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ge 20 - Pa Special
Steaming ahead
Property expert Mark Stucklin on how the market is suddenly gathering speed with help from the British market
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Fit for a star
The secret Spanish homes of a dozen leading celebrities
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Marbella’s leading agent Chris Clover on how he started out on the Costa del Sol in 1970 HOMESELLERS REPORT
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Page 7 Contact our Marbella Office: Avda De Manolete, Centro Plaza Local 12-13, Nueva Andalucia, 29660, Marbella, Malaga
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Welcome to our incisive, up-to-date report WELCOME to the first edition of the Olive Press’ special Property magazine. Appearing bi-monthly with the newspaper, it offers an incisive, in-depth look at the burgeoning property market on the Costa del Sol and inland. Keeping you updated on the fast-moving market, with the latest statistics, changes to the law and useful up-to-date information, it will also focus on ideas for your home. Featuring a range of articles and interviews, we hope it will become an essential tool for buying and selling your home in southern Spain. For our launch issue, we have the latest overview of the market
by Sunday Times property writer Mark Stucklin, an interview with Marbella’s best known agent Chris Clover, of Panorama Properties, and a feature on the celebrities who have bought in this wonderful corner of Europe. We hope you enjoy it and would like to say thanks to all the agents and advertisers for supporting this launch. We hope you will continue with us over the coming years. Do not hesitate to contact us with feedback, ideas or to advertise in the next edition out in May. Email jon@theolivepress.es. Yours sincerely, Jon Clarke, Publisher
Steaming ahead! Property expert Mark Stucklin explains why there is light at the end of the tunnel for Spain’s property market - and in particular on the Costa del Sol
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GROWTH SPURT: Malaga is leading the way with over 60% year on year growth
T’S been a slow train coming, but after seven In contrast, areas that rely heavily on local deyears of ‘la crisis’ there are finally some signs mand, like Sevilla, and Aragon, were still shrinkof light at the end of the tunnel for the Span- ing by 10% or more last year. ish property market... at least in the best areas So, a gulf is opening up between segments that of the main cities and prime parts of the coast attract foreign buyers, mainly on the coast, and where foreign buyers tend to buy. those that rely on domestic demand, mainly in Elsewhere the housing market is largely mori- the interior. bund, creating a two-tier market that could last Another big difference emerging is that between for years to come. new build and resale segments. The pipeline of After false dawns at the start of 2011 and 2013, attractive new developments is running dry all when sales appeared to increase in what turned over Spain, which explains why new home sales out to be a mirage of inflated sales created by plunged almost 20% last year, while resales ina government tinkering with the tax code, the creased by 20%. property market expanded by 10% in January, In Malaga province, new home sales fell 10%, according to monthly data from the National In- while resales rose 50%. stitute of Statistics (INE). The market would almost certainly be more That is the first time the market has genbuoyant, especially on the Costa del Sol, uinely expanded in January since the if there were more attractive new projcrisis began. ects for sale. The biggest constraint Even more encouragingly, the is now financing for new projects, We can Spanish housing market has and it will take time to bring new thank foreign grown on an annualised basis developments to market. for five consecutive months, With increasing sales in places investors for the and in ten out of the last elevlike Marbella, house prices are en months, suggesting that responding with small gains in recovery in places the market has finally found the best areas. a floor after seven years of deData from Idealista.com, a proplike the Costa del clines. erty portal, shows that asking There were 286,408 home prices have risen 9% in Marbella Sol sales last year (excluding social since bottoming out in the second housing), up 4% compared to 2013, quarter of 2013, taking them to 83% though still down 60% compared to the of their peak prices - a peak-to-present fall peak year of 2007. of 17%, and shrinking. And looking just at January - the latest figures We can thank foreign investors for the recovery from the National Institute of Statistics - the mar- in places like Marbella and the Costa Del Sol. ket increased by 10% in a year, and 28% in a Domestic demand is still hamstrung by high unmonth, which is all positive news for Spain. employment and mortgage restrictions, but forBut look more closely and it’s clear sales are eign demand is diversified and better financed, concentrated in various areas and in segments, and taking full advantage of today’s prices to so the good news is not evenly spread. snap up bargains. Malaga province, home to the Costa del Sol, was Foreign demand increased 14.5% last year, to the star performer in 2014, with sales up 20% in reach a record 14% of market share, lead by the the year, compared to a national average of 4%. British up 28%. Based on this data it looks like the Costa del Sol It seems the British love affair with Spanish prophousing market is clearly recovering. erty is still strong if the price is right. Other markets with big increases last year were the Balearics, the Costa de la Luz, Madrid, Bar- Mark Stucklin runs www.spanishpropertycelona, and the Canaries - all areas that appeal insight.com, a property information webto foreign investors. site.
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The British are back UK buyers lead the pack as foreign purchasers return to Malaga helping to trigger a sales rise of 28% last year
SWEET HOME zaGaleta
THEY’RE back in a big way - and the exchange rate means Britons will be buying even more Spanish property this year. Britons bought more property than any other foreign nationality in Malaga province last year, helping trigger a 28% rise in sales. Of the 23,929 homes sold, 38% were to expats. In fact, foreigners buying property in Malaga has almost doubled in the past two years alone, from 5,140 in 2012 to 9,000 in 2014. After the British buyers, the Scandinavians came second, while the French were third, then Benelux buy-
PROPERTY PICK ELITE CLUB: Slim and (inset) Soros, Ortega and Gates
Slim pickings
THE world’s top billionaires are all looking to Spain for a cut-price piece of the property pie. With Bill Gates, George Soros and Spain’s richest man, retail tzar Amancio Ortega, already holding stakes in Spanish real estate companies, Mexican business magnate Carlos Slim is now eying up his own Spanish empire. After beating off Soros to become the largest shareholder in building firm FCC in December, Slim is now set to become the second largest investor in Realia, one of Spain’s largest property developers. US billionaire Soros took a €92 million stake in Hispania Activos Inmobiliarios, a Spanish property-investment vehicle, last March. While Microsoft founder Bill Gates owns a 5.7% stake in Spanish builder Fomento de Construcciones y Contratas SA.
