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May 25th - June 7th 2016
Booming July predicted following ‘pause’ in run-up to EU referendum Special report by Iona Napier
BOSSES: Cox and Wells
In come the big bucks! A HUGE US property fund is splashing €45 million on three new Costa del Sol developments. The American bosses behind Real Capital Solutions have snapped up sizeable plots in Estepona, Mijas and Benahavis and continue to look at further opportunities along the coast. The company, based in Marbella since 2013, already has five other developments, including The Retreat, in Elviria.
“We have spent around €86 million here so far and have a fund of €100 million to spend,” explained Managing Partner Peter Wells, based in Colorado. “We are one of the largest developers on the Costa del Sol and our emphasis is on distressed properties.” He added: “Also we do things transparently and always try and deliver on price and quality.” The company - which made hundreds of millions buying and selling distressed properties in the US - has 16 staff working out of its office at Centro Plaza. Local boss Taylor Cox, added: “The coast is really starting to come alive and it’s a pleasure to live in such a beautiful part of the world.”
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ESTATE agents in Spain and Gibraltar are lining themselves up for the busiest July on record. It comes as some British buyers put purchases on hold due to the forthcoming EU referendum on June 23. Most agents the Olive Press spoke to confirmed they had various sales currently ‘paused’ awaiting the result, despite the British market remaining strong. The majority believe that the expected result - to stay in Europe - will lead to the pound strengthening with a red hot summer of sales to follow. Ben Bateman, at Holmes Sotogrande, described the referendum lead up as a ‘pause for thought for British buyers’ due to concerns over the weak pound. “After a remain vote however, we expect to see a strong finish to the year - and a sudden wave of bids from British buyers,” he told the Olive Press. One agent in Gibraltar has gone one step further actually employing extra staff for July. Savills director Sammy Cruz-Armstrong said: “Everything is on hold due to Brexit, but I am convinced we will stay in Europe and am taking on extra staff in July to deal with the expected deluge of business.” Benahavis agent Scott Marshall of Proper-
Currency Exchange
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Roll on Remain tieSpain, meanwhile, described the pause as ‘very psychological’. He said: “It’s a combination of the uncertainty of the vote and the exchange rate right now.” While many agents have a couple of sales currently on hold, some have seen more. “We have up to ten sales currently on hold until after the referendum,” said Victor Witkowski, boss of Castles, in Manilva. “Buyers are not necessarily pulling out, but they are biding their time to see what happens.” Fellow Manilva agent, Shani Hamilton, also confirmed a slowdown, but added: “We are predicting a huge influx of business as soon as a decision is made.”
Where is Gillian buying?
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Where are the coolest Airbnbs?
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Deals
Spanish property sales by nationality and quarter
www.spanishpropertyinsight.com Source: Registradores Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016
Either way, official statistics out this month confirm the British market remains strong and tens of thousands continue to look for their dream home. Respected analyst Mark Stucklin insists that foreign demand for Spanish property was up 16% in the first quarter with Brits the biggest group of foreign buyers at 22% of the market share. “The British still dominate the foreign market for property and there is no evidence of a noticeable decline in demand as yet,” he said. And certainly not everyone is suffering. One agent, Graham Govier of Inland Andalucia has seen ‘no negative impact’ at all during the referendum lead-up. “In fact it is the opposite. Prices are extremely cheap right now and we are selling two times as many properties as we were last year,” he said. He added: “My salesman Paul - already a bit of a local celebrity - has just completed his seventh consecutive sale and people are buying because they can see that the incredible deals won’t wait around for them forever,” he added. Paul made headlines in the Olive Press last year when he sold an impressive nine properties in a row.
How to reclaim floor clause fees
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Introducing OP’s Agony Uncle
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Save money when buying or selling your property in Spain For more information please call us on +34 951 401 921 or email spain@smartcurrencyexchange.com OUR PARTNERS
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Property
the Olive Press November 14th - 25th 2016
Top class SPAIN will top the International Monetary Fund’s property market table this year following mammoth increases in UK and Swedish investments. Figures from the Organisation for Economic Development (OECD) reveal UK buyers accounted for 21% of sales last year, while Swedish sales increased by 220%, accounting for 6%. The statistics still show however that it is still possible to acquire a bargain in Spain, with property undervalued by 26%. In contrast, the UK and Swedish markets were overvalued by 7% and 114% respectively. “The Spanish housing market has experienced an encouraging start to the year and with an increasing number of overseas buyers looking to Spain, I would expect this positive trend to continue during the coming months," said Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España.
On the up HOUSE sales in Spain continue to climb with a 16.8% year-on-year increase recorded in March. Andalucia was flavour of the month, counting the highest number of housing transactions – 6,299 – followed by 5,123 in Catalunya and 4,878 in Madrid. March saw a total of 31,925 transactions, according to Spain’s National Statistics Institute. The second-hand home market is leading the way with sales up by 24.2% in March 2016 compared to the same month the year before: some 25,800 transactions.
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www.theolivepress.es 18 May 25th - June 7th 2016
Foreign demand for Spanish property was up 16% in the first quarter of 2016 with a strong British market despite Brexit fears and a weaker pound, writes Mark Stucklin of Spanish Property Insight
HERE were 99,427 homes sales recorded in the first three months of 2016, up 9.8% on the same period last year, according to latest figures from the Property Registrars. Locals bought 86,571 homes, up 8.9%, and foreigners bought 12,856 homes, up 16.4%. As a result, foreign demand accounted for 12.9% of the market in the first quarter, down from 14.4% in 2015’s last quarter, but up from 8.6% at the start of 2013. Once again the British were by far the biggest group of foreign buyers with 2,814 purchases registered in the period and 22% of foreign market share, followed by the French with 1,014 acquisitions and 8% foreign market share. Looking at just the biggest markets, British demand increased the most yearon-year, up 44%, followed by Sweden, up 34%, and China up 18%. Russian demand once again posted the biggest decline, down 35%. Both the biggest market, and one of the fastest growing, the British domi- BIG INTEREST: Brits leading the way in Spanish property purchases nate the foreign market for Despite the impressive growth of de- might decline noticeably in the first property in Spain. The chart pictured, focusing on four mand from the UK, the recent fall in two quarters of this year, at least unkey markets since Q1 2013, illus- the pound against the euro, and fears til the referendum is out of the way. trates how British demand has taken of Brexit result in the forthcoming But there is no evidence of a softoff in recent years, while France and June 23 UK referendum on EU mem- ening of British demand in these Germany increased only slightly, and bership, led me to speculate that Brit- figures. ish demand for property in Spain However, it’s worth bearing in mind Russian demand collapsed.
No fear
BIG SPENDERS: Brits
that these figures from the registrars lag the market by a month or two, which is the time it takes for sales to be recorded in the property register. If indeed there has been a downturn in British demand in the first quarter, the second quarter’s results might be more revealing. Another chart shows British demand clearly relates to the strength of the pound with a time lag of around six months. As the pound weakens against the euro, less British buyers enter the market. So the next quarter’s results could be quite revealing indeed. However, after the referendum, as the pound inevitably strengthens again, the buyers will come back. Mark Stucklin runs www.spanishpropertyinsight.com
Property
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May 25th - June 7th 2016
A right rural row... AN Andalucian mayor is being investigated after a Lebanese property magnate was accused of building illegally on protected land. Mijas leader Juan Carlos Maldonado is accused by the local PP party of allowing the illegal construction at Finca El Pantanillo, near Río Ojén. “The works are continuing because nobody does anything to stop them and the damage they are causing is terrible,” insisted PP councillor Carmen Márquez. The unnamed developer is now being probed by the Guardia Civil after he begun construction of a home CONTROVERSIAL: Finca El Pantaand dug two huge artificial lakes, allegedly without nillo is under construction permission.
