Property
S pr pa op in’ in er s b En ty es gl ma t ish g
APRIL 2022
€12.7m
www.theolivepress.es
The rules for rural home hunting, see our guide on page XII
Life in the shade THE enclave of Zagaleta has often been described as ‘southern Europe’s most exclusive place to live’. And when you count on the celebrities, captains of industry and, now, the global dictators who stalk its privileged spaces, that’s no surprise. The multi-million price tags certainly follow suit, as does its incredible golf course, which has just a few hundred people allowed to play… and then there’s its intriguing recent links to Russian dictator Vladamir Putin, who owns a property there. The giant 2000 sqm palace, known as the Rock of the King (or Roca del Rey) counts on its own private vineyard, helicopter pad and bowling alley. But it’s the three floors underground that has got eyebrows raised among Europe’s security and defence elite. As revealed by the Olive Press last month, it counts on armed guards and has a deep bunker monitoring the Straits of Gibraltar 24/7. And this in a
It’s one of Spain’s most expensive places to live. But few know what goes on behind the high tech fences of La Zagaleta, where Putin is said to own a giant palace. Olive Press Property takes a peek gated community that claims that security is ‘its number one priority’. Indeed, security is of so much importance that after a late-night incident last year, an Israeli company was commissioned to build a new ‘high tech electric’ fence. Expected to become the most expensive in Spain, it will run around the 900-hectare estate that sits in Benahavis, between Marbella and the foothills of the Serrania de Ronda. “The residents are being charged 5,000 euros each in two installments to help pay for it,” reveals a source. “They are not exactly happy about it.” It comes after Head of security Jose Miguel Navarro boasted last year that his team have a ‘maximum response time of three minutes to any alert’.
“Our perimeter shielding, detection systems and security routines will thwart most attempts to attack properties, which explains why the incident rate is 100 times lower than in other residential complexes,” he claimed. The estate was originally called ‘La Baraka’ and owned by disgraced billionaire Saudi arms dealer, Adnan Khashoggi, who was said to have held some of the world’s most debauched parties at the hunting lodge in the 1970s. Today it is the clubhouse of the resort, which was acquired by a group of investors in 1989 led by Andalucian banker, Enrique Perez Flores, who came from Huelva. The giant estate was then divided into approximately 420 plots, of which
around 240 homes have so far been built. “Most homes go for around 7 to 8 million euros,” explains one British agent, who has sold a number of properties there over the last year. “And some have even doubled in price over the last few years.” All surrounded by deep woodland, they have either sea or mountain views (or both), while there is also a private equestrian center and golf course, with a second one on the way. The amazing course, said to be one of the best in Spain, only counts on 250 members, which is because only homeowners can join. “The price for membership alone is 120,000 euros and then it’s 10,000 a year for the lead member and 7,000 for
the second member of the family,” adds the agent. “It’s real royal golf and the attitudes of the locals are to match,” he continued. “It’s ultra exclusive and so snobby, way more than the Chelsea or Cheshire set. “Owners put 10,000 euros behind the club bar so they can always get a drink or cigar when they want and the place is literally crawling with Aston Martins, and DB4s and McClarens.” Thesedays, the company behind Zagaleta is run by Ignacio Perez Diaz, after his father died two years ago. According to its last available accounts in 2019, its immediate holding company Zagaleta International UK Inc is based in Panama, while two other entities, Soto Properties SA and Campo Alto SA, are based in Switzerland.
See pages II and III to find out more on the properties available in Zagaleta
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PROPERTY
ANOTHER YEAR OF BATTLE?
H
AVING barely recovered in 2021, international demand for property in Spain faces another challenging year in
ANALYSIS: How the Ukraine war might affect property sales in Spain, writes Mark Stucklin
2022. Under the circumstances, foreign demand recovered reasonably well last me an average purchase price of year from a deep slump in 2020 that €150,000. was largely due to the pandemic. By the end of 2021 the foreign marThat said, the market is still smaller ket share had fallen to 10.8%, down than it was in 2019, and this year from 12.5% in 2019. But the truth the international market faces a new is that the decline started before the headwind in the fallout from the war pandemic, with sales falling 4% in in Ukraine. 2019 after nine years of uninterrupAs I pointed out in my last column for ted growth. the Olive Press Property Magazine in Then along came 2020 with the coFebruary, the market ronavirus pandemic. staged a remarkaCovid-19 was undersble recovery in 2021 tandably challenging as sales increased It’s remarkable for foreign buyers, an annualised 38% with international trathat there nationwide last year, vel being hit hard. and by almost 20% Many potential buyers were 50,000 compared to 2019. were unable to travel international But most of that to Spain in 2020, and growth was driven by travel restrictions have sales in 2020 strong local demand, lingered to this day. while foreign demand All things considered failed to recover all it’s remarkable that the ground it lost over the pandemic there were close to 50,000 internayear of 2020. tional sales in 2020, and 61,000 in Foreign demand is not an insignifi- 2021. cant segment of the Spanish proper- But although foreign buyers increaty market. In the last decade foreign sed by 29% last year they were still buyers have gone from a low of 6% down 3% compared to 2019. Local market share in 2011 to a high of demand, in contrast, was up 14% 13% in 2016. compared to 2019. That represents an investment of By nationality, the British were still €8 billion that year if you assu- the biggest group of foreign buyers
in 2021, but not as dominant as they used to be. Ten years ago the UK represented almost 20% of the foreign market for Spanish property, and was almost double the next biggest market every year for more than a decade. By 2021 the British market share fell to 11%, just ahead of Germany on 10%, and France on 8%. The UK is now just another big market vying for the top spot. The Germans even overtook British buyers in the third quarter of last year - the first time that has ever happened. Declining British demand is a big reason why the international market failed to make a bigger recovery last year. UK demand recovered a modest 8% in 2021 compared to the pandemic year, and remained 23% below 2019, while German demand recovered 58%, and 30% respectively. Brexit is undoubtedly a big part of the explanation for weak British demand, especially the 90/180 day rule. So all in all, 2022 looks like another challenging year for the international market. The ramifications of Brexit are still unfolding, the pandemic is still a fly
in the ointment, and now the awful war in Ukraine is making everyone nervous. One conveyancing lawyer reports the market has ground to a halt like the Russian advances as investors opt to wait and see, while other property professionals I have spoken to report business as usual. Ultimately, it’s too early to tell. Some muse that the conflict in eastern Europe will increase demand for homes in Spain, which is protected by the Pyrenees and about as far away as you can get in Europe from Russia (by that argument, Portugal is even better placed). But the conflict could also exacerbate the economic problems caused
by the pandemic, with high energy prices pushing up inflation and reducing purchasing power in many European countries. Will the conflict reduce the number of buyers from Russia and Ukraine, who numbered 2,000 in 2021 combined, and represented 3.4% of the foreign market, or will it increase their numbers as they flee the region? I expect more will want to move to Spain, but less will be able to do so. Check out more from Mark Stücklin at Spanish Property Insight for the latest news and analysis to help you navigate the Spanish property market as you buy or sell real estate in Spain.
Holmes Property Sales S.L. Tel: +34 956 79 53 40 email: info@holmesotogrande.com
www.holmesotogrande.com
SOTOGRANDE MARINA
REF: EMP-1878
HOYO 17, SAN ROQUE CLUB
REF: HSRHOY17-1879
Fabulous south facing totally renovated townhouse with communal pool Newly built townhouse with a great location in Hoyo 17, surrounded next to El Octogono Beach and Tennis Club and to the Real Club Marítimo. by a golf course and an ancient cork oak grove in San Roque Club. 4 Bed | 3 Bath | Build 321m2 | Terrace 85m2
4 Bed | 3 Bath | Build 372m2 | Terrace 66m2
945.000 euros
589.000 euros
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IN THE MONEY!
FIVE STAR BOON A HOTEL builder is planning a further 590 five-star bedrooms. Around 235 million euros are to be invested by the Millenium group in properties including two in the business district of Madrid. The group’s latest hotel, the Radisson Collection Hotel Gran Vía, has just opened in Bilbao with 137 rooms. The group has another hotel in Bilbao, plus others in Sevilla and Sotogrande.
