Property
Spain Property Guides
olive press
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GO GIRL: ‘Home-saver’ awarded MBE
Page iii
Celebrity comings and goings
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Fight to save Mijas’ oldest farmhouse
Page xi
Bilbao’s most powerful tower
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July 20th - August 2nd 2016
Don’t get caught out when buying in Spain
Issue 9
When money talks From €29m to €2,900, we found a Spanish property to suit every budget
Brexit bounce BACK? AN Olive Press panel of seven experts has gathered to discuss the impact of Brexit on the Spanish property market. While, they confirm the market has suffered from initial knee-jerk reactions, they remain optimistic, expecting the market to bounce back once the dust settles on the political landscape in the UK and Europe.
While Brits make up a large amount of the market, others like the Scandinavians and new arrivals like the Polish are filling in the gap left by the drop in British sales. But the lull is widely seen as temporary, with the think tank insisting once the exchange rate stabilises, things will return to normal. Read the full Observatory, Part II from page 14
Spain Property Guides
THIS stunning property has come onto the market near Marbella for a staggering €29 million... Given, it is out of 99.9% of our readers budgets, we thought we’d have a hunt around for something cheaper, in the price ranges of €2.9m, €290,000, €29,000 and even €2,900. It’s actually a pleasant surprise what you can get for under €3,000 these days, including this lovely plot below...just don’t expect a prime Costa del Sol location. Turn to Page 32 to find out more
OPTIMISTIC: Panel
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18 the Olive Press November 14th - 25th 2016 €450,000
€295,000
www.theolivepress.es
CADIZ €450,000 REF: WW589 Ongoing business opportunity, El Puerto de Santa Maria, Cadiz
LA QUINTA €295,000 Fabulous 2 Bedroom Apartment, La Quinta, Costa del Sol
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Fabulous 2 bedroom apartment with the accommodation all on one level. The property is beautifully presented and has stunning views to the La Concha Mountain and the sea. Air Conditioning (Hot/Cold) / Communal Gardens and Pools / Covered Terrace / Electric Blinds / En-suite Bathroom Bed 2 | Bath 2 | Built 146 m2
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Property
www.theolivepress.es
July 20th - August 2nd 2016
Shoppin’ in the USA
RITZY: Park Avenue
The Great Escape
MORE UK residents are considering a move abroad in the wake of Brexit. Searches by UK residents to move abroad jumped 30% following the referendum result according to data compiled by cost of living comparison website Expatistan. In the two days after the UK voted to leave the EU, comparisons between UK cities and non-UK cities on the site increased by 50.8% from the week before. The website also found that there was more interest in moving abroad from cities with higher percentage of Remain votes. Canada, Germany, and Thailand were the most popular countries researched.
SURGING: Malaga
Mala-gains
MALAGA has seen the highest property price increase in Andalucia. A new report by TINSA, the leading Spanish property valuation society, has revealed enviable year-on-year increases across the whole of Malaga province. Casares, Torrox, Torremolinos, Mijas, Malaga city, Nerja and Marbella all saw the price per square metre increase by more than 5%. Only Fuengirola and Rincon de la Victoria saw slight decreases. Malaga also had the highest volume of sales, with 39.3% coming from foreign buyers. Meanwhile, a global ranking of 150 cities by their increases in property prices has shown a 4.9% increase in Malaga city. The report, conducted by London real estate consultants Knight Frank, listed the Costa del Sol city at number 70.
SPANISH fashion mogul Amancio Ortega has been on a real estate shopping spree across the Atlantic. Ortega, the founder of Inditex, the firm behind brands like Zara and Massimo Dutti, has most recently snapped up the Murray Hill hotel in New York for €61 million. Boasting 205 rooms in 83,000 sq ft on Park Avenue, the neoclassical-style
dwelling was built in 1928 and will now be operated by Spanish hotel company Grupo Iberostar. Ortega bought a further two properties stateside last year through his property investment firm Ponte Gadea. He splashed €130 million on an office building in New York’s Soho district in December, after buying up an entire block on Miami Beach for a cool €333 million.
Congratulations Maura!
19 III
On the up
RESIDENTIAL property sales in Spain increased by 23.6% in May year on year. The figures from the National Statistics Institute are the highest since January 2013. The bulk of the increase came from the second-hand market and the sale of new homes, which increased by 26.7% and 12% respectively. The highest number of home sales per 100,000 inhabitants was recorded in the Balearic Islands and La Rioja, while Andalucia registered the most home sales in total, followed by Catalunya, Valencia and Madrid.
Expat receives royal honour for service to British homeowners in Spain
By Rob Horgan
WHEN Maura Hillen packed her bags and headed to Spain nine years ago, she could never have imagined what a pivotal role she would end up playing in the lives of hundreds of expats. Leaving her busy life in London’s banking sector, Maura and husband John moved to Albox for a ‘slower pace of a life in the sun’. But it didn’t take her long to get involved in local politics. In fact, just one year after setting up in Spain, Maura was named president of Abusos Urbanisticos Almanzora No! (AUAN), a body that defends property owners. Since then she has spent the best part of a decade fighting battles on behalf of the hundreds of expats wronged by the property system (Not to mention being voted into local council where she currently acts as deputy mayor for Albox.) And now, eight years since she took the reigns at AUAN, Maura, 53, has been awarded an MBE for her services to the British community in Spain. “I am of course very pleased but AUAN is a collaborative effort and I see this as more of an award for the association and its members than me personally,” Irish expat Maura told the Olive Press. “It is a real vindication of our efforts over the last 10 years and we are all delighted.”
Collaborative
In total, AUAN represents 500 expats, mostly British, Irish and Belgian. Under Maura’s leadership the association has defended the rights of homeowners, won compensation claims for countless victims and even forced change in Spain’s murky legal system. Her personal highlights include watching the Spanish senate vote ‘virtually unanimously’ to amend the criminal code in March 2015. This allowed a person who had purchased a property built without planning permission by a rogue developer to be compensated prior to demolition. Her work also led to a change in administrative law, to allow compensation to homeowners when their planning permission was revoked due to an error on the part of the administration. But, for Maura, greater things are still to
IN QUESTION: Axarquia homes
LEGALISE IT
HONOURED: Maura Hillen to recieve MBE
Tireless contribution
British Ambasador to Spain, Simon Maley: “SINCE 2008, Maura Hillen MBE has made a tireless contribution towards resolving the property problems that affect thousands of British homeowners in Spain. I am very pleased that Her Majesty The Queen has approved this honour, which recognises her dedication and resilience. “Under her leadership, AUAN is a professionally-run, well-respected organisation that has secured expert legal advice and in turn proposed realistic solutions to the Spanish regional and national authorities. come. “My proudest moment is yet to come but it is coming soon,” she said. “On July 2021 the parliament of Andalucia will vote on a bill to amend the planning laws of Andalucia (LOUA) which will allow many more properties to become legalised. “There is every indication that this bill will be passed. This will be my proud-
THE Junta is in talks to rectify a law passed in 2012 that restricted many property owners’ ability to maintain or modify their buildings. Save Our Homes Axarquia (SOHA) proposed amendments to provide a framework for the owners to legalise their homes. Under the current law, the houses are recognised, but the owners cannot take out a mortgage or receive planning permission, severely limiting what they can do with their property. SOHA estimates that the new legislation could affect upwards of 10,000 homes in the Axarquia.