TV doc Gillian McKeith in Spanish hotel business hunt
Marbella leading the way HOUSE sales in Marbella, the property hotspot of the Costa del Sol, are going from strength to strength. The town is settling into its fifth consecutive year of recovery after a successful 2015 when house sales increased almost 10% on the previous year, according to estate agent Panorama. In fact, the sales numbers are almost on a par with those in 2006, the year preceding the crisis when Spain’s market was at its strongest.
Recovery
While prices in the most exclusive areas of Marbella are ‘on the rise’, the number of sales completed, affordable prices appearing, and mortgage opportunities are spelling positive news for Spain’s property market. “There is a similar recovery scenario throughout all of Spain, although recovery on a national level is a couple of years behind Marbella,” said Panorama director Christopher Clover. “Marbella’s ‘head start’ to recovery is a result of its multi-country source market – it’s safe to say that the property market recovery in Spain began here.”
I’m a celebrity, get me into there! A
Peak funds for charity
PROUD: Taylor Wimpey team
IT’S taller than La Concha and the weather is famously inclement, to say the least. But this didn’t stop a group of employees from Taylor Wimpey Espana from leaving Marbella to climb Scotland’s Ben Nevis to raise €11,500 for charity. The group joined the Highland Games, participating in the traditional caber toss before climbing to the summit at 1,345 metres.
TWO thirds of Europeans wishing to buy a house manage to do so in two months, a study by RE/MAX Europe has revealed. Spaniards visit seven properties on average before making a choice, while 81% will conduct extensive searches online before setting foot outside the door. The Portuguese are even faster and find the home they want in one month on average. Meanwhile the Austrians and the Dutch take their time and tend to spend around half a year browsing suitable options. Brits will visit a minimum of 10 houses before putting money down while just 4% of Europeans are fussy enough to visit more than 20. The Finnish, however, are content seeing just four pads.
AS many as 100,000 British property investors could be set for a refund from Spanish banks. Deposits for off-plan apartments which were ‘lost’ when the property crash hit in Spain can now be reclaimed after the supreme court ruled that banks should have protected the deposits. One firm, Spanish Legal Reclaims believes this could mean out-of-pocket investors receiving an average payout of €25,000. This could cost Spanish banks up to €19 billion. “Finally there is a real possibility to recover your money,” said Luis Cuervo from Spanish Legal Reclaims. “Previously it was impossible to get your money from the developers but now you can claim with the banks and they have the resources to pay people back.” He added that ripped off investors should be ‘quietly confident’ they will be refunded but that they might have to put up a fight.
MOVING IN?: McKeith (above), Cortes de la Frontera, and (right) Hotel Sol y Sierra in talks with the town hall about this particular property and all being well they could be the latest new residents in Cortes,” said a source. “Word has
Just two months to buy
Payback time
EXCLUSIVE By Iona Napier
TV doctor who found fame analysing poo samples is on the hunt for a stunning Spanish retreat. You Are What You Eat presenter Gillian McKeith - who also starred in I’m A Celebrity Get Me Out Of Here - is ready for another adventure, but this time in Andalucia. The Olive Press can reveal that the Scottish health guru, 56, and her husband Howard Magaziner are in the process of buying a dream property in the soaring Serrania de Ronda. The Channel 4 presenter McKeith who became famous for being the first contestant on I’m A Celebrity to refuse to do a task in 2010 - is understood to be buying a 26-bedroom hotel in Cortes de la Frontera. Hotel Sol y Sierra, which sits in the heart of the town, has been shut for a number of years. “McKeith and her husband have been
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been going around that she will be setting up a business but we don’t know yet what it will be.” Cortes estate agency Mary Beker meanwhile did not deny McKeith’s plans but stressed that a sale had not yet gone through. “No agreement has, as yet, been confirmed so we cannot say for sure exactly what’s going on,” Tom Beker told the Olive Press. “We hope to know more soon.” When contacted McKeith’s husband, a lawyer, said: “We are not yet in a position to make an official announcement.”
Damning debt
FIVE Andalucia town halls have seen their debt rise by more than €1.5 billion since 2011, new figures show. Jerez, Jaen, Huelva, Granada and La Linea are among Spain’s most heavily indebted town halls. During the period, Jerez de la Frontera lost more than any town hall in Spain,with debts rising by €412 million. Jaen lost €312 million in the four-year period with Huelva (€135 million), Granada (€112 million) and La Linea (€112 million) all in Spain’s bottom ten. Estepona town hall’s debt rose from €16.5 million to more than €77 million.
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NEWS IN BRIEF
Popular ruling BANCO Popular has been court ordered to repay €58,000 to a British couple who invested in a property that was never built by developer Aifos.
On the up HOME sales in Spain increased by 6% in April, with apartment sales rising 4% and purchases of singlebed homes up 13%.
Big build A TOTAL of 7,326 new home constructions were completed in the first two months of 2016, a 15.5% year-on-year increase.
Tower tale MARBELLA Town Hall will hear if their application to restore the town’s El Cable sea tower is successful in June.
Rental fines HOLIDAY homeowners now face fines for renting out their property, if they have not complied with new regulations.
While its name doesn’t exactly roll off the tongue, agency Fastighetsbyran is going from strength to strength, opening its 16th office in Spain THE co-owner of one of the Costa del Sol’s leading estate agents is unfazed that British buyers struggle to pronounce his company’s name. While confirming how important the UK market is to his Swedish agency Fastighetsbyran, Kent Schanke joked: “The British mostly can’t pronounce our name, but they can call us ‘Fastig’ if they want. That is good enough for us.”
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www.theolivepress.es May 25th - June 7th 2016
You can call us ‘Fastig’!
English
Speaking at the launch of a brand new Marbella office - the 16th in Spain the agency boss con- PARTY TIME: At the new office in Centro Plaza tinued: “The British market though is very have a chat to us over a cof- have plenty of keen Scandiimportant for us and perhaps fee... I am sure we can help navian buyers desperate to the key foreign market in find you the perfect prop- invest down here.” Spain. erty. Pronounced as Fasti-gets“Luckily we all speak good “And we really need good booron (meaning ‘The Real English so please pop in and coastal homes to sell as we estate agency’), the brand
new Centro Plaza office, complements other nearby agencies in Estepona, Fuengirola, Torre del Mar and Nerja, while another one opens this summer in Malaga. So far the company has amassed 250 offices in Sweden since it was created in 1966. Speaking over canapes and champagne at the ritzy bash, Kent added: “We want to show that we are a well es-
tablished company. We have decades of experience and everything here is done by the books.” New franchise partners Andreas Ersson and Sanna Magnusson have been in the company for ten years, but only moved to Spain in January. “It’s an exciting time for us, there has been a real buzz today,” said Andreas. “We are looking forward to meeting more British buyers.”