Not breaking in the Top 10 CATALUNYA has the highest percentage of burglaries in Spain. Meanwhile, Spain had 142,780 break ins in 2019, the last available figures, making it 11th globally. Just 15% of these burglaries were solved and the total cost was 213 million euros, according to insurance company Budget Direct. The highest break-in rates in the world are in Peru, which had 2,806 burglaries per 100,000 inhabitants.
VALENCIA, Toledo and Granada are the most affordable provinces in Spain. According to property portal Idealista there are 89 towns in Valencia with homes offered for sale below €1,000 per square metre. The cheapest properties are in the village of Benifairo de la Valldigna, at just €430 per square metre. Toledo province in Castilla-La
Mancha had 65 towns and Granada 40 meanwhile. The town which has the cheapest property in Spain is that of Alcaudete de la Jara, in Toledo, where the average price was just €316 per square metre. It is followed by the nearby Cordoba towns of Fuente Obejuna, with €341 and Belmez with €370. In total, 815 towns across Spain have homes for sale below €1,000 per square metre. On the other end of the scale are the four provinces where not a single property can be found with a price tag below €1,000 per square metre. Not surprisingly, these are the Balearic islands, the provinces of Guipuzcoa and Vizcaya in the Basque Country and finally Las Palmas in the Canary Islands.
Peak of luxury Stunning rock star mansion acquired in the Pyrenees
A STUNNING mountain retreat where a famous Spanish singer sheltered for the last year of his life has sold for €2.2 million. The 912 sqm home of Pau Dones, who died in 2020, has been acquired by a middle aged couple, believed to be from northern Europe. The farmhouse, in the village of Betlan, in the Val de Aran region of the Pyrenees, is just 20kms from Spain’s top skiing resort Baqueira Beret. The six-bed, six-bath property has three wings and includes its own gym and recording studio for Pau’s band Jarabe de Palo. He bought it in 2000 and united three separate buildings, as well as building a treehouse for his daughter Sara. The wood and stone built farmhouse was the perfect retreat for Pau, when he died of advanced colon cancer at the age of 53. Sitting on the edge of the village it had a 6000 sqm garden, with breatht a k i n g views across the nearby peaks and valleys.
Live healthy in Valencia Pic credits: Engel & Volkers
PROPERTY investment in Spain is at record levels and more than double last year. Transactions in the first quarter are expected to hit €3.7 billion, a 136% increase on 2021. According to real estate consultancy firm JLL, residential rental property has become the main segment for investment. This year has also seen a strong return to investment in hotels, following uncertainty in the sector due to the pandemic.
BARGAIN BUYS
SNAPPED UP: Mystery buyer purchases former rocker’s house
It has a separate guest cottage with its own parking space. It has been described
Bullring up for sale THE Plaza de Toros de Fuengirola is looking for new owners. Turina Victoria, the company that owns the bullring, has set an asking price of €4.5 million for the historic building, which has a capacity of over 4,000. The premises were refurbished in 2012 preserving the facade and expanding the premises by 2,500 square metres. A statue of bullfighter Antonio Jose Galan, known as Feungirola’s favourite son, is one of the defining features of the grounds. The bullring, built in 1962, is being advertised on Spain’s property portal Idealista and includes the bullring, the car park, and all commercial premises. “Over the course of 60 years, the most outstanding figures of bullfighting have performed here including Antonio Ordoñez, El Cordobes, Paco Ojeda and Espartaco,” the listing on Idealista said. Bullfighting in the square normally takes place in the summer season and during the month of October as part of the Fair
as being ‘among the best properties’ in the entire Val de Aran region. “The family who bought it wanted a unique house in the valley but not too near the skiing slopes,” explained Xavi Cardona, of the agency that sold it, Engel & Volkers. “For reasons of discretion I cannot give you any more details.”
VALENCIA has been named the healthiest city in the world to live in, followed by Madrid. The study, conducted by money. co.uk, looked at a range of factors such as air pollution, obesity, and number of sunlight hours as well as healthcare quality and affordability. Valencia has been top of the list for the second year in a row, owing to its good weather and high life expectancy. Barcelona was also featured, coming in at 17 on the list. Despite this, Spain did not feature in the top 20 healthiest countries. Japan was deemed to be the healthiest country in the world, thanks to its incredibly low rates of obesity and healthy diet, followed by Switzerland. Surprisingly, Cuba was third on the list. Despite being a relatively poor country, it has a world renowned healthcare system. Neither the UK nor any of its cities were featured on the top 20 lists. The study was released in advance of World Health Day on April 7, a global health awareness day in partnership with the World Health Organization.
My Spanish saviour
of the Virgen del Rosario, patron saint of the city. Not limited to bullfights, the ring has hosted a wide variety of cultural events over the years including equestrian shows, dressage events, and carriage displays. A number of parties are thought to have already expressed interest in acquiring the bullring, with at least one interested in changing its use. However, under law, the building must be retained for predominantly cultural use.
SELLING a villa in Mallorca saved singing star Claire Sweeney during the pandemic. The former Brookside actress, who is currently starring in 9 to 5: The Musical, sold it for just under €1million in 2019, which helped her ‘sit it out comfortably’. It more than made up for her paltry earnings of just 6,000 euros during the whole of 2021 with almost no work. “Our industry was decimated. Thankfully I’d sold this big house in Spain so I was blessed that I could sit it out comfortably,” she told the Sunday Times. “It broke my heart to sell but it was in its own grounds and my little boy didn’t want that - he wanted to be with other kids.” She bought the house in 2004 for €690,000 and sold it for €950,000, but ended up ‘more or less’ even after all the taxes. “I wanted to do everything right and paid both Spanish and English taxes…I got back more or less what I’d put into it,” she continued.
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PUTIN ON THE GLITZ! €14.7m
Zagaleta is back in the news as it emerges that one of its luxury homes - one of Spain’s most expensive - is likely owned by President Putin. So what does it cost to buy there?
I
T is already known as the most exclusive place to live in southern Europe. With its round-the-clock security, low density houses and incredible location between Marbella and Ronda, La Zagaleta has price tags restrictive to all but the world’s wealthiest captains of industry, celebrities and, well, dictators. After the Olive Press revealed last issue that its most expensive home, el Roca del Rey, is linked to Russian dictator Vladimir Putin, we decided to see what else is on offer.
O
T
HIS newly mansion blends modern design with Italian style furnishing. The property rests on a large flat plot with lush landscaped gardens, an impressive infinity pool, and breath-taking panoramic views of the Mediterranean.
€10m
NE of La Zagaleta’s most iconic residences is now on sale. The recently completed, state-of-the-art mansion boasts pristine panoramic sea views in blissful privacy. Nestled atop the highest point of La Zagaleta, Casa Sohaeal is a feat of architectural design, showcasing luxury scale and unmatched sophistication.
Given that the triple-basement, double-guardpost ‘VP palace’, as it’s sometimes called, is estimated to have cost €40 million to buy, it’s amazing that you can buy something here for as little as €3 million. But don’t forget when your on-off neighbours include the likes of Hugh Grant and Cristiano Ronaldo, you’ll be paying a fair amount more per year for the services. Here are a few of the current properties on the market that can be viewed from estate agent Reas.es:
RO CI O DE NAG ÜEL ES , MA RBE L L A GOLD EN MILE 2.825.000€
Drumelia Real Estate
D2367
5
5
672
1. 28 1
REFERENCE
BEDROOMS
BATHROOMS
BUILD M2
PLOT M2
+34 952 766 950
www.drumelia.com
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APRIL 2022
€9.4m
€10.8m
THIS spectacular property is a work of art in itself representing the very best in contemporary architecture. This large-scale villa is the ultimate dream home for luxurious living by the ocean boasting not one but two swimming pools.
€6m
€9.4m
BUILT with the highest quality of finishes and exquisite attention to detail, this accommodation comprises, a hall, living room with long fireplace and access to the terrace and the pool in addition to a dining room, a lounge, open-plan fully equipped gourmet kitchen japanese style with breakfast bar, with direct access to the terraces and the garden area.
