Olive Press Spain - Issue 412

LEFT IN LIMBO

‘Sharp’ and ‘shoddy’ practices land dozens of foreign villa buyers millions out of pocket as Costa developer collapses

LAWYERS have been joined by mortgage brokers and agents to slam a giant construction firm that has left up to 100 foreign buyers ‘likely tens of millions’ of euros out of pocket.

Urgent legal moves are taking place after all projects of the firm Otero ground to a halt on the Costa del Sol, the Olive Press can reveal. Countless firms and hundreds of workers have pulled off the sites af-

EXCLUSIVE

By Jon Clarke & Walter Finch

ter Otero stopped fulfilling its payments on January 25.

Dozens of clients have called in lawyers demanding to know what has happened to their investments for luxury villas costing between €500,000 and €2 million.

One legal firm, Martinez-Echevarria, confirmed it was representing ‘around 20 clients’ who had bought properties in Marbella, Estepona and Manilva.

“The majority are foreign, English, Dutch and Belgians, etc, but what links them is they have all paid a lot of money, up to €2m each,” lawyer Fermin Siguenza told the Olive Press.

He added his company was also representing a number of agents and contractors.

“We don’t know how much we will be able to recover or even if the clients are protected. It’s early days, but we are trying our best.”

Meanwhile, a Marbella-based mortgage broker Tancrede de Pola revealed he was helping four clients, who have lost out.

“They are royally screwed, especially as the unpaid contractors are taking everything moveable off the sites, including windows, and even kitchens.”

He continued: “I didn’t like the way Otero operated from the beginning and I tried to tell agents not to work with them due to their sharp practices.”

The Olive Press has spoken to workers from at least three companies removing their materials from one site, called Oceanic, in Manilva. One employee of Fartech claimed that ‘well over a million euros’ is owed to firms at this site alone.

The Cadiz firm is owed ‘at least’ €150,000 for security equipment for the 24 homes, 20 of which have already been sold at between €1.3 and €1.8 million.

“It’s a massive hit for us,” explained the Argentinian, who gave his name as Mario. “But there are loads more suppliers and firms who have lost more than Fartech. “Some are owed €500,000, others up to a million.”

He added: “It’s a total joke that they flattened this area, put up a few concrete shells and then it all collapsed on January 25 when cheques stopped cashing.

“We’ve heard rumours that the owners have fled to Venezuela, but nobody knows.”

The Olive Press has learnt that the company had first failed to

GONG: Ruben Otero poses with an award in November, while (above) Oceanic in Manilva

ANGRY ACTIVISTS

PROTESTERS have slammed a new law excluding hunting dogs from animal welfare legislation. The groups held protests in 44 cities across Spain as politicians got set to vote on the law this week.

Animal rights group PACMA is furious welfare measures have been watered down to exclude animals in-

Game, set, Malaga

TENNIS star Novak Djokovic has arrived back in Malaga just days after winning his tenth Grand Slam in Australia. The Serbian star, 35, who now has the same number of major titles as Spain’s Rafael Nadal, has a home in Marbella, where he lives for much of the year. The newly-crowned world number one posed for photos with fans at the Inacua Racket Centre near Malaga airport. He was seen training in Torremolinos before Christmas, before travelling to Melbourne.

volved in traditional hunting activities. The PSOE-led government made changes to the bill amid fears it could cost it vital rural backing in this year's local and national elections. Dogs are used to track or catch animals such as deer, wild boar and rabbits, with the hunting industry generating an estimated €5 billion each year.

FURY: Animal rights activists take to the streets

Route to victory

Avanza promises to improve services along the coast if demand becomes clear

A MALIGNED transport company has vowed to increase the number of buses along the coast if it sees enough demand for it. It comes as an Olive Press survey found that there is huge dissatisfaction with

By Walter Finch

the service provided by Avanza between the towns of the western Costa del Sol. The online poll of residents in Manilva, Estepona and

Cops face prison over Catalan attacks

A TOTAL of 45 police officers are facing trial for excessive use of force during the illegal Catalan referendum in 2017.

A judge has ruled ‘unnecessary’ and ‘gratuitous’ force was used against people who participated in the ballot.

The group of National Police could now face assault charges, with many of their actions either authorised or, at least, tolerated by bosses.

Meanwhile, accusations have been withdrawn against a further 20 officers, during the region’s attempt to justify breaking away from Spain. Images of police violence during the voting were seen across the world, and drew widespread international condemnation. The public prosecutor now has a month to decide whether to call for the case to be shelved, or to formally accuse the officers.

Marbella found that a huge majority (87%) declared public transport to be ‘a problem’ along the coast. Some 40% said the poor bus services were a ‘big problem’ for them personally. And nearly half (47%) said that, although they owned cars, they still agreed public transport was a serious problem.

Demand

A spokesperson for Avanza told the Olive Press they tailor the number of buses per route to the demand. This raises the possibility it could increase the frequency, if residents’ experiences were taken seriously. But she insisted Avanza

ACTION: The OP is pushing for change

was working to add all their bus routes to Google Maps, raising hopes that residents could soon reliably know when a bus is coming. She also added they were working to install card machines to ‘a large number of our routes’, reducing the need to carry cash.

A GARDENER accused of starting a massive forest fire that swept across the Costa del Sol in 2012 has admitted working on the farm.

However the Spanish man, from Alhaurin, who faces seven years in jail, denies starting any fires during a trial in Malaga. The blaze killed two, hurt four, and damaged 347 properties burning more than 8,500 hectares in Mijas, Marbella, Ojen, Monda and Alhaurin.

The gardener – who has not been officially named – denies setting fire to prunings at the property in Barranco Blanco (Coin) and then leaving the smouldering piles unattended. He has admitted carrying out maintenance for the Belgian homeowner, who was away at the time.

Corruption blow

SPAIN has dropped down the international corruption rankings.

The country is now below Portugal and Lithuania, while level with Botswana.

According to Transparency International, Spain scores only 60 out of 100 on the Corruption Perceptions Index (CPI). This puts Spain 35th out of 180 countries. Denmark is the least corrupt country in the world.

WITH the current biting temperatures, a zoo has been forced to take action to keep its residents nice and toasty.

Many of the animals, such as gorillas, orangutans, meerkats and red pandas, at BioPark Fuengirola come from tropical climes and have little time for genuinely cold weather.

So to keep them warm, a series of tricks have been employed by keepers.

These include radiant floor heating both inside and outside enclosures, heat lamps, heated beds and warm pools. Diligent zookeepers have also modified the animals’ diets to include vitamin supplements, vegetable broths and herbal teas for an immune system boost.

LAST LAUGH

An expat comedy club that hosted the like of Eddie Izzard and Michael McIntyre closes after 18 years

BACK in 2005, a new comedy club arrived in Madrid and Barcelona. The brainchild of Irish promoter Stephen Garland, the idea was to bring top-flight comedians from the Edinburgh Fringe to Spain for the first time.

Legendary Irish comedian Jason Byrne was the first to appear. His outstanding show, performed at the Giggling Guiri in both cities, was a taste of things to come.

Nearly two decades on, another top stand-up comedian, England’s Seann Walsh, became the final act at the club.

“I’ve got the jackpot of multiple sclerosis,” Garland tells the Olive Press, explaining his main reason for throwing in the towel. “It’s ‘primary progressive’, and generally that’s a fast-track to the end.”

Having studied music and media management, Garland arrived in Barcelona in 2002

EXCLUSIVE

By Simon Hunter

and soon ‘had the bright idea of making an Irish festival’. The multidisciplinary event was planned around Saint Patrick’s Day, 2004 but, unfortunately for him, the date coincided with the 11-M terrorist attacks in Madrid. As Spaniards came out onto the street to protest in response to the atrocity, the crowds stayed away from the shows.

Wounds

“So I went back to the drawing board, to lick my wounds, and the following year I decided to make a comedy club in Barcelona and Madrid,” he says. The result was a consistent run of award-winning shows. Among the major names that were tempted over were Eddie Izzard, Michael McIntyre,

Star visit

Stephen K. Amos, Reginald D. Hunter, Arj Barker and even Howard Marks, the notorious Welsh drug smuggler-turned raconteur.

As well as health issues, the pandemic has also played a part in the decision to call it a day. The shows that were the stock in trade of the Giggling Guiri were no longer pulling in the punters. “The world has moved on, and now the pandemic has pushed everyone to watch their

HOLLYWOOD star Nicole Kidman has been posting photos of herself on Mallorca. She is among other stars, including Morgan Freeman, who are filming a series called Lioness for Paramount+ Filming is set to continue until the start of March.

Lioness is based on true events and tells the story of a young marine recruited by the CIA to befriend the daughter of a terrorist group in order to bring down the organisation from within. Paramount+ is working in collaboration with Balearic studio Palma Pictures, as well as SurFilms.

Winning smile

STAR of Chocolat and The English Patient, amongst many other films, Juliette Binoche is to be honoured at the Goyas. The French actor and twice Oscar winner, 58, will be presented with an International Goya at the prestigious ceremony, being held in Sevilla on Saturday.