The number of building licences awarded for new homes was greater than the number rejected last year, for the first time since the onset of the crisis in 2007. ers, Germans and Russians in that order. Meanwhile, property purchases by Spaniards also rose by 29% last year, as figures almost returned to precrisis levels. Nearly a third of all the properties sold in Malaga province were in the so-called Golden Triangle of Marbella, Estepona and Benahavis, which saw an incredible 6,821 properties sold last year, topping the 2007 pre-crisis levels.. The last quarter of the year registered an incredible 2,030 sales alone.
Evictions soared in 2014 ALMOST 100 families were evicted from their homes per day in Spain last year. Some 119,442 foreclosures went ahead in 2014, a rise of 10% on 2013. Figures from the National Institute of Statistics (INE) showed that the regions most hard hit were Andalucia, Catalonia and Valencia.
Offices at the Puente Romano Hotel & opposite the Marbella Club Hotel Tel. (+34) 952 863 750 info@panorama.es www.panorama.es
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Onwards and upwards January saw an upturn of 9.6% in purchases – with a total of 33,416 transactions recorded. This is the best figure Spain has seen in 14 months, and also continues a five-month growth trend for the sector. Second hand homes performed parHOUSE sales are expected to grow ‘moderately’ in 2015, ticularly well in January, accounting for 73.1% of home sales. estimates leading bank BBVA. The country’s economic growth prospects and more favour- Leading the charge were the Canary able financing conditions have been touted as catalysts for the Islands, where there were 126 sales per 100,000 inhabitants and La Rioja, property market. The bank maintains that Spain’s property sector began its coming a close second at 122. recovery in 2014, and as a result of the current trend has At the bottom of the pile, Galicia and increased its economic growth forecast for this year up to Asturias, recorded just 56 and 57 sales respectively per 100,000 residents. 2.7%.
PROPERTY sales rose by almost 10% in the first month of 2015.
Bright hopes for bank
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HETHER you’re a hotshot businessman, Saudi prince or a Hollywood starlet, the properties available on Andalucia’s sun-bathed shores are some of the world’s finest. Stunning properties on the Costa del Sol can change hands for up to €30 million, and offering a dream combination of fantastic weather, discreet locations and every imaginable facility, it doesn’t take a genius to see why. International architects that dream up
www.theolivepress.es March 19th - April 1st 2015
these extraordinary spaces seem to see them as works of modern art than functional living spaces, with the wow factor reverberating in every glass-fronted garage, indoor pool and cinema room. With a single square metre selling for a staggering €5,450 in the Puerto Banus area, these creations often set in sizeable estates with stunning views can fetch a pretty penny. Read on for Andalucia’s most amazing properties, the creme de la creme of the region...
BREATHTAKING: This €4,995,000 Sotogrande Exclusive property, with seven bedrooms, has a wine cellar, four car garage and even a staff appartment
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LAVISH: This stunning estate, in the exclusive community of Madronal, has ten bedrooms, spare guest villa and all the mod cons. The price? €5,450,000 with Overseas Dreams
Facts behind the figures
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HE latest data on property sales in Spain appears to show signs of improvement, but that’s not all. What the numbers really reveal is that there is no such thing as a Spanish market. There are too many massive differences between municipalities. Last September, a wellrespected commentator on Spanish property worried he might risk a lynching if he talked about a possible market recovery. Six months on, I’m going to put my neck on the line – metaphorically speaking, before anyone below the line gets any ideas... - and say that on the Costa del Sol, especially indemand areas like Marbella, the recovery is already underway. In 2014, according to the Ministry of Public Works and Transport, there were 20% more property transactions nationwide than the year before. This was based on figures from the notaries who register all sales. Increased sales and rising prices are not uniform nationwide, however, but vary significantly from region to region and city to city. An annual report from idealista.com, drawing on more
There is no such thing as a ‘Spanish’ property market… but the Costa del Sol’s is back, writes Adam Neale
The Propert y Insider by Ada m Neale
of properties sold to foreign buyers and the percentage bought in cash, rather than with a mortgage. Marbella is a small market with a large potential client base, many of whom hail from overseas and rely less on financing. In 2014, province-wide, 38% of properties sold were bought by foreigners and, in the last two years, sales to foreign buyers shot up by 80%. Sales to Spaniards also grew, but by just 29%. Most tellingly, however, last year there were 3,997 sales registered in Marbella – representing an annual increase DECEPTIVE: Reality is not as it seems in Spain’s property market of 29% in a city with a population of 150,000 – comthan 310,000 sales in 650 In Marbella (including high-end pared to 3,947 in the city of municipalities, found that the villas on the beach and bud- Malaga itself, home to nearly average sale price per square get apartments in the back- 570,000 people. metre nationwide was €1,594. streets), average prices rose When you consider the euro In San Sebastian, however, 3.7% in 2014 to reach €2,307/ has lost ground to most other you’d have to pay more than m2. Next door, in Mijas, pric- currencies, premium loca€3,750 for a square metre. es fell by more than 5%, to tions in Spain now look like While in Lleida, less than 400 €1,334/m2. Meanwhile, just great value compared to conkilometres away, the same 60 kilometres from the coast ventional safe havens like space would cost less than in Ronda, they dropped 14% to London. If you have funds in a quarter of the price, at just €972/m2. another currency and want to The most obvious reasons buy, in euros, in places like €910/m2. In the province of Malaga, and for imbalances in the market- Marbella, then do it now… even in towns on and close to place between Marbella and both from a security and a the Costa del Sol, the differenc- elsewhere are the law of sup- return-on-investment point es can be almost as dramatic. ply and demand, the number of view.
Terra Meridiana. 77 Calle Caridad, 29680 Estepona. Tel: +34 951 318480. Office Mob: +34 678 452109 Email: info@terrameridiana.com. http://www.terrameridiana.com
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Working in Marbella Real Estate since 1981 Tel: +34 952 816 250
Mansion - La Cerquilla, Nueva Andalucia Ref. 176-00942P
5.350.000 € Bedrooms: 5 Guest Toilets: 1 Terrace: 162
Bathrooms: 5 Plot: 2.560 Built: 976
Magnificent and totally refurbished Villa/Mansion in La Cerquilla, Nueva Andalucia. Truly a master piece of contemporary design with all the extras you can imagine. Fantastic views over the valley, sea and mountains and Puerto Banus and the beach are just a short drive away. The property further benefits from underfloor heating throughout, air-conditioning, Integrated sound system, cinema, spa, gym with sauna, large Jacuzzi, hydro-massage baths and showers, ultra modern Japanese toilets, gazebo with BBQ, heated salt water pool, a top range sophisticated security system, garage for two cars plus plenty of parking on the driveway, and separate guest apartment.
