Property Supplement February 2022

Property

S pr pa o in in per ’s b En ty es gl ma t ish g

www.theolivepress.es

February 2022

A taste of the future or a galactic waste of money?

See page XIV

Bye bye Bofill

The Olive Press pays tribute to Spanish genius Ricardo Bofill, whose architectural tentacles spread widely, and were even said to have inspired last year’s hit tv series Squid Game

See page VI

KEEP THE GOOD TIMES ROLLING HOME sales in December were the second-highest on record in Spain.

And 2022 has kicked off where last year ended… going up and up and up!

Andalucia, Valencia and Murcia are leading the charge on the mainland, each seeing spectacular growth by over a quarter against last Christmas.

While Andalucia saw 29% more sales than December 2020, Valencia and Murcia posted figures of 26% and 25% respectively.

The Balearics experienced a 41% uplift, while the Canaries saw a 44% rise in December’s year on year figures.

“Home sales in December set almost a record high, illustrating quite how buoyant Spain’s housing market is despite the ongoing repercussions of the pandemic,” said property analyst Mark Stucklin.

After almost record December sales, January is also performing strongly

“Sales were up 26% on 2019, showing the market has more than recovered the ground it lost to the pandemic. The Spanish housing market is undergoing a post-pandemic boom in sales.”

In total, 72,023 residential sales were completed in December, according to official figures.

According to a trio of leading estate agents in Andalucia, the year has also begun well, despite concerns over supply.

“We sold three properties in January, which is three more than ever be-

fore,” explained Scott Marshall, from PropertieSpain in Benahavis. “And enquiries are coming in thick and fast.”

Meanwhile, Ben Bateman from Sotogrande’s Holmes agency said: “It could be a record year if we can get the right number of new listings.

“Last year was the best year since 2008 and we remain confident for 2022.”

Adam Neale, at Terra Meridiana, in Estepona, also recorded record sales last year, and has seen an ‘extremely hectic’ start to 2022.

“It was a very busy year and it didn’t stop last month, it just keeps coming, particularly now people can travel again.”

The highest December property figures were in 2010 when nearly 80,000 properties were sold around Spain.

II

February 2022

PROPERTY

Online portal calculates how solar power can slash your electricity bills

EXCITING TIMES FOR THE SPANISH PROPERTY MARKET Welcome from publisher Jon Clarke

I

T has taken two long years, but it’s a very welcome return to the Olive Press’s bi-monthly Property Magazine.

While it has certainly been a turbulent time for the Andalucian property market since our last issue in March 2020, the buyers are definitely back.

After a surprisingly strong 2021, this year looks set to perform even better - assuming we get the supply back!

The majority of big agents along the coast - the likes of Panorama, Kristina Zsekely and Holmes (all over three decades in business) - are telling us a similar story: WE NEED MORE HOMES! But understandably they remain optimistic.

For they know that after the horrors of COVID, its draconian lockdowns both here and around Europe, the lifestyle our region offers has never had more allure.

With sunshine for 320 days a year and a largely unspoilt region of rolling hills, snowy peaks and sandy coastline, who wouldn’t want to relocate here, perhaps initially with a laptop?

The Germans are certainly coming, as are the Dutch, Scandinavians and Belgians. And let’s not forget the city dwellers of Madrid, Sevilla and Bilbao.

Even more exciting is the interest coming from across the pond in Canada and America, where the Olive Press receives around 11% of its online visitors at present.

And despite Brexit causing further issues there are also thousands of British families still looking to buy down in the southern tip of Europe.

As one agent recently told me they are working out ways to get round the 90-day rule ‘by hook or by crook’.

And the knock on effect is set to be huge: with more

people buying this will mean more work for lawyers, architects, surveyors and builders.

Next it will be the interior designers and furniture stores and soon it won’t just be the sun cheering us up… but the very real feeling of the economy finally picking up.

And how we deserve it.

All those dark months hiding indoors or behind masks, too scared to fly, missing all our loved ones from back home.