The academy described the Parisienne as ‘one of the most admired and recognised names in European cinema’.

Last year Cate Blanchett received the first-ever International Goya Award.

comedy on streaming.”

Another major issue for Garland is the need to pro mote gigs via social media channels: “I no longer have the patience for them!” he complains. “They’re so time consuming.”

Seann Walsh blew the crowd away in Barcelona and then proceeded to do the same in Madrid on the following night for the very last show.

Emotional

Garland took to the stage before the main act and gave an emotional speech, clearly somewhat unsteady on his feet due to the MS.

After Walsh’s show was over, the promoter got back up and said more words. This time he was very unsteady on his feet given he was, as he puts it, ‘hammered!’

But no one in the crowd –some of whom were at that very first gig back in 2005 –could blame him. They were just very grateful for all the laughs he’d brought them.

IN COMMON: Binoche and Blanchett - both Goya winners

SPECIAL GUEST: Garland (left) with Eddie Izzard

Drive-by arrest

BRIT Nana Oppong, 42, wanted over the drive-by murder of 50-year-old grandfather Rober Powell in Essex, has been arrested trying to enter Morocco from Spain.

Bad landing

SPANISH cops landing on a Gibraltar beach and firing shots as they chased smugglers has been slammed as ‘a gross violation of British sovereignty’ by the Rock’s government.

Dutch arrest

A high-profile member of the Dutch Mocro-Mafia is among nine people arrested for operating an international cocaine trafficking ring out of Malaga, with 740 kilos of narcotics seized.

‘Not guilty’

RIGHT wing British extremist Kristofer Kearney, 37, who set up home in Marbella before being extradited to the UK has denied ‘disseminating terrorist publications’ at the Old Bailey.

GROUND ZERO

EXCLUSIVE:

POLICE have not ruled out digging up a section of a derelict racecourse where teenage expat Amy Fitzpatrick is allegedly buried. But they told the Olive Press this week they need ‘more information’ before bringing in diggers to search for the missing 15-yearold.

It comes despite Amy’s aunt handing a letter (right) to the Spanish embassy in Ireland yesterday, revealing how she received a phone call in 2014 claiming the teenager was killed and is buried at the Mijas Hipodromo.

By Anthony Piovesan

racetrack,” a spokesperson told the Olive Press. “Once we receive a valid clue to carry on looking for Amy then we will present it to the court and a judge can make a decision about how we proceed. “At the moment we don’t have sufficient information.” Amy would have celebrated her 31st birthday yesterday (Tuesday) - having vanished from Mijas Costa on New Year’s Day in 2008.

Vandalised

DESOLATE: The derelict racecourse and how we reported the case

Christine Kenny told the Olive Press the anonymous source told her that her niece was interred ‘beneath stable block five’. However, the Guardia Civil confirmed it had still not searched the site insisting ‘the case of Amy is on hold’. “We haven’t investigated the

Andalucía now a tax haven?

The Olive Press sent a reporter to investigate the 250 hectare site.

Completely deserted, it has been badly vandalised and neglected.

The gate is open and it’s clear that many teenagers use it as a place to socialise, with hundreds of smashed

Investing

Our

Despite new demands in Ireland, police tell Olive Press ‘we need more information’ before digging up a derelict site, where missing Amy, 15, may be buried

drinks bottles and empty packets of cigarettes.

Empty crates pile up inside an old Irish pub, while dusty documents are strewn over desks inside an old veterinary clinic.

While there are no obvious signs, the derelict site is the ideal spot for criminals to bury a body, or dispose of vital evidence.

None of the stable blocks are numbered, but all of them are empty.

It would certainly make sense for police to search the site for any clues that could solve the case.

The location is just a short 10-minute drive from where Amy vanished in Riviera del Sol, sparking a long mystery

that once pointed the finger at her stepfather.

“It’s never been dug up and I would plead with the police to investigate this,”

Amy’s aunt told the Olive Press, last night.

Murder

She is urging the case to be upgraded to ‘murder’ and submitted a letter to the Spanish embassy in Dublin yesterday.

“I’m really hoping this new

missive will bring more pressure onto the Spanish authorities to act.. We want to bring Amy home for a proper burial.”

Meanwhile, Amy’s best friend Kimberley Simpson, who grew up with her on the Costa del Sol said investigating the racecourse ‘would be a good start’ in finding out what happened.

“I don’t know why they haven’t just dug it up,” the British girl told the Olive Press,

from her home in Kent this week. “She was my best friend, I miss her so much.”

Last month, another friend, Alan Quieros, a former expat who grew up in Marbella, even insisted he was prepared to come over and dig it up himself.

“It’s not like you would be disturbing any businesses, or homes, it’s a disused racetrack and we’ve been told exactly which stable she is allegedly under.”

*Data extracted from process closure surveys after using our roadside assistance and breakdown services.

PLEA: From Amy’s aunt for a new police probe

SORELY MISSED: Amy and her best friend Kim on a Malaga beach

A campaigning, community newspaper, the Olive Press represents the huge expatriate community in Spain with an estimated readership, including the websites, of more than two million people a month.

Voted top expat paper in Spain OPINION

Always ask experts

WHEN the property bubble finally burst in Spain in 2008, the fallout had far reaching effects on the economy.

Tens of thousands of people were left in negative equity as home values plunged.

Developer after developer went under, with billions of euros disappearing into a financial blackhole.

Thousands of people who had paid substantial deposits for off-plan property not yet built were left in financial limbo for years. They were out of pocket with no house to show for it. Many of them still are.

So big was the scandal that new regulations were brought in to prevent prospective home-owners from suffering the same fate again.

These included the requirement for bank guarantees to protect the deposits of purchasers, so at least they would get their money back if their property dreams were shattered. Thankfully, most developers appear to abide by this and the industry is in a far healthier state and on a far firmer foundation than it was back then.

But this is not to say that every firm is untouchable. Some clearly still go bust leaving clients, suppliers and employees in the lurch.

The full reasons why construction company Otero has seemingly shut up shop are not yet known. Nor is it known if the five-year-old company abided fully by the rules.

What we do know however is that dozens of contractors, agents and builders are owed millions of euros over unpaid bills, while an unknown number of purchasers - thought to be in the hundreds - have been left wondering if and when they will get their home completed or if they will get their cash back.

Unfortunately, among the more unscrupulous developers old habits die hard - and there are certainly still some shady firms who try to get round the rules to maximise their profit. Another recent example is Bynok, an Estepona developer, which folded last year, with the case still going through the courts.

This is why it is important to always seek competent, qualified advice from real estate professionals.

The best have been on the coast for years and know the market inside out - and more importantly know which developers to trust.

Since we broke the Otero story online, last week, several of these property professionals have told the Olive Press they refused to touch the company and would not recommend Otero to anyone.

As they told us there was clearly something ‘not quite right’. They were spot on.

PUBLISHER / EDITOR

Jon Clarke, jon@theolivepress.es

Dilip Kuner dilip@theolivepress.es

Anthony Piovesan anthony@theolivepress.es

Jo Chipchase jo@theolivepress.es

John Culatto

ADMIN Sandra Aviles Diaz (+34) 951 273 575 admin@ theolivepress.es

CHILLING OUT

in the Sierra Nevada

DESPITE the start of 2023 being unseasonably warm, the mercury plummeted in mid-January and it has stayed there with more snow forecast in the hills this week.

After a string of cold weather warnings, locals and expats alike have been deploying thick blankets, padded coats and fighting an urge to hibernate. Those of you with wood burning stoves or open fireplaces have been racing through the logs. Mountainous areas, such as the Serrania de Ronda, Axarquia and Alpujarras, frequently experience minus zero temperatures and with many expats choosing to live in the campo and frequently at altitude, there are plenty of daily challenges.

I’ll always remember a visit to Granada in

the winter in 2003 (as will many of you to Ronda) when I found the pervading cold creeping right into my bones.

So why on earth did I end up living on an isolated farm at 1,700m in the Sierra Nevada?

Charming as it is in Spring and Summer, in winter the property is above the snowline and the nighttime temperature regularly plummets to MINUS 8 degrees!

Simon Hunter simon@theolivepress.es

Alex Trelinski alex@theolivepress.es

Cristina Hodgson cristina@theolivepress.es

Walter Finch walter@theolivepress.es

OFFICE MANAGER Héctor Santaella (+34) 658 750 424 accounts@ theolivepress.es

DISTRIBUTION ENQUIRIES (+34) 951 273 575 distribution@ theolivepress.es

NEWSDESK: 0034 951 273 575

For all sales and advertising enquiries please contact 951 27 35 75

HEAD OFFICE

Carretera Nacional 340, km 144.5, Calle Espinosa 1, Edificio cc El Duque, planta primera, 29692, Sabinillas, Manilva

Deposito Legal MA: 835-2017

That’s fine with the wood burning stove in the lounge, but as soon as you venture into the bedrooms or bathroom you’re hit by an icy blast of cold, with the thin walls providing poor insulation.