Who is taking bets? by Mark Rickard of Smart Currency
Property Law • Conveyancing Inheritance • Probate • Wills None Resident Taxes Family Law & Divorces • Claims Setting Up Companies We cover from Estepona to Nerja and Inland
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HE bar is regularly the place I meet interesting people, and last week was no different. I was returning to the UK for the A Place in the Sun Live! Exhibition at Olympia and the journey had started so well. I caught the 40-minute bus from Marbella to the airport and the driver had the Real Madrid v Man City match blasting the excited Spanish commentator. Luckily for the passengers, it remained nil-nil in the first half - I was worried if Madrid had scored we would have been subject to the driver jumping out his
www.smartcurrencyexchange.com La Cala del Sol, Local No. 17,
We speak English, Spanish, Scadinavian, Dutch and French
Dolores Perujo Palomo Tel: 0034 952 587 704 Email: bonafide@bonafidecosta.es Abogada Lawyer nº 4905 C/Cartama, 25 - 29649 La Cala de Mijas, Malaga
chair Cala at the cry29649, of GOOOOOAL! de Mijas, Malaga tel: +34 to 951 his 401 921 And turning public (the passengers) celebrating, leaving the bus to steer itself! I cleared baggage control speedily with my smartphone boarding pass and just hand luggage before finding a bar for the second half of the match. I naturally wanted City to win, despite being a Chelsea supporter (us Brits are good like that). On my right was a chap who was perpetually on his phone while watching the match and commenting throughout in English. I took up my usual airport hobby of people-watching, and kept an eye on the match. Once the game was over and the chap was off the phone, I asked if he was a City supporter
OUT AND ABOUT: Mark (left) with the team from Spanish Estate Agents talking to his family in the UK. He laughed and said no, he was from Sheffield, and was the ‘price-maker’ for a BIG bookmakers in Gibraltar. His lengthy phone call made sense now! We talked briefly about his job and mine, and inevitably we met slap bang in the middle Brexit and currency. He was concerned that his wages and possibly status in Gibraltar would be affected, and I was waxing lyrical on the episodes that sterling had encountered in the last few months. Once I had finished my market commentary, he talked with conviction about a recent office wager on Brexit and the effect on sterling. I am not a betting man - I have been working too long in the currency markets - but the office sweepstake was: Staying IN
Europe: 90% with Sterling up on June 23 by 7%. Many of us on the coast will hope he is right. Bookmakers usually are... However, a currency broker’s role has always been to protect his clients from the potential downside of economic and political events like the referendum during their transaction. So, we cannot be subject to speculation, or ‘the chap at the bar’. This is where it really pays for those making international transfers to talk to a currency expert, to steer you through all the speculation and focus on the important part - protecting you and your money from the risks of exchange rate fluctuations in uncertain times. Email Mark@smartcurrencyexchange.com or visit the Mijas La Cala office.
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Swing the night away! It’s the dream of every schoolboy and more than a few of their dads, although mums may wonder how they’re going to get the shopping back from Lidl. Perched three metres above the ground, this idyllic tree house in the heart of Sierra de Huetor Natural
Dome sweet dome If living in a bubble is your ultimate definition of getting away from it all, this eccentric annex to the more conventional Los Banos de la Luz guest house will have you floating on air. At number three on the list, the cosy dome takes camping to its giddy geodesic limits with mod cons include an outdoor shower, although the ‘Moroccan style toilet’ (aka squat) may be a little less convenient. Tarifa’s beaches are just 6km away and, from only €26 a night, this quirky back-to-basics bivouac gives you attitude as well as value for money.
Park is accessible only by a hanging bridge. Upscale living it certainly is. And with its own bathroom, cooking facilities and a swimming pool, having a back-to-nature experience is as easy as falling off a log. For just €40 a night, you’d be barking (up the wrong tree) not to try it.
Up with the eagles
Coolest hotspots in the world
If bird’s eye views set your heart aflutter this swish Barcelona eyrie will lift you up where you belong, where the (Spanish Imperial) eagle flies. At number 15 on the list, the stunning penthouse overlooking the Plaza Real is a must-rent for next year’s Semana Santa processions, when you’ll have the best spectator seats in the house. Stylishly-decorated, the loft-style pad boasts an open fireplace, floor-to-ceiling windows, a party-sized roof terrace and sleeps four, from €210 a night.
Five of Airbnb’s 20 coolest stays are in Spain … and they’re all red hot holiday rentals, writes Laurence Dollimore
S
PAIN is host to five of the coolest Airbnbs in the world, according to a hot list compiled by The Times.
And no wonder - they certainly make the average holiday cottage seem .. well … boring. Try out treehouse living in an Anda-
Magic bus
Not a case of have wheels will travel, but fans of glamping will be in their element in this restored 1950s-style Airstream bus. You won’t miss your creature comforts with a flat-screen TV, wi-fi, iPod dock and plunge pool all included in the price of just €100 a night. Placed 14 in the top 20, this luxuriously-appointed static mobile home is parked up amid the stunning landscapes of Alozaina and the Sierra de las Nieves, with the nearest traditional pueblo blanco just a 20-minute walk away.
PRIMROSE R E A L E S TAT E Turning your dreams into your home
lucian park for size, or get closer to the spanish sun with a rooftop rental perched among the chimney pots of Palma de Mallorca. The collection features 20 of the globe’s coolest and most curious holiday lets for a mini break, with Spain beating off competition from feudal castles, quirky windmills and even an arctic holiday home in Iceland. Join us on a whistlestop tour of Spain’s Famous Five.
Container casa DIY gone mad or a holiday let that ticks every box? Make up your own mind about this rooftop refuge in Mallorca, made entirely from shipping containers fused together in one quirky living space. This fantastic feat of carpentry offers crate expectations for tenants with its central location and expansive views. It comes with a kitchenette, small decked terrace and plunge pool, all just a 10-minute walk from Palma’s vibrant city centre, and sleeps three people from €100 a night.
“Wij spreken Uw taal” - Nederlands, Spaans, Engels “We speak your language” - Dutch, Spanish, English “Hablamos tu idioma” - Holandés, Español, Inglés Primrose Real Estate - run by Lynn Van Wilderode based in Manilva (Málaga), operating on the Costa del Sol, covering Marbella to Gibraltar.
Parking for Sale
4 Bedroom Villa, Duquesa
1, 2 & 3 Bed Apartments for Sale
Luxury Villa, La Zagaleta
PARKING 2 MINUTES TO PORT!
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Marina de la Duquesa – Ref 195 Price: 8,900€
Villa Los Hidalgos – Ref 276 Price: 375,000€
Manilva Playa – Ref 277 Price: from 79,000€
Villa La Zagaleta – Ref 283 Price: 4,950,000€
The private parking is underground and has 24 hr security. Just two minutes walk from Puerto de la Duquesa and its fabulous restaurants and bars.
Large villa of 2 floors set on 1000m2 private corner plot, walking distance from shops, the beach and the promenade into the Marina of La Duquesa. Large open plan living room with many windows. South facing.
Brand new complex apartments for sale in Duquesa with great features incl sea views for many, garage space incl in price, close to the beach and promenade. Communal pool, garden, childrens area and paddle courts.
IBI per year: 33 €
Bedrooms: 4 Bathrooms: 3
Bedrooms: 1,2 or 3 M2 Built: from 89 Pool & Paddle Courts: Communal
A spacious, modern private villa within the prestigious La Zagaleta Golf and Country Club with its 2 Golf courses, 2 clubhouses with restaurants, equestrian centre, heliport, tennis and 24 hour security. Breathtaking views over the golf, mountains and valleys. Bedrooms: 5 M2 Built: 722 m2 Bathrooms: 5 Plot: 4828 m2
M2 Built: 17 m2 Parking: Security
tel: (+34) 661 193 789
M2 Built: 239 m2 Plot: 1000 m2
info@primrose-realestate.com
www.primrose-realestate.com
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the Olive Press November 11th - 25th 2015
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2, 59
5, 00
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Tel +34 952 816 250
VILLA FRONTLINE LOS NARANJOS GOLF 4 Beds • 4 Baths • 680 Built m2 • 208 Terrace m2 • REF 176-01258P
1, 82 0
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A beautiful and very well built house front line to Los Naranjos Golf in a small gated and private urbanisation. The house has been decorated in a modern style and is being offered fully furnished. The Villa features under floor heating, state of the art AC system, central vacuum cleaner, heated pool and also a special basement level with natural light and consists of a cinema room, guest suite, laundry room, utility area and a large garage.
VILLA LA QUINTA 4 Beds • 5 Bath • 550 Built m2 • 143 Terrace m2 • REF 176-01246P Brand new stunning contemporary villa offering breath-taking views towards the sea and tranquil surroundings. The property has been built to perfection with high qualities throughout. As you enter the house you have a good size living/dining area that leads out to the covered terrace and pool area. The garage holds 2-3 cars as well as having space for a store room.