Ground Floor Apartment - Albatross Hill Club, Ref. 176-00920P Nueva Andalucia
Apartment - Andalucia Garden Club Nueva Andalucia Ref. R176-01040
Bedrooms: 3 Terrace: 145 Guest Toilets: 1 Community Fees: Garbage Tax: Local Rates (IBI):
Bedrooms: 2 Terrace: 20 Construct Year: Community Fees: Garbage Tax: Local Rates (IBI):
595.000 €
Bathrooms: 3 Built: 200 Construct Year: 2005 600 € /Month 180 €/Year 900 €/Year
Andalucia Development Centro Comercial Plaza 63, 29660 Nueva Andalucia, Marbella info@andadev.com
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347.500 €
Bathrooms: 2 Built: 90 1975 235 € /Month 186 €/Year 970 €/Year
Property Now Property
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Sotogrande soaring
H
OME to Premiership footballers, regularly visited by royals, the scene of one of Europe’s most prestigious polo clubsand Europe’s number one golf course, Valderrama, it is clear to see why Sotogrande property is so sought after. A stone’s throw from Gibraltar, half-anhour from Marbella and up the road from Ronda, Sotogrande is perfectly placed along Spain’s southern coast. And property expert Monique Westdorp, owner of Sotogrande Exclusive, predicts interest in the luxury resort will only grow. “The market is definitely moving up,” she says. “Sotogrande didn’t suffer from the economic downturn as much as the rest of Spain, but it is still benefiting from the boom now.” Westdorp expects to see an increase in both long-term rental and permanent sales markets, with holiday bookings also predicted to soar. “Sotogrande is a great place for families to set up,” Westdorp added. “There is a great outdoors culture, and I predict couples in their forties to invest heavily in the area in the year ahead. “With the Sotogrande International School just along the road, there is no safer and more practical place for people to buy.” For more information contact info@sotograndexclusive.com or call 617005844
Antony Worrall Thompson’s Mijas finca TV chef Antony Worrall Thompson may have fallen from the dizzying A-list heights he reached with Ready, Steady, Cook in the 1990s, but he is still enjoying the high life, making regular trips to his avocado farm in the hills above Mijas. He’s also been busy in Gibraltar of late where he’s a judge on GBC TV’s hit reality cooking show, Rock Chef.
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Fit for the Whether it’s a quiet life in the hills or a champagne-fuelled binge on the Costa del Sol, celebrities have been flocking to Andalucia for as long as memory can serve. Reporter Rob Horgan takes a look around the region to see which famous faces are here today
W Glen Johnson’s Sotogrande suntrap England international and Liverpool footballer Glen Johnson can often be spotted lapping up the post-season sun in his sensational Sotogrande home. Its polo fields are a favourite divot-stomping ground for royals like Princes William and Harry. Leafy Sotogrande’s multimillion euro mansions have attracted a number of soccer stars in recent years, including Shay Given, Glenn Hoddle and Brendan Rodgers.
March 19th - April 1st 2015 www.theolivepress.es
HETHER it’s ex-England footballers or Hollywood hotshots, Andalucia has that A-list appeal that keeps the celebrities coming. From British royalty and Saudi sheikhs to the Obamas and Lady Gaga, swanky resorts like Sotogrande and Marbella are prime destinations for high-profile holidaymakers and many a famous face has decided to stay put for good. From the early days when Audrey Hepburn and Cary Grant could be spotted chatting over breakfast in Marbella, through resident ‘stalwarts’ like Antonio Banderas and ‘fallen stars’ like Max Clifford, to the current batch of publicity-hungry reality TV celebs routinely spotted falling out of clubs, the trend shows no sign of abating. And with the region’s growing reputation for fivestar infrastructure and first-class cuisine, as well as its well-catalogued sun, sea and sangria lifestyle, it’s easy to see why. The illustrious list of former celebs who once resided in sunny southern Spain includes Rolling Stones’ star Ronnie Wood, Irish actor Sean Connery and superstar Prince. So who’s buying into the Costa del Sol dream today and, more importantly, where do they hang out?
Kilroy-Silk’s Casares cash cow
Former MEP and TV personality Robert Kilroy Silk has a huge mansion in the hills near Casares. The 11-bedroom converted olive mill is used as a holiday home by the former Kilroy host. When he is not in residence, he rents out the property for an eye-watering €12,700 a week.
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stars
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NEWS IN BRIEF
Deluxe development Terry Venables’ managerial venture Just up the coast in Alicante, former England manager Terry Venables is taking on his latest managerial adventure after restoring a 500 acre olive grove into a luxury Spanish hideaway. El Tel opened up to the public in October, with guests paying a tidy €200 per night.
Rick Parfitt’s Alhaurin hideout Hidden away in the hills above the Costa del Sol in Alhaurin, Status Quo rock legend Rick Parfitt can often be found kicking back in his decadent mansion with his wife and twins, Tommy and Lily. With tennis courts, a swimming pool and a garden to rival any horticulturist’s wildest fantasy, Parfitt’s pad is the perfect hideaway.
SOME 400 luxury properties are set to be built in Estepona by developers iKasa. The first 50 homes, costing €300,00 to €600,000, will be ready by 2018.
Cilla’s Estepona eyrie
Shopping spree
The former golden girl of Saturday night TV is pushing 72 but Cilla Black still gets ‘a lorra laughs’ chilling at her luxury Estepona villa. That was until last year when her luxury pad was struck by a fire while the ex Surprise Surprise host was in the UK. Happily, a renovation job looks to have restored the property to its former glory and our Cilla should be back for another date with the coast this summer.
BRITISH investment group INTU Properties is set to invest €450 million in a new shopping and leisure centre in Torremolinos.
and at least one crook...