Living this high can really affect your daily routine. Any water lying static overnight will freeze – including, on one recent occasion, water in the kitchen sink.

Forget your morning shower or using the washing machine when it’s minus zero. The water supply is frozen until the midday sun defrosts the outdoor pipes. It’s detrimental to personal hygiene, although some mountain dwellers will happily remain unwashed, even for a fortnight particularly as laundry ends up frozen on the washing line. And remember, if you buy butane gas, be

aware that it freezes at 0C, while propane freezes at -44C. Buy the wrong type and your gas appliances simply won’t work. I’ve been there.

Motoring is also a challenge above the snowline. To drive safely, you need a 4×4 with tyres made for tarmac and off-road. In the morning, you’ll sometimes find your car doors are frozen shut and thick frost always needs removing from the windscreen. The starter motor also might be reluctant, and batteries can suddenly die. Other dangers include black ice – this is far from fun when going downhill. There is also frequent fog.

Really chilling out

Andalucia’s coldest village is Dilar, situated at 878m on the west flank of the Sierra Nevada by the Rio Dí lar. The village has 1,500 inhabitants, called Dilareños. An unspoilt destination, without too many obvious tourists, it offers a hotel, campsite, riding stable and mountain trails. So, why is it so cold?

According to last winter’s weather statistics, the village frequently sees icy temperatures of between -9 and -12C. This is

The high life - the easy way!

To get a flavour of the High Life - Andalucian style - head up to Trevelez, the second highest village in Spain at 1,476m. It’s famed for its cured ham, as well as its ascents to Mulhacen, the Iberian peninsula’s highest peak. Trevelez residents live on the snowline and they are used to the white stuff in winter. In fact, they love it.

As mayor Adrian Gallegos told the Olive Press: “Being on the snowline is wonderful. It’s very cold but it offers a wonderful landscape and we really enjoy snowy days – especially the village children.”

When there are serious white outs, the snow ploughs arrive quickly to restore access.

Years ago, I got stuck in the Hotel Alcazaba de Buquístar, because our van couldn’t drive up the steep exit slope, which was covered in 10 cm of snow.

Eventually a snowplough arrived to liberate the trapped cars.

despite being at a medium altitude.

Rick, a Brit who has lived in Dilar for many years, and divides his time between there and sunny California, says: “It’s not a particularly high village but we had -17C one year and maybe the cold air gets pushed down into the valley.”

Yes, it’s suddenly chilly outside, but spare a thought for Olive Press journalist Jo Chipchase who lives at 1,700m, above the snow line

ICY: The pool freezes each winter

HOME: Jo lives above Cañar, while (top) her horse and garden view

The Olive Press discovers how the spectacular fall of the ‘half a billion euro’ Otero group is anything but a surprise to its beleaguered clients

By Walter Finch

IT was marketed to high-earners from Northern Europe as the opportunity to come and live the Spanish dream.

To escape the dreary weather and own a luxury villa on a coastline that gets over 300 days of sunshine a year.

Buyers who dreamt of packing their lives up and moving to the Costa del Sol were lured in with glossy promotions and slick computer-generated images of ultra-modern glass homes perched on hillsides above the sea.

Founded in 2017 with just a dozen employees, the rapid expansion of Otero Group, the company responsible for making these dreams a reality, understandably raised eyebrows.

Starting on the Costa del Sol, by 2022, they claimed to be opening developments all around Spain, including the Balearics, Madrid and Alicante, with half a billion euros under management and more than 130 employees - plus a whole constellation of suppliers and contractors.

Its owner Ruben Otero coined the slogan ‘Focus on Excellence’ and described this breakneck growth as ‘meaningful’ and ‘sustainable’. He also listed his company values as ‘transparent, agile and results-oriented.’

The problem is the recent results can only be described as poor, at best, as the company suspended all developments and looked to be heading towards bankruptcy.

An employee in its head office in Marbella told the Olive Press this week that ‘all projects had been suspended 10 days ago’.

Neither she, nor the main sales agent in the Manilva area, could explain what had happened or indeed when construction would begin again. In the words of agent Mario, is also ‘in limbo’.

Taking Manilva as a snapshot of the developments that Otero has been working on over the last few years, things are not looking rosy.

‘LIKE LIVING IN THE WILD WEST’

Dozens of units were planned overlooking Duquesa Port in a giant valley scheme dubbed by a marketing wizard as ‘the Duquesa Valley’ in 2021. Next door, came La Paloma, then Don Amaro and finally the Oceanic scheme, with its 24 stunning individual homes, each costing between €1.3 and €1.8million.

Come early 2022, Otero announced that some of the homes were finished and ready to be lived in.

But when the excited Brits, Belgians and Scandinavian buyers began to move in, the first inklings that all might not be well with Otero and its business model started to sink in.

“I don’t think there is one unit that doesn’t have an issue, be it with basements, electricity or water,” Michel Katic, 57, told the Olive Press.

The South African moved into his Don Amaro property in June after selling up his courier company in Cape Town and retiring with his wife and daughter to Manilva.

“It seemed absolutely stunning and looked like a fantastic opportunity,” he said of the ultra modern unit.

“But since arriving it’s been problem after problem.” Quite simply, the Spanish dream has turned into a nightmare. The list of problems has been endless; from a swimming pool sliding down a slope, to water seepage causing power cuts and even missing floor-to-ceiling curtains, which he insists he has paid over €5,000 for.

And it gets worse - Katic’s property is now totally overshadowed by an unfinished shell rapidly thrown up that has totally blocked his view.

“You might find this funny - but Otero sold us this villa with sea views,” he said laconically. “Now we can hardly see the sea.”

All repairs are currently coming out of his pocket, as Otero has ignored him since his final instalment.

Thinking of moving? “We actually have nowhere else to go. We sold up and moved to Spain permanently. So there’s no leaving now.”

After disaster struck last month and Otero stopped paying the contractors, in the words of one resident, the developments have ‘become like living in the Wild West.’

ENDLESS

for Michel Katich who has also lost his sea views

Alarmingly, she was so terrified of the unfolding disaster that she was too scared to meet the Olive Press despite begging us to help.

“They’ve robbed us, they’ve lied to us, they bully us - it feels like dealing with the mafia,” she said. “Two of my neighbours are so upset they feel suicidal about it.”

She revealed how over the last fortnight, she and her fellow neighbours have seen a series of shadowy figures prowling the unfinished units and abandoned construction sites. She added that she had ‘seen looting, scavenging and attempted breakins’ to the nearly finished properties.

“There are teenagers, old people and random men wandering around in our gardens - we are living in fear here.”

Yet incredibly, she claimed owners have been subject to a remarkable demand from representatives of Otero for a further €120,000 retroactively to ‘pay for an increase in the cost of building materials’.

“And they have threatened to cut off our water supply if the residents, who already have their keys, refuse to pay up,” she added.

the infinity pool, they even had the front to demand €500 just to install a socket for the television. It all meant the overall price of their villa ballooned by €110,000 above the originally-agreed price to €640,000.

And just last week they received another letter from Otero demanding a further €84,000 - ‘for building material cost increases’.

If they refused to pay up, Otero would be able to withhold their first occupancy licence which they needed to legally move in. “I hate them!” Sandra admitted near tears, as she recounted the ordeal they had gone through at the hands of Otero.

“I was sick from the stress - as were so many other people.”

Danny believes the company’s downfall was caused by selling properties too cheaply and then trying to make up for it by cutting corners on materials and workmanship.

Many of the other buyers who are facing the biggest losses were too afraid to speak to the Olive Press, or were advised against it by their lawyers.

DESERTED: An Otero site in Manilva

From front page

Marbella.

The English woman, who asked not to reveal her name, claimed to be in a group of 30 homeowners demanding action from Otero and the town hall.

Gongs to empty homes

A month later, in November, it boasted how it had won no less than eight awards at the Newbuild Awards Costa del Sol, including ‘Best Property Developer’. “We rocked,” a press release screamed above a picture of boss Ruben holding a gong.

A company Christmas message meanwhile insisted 2022 had been ‘full of successes, achievements and joys’, while on January 12 the company announced it had hired a new sales advisor, Nicholas Roberts. This week, however, an employee working in the company’s office in Marbella confirmed that ‘all projects were stopped around 10 days ago’.

“It’s a real shame and we are trying hard to solve the problems, which are tough,” she said, passing over an email for the company lawyer, who has so far refused to comment.

An agent for its Oceanic development, Mario Ballesteros, was more forthcoming.

“I’m also in limbo and have only just found out myself having been on holiday,” he told the Olive Press

But on top of that, she claims that the company has not even been paying its own water bills, but instead was illegally tapped into the communal water. Other neighbours arrived in Spain last year to find they were unable to move into their supposedly finished villas and were forced to rent apartments in

“While I’m not directly responsible I feel sad for all the buyers, but I may be out of a job too.”