This classically elegant villa sits on a substantial plot of 9,800 square metres, with panoramic sea views and is flanked by the epic view of La Concha mountain, above Marbella.
The villa, of classic architectural style, has a double height entrance hall with beamed ceilings and classic French windows. The elegant bedrooms and classically tiled bathrooms all enjoy private terraces and the fantastic views complete with a snooker room, cinema room and gymnasium.
€6m
€4.75m
THIS newly built eco-friendly masterpiece is designed to blend into the natural surroundings with elegance and class. With its ultra-modern design, the property boasts is situated in a lap of nature, in the residential La Zagaleta Country and nearby golf club.
€14.7m
THIS imposing villa is situated on an extensive plot with a superb southern orientation offering breath-taking views to Northern Africa and Gibraltar. It is complete with a blue infinity pool that brings the surrounding greenery and glistening Mediterranean right up close.
€12.7m
This 6-bedroom villa with delightful gardens has unrivalled views of the mountains and is complete with a billiard room, wine cellar, spa and substantial basement space with a cinema and gym and a garage with space to park six cars.
This unique villa oriented to the south west enjoys magnificent views to the golf courses, mountains and the Mediterranean consisting of two parts joined together through a gallery and featuring an elegant patio entrance with an exquisite marble fountain in Alhambra style.
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Hunker down Civil war bunker offered for sale in downtown Madrid, writes Elena Goçmen Rueda
W
SAFE AS HOUSES: Bunker offers lots of space and great security
HAT once served as a bunker during the Spanish Civil War is now for sale as a modern property in one of Madrid’s most desirable areas. With a colourful modern design, three metre high vaulted ceiling and exposed brickwork, it is the very definition of urban chic. The property, costing €580,000, is located in ritzy Barrio de Salamanca, minutes from the famous Retiro park. It is also a fantastic size measuring 249 sq metres divided into several open areas connected by arches. The main entrance connects four halls and has a kitchen and four bathrooms. According to Idealista, its location underground makes it attractive as a space for events, a show-room or as an art gallery. Those interested in maximum security may also be tempted by a property that recently came on the market in Mallorca. Overlooking cliffs in Cap Blanc is an unusual property that incorporates a vast underground bunker. A former military base within the town limits of LLucmajor, the eight-hectares estate includes a building which once served as a barracks and has room for 12 bedrooms and a canteen. Boasting fabulous views it is listed with a price tag €3.8million and marketed by Ivory Homes.
GUADALMINA ALTA
€2,290,000
REF: WW1465
The full refurbishment of this 4 bedroom family villa in Guadalmina has recently been completed resulting in an elegant, contemporary and stylish home. Located in a front line golf position, this property is ideally situated for local schools, golf, proximity to the beach and all amenities. Exceptional attention to detail can be seen throughout, the present owner has used a neutral palette, resulting in a bright and stylish home set within a plot of almost 1,000m2.
EL PARAISO, ESTEPONA
€157,000
REF: WW1523
GUADALMINA ALTA
€450,000
REF: WW1509
A delightful duplex penthouse located in Guadalmina Alta with 3 double en suite bedrooms. The lower floor comprises a beautifully bright and spacious living/dining room, a large fully fitted kitchen, laundry room, guest WC and an en suite guest bedroom. The large terrace provides superb golf and coastal views. Upstairs there is an impressive master suite, a further en suite bedroom and two spacious terraces. Two parking spaces and two storerooms included.
SOTOGRANDE PORT
€495,000
REF: WW1593
Representing superb value for money, this fantastic, fully refurbished 1 bedroom apartment is located in Royal Marbella Suites, El Paraiso Alto. With views from the terrace of the communal gardens and pools, and situated only a short drive to bars, restaurants and Puerto Banus this apartment would be a wonderful investment or personal pied-a-terre. This gated community offers two swimming pools and the apartment is sold with a parking space and storeroom.
This outstanding duplex 4 bedroom, 3 bathroom corner apartment is located on Isla Carey in Sotogrande Port. Beautifully presented, it has lots to offer! Reached by a private bridge, Isla Carey is located in the centre of Sotogrande Marina. Surrounded by water, the views are ever-changing and always interesting.
EL PARAISO, ESTEPONA
MANILVA
€1,295,000
REF: WW1617
An outstanding opportunity to own a magnificent property in El Paraiso Alto that features a very private and mature garden, panoramic views of the golf and sea, and has been completely remodelled with materials of the highest quality. Distributed over three floors, the villa boasts 5 en suite bedrooms and a guest WC. There is a beautiful private pool within the easy to maintain gardens of 1,440m2.
tel: +34 952 880 941 info@winkworth.es www.winkworth.es
€199,900
REF: WW1621
This luxury private residential development in Manilva offers a variety of 2 and 3 bedroom properties. The location is perfect for quiet holidays and is close to all necessary amenities. You can enjoy impressive sea views and the wonderful mountain backdrop. With top-quality communal areas, this complex offers all the services you can imagine including an onsite restaurant and café, two swimming pools, movie theater, fitness room and more! What are you waiting for?
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Not just a pretty face Architects think these are the most beautiful villages in Spain
W
E’VE all read about the purported beauty of Spain’s pueblos blancos. Andalucia in particular is awash with these glistening, white villages, often extolled in publications like Tripadvisor and Lonely Planet.
Perched on top of hills and nestled in mountain valleys, they are one of the hallmarks of property and travel writing, along with Moorish ruins, winding cobbled streets and Game of Thrones castles. But there is so much more to Spanish architecture than picture-post-
card villages. From rooftop hieroglyphs to 500-year-old air conditioning, we round up Spain’s most beautiful villages, from the perspectives of top architects. And yes, there is a whitewashed pueblo or two on the list...
Guadix, Granada
TRULY MARBELLA IN STYLE
The ‘cave houses’ of this town - which number about 2,000 - are its most remarkable feature. These underground living spaces have been chosen by Andalucians since the 15th century, although these days, many are fitted out with full kitchens and even WiFi. Architect Roberto Benito described them as: “A natural insulator that causes the temperature inside to range between 18ºC and 20ºC all year. “The silence and tranquility on the insides, which are also whitewashed to replace the lack of natural light in the deepest rooms, mean these types of homes are still being built today.”
Luxury villas and hospitality in Marbella
To enquire about villa rental, or if you are interested in listing your villa with them for rental for bespoke events, call in to speak to one of the friendly team in the Benahavís office, or call: +34 951 983 679. Email: operations@marbellainstyle.com. Go to www.marbellainstyle.com for inspiration, and to view the latest luxury villa rental listings for your perfect special event!
Often dubbed the ‘most beautiful village in Spain’, you’d be forgiven for thinking that the red sandstone facades of Albarracin are purely aesthetic. In fact, the stunning building material was sourced from nearby quarries for its waterproof and insulating qualities. “The organic material also changes colour over time due to the impact of light,” according to Ignacio Vleming, author of urban architecture book, Fisura. He also described the Medieval and Moorish icon as the ‘summary of much of the popular constructive forms of Spain’.
Alcantarilla, Murcia
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ITH balmy, languid summer days now tantalisingly close, and the pandemic and its restrictions slowly slipping beneath the horizon, it is finally time to celebrate life, loved ones, precious moments, and occasions here on the mesmerising Costa del Sol. Marbella in Style was founded in 2008 by Rebecca Kratz and Julio Fraile. Their background and experience in marketing and event management for top, luxury brands, combined with their passion and knowledge of Marbella and the surrounding area is insurmountable. As they say: “Marbella is our playground, and we know it inside out.” Specialising in providing luxury villa rentals with hotel services, custom-tailored to your exact requirements and specifications, the teams’ avid attention to detail and solid commitment to ‘gold- standard’ customer service, makes Marbella in Style, the ideal company from which to rent your private villa. They can help you host the most memorable birthday parties, family occasions and ‘get-togethers’, bespoke weddings, or perhaps, that extra-special corporate event to get you and your company noticed. They have an impressive, handpicked portfolio of private villas and venues to choose from. Bookings include hospitality services and a 24/7 concierge service for that extra special touch. The company also provides an exclusive, personalised property management service, taking care of the management and maintenance of your property with professionalism and dedication. They also look after any rental enquiries, bookings, and payments of your property, ensuring peace of mind, while you are not in residence.