Top of the props HIGH PRAISE: Manley “I know Maura intends to keep campaigning for more action to resolve outstanding cases and to increase the legal security for future buyers.” est day.” Maura is also determined to finally win compensation for Len and Helen Prior whose property demolition nightmare has been ongoing since 2008. And she has already begun work to see a reform of the Land Registry. Clearly as determined as ever, Maura deserves all the praise she gets.
DEMAND in Spanish property has reached a 10-month high, becoming the most popular country among overseas buyers. One in eight visitors to Themovechannel. com were enquiring about properties in Spain, the highest amount of interest it has had since last September. “With UK buyers accounting for a significant portion of users, June’s Top of the Props report proves that Brits are far from out of love with Europe,” said Dan Johnson, Director of Themovechannel. com. “Spain, however, is not just a European lifestyle favourite, but a sought-after opportunity for investors. The country’s economy has been steadily growing each quarter since the third quarter of 2015, with property prices also having bottomed out in key areas. “The country remains attractive for EU and non-EU buyers alike.”
IV
Property
Short term pain, long term gain
www.theolivepress.es
July 20th - August 2nd 2016
20
Yes, some British buyers have pulled out, but the Olive Press’ second Property Observatory discovers a panel of experts optimistic post Brexit much thanks to buyer diversification. By Laurence Dollimore
T
HE EU referendum was always going to have an impact on the property market in the British buyers favourite of Southern Spain, the question was which way?. Now after months of divisive campaigning, the nation voted for Brexit, sending shockwaves around the world and throwing up many questions, most of them still unanswerable. But of all the talk of doom and gloom and ‘the end of the world’ narratives, what has really happened to the Costa property market in the short term? The Olive Press sat down with a panel of seven local property experts, from cur-
rency analysts to surveyors and developers to lawyers to ask what they have seen so far… and, perhaps more importantly, where they see the market going this summer and towards 2017. This month’s roundtable discussion, hosted by Real Capital Solutions-SPP, in Centro Plaza, Marbella, included SPP boss Taylor Cox (TC), alongside: Mark Rickard (MR) from Smart Currency Exchange, Alex Radford (AR) from My Lawyer in Spain, Campbell Ferguson (CF) from Survey Spain and estate agents Scott Marshall (SM) from PropertieSpain, Jerry Kyrk (JK) from Fastighetsbyran, , and Adam Neale (AN) from Terra Meridiana.
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LEFT TO RIGHT: Alex, Taylor, Scott, OP editor Jon Clarke, Mark and Campbell
BREXIT BLUES
Market loses around 20% of British buyers Optimism however over a bounce back British sellers more likely to negotiate High end market least affected
SM: I lost two sales the day after Brexit on June 24 and have had several cancelled appointments. Many others are now just waiting for the market to stabilise, they say ‘we like it and we want it but we will wait’ until it all calms down. Luckily, we have diversified rapidly to market to other nationalities and have luckily had more interest from Belgium and other European clients since then and things are still attractive here because the prices are still low. CF: We had three surveys cancelled the day after Brexit, which says it all. AN: We also had a few clients pause for sure, but we envisage them coming back once the exchange rate starts to improve for the pound. It has created uncertainty and dropped the exchange rate making it more expensive for UK buyers, at least in the short term
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TC: Obviously uncertainty is never good for the market, we lost 20% of our British buyers (post Brexit), which is not great but it’s not catastrophic. The realities will not be known for more than two years, the real interim game is the currencies, with around 50% of our British buyers now waiting for Sterling to stabilise before they jump in. But I would say the drop in the pound is more a problem for the sub €200,000 market. I would be more nervous for these sales because the buyers are on tighter budgets and could feel the difference. People with money who are buying in places like Marbella, they don’t like to wait around. On top of that, if you’re British, where else are you going to go? It is still Southern Spain. The sun is still out. Turkey and Egypt are too dangerous, Florida is too far away and the dollar too strong, Spain is still the best place for a holiday home. Some pessimistic people will remain nervous but I think things will stabilise and return to normal fairly soon.
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involved in euros in the purchase it means the buyer’s exposure is minimalised wealthier buyers with spare cash will push on because they want their property now and have probably set their sights on it a long time ago, they don’t like to wait or to put their lives on hold. JK: I noticed in the run up to the vote that the Scandinavians were definitely more reluctant to buy and nervous about the result, but ever since it has been fantastic and they have jumped back in. I think they were simply more concerned about the vote itself than the actual result and our sales at Fastighetsbyran have actually been better in July than in May and June combined. I guess they realised that the world has not ended and have carried on with business as usual. MR: On top of that, buyers can also now negotiate more and get a discount, to make up for the loss with the pound. It is also possible to do the purchase in Sterling if the sellers are British, although some notaries are not keen on it, due to the tax complications, so don’t count on that always being possible. AR: That said, my legal firm is seeing more and more people doing a large chunk in pounds, say 20% in euros and 80% in Sterling. Yes, sure some notaries don’t like it, but some are happy with it, so you just have to find the right notary. AN: My advice to UK residents living permanently in Spain is to stay calm and see what happens. Both Europe and the UK need each other, Germany runs a trade surplus with the UK, the UK is the third most important export market for Germany after the US and France; in contrast the UK is the ninth most important country for imports to Germany. Both sides have very good reasons to negotiate an amicable divorce settlement. The pound will bounce back
Property
www.theolivepress.es
July 20th - August 2nd 2016
21 V
ARE PRICES SET TO GO DOWN? TC: I don’t see prices decreasing because we are dealing in quality assets, and there aren’t many quality assets around today, the supply/demand ratio is still very much in our favour regardless of Brexit, people still want mid-market or high quality homes.
where British sellers are concerned. The British will be more willing to negotiate now. In the prime locations however, I expect them to stay the same or go up a little. It is more in the lower end of the market where prices will be affected more.
AN: They are definitely going to continue going up
MR: The Spanish are also coming back to the coast again, from the key cities of Granada and Cordoba, and they are a much bigger market than the Brits, so
CF: I don’t agree. I think they will actually go down, particularly
they will be making up for it... leading to price increases. SM: On top of this, it is so hard to get licences to build, so it is becoming increasingly difficult to achieve all three criteria Location, quality and price. To get all three nowadays is pretty difficult, last year or the year before no problem, but this year it’s much harder, so that makes sure prices stay up and continue to rise.
CF: People are jittery in Sotogrande because if the PP stay in power they are going to be far more likely to push for joint sovereignty of Gibraltar and make things very difficult. The old Franco-faction of the party has a fixation on Gibraltar and see Brexit as their golden opportunity. Workers are nervous about buying in Spain and working in Gib. It means more people are looking on the Rock because they do not know if they will be able to get to and from Spain each day.