He continued: “I don’t know exactly what happened but I have not seen the owner Ruben for months. I don’t know what will happen next.”

He confirmed that of the 20 buyers at the development, all of them were foreign. “Only four had not been sold.”

Manilva town hall meanwhile offered guarantees to companies affected by the defunct developments, understood to include Duquesa Valley, La Paloma and Don Amaro to enable them to finish the units.

A spokesman admitted there were ‘many victims’ but added it wanted to make the area ‘liveable’ for those who had bought.

He added the town hall would be working ‘side-byside’ with the contractors to ‘minimise’ the problems caused by Otero’s collapse.

When pressed by the Olive Press over what level of support they would offer, the town hall replied that ‘it all depends on how events unfold’.

the meantime. One couple from Belgium, Danny and Sandra have a home full of defects, from dents and scratches in appliances and to walls, as well as shoddy workmanship and even structural problems. They had been told their villa was ready in February, but when the couple arrived from Antwerp the house was nowhere near ready. They had to spend three weeks in a rented apartment at a cost of €2,000. “The compa ny reps were continually lying and that is a big problem,” claimed Danny.

After signing for the property and getting the keys, Otero kept adding new costs to the final bill.

After adding €23,000 for a kitchen, €35,000 ‘due to Coronavirus’ and then €7,000 for

One British buyer who is remaining more optimistic is Chris Morris, 35, a builder, who put down €700,000 in February 2022 for his Otero-built property in Valle Romano, in Estepona.

He insisted that because he owns the plot of land, he also owns the home on it, which is now 75% completed.

“Well it was 75% until the contractors took back the doors, the aircon, the windows, and so on,” he said. “But I don’t blame them, I would have done the same in their shoes.”

He added: “We’re in talks with the company now to try and get windows and doors put back in to keep the unit secure.”

He added that Otero will be in breach of contract if it fails to finish his property by May.

“Some people said Ruben Otero (left) had fled to Venezuela with all our cash, but my architect - who’s been very helpful - said he saw him in a restaurant in Marbella on Saturday An experienced constructor back in the UK, his advice to fellow buyers is sim“No one has lost their money yet. Until it’s final, don’t dwell on it. Just keep

The Olive Press had not received any comment from Otero despite regular requests from its lawyer David Sanchez, based in Malaga.

PROBLEMS:

‘I was sick from all the stress - as were so many other people’

Watts of anger

FURIOUS Ronda residents have protested against CEPSA’s plans to install a solar farm the size of 150 football pitches in the Serrania de Ronda.

The green campaigners united outside Hotel NH Malaga and chanted ‘renewals yes, but not this way’, as executives from the oil giant revealed the plans for the mega-project.

The proposal, which has an investment of €62 million, includes a solar farm north of the Roman ruins of Acinipo, and would have an estimated power of 100 megawatts.

Despite the grand scale of the plans CEPSA said it was ‘not a mega-project’ and would produce clean energy to supply 64,000 homes and contribute to the elimination of 84 million tons of CO2 emissions per year.

British expatriate Lisa Ruddock, who runs hotel La Cazalla in the mountains outside Ronda, said the project was ‘unthinkable’.

“We bought it because here we are completely surrounded by nature - you don't see a single other property, power line or

Sticky situation

CLIMATE activists glued themselves to the microphones at the lectern in the Congress of Deputies.

It was the latest protest by a group called Futuro Vegetal (Vegetable Future) to demand action to save the environment. Members had staged a similar protest in November when they glued their hands to the frames of two Goya paintings in Madrid’s Prado Museum. ‘This is a climate emergency!’ the group said in a tweet announcing the demonstration.

By Anthony Piovesan

wind generator,” she told the Olive Press

“To imagine that will be destroyed by these power lines is completely mad and insensitive.”

Ronda resident Pablo Lopez added the project would tarnish the reputation of the UNESCO world heritage city of Ronda.

“Ronda is not in need of this

project,” he said. “Renewals are important, but not here - it will degrade the landscape, damage farm land and business in the tourism industry.” But CEPSA said the project would be ‘fully compatible’

WHEN it comes to environmental news there are always surprises. Sadly some are not pleasant.

Shell, the oil and gas giant, last week reported outrageous annual profits of $39.9 billion in 2022.

These figures are the highest ever recorded in Shell’s 115 years of existence.

Quite frankly this corporate greed leaves me feeling sick.

Energy prices soared following Russia’s invasion of Ukraine.

Meanwhile households struggle with escalating prices and are having to make some very difficult choices.

with tourism. “We have listened to the citizens and we have reoriented the project to preserve the view of the Tajo de Ronda and to achieve the best integration with the environment,” a spokesperson said.

Shell shocked!

Heat your home or eat? Scandalous Governments have talked about levying windfall taxes. This at first sight seems a sensible approach……. until you look at how small these taxes are.

The UK government billed Shell a windfall tax in 2022 of $134 million.

How does that sit with profits of $39.9 billion?

Laughable

And it gets worse when you peel back the layers. Shell is a UK headquartered company. It pays more to its shareholders than it spends on renewable investments. How can that be right?

In the UK, Prime Minister, Rishi Sunak and Chancellor Jeremy Hunt both indicated that there are no plans to increase windfall tax .

And they allow corporate giants like Shell to consistently avoid paying tax. They allow them to offset against taxable profits things like decommissioning North Sea oil platforms. They should be taxed for lack of investment in renewable solutions…particularly wind and solar.

It’s criminal that fossil fuel companies making bumper profits are let off the hook.

Green projects boost economic growth

Not only is investing in renewable technologies the right moral choice, it makes economic sense. The CBI released a report last week claiming that 840,000 jobs have been created through investment in the fight to curb greenhouse gas emissions.

And that’s just in the UK.

PROFIT: Billions have poured in

I’m not the biggest fan of Liberal Democrat leader Ed Davey, but he nailed it last week when he declared ‘No company should be making these kind of outrageous profits out of Putin’s illegal invasion of Ukraine’.

In America, landmark legislation called the Inflation Reduction Act has set aside $369 billion to tackle climate change.

It’s about time Spain and other so-called developed countries got their finger out.

Green Matters By Martin Tye

NO PLANS: From Sunak and Hunt to raise tax

Demonstrators take to the streets of Malaga to protest against a huge plan for a solar farm

DEMO: Protestors, including Lisa Ruddock (far left)

roperty

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

See page 16

INSIDE OUT

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

See page 6

BUILDING GOLD MINES

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

According to the official appraisal company the Sociedad de Tasacion

By Alex Trelinski

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

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

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

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

Malaga took the honours as the provincial capital where new housing

New builds soar inpricewiththe biggestincrease since 2007

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

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

or equal to that registered in 2019.”

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

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

SUNNY YEAR AHEAD

Welcome from publisher Jon Clarke

THE property market really took off in 2022.

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

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

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

It’s the same for Winkworth, Terra Meridiana and others.

But what is encouraging is that while some countries in Europe (Holland and Scandinavia in particular) appear to have strong economic headwinds affecting their local property markets, Spain is likely to weather the storm.

Prices are only now reaching the levels of 2007 in most areas, and interest rates are peaking, while the demand is still strong from the dozens of foreign markets who still aspire to live or buy here.

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

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

IT’S the definitive golden dynamo of southern Spain.

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

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

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

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

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

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

Boob job stops squatter eviction

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

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

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

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

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

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

Luxury Larios

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

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

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

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

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

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

Bargainbasement

cheapestspotinMalaga

By Dilip Kuner

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

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

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

About 3,400 people live in what was

BLOOMING LOVELY

MARBELLA is taking a leaf out of neighbouring Estepona by installing 500 colourful flower pots in one of its districts. Estepona (left) has garnered international attention in recent years after branding itself the ‘garden city’ and installing thousands of plant pots in parks and around the old town streets. Now Marbella is sprucing up the El Barrio district with 500 blue flowerpots in a bid to give the area a typical Andalucian feel.

SPAIN’S deputy prime minister, Yolanda Diaz, has called on banks to freeze mortgage interest rate rises after one of the country’s lenders announced record earnings.

BBVA, which is Spain’s second-biggest bank, showed a 38% increase in net profits, which came in at an all-time high of €6.42 billion in 2022. This was partly due to a double-digit rise in lending income, as well as the bank’s performance in Mexico, which accounted for more than 60% of the lender’s net earnings.

The figures came just a day after the Euribor interest rate, the benchmark used for the calculation of most mortgages in Spain, hit 3.337%, the highest level since December 2008.

Writing on Twitter, Yolanda Diaz, of Unidas Podemos, said that the current cost-of-living crisis ‘cannot be an excuse to earn more’.

“While the rise of the Euribor will make the average mortgage €250 a month more expensive, BBVA’s profits have grown 38%,” she continued.

CASH IN

AN Andalucian town is giving an ‘aid’ package of €750 to families in an attempt to avoid depopulation.

once a lively community but has now declined due to the closure of a large quarry which used to provide significant employment.