Centro Comercial Plaza 63, 29660 Nueva Andalucia, Marbella Tel +34 952 816 250 • info@andadev.com • www.andadev.com
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Property
the Olive Press November 14th - 25th 2016
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www.theolivepress.es 24 May 25th - June 7th 2016
Peace of mind I
Step-by-step guide on how to reclaim money lost to the controversial floor clause
Why use a property management company? F you’re regularly absent from your home in the sun it’s not always safe to assume, once you’ve locked the door and walked away, that all will be well for your next visit. Although for the most part the Costa del Sol has a wonderfully mild climate, time and extremes of weather still take their toll. Regular attention is also needed to check for leaks, damp problems and insect infestations. Neighbours and friends may be willing to keep an eye on your property and usually start off with the best of intentions. But as we’ve found over the years, when a real problem comes up (often at the most inconvenient times), they may not be able to cope. This is particularly true when you rent out your property for holidays, or even just to friends and family. You will want your new arrivals to find the property clean and wellmaintained, beds made and hot water on. You will not want them to have to deal with plumbing problems, water leaks, fridges breaking down or electricity cutoffs during their stay. This is where a reliable property management company with a good reputation can be an in-
valuable ally. Your first thought will probably be the additional cost but it will be a worthwhile investment in the long run, leading to happier holiday clients who will want to return again and again. Quite apart from the peace of mind it will give you, too! As well as maintaining your property and looking after your guests, a professional management company will be able to advise you on legal issues, as and when they arise, and eliminate the stress and worry of being away from your home from home without knowing what is happening to it. A good management company will have the resources to offer a high level of multilingual services to deal with any problem – major or minor. If you have any concerns about leaving your property empty for long periods of time, or have bought it to offer holiday or longterm rentals, you have nothing to lose by talking it all through with the professionals. You may decide it’s not for you but you could also find it was the best decision you ever made! Contact +34 952 83 9595 and info@homecareontheweb.com
Visit www.homecareontheweb.com for more information
Cash back! Homeowners are set for a big payout as the controversial clausula suelo bank clause is finally given the boot
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ILLIONS of mortgage holders could be in for a massive payout. The controversial floor clause - AKA clausula suelo - has been deemed null and void by a Madrid judge, paving the way for a big payback for expats and Spaniards alike. Estimated to be responsible for a whopping 90% of Spanish housing evictions, the minimum-rate interest clause has been costing mortgage holders an average of €3,000 since the mid 2000s.
The latest ruling comes after the European Commission ordered banks to reimburse customers in full, last year. Paving the way for 2.5 million people to claim compensation payouts, the Madrid ruling could cost banks a combined €1 billion. But with around 10% of Spanish mortgage holders affected by the hidden interest fee, banks have been reluctant to explain how to reclaim. However, Costa de la Luz-based lawyer Maria Castro has outlined a step-bystep guide to getting your money back:
1. Find out if your mortgage has a floor clause Before taking action, you need to establish whether or not your contract has a clausula suelo. If unsure, seek advice from a mortgage broker or lawyer. 2. Go to the bank If you have established you have a claim then approach your bank. You will need to bring your mortgage agreement with you along with a legal letter with reference to recent court decisions. 3. If/ when the bank says no If not solved by the bank, you will need to approach the Bank Clients Service. You can contact them yourself or get a lawyer to do so on your behalf. You need to submit your claim with proof of the clause in your mortgage agreement along with a legal letter with reference to court decisions. They will answer within 60 days. 4. If Clients Service reject claim If your claim is rejected then you have two options: a) Contact the Client Ombudsman service, if the financial entity is among those who have adhered to this system. A legal argumentation is advisable here. It is an organ who works independently to banks. This needs to be answered within two months. b) Claim before the Bank of Spain. The Bank of Spain is not connected to other banks in Spain and makes an independent decision. They have four months to provide an answer. 5. If all else fails If none of the above work and you have exhausted all avenues then a claim can be made through the courts.
MASSIVE DISCOUNTS ON NEWLY ARRIVED STOCK! Mijas Golf
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Leading ladies The team from Estuco Interiors have been redesigning homes in Spain for two decades
W
HETHER it’s redesigning the Presidential Suite at a Melia hotel, or a luxury villa in Norway, the team at Estuco Interiors never take their eye off the ball. With an incredible vision and passion for creativity, it is little surprise they have grown consistently for the last two decades. Now one of the coast’s leading interior design companies, the team of four professionals have never been busier. “The coast has completely come alive and around 80% of our quotes are being accepted so we have a lot of work,” explains Christel Jurgensen. “It is such a contrast to five or six years ago when I had a huge pile of quotes, almost none of them accepted.” Based out of a fabulous flagship
showroom in Centro Plaza, Marbella, the team offer bespoke designs perfectly tailored to meet your needs – however whimsical they may be. The group of multilingual designers manage every aspect and detail of a project from conception to completion. And 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, object d’art and the indemand Farrow & Ball range. Visit www.estucointeriors. com for more details.or email info@estucointeriors.com
VISION: The team at Estuco deliver stylish projects on time, on spec and on budget
Looking for a simpler life?
Cambridge can connect you with it. Whether you are buying currency for the purchase or sale of a property, mortgage payments, school fees, pensions or general bills, Cambridge simplifies the process. We provide fast and affordable ways to make foreign exchange payments. We offer: ▫ a price commitment that consistently beats the high street banks ▫ the ability to move funds online or offline, all assisted by your personal account manager ▫ efficient, award-winning international wire transfer services With over 20 offices worldwide and over two decades in business, Cambridge is FCA regulated, and provides the security and peace of mind you need to effectively manage all your overseas payments.
Office: (+34) 952 830 176
Contact our Costa del Sol location at (+34) 952 830 176 or costadelsol@cambridgefx.co.uk for more information!
N340, KM 189
www.cambridgefx.co.uk
costadelsol@cambridgefx.co.uk Local 6, Centro Comercial Andasol Marbella, Malaga 29604
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the Olive Press November 11th - 25th 2015
SIERRA BLANCA COUNTRY CLUB Ref: OP8826
Semi-detached villa with superb views
LOS MONTEROS
3 bedroom semi-detached villa with private garden and pool, in an exclusive gated community with 24-hour security, boasting some of the best views anywhere on the coast. 7-minute drive to the Puente Romano Hotel. South-facing, sun all day. Ready to move into. Bargain price!
Beachside bungalow with 3 bedrooms in the exclusive area of Los Monteros, right next to the renowned 5-star hotel and steps to the beach.
NUEVA ANDALUCÍA
NUEVA ANDALUCÍA
Ref: OP8871 Built: 163 m² Plot: 776 m² Price: € 925,000
A partially-refurbished villa with sea views in a great location. Within easy walking distance to Puerto Banús. Cul-de-sac. South-facing.
An International Associate of Savills
Built: 201 m² Plot: 578 m² Price: € 690,000
Ref: OP8890
Fully refurbished villa, walking distance to Puerto Banús. Currently 2 bedrooms, easily converted into 3 bedrooms. Cul-de-sac. Southwest-facing.
GOLDEN MILE
Ref: OP8078
Built: 138 m² Plot: 339 m² Price: € 495,000
Built: 124 m² Plot: 564 m² Price: € 675,000
Ref: OP7561
Charming 3-bedroom corner townhouse, on two levels, in a beautiful Andalusian “pueblo”-style residential community on the Golden Mile.
Built: 159 m² Terrace: 15 m² Price: € 450,000
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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As we reach peak season, buyers are arriving in their droves – and they’re not waiting for Brexit, insists Shani Hamilton, from Hamilton Homes, in Manilva
Summer sellin’
To get in touch, contact Hamilton Homes on +34 952 890 444 or email olive@hamilton-homes.com prop@hamilton-homes.com
T
HE property market in Andalucia is hotting up in tune with the weather. And as the parasols go up and the sunscreen gets slapped on, property prices are slowly beginning
AGENTS: Andrew and Shani
to climb again. But, luckily in certain pockets of the coast, in particular in our areas of Manilva and Casares, there are still some incredible bargains to be had.