Albarracin, Teruel
GARGANTA LA OLLA, EXTREMADURA This historical village boasts traditional architecture of stone, adobe and wood and is packed with winding paths. Architect Javier Pena Ibanez recently described how the timber-supported walls of houses in Garganta la Olla
were originally designed to sleep animals on the floor with humans above, so they could harness their heat. The architect and head of architecture festival Concentrico said the town is the ‘locality of the Extremadura region that best reflects the traditional constructive characteristics of the area’. The stunning masonry however is not entirely practical, as some buildings in the town are fragile and lean on one another for support.
“These set of homes come complete with towers, ditch systems and water mills, and reflect a traditional lifestyle from the garden of Murcia,” Architect Sanchez Llorens recently said of Medieval town of Alcantarilla. Original Moorish settlers channeled the Segura River, using the
water for gardening and thus growing the mulberry in the 16th century so they were able to feed silkworms, adding Murcia to the silk road. “That new source of wealth is reflected in its wooden structures,” added Sanchez Llorens, “which would have been expensive at the time.”
PROPERTY Not just a pretty face continued... X
APRIL 2022
Vejer de la Frontera, Cadiz
Arcos de la Frontera, Cadiz
“Vejer is another white town where the mixture of lime, water and sand applied annually to the walls of its houses is a perfect measure against heat,” explained urban architect Almudena de Benito. “The walls of this colour reflect solar radiation meaning lower thermal absorption and, consequently, cooler interiors.” Bougainvillea bushes creeping up walls and around doorways also help fend off the searing temperatures to hit this walled hilltop village. Outside the battlements sit swathes of orchards and orange groves, while inside, is a myriad of quaint cobbled streets, packed closely together.
What you may not know about this town is that its whitewashed houses are ‘organised around courtyards to regulate temperature’. “It has a clear Arab influence
but at the same time is a reflection of the rich mixing of cultures that made us who we are,” said architect and teacher at Superior Technical School of Architecture of Madrid, Mara
Sanchez Llorens. She also claims that the organisation of gardens and buildings in Arcos de la Frontera even inspired Mexican architect Luis Barragan.
CAMPO DE CRIPTANA, CASTILLA-LA MANCHA
PERSONAL SERVICE AT ITS BEST MarBanus Estates: Your quality Real-Estate Agent on the Costa del Sol
H
It wouldn’t be travel writing without invoking a bit of Don Quixote. The windmills of Campo de Criptana are those which allegedly inspired Miguel de Cervantes to pen his seminal work back in 1605. Quixote famously loses his mind and fights the cereal mills, the 16th century architecture of which, is still preserved today. “The route of the windmills can help us to visit landscapes in which, as in the desert, on the coast or other homogeneous environments, certain architectures allow us to have geolocation references and at the same time participate in a collective imagination,” said Sanchez Llorens.
EL GASCO, EXTREMADURA
AVE you been searching The stonepile homes of Las Hurdes are almost the antithesis to the heat-stoin vain for THE perfect pping measures of Andalucia’s pueblos blancos. Ourslate office is in property to call your own These stacked structures are purpose-built to conserve heat, rather than on the Costa del Sol? reflect PUERTO it, as in southern Spain. BANUS Look no further and call into For Sanchez Llorens, the village of El Gasgo, which was the site of a meteoMarBanus Estates, for a profesrite impact a million years ago, is the most emblematic of this cool architecsional, knowledgeable, real-estural style. tate service. “It is interesting to assess how these popular architectures also need a cerLocated in the glamorous, tain technique to be habitable,” she added. coastal resort of Puerto Banus, it is a well-established, reputable property agency. Established inATTENTION 2005, it offers OLIVE a premier,PRESS personalized READERS – QUOTE OPMB TO TAKE ADVANTAGE OF THE FOLLOWING OFFERS service to vendors and buyers alike. Owner, Francisco, and his team’s aim is to guide you with ease and with Streets don’t get minimal stress in acquiring the home of your dreams, or in facilitating the more cobbled sale of your property for the best possible price. than these. The team’s extensive local knowledge of the property industry in Marbella, Architect Pena IbaPuerto Banus, Benahavis, Estepona and the surrounding area, is a and distinctreceive with our compliments, a FREE nez said this minuadvantage when considering investing in a property in the area. ENERGY CERTIFICATE and special reductionte village in our of justfees 50 Their personalised service, coupled with their far-reaching network of partpeople is among ner agents, make MarBanus Estates, the ideal option for those looking to Spain’s most beaubuy or sell property in the area. tiful because of the With an emphasis on looking after their clients every step of the way during ‘conservation and their selling or purchasing journey, this independent real-estate agency This tiny village in the north of the maintenance of stands out from the crowd. and receive with our compliments, FREE PROPERTY REGISTRATION, Balearic island may have the most its popular archiThey provide clients with access to the best legal professionals in the indusunusual roof tiles in Spain. tecture’. “One of try, professional photography, and cutting-edge 3D virtual tours, ensuring with savings ranging from 500€ to 1000€ for you Set in the Serra de Tramuntana, stothe most unique your home is marketed to its true potential, as well as other services such ne-clad houses in winding streets features is that its as currency exchange, property security and a home improvements service. are adorned with intricately crafted
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streets retain the old cobblestone. This urban feature spreads around the whole village, which has stone houses from the 17th century.”
Fornalutx, Mallorca
ceramic tiles, some of which date back to the 16th century. Professor of Art History at Madrid’s UNED, Antonio Perla, said the the objects are ‘painted with scenes, images, symbols, prayers and dates’. The mostly red tiles reflect the history of Fornalutx, including its loves, fears and even the weather.
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XII
APRIL 2022
PROPERTY
GUIDE TO BUYING IN THE CAMPO
INVEST IN A DREAM, NOT A NIGHTMARE... The Olive Press asks a series of industry professionals how to avoid falling into traps when buying rural properties
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ANY people dream of buying in Spain’s beautiful ‘campo’ (countryside) but, if you don’t proceed with caution, your vision of a tranquil life could easily turn into a rural episode of ‘Homes from Hell’. Some common nightmares encountered by unsuspecting buyers include paperwork irregularities, a lack of water, border disputes, access problems and hostile neighbours. And that is just the half of it. Here we take a look at some of the key issues that need to be considered: Boundaries matter First and foremost, don’t buy anything that doesn’t have a ‘Nota Simple’ (an official land registry report) which means it isn’t legally registered. Spain has two different property registration systems - the Registro de la Propiedad (Property Registry), which is focused on ownership and title, and the Catastro or Cadastre, which shows the geographic location of the property, with a physical description and the boundaries defined. The latter is used to calculate property taxes. It’s always best if the two property records match up, although this is quite often not the case, especially with older properties. However, you don’t want a lot of divergence. In 2015, a law was passed to coordinate the two databases. “The first thing to do is to check the boundaries of the property - that the description coordinates with the square meters shown on the Castastral,” says architect Julian Dominguez of MDV Construction,
By Jo Chipchase in Orgiva, who does a lot of work for estate agencies and buyers in rural Granada. He recommends buyers request the current certification from the Cadastre with a full description of the property so they can check and compare that there are no discrepancies. Judith Sunley, one buyer who got ning permission doesn’t apply – it caught out in the rural Axarquia does. Above all, beware of natural area of Malaga, insists: “Make parks – meaning areas with ensure the vendor or their agent vironmental protections in place. shows you the actual boundary - And remember that planning perwalking it with you - to avoid dis- mission can be expensive in Spain. “In protected areas and national putes with neighbours later.” She has a cautionary tale having parks, it’s virtually impossible to bought a charming rural home in get anything legalised that has not 2013 with her solicitor telling her it already been done, but possible wasn’t a problem that the Catastral for existing buildings – although record was different to the Land Re- difficult,” says Matthew Wood, of Lanjaron Property. “Natural Parks gistry. “But it then led to four years of in- are different, but also difficult.” creasingly acrimonious arguments He adds: “Buyers should check the with our neighbours, who were legalities of the build. It can be a ‘legal building’ but ‘grabbing’ our land may only be a nave and planting on it. (storage room or “Eventually, we took Beware of warehouse) and not them to court. But it buying in an actual vivienda was only a day befo(home).” re our court case that natural parks If you’ve bought they finally agreed and classified land with a ‘nave’ on the boundary in on it, local regulathe presence of our rural land tions mean you mirespective topograght not be able to phers and lawyers.” She concluded it was a long and expand the building or reclassify costly process that could have it. And you may not even be able to live in it. been easily avoided. Julian Dominguez agrees: “Before buying, make sure you verify Can you build? what protections there are in the If you’re buying land with the idea area and whether you can obtain of restoring a ruin, ensure it’s not permission from the town hall to just a pipe dream that will simply build.” never happen, leaving you thou- And remember even if the house is legal, if you buy in a natural park sands out of pocket. Don’t assume that because it’s even restoring a swimming pool a remote loca- can be problematic. tion, plan- One expat Tom Down, who bought near a village in the Sierra Nevada natural park area, explains: “I received a ‘multa’ fine of €1,400 for a small concrete repair
around a damaged swimming pool that was hazardous to children.” The local town hall architect explained that pools aren’t allowed in the natural park, even though the pool was marked clearly on his ‘escritura’ as a ‘deportiva’ – a swimming pool - and other neighbouring properties have them. Water – too little or too much Water is vital to life and is also important to your rural purchase! If you don’t have sufficient water, you might need to have it delivered by tanker, which can be very expensive. In some locations, the ‘acequias’ (irrigation water courses) may run dry in hotter months – so do your research first. Just because it says there are water rights in the ‘escritura’, does not mean they exist. “When I bought my mountain ‘cortijo’, I didn’t get a lawyer to check the water rights,” explains Tom Down. “It turned out that I was only entitled to five minutes of water once a week.” In contrast, some places can have too much water. Remember buying at the bottom of a hill means, when it rains, you will get the lot and heavy rain could mean flooding. There’s also the issue of wastewater and cess pits. These are quite complicated and will depend on whether the property is already legal, or is being legalised, as well as its proximity to an already existing ‘acequia’.