While €562/sqm may seem a more than fair price, it is still way more than the

Helpforyoungbuyers

ANYONE under 35 taking out mortgages in Andalucia could soon benefit from a 15% guarantee from the Junta. The regional government says this will allow banks to offer mortgages of up to 95% of the property value. This would mean young would-be owners will have a chance to get on the property ladder without needing the typical 20% deposit required at present. The Junta will not hand out cash as a grant, but will back 15% of the loan with public funds.

No money changes hands and the full sum of the mortgage will still have to be paid by the property owner. Final legal issues are being resolved at present, with it hoped to introduce the scheme in the coming months. If successful, under 40s may be able to apply in the future too.

bargain basement €284p/sqm properties found in Alcaudete de la Jara, in Toledo, the cheapest municipality in Spain. The average price in Malaga province was €2,787p/sqm in December, although the average in Malaga city was slightly lower, at € 2,346/sqm, according to property portal Idealista.

Other Malaga municipalities with bargain properties are:

● Teba (€577 p/sqm)

● Alameda (€579 p/sqm)

● Villanueva de Algaidas (€598p/ sqm)

● Humilladero (€661 p/sqm)

● Campillos (€680 p/sqm)

● Archidona (€690 p/sqm)

● Almachar (€717p/sqm)

● Fuente de Piedra (€784 p/sqm)

● Mollina (€787 p/sqm)

Canillas de Aceituno in the Axarquia is giving the cash to families that have lived permanently in the village for at least a year.

Digital future

SPAIN is hoping to attract more British women with digital nomad visas and tax perks this year.

The country wants to attract female entrepreneurs because the country is widely viewed as a safe place to live for women. A digital nomad’s visa and tax concessions for start-up companies in Spain are coming into force as part of a new start-up law. “We don’t want digital nomads, we want residents,” said Digitalisation Minister Carme Artigas.. “Our hope is that the nomad visa is very attractive but then they stay in our country and put down roots.” Some 22% of Spain’s economy is digital-based, with start-up hubs growing.

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

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

Indoors, outdoors

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

A LITTLE GAUDI GLORY

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

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

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

Findyourparadise

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

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

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

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

YOUR PROPERTY DESERVES THE BEST

SHOWCASE IT IN OUR BRAND NEW OFFICES IN LA CALA

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

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

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

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

CONTACT US NOW FOR A FREE VALUATION

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

Contact us for a free valuation of your property today.

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

By Dilip Kuner

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

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

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

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

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

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

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

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

Casa Vicens is a prime example of the Catalan Modernisme style inside and

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

SELLING ON MIJAS COSTA?

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BUYING – SELLING - RENTING

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

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

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DOOM OR BOOM?

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

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

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

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

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

Should we be optimistic or pessimistic?

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

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

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

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

by raising the cost of borrowing.

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

THE CASE OF SWEDEN

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The Property Insider

by Adam Neale

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

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

SOME SPANISH SUNSHINE

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

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

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

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

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

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

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

Optimistic

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

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

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

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

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LOOKING FORWARD

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

QDid house prices go up or down in 2022?

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

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

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

APeople are looking to buy inland as prices on the coast are so high, and for that reason they’re looking to get a property with outdoor space.

We specialise mainly in country properties in the Guadalhorce Valley - although we sell all types of property - and we’ve seen booming demand.

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

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

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

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

Albarracin, Teruel Height: 1,182 Population: 1,054

GETTING HIGH

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

enemy invasions.

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

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

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

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

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

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

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

info@mediterraneanhomes.eu

www.mediterraneanhomes.eu

+34 951 242 157

Bronchales, Teruel Height: 1,575

Population: 480

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

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

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

Navarredonda de Gredos, Avila

Meranges, Girona

Height: 1,539m

Population: 91

Gudar, Teruel

Height: 1,588m

Population: 73

LOOKING FROM OVERSEAS

The latest property news from BM Sotogrande

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

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

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

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

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

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

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

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

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

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

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

Navadijos, Avila

Height: 1,520m

Population: 41

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

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

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

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

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

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

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

Cooper, who retired from professional ice

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

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

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

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

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

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

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

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

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

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

Marbella’s old sugar factory to be restored

By Dilip Kuner

demand for sugar.

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

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

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

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

Reception

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

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

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

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

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

Andalucia Country

Andalucia Country Houses Estate

Andalucia Country Houses

Montejaque, Serrania de Ronda

Montejaque, Serrania de Ronda

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

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

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

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

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

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

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

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

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

Always at your service!

We are always looking for new listings

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

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

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

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

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

ref: ACHK796 – 595.000€

ref: ACHK796 – 595.000€

ref: ACHK796 – 595.000€

Cañada del Real Tesoro

Cañada del Real Tesoro

del Real Tesoro

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

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

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

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

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

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

ref: ACH113 – 120.000€

ref: ACH113 – 120.000€

ref: ACH113 – 120.000€

Cañada

Montejaque, Serrania de Ronda

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

Always at your service!

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

Ref: L001 – 265.000 €

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

Ref: 198 – 325.000 €

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

Ref: L009 – 520.000 €

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

Ref: 052 – 425.000 €

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

Ref: 148 – 215.000 €

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

Ref: 069 – 395.000 €

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

Ref: L002 –335.000 €

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

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

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

TEL: 952 664 966 INFO@IMPERIALESTATE.COM

WWW.IMPERIALESTATE.COM

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

ALHAURIN EL GRANDE

FUENGIROLA CENTRE

FUENGIROLA, TORREBLANCA

LAS LAGUNAS, MIJAS AREA

FUENGIROLA CENTRE

FUENGIROLA CENTRE

MIJAS COSTA

NIGHT SALE National roundup

Foreign domination

Night Manager estate soldbyBritishlord for massive €62m

By Alex Trelinski

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

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

public.

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

The 350-year-old estate was de-

No Brits allowed

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

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

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

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

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

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

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

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

SELLING OR BUYING?

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

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

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

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

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

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

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

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

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

STAR: Hugh Laurie filmed at the estate

EXCEPTIONAL SERVICE FROM US TO YOU.

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

by mortgage broker Tancrede de Pola

RISING RATES

Euribor hits highest level since 2008

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

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

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

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

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

Last year saw the central lender raise rates

BUILDING FOR THE

By Nadia McDonald

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

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

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

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

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

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

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

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

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

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

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

STEEP RISE: Around €286 a month more

BUYING OFF-PLAN? YOU BETTER READ THIS

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

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

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

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

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

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

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

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

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

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

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

in Estepona and we are at www.thespanishestateagent.com

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

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

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

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

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

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

“Sure

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

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

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

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

“So many more people are living

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

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

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

ed claims.

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

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

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

“We had 675 listings in March

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

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

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

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

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

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

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

GOLDEN SANDS: are just a short step away

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

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

nearby Zagaleta.

the prices are lower, but today

SUN FINALLY WON

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

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

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

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

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

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

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

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

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

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

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

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

GREAT GIZMO

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

GREEN BOOST

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

climate

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

ago, from its headquarters in Marbella.

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

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

difference to the future of our planet.”

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

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

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

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

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

The secret is out!

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

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

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

And why?

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

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

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

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

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

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

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

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

Head Start!

Swedish

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

A

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

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

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

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

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

Q Have you travelled much of the world?

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

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

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

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

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

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

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

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

Surrounded by golf

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

Modern design

Private gym and spa

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

Huge saltwater pool with beach entry

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

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

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

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

QWhat about back home here at weekends?

WHAT QUALIFICATIONS DOES AN AGENT NEED IN SPAIN?

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

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

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

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

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

Q How would you attempt to improve the situation?

THE SOLUTION

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Trophy hunt

A DISCOVERY in a Spanish cave suggests that Neanderthals collected trophies. That’s according to a study published this week in the magazine Nature Human Behaviour.

Researchers from Spain’s CSIC public research institute found a total of 35 horned skulls from large herbivores on the site in Madrid’s Pinilla del Valle.

They believe that the bones served as trophies, something that would, for the first time, prove that these primates had the capacity for symbolic actions.

This kind of intelligence had, until now, been attributed only to humans.

“There is nothing like this in the world, it’s exceptional,” the coauthor of the study, paleoanthropologist Juan Luis Arsuaga, said.

QUITE A FIND

AI discovers unknown play by Spanish master

ARTIFICIAL Intelligence (AI) has unearthed a previously unknown comedy penned by one of Spain’s greatest writers, Felix Lope de Vega. AI was being used by researchers to transcribe 1,300 uncredited manuscripts and books at the library to save many years of human work. Another aim was to find out the authors by checking each work against a selection of words used by different writers.