Russian president Vladimir Putin is wellknown for his admiration of excess and the construction of his Benahavis mansion in the hills above Marbella is no exception. Kitted out with two swimming pools, a cinema and a €1 million wine cellar, Vlad’s pad is one of the most enviable in Andalucia.
Road to recovery SPANISH house prices are climbing faster than they have since 2008. Prices around Spain were up around 0.3% in 2014, comparing to a drop of 10.6% in 2013. Almost 2% more properties sold in the last quarter of 2014 than the previous year.
Villas in vogue
Vlad’s Marbella pad
David Bentley’s Benahavis bolt-hole Once dubbed the ‘next David Beckham’, the former Tottenham and England footballer David Bentley hung up his boots at the age of 29 for a new life on the Costa del Sol. Now involved in a string of hip hangouts including popular La Sala in Puerto Banus, when he’s not socialising with the clientele Bentley can regularly be spotted practising his swing on the golf courses around his beautiful family home in Benahavis (pictured left).
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Gordon Goody’s Mojacar getaway One of the men behind the Great Train Robbery, criminal mastermind Gordon Goody, has gone from bad to the ‘good life’ on a farm in Almeria. While his criminal associates – Ronnie Biggs and Bruce Reynolds (to name just two) – became cult figures in the UK, Goody escaped to Spain to run beach bar Chiringuito Kon Tiki in Mojacar.
FOREIGNERS spent €6.05 billion on homes in Spain in the first nine months of last year, a 30% rise on 2013. Over 40,000 properties were purchased, with most purchases in the regions of Valencia, Andalucia and Catalunya.
Green houses A MAJOR Europe-wide study led by Spanish project co-ordinator Bax and Willems could transform the way housing markets value ‘green’ homes. The ‘Revalue’ project will assess the impact of energy efficiency measures on the valuation of homes.
Property Now
26 26the olive press - March 19th - April 1st 2015
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www.theolivepress.es theMarch 19th -- April 1st19th 2015- April 1st 2015 olive press March
ESTUCO INTERIORS All you can wish for in interior design
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NTERIOR design experts Estuco Interiors have opened a new flagship showroom in Centro Plaza, in Marbella, to meet their ever-expanding business needs. Established more than 20 years ago, the Estuco team offers bespoke designs perfectly tailored to meet your needs. Estuco’s multilingual professionals from the UK, Sweden, Denmark, Holland and Spain work together to manage every single aspect and detail of a project from conception to completion. They have built up a trusted network of craftsmen, builders, painters, electricians and suppliers who are always on time, on spec and on budget. The versatile team takes on residential, hospitality and restaurant projects and clients may choose from a huge range of fabrics, furniture, object d’art and the in-demand Farrow & Ball range. Whether you are considering an entire home revamp or simply want to freshen up that bedroom, the team would love to meet you at their Nueva Andalucia premises. Visit www.estucointeriors.com, call 952 810 633 or email info@estucointeriors. com for more details
HOMESELLERS REPORT
WANTED: Top homes for listing
Ready for the rush
We began flying hundreds of Americans over in the Sixties on inspection trips T
Pioneering surveyors Cluttons are in Marbella… and on the hunt for listings
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OT many people have lived through five recessions. So to be running a business – particu- Olive Press editor Jon Clarke discovers how larly an estate agent – that has survived five Marbella’s longest-established estate agent downturns, you have to be doing something right. Chris Clover is one rare businessman, who despite Chris Clover from Panorama Properties the odds, has kept his family business, Panorama started out on the Costa del Sol in 1973 Properties, not only running, but prospering for 45 years on the Costa del Sol. Since opening an office in 1970, Panorama has survived no less than five recessions, with the last one ‘definitely the worse, but fortunately we made a profit in every year’. “It began at the end of 2007 and we only started to come out in 2012,” he explains at his well located office overlooking the Marbella Club Hotel, where modern-day Marbella commenced in the mid-50’s. Thankfully, things today have rarely looked so rosy for agents on the Costa del Sol, and particularly the Marbella area, where sales volume shot up in 2014 by over 28% compared with the previous year. On the day we meet, Chris is pouring over statistics for his annual property report, which is soon to come out. What we can clearly see is the so-called ‘Golden Triangle’ comprising Marbella, Benahavis and Estepona saw more sales last year (6,821) than in the pre-crisis year of 2007. It is excellent news and with the pound currently as strong as it has been for nearly a decade, the year ahead looks to be even better. “Panorama made a record number of sales in STALWART: Chris Clover in Puerto Banus in the 1980s and (inset) the estate agent now 2014 and the crisis is definitely over,” he explains. serve the customers,” he explains. “But that has been clear in the quality end of the company’s headquarters in Washington. “Marbella was very much the place to go for the jet- He has been there ever since and with his son Alex market of the Golden Triangle for some time now.” He puts this down to the fact that 85% of the buy- set and most of our American buyers had an affin- and daughter Katinka both on board, it means ers in this market are foreigners, with British buy- ity to Europe and were well travelled and cultured,” there have been four generations in the company, which started with his grandfather in Chicago in he says. ers very much back at the top of the pile, They found them through their US asso- 1904. and putting the Marbella area easily two ciate agent network, exhibitions and The key to success, he puts down to ‘hard work’ and a half years ahead of the recovThe British adverts in the New York Times and and despite now approaching his 70th birthday he ery of the property market in Spain Washington Post and flew them over shows few signs of slowing down. Part of his sucin general. are still the on inspection trips, the largest with cess, he says, is having a great team of 28 profes“The British are still the most immost important sionals working alongside him. 120 passengers aboard. portant singular market here and The first villas sold in the late ‘60’s He still works at weekends, always answers his it has been the same since the singular market for between $10,000 and $20,000 phone, and when pushed for what he gets up to in 1980s, with a few ups and downs, on the Costa del and after selling hundreds of them his spare time, insists he hardly has any. “I play a litof course.” they realised they needed a base on tle tennis and meet with my best friends,” he says. But it all began for Chris way back in Sol As for his ongoing love affair with Spain, there apthe Costa del Sol. the late ‘60’s with the US market, when Chris became the natural choice to run the pears to be no end in sight. “I certainly feel very his father’s American real estate business closely connected to Spain. It is my home, I have new office. saw an opportunity to sell second homes to upper middle class Americans in southern Spain, and He had soon invested in his first property; a small my Spanish nationality, a Spanish wife and both my $10,000 beachfront villa in Bahia Dorada, be- children were born here plus I love my work. I don’t opened an office in Marbella in 1970. After graduating with distinction from The Univer- tween Estepona and Casares. “We fixed it up and plan to go back to America.” sity of Virginia in 1969, he joined his father in the sold it in 1974 and moved to Puerto Banus. It business, moving to Marbella in 1973 from the meant I was closer to the office and could better Email info@panaroma.es or call 952 863 750