Nationality trends Polish and Chinese new arrivals Arabs returning More South American investment
MR: The Polish are buying a lot more at the moment, and I have heard quite a few South Americans are coming too, particularly from Argentina. CF: Yes there has definitely been an increase in Polish buyers, it is a growing economy and there are many Polish who have made money in the UK and Ireland and they are now investing what they have earned into a holiday home in Spain. AR: We actually had a Polish sale today. Cultured buyers who actually bought a place in Granada city after earning their money elsewhere, so yes definitely a growing market. TC: Development-wise there is an increase in South
The Olive Press property observatory panel this issue included
Taylor Cox
American interest too, there are now three big Chilean funds buying up land and properties here. JK: In addition, the Scandinavian market is continuing to grow and this month has been crazy, but I have also seen an increase in Chinese buyers and due to an improvement in oil prices a lot more Arabs are coming back. SM: In terms of small buyers the Americans are coming and lots of Canadians too, in fact two of the biggest funds out here right now are American. AR: Yes lots of Canadians, it’s such an international market here and that seems to be becoming even more so now.
Alex Radford
Campbell Ferguson
SM: I agree that the government could
NEW RENTAL LAWS Rent likely to increase Can add value to property CF: It will affect the low level market a lot more because they look to rent out their properties on the cheap, so they are losing out on the extra costs. AR: We have had quite a lot of registrations since the new rental laws actually, and it is not too expensive, it’s reasonable, and it’s more straight forward now as there are no grey areas, you just have to pay your tax, end of story. CF: Additionally, if the property complies with the laws it will actually earn more in rentals than those that don’t, because you have a stamp of approval and it increases the confidence of your clients. JK: Rent prices will go up for sure, it is what happened in Barcelona and Madrid and for sure it will happen here, but that will lead to more people wanting to buy so I guess it’s good for us.
Jerry Kyrk
Mark Rickard
Concerns for Gibraltar
Fears of a PP government Jitters in Sotogrande Increase in interest on the Rock
make things very difficult at the border, especially if PP gets into power again. Foreign Minister Margallo has made it clear what his intentions are. JK: Gibraltar is very important to Spain’s economy, particularly on the Costa del Sol. They do spend money here, from Sotogrande to Marbella, in particular, so I think to undermine that would be a bad move. AR: I agree. I am sure they will keep the border open, Spain relies a lot on Gibraltarians spending their money here. I think the UK will spend six months debating what relationship we are going to have with Europe and I think we can negotiate for many of the same terms we had before. MR: But let’s remember Spain does what it wants, whatever logic there is, whatever Brussels insists, if they want to close the border they will close the border. Continues Page 22
Scott Marshall
Adam Neale
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VI
Property
www.theolivepress.es
July 20th - August 2nd 2016
THE HOTSPOTS
MIXED FEELING: On Banus, (inset) Manilva and (below) Benahavis
Axarquia still up and coming Quality properties in demand New shopping centre in Torremolinos a potential ‘game changer’
TC: Estepona to Mijas is still the key area to buy, although I personally love Sotogrande because I think it is so well laid out, but I do think the impact of Brexit may be felt there for a while because of how close it is to Gibraltar. I think going East is the logical way to go, and all the way to La Herradura, which is a great spot.
na will continue to grow. I know someone building 700 homes there at the moment, and soon there will be the massive shopping centre in Torremolinos, which will be huge. TC: That new centre is going to be incredible, it could change the game there for sure, Benalmadena and Torremolinos markets will benefit a lot from that.
SM: Estepona is doing very well right now as are Nerja and the Axarquia region. What is important is that you are not more than 50 minutes away from a good airport, otherwise you might have trouble selling.
AR: I also know someone who is thinking about building 2,000 properties in Nerja, but I think Torrox and Rincon de la Victoria are going to see the best growth in the Axarquia because they have less restrictive planning laws and are nearer Malaga.
AR: That rules La Herradura out, but Nerja is definitely fine. I also think Benalmade-
General trends
Manilva shaky, while Banus is also losing its edge Benahavis more international British dominance fading
TC: There are funds increasingly buying up land and renovating developments in Manilva and around that way, which can be a fun game to be in, as long as you’re the cheapest product, because as soon as a big half built site next door is liquidated by Banco Popular, whoever, and another fund gets in there and undercuts you, you’re dead in the water. CF: I heard that the top level are not coming into this area as much because places like Banus are just so terrible as an environment, they need to clean it out. The high quality shops like Gucci etc are also having second thoughts because they are finding that people are just not coming to them as much, they’re wondering if Banus has lost its spark. JK: I think Banus is still a magnet. It still brings people and I think we slowly see that
STUNNING: Axarquia towns such as Competa, could be in line for a boost
PRIMROSE R E A L E S TAT E
as new restaurants and new places are opening, but of course the second row is more sleazy as it always has been. Maybe there should be an effort to clean it up a little. CF: I have seen changes in the makeup of Benahavis, it used to just be Brits, but now we are seeing Belgian, German, Dutch, mainly it used to be British but it’s changing. AR: In general the market here has become increasingly international, I know Mark’s currency clients here were from 25 different nationalities, whereas ten years ago it was like 80% Brits, but now that’s all changing, this is an international market, the Scandinavians love coming down here, the Germans, Belgians, Arabs etc, the Brits no longer have such a big hold on the market. They are big, but after Brexit, slightly less so.
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VIII
Property
www.theolivepress.es
July 20th - August 2nd 2016
24
Keep calm and carry on
THE dust has settled on the post-Brexit property panic. In place of worry, practicality has taken over and Costa del Sol property expert Andrew Dodd is ready for normal service to resume. “Brexit left us in shock, but things are already getting back to normal,” Andrew, sales manager at Homefinders explains. “The immediate reaction was understandably to panic. We received a lot of calls from buyers and sellers who were worried about the impact of Brexit, but after a week things started going back to normal.” He added: “The first call I received on Friday morning was EXPERIENCE: Homefinders from a Scottish couple who wanted to pull out of their pur-
I
n the short-run I expect the UK's referendum vote to leave the EU to have a depressing influence on the property market in Malaga and Alicante, where the British have long been the biggest group of foreign buyers. More than anything, British demand is driven by the strength of the pound relative to the euro. When the pound goes up, British demand follows with a lag of about one or two quarters before it shows up in the property registry's sales figures. So British demand surged in the second half of last year on the back of a strong pound, then dipped slightly in Q1 this year after the pound started to slide. The Brexit storm has subsequently pushed the pound to a two-year low against the euro, so when the Q2 & Q3 figures come out later this year, I expect to see a significant reversal in the growth trend that started in 2013. It's not just the pound, of course. The uncertainty generated by the Brexit vote is also a problem for British buyers, especially those thinking of relocating to Spain. How will rights to health care, pensions, public education, and freedom of access be affected by the UK's exit from the EU? What will the new order look like? Nobody knows for sure, which will give a significant number of people cause to put their buying plans on hold for now. But I suspect that, if Brexit had led to a surge in the value of the pound, British demand would have increased regardless of the uncertainty. Purchasing power trumps other consideration. Looking ahead the markets seem to think the outlook for the pound isn't great, so we may be in for an extended period of weakness in British demand affecting lower and mid-market segments on the Costa del Sol and the Costa Blanca, and to a lesser extent the Balearics and Canaries. With fewer buyers around
Mijas estate agent is already seeing post-Brexit bounceback
chase despite searching for their dream home for months. “However, after the weekend they called back and decided that nothing is really going to change in the long run and now they are continuing with their deal.” And it is a trend that Homefinders are seeing time and again. After an initial slump as buyers and sellers worried about life after Brexit, the market has begun to pick up and things are getting back to how they were before June 23.