Finally, all those hard-working and decent expat property businesses are set to get their just rewards for their hard work and patience in ‘la crisis’ we have just lived through.

We hope you enjoy this issue of the Property magazine.

Aside from up to the minute analysis from our specialists including Mark Stucklin, Campbell Ferguson and Adam Neale, we interview long-established Sotogrande agent Ben Bateman and Marbella’s Queen of Property Kristina Szekely.

And then there’s our spread on the hippest new hotels around Spain, the coolest high rise apartments on the Costa Blanca and a feature on Moorish propert.

Yes, the Olive Press always works hard to ensure our readers are spoilt with interesting and varied copy, which in turn helps our advertisers to get noticed.

Send your feedback to me at jon@theolivepress. es or contact 951273575.

MOST Spanish homes get over 2,500 hours of sunshine each year, making them a prime candidate for solar power generation.

Now an online portal can calculate how solar panels can slash your electricity bills.

After typing in your address, and highlighting your available roof space, the website calculates how different solar installations will cut your monthly bills.

The collaboration between Fotocasa and Portuguese energy company EDP also works out what subsidies are available in your region.

Savings For a villa in Javea, for example, a one-time payment of €3,709 (inc. €1,000 subsidy) would see savings of €592 annually in electricity bills with just four solar panels.

Fotocasa claims that most homes will find a 50% reduction in electricity bills following installation.

“Spanish people are increasingly aware of the importance of an energy transition to fight climate change, as well as how

SAVINGS: Panels can reduce bills

Cash on the attic you can reduce utility bills thanks to renewable energy,” said Maria Matos, at Fotocasa.

The company promises a complete service, including advice throughout the whole process as well as studying and applying for bonuses and subsidies.

It also claims to manage technical and legal matters.

If 85% of Spanish homes installed solar panels there would be a reduction of 57 million tonnes of CO2, equivalent to planting 4.3

billion trees.

Up to 40% of the cost of installation can come from subsidies, while this can increase to 65% if the project includes a battery for power storage.

According to EDP, Andalucia is the community with the greatest potential for solar power generation, followed by Valencia, Catalunya, Madrid and Castilla y Leon.

So far, 630 municipalities in Spain offer discounts in property taxes (IBI) for installing solar panels.

tel: 952 81 01 02 info@kssir.com www.ksmarbella.com

CONTEMPORARY VILLA IN THE HEART OF PRESTIGIOUS GOLF ESTATE, GUADALMINA ALTA

VERY SPACIOUS LUXURIOUS TRIPLEX APARTMENT SITUATED GOLDEN MILE

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KSSIR-25632P-DUP · Bedrooms: 4 · Bathrooms: 4 · Build: 263 m2 · Plot: 0 m2

The villa is walking distance to the Club House and within a short stroll to the Guadalmina Commercial Centre. This extraordinary villa has a fantastic landscaped garden with its own heated swimming pool. The access to the villa is through a pivoting door leading to large entrance hallway with glass stairs case and panoramic lift to all levels, large open plan lounge with open gas fireplace and direct access to the covered terrace and garden, separate dining room, bedroom or second living room, full bathroom, absolutely beautiful modern kitchen with very large island, Silestone counters and top appliances by Gaggenau. First floor comprises; three spacious bedrooms, all with warm wooden floors, master suite has a good size walk-in...

Very spacious apartment situated in a small gated complex with lovely tropical gardens and swimming pool. Located in the Golden Mile only 5 minutes from Marbella center and Puerto Banus. Three separate apartments have been joined in order to form a substatial property. Offers on the ground floor, spacious living area with fireplace and dining area leading out to a south facing terrace with sea views.

Modern fully fitted kitchen with adjoined main bedroom ensuite. On the first floor 2 bedrooms ensuite with dressing area sharing a terrace with jacuzzi and beautiful views. On the top level is situated the master bedroom ensuite, fireplace and terrace. Finally includes a parking space in the communal garage.

A generous property designed in a beautiful Mediterranean style.