HE world’s oldest practising firm of surveyors is open for business on the Costa del Sol. To capitalise on the rejuvenated Spanish market, Cluttons has opened a new office on Marbella’s Golden Mile. Now in its 250th year - and with offices in over 100 countries - managing director James Evans believes the company is destined for Spanish success. “Cluttons has established itself as a forward-thinking firm with a history spanning four centuries,” Evans says. “We are now currently on the lookout for listings to offer prospective clients on the Costa del Sol. “With the euro in its current state, and Spain undergoing a property resurgence, the timing is perfect.” He added: “The international expertise we offer to clients really sets us apart from our competitors. We are one of the world’s most experienced firms when it comes to offering advice.” Established in 1765, when William Clutton took over his father-in-law’s business in Sussex, Cluttons were true pioneers of surveying. Passed through the generations, Cluttons grew steadily through the 19th and 20th centuries before bursting onto the international arena in the 1970s. After capitalising on the surge of property development that followed the First and Second World Wars, Cluttons paved the way for global surveying firms with a move into the Middle East. Always a forward-thinking firm, new ventures in South Africa, India and Nigeria are driving home Cluttons’ determination to stay ahead of the pack. For more info call 951 120 169 or email Cluttons.andalucia@cluttons.com
Property
28 10the olive press - March 19th - April 1st 2015
Gardens of 1,500m2 3 bed, 2 Bath and furnished
Amazing value in good location. 5 bed, 2 bath furnished property
www.theolivepress.es
Amazing value in good location. 3 bed, 2 bath furnished property
Large pool and gardens. 6 bed, 3 bath furnished rural location
Moving inland away from the Greasy Joe’s!
Fuente Genil
Inland Andalucia boss Graham Govier headed inland to get away from the traditional fry ups - and he hasn’t looked back
Marchena Agua Dulce
“ONE morning 15 years ago, I was sat in a cafe in Fuengirola listening to two women complain that they couldn’t get a good fry up in Spain. “That’s when I said to myself ‘surely there must be more to life in Spain than this’”. That was the moment property expert Graham Govier (pictured) packed his bags and headed to the hills above Malaga... and he hasn’t looked back since. Based in both Mollina and Alcala la Real, in Jaen, Govier’s property agency Inland Andalucia has established itself as the leading, go-to property agent away from the coast for over a decade. “Living inland is completely different to living by the coast,” Govier adds. “The lifestyle inland is more focussed on traditional family values, there is much more of a community feel. Something we seemed to have lost in the UK and don’t experience on the coast. “A plumber will talk to a lawyer who will be friends with a road sweeper. Who you are or what you have doesn’t matter to people living inland. “The thing most people don’t realise is how near everything is. From Malaga airport you can be in Antequera in just 40 minutes, whereas it can take up to 90 minutes to drive to Manilva.” Over the last year Inland Andalucia has invested heavily in a new website and database in conjunction with Google to make it virtually possible for buyers to view a home from the comfort of their armchairs. With full details of the properties, GPS location details and interior videos available online, potential buyers are able to walk down the street of any property. The new system also allows lawyers to log on and view all property documentation and contracts on behalf of their clients. For more information visit www.inlandandalucia.com or call 952 741 525 (Mollina) or 953 587 040 (Alcala la Real)
Community pool, shared gardens. 3 bed, 3 bath and furnished
Fully furnished centre of town. 3 bed, 2 bath apartment
Ready to move furnished town
Cocoya Antequera
Stunning views, recently painted. 5 bed, 2 bath ready to move into
Community pool, roof terraces. 4 bed, 3 bath and furnished
Absolute bargain 3 bath furnished p
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into. 3 bed, 2 bath n location
www.theolivepress.esthe olive March 19th- - March April 1st 2015 press 19th - April 1st 2015
Fully reformed large property. 7 bed, 2 bath with furniture
Stunning 2 bed property in quiet location. Must be seen
Stunning 3 bed property in quiet location. Must be seen
1129
3 storey property to finish off. 2 bed with garage and terraces
2 bed property in quiet location. Close to all amenities
Martos
Priego de Cordoba
l
with this 4 bed, property
Marchena
Alcala la Real
Castillo de Locubin 5 bed property near town centre with 2 car garage. Ideal for B&B
Puerto Lope
Fully reformed centre of town. 3 bed with furniture included
Fully reformed large property. 2 bed with furniture included
Private pool, mature gardens. 3 bed, furnished
Community pool, large garden, 4 bed, 2 bath and furnished
Stunning views with large pool. 3 bed, 2 bath split level villa
Stunning views with pool, 3 bed, 2 bath. Beautiful garden
Property Now
30 30the olive press - March 19th - April 1st 2015
MARBELLA €525,000
(£371,561) *
www.theolivepress.es
REF: WW236
MARBELLA
www.theolivepress.es
March 2015
from €410,000 (£290,172) *
REF: WW230
This 2 bedroom, 2 bathroom ground floor apartment is located in a beautiful complex which is ideally located between Calahonda and Marbella, in a frontline beach location, offering not only outstanding views of the sea and Cabopoino port, but also benefiting from many on-site facilities including both indoor and outdoor swimming pools, tennis courts gymnasium, 24 hour security and wireless internet.
This is an exclusive development of 24 luxury apartments in the San Pedro area of Marbella. This fantastic development is being built by a renowned English developer and will include 2 & 3 bedroom apartments set amongst landscaped gardens with a communal pool just 100 metres from the beach.