“At the end of the day, Brits didn’t go on holiday or move to Spain because it was part of the EU,” Andrew adds. “Brits came to Spain for the sun, the beach, the food and the lifestyle; none of that has changed. If someone had their heart set on retiring to Spain, Brexit won’t change that.” In fact Dodd believes Brexit may in fact encourage British expats to fast track retirement plans in order to get the move done before Britain officially leaves the EU. Homefinders was established in 1999 and the team has more than 40 years experience between them. For more information visit www.homefinders-network.com or call 952 493 290
What next for British demand?
Market analyst Mark Stucklin takes a look at life after Brexit for the Spanish property market
vendors might have to adjust their price expectations fore, but it is interesting to note how the Brexit vote is down in search of a buyer. But some professionals in influencing people's expectations. the business report the upper end of the market ap- Judging by recent comments from British PM Thepears to be unaffected by Brexit so far: It seems that resa May and Brexit Minister David Davis, if a deal people with money who can afford to is going to be struck, it will only do so will buy regardless. apply to people already classified I've also heard reports from agents as expats by a certain cut off date I have seen of a bounce in British interest since (a reciprocal deal affecting British the Brexit vote, perhaps led by Britexpats in the EU, and EU expats dramatic increase ons who are disillusioned with the in the UK). If that is the case, idea of living in the UK outside of Eu- in Britons looking anyone thinking of relocating to rope. And I for one have seen a draSpain should do so sooner rather into Spanish matic increase in the number of Britthan later, whilst the UK is still a ons looking into the Spanish 'Golden full member on the EU. But then ‘Golden Visas’ Visa' scheme, which gets you qualiagain, who knows what the new fied residency in Spain in return for order will look like, and how long it an investment of €500,000 or more will take to set up. in Spanish real estate. I think Britons seriously con- What about the long-run implications? As nobody sidering this route are over-reacting, as I guess we knows, it's guess work for everyone, and all depends will end up with a deal that allows expats to live in Spain on more or less the same conditions as be-
on your expectations for the UK's future outside the EU. If you think the UK will go into relative decline outside the EU, then you have a reasonable investment case to make for investing in Spanish property, which is now remarkably cheap after eight years of crisis and price declines (though high transactions costs in Spain are bad for investment returns). In this scenario the pound will go down and Spanish house prices might rise, making Spanish property a good investment for Britons, who also get the utility value of a home in the sun. And there's never been a better time to use the biggest mortgage you can afford to buy a home in Spain. Long-term fixed mortgage rates are astonishingly low, so you can lock into a 20-year loan with a fixed rate of close to 2%. If you believe, as I do, that inflation is inevitable, then that will also help you work off your loan, whilst leaving you with a bricks and mortar asset with intrinsic value. But if you think the UK has a bright future outside the EU, then Spanish property might not be such a good long-term investment relative to property in the UK, or other UK assets. But if all you want is a holiday-home in a nice place, then sit tight and wait for the pound to recover as the UK confounds the expectations of everyone but the Brexiteers, or buy now with a mortgage and watch all your ownership costs decline with a strengthening pound, whilst putting as little equity on the line as possible. Mark Stucklin runs www.spanishpropertyinsight.com for buyers, owners, and vendors of property in Spain
Survey Spain analyses Brexit’s impact in second quarterly report
11+
years experience in
ALL PROPERTY MATTERS
RICS SURVEYORS & VALUERS BY BUILDING CAMPBELL FERGUSON
Summer of change
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rexit is the biggest item to have hit the market in years. Prior to the vote on June 23, the Pound fell slightly, but the principal effects were in potential buyers waiting for the vote before committing themselves, some with a clause permitting them to pull out of the contract in the event of a Leave victory. Since the vote there has been a marked drop in British interest, evidenced in this office by three pre-acquisition building surveys being cancelled the day after the vote. Foreign exchange companies report that they have experienced a considerable drop in enquiries from the UK, but many more enquiries from Costa del Sol to transfer funds into sterling. After the vote, the exchange rate dropped by 10% and has maintained that low-level, making property purchase here by sterling buyers that much more expensive. However, for sellers wishing to go back to the UK, they are now going to achieve 10% more sterling when they sell. Accordingly, some sellers indicated that they are prepared to drop their asking price and/or permit negotiation on that price. Whilst the British market leads in some areas, it is not the only one and thus buyers from other currencies will have found more bargains. The end result is likely to be a continuing reduction in UK buyers, both due to volatility in the exchange rate, but also uncertainty with regard to health care, working rights, tax levels, etc. The UK political situation has stabilised slightly with the appointment of a new prime minister who has stated ‘Brexit means Brexit’ and therefore the perception in the market will be that it is something that we have to deal with. However, there could still be legal and political challenges to it so in addition to the uncertainty regarding the eventual economic environment for UK passport holders,
there is continued uncertainty as to whether the UK will pull out of the EU and when that might be. Instruct Within Spain, there was also an electionInstruct three Surveyor Lawyer days after the Brexit vote,Building which, as in December last year, was inconclusive. But given that the property markets of the costas are so heavily influenced by international buyers, Buy with Knowledge & Confidence the areas where these buyers predominate are largely unaffected by Spanish national politics. The exception to this and significantly affected by +34 952 923 520 Brexit, are the areas where Gibraltar residents, Connect with us! workers and investors admin@surveyspain.com catering for them have surveyspain.com traditionally purchased. These areas are likely to be significantly affected by Brexit, with concerns that the economy of Gibraltar will be severely hit and even the border with Spain closed as it was in 1969. The Popular Party is also the most strident in its demands for the change of sovereignty for Gibraltar and in continued harassment of businesses, tourists and general personnel travelling to and from the British colony. In general, the market has undoubtedly been shaken by the run up to and especially the actual Brexit decision. However, most sectors of the market are just getting on to deal with it as best they can. The general impression is that most serious potential buyers are unlikely to put their lives on hold for years whilst the Brexit effect is worked out and will proceed, but perhaps with a little more caution than before. Whilst these experiences are principally relating to the British buyer market, as stated above, other nationalities working in other currencies are seeing opportunities left by the absence of the British, which is likely to be a temporary situation. The natural assets of climate and close proximity to northern Europe with a stable government and economy will continue to attract buyers and sustain the residential market.
Contact Campbell and the team on +34 952 923 520 or email info@surveyspain.com
Property
MARBELLA EAST
www.theolivepress.es
Ref: OP9067
Immaculate family villa with breathtaking views
SAN PEDRO DE ALCÁNTARA
Sensational 4-bedroom villa located in the tranquil residential area of El Rosario, within a 5-minute drive to the beach. Gazebo with BBQ and kitchen. Offered fully furnished, ready to live in!
GOLDEN MILE
Ref: OP9130
Stunning 5-bedroom family home in one of Marbella’s most up and coming areas. Privacy and tranquility, walking distance to all amenities.
GOLDEN MILE
July 20th - August 2nd 2016
Built: 341 m² Plot: 2,000 m² Price: € 1,395,000
Modern villa in Nagüeles. Rare opportunity to acquire a fully renovated 3-bedroom villa in an ideal location. Easy and affordable to maintain!
Built: 249 m² Plot: 440 m² Price: € 765,000
Ref: OP7067
Family home in Marbella Hill Club. 4 en-suite bedrooms, stunning sea views from all levels, night security. Lots of potential. Priced to sell.