“The exact requirements vary between town halls,” explains Matthew Wood. “So, look them up before proceeding.” Research the neighbours and neighbourhood Location, location, location is important. Is your property in the shadow of a mountain for most of the day, meaning it will be dark and inhospitable? Will you need a 4x4 because the access track is liable to degrade and wash away? Your rural idyll could easily be spoilt by pests – human or otherwise. Do your homework outside the property before committing to buy and always talk to the neighbours. Mark Stucklin, of Spanish Property Insight, insists you check if other people believe they have rights concerning the property you’re buying. “Keep an eye out for ‘suspicious’ signs, such as conspicuous pathways running across your land, lots of spent cartridges or other evidence of hunting on the property, signs of people extracting water from ‘your’ stream etc. “If you see anything of concern, draw it to your lawyers’ attention.” Other issues to be aware of are access being allowed along farm tracks, which are under the control of the local farmer – possibly with gates. Make sure they are happy. And remember if you want mains electricity connected, you may need to pass over your neighContinues on Page XIV
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XIV
APRIL 2022
PROPERTY
GUIDE TO BUYING IN THE CAMPO From Page XII
Avoid Facebook bour’s land which requires their permission, so keep them onside. The same also applies to water pipes. You’ll obviously also need to check mobile and internet signals and easy transport links as well as the location of the nearest medical centre. Employ a good lawyer Don’t try to buy a property on your own, and never sign documents presented to you directly by the vendor’s side. “Always seek professional help and don’t take advice from Facebook groups,” insists Matthew Wood. “Use a legal advisor who is fully compliant with rural properties and will visit the property in person. Otherwise, it is impossible to check it properly.” Francisco Ortega of AF Consulting in Motril, who has 20 years’ conveyancing experience, says: “Clarify all the conditions of the sale with the estate agent. However, don’t believe that you don’t need a lawyer to purchase a property, and they’ll do all the paperwork and legal documentation for you. I have many clients who are fighting legal proceedings in the courts for this reason! “We’re talking about a very large investment and the consequences of making a mistake can be financially and emotionally catastrophic.” He adds: “My advice is to find a lawyer in the area – or at least the region where you’re going to buy. Being ‘on the ground’ locally and knowing the surroundings will ensure your lawyer has greater knowledge of your purchase.”
BE PREPARED
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T doesn’t matter what stage of the buying process you’re at: whether you haven’t even visited your first Spanish property or you’re ready to sign those contracts, it’s important to be prepared for the process and do as much research as possible. There are many pitfalls of buying a property in Spain, but the good news is that these mistakes can be easily avoided. With the right information, plenty of preparation, and a positive mental attitude, you’ll be living in your dream Spanish property in no time! To help you with your journey, here are the five most common pitfalls of buying a property in Spain:
1. Not Allowing Enough Time Spanish bureaucracy is notoriously complicated and time-consuming. Expect to queue outside your local Town Hall, fill in three forms even if you think one would suffice, and generally complete more paperwork than you have ever completed before! As a result, the process of buying a property in Spain can be a time-consuming one, and you
Right Casa explains five of the most common pitfalls of buying a property in Spain
should allow plenty of time to complete your purchase.
2. Not Doing Enough Property Research As the buyer of the property, the onus is on you to conduct satisfactory property research: if you don’t do this then you could end up with a property that needs extensive renovation or other unexpected costs. You should ask the following questions: Will the property need renovation work? Has any work already undertaken been completed legally, and are there certificates for this work? Can you access the urban planning records for the property?
3. Not Being Financially Prepared One of the most common pitfalls of buying a property in Spain is not being ready for the extra costs involved in the
process. As well as the property purchase price, you also need to allow enough funds to cover the associated taxes, legal fees, and any related estate agent fees.
4. Not Having the Legal Registrations You Need In order to purchase a property in Spain you will need to have a NIE number and a Spanish bank account. If you don’t have these registrations in place before you start the purchase process then it is likely to delay things.
5. Not Reading the Contract You shouldn’t proceed unless you completely understand what you’re committing to. You should thoroughly read and understand all of the paperwork and documents that you are issued throughout the buying process. When your documents are issued
in Spanish, you should translate them and hire a lawyer to check them. If you’re looking for trusted and experienced estate agents in Southern Spain then why not get in touch? Our locally based property experts are a font of local knowledge, and are perfectly placed to help you find the home of your dreams. info@rightcasa.com +34 951 490 503 Calle Mérida de Jarales, Local 14 29649 Calahonda Málaga, Spain Av. Reyes Católicos, 58 29130 Alhaurín de la Torre Málaga, Spain
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XVI
APRIL 2022
PROPERTY
BIG PROJECT
Entire abandoned village with Romanesque church for sale in central rural Spain
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HOSE looking for a project may be interested in an entire abandoned village for sale in Burgos in central northern Spain. It includes a Romanesque church and the
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potential to rebuild some 50 stone houses and could be yours for €350,000 or the price of a 2 bed flat in Madrid or London’s Blackheath. The village of Barcena de Bureba lies around 100km south of the city of Burgos
ON THE UP!