BENAHAVIS
FUENGIROLA
from €305,000 (£215,859)*
REF: WW188
from €241,000 (£170,564)*
REF: WW234
A fantastic development in Los Arqueros Golf & Country Club, this modern development is beautifully set in the hills of Benahavis. Located just a 10 minute drive from the luxury yachting marina of Puerto Banus. Only 10 units of 2 and 3 bedroom apartments remain. The first three phases have already sold out.
A fantastic opportunity to purchase a brand new, modern townhouse in Fuengirola, walking distance to local amenities and just a few minutes from the beach. The 3 bedroom properties have sunny terraces, great views, underground parking and a communal pool.
MARBELLA
MARBELLA
from €284,000 (£200,997)*
REF: WW180
Situated in the heart of the golf valley surrounded by Los Naranjos, Las Brisas, Aloha and La Quinta golf courses, this complex comprises of 48 spacious and beautifully appointed 2, 3 and 4 bedroom apartments, each with its own sun-drenched private terrace. Only 15 units left. Reduced by 58%.
from €650,000 (£460,028)*
REF: WW112
These luxury 2, 3 & 4 bedroom apartments are located in a private urbanization of 58 contemporary style, luxury apartments in the exclusive and highly sought after area of Sierra Blanca, Marbella, just 5 minutes from the luxury yachting marina of Puerto Banus.
tel: +34 952 880 941 info@winkworth.es www.winkworth.es
* Disclaimer exchange rate correct at time of going to press.
Property
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www.theolivepress.esthe olive March 19th- - March April 1st 2015 press 19th - April 1st 2015
Kicking on! K.O. the kickbacks
AN Olive Press campaign to expose the unethical practice of lawyers giving estate agents ‘kickbacks’ for using them has gained the support of a number of legal firms. Launched this month, our ongoing probe aims to stop the bent practice of lawyers paying estate agents unethical commissions of up to 20% for awarding work. And the appeal for clean lawyers to step forward has already gained momentum. “I am very pleased that someone is finally exposing this,” said lawyer Adolfo Martos Gross from Gutierrez del Alamo & Martos Abogados, in Marbella. “I believe that up to 70% of the top firms offer commissions to agencies and it should be stopped.” Fellow lawyer Javier Lopez from MT Lawyers in Fuengirola
Campaign to clean up unethical carve up between estate agents and lawyers gathers speed
added: “Apart from being against our ethical professional rules, such practices spoil the reputation of Spanish lawyers. “It generates mistrust in the Spanish economy and rewards unprofessional agents who are more concerned about their commission than in providing an independent quality service: “It is in absolutely everybody’s interest that the practice ends.” Other law firms also adding weight to our campaign include My Lawyer in Spain, Lawbird, Anderson PCL, Temple Cambria, Poveda & Associates Lawyers and Paradigm Family Law.
Our 180th birthday
Founded in 1835 to serve London’s elite, Winkworth is is now conquering Spain
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HIS year estate agency Winkworth is celebrating its 180th anniversary. Having opened its doors in 1835, the company has lived through wars, recessions, coronations, diamond jubilees, and man landing on the moon. And not only has it survived, it has grown into one of the UK’s leading, and London’s largest, estate agency with a strong international presence. In fact, last year alone, the agency opened six new offices including an exciting new venture in Guadalmina on the Costa del Sol. Capitalising on its strong footing in the European property market, the new Spanish office has made brilliant progress already, taking on exclusive properties along the coast. A beautiful seven-bedroom home in Estepona, costing €15 million, being one of the highlights. With the success of this latest foreign expedition, it is worth remembering how it all began as a family affair. Winkworth was founded in 1835 by Henry Winkworth. The original head office was located in Curzon Street, Mayfair, and there was also a country office in Brighton, which was run by Henry’s
brother Edward. The main business involved selling residential property to an exclusive client list and letting houses in Mayfair to the landed gentry for ‘the season’ – a time when the elite of society held debutante balls, dinner parties and large charity events. Since then, Winkworth has gone from strength to strength and now stands at over 90 offices strong around the world. It also offers services from its head office – still based in Mayfair - such as Country House, International and China Desk team. Yet throughout this time the core values of the company have remained engrained in its work. Expert knowledge on the local area, property market and industry are something all Winkworth agents pride themselves on, as well as offering a tailored service and unique perspective to ensure that clients get exactly what they need, whether they are looking to buy or sell. That’s why if you need expert property advice you should speak to your local Winkworth Team. You can contact Winkworth Guadalmina on 952 880 941 or visit winkworth.es
Appeal While we are still appealing for lawyers to step forward, we are now extending our appeal to gain the support of clean estate agents. Agents already supporting the campaign include Panorama Properties, Cluttons and Terra Meridiana. To add your support email newsdesk@ theolivepress.es or call 951 273 575
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Buyers beware
PROPERTY is almost certainly the biggest purchase anyone will make outside their home country. And yet, for a lot of people, the cautious a p p ro a c h that would be adopted at home often disappears under the time constraints of buying abroad. But it is essential - whether acquiring modern or older property - to know what potential problems you are buying in to. In order to achieve this it is essential to have a professionally conducted survey prior to committing to the purchase. The Royal Institution of Chartered Surveyors is an internationally recognised body which ensures that its members are capable of carrying out this function. Gibson Gale Chartered Surveyors has experienced surveyors working independently to estate agents, banks and owners to ensure the best unconflicted advice. In the current market where real bargains can be found and where building standards are not always as high as in northern Europe, buyers must beware. Houses which may look fine on the surface often have problems which lurk unseen. A survey ensures peace of mind and stops a purchase turning into a money pit. Call Gibson Gale Chartered Surveyors on 00350 2007551
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Property
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Market gaining speed