The market won’t stop for Brexit - but the Brits have taken a pause THERE are lots of people on the hunt for their dream home but British buyers are taking a little pause, with the Brexit referendum looming. They are still looking and they are still putting down small deposits, but most are waiting for June 23 to make a final decision. Either way, Spain will still be Spain after the
Brexit vote and there are still plenty of buyers from all over the world happy to spend money here regardless. My worry is that the British people will miss out and once they’re ready to commit, many of the best deals will be gone. Many Europeans are already buying in force. The good properties are not waiting for the
British to buy them. People from all over Europe are coming up with money, especially from Belgium, France, Germany, Austria, Norway, Sweden, Ireland and Hungary. It seems that for businesses Britain is better in Europe - we will certainly be voting to remain in the EU on June 23.
You will certainly find significantly better value for money here than in Marbella - with some properties costing less than half what they would in Marbella. Most clients buying in Manilva are not just buying for investment, but for the fantastic lifestyle here, for personal use and as a holiday home and future retirement property. There is a great combination of the familiarity of a strong expat population alongside the real essence of the real Spain. Wherever you are around here, from Duquesa marina to inland Casares, or from La Paloma beach to Manilva village there is plenty of space. What’s more the beaches do not get busy and there are some great areas to be discovered and explored such as the Castillo and inland at the Roman Oasis, not to mention the stunning white village of Casares.
Hot properties
Here are our ‘quick sellers’ – the most exciting opportunities on our books right now: Sabinillas townhouse for €250,000
Beachside apartment in Sabinillas for €185,000
STAR HOME
THIS three-bedroom photogenic detached townhouse is in Maria Teresa, a quiet area of Sabinillas. It is within walking distance of the quiet beaches, quality local bars and restaurants, supermarkets, parks and also has a communal pool. The independent home in the heart of Sabinillas has a large back terrace and a front porch. The community fees are very cheap.
FOR sea views and ample facilities within a resort-style urbanisation, look no further than this three bedroom, two bathroom apartment. With sea views, the excellently maintained La Noria development leads on to Sabinillas promenade.
Manilva beach townhouse for just €250,000
Luxury apartment in Finca Cortesin for €269,000 THIS gem of a two-bedroom flat in one of Europe’s most elegant resorts has a luxurious, almost colonial feel. The ample terrace with beautiful views has space for lounging and dining. There are also three beautiful communal pools, 24-hour security, while it sits next to the Volvo Masters Finca Cortesin Golf course.
Our superb featured property this month is priced to sell as the owners are changing location. The stunning frontline beach townhouse with three bedrooms and two bathrooms steps literally right onto the beach and its own private garden. There are even four pools, a ten-
R STAAL DE
nis court and a padel court onsite which makes it perfect for families. Buyers will love the proximity to chiringuitos, supermarkets and the port, while community fees are affordable. It has a comfortable layout of split level lounge dining room,
a brand new kitchen, and is decorated to a high standard throughout. The current owners began there as newlyweds, raised a young family here and are now changing location but are reticent to say goodbye to this cherished beachside home.
Duquesa penthouse apartment for €124,000 WHERE else in the world can you buy a penthouse flat for under €125,000? This beautiful penthouse to the sea and golf course also has a jacuzzi bath and is furnished to a very high standard. The fully renovated ‘turnkey’ property also has a storage room and private parking. The urbanisation of Duquesa Village is extremely sought-after and has manicured gardens, a padel tennis court and communal pools.
Bag your bargain: Doña Julia development in Casares SPECTACULAR sea, mountain, vineyard and golf course views are just the one perk of living in Doña Julia development. The south-facing apartments all have elegant fitted kitchens with Siemens and Bosch appliances. Ground floor apartments have private gardens while penthouses offer solariums with hot tubs. And the communal pool areas have have comfortable sunbeds, sunshades and plenty of green space. There is a fantastic infinity jacuzzi
pool which seats 20 and has two jacuzzi beds and the kids’ park complete with a pyramid climbing frame is another bonus. Quality and luxury meet for a reasonable price: we have sold out of units at €152,000 but there are some left at €161,000. Seize them before the next price increase! To get in touch, contact Hamilton Homes on +34 952 890 444 or email prop@hamilton-homes. com
To get in touch, contact Hamilton Homes on +34 952 890 444 or email olive@hamilton-homes.com prop@hamilton-homes.com
Property
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Property
11th 25th www.theolivepress.esthe Olive Press MayNovember 25th--June June 7th- 2016 2016 2015 www.theolivepress.es May 25th 7th
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Agony uncle
Having lived in Spain for two decades, Leon Cohen offers peace of mind for anyone moving here
moved here.” Born in Cape Town, South Africa, Leon left in 1972 to study textile design and management at Leeds University. From there he ventured into the world of retail, opening five shops in London including one on the King’s Road and another two in St. Christopher’s Place in the West End. After a successful 20-year stint in London, Leon packed his bags and headed to Spain like many expats in the ‘90s. Buying a finca in the lower Alpujarras area of Granada, Leon got his first taste of Spanish bureaucracy when he opened first a B&B, then moved into agriculture, running an agro-tourism business dealing in fruit and veg. But in 2013 it was time for a new adventure. Selling his finca and business, Leon headed for the coast. Now based in Mijas Costa, Leon says it is time to give something back. “I have had a lot of success in my life,” he says. “From my time in Granada I have built up a good knowledge of how the property system works and of setting up and running a business. “As I am now fluent in Spanish, also having a Spanish wife, I have a full understanding of the country’s customs and traditions.” He added: “I learnt the hard way. In the ‘90s expats were seen as an easy target and even the local grocers would add on a ‘guiri charge’. “It is, of course, a lot better now, but foreign residents who don’t speak Spanish can still be taken for a ride.” He added: “I am not going to make a fortune from my new venture, but it is time to give something back.” Work on the company website www.facilitatorspain.com is underway and should be online soon. As well as being a consultant, Leon is a qualified master coach in NLP (Neuro-linguistic programming) and he sees the two things going hand-in-hand. “As well as setting up the paperwork I can also help people discover what they want to get out of life in Spain.” Starting from next issue, Leon will be addressing common problems facing expats in a fortnightly Olive Press column.
M
OVING to Spain is not as easy as packing your bags and jumping on a plane. Be it bureaucratic, financial, property or personal problems, moving to Spain can leave the calmest of people pulling their
hair out. However, it need not be stressful at all. A former fashion/ textile designer-cum-developer-cum-hotel owner, it is fair to say that Leon Cohen is a master of all trades. And now he is turning his hand to helping others. A one-stop-shop for all relocating needs, Leon has set up a new company Facilitator Spain to help ease the pain of moving. Assisting with everything from building permits and residency paperwork to changing driving licences and number plates, Leon leaves no stone unturned to give his clients absolute peace of mind. “Anyone who has moved to Spain knows how stressful it can be,” Leon says. “There are so many factors to consider that just do not exist in other countries, be it the UK, Europe or further afield.” He added: “My job is to save people time, stress and to give them the best start to life in Spain at an affordable price. “I love this country but I wish I had been given more advice when I first
PROBLEM SOLVER: Leon Cohen and (left) his old finca and (top) one of his London stores
For more information call 692212567 or email leonc052@ gmail.com
NEW LOCATION FOR LA PERLA PROPERTY MANAGEMENT Jane Clay has opened the doors to her plush new office in Sabinillas and couldn’t be happier!!! With it’s central location it’s now even easier to pop in and have a chat to resolve all your doubts on your property in Spain. La Perla Living in Bahia passed on to be La Perla Property Management in 2010 and Jane has over 29 years experience of managing property on the coast. In DLP San Pedro in 1987 then in Sotogrande in Paniagua and followed by La Paloma de Manilva where all the infraestructure was renewed and all the villas built, moving on in 2003 to La Perla de la Bahia where she now manages 140 of the properties onsite. The services are dedicated to taking the ‘hassle factor’ out of being a homeowner in Spain, making your life as easy as you want it to be and increasing the enjoyment of your property. They are always making improvements to be able to offer an even higher quality of service. They offer an array of services for your convenience and they can be specifically tailored to your situation or needs. Services include: Cleaning packages A, B & C Annual Air-conditioning Contracts Insurance Brokers Gardening & Plants Welcome Package Personal Secretary Weekly Check Maintenance Service They can manage the Sale or rental of your property for long or short lets. If you bought your property as an investment or as a second home, they can arrange rentals for the periods where the house is not being used with the advantage that they always have a person on site to help the rental clients and to make sure that your house is always being looked after. Jane Clay – La Perla Property Management jane.clay@laperladelabahia.com janelclay@hotmail.com Tel : + 34 952 890 930 Fax: + 34 952 897 377 Mobile + 34 620 368 288 Conjunto San Luis, Portal 3 Local 4 (next to Banco Popular), Calle Isaac Peral, San Luis de Sabinillas, Manilva, 29692 Malaga
www.laperladelabahia.com
Jane and her team can’t wait to welcome you to their new office and help you in all your needs
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May 25th - June 7th 2016
Rob Horgan tours Spain’s little-known architectural wonders
Hidden gems T
HEY were the architectural treasures of their time, built at huge costs including gallons of blood, sweat and tears, only to be abandoned or eclipsed. Fame was not their destiny, as it was for Granada’s Alhambra, Cordoba’s Mezquita or Barcelona’s Sagrada Família, all known to tourists worldwide.