GOLDEN MILE
Ref: OP9308
Built: 324 m² Plot: 1,390 m² Price: € 1,650,000
Built: 494 m² Plot: 1,500 m² Price: € 1,200,000
Ref: OP7561
3-bedroom corner townhouse with patio & garage in this Andalusian pueblo style complex. 10-minutes’ walk to the beach. Priced to sell.
Built: 159 m² Terrace: 15 m² Price: € 430,000
Offices at the Puente Romano Hotel & opposite the Marbella Club Hotel Tel. (+34) 952 863 750 info@panorama.es www.panorama.es An International Associate of Savills
Regulated by RICS
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For Sale
www.theolivepress.es Prince - While the world is still mourning the loss of this music legend, superfans with cash to burn can get that bit closer to their idol by snapping up Prince’s Marbella palace.The 13-bedroom mansion in “Paraiso Alto” on the border with Estepona is on the market for a princely €5.25 million and, like its owner, it doesn’t do things by halves. The salmon pink des res overlooking the Med boasts an outdoor jacuzzi, a duplex master bedroom suite and a colonial-style double staircase with white marble balustrades sweeping down to a chandeliered entrance hall. All that’s missing is lighting to turn the rain purple.
Buying
Brangelina - Hollywood power couple Brad Pitt and Angelina Jolie fell so in love with Spain they couldn’t help but buy another family home. The eight-bedroom €3.47 million mansion, has stunning views of the Mediterranean and Puerto Andratx, west of the Mallorcan capital of Palma.
Spain has long been a honeypot for celebrities. But while Brangelina, Gillian McKeith & co are moving in, others are buzzing off to pastures new. Laurence Dollimore clues up on the celebrity comings and goings that are leaving some stellar pads up for grabs
Live like a celeb E VER since the Marbella Club hosted the likes of Audrey Hepburn and Laurence Olivier during the 1950’s, the Costas have been a hotbed for an international Who’s Who. Think Russian President Vladimir Putin, now investing in a Marbella hideaway, and Status Quo’s Rick Parfitt who gave up Rockin’ All Over
For Sale
Glenn Hoddle - Score a five-bedroom mansion in swanky Sotogrande for €2.4 million and you get to boast that football commentator and ex-Spurs star Glenn Hoddle once lived here. He’s moving on from Spain after 13 years to explore his love of golf in other parts of the world. The threestorey bolthole boasts spectacular views of countryside and features an amazing pool and sun terrace.
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July 20th - August 2nd 2016
For Rent Audrey Hepburn - While the Hollywood beauty is no longer with us, her Golden Mile mansion in Marbella where she stayed regularly in between filming, is still in tip-top shape. Not yet up for sale, Fine and Country Marbella are renting out this gorgeous beachfront villa for €1,000 per day. The four-bedroom hideaway comes with its own pool and is surrounded by towering horticulture to give you all the privacy you need. A more perfect spot for breakfast than Tiffany’s!
the World to settle with his family in Alhaurin. But life moves on, and so do some of the stars. And while it’s not a case of ‘I’m a Celebrity - get me out of here’ (they’ll miss Spain almost as much as we’ll miss them) there’s always a fresh batch of big-name arrivals to look forward to. And while they pack up, you could move in ...
For Sale
Rick Parfitt - The rock legend is changing the Status Quo and moving on from his Guadalhorce Valley mansion. Nestled into the foothills of Alhaurin El Grande, this sixbedroom, five-bathroom villa could be yours for a cool €995,000. It comes complete with Whatever You Want (more or less) including tennis courts, a swimming pool and a garden to rival any horticulturist’s wildest fantasy.
Buying
Gillian McKeith - The 56-year-old Scottish health guru and hubby Howard Magaziner are said to be in the process of buying a dream property in the soaring Serrania de Ronda. The couple are understood to be buying a 26-bedroom hotel in Cortes de la Frontera.
Property
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High demands SPAIN needs to build 100,000 homes per year for the next 10 years to meet demand. A new report states that by 2025 demand will stabilise at 140,000 homes. This forecast pales in comparison to the near 800,000 homes built in 2005 alone, during Spain’s ill-fated property bubble. The report concludes that by the end of this year, the shadow of Spain’s unsold housing stock in the residential market will have disappeared.
NEW LAW: For Basque hotel
¿Habla Vasco? A NEW law will require hotels in the Basque Country to greet customers in the native language if they want five stars. EH Bildu, the leftist Basque national party, proposed the legislation that prohibits nonBasque speaking hotels from receiving highest marks. “It’s evident that not greeting [customers] in Basque is incompatible with the highest ranking,” said EH Bildu parliament member Isker Casanova.
the Olive Press November 11th - 25th 2015 www.theolivepress.es July 20th - August 2nd 2016
Town hall blasted over ‘neglect’ of historical farmhouse FURIOUS PP members have launched a campaign to save one of Mijas’ oldest buildings. The early 20th century farmhouse, named Las Garcias, sits by an A7 town in Mijas Costa and is described as the only evidence early life in the area. The PP said it condemns the neglect and ruin that has allegedly been allowed to occur under the watch of Ciudadanos, after the rival party broke its pact with the PP in April and assumed full control in Mijas. While the PP had put forward an economic bill to restore the farmhouse when in power, it failed to receive enough support from the opposing
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NEWS IN BRIEF Church going town ALHAURIN de la Torre’s local council announced that renovation has begun on the Torrealqueria district church square.
Big sale
A FIVE-STAR Barcelona hotel, the Pullman Barcelona Skipper Hotel, has sold for €90m.
Growth spurt RUINED: Historic farmhouse under threat in Mijas
Close to collapse
parties. It said in a statement: “The PP of Mijas demands that
the executive, headed by former Socialist Juan Carlos Maldonado, do something,
and start procedures to invite tenders for the rehabilitation of this building immediately.” It is feared the building is close to collapse as visible cracks have begun to appear from young man. “When I was explorthe outside. ing and soul-searchThe PP said it has long ing I realised the hotel business is a place I have always been committed to the felt at home,” he says. idea of renovating the “In every strange land you go to, the hotel is a house and making it sanctuary and a place where you can feel comfort- an attraction, ‘in order able.” to not lose the undeniHe added: “My mission is to enrich the lives of my able historical and ethguests from the doorstep, whether it’s having a cappuccino or helping a young guy propose to his future nographic character’ of the site. wife in the lobby.
New Sunborn skipper
HIS wife calls him the ‘cruise director’. Now Marc Skvorc is taking the helm of the good ship Sunborn Gibraltar. The luxury yacht hotel’s new general manager landed on the Rock after a 25-year career, with spells at worldclass companies like Ritz Calton, Hilton and W Hotels. Following a 12-year stint in Finland, where he founded Helsinki’s award-winning Klaus K Hotel and Sky Lofts, the 49-year-old father-of-two aims to bring the Sunborn ‘to the next level’. But Skvorc was first bitten with the hotel bug while travelling extensively through Europe as a
SPAIN’S residential property sales grew by 23.6% year to year in May, the largest growth in a year since January 2013.
Dirty laundry
POLICE have arrested 11 Russian and Ukrainian citizens who laundered €10m through Spanish property sales.
Hedged bets
A MALAYSIAN investment group, AmProp, will move millions in property investments to Spain. London currently comprises 90% of their property portfolio, but Brexit has given the group anxiety.