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F you’ve been toying with the idea of buying Expert Peter a luxury home, upgrading your property or investing in a buy-to-let deal on the Costa del Bowerman explains Sol, then there has never been a better time why there is a to do so. The signs of recovery are aligning and investors renewed interest and construction companies are once again in Costa Del Sol back in the market. Southern Spain’s luxurious coastline - often property dubbed the ‘California of Europe’ - is returning to its former glory as Europe’s top destination for the so-called ‘promised lands’ can also suffer second homes. from cold, wet winters of -5 degrees and searing With luxury homes in Marbella and Puerto Banus desert heatwaves. at around 50% of their original value, it is no sur- Spain now has a land registry system very similar prise the buyers are flooding back. to that of the UK, so with the right agent and lawSales increased by 30% at the end of 2014 and yer, buying a property in southern Spain should the latest Eurostat figures show construction is be easy and risk-free. up by an amazing 16%. With only 10% of payments usually needed beAs tourism increases, more people are opting to fore completion, bank guarantees protect paypurchase a holiday pad for regular getaways. ments. A recent survey found that 50% of visitors stay in On top of this, mortgage rates are down to 3-4% their own, or rented, holiday homes - great news and loans of up to 80% can be arranged subject for the buy-to-holiday-let market. to status and valuation. And things are set to get better, particularly with It is a fact that due to infrastructure improveBritish buyers curments and betrently seeing the ter lifestyle facilbest exchange ities, there has rate in a decade been a huge and making them, influx of young, once again, the professional exleading purchaspatriate families ers on the Costa coming to live del Sol, followed in this dynamic by Scandinavians, land of opportuBelgians, French, nities. Dutch and GerNo surprise, mans. privileged resiInvesting in a secdents enjoy a ond home is well comprehenwithin the grasp sive choice of of many people healthy outdoor and no longer sports and leia secret just for sure activities wealthy investors LUXURY: Lifestyle and properties all year round. and entrepreneurs. There are dozens of golf courses and plenty of The main criteria for an overseas buyer - and opportunities for watersports. investor - is usually good climate, good local Rained-off barbecues and cancelled beach parfacilities, a safe environment and a secure and ties are simply unheard of. stress-free transaction. And when it comes to nightlife. Well, you’ve got Demand for property is proportional to the qual- Puerto Banus, Marbella, Estepona and Benality of life you can expect to enjoy there. madena marina - all buzzing many nights of the The Costa del Sol has a great availability of low- week. cost flights, a good infrastructure, hi-tech com- Investing in bricks and mortar has historically almunications, top healthcare, excellent schools ways shown good long term capital growth. and, of course, 320 days of sunshine a year. So if you’re contemplating buying, instead of Can all this be said for countries like Bulgaria, renting or upgrading to a better property while Dubai, Morocco, Turkey and Egypt, who have all prices are low, now is the best time to do so. seen a property boom over the past decade, but For more information on buying or selling propequally suffer from instability, organised crime erty on the Costa del Sol, contact Peter or any of and low standards of living. his team on Tel: (0034) 951 551 444 or Email: Also, while they do generally have plenty of sun, info@OverseasDreams.com Peter Bowerman is the managing director of Overseas Dreams estate agency in Marbella and La Cala de Mijas. He is a frequent contributor to the UK press and is one of the panel of experts for the Overseas Property Professional Magazine
Grand designs
FROM laying the foundations of the World Trade Center in Gibraltar to shoring up landslip affected luxury villas on the Costa del Sol, Roger Bullivant has built a reputation as one of Europe’s leading construction firms. Working in Gibraltar since 2003, the firm has delivered a wide range of piling, underpinning and engineering solutions for the Government of Gibraltar and many of the Rock’s leading commercial organisations. Whether providing ground engineering solutions at Gibraltar International Airport or designing and installing the civil engineering for the Sunborn Luxury Floating Hotel (pictured above), Roger Bullivant is in high demand for complex, challenging projects.
“With a unique understanding of the variables, constraints and hurdles to successful project delivery, our specialist teams will ensure that your project is completed to your exacting specifications and to the absolute highest standards of quality,” said Andrew McGowan, Director. Other high profile projects include installing a Geothermal heating system for the luxury beachside El Presidente Urbanisation and completely reforming a luxury villa at Marbella’s Monte Mayor resort. For more information on our services please call our office telephone 952 883 248/620 461 288 or visit our website www.rogerbullivant.eu
GREAT DEALS: At www.overseasdreams.com
Property
34 16the olive press - March 19th - April 1st 2015
www.theolivepress.es
March 19th - Aprilwww.theolivepress.es 1st 2015
Strong foundations UK construction giant Taylor Wimpey is set to deliver 20% more units this year CONSTRUCTION giant Taylor Wimpey is capitalizing on the upturn in Andalucia’s property market. The celebrated UK real estate developer is planning to deliver 120 homes in 2015, some 20 more than last year. “We started to plan for this when we saw an upturn in the market AMBITIOUS: Plans made by Taylor Wimpey’s Ignacio Osle nine months ago,” explains Ignacio Osle, Regional Director for der development this year and velopment is a 48 luxury home expect this to increase in 2016.” development in Marbella in San Taylor Wimpey in Andalucia. “We have around 300 units un- Among the projects under de- Pedro called Jade Beach, and a 60 unit project in Mijas. Incredibly, all 36 units of a project in Estepona have sold in just one year. Such was the speed of sales, the company ended up increasEARLY a decade ago, Richard Woodland realised the ing the prices by 8% because of ultimate expat dream: he bought some land and condemand. structed his own finca. “Much of this growth has been It has all helped to build up solid relationships with local due to a big British return to tradesmen and, in turn, a thriving property business in Coin the market, which is excellent to show for it. news,” continues Osle, who was Property Overseas Group now has an inland office in Coin born in Pamplona, but lives bedealing with sales and rentals in Coin, Monda, Guaro, Tolox tween Jerez and Marbella. and Alhaurin el Grande. “We now only have five properRichard has unparalleled experience and knowledge of buyties left in the La Floresta Phase ing and selling property inland, offering a complete property 2 development in Elviria and 11 service - as well as knowing which architects, lawyers and builders you should trust. available in Miraval Phase 2 in La The Property Overseas Group office can be found opposite La Cala Golf Resort, in Mijas. Trocha commercial centre in Coin. “Other than that we are pretty Contact Richard on 952814780 or visit www.propertyomuch sold out and we are trying verseasgroup.com to acquire more land to build more.”