After a year of verification, it

THREE small towns in the Spanish Pyrenees have staged the ancient festival of Joaldunak to ward off evil spirits and to waken up the ‘forthcoming spring’. The celebration is held on the last Monday and Tuesday of January in Ituren, Zubieta, and Lantz and is recognised by UNESCO as

an invaluable part of Europe's cultural heritage. The event is believed to be con-

By Alex Trelinski

has been confirmed that an uncredited manuscript was a Lope de Vega work called La Francesca Laura (Frenchwoman Laura) - written some five or six years before his death in 1635. One of the people involved in the AI project, German Vega from Valladolid University, said that it was not an original Lope de Vega manuscript, but a copy - perhaps even of the

Spring beckoned

nected to the ancient rites of changing the seasonal cycle and celebrating the winter solstice. Bell wearers, or Joaldunak, as they are known in Basque, dressed up in thick sheepskins and tall colourful hats, clanging large cowbells tied to their backs to scare away the bad spirits and the witches.

A shepherd holding the chains of a huge carnival ‘bear’ with ram-horn ears accompanied the Joaldunak on their march, taking swipes at the crowd and ordering the sea of monsters to step aside to let them pass.

OP QUICK CROSSWORD

original.

It also had notes for theatre companies intending to put

Back home

TWO 15th century paintings looted from Poland during World War II that ended up in Galicia, have been returned after 79 years.

They were on display at Pontevedra Museum following the 1994 purchase of an art collection owned by collector Jose Fernandez Lopez.

Pontevedra Provincial Council vice-president, Cesar Mosquera, said: “We’re helping to restore an injustice, helping to restore plundered art, helping in whatever way we can to make the world a better place.”

Stolen

FESTIVAL: Villagers celebrate

on the play.

The manuscript has been in the National Library since 1886 and had classified it as an ‘anonymous comedy’. The library said the words used in the text were ‘closely aligned with Lope’s, and not with those of the other 350 playwrights who were part of the AI experiment’.

Mature

Experts then used traditional research resources to corroborate the findings.

“La Francesa Laura is a remarkable play, with the dramatic force expected of a mature Lope de Vega,” the library said.

Mosquera and a Polish government representative signed a formal restitution agreement last month.

The works - Mater Dolorosa and Ecce Homo (below) - were part of the 700 piece Czartoryski collection stolen by Nazi forces from the Polish village of Goluchow.

Across

1 Spotted (7)

5 La Scala cry (5)

8 Basra native, perhaps (5)

9 Type of pasty (7)

10 Energetic (7)

12 Bristles (4)

14 Conclusion (3)

16 Puzzling Tower of --- (5)

18 Sticky substance (3)

19 Froth (4)

21 Dixie city (7)

24 Marsh marigold (7)

26 Boredom (5)

27 Part of a cake mixed early (5)

28 Family line (7)

Down

1 Superficial (4-4)

2 Small hard particle (5)

3 Victory (7)

4 Sawbones (3)

5 Inception (5)

6 Permanent (7)

7 Hawaiian island (4)

11 Cuban dance (5)

13 Solitary juggler supports the King (8)

15 Portal (7)

17 Ailment (7)

20 Grinder (5)

22 Present time (5)

23 Dieter’s measure (4)

25 Cushion (3)

Fuengirola Marbella Plaza de las Orquídeas, Calle Orquídea, Local 5, Nueva Andalucia, Marbella, 29660, Spain +34 952 906 581 marbella@currenciesdirect.com

Avda. Alcalde Clemente Díaz Ruiz s/n Urb. Puebla Lucia, Edificio Leo Local 1, Fuengirola, 29640, Spain +34 952 906 581 fuengirola@currenciesdirect.com

All solutions are on page 12

906 581 nerja@currenciesdirect.com

Mojacar Avenida Mediterráneo 341, Mojácar (Almería), 04638, Spain +34 950 478 914 mojacar@currenciesdirect.com

Benalmadena Avenida Antonio Machado, Edificio Diana I Local 13, Benalmádena Costa, Málaga, 29630, Spain +34 952 90 65 81 benalmadena@currenciesdirect.com

atelier vintage

Up-cycled furniture in the heart of Capileira, where old is new again! New colours, new textures, new life, new look!

Blossoming slopes

Boutique de moda, complementos y regalitos

ON the verdant slopes of the Alpujarra, the snow might be there now, but when it melts it supports an oasis of blossom and flowers – growing wild and cultivated. These pictures show the floral tapestry of the beautiful area including the cherry blossoms and orchids that grace the region in just a couple of months.

SPRINGTIME LOOKS

This season muted colours and pastels will be teamed with creams and beiges

THE changing of the seasons from winter to spring is a most exciting time of the year. In come lighter layers, dresses, and colour. Out go the heavy outerwear, knits, and boots. When it comes to the spring 2023 trends, there’s a lot to anticipate.

As noted by Vogue’s trend report, the collections reflect many moods: from soft and comfy (think lots of jersey, draping and distressed fabrics) to a more utilitarian style with pocketed cargo pants, jackets, and simple cuts.

It’s a tricky time of year for dressing, with chilly mornings combined with warm afternoons. As always,

layering is vital, but we can start to layer less and enjoy more as days become longer and the almond flowers start to blossom.

Once again, this season, we see lots of muted colours and pastels teamed with creams and beiges. Fine knits are still essential at this time of year, so choose shades of mint, dusty pink, and lilac to keep it fresh and reflect those spring blooms.

Looking to keep wearing some of your darker pieces on the remaining cold days? Choose accents with hot, bright colours, nodding to the optimism of summer.

A big trend this season is the deep purple of our beloved bougainvillaea flower, as well as all shades of teal and turquoise, both of which look fabulous teamed with navy or grey. Think indigo jeans teamed with a bright blouse or a turquoise cardigan to cover warm shoulders on chilly spring evenings. Footwear is still closed

toes, of course! We can dare to bare our ankles when the sun is shining, so opt for simple loafers or ankle boots in lighter colours, or cutaway styles to finish off your midseason outfit nicely.

FASHION with Freya

PIC CREDIT: JARDIN DE LA ALPUJARRA and (inset left) NEVADENSIS

FOOD,DRINK & TRAVEL

Looking West

BRITISH airline Jet2.com has announced a new flight route between the UK and the Costa del Sol.

Starting this summer, the carrier will fly direct four times a week between Malaga airport and Bristol.

The company’s chief executive Steve Heapy said he was optimistic about the continuing demand for travel in 2023.

“The forecasts for this summer in Spain are for an additional growth of 4% compared to 2022,” he said. The airline now offers flights from Malaga to Leeds-Bradford, Manchester, Newcastle, Birmingham, London Stansted, East Midlands, Belfast, Edinburgh, Glasgow and Bristol.

Uniting MA with NY

TICKETS for United Airlines’ new direct flight from Malaga to New York are now on sale on its website and via travel agents.

In the first week of June, the North American airline will begin to travel from the capital of the Costa del Sol to the Big Apple, with air fares starting at an average of €620.

Marbs best Sarnie

THE 10th Snack Competition jury at Madrid Fusion gastronomy summit have voted a sandwich, lovingly prepared in Marbella, to be the best in Spain.

Ingredients include beer bread in addition to pickled partridge, oregano paste, ham, mustard seeds, IPA beer, sugar, red wine, leeks, seasonal mushrooms, mustard leaves and radishes.

Chef Javier Ruiz Portillo from the El Parque de la Milla restaurant pocketed €1,500 in prize money for his creation.

FLOCKING IN

International tourist trade up 130% in a year

THE number of tourists visiting Spain rebounded by 130% to 71.6 million in 2022, compared to the previous Covidhit year.

According to the Spanish statistics office (INE) the strong recovery was still not enough to match pre-Covid 2019, remaining 14% down.

On the map

By Dilip Kuner

ANTEQUERA’S new railway station is finally operational . Passengers can now choose between 22 daily trains that will link Antequera town centre to the AVE and Avant networks across Spain.

This was despite a strong recovery in the first half of the year, with foreign visitors at 92% of their pre-Covid level by July. But the recovery dipped in the second half of the year, possibly due to high inflation and energy prices hitting spending power. On the other hand, domestic tourism has recovered much faster, throwing a lifeline to the industry. Tourism industry body Exceltur’s Tourism Outlook report said the sector’s GDP reached €159 billion in 2022 - up 1.4% on the previous year and 4.7% on 2018.

Eight AVE trains will pass through Antequera AV station every day: six on the Granada-Madrid route and two between Granada and Barcelona, which will improve connections between the Malaga town and other cities such as Madrid, Barcelona, Zaragoza, Lleida and Tarragona.

BACK TO ITS ROOTS!

El Lago’s Terra menu is a sustainable tour of the very best produce the Costa del Sol can offer. Going back to its Slow Food Movement roots, the Marbella restaurant is working with over a dozen local producers from around Malaga.

The KM-zero local and seasonal concept is anything but new for the Michelin-starred joint… It was the first restaurant in Andalucia to be awarded the KM0 accolade.

Now, it is working with growers from the Axarquia, Guadalhorce Valley and Ronda region to put the ‘best of the best on your plate’ explains chef Fernando Villasclaras. “This region is blessed with many of the best ingredients in the world thanks to its climate,” the chef, from Nerja, told me. As well as radishes from Estepona, he uses artichokes from Alhaurin and aubergines from Coin in his amazing new menu degustacion.