Knights’ Templar Castle A former Roman castle which was also a Visigoth and a Celtic stronghold, the Castillo de los Templarios is the stuff of fairytales and as impressive as any citadel in Spain. Perched atop a hill at the confluence of two rivers, the 12th century fortress keeps lookout over the boundaries between El Bierzo, Leon and Castilla y Leon. A mix of hexagonal-shaped rooms, towers and archways, tours are available from May until October.
Canfranc Railway Station Spain may boast the second-largest high-speed rail network in the world but the signalman at Canfranc station has been out of a job for decades. This abandoned 20th century railway station in the Spanish Pyrenees has known better times and was a vital trade gateway between Spain and France for much of the last century. Opened in 1928, it transported goods and Swiss gold during World War II but was brought to an abrupt halt in 1970 when a derailment destroyed a bridge on the French side of the line. Today, although the abandoned tracks are mostly overgrown, the buildings are largely intact and guided tours now run in July and August.
Vajrayana Dag Buddhist temple A Buddhist temple is the last structure you expect to encounter at the gateway to the Pyrenees, although the snow-capped mountain scenery bears a passing resemblance to Tibet. And, perhaps because of its unpronounceable name, the Vajrayana Dag Shang Kagyü Buddhist temple is largely unvisited by tourists. It is principally used by Buddhist pilgrims from across Spain who stop to rest up and seek enlightenment in the small, spartan cabins for a day or two. Built on a farm in Huesca in 1984, the temple’s main feature
In a country where cathedrals come 20 to the dozen and Moorish ruins are regularly unearthed beneath humble pueblos blancos, most people would be forgiven for thinking all of Spain’s best-kept architectural secrets had been let out of the bag. But they’d be wrong. Here are seven monumental treasures worth popping along to:
Moreruela Monastery
is a 17-metre high Stupa. Although well off the beaten tourist track, it has room for 40 guests and full board is offered to anyone who wishes to stay, whether they know the words to the hare krishna mantra or not.
One of the first Catholic Cistercian monasteries in the Iberian Peninsula, the 11th century building was once among the crowning architectural glories of Granja de Moreruela in Castilla y Leon. Initially home to 100 monks, more in its 13th century heyday when it was part-owned by the Prince of Zamora, numbers fell to just over 30 by the 18th century and no one knew quite what to do with it after that. It was declared an Artistic Historical Monument in 1931 but was not given protected status
Ancient Acinipo The Bronze-age settlement of Acinipo near Ronda is one of Andalucia’s best-kept secrets, even though the ruins spread across an area the size of 32 rugby pitches. The site boasts an impressive 2,000-seat Roman amphitheatre complete with orange-tiled orchestra pit and actors’ changing room. Minting its own money throughout the first century, Acinipo gave way to Arunda (now Ronda) in 429, as it was easier to defend. The theatre now has a new lease of life as the stage for an annual classic Greek and Roman summer festival.
Sant Climent church Few churches in Spain are omitted from the tourist itinerary but most foreigners and few Spanish can tell you about the Sant Climent basilica in Tahull, Lleida, even though it is a Unesco World Heritage Site. Built in 1125, it was virtually left to rot in peace until restoration began in the 1990s. Now the original leaky wooden roof has been replaced by stone and brick work. Much of the church’s furniture and artefacts which were on loan to nearby museums have also been returned to make the place feel more like God’s own home.
until 1981, by which time much of the surrounding lands had been sold.
Cartuja d’Escaladei The first ever Carthusian monastery built in Spain, the Cartuja d’Escaladei was commissioned by no less a mortal than King Alfonso II in 1194. However, royal patronage and holy heritage clearly counted for nothing and what must, at one time, have been the most beautiful building in Priorat, Tarragona, was seized and largely destroyed in 1835. Today, you can still see vestiges of its former glory on a visit to the ruins, while much of the original furniture and paintings remain amazingly intact.
The Spanish Estate Agent is delighted to announce the opening of its shop in Estepona. Part of the established European property group, Beaux Villages, The Spanish Estate Agent shares its parent company’s unrivalled ethos of complete customer care from initial enquiry through to completion – and beyond! The experienced Spanish team will be based on the Paseo Maritimo of Estepona with a portfolio of property stretching along the Costa Del Sol Buying or selling, they are here to help 20,000+ properties available to view! Call +34 512 703 166 to discuss your sale or purchase or come and see us at Avenida Espana 250, Estepona 29680 Visit our website at www.thespanishestateagent.com Email: info@thespanishestateagent.com
It’s your move!
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Olive14th Press Property Magazine meets the creator of a fantastic new online portal Parapar where you34 www.theolivepress.es the Olive Press November - 25th 2016 sell or rent your own house – entirely commission free
€525,000: 10-bedroom cortijo in Granada Ref JW3166
€169,750: Two-bedroom apartment in Alhaurin el Grande. Ref MA6816
€595,000: Three-bedroom golf course home in Alhaurin el Grande. Ref RD5133
€420 PER WEEK: Two-bedroom Mijas holiday rental. Ref KK2478
The Airbnb of real estate C
OULD this be the start of a new wave of DIY house sales? An exciting new expat venture is making waves on Spain’s real estate scene. Parapar - the brainchild of French/ Spanish culinary whiz Xavier Sierra - is a fantastic way for sellers to manage their own sale or rental by assisting them with online advertising through Spain’s biggest property websites. The multilingual chef, who owns Restaurant Fonda El Postillon, in Alhaurin el Grande, spotted a gap in the market when he saw sellers paying thousands of euros in ‘avoidable commission’. Having worked as an estate agent on the Costa del Sol for a decade before moving into cooking, he knew instinctively what to do launching Parapar, meaning ‘Particular a particular’ (Between individuals). “I realised if I could create a simple, easy to use website, that jumped out at buyers and renters, I could do very well,” Xavier tells the Olive Press. “I have created a simple deal which means clients get seen on all the key property sale websites around Spain.” Xavier, 44, had originally landed in Spain in 1994 after training as a chef in the wine capital of Bordeaux and opened the popular ‘Paris-Madrid’ res-
taurant, in Fuengirola. While incredibly popular he eventually decided to move into real estate, where he spent ten years honing his knowledge at Costa del Sol Estates. He then moved back to gastronomy and opened his restaurant in Alhaurin three years ago. But he never lost his passion for helping people buy and sell the perfect home, which is why he launched the new digital-savvy way of making a sale with the new Parapar website. “Given that 90% of homebuyers search for a property online and many Spanish expats have time to show their property and deal with enquiries, it was a no-brainer to me,” adds the father-oftwo, who lives in Mijas pueblo. “The seller is almost always the best person to display a house or answer questions so it makes sense for them to handle it with the help of our advertising service.” The commission free service was inspired by the extremely popular French website, PAP
€179,000: Three-bedroom terraced house in Mijas Costa. Ref SM3496
(Particulier a particulier) where individuals manage their sale through the online portal. With Parapar, sellers upload the description of the property, 30 photos, one video if they wish, and can decide on the price themselves. His team is also happy to offer tailored professional advice, contacts within the national and European market and total freedom for the seller. It is the perfect support network for a sale with communication facilitated between owners and buyers. For a one-off fee of €198, owners get their property seen on popular sites such as Think Spain, Spain Houses, Google and Youtube and membership lasts until they complete a sale. Alternatively, monthly fees as low as €24 can keep spreading the word about the property. “There are plenty of people who try to sell their house themselves and we are there to help them,” he adds. “You could say it’s the Airbnb for selling houses, but while Airbnb takes a hefty commission, we take an upfront fee for the service we provide and will not
hassle you after that.” With hundreds of registrations since the website was launched in March, Parapar is set to take off in the French and British markets too as the trilingual chef translates the house specs into the three languages. “I see in my restaurant that 95% of my clients are foreigners and we see this scene echoed to some degree on the
€140,000: Two-bedroom flat in Santa Pola, Alicante. Ref DG2741
property market,” he continues. “We are also working hard at the moment to grow our repertoire of short and long-term rentals so do come to us if you have a property you want to rent out.” Call 677 804 804 or visit www. parapar.co.uk for more information
€595,000: Three-bedroom rustic villa in Mijas with pool. Ref XG8877
Call 677 804 804 or visit www.parapar.co.uk for more information
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a very special counTry properTy! From the Owner
Three separate buildings, chic Country Style, natural materials, stone, wood, etc. Modern kitchen and bathrooms. Big well build pool 4 hct. land, perfect entrance from main road. Orange and fruit groves Great views -Gibraltar, Africa, Sea and Riverland10 min. Gaucin, 25 min. Sotogrande and Coast Suitable Boutique Hotel or three Family-homes!