Living the dream
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Fantastic deals in Duquesa Village
LIFE’S A BEACH: If you do all your homework before buying
BARGAIN: Prices from €95,000
Brit future for homes market
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EAL estate is back in business on the Costa del Sol, say the property pros at Hamilton Homes. The Sabinillas estate agents forecast that 2015 will be the year of the mortgage and the British property buyer both scarcer than hens’ teeth since the property bubble burst. Plus, with the Manilva area offering what the company believes is the best price/ quality ratio on the coast, it is expecting a busy year. Banks are keen to lend money again and the strong pound is likely to see the British market back in its number one slot, ahead of the French, German and Scandinavians who have been keeping sales ticking over, says director Andrew Bacarese Hamilton. And with property prices 50 to 70% lower than they were at the height of the boom in 2007, now is a great time to buy. However, banks are cracking down on paperwork and purchasers will need expert help to cut through the extra red tape. Working closely with financial institutions, the team at Hamilton Homes is in the perfect position to help buyers negotiate a hassle-free mortgage. “The banks over-lent in the heyday of the market and we all suffered from their overexuberance,” says Andrew. “Understandably they don’t want to get back into that situation so, as a result, there’s a lot of paperwork, a lot of regulation, and it can be overwhelming for people who haven’t been through the system before.” Seeking the help of an expert has got to be worth it with the amazing local bargains around. Luxurious penthouse apartments at Finca Cortesin that originally sold for €500,000 are now changing hands for
It will be a golden year for Spanish property, British buyers and, yes, mortgages too - but now with even more red tape, reckons Sabinillas estate agent Hamilton Homes just €250,000. Dream properties are flying off the shelves as they come on the market - think a threebedroom townhouse in idyllic Casares for just €99,000, but don’t think about it for too long! Analysing properties along the entire coast from Gibraltar to Malaga, Manilva is the zone which is currently offering the best price/quality ratio, says Andrew. Here is his advice for new buyers:
Where to start To buy a property the first thing you need is an NIE. This little number costs under €10 and once you have it, it’s for life. Hamilton Homes can help set up your NIE appointment and guide you through the entire purchase process in a friendly, personal way. Ideally, give them at least two to three weeks notice to set the appointment up before meeting them. You’ll find your experience with Spanish bureaucracy can be dramatically easier.
Number crunching
Having worked for Citibank, Royal Bank of Scotland, Credit Agricole and Barclays between them, Andrew and his partner Shanalle know a thing or two about property financing. Not only will they help you find the perfect place, they’ll secure the perfect mortgage. They set up their company in 2003, having identified a serious gap in the market for agents with strong financial backgrounds. Together with you, they can
analyse, plan and budget to make your purchasing experience free of fuss and unwanted costs down the line.
What you need to know Your age (it affects the length of mortgage you are entitled to) Your income (that’s net income, minus any debts and existing loans) Your funds (how much you are willing to invest in the property).
Figuring it out If you don’t know the precise state of your finances, don’t panic. It’s far more common than people think. Clients are frequently unsure of what they can really afford. “That’s what we’re here for,” says Andrew. “You don’t have to come up with a magic figure yourself. “Over a coffee or over the phone, we can go through your finances on a case-bycase basis, and work out the perfect place for you.” The financial analysis balances what you have with what you need, so you will only be shown properties you can afford. This avoids disappointment and unrealistic expectations. Although in some cases, people discover they can afford more than they imagined!
Market forces Despite the supply being there, the backlog means banks are inundated with sales and the process of buying in Spain is taking longer
DUQUESA Village is an enclosed residential complex with landscaped communal gardens and designed in a typically Andalucian rustic style. The urbanization, just a 15 minute walk from the beach, is a holidaymaker’s paradise; with five communal pools, a children’s pool, paddle tennis court and located on the prestigious Duquesa Golf Course. Specifications: The apartments have high quality specifications including: · · · · · · ·
Fully-fitted kitchen with granite worktop and utility area Master Bedroom with jacuzzi bath Air/conditioning and heating (fully fitted) Marble flooring throughout Electric Blinds Lock-up storage room Private underground parking
Prices start from €95,000 Contact Hamilton Homes for more details
IN THE KNOW: The Hamiltons
than normal. If the entire process of securing a property with a mortgage used to take two months, Andrew estimates that now it can take as long as four. Prospective purchasers should be delighted, however, as the longer wait is a result of much improved checks against money laundering and ensuring the market’s foundations are solid. Andrew believes the market has bottomed out. But, as Hamilton Homes has unprecedented access to properties that the banks are trying to sell, the deals now are better than ever. High-quality homes are going for staggeringly-low prices, and 2015 looks to be a great year for Spain’s property market, he predicts. Hamilton Homes specialises in sales across the region, including Alcaidesa, Sotogrande, La Duquesa, Sabinillas and Estepona. To get in touch, contact Hamilton Homes on +34 952 890 444 or email olive@hamiltonhomes.com
To get in touch, contact Hamilton Homes on +34 952 890 444 or email olive@hamilton-homes.com
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Property
www.theolivepress.es March 19th - April 1st 2015
DEVELOPING ANDALUCIA
Ulf Hessedahl and his Andalucia Development ‘one stop-shop’ have been involved in property for over 30 years FOUNDER: Kjell Hessedahl
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HE Costa del Sol has seen an explosion of growth over recent decades and in order to be savvy with the market, it’s essential to speak to people who know their stuff. The small but very well-established Scandinavian team at Andalucia Development, in Marbella, has a wealth of experience in the Spanish and international real estate market. Since the company was set up by Kjell Hessedahl, Ulf’s father, back in 1981, it has been perfectly poised to be part of the immense growth of Marbella and the surrounding areas. The multilingual team is a ‘one-stop-shop’ for your needs and can take care of all the details and bureaucratic hoops that are involved when buying or selling a house. Nurturing solid relationships with clients, law-
yers, building and property management companies and many more over the years, their connections make the whole process of buying or selling a house as smooth as possible. Their goal: to make their customers feel as comfortable as possible throughout what can be a stressful process. They also secure all of the practical after-sale aspects so you don’t have to worry about a thing. With an approachable, welcoming workforce for whom nothing is too much trouble, the team at Andalucia Development would love to see you – drop in if you find yourself in the area! You can find them in Centro Plaza, Local 63, Nueva Andalucia, Marbella, or call them at 952 816 250 or email info@andadev.com
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Property Now
38 38the olive press - March 19th - April 1st 2015
www.theolivepress.es
March 2015
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The homebuilder you can trust
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