as well as a connection with nature and the Mediterranean Sea in the background.
Next to Valle Romano Golf & Resort
Swimming pool and gym
Spacious terraces
Putting Green & Zen zone
November 29th -
HOLY POWER
AN innovative new thermal power plant with a distinctive ‘lantern-like’ shape has emerged from the plains of northern Spain. Located in Palencia, the 1,960-square-metre building takes the shape of a pill to provide heating to the town’s 80,000 inhabitants.
Described as a ‘Small cathedral of energy’ a stylish new thermal power plant is generating heat from local biomass
offers an extraordinary glimpse into the heart of the energy-generating process through a translucent ribbed
By Walter Finch
Welded from steel and plastic, it generates new methods of power while educating on renewable energy. It sits atop a huge ‘bathtub of heavy concrete’ which in turn conceals an underground silo which stores biomass from local forests and other renewable
Rock n Rolf are Fine Specialist Painters & Artists with three decades of experience in Andalucia and London.
Experts in hand-painting bespoke cabinetry from kitchen to bathrooms and transforming existing furniture with beautiful new finishes and colours. MANY REFERENCES.
Designed by architect studio FRPO, DH Palencia
facade.
SPECTACULAR: The biomass power plant is designed not just for clean energy but to also highlight its green credentials through an eye-catching design
PROPERTY
sources.
Lauding it as a ‘small cathedral of energy’, Pablo Oriol, the co-founder of FRPO wants it to ‘establish a significant connection with the community it serves.’
"Our intention has been to move away from previous references of an energy production plant,” Oriol explained.
"Since the network is invisible because it’s underground, the power plant building had to be responsible for transmitting the qualities of this new type of energy for the city.
"It is a milestone of the energy transition, whose activity is constant, and at night it is illuminated from the inside to become a clean energy lantern."
Part of the mission of the thermal plant is to symbolise transition from traditional heating technologies, such as natural gas, into cleaner energy.
So keen was FRPO to showcase the inner workings of cleaner heat generation that they even made the tower designed to expel the smoke from the heating system's filtering process translucent. Visitors are welcome to come and explore the energy process inside the power plant too. Its interior is also designed to make everything transparent.
It is a milestone of the energy transition, and at night it becomes a clean energy lantern
GREEN PLAN: The blueprints for the thermal station have taken shape in the form of the unusual building (top)
• 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.
• Professional valuation report based on confirmed sales prices for the last 15 years of similar properties in the immediate area.
• 21 years established = Client list of more than 15.000 potential buyers!
• Professional presentation: Quality photos, Virtual Tour and Floorplans
• Your property will be published: on our web page in 4 languages, videos on social media, ads on national and international property portals all over Europe as well as on major MLS platforms. No one gives better coverage!
• No sale - No fee! Call us for a free valuation!
Contact our property valuers Daniel Holmquist or David Hemmings to value your property!
CALAHONDA
TORREQUEBRADA LA CALA DE MIJAS