Very reasonable price !!!!!!
Two fanTasTic land holdings!!
40 hct. and 38 hct. both bordering Rio Genal, Ronda Valley
The 40 hct. is perfect for any touristic use. 800 m River frontage, very old mill, flat lands! Olives + Cork wood’s, old buildings to renovate. For training centers, Eco farming, horses, animals sheep, etc.. Summer schools for children, Yoga, executive training, Art Hotel/ Restaurant. Idea plan’s available, Townhall approval. Work team, best price’s and experience. 15 min. two Villages, 45 min. to Estepona. The 38 hct. much closer to Coast, Sotogrande! Great views River, buildings to renovate. Idea perhaps parking short -and long- term for Caravans. Hotel/ Restaurant/ Apartaments. idea plan’s available,Townhall approval. 4 min. main road, 15 min. Coast, 25 min. Sotogrande!
Both Farm’s price under
1.000.000 €
More information call or email: Margarita, tel. 952 11 74 51 / margaritaftaylor@hotmail.com
Or Peter, mob. 670 01 52 02
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Homeseller’s Bible Be a savvy seller to get the best price for your house and the swiftest sale possible
1
T
HE period of time between deciding to sell and clinching the deal can average two years in Spain so you have to be savvy to make your life, and sale, easier. Adam Neale of estate agent Terra Meridiana advises the Olive Press that small details can make big differences but the overwhelming advantage comes when your paperwork is in order. If you approach the sale with all the following factors in order, you can be sure to speed up your sale:
2
Homestage
Declutter. Remove personal items. Some sales fall through because the area is too cluttered the buyers can’t see themselves or life fitting into the space. Any signs of damp need to be dealt with – dried, painted over and cosmetically improved. Don’t be afraid to spend money painting the walls, tidying the garden or even replacing heavy, dark furniture with light more modern fittings to give the property a clean, modern feel.
3 Make an invento
Follow the light
ry
4
Know exactly the ture, even down toitems of furniincluded in the sa light fittings, you plan to keep. le and what With some sales falling throug chandelier or evenh over a writing the rules bea TV, fo playing the game re is key.
Maximising natural light is key. A north facing property should not be viewed in the morning and houses pointing south-east should not be shown after 3pm in the summer.
Trust your agent
Invest in a reputed, experienced agent. All too often inexperienced agents will value a house based on other sales they see online rather than going there, Adam reveals.. And some sellers refuse to take advice from the agent and put it on the market for significantly more money. London sellers can be prone to asking too much as they are used to flipping houses and making huge profits.
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Demand a realistic valuation
In Spain, the multi-agency system means agents can flatter sellers by overvaluing the property. The truth may hurt, but if your house is significantly overpriced you risk spending several years trying to sell it when it could have been snapped up quickly. This can be a common problem when sellers go back to the agent who sold them the house and cannot accept the news that the house has depreciated by 10 or 20% since the sale. Don’t be afraid to ask for several valuations from different agents.
EXPERIENCED ENGLISH SOLICITORS & SPANISH ABOGADOS
7
Looking to buy a Spanish property? Contact us for your free guide to buying Spanish property safely & securely. We provide a wide range of legal services including: Conveyancing
Litigation
Inheritances
Road traffic accidents
Spanish wills that comply with EU regulation 650
Personal injury & medical negligence
English wills
Company law
Family & divorce
Email: enquiries@mylawyerinspain.com Telephone: (+34) 951 203 094 from the UK 0845 508 2395 www.mylawyerinspain.com Offices: Marbella, Torrox, Murcia, Almería, Alicante & Valencia.
5
Get plans made
Whereas pouring through British property magazines you might get a floor plan for each property, it is ‘not the done thing’ in Spain. But since the majority of UK buyers will request them, it is recommended to pay to do the job (by a surveyor) and supply all the agents with the plans to properly inform buyers. Videos of the house interior and grounds are also growing in popularity in the current climate.
Know your taxes
This is the most important thing. A massive 70% of sellers don’t know what they’re in for where taxes are concerned, says Adam. And the other 30% haven’t got their paperwork in order. “This can be an unmitigated nightmare,” confirms Adam, who recommends investing in a reliable lawyer or gestor. Get a full tax breakdown of your tax position before you put the house on the market to be in a strong position.
8
Invest in a bank valuation
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Some sales fall through because of the bank valuation is way out line with the property price. The to Bank of Spain has been known down grade by 20% lower than the agents which can trip up mor tgage possibilities. Get a head star t and value your home first via the bank.
Consider your circumstances
Sellers afflicted by the four Ds (debt, death, divorce or downsizing) are usually especially motivated to sell which calls for an efficient agent who can price the house right. In a market that won’t be rushed, your house will either need to be extremely desirable or extremely discounted to sell fast.
10
Signpost the sale
Some sellers are embarrassed about ‘for sale’ signs because they don’t want their neighbours to pry. But for sale signs really work.
Property
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May 25th - June 7th 2016
ARK angels Arkitects Sotogrande: redefining architecture THEY are easily the coolest architects on the coast. Arkitects Sotogrande, better known as ARK, boasts an impressive collection of extravagant-modern homes scattered across the Costa del Sol and beyond. And designing properties in La Zagaleta, San Roque Club and Marbella, ARK caters for clients looking for a life of luxury. With a multi-disciplinary team of technical architects, boasting more than a decade in the construction sector, ARK specialises in unique design as well as building and town planning. The company is also committed to developing traditional materials and techniques to capture eye-catching results. All of its projects are thought out in meticulous detail combining modern state-of-the-art techniques with classic architecture. And the results speak for themselves. Using traditional materials such as iron,
mortar and copper, ARK’s homes are designed with the landscape in mind. They may be modern hubs but they perfectly complement the Andalucian backdrop. For ARK, the landscape and surroundings are also just as important as the actual house itself. Designed to be enhanced by their surroundings, ARK properties ensure maximum advantage is taken of the Mediterranean sunshine, through lofty windows to provide as much natural light as possible. But ARK’s homes are not just beautiful on the outside. The company is also closely involved with the interior decoration, creating the home as a whole. The company is located in Sotogrande’s Centro Comercial. For more information call 956 793 166 or visit www.ark-arquitectos. com
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www.theolivepress.es
Making valuations and the benefits of buying property from banks
Bargain or snare?