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Cambridge grad
Regional Sales Manager Kelly Eason explains how political uncertainty is bad for currency markets
I
F you have transferred funds to or from Spain in the last nine years there is a high possibility that you would have spoken to or been indirectly associated with Kelly Eason. Regional Sales Manager of Cambridge Global Payments, Kelly worked in the financial markets in London in the early ‘90s for over a decade and subsequently worked for many years with two of the UK’s leading currency providers in Spain before successfully joining Cambridge Global Payments - one of the largest global bank-independent providers. Established in 1992 and launched in Spain at the start of 2015, Cambridge Global Payments transfers in excess of €27 billion annually. The firm has grown from strength to strength, all due to the demand from private clients to receive an excellent rate of exchange coupled with an impeccable service. Cambridge is authorised with the FCA, and the measures it has in place to protect and support its clients (including their data and payment transfers) instil a strong sense of confidence. A simple registration process gives clients the option to easily save up to 4% compared to a high street bank on cross border payments. Regarding the recent drop in value of Sterling, there’s no-one better than Kelly Eason to explain. ‘‘Political uncertainty is never good for a currency, and we have seen Sterling suffer tremendously over the last few weeks following the Brexit referendum result
cerned as to the value of their currency now or the value of the currency they intended to buy. “Hindsight is a wonderful thing and we have seen a significant increase in clients employing hedging strategies to protect themselves from adverse market movement. Hedging isn’t a technical or scary term, in this case it just means contingency planning and we can help our clients by offering products that allow for reduction of risk from currency fluctuations and set limit orders with stop losses.’’ Sophie Hull, Client account executive for the Cambridge Global Payments in the Marbella office, adds: ‘‘Exchange rates fluctuate constantly, so whether you are buying your dream home in the sun or repatriating your funds back to your home country, Cambridge Global Payments are here to offer you access to excellent rates of exchange all partnered with a personal & reliable service’’ Please contact Cambridge Global Payments so we can support and offer you options to make the most of your money. If you have never spoken to a currency specialist before then allow us to be your first and if you are currently using a bank or alternative arrangements to convert your currency then why not speak to us DREAM TEAM: Kelly (left) with colleagues to ensure that you have the best deal – you may be surprised. which has understandably sent shock- For a no obligation discussion or to waves through the international financial compare rates why not contact the team on 0034 952 830 176 or email markets,” she said. “Many of our new enquiries were con- costadelsol@cambridgefx.co.uk
Looking for a simpler life?
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July 20th - August 2nd 2016
Whatever happens, sunny Spain will always be one of the UK’s favourite destinations
No change, no fear
W
ELL what a year 2016 is shaping up to be! It is certainly the year of the superlatives... not only is it the busiest summer for holiday rentals on the Costa del Sol, it also brings the most changes and concerns with the new rental laws and the Brexit result. As yet, the UK has not taken any action to officially exit the EU, and when it does do begin the process there will be two years before it leaves. When that happens, sunny Spain will still be one of the best destinations for the UK, either as a holiday guest, owner, or a family wanting a lifestyle change. So, how will all this affect owners of holiday rental properties in Spain? For the foreseeable future there will be no change. The main concern at the moment is the exchange rate, but this can go either
way and the UK is resilient enough to weather this period well. Reports from real estate agents say that the property market is still buoyant and, as predicted, this is also proving to be a very busy summer for the Costa del Sol with accommodation bookings up by significant amounts, which is great news. We are also busy helping our owners register their properties for the new rental law, assisting them with tax advice and helping them to ensure that ownership of a property in Spain is a good experience. In a time of change, we would like to take this opportunity to reassure our owners that we will continue to offer the best service possible to them and their guests to help ensure the future remains bright, and whatever changes or decisions are made, we are always here to help.
Visit www.homecareontheweb.com for more information
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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€29m to €2,900 W When a mansion in La Zagaleta is priced at an eye-watering €29million (one of the most expensive EVER seen on the Costa del Sol) Lance Rutkin asks what can you get for €2.9 million, €290,000 … or even €2,900?
E know it’s one of the priciest places to live in Spain but what are they selling in La Zagaleta? Plots of gold? A €29m public price tag for a villa is a local record-breaker by our reckoning and it’s being advertised now, here on the Costa del Sol. Not to knock the Olive Press salary
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structure but there are no potential buyers in our office, even if it did bring Vladimir Putin’s private life within zoom lens reach of our next exclusive. Instead of forming a penny-pinching pity party, we organised a tongue-in-cheek search for what you can buy a few rungs down the price ladder.
July 20th - August 2nd 2016
€2.900.000
€29.000.000
LAS BRISAS, NUEVA ANDALUCIA LA ZALAGETA
Price: €29m Bed/Bath: 10/10 Area (Building/Plot): 1600/6900 Amenities: private office, library, gym, bar, wine cellar, billiard room, home theatre, bowling alley, golf simulator, sauna, steam baths, salt bath and, of course, that must-have caldarium (ED: what’s that?) Other details: The villa boasts a south facing vista of its flat plot and the Mediterranean. (We also happen to know that deer and wild boar live in La Zagaleta, too.)
Price: €2.9million Bed/Bath: 6/6 Area: (Building/Plot): 730/1595 Amenities: covered terrace, fireplace, pool, golf course access, two-car garage, wine cellar, solarium Other details: La Concha views as the villa sits beside the 18-hole Las Brisas golf course
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MARBELLA
€290.000
€29.000
Price: €290,000 Bed/Bath: 2/2 Area: (Building/Plot): 167/Amenities: AirCon, terrace, marble floors Other details: The penthouse apartment in Elviria offers a panoramic view of the Med, the golf course and La Concha
Property Law • Conveyancing Inheritance • Probate • Wills None Resident Taxes Family Law & Divorces • Claims Setting Up Companies We cover from Estepona to Nerja and Inland
TORREMOLINOS CENTRE
We speak English, Spanish, Scadinavian, Dutch and French
Price: €29,000 Bed/Bath: Studio with bathroom
Area: (Building/Plot): 20/Amenities: Lift Other details: Microscopic rather than bijou but the location has something going for it - two minutes walk from the train station and eight to the beach
And for just €2,900 you can also get these two great deals €2.900
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
€2.900
ALMERIA
Price: €2,900 Bed/Bath: 0/0 Area: (Building/Plot): -/12 Amenities: None Details: The price buys you a plot designated as an open parking space, though it’s very close to the beach. If you want covered parking, an underground garage space will set you back €6,000
AVILA Price: €2,900 Bed/Bath: None Area
(Building/Plot):
-/414m2 Amenities: None
Details: This plot near the Castille town of Avila may require a fair deal of labour, but you could end up rubbing shoulders with former PM John Major, who holidays here
PS...