Each is carefully cooked and served in a creative way, alongside a glass of local wine from Granada, Ronda or Jerez, if you opt for the ‘ maridaje ’ pairing.

The real highlight though is the ‘ Gargouillou ’ invented by French chef Michel Bras, an amazing melange of 27 different blanched vegetables served as a (sort of) soup.

At El Lago, which has held its Michelin star since 2005, Villasclaras serves it in a chilled lettuce broth, which is delicious.

Other highlights are the courgette cooked in Payoyo goats cheese with the ‘nector’ of onion and grilled rocket, while the sweet potato pudding with muscatel grapes and sugarcane honey from Frigiliana was to die for.

TUMMY TROUBLE

A MADRID restaurant that is famed for its Spanish omelettes has been forced to temporarily close after around 30 patrons got sick with salmonella.

Casa Dani, which is located in the city’s upscale Salamanca neighbourhood, has been open for more than 30 years and is said to sell more than 100,000 tortillas de patatas every year. But unlucky customers who sampled the star dish have reported suffering gastroenteritis and fevers after consuming omelettes that were reportedly not fit for consumption.

Strike threat

with supplies due to the war in Ukraine, as well as the Omicron Covid variant, but that from April there was a travel recovery, especially in the leisure, meetings and congresses sectors.

Inflation

AIR NOSTRUM pilots have voted 92% in favour of indefinite strike action in their on-going pay row.

The decision follows seven days of strikes over the Christmas and New Year period.

The report added that 61% of economic growth in Spain last year was down to tourism.

Exceltur said the first quarter of 2022 was marked by higher energy prices and problems

The body believes that accumulated demand and the desire to travel have overcome the adverse effects on personal income caused by inflation. The report pointed out that a big increase in domestic tourism activity boosted the sector.

Pilots union Sepla said it was a response to Air Nostrum's ‘immovable’ position in preventing negotiations to sign a new agreement ‘that sets fair working conditions and wages for workers’.

Air Nostrum said that if it caved in to Sepla's ‘exorbitant’ requests for a 30% salary hike over two years, the firm’s financial viability would be threatened.

The so-called Montblanc finale (above), was a true surprise looking like a classic pasta dish but was really a poached pear served in chestnut cream, orange jam and meringue. Villasclaras shows real maturity for a chef in his early 30s, but his stints at Dinner under Heston Blumenthal in London, as well as with Spain’s genius Andoni Luis Aduriz, at Mug aritz, really helped his development.

“More than anything I am going back as close to El La go’s roots as possible with the Slow Food concept,” he explains.

“I have a great, young team, including a Serbian sous chef, and we hope to do great things in 2023.”

Meanwhile, there is a more meaty and fish-lad en one called ‘ Sazon ’, as well as a normal A la carte, restaurant PR Roberta Panelli, explained.

The linguist from Turin, who moved over two years ago to take over the reins from her mother, said: “We all work together and I’m learning so much every day. This is my family now.”

As well as a superb, detailed wine list that counts well over 100 listings from around Andalucia (35 from Ronda alone), there are plenty of fascinating rarities. My top tip is the remarkable Ximenez-Spinola PX, from Sanlucar, near Jerez, a nutty, sweet, but remarkable light in strength (12.5%) chestnut.

El Lago is based on Greenlife Golf Course, in El viria, near Marbella. It is open from midday.

www.restauranteellago.com

Vegetarian heaven as leading Michelin star joint in Marbella heads back to KM0 menu, writes Jon Clarke

LOCAL LAD: And Villasclaras is thinking locally with mostly local ingredients

FOOD,DRINK & TRAVEL

Food of love

HONEY

ONE of the things that makes people fall in love with Spain is the food. The Mediterranean diet, rich in fish and seafood, nuts and fruit, is famously good for the heart.

And not only the heart: the diet is full of ingredients known for their aphrodisiac properties.

With a very important date coming up (February 14, in case you forget), a dinner date should prove a win-win situation.

These foods provide both psychological and physical stimulation because they trigger an increase in the release of serotonin, the socalled happiness hormone. The practice of using food to increase sexual desire dates back to the 4th century BC and takes its name from the Greek goddess Aphrodite. Aphrodisiac foods aren’t always as exotic as ginseng. You might already consume them on a daily basis and not even realise.

THOUGH you might need to eat half a jar to get the effect, honey contains boron, vitamin B, and nitric oxide, all of which are good for stamina.

In addition, nitric oxide is released in the blood during arousal and helps men achieve erections, while vitamin B is said to stimulate hormones associated with sexual desire. Some men even use honey as a natural treatment for premature ejaculation. Anyway, get sensual and creative this Valentine’s day by finding something that’s packed full of honey (but perhaps not a hive).

CHOCOLATE

entine’s Day with chocolate?

Well, chocolate is quite effective in increasing serotonin levels and libido, especially in women. Cocoa beans contain phenylalanine and theobromine, chemicals that help blood circulation and lung function, and they combat fatigue as well, making this a powerful and useful aphrodisiac. Give your partner a big box of chocolates this Valentine’s Day and enjoy the results.

AVOCADO

OYSTERS

AS our brains already assume oysters are an aphrodisiac, we get a double stimulation, psychological and physical, as soon as they appear on the table.

In addition, the high protein and zinc content helps to improve sperm production in men and lubrication in women. It is a food that provides a great energy boost, guaranteeing good performance and sexual drive – as long as they’re fresh.

THE potassium the fruit contains is tied up with the body’s capacity for producing sexual hormones, and is more effective in increasing sexual desire in men than women. It’s also one of the oldest aphrodisiac foods in the book – indeed, it predates books. Surprise your partner with an avocado cocktail; the result should please the eye and stimulate the imagination (and more).

CINNAMON

THE only natural aphrodisiac recognised as such by medical science, the spice is known to stimulate blood flow, especially in the abdominal area of the body. This improves blood sup-

ply to the genitalia, resulting in sexual arousal.

Generally, if your partner goes to make a cup of tea during sex it’s not a promising sign. But if it’s cinnamon tea, don’t lose hope: even inhaling its steamy aroma is said to combat loss of sexual desire.

In men, like most things on the list, cinnamon helps achieve and maintain an erection.

CHICKPEAS

RED WINE

FIGS

APPARENTLY the insides of figs bear some resemblance to a female reproductive organ, and this exciting thought has, through the ages, proved very arousing.

However, it’s probably the high beta-carotene content involved in the production of sex hormones which gives figs their aphrodisiac properties.

The high sugar content makes figs a good source of energy if you are planning a long night.

NUMEROUS investigations have been carried out to discover the link between red wine and sexual desire.

The main reason red wine seems to increase sex drive is that it helps ramp up blood circulation. But also worth a mention is the fact it contains alcohol.

UNLIKELY as it sounds, chickpeas can also be a powerful aphrodisiac and a very suggestive dish. But they need to be prepared properly – go for hummus rather than a winter stew. Being spreadable, a bowl of hummus is perfect for kicking off some spicy games (or eating with celery).

The greatest known disinhibitor, alcohol stimulates the part of the brain where the controls for inhibition and relaxation are kept.

BANANAS

DOES the shape of a banana really act as an aphrodisiac because it bears a passing resemblance to a male reproductive organ? Apparently so. Try it. The more scientific justification for bringing a banana out on Valentine’s Day is that it’s packed with potassium, vitamin B, bufotenin and magnesium, all of which help do something to the brain’s neurotransmitters that ignites libido – especially in men.

As Valentine’s Day approaches, we provide the perfect ingredients for a very romantic dinner

INFLATION rose to 5.8% across Spain in January, much above the market forecast.

The preliminary figure was up from 5.7% in December 2022, a 13-month low, as fuel price hikes accelerated in January. Meanwhile, clothing, footwear and electricity prices decreased from a year ago. The market estimate was at 4.9% year-on-year in January's consumer prices.

On a monthly basis, Spain's consumer price index (CPI) fell 0.3% in January, following a 0.2% rise last December. A further cooling in energy inflation, on the other hand, put some downward pressure on the 5.8% figure.

Twitter shakedown

TWITTER is planning on sacking more than 80% of its workforce in Spain.

But the Elon Musk-inspired shakedown is not as bad as it seems, as the social media company only employs 29 people in the company.

This means that around 24 staff will be leaving on the conditions that the social network has offered. Staff will receive 33 days of pay for each year worked.

OFF THE DOLE

Nearly 80,000 fewer registered as unemployed at end of 2022

THE jobless total fell by 79,900 people in 2022 - a decrease of 2.6% on the year before.

Over the same period,

278,900 jobs were created – an increase of 1.4% on the previous year – most of which were taken up by foreign workers. Both of these figures were an improvement on 2020, the year that the coronavirus pandemic hit and dealt a severe shock to the Spanish economy, according to the National Statistics Institute (INE).