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III

February 2022

Inflation, Inflation, Inflation

ANDALUCIA is pressing ahead with reforms to land laws that will allow construction of new homes on rural land.

The new bill will grant permits to build detached homes on any land deemed 'suelo rustico' but as long as there is 2.5 hectares.

Previously the LOUA only permitted agriculture and livestock farmers to build homes on rural land.

Andalucia councillor for development, Marifran Carazo, said the reforms would open up 'new opportunities' that 'speed up' developments.

Any new constructions can only be used as a second home, and so long as projects do not create 'new urban nuclei' within the municipality.

Carazo said the LOUA (Ley de Ordenacion Urbanistica de Andalucia) has not seen any substantial reform for '20 years'.

She added it came after 147 meetings with

KIRSTIIE Allsopp faced a backlash last week after claiming young people should simply give up luxuries like Netflix and Starbucks in order to buy a house.

The Location, Location, Location star said: “When I bought, the lifestyle of easyJet flights, coffee, gym memberships and Netflix didn’t exist. I was earning £11,500 a year.”

Allsopp, the daughter of the 6th Baron of Hindlip, neglected to mention that she bought her first property aged 21 with help from her parents.

Even by generous estimates, if young people were to cut out the ‘luxuries’ she suggests, they would be saving around £2,000 per year.

According to the Office for National Statistics, the average deposit for a house is £24,000 for first time buyers.

Therefore, a young person would have go on no flights, drink no coffee, have no gym membership, watch no Netflix and spend money only on eating and rent for 12 years just GIVE UP NETFLIX: Says to save up enough money for a deposit.

Kirstie Allsopp

RURAL BOOST

town halls and 83 with technicians.

While the plans sound like a step towards permitting new rural homes, the reforms are also to clean up decades of rule-dodging.

Thousands of homes have already been built as second homes, regardless of having no planning permission.

NEW WALLS PLEASE! Novak Djokovic’s touchy-feely makeover at Marbella mansion

By Kirsty McKenzie

AWARD: For Drumelia´s Artur

Top of the Pile!

HAVING grown up in Marbella with rock star looks, you could say he had a bit of a head start.

With 138,000 followers on Instagram and a YouTube channel of 170,000 subscribers, Artur Loginov has the perfect platform to sell the southern Spanish dream.

Now, after a record-breaking 2021, the hard-working Russian has become Spain’s ‘best real estate agent’ in the International Property Awards.

The CEO of Drumelia played a key role in selling over 20 properties last year, with two - one in Sierra Blanca and the other in La Zagaleta - priced at over €30 million.

“The award recognises our efforts and provides a significant mark of recognition and credibility,” explains Artur, who went to school in nearby Sotogrande.

Innovation The Marbella company was also recognised for its ‘aggressive marketing strategy’ through digital innovation, with its YouTube channel having received over 25 million views.

“We are the agency with the largest audience in Marbella with which we can highlight footballers, celebrities, and world leaders in the real estate industry,” he continues.

“In 2022 we will continue implementing digital strategies that support the sale and expansion of the brand and attracting foreigners with significant purchasing power to the Costa del Sol,” he adds.

Around 20% of the company’s clients are Russian, with a large number also coming from the UK, Germany and Scandinavia.

And an increasing number have been coming from Canada and the US over recent months.

FOR a superstar athlete Novak Djokvic has some ‘unconventional’ beliefs when it comes to diet and health.

Now he is transferring some of those beliefs to his Marbella mansion, which he is ripping apart and rebuilding as a ‘feng shui’ paradise.

The tennis world number one has been busy since his deportation from Down Under over his ‘anti-vaxx’ status renovating his sprawling €6.4 million home.

The star, 34, has grand plans to extend his estate which he bought two years ago.

It came complete with a mix of Mediterranean and Moroccan furnish-

MANSION: Djokovic’s Sierra Blanca home is being refurbished ings, which would seem not to be in his or wife Jelena’s taste.

The Serb, who is well known for his vegetarian diet and ‘anti-science’

BAD TASTE?: Old interiors did not meet the Djokovics’ approval

stance to alternative medicines, has a firmly spiritualist attitude to life.