and just 25km east of Aranda del Duero. But like many rural villages across Spain’s vast interior, its inhabitants drifted away to the cities and it has been largely abandoned since the 1980s. The urban nucleus is made up of 50 houses of various sizes, with many of them described as being structurally in relatively good condition although in need of serious renovation. Most of the buildings are built with limestone walls, and are connected to electricity and water supplies, according to Spanish portal Idealista where the property is listed. The gem of the village is a small Romanesque-style church. The sale of the entire village is likely to generate excitement among those looking to relocate from the city to ‘empty Spain’. Recently entire villages in Spain – many in Teruel, Soria and Galicia - have been bought up by groups of friends as a retirement project or as ‘co-working’ projects. The issue of depopulation in rural areas has become a political one with efforts now being made to entice people back to the countryside to
IBRALTAR has undergone a major transformation evolving from a small British Colonial Garrison Town into a self-thriving economy built upon a wide range of commercial business activities ranging from tourism, shipping, and port industries to highly regulated financial services BFA takes a look at property and the gaming industry. development in Gibraltar All of this has generated demand for property construction both for commercial and resi- undertaken by Harbour Developments Limitdential needs. ed, a consortium made up entirely of locally Continuous economic growth has encour- based developers. aged significant public-sector investment into The reclamation, situated in a prime location new schools, sporting complexes, roads, air- to the West of Coaling Island, aims to create port, public transport, services, and clean en- up to 60,000 sqm of new land area. ergy infrastructure, all within a vibrant econ- Another spectacular development has been omy and a strong growth in Gross Domestic the recent concession granted to the TNB Product per capita. Global Foundation to develop a multi-millionThis direct investment has fuelled and moti- pound marina development, which will provated private sector investment into property vide an exciting mix of residential and comdevelopment which is being delivered to in- mercial amenities in a waterfront environcreasingly higher standards through compet- ment incorporating landscaped recreational itive tendering. breathe new life into dying gardens, hotel, and superyacht marina. The last 18-24 months has seen an acute villages. increase in property sales as a result of an Efforts include a pledge by increase in purchaser demand and with limSpain’s government to bring ited resale supply of properties, with high high-speed internet to farend property fetching as much as £8,000 flung rural areas to encour£10,000 per m2 circa £1,500 more per m2 age remote workers or digital than two years ago. nomads to relocate. This surge in demand, primarily driven by speculative investors, has in turn encouraged the developers to re-launch the luxury development schemes which had been put on hold. New Developments in the Gibraltar offers a safe and desirable place to live and work embracing luxury lifestyle with pipeline for construction comfort within a secure andVILLAS structured UNDER CONSTRUCTION – RESERVE YOURS NOW! LASTliving REMAINING fiscal environment. Register with BFA for your VIP listings Recently announced Within the enclavebyofthe theGibraltar natural Govbackdrop of thebefore historic North Gorge of Gibraltar, this development of 48 detached launch of off plan sales ernment, andand probably the most ambitious Hilton Project - The 160 Bed terraced houses is underway as The scheduled following the successful off plan sale of Phase I. project to be supported by the Government, Hilton Hotel for anda2Gibraltar Luxury Residential The North private Gorgeinvestment development hastobeen shortlisted Sustainability Award. Few remaining properties is a significant initiative developments. reclaim land from the harbour. developforThe sale in phase II with pricesPlaza ranging betweenand £1.4 to £1.8 million. Queens - Commercial ment project known as ‘Victoria Keys’, will be Residential Development North Gorge - Luxury Eco Friendly Villas within the surrounds of a Natural 17B Casemates Square Sanctuary
NORTH GORGE DEVELOPMENT
The Balcony Gibraltar Tel: 00(350) 200 71131 / 71625 Email: info@bfagib.com
And other smaller and exclusive projects underway…
FOR SALE: This entire village with 50 homes and a church in Burgos could all be yours
NORTH GORGE DEVELOPMENT LAST REMAINING VILLAS UNDER CONSTRUCTION – RESERVE YOURS NOW! Within the enclave of the natural backdrop of the historic North Gorge of Gibraltar, this development of 48 detached and terraced houses is underway as scheduled following the successful off plan sale of Phase I. The North Gorge development has been shortlisted for a Gibraltar Sustainability Award. Few remaining properties for sale in phase II with prices ranging between £1.4 to £1.8 million.
THE BUCKTHORN – GIBRALTAR
THE FIG – GIBRALTAR
£1,800,000 (OFF PLAN PRICE)
£1,490,000 (OFF PLAN PRICE)
Bedrooms: 5 | Bathrooms: 5
Bedrooms: 4 | Bathrooms: 4
Semi-detached 4 storey villa with integral garage, garden, balconies, car port and solarium terrace with jacuzzi. Passenger lift serving all levels including roof.
Terraced villas also with integral garage, balconies, car port and solarium roof terrace. Passenger lift serving all levels including roof.
PROPERTY DETAILS
PROPERTY DETAILS
Interior size: 232m² | Total area: 338m² Balconies: 13m² | Roof Terrace: 46m² | Garden: 47m²
Interior size: 180m² | Total area: 268m² Balconies: 17m² | Roof Terrace: 53m² | Garden: 18m²
THE BAY – GIBRALTAR
THE FERN – GIBRALTAR
£1,440,000 (OFF PLAN PRICE)
£1,710,000 (OFF PLAN PRICE)
Bedrooms: 3 | Bathrooms: 3
Bedrooms: 4 | Bathrooms: 4
Terraced Villas also with integral garage, rear garden, balconies, car port and solarium roof terrace. Passenger lift serving all levels including roof.
Terraced Villa also with integral garage, balconies, car port and solarium roof terrace.
PROPERTY DETAILS
Interior size: 160m² | Total area: 233m² Balconies: 9m² | Roof Terrace: 43m² | Garden: 21m²
17b The Balcony – Casemates & First Floor Hadfield House Library Street, Gibraltar
PROPERTY DETAILS
Interior size: 204m² | Total area: 301m² Balconies: 17m² | Garden: 18m²
Tel: 00(350) 200 71131 Email: info@bfagib.com www.bfagib.com
LAST REMAINING HOUSES – RESERVE YOURS NOW – EMAIL INFO@BFAGIB.COM
PROPERTY
XVIII
OVER 250,000 PROPERTIES FROM 2,000+ AGENTS
APRIL 2022
TAKING GOOD CARE HomeCareontheWeb is growing from strength to strength
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XPERTLY weathering the pandemic under the new management team of Christine Trainor, Jenna Bland and Courtney Trainor, the coast’s leading property management company is ready to lift the company to new heights. Christine says: “Our new team is raring to go. The pandemic is over and homeowners are keen to ensure their properties are up to rental-ready standard.” Founders Tony and Gill started the company with a mission of caring for properties as if they were their own, growing it in size to become one of the leading property companies on the Costa del Sol.
Integral
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Christine joined their team in 2008 initially as financial controller before becoming general manager. Jenna has been an integral part of the management team since 2011 as operations manager, whilst Courtney has been a seasonal employee of the company for many years, recently taking up her new role as sales and marketing manager. Jenna says: “Our offices in La Cala de Mijas cover the Costa del Sol from Malaga to Sotogrande. We have a friendly and professional team providing pres-
tige property services to holiday homeowners and tenants.” Courtney says: “Our rental team will find you longterm or holiday rentals to help maximise your property’s income potential, whilst handling the entire rentals process on your behalf.” The company’s holiday rentals website features a simple-to-use FRIENDLY TEAM: Christine, Jenna and Courtney ‘browse, book and pay’ system so holidaymakers can 9 Out-of-hours emergency service easily find their perfect holiday home 9 Calendar facilities for planning holiday visits while the long-term rental team helps 9 Financial statements and credit tenants find their dream home. card payment system Overall HomeCareontheWeb 9 Rentals management 9 Holiday rental accommodation provides… 9 Long-term rental accommodation 9 Property care services including regular inspections and on-line reports 9 Automatic cleaning and laundry 9 In-house maintenance team
HomeCareontheWeb also provides a free advice service, so if you need any help or guidance, call them on (+34) 952 83 95 95, or visit their website at www.homecareontheweb.com
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Our secure Online Owners’ Management Area gives you access to comprehensive information and allows you to order services including housekeeping and maintenance. You can also see financial statements, inspection reports and control your live calendar.
We make owning a property on the Costa del Sol a rewarding and happy experience. When you are away from your property, especially if it’s for long periods of time, you can rest assured that we are here taking the best care of your home away from home and your rental bookings.
We provide every management service an owner could need, from regular inspection visits to check all is in order, providing towels and linen, cleaning, payment of utility bills and local taxes through to home maintenance and improvements to complete renovations.