W
Marbella Real Estate Photos NEW on the Costa Del Sol Prices from EUR 90 + IVA Get those all important viewings with good pictures
www.marbellarealestatephotos.com
HEN we carry out valuations, we check many sources for information. We are members of multilisting websites; we scan the free ones; we check for the address on Google; we check our sales records and other relevant information. We do include valuations that we’ve done in the past, if at the same urbanisation or pueblo, as they have been prepared based on market information and it also helps with consistency. We keep our searches to as tight a location as possible and ensure that we are comparing like with like as much as feasible, while accepting that each property is unique in its size, accommodation, services, age, aspect, character and the host of other objective and subjective items that are all put in the valuer’s mind. These are then ‘sifted’ through and eventually we arrive at an opinion as to what the prudent person in possession of all the facts would pay for one property as against another. In carrying out all that research we come across a great deal of widely varying information, from inaccurate, fictitious and negligent, to helpful, factual and true. No one source can be opinion-free as even a cold banking website is there as a selling tool. Sometimes what’s being sold is not just the property, as it can be just an attraction to draw the buyer into another matter. Banks use the property to attract customers for all their services, such as insurances, monthly income depos-
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May 25th - June 7th 2016
11+
years experience in
ALL PROPERTY MATTERS
RICS SURVEYORS & VALUERS BY BUILDING CAMPBELL FERGUSON
For peace of mind follow these property buying rules Find Your Property
Instruct Building Surveyor
Instruct Lawyer
Buy with Knowledge & Confidence
+34 952 923 520 admin@surveyspain.com surveyspain.com
its and the like; with the loss the bank might make on selling below the original mortgage level, being balanced by the benefits of bringing in a new, financially sound client, who can be encouraged to take on a high mortgage, perhaps at 110% of the selling price so that all costs are covered too. At this time of a bottomed market it’s much safer to do that with the potential for values to rise being stronger, we all hope, than for them to fall. It’s always been one of those strange and illogical occurrences for banks to be tight on lending when a market is
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down, but splashing their money about when the market, and the risk, is high. The buyer in these circumstances also has to be wary as, if they buy at above the market price and then have to sell shortly after, they are going to take a large hit as they can’t offer mortgages and they will be competing against banks who may be their next-door owner/sellers. When all the costs of buying and selling are added, would they have been better looking for a non-bank property at a realistic market price and having a choice on the mortgage they could get?
Contact Campbell and the team on +34 952 923 520 or email info@surveyspain.com
Register your tourist property or else...
O
N May 11, the Junta de Andalucía's new rules for tourist accommodation became law, requiring owners who plan to rent out their properties to visitors this summer to have registered with the Andalusian Tourism Registry (RTA) or risk a fine for operating outside the law. A recent article on idealista.com reported that, in the three months since the decree was passed, only 3,000 properties have been registered with the RTA, although almost 14,430 applications for information have been made to the Junta's Tourism and Sports department. With up to 80,000 properties, containing as many as 800,000 beds according to the Tourism and Sports department's estimations, regularly rented out to tourists across the region, however, it seems many owners are hoping that they and their properties will slip under the radar. But, from now on, if an owner does rent a property for tourist accommodation in Andalucia without having previously submitted a declaration of responsibility and having received a unique registration number from the RTA, fines from €2,000 to €18,000
Now Andalucia’s new holiday rental rules are in force, enforcement won’t be long coming. If other regions are any example, it pays to register can be levied. In Ibiza, the local government is adopting a hardline approach to controlling illegal holiday rentals, in line with regulations introduced in 2012. To date, just 1,500 properties have been registered on the island, offering 5,000 beds to tourists, and there are another 5,000 pending approval, but this is just the tip of the iceberg. This May, El Consell de Ibiza revealed it is using an IT application to comb popular websites for 'pirate' accommodation. Reportedly, 20,000 beds have been identified in 4,500 properties on one site alone. An advertising campaign has been launched to remind owners, estate agents, and tourist operators that fines for illegal rentals can be between €4-40,000.
The Property Insider
by Adam N
eale
In Barcelona, Spain's most popular destination for tourists by far, Ada Colau, the city's first female mayor who came to power last June at the head of the Barcelona en Comú coalition, has recently extended a moratorium on new tourist accommodation that she introduced soon after taking office. Colau's predecessor, Xavier Trias, already 'declared war' on illegal tourism rentals back in 2014, after a wave of incidents involving often drunk tourists and irate local residents turned the tide against the rise of unregulated tourist apartments. To date, just over 9,600 licenses have been granted by the Town Council, but an estimated 6,000 other properties are not complying with Catalunya's new tourism legislation, introduced last summer. Barcelona's council has already begun to issue fines which can reach as much as 600,000€. While the potential cost of fines in Andalucia pales in comparison with Catalunya, if the experience of owners in other areas of Spain that already have tourist rental regulations in place is anything to go by, my advice would be to ensure you and your property comply fully with the new law.
Terra Meridiana. 77 Calle Caridad, 29680 Estepona. Tel: +34 951 318480. Office Mob: +34 678 452109 Email: info@terrameridiana.com. http://www.terrameridiana.com
Property
REDUCED BY €25,000
GAUCIN €450,000 A spectacular village home, Gaucin, Costa del Sol
www.theolivepress.es
REF: WW529
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May 25th - June 7th 2016
MANILVA €475,000 REF: WW558 Last remaining 4 bedroom townhouse, Manilva, Costa del Sol
A delightful three bedroom detached house in an enviable location within Gaucin village. This property has masses to offer including spectacular views from every room, a private pool and pretty courtyard garden. This special property is priced to sell. Breathtaking views, jacuzzi bath, solar panels, outside dining, fully fitted bar. Bed 3 | Bath 2 | Plot 203 m2 | Built 168 m2
This spacious 4 bedroom townhouse is located in a secure gated resort, which has landscaped gardens, 4 communal pools and children’s playground. Close to golf course, sea and mountain views, utility room, fully fitted kitchen, large basement, garage, fibre optic and Sky TV. Bed 4 | Bath 4 | Built 247 m2
MANILVA €249,000 3 bedroom penthouse, Manilva, Costa del Sol
ESTEPONA €295,000 An immaculate townhouse, near Estepona, Costa del Sol
REF: WW557
The property is positioned on a stunning hillside and has great views of the sea and mountains. It is only a short walk to vineyards, golf courses and the beautiful marina of La Duquesa. Totally refurbished, communal gardens and pools, rooftop jacuzzi, golf course views, laundry room, gated community Bed 3 | Bath 2 | Built 148 m2
tel: +34 952 880 941 info@winkworth.es www.winkworth.es
REF: WW543
A wonderful four bedroom townhouse located in a popular urbanisation close to both Estepona and San Pedro. Offered for sale in immaculate condition and benefitting from direct access to a stunning communal garden & pool. Close to golf Ccourses, outside dining, marble floor, utility room, south west facing, established community. Bed 4 | Bath 2 | Built 178 m2
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www.theolivepress.es
May 25th - June 7th 2016
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**
Fully upgraded apartments with a further 30% discount*. Now available from only 189,900â‚Ź. 8 communal swimming pools set in tranquil, landscaped gardens. Spectacular views of the Mediterranean & Africa. Surrounded by 3 established golf courses in Elviria, close to central Marbella & Puerto BanĂşs. * Discounted from 2015 prices. ** Fully licensed Marbella Properties.
For sales information please visit
R EAL
C APITAL
www.retreatsantamariavillage.com/olive sales@retreatsantamariavillage.com Tel: +34 951 239 866
SOLUTIONS commercial partner Smart Property Professional