And if you’ve only got €2900 you could always take this great value offer in your awardwinning Olive Press newspaper
OLIVE PRESS COSTA DEL SOL
€2.900
-
Price: €2,900 Readers: 500,000+ Area: Half-page Details: If property isn’t your preferred investment strategy, consider a more diverse approach. Get your foot in the door of a lot more houses than you could ever afford to buy with a 10-issue, half-page ad campaign with the Olive Press
the Olive Press November 11th - 25th 2015 www.theolivepress.es July 20th - August 2nd 2016
We’re the U.K’s leading retailer of vitamins, minerals & herbal supplements. FUENGIROLA
Miramar Shopping Centre. Local B-20 Tel. +34 952 586 849
SEVILLA
O’Donnell Street, 32. Local 1 Tel. +34 955 673 996
MARBELLA
Ave. Ramón y Cajal, 7. Local 1 Tel. +34 952 766 327
GRANADA
New Opening
Puentezuelas Street, 18 Tel. +34 958 254 954
Holland & Barrett Andalucía Bulevard de La Cala Edif. B, Local 11, La Cala de Mijas, Mijas Costa, 29649, Malaga tel: +0034 952 493 290 fax: +0034 952 493 215 email: info@homefinders-network.com 1A-2063: WELL PRESENTED APARTMENT 1 BED 1 BATH Well presented 1 bedroom apartment boasting brilliant views of the ocean and surrounding mountains. The property is offered to the market with high quality furniture. The apartment includes a spacious open plan living and dining area. The community is very well run and the pool and gardens reflect that. The apartment comes with its own underground parking space, on that floor you will also find a community office where you can take up any queries you may have whilst living there.
110.000 Euros 2A-2582: PRIME HOLIDAY OR PERMANENT HOME 2 BED 2 BATH Offering to the market this 2 bedroom third floor apartment situated in the beautiful town of La Cala. This apartment boasts an american style fitted kitchen along with a terrace overlooking a well kept pool and gardens. Location is key here being minutes away from an array of shops, resturaunts and bars and of course La Calas gorgeous beaches making this a prime holiday or permanent home.
220.000 Euros
2A-2580: BEAUTIFULLY PRESENTED CORNER APT 2 BED 2 BATH Beautifully presented corner apartment in this sought after development. Within 5 minutes walk of the beach and shops and only 10 minutes walk into the centre of la cala. The property enjoys a sunny south west facing aspect with over 30m2 of terrace to make the most of outside living. Comprises: kitchen, lounge, 2 double bedrooms (one-ensuite), shower room and comes with garage and storage space. Immaculate and one of the best on the market so close to La Cala!
220.000 Euros 3V-3109: IMMACULATELY PRESENTED VILLA 3 BED 2 BATH VILLA Immaculately presented villa in a desirable location and within walking distance of amenities, the beach and la cala. Currently a single storey property with 3 bedrooms, 2 bathrooms, kitchen, utility, entrance hall and lounge. The villa has ample terraces with some sea views, a lawned area and a newly fitted pool that enjoys all day sun. A carport provides parking and there is a gym/ guest 4th bedroom. The villa is being sold with plans to build another level. Making it a very attractive proposition.
220.000 Euros
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Agony Uncle
W
July 20th - August 2nd 2016
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With Leon Cohen
HEN I arrived in Spain more than 23 years ago, I had noPick up the phone for a body I could call on to give me less stressful life in Spain advice or help. It was a matter of making decisions and hoping for the best. Sure, there were services available, however I preferred to follow my instinct using my vast experience attained over my many years of working and travelling the world. Was it easy? Hell no, but it was exciting and very interesting. Thanks to having done my due diligence, I began to speak and write in Spanish, understand the rules, culture and dominate the bureaucracy, so much so that I was constantly approached by other expats for help. I had committed myself to refurbishing an abandoned Finca, without water or electricity, for resale. The resale didn’t happen, instead an agro-tourism business was created. This led to a totally new experience where every day I learned something new. Planning regulations, permissions, paperwork, building specifications, all types of bureaucracy, etc. You name it, I touched it. A great learning curve had been established. An inheritance that would be used constantly over the years and still to this day. While the business was active I had constant contact with the locals, expats, holiday makers, farmers, distributors, suppliers of services, etc. allowing me to benefit from such a vast range of information. I soon found myself assisting others, expats and locals alike. To a certain de- FORMER HOTEL: Leon’s finca in Granada gree, I came to be accepted as a type of peculiarities, from assisting people how ‘guru’, someone with knowledge, a kind to deal with their problems, from expats of Mr. Fixit. who needed to obtain a building licence, I found myself confronted with all sorts of obtain a Social Security card, pay their
Here to help
traffic fine, negotiate a property purchase, set up a Spanish business, deal with their tax declaration, find a suitable location for a wedding reception, well, the list is never ending... So that’s why I now concentrate on being of help. I offer those who need to resolve matters and obtain a service of quality. It’s a professional, honest, transparent service from someone who has been there. I have also taken on collaborators, all specialists in their field, professional, honest and able to look after the interests of the client. Quality, service and loyalty before profit, that’s our motto and our reputation is based upon it. How do I function? Very simple, I listen to all that have a genuine problem that they wish to solve. I offer an initial opinion and allow for the client to decide as to whether they wish to proceed. If the client wishes to and I am not able to deal with it directly, I submit it to one of my collaborators, the one most likely to satisfy 100% the needs of the client. I guarantee their work and keep the client constantly aware of the process, hence keeping stress levels to a minimum. Examples dealt with over the past 12 months; Tax returns; property conveyancing; planning permissions; property registration for tourism; NIE documents; Spanish driver’s licence applications; finding and negotiating a venue for an event, just to name a few... Charges and likely costs are discussed at the outset and are assessed in accordance with the complexity of each case.
For more information call Facilitator Spain on 692212567 or email facilitatorspain@gmail.com
MAKEOVER: Lighthouse in Torre del Mar
New horizons
Axarquia lighthouse to finally receive lomg-awaited refurbishment A DILAPIDATED lighthouse in Torre del Mar will be renovated following a €50,000 grant from Velez-Malaga Town Hall. The works, to be carried out by local company Atico Metal, are expected to be complete within the next two months. The town hall plans to install a small information centre and plaques, while the interior and exterior will be restored and the spiral staircase repaired. Deputy mayor Jesus Perez Atencia said: “The refurbishment is necessary now as a historical revindication of the town, to undertake the restoration of an emblematic building.”
Bulevard de La Cala Edif. B, Local 11, La Cala de Mijas, Mijas Costa, 29649, Malaga tel: +0034 952 493 290 fax: +0034 952 493 215 email: info@homefinders-network.com 1A-2063: WELL PRESENTED APARTMENT 1 BED 1 BATH
2A-2580: BEAUTIFULLY PRESENTED CORNER APT 2 BED 2 BATH
Well presented 1 bedroom apartment boasting brilliant views of the ocean and surrounding mountains. The property is offered to the market with high quality furniture. The apartment includes a spacious open plan living and dining area. The community is very well run and the pool and gardens reflect that. The apartment comes with its own underground parking space, on that floor you will also find a community office where you can take up any queries you may have whilst living there.
Beautifully presented corner apartment in this sought after development. Within 5 minutes walk of the beach and shops and only 10 minutes walk into the centre of la cala. The property enjoys a sunny south west facing aspect with over 30m2 of terrace to make the most of outside living. Comprises: kitchen, lounge, 2 double bedrooms (one-ensuite), shower room and comes with garage and storage space. Immaculate and one of the best on the market so close to La Cala!