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FINCA EL PILAR R3778912 – 2,250,000€ Beautiful Land of 17,051 m2, on the edge of the village next to the town centre of Benahavis town, with many possibilities due to its ideal situation, with only one main entrance and same exit giving privacy and tranquillity. Within the plot, there are two villas. The sculptor owner has decorated the interior with an eclectic mix of ethnic and modern pieces, original sculptures and paintings, a tiled kitchen and a large airy living room. It has to be seen to be appreciated, totally secluded but within a short walk of the many bars, cafes and restaurants that Benahavís affords. BED: 9 | BATH: 4 | BUILT SIZE: 552M2 | TERRACE SIZE: 200 M2 | GARDEN/PLOT: 17,051 M2 GARAGE: YES | GARDEN: YES | SWIMMING POOL: YES
T: +34 952 85 54 89 E: info@propertiespain.com W: www.propertiespain.com Urb. La Aldea Plaza Camilo José Cela, Local 1 29679 Benahavís, Málaga, Spain
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APRIL 2022
PROPERTY
NO MORE STONEWALLING! A once grandiose palace is now on the red list of Europe’s most endangered homes while its corrupt town hall plays games
IT was once the grand Spanish seaside palace of the aristocratic Orleans-Borbon family. Spread over 6,000 square metres, the former royals kicked back in its Arabic-influenced walls and cascading gardens during their regular summer sojourns down south. But the giant property, in the heart of the Cadiz town of Sanlucar de Barrameda, is now in danger of collapse. El Palacio de Orleans-Borbon has just been included in the list of the ‘Seven most endangered monuments and architectural gems’ on the continent by the Europa Nostra association. Built between 1853 and 1870 for Antoine d'Orleans, Duke of Montpensier, the youngest son of King Louis-Philippe I, and his wife, the In-
IN DANGER: Glorious facades survive but the building is on the verge of collapse
fanta of Spain, Louise Fernande de Bourbon, it needs urgent protection. According to the association at least €5million needs to be spent to protect the building from falling into total decay. The neo-mudejar masterpiece is in danger of collapse and funds ‘need to be urgently raised to save it’. The town hall - Spain’s most opaque with a mere 2.5% transparency rating - has long-ignored its responsibility to its patrimony. Despite acquiring it in 1979, little has been done to repair it. This month, however, the PSOE town hall claimed it had been waiting on various promises of funds from successive central governments and the Junta.
XXI
PERFECT ESCAPE
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It also insisted some €345,000 was set to be spent over the next few months to shore up the most neglected parts and prevent collapse. Europe’s six other most endangered monuments are the Zogu bridge, in
Albania, Recollets Convent, in Belgium, La Butte Rouge, near París, the ancient centre of Stolberg, in Germany, the Neptuno baths, in Romania, and the fort of Crevecoeur, in Holland.
URING the second half of the 19th century, the relationship between the Duke of Montpensier and his mother-in-law, the Queen of Spain, was anything but good and forced the young couple to live far from the cour t. The Duke and Infanta established their winter residence in the Palacio de San Telmo in Sevilla and their summer residence in Sanlucar de Barrameda, in Cadiz. The royal couple, on something of an extravagant whim, purchased three connected buildings in Sanlucar, the old seminar y school, a merchant’s house and a wing of the Convento de las Mercedes. The three buildings were integrated to create an extravagant palace, with a wonderful garden, in the hear t of the seaside town, famous for its sherry. A series of Spain’s best architects, including Balbino Marron, Juan Talavera de la Vega and Fernandez Ayarragaray, were involved in designing Spain’s first neo-Mudejar style building. In 1971, the palace was sold to an investor in Sevilla, who intended to demolish the building and build houses on the site. However, thankfully the locals stood up and demanded action and Sanlucar town hall acquired the building in order to avoid its destruction and to put it to public use. Sadly this has not happened.
Unique Investment opportunity Nueva Andalucia, Plot of 11.000sqm to build up to 8 villas, breathtaking views 5.500.000€
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APRIL 2022
ROC SOLID!
Roc Estates - a reliable choice for property on the Costa del Sol
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RAWLING through property after property online and traipsing to viewing after viewing in the hope of finding your dream property here on the Costa del Sol is never an easy task.
It becomes all the more frustrating when you do stumble upon a potential winner, but it’s not quite what you would Unique Investment opportunity class as a ‘dream property’ in its current state. of 11.000sqm to This is what makes Roc Estates a Nueva great Andalucia, choice ofPlot real estate agent to build up to 8 villas, breathtaking views deal with. Not only do they help you5.500.000 to buy€and sell your property or investment - but they also specialise in providing consulting, project management, renovations, construction and rental management services. This ‘one-stop-shop’ enables clients to enjoy a minimum stress and hassle-free experience in finding their dream home or investment property, and expert help in transforming it into the home or rental property of dreams, if necessary. The team aims to serve their clients with an individually-tailored service Let us help and assist and provide you with the most professional industry advice, you, whether tohome. eitherConsidering find or build your dream home! you are looking to buy or sell your renovating or updating your property, or perhaps you are searching for a trustworthy Feel free to contact if you with are looking to buy or sell, build o and reliable company to manage your property andusdeal rentals, We key-holding, would love to help andyou assist younot within our expertise and p security, maintenance, cleaning and while are residence? The team at Roc Estates can help! +34 650 952 084 bargain info@rocestates.com They also specialise in investment opportunities, and distressedwww.rocestates.c sales, and bank repossessions in top areas like Marbella and Estepona. With a wide-ranging network of industry contacts built up over many years, Roc Estates are the experts at matching the right property to the right client. The friendly, multilingual team has over 20 years property sales experience in the Costa del Sol and Scandinavia. Call them on: +34 650952084 or email them at: info@rocestates.com. Go to www. rocestates.com for listings and more information.
LOVE AT FIRST SIGHT But after eight minutes it takes to decide to buy, please check the details, writes Vanessa Davila of the Spanish Estate Agent
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ESPITE it being one of the most important decisions of our lives, it seems that buying property is really a question of love at first sight. A study conducted by the UK’s One Poll found it takes buyers a staggering 480 seconds - just eight minutes - to decide if a property is the one for them. Of those interviewed, already 15% revealed they knew they wanted to buy just from seeing the ad. Meanwhile six out of 10 people will rule a property out before even stepping into it. When you also keep in mind that remote buying has skyrocketed in the last year, you will get the idea of how important it is to have a thorough and accurate listing that considers the surrounding area. All this rang true when we recently fell in love with a refurbished studio in Fuengirola’s Pueblo Lopez development. We had recently moved back to Spain from Edinburgh and were living in Elviria but looking for a small ‘pied a terre’ in Fuengirola, where I spent my childhood summers and where the family still gathers every August. The instant attraction to this authentically Spanish looking property saw us making an offer on the spot but the delays that followed on the side of the vendor soon put a dampener on our enthusiasm. Everybody talks about qualifying buyers so that they are ready to move in quickly, but often agents fail to inform vendors about what documents they need to present to complete a sale. It soon transpired that our seller in
Fuengirola had been misinformed about the plusvalía tax and was going around in circles. Not only did this flatten out our excitement but it made us question ourselves at length…Did we really want this ONE? As a vendor, it is worth getting the house in order first. From sorting out buyers ‘pet hates’ (flaking paint and smells being high on the list) to having all the necessary documentation at hand. So when the right candidate walks through the door and falls in love with your property, you know that it will be a lasting romance instead of a one-night stand.
The love goes on Thinking of selling or know someone who is? Get in touch with the best team on the Costa del Sol to find you a buyer and make selling a breeze. Oh, we did go through with the buying in the end and we’ve ended up with a very lovely charming studio. We were just getting ready to rent it last month when some friends told us of their Ukrainian friends arriving after slowly making their way through Europe. So, like many other people on Costa del Sol, we have lent it to them to live for a few weeks while they find their feet. And the love goes on.
SELL WITH THE BEST!