That year saw the worst figures for unemployment

By Simon Hunter

since 2012, when the country was being rocked by the consequences of the global financial crisis and the bursting of the property bubble.

Global

But the latest data is a far cry from 2021, when 840,700 jobs were created and unemployment fell by 600,000 people.

At the end of 2022, the unemployment rate was at 12.87%, just 0.4 percent -

age points below the figure in 2021 but the lowest endof-year figure since 2007. Just over three million Spaniards were out of work at the end of last year, with

MINIMUM WAGE BOOST

THE minimum wage in Spain will be going up from €14,000 a year to €15,120, a rise of 8%.

Assuming a worker receives 14 payments over the year, which was once the norm for most Spanish salaries, that is an extra €80 a month for someone working a 40 hour week.

The measure will be retroactive, meaning

that anyone receiving minimum wage will be paid extra for the month of January. The secretary general of Spain’s CCOO union, Unai Sordo, said that 2.5 million people will benefit from the measure. In particular, female workers, young people, temporary employees and those in the service and agriculture sectors will be better off.

20,463,900 people employed.

The Economic Affairs Ministry stated that job creation slowed in the last quarter of 2022 ‘in line with the slowdown of the global economy’.

Control

The INE figures also showed that the number of home workers fell by 1.7 million in the last quarter of 2022 compared to the same period the year before, as employers encouraged staff back to the office now that the coronavirus pandemic is seemingly under control.

FOOD delivery giant Glovo has announced layoffs which will affect 6% of its staff.

The cuts come amid a huge €56.7 million fine by the Spanish government for violating employment laws. That was on top of a €79m fine in September 2022 for violations of labour law. Some 250 people will lose their jobs, with the recruitment and data departments in the Barcelona HQ being most affected. NEW freelancers in Spain got a nasty surprise when they were charged an extra €220 by the Social Security system. Some 8,000 new autonomos were charged the full rate of nearly €300 instead of the reduced charge that they should have enjoyed of €80.

The government has pledged to refund the cash in March.

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OP Puzzle solutions

Quick Crossword

Across: 1 Sighted, 5 Bravo, 8 Iraqi, 9 Cornish, 10 Dynamic, 12 Hair, 14 End, 16 Hanoi, 18 Goo, 19 Foam, 21 Atlanta, 24 Cowslip, 26 Ennui, 27 Layer, 28 Descent

Down: 1 Skin-deep, 2 Grain, 3 Triumph, 4 Doc, 5 Birth, 6 Abiding, 7 Oahu, 11 Conga, 13 Royalist, 15 Doorway, 17 Illness, 20 Molar, 22 Nonce, 23 Kcal, 25 Pad

HATE CRIME

A PUBLIC prosecutor in Valencia is seeking a twoand-a-half-year jail term for a man who blamed the LGBTQ+ community for being the origin of the monkeypox virus.

The man is facing charges of a hate crime, and could also be forced to pay a fine of €3,600 if eventually found guilty.

The case dates back to May 2022, when the accused published an article titled ‘El Chueca Virus-22’, in reference to the well-known gay quarter of Madrid.

In the text on a far-right website, the author said that the LGBTQ+ community was the origin of the virus and used a series of offensive expressions.

HEARTY EATING

How the Mediterranean diet helps Spaniards live so long

NUTRIENTS and chemicals in the Mediterranean diet drastically improve heart and lung health, according to a new study.

And it could be the reason behind Spain’s rich history of people

By Anthony Piovesan

person. The Food Research International study looked at elderly Mediterraneans and how certain substances called microbial phenolic metabolites (MPM) in a diet involving a high intake of nuts, legumes, fruits, vegetables, extra virgin olive oil, and moderate quantities of wine was linked to improved cardiovascular health.

In Spain, 7,447 participants were recruited

SPANISH pharmacies have reported long delays in hundreds of different kinds of medication as Europe grapples with a drug shortage.

Spanish pharmacies had a hard time supplying 403 different types of drugs last year, including for cardiovascular, neuromuscular, digestive, and respiratory diseases, according to the General Pharmaceutical Council of Spain (GPCS).

The problem is 150% worse now than it was in 2021, the Madrid-based council said, as procuring those drugs takes up to four to five weeks longer than it once did.

GPCS Director Antonio Blanes Jimenez said the drug shortage problem had been felt since 2019.

"The situation had improved during the pan-

Waiting game

demic and grew worse again in 2022," he said. Limitations placed by China and India on the export of raw materials needed for drug production and shipment and output-related problems caused by the Russia-Ukraine war were the main drivers of the shortage.

Calm

Also pointing to the role of low drug prices in Spain, Jiminez said current data and trends did not paint an optimistic picture for 2023. Patients should remain calm, however, as pharmacies can still provide generic medications in most cases, he added.

between October 2003 and December 2010, for the study. Spain currently has the oldest living person following the death of French nun Lucile Randon, at the age of 118.

Maria Branyas Morera, who lives in Catalunya, at the ripe age of 115 now holds the title. She is one of nine Spaniards in the top 100 people who have been the oldest in the world.

Oldest

Maria was born on April 4, 1907 in San Francisco. She returned to Spain in 1914 with the rest of her Catalan family, and has been living in the Tura d’Olot senior home for several years. There have been three women, and six men throughout Spain who have been the oldest people in the world.

Ana Maria Vela Rubio, who died in 2017, was the oldest person in the world at 116

Mask-free

MASKS are no longer mandatory on public transport. The Covid measure ended today (Wednesday), with the obligation being ended for passengers on buses, trains and taxis.

years.

She’s followed by Maria Branyas Morera at 115, Martia Antonio Castro (114), Joan Riudavets-Moli (114), Francisco Nuñez Olivera (113), Saturnino de la Fuerte Garcia (112), Josep Armengol (112), Jesus Mosteo (111) and Antonio Urrea (111).

However, you will still have to wear a mask in health centres and pharmacies

Industries such as the travel sector had been calling on the government to do away with the use of face masks on transport in Spain, which is one of the few European Union countries that still had any kind of coronavirus restrictions in place.

Hard to swallow

POLICE are hunting thieves who stole gold-covered sex toys worth €80,000 from the largest distributor of erotic toys in Spain, Dreamlove, located in an industrial estate near Sevilla.

Boob job

A WAITRESS in Spain has denounced a potential employer for demanding that she send him photos of her cleavage before considering her for a job, telling her it ‘was very important’.

Naked justice

VALENCIA judges backed a man’s right to walk around his home village of Aldaia naked, but not before telling him to put his clothes on when he turned up for his hearing nude.

O P

RESS

Pearl of a find

Waitress finds €4,000 gem in plate of clams

By Simon Hunter

Romantic Ronda

RONDA has been named ‘the most romantic city in Spain’ by Hello! magazine. “There is not a single one of its ancient streets, decorated with stately palaces, that does not have a legend or a love story to tell,” claimed the famous UK publication.

A DECISION to overrule her boyfriend at dinner and order clams paid off for a young woman when she discovered a valuable pearl worth €4,000 in the first one she opened.

Waitress Natalia Freire, 22, had a ‘huge craving’ for a plate of the shellfish when she went out to eat with her boyfriend. “He’s a shellfish gatherer and is sick of eating them. So I ordered a plate for myself. And

PURR-FECT REWARD

A PET owner desperate to find her beloved cat offered a whopping €1,000 for its safe return.

Alba, a 19-year-old student, plastered signs offering the reward all over Arroyo de la Miel (Malaga) when her furry

as I work here they gave me extra!” she revealed.

“Our kitchen makes them so well,” she said about the dish, which she ordered in the very restaurant she works in A Coruña, in Galicia.

friend Tokyo vanished for 11 days. “My cat is like my daughter,” she told the Olive Press “Money was not important, I just wanted her to return”. But Alba didn’t end up stumping up the huge reward as she herself found Tokyo hiding inside the basement of her neighbour’s house!

Given the purple colour of the pearl, Freire initially didn’t realise what it was, and it wasn’t until she’d finished her meal that she looked it up on Google “I’d heard about pearls in oysters, but not in clams,” she said. But it is that very colour that made her find so valuable. Purple pearls, which are traditionally associated with artistry, wisdom, complexity, nobility and passion, are rare and in high demand.

Natalia has not decided whether she is going to sell it or keep it.

If she does cash in, it is not known if her boss at the restaurant will want a cut.

It has published its 20 must-see cities in Spain, each overflowing with romantic nooks and dreamy locations for Romeos to discover with their Juliets. The other destinations include Siurana, La Albufera, Aranjuez and Castillo de Pubol, in Girona.

Famous

It also lists certain specific spots like the famous San Nicolas viewpoint in the Albaicin of Granada as well as the Santa Cruz barrio of Sevilla.

It particularly sings the praises of the ‘kissing corner’ of Iznajar, in Cordoba, and Vejer, in Cadiz, as well as Gaudi’s amazing Parc Guell, in Barcelona and the Lovers’ Mausoleum in Teruel.