110.000 Euros
220.000 Euros
2A-2582: PRIME HOLIDAY OR PERMANENT HOME 2 BED 2 BATH
3V-3109: IMMACULATELY PRESENTED VILLA 3 BED 2 BATH VILLA
Offering to the market this 2 bedroom third floor apartment situated in the beautiful town of La Cala. This apartment boasts an american style fitted kitchen along with a terrace overlooking a well kept pool and gardens. Location is key here being minutes away from an array of shops, resturaunts and bars and of course La Calas gorgeous beaches making this a prime holiday or permanent home.
Immaculately presented villa in a desirable location and within walking distance of amenities, the beach and la cala. Currently a single storey property with 3 bedrooms, 2 bathrooms, kitchen, utility, entrance hall and lounge. The villa has ample terraces with some sea views, a lawned area and a newly fitted pool that enjoys all day sun. A carport provides parking and there is a gym/ guest 4th bedroom. The villa is being sold with plans to build another level. Making it a very attractive proposition.
220.000 Euros
220.000 Euros
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Power tower
Torre Iberdrola epitomises Bilbao’s emblematic rise to economic powerhouse status
T
OWERING 165 metres over one of the country’s most populated metropolitan areas, the Torre Iberdrola boasts 40 floors, 22 lifts and the ever essential helipad. Designed by Argentinian architect Cesar Pelli, the financial and commercial epicentre is the tallest building in Bilbao, and has been praised for its elegant, sober lines and its use of glass with travertine, marble and metal. Built in the Abandoibarra district, which has undergone huge renovations, the skyscraper houses mostly office block as well as an auditorium that can hold up to 200 people. It is the first building in Europe to obtain the LEED Platinum certification for its sustainable design - the highest rating achievable from the US Green Building Council - reflecting the city’s commitment to sustainability. The imposing structure is home to almost 40 global companies, including British Telecom, KPMG, Nespresso, Canon, PWC and of course, the Iberdrola headquarters. The presence of global companies is largely thanks to the city’s heavy industrialisation in recent years, which has led to it becoming the second-most industrialised region of Spain behind Barcelona. Mirroring London, it has become a vigorous service city, and is still experiencing an ongoing social, economic, and aesthetic revitalisation process. This began with the iconic Guggenheim Museum (pic above right) and continued with the airport terminal, rapid transit system, tram line, and the multi-purpose venue Azkuna Zentroa. As the Basque economy continues to grow, so too will Bilbao’s development, with the Torre Iberdrola central as the epitome of its successes.
July 20th - August 2nd 2016
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NOT TO BE SNIFFED AT: Tower by the Guggenheim celebrated flower dog
KUTXABANK VIDA ASEGURADORA
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KUTXABANK GESTíON
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PLANTA DE EVENTOS
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TRAINING EXPRESS
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CBRE Y OTROS
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ERNST & YOUNG AVALON
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PWC WILLIS
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the Olive Press November 11th - 25th 2015 www.theolivepress.es July 20th - August 2nd 2016
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The Olive Press – 342 x 256mm (PROPERTY INSERT Page)
20th July
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the Olive Press November 14th - 25th 2016
Brexit seminar with My Lawyer in Spain - What happens next?
In association with the British Chamber of Commerce in Spain Come and listen to the experts
When: 28 July from 17.45 to 19.30 Where: Marbella Golf & Country Club 18.00: 18.15: 18.25: 18.40: 18.50: 19.00: 19.10:
Welcome and networking Setting the scene - Alex Radford - My Lawyer in Spain Notary Alvaro Toro - Impact of Brexit on British people in Spain Legal impact of Brexit - Isabel Perez Blanco - My Lawyer in Spain Mortgages? Fluente Finance Abroad - Marc Elliott Private Health Insurance - Danni Worth - Op de Beeck & Worth Currency specialist: Currencies Direct, Smart Currency, Rational FX & Money Corp What is happening to the pound? Where is it going? 19.20: Q & A Who should attend: British businesses and people
How to find Marbella Golf & Country Club: Coming from Malaga on the CN340, you will find the exit to Los Monteros just 4km before Marbella and Puerto Banús. If you are coming from Marbella the same exit will bring you to the Marbella Golf Country Club in 5 minutes from the centre of the town.
If you are interested in attending please confirm your attendance by email to enquiries@mylawyerinspain.com or by calling +951 203 095 website: www.mylawyerinspain.com
Property
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Project managers can help things run smoothly, as long as they are professionals
The Property Insider
by Adam Neale
What to look for in a project manager
W
HEN deciding on a property to purchase, there’s an oft-cited mantra almost everybody agrees buyers should use: location, location, location. When it comes to project managers, a similar shibboleth could be: experience, experience, experience. And, just in case, it’s well worth adding an extra word—insurance—too. Project managers act for clients at every stage of a building project, from helping select architects and contractors, to ensuring all the paperwork is in place, to supervising the construction process, all to guarantee that the project is delivered to budget, on time, and complies with legal and quality standards. But, just as with estate agents in Spain, there are no laws regulating who can call themselves a project manager and no defined rules or guidelines about what project managers do. So, how can you decide if the people or company selling project management services are bonafide professionals? To find out, we talked to Chris Warren, a partner in Renson Management, a Sotogrande-based project management firm and one of the longest established and most reputable companies on the Costa del Sol. (Disclaimer: Renson is the project manager firm we recommend to clients who are interested in such services.) Chris trained and worked as a quantity surveyor in the UK before setting up shop in Spain in 1996. Over the last 20 years, Renson has worked on dozens of new-build projects, in-
cluding about 30 homes in the exclusive La Zagaleta urbanisation, as well as property refurbishments and facilities management and maintenance. Chris concurs that the most important thing you should look for in a project manager is experience, not just in terms of the length of time they have been managing projects, but also with regard to the variety and complexity of the projects overseen. Chris and his partner, Keith Johnson, have both been working for more than 40 years in the construction industry and have managed all kinds of projects, from hospitals in Algeria to residential property and office buildings in Spain and the UK. While they prefer to oversee a project from start to finish, they are often called in during construction to remedy problems other less experienced project managers have missed and get work back on track. Renson has been ISO 9001-certified for quality management for over a decade, Chris adds, meaning the firm is regularly audited to make sure its practices meet independent quality standards. The added advantage Renson offers is that it is one of just a handful of project management providers on the Costa del Sol to have professional indemnity insurance, so if something does go wrong with a project during or after construction, clients have a means of redress against the firm. In 16 years of continuous cover, Chris notes, Renson has yet to receive a claim.
Terra Meridiana. 77 Calle Caridad, 29680 Estepona. Tel: +34 951 318480. Office Mob: +34 678 452109 Email: info@terrameridiana.com. http://www.terrameridiana.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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FROM
the Olive Press November 11th - 25th 2015
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WORRIED ABOUT YOUR GROWING BIKE INSURANCE PREMIUM? 87%** OF OUR CUSTOMERS ARE SATISFIED CUSTOMERS
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Arboleda · Atalaya
Treana · Benahavís
Aria · Mijas Costa
A collection of exciting new development releases brought to the Costa del Sol by Real Capital Solutions Spain. Launching 2016. So ph i s t i c a t e d Villa s · U ltra H ig h L ux ury Apa rtme n ts · Mod e r n A p a r t m e n t s
R EAL
C APITAL SOLUTIONS
SPP RCS Advert 256x342.indd 1
For sales information please visit:
commercial partner
www.RCSspain.com/2016 info@RCSspain.com Tel: +34 951 239 866
03/06/2016 15:26:01