Email enquiries@thespanishestateagent.com or call 951 516 905
XXII
APRIL 2022
PROPERTY
A safe haven
OVER 3,000 kilometres separate the ‘tranquillity’ of the costas from the horrors of Ukraine. However, the effects of the war have become the ‘trigger’ for a sharp rise in inflation and shortages that have been building up since the financial crisis in 2007/8. This has been building with 14 years of quantitative easing, pensive, at a time which basically means the when consumers ‘watering down’ of currencies. are spending Add in a sudden shortage of more of their infuel, wheat and other commocome on general dities, alongside disruptions of ges in the local market. living costs, there are some trade caused by Covid, and Overall, the answer has been, positives. consumers are suddenly fin‘Not yet’. But there’s greater In particular, property is seen ding they’re not getting so uncertainty about the future, as a safe haven in times of much for their Euros, Pounds particularly from their clients. inflation… and Spain has a or Kroner, and definitely not With some, there is an urgency nice range of it as far away as their Roubles. to buy just to get the security one can get from the troubles Inflation is traditionally slowed of a ‘fixed’ asset in northern Euby wage and price controls, before anything rope, including with the latter now being immajor happens. the Ukraine war. plemented in Spain for fuel, With others, theThen there are There’s greater as well as restrictions on rent re is greater cauthe obvious Thinking of Selling? uncertainty increases. tion and a wish factors like the It is also controlled by reduto hold onto what weather and about the cing the amount of money they’ve got. One cost of living, urgently need available, We by increasing intefuture lawyer even said but also things rest rates. This leadsalltothe cash that two clients properties way like the ‘free’ and savings having less value, had pulled out of energy from the Sotogrande meaning from people start usingto sun being readeals within the it to buy things that will hold last few days, losing their 10% dily available here. Benalmadena their value, such as property. deposits. Over the last week, I’ve asked for eager While rising interestbuyers. rates Either way, agents have rarely many professionals if they are make mortgages more exbeen so busy with deals being finding any evidence of chan-
Is the Ukraine war (and inflation) affecting Spain’s property market, asks Campbell Ferguson of Survey Spain
Phone us now on +34 951 516 905
SELL WITH THE BEST!
IT’S YOUR MOVE! Thinking
of Selling?
• A database of over 10,000 potential clients across all continents. • Tap into our worldwide, award-winning marketing. • Experienced, professional and dynamic sales team.
We urgently need properties all the way Email us at info@thespanishestateagent.com visit our website at www.thespanishestateagent.com or visit us at Avenida España 250, Estepona 29680. from Sotogrande to Benalmadena for eager buyers.
Phone us now on +34 951 516 905
IT’S YOUR MOVE! • A database of over 10,000 potential clients across all continents. • Tap into our worldwide, award-winning marketing. • Experienced, professional and dynamic sales team. Email us at info@thespanishestateagent.com visit our website at www.thespanishestateagent.com or visit us at Avenida España 250, Estepona 29680.
XXIII
APRIL 2022
A LIFESTYLE CHOICE
International project manager Javier del Carpio who is leading one of the Costa del Sol’s largest development projects, Small Oasis, talks to the Olive Press
M
EXICAN Javier del Carpio, may have a background in Chemical Industrial Management, but he has more than 25 years of experience in Real Estate. Here he answers some questions about the exciting Small Oasis project which he first proposed in 2018, and why buyers should invest in a home in the scheme.
concluded and the difficulty of finding properties for their clients to buy. The logic is that demand should go down for those just looking for a holiday home, as there will be less money around. British buyers are likely to be some of the worst affected as they are already suffering from the impact of Brexit. Russians, too, will be absent. However, the reduction in these sectors are being made up for by buyers anxious to place their funds in solid assets, far away from the current conflict. And the costas have already seen significant increase in buyers from Germany, and interestingly Romania, over recent months.
Golden visas Something else worth considering is the EU’s planned changes on the granting of investment-backed visa’s. This is likely to cause a rush of applications with ‘golden Visas’, as they are called, getting granted to families investing more that €500,000 in property here. They can also be acquired by investing the same amount in Spanish companies or even Spanish Government Bonds. Overall, expensive property should not see any significant changes, with an increase of interest rates. However, lower value property purchases are more often linked to mortgages, and that market may stutter as buyers find it har-
der to find a mortgage or shy away from them in case interest rates rise substantially. Fixed rate mortgages are becoming hard to find. We tend to forget that higher interest rates were once common around Europe, with them being as high as 17% in the UK in 1979, when inflation averaged 13%. Fortunately, and hopefully, we are a long way away from those levels. To conclude, I believe the demand for property from those with money will continue, therefore encouraging the upper price sector of the market in Spain. However, buyers, agents and other professionals will be ‘looking over their shoulders’ with unease, unsure of what lies ahead.
Why should buyers invest in Small Oasis? First of all, we are a very sound company - in fact we have just been approved for a $170 million loan to buy real estate here in Manilva. Small Oasis offers security, reliability and amenities for all ages. These are of a very high standard and include a movie theatre, an infinity pool as well as a children’s pool. We are also committed to sustainability, having wells, solar panels and energy efficient installations. This means our current and future projects are environmentally friendly.
When will the project be finished? It depends. Our target is within two years. However, some issues are beyond our control. For example, the town council has to grant us permits and approvals, which require time. We also have to consider our own construction work and the possible changes that may occur during the course of the project. Although it is a complicated and long-term project, we are dealing with a large real estate company that is valued at some €130 million.
How many homes have been sold and how many are left to sell? From the first phases, 258 have already been sold and 50 are still available. We have just launched the luxury apartments and we have already sold one - the other 144 are still available.
What’s planned for the years ahead? Once we finish the current projects, we will certainly move forward. We have already evaluated a couple of plots of land available in Manilva. We are evaluating other projects on the Costa del Sol as well as exploring other possibilities such as in Murcia. We attach great importance in continuing to create homes that offer a fantastic lifestyle to the buyers, but following the company values of sustainability we build into all our projects.
What nationality are your buyers? We did not expect to have as many local buyers as we do. It has been a very pleasant surprise for Small Oasis. Apart from that, our most important markets at the moment are the Polish and Czechs. We also have Belgians and Dutch as top clients.
Campbell D Ferguson, FRICS. Chartered Surveyor in Spain. RICS Registered Valuer. Director – Survey Spain SL. Regulated by RICS. Tel: 00 34 952 923 520 & Mobile: 00 34 650 599 701 - www.surveyspain.com
For more information please call one of our professional, friendly team on +34 604 416 821, email: welcome@smalloasisbiglife.com or see our comprehensive website at www.smalloasisbiglife.com
LIVE IN AN EXCLUSIVE OASIS OVERLOOKING THE OCEAN
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Costa del Sol
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QUOTE - Olive Press AD
LAST GREEN A rare opportunity to buy a large 4 bedroom corner townhouse in Last Green. 4 Beds | 4 Baths | 425m2 Built | 116m2 terrace REF: 176-01407P | 1.150.000€ The house is in immaculate condition as the current owner has done several improvements in the last year. The kitchen was recently fitted using only the finest of materials creating a wonderful focal point in the house. The split level living and dining room has a luxurious feel where the living area leads you straight out onto one of the terraces and the garden area. All 4 bedrooms are on-suite. There are incredible sea and mountain views from the large solarium. The property has undergone an extensive maintenance program with the changing of all electrics, the installation of a top quality antical water softener, new wallpaper and painting throughout.
GUADALMINA ALTA Spacious apartment in Gudalmina Alta with incredible views. 2 Beds | 2 Baths | 126m2 Built | 45m2 terrace REF: 176-02010P | 435.000€ A rare opportunity to acquire a large 2 bedroom apartment in the emblematic building of El Iiwi in Guadalmina Alta. First thing that you notice is the generous size of all rooms. The spacious hall leads you into the living dining room with direct access to a large partly covered terrace. There are striking views across the golf course and towards the mountain range in the west where you can enjoy unforgettable sun sets.
GRANADOS GOLF, LAS BRISAS Grand apartment with a villa feel in the popular gated urbanization of Los Granados Golf. 3 Beds | 3 Baths | 166m2 Built | 72m2 terrace REF: 176-01635P | 899.000€ The ample reception room leads you the spacious living and dining room that leads you out onto the very large covered terrace with open garden views. From here you can walk straight out onto the communal gardens and beautiful pool area. There are 3 large bedroom suites that include a very generous master suite leading out onto the terrace. The property can also be accessed directly from the underground garage via the lift.
CENTRO COMERCIAL PLAZA 63 | 29660 NUEVA ANDALUCÍA | SPAIN +34 952 816 250 | INFO@ANDADEV.COM | WWW.ANDADEV.COM