It seems he wants that reflected in his home.

To many, the Sierra Blanca property, with its nine bedrooms, sauna, Turkish bath, gym, plus grass tennis court, of course, was already a dream home.

But Djokovic and Jelena have different dreams it would seem. Workmen have moved in and ripped out the inside of the villa and are set to replace the existing bathrooms, kitchens and Jacuzzis as well as demolish walls to fit floor to ceiling patio doors.

The tennis player wants to build the home based around feng shui concepts like the five elements of wood, fire, earth, metal and water, according to press reports.

Digital daft?

SPANISH real estate has just gone meta.

Up to 800 buyers have are snapping up a series of virtual plots that can only be lived in online.

The group bid between €2,000 and €20,000 to buy up the ‘first’ plots of land in the Spanish metaverse known as Uttopion.

These exclusive ‘presale’ plots come with ‘free houses’ in a virtual space that’s aimed at ‘connecting with friends’ through digital avatars. Confused? You will be now. “Our mission is to create an incredible virtual world to help metastreamers and brands connect with their communities in a virtual space that’s acquired like an NFT and can be totally personalised,” said Uttopian founder Soraya Cadalso.

“We’re a hybrid metaverse, guaranteeing the property of our owners through a blockchain,” added Cadalso, who has her own avatar on the Uttopion site.

“You can create a virtual replica of your business or idea and sell digital products, create virtual events with ticket sales or create unique experiences for your clients and fans.

“The possibilities are infinite.”

The start-up has been part-financed by one of Spain’s richest men, Juan Roig, the owner of Mercadona.

Currently 500 more plots of land are up for grabs, while over 1,000 requests have been received for pre-sale plots.

Various spaces on Uttopian include Musichood, for businesses in the music industry; and Sportsvilla, specialised for sports.

Globally, metaverse real estate sales have generated €500 million around the world, according to CNBC.

PRIME SPACE: But only online

Freehold with a free house IT gives new meaning to the term ‘freehouse’ to describe an independent pub in the UK. A tiny village in Cuenca is offering a free house to anyone who can save their only pub.

In a desperate battle against depopulation, Villalgordo del Marquesado town hall is giving away the bar and some of its contents free of charge.

It comes after the bar closed in December, leaving the remaining 76 locals with nowhere to go for a caña.

"We are offering the bar, its heating, a fridge and also a house to anyone who can take over," said mayor Natalio Valencia.

"The bar is the place where everyone in the village gets together, including those who come on the

weekend.

"If we lose the bar, where will we see one another?"

She added that the new landlord would only need to pay the social security contributions and the electricity bill.

The free property is situated right next door.

Villalgordo, which sits in rolling countryside just under two hours from Madrid, has seen its population half in 30 years.

So far four applications have been received from as far as Barcelona and Alicante.

Anyone interested in the offer call the town hall on 969290201 or send an email to villalgordo-marquesado@local.jccm.es

IV

February 2022

PROPERTY

READING THE RUNES

T

HE Spanish property market staged a remarkable recovery in 2021 with the easing of pandemic-related restrictions, but the market still faces headwinds that were dragging the market down before the virus came to town.

Anyone who predicted the pandemic would lead to a boom in the housing market is a better reader of the runes than I am. Rather like the majority of respondents in a survey I ran back in March 2020, I expected Covid-19 to put the market on a ventilator for at least a year, rather than recover in the second half of 2020, and roar upwards in 2021, which is what happened.

ANALYSIS: Mark Stucklin of Spanish Property Insight looks at the reasons behind the property boom The latest figures from the Spanish notaries’ association show that home sales increased an annualised 38% nationwide last year, and by almost 20% compared to 2019.

High growth compared to 2020 was hardly surprising in the light of lockdown, but the growth compared to 2019 has been phenomenal. Sales in 2020 were the highest they have been since 2008, when the market was just coming off the boil after a runaway housing boom.

The figures reveal that the most growth came from the sale of single family homes, up 34% compared to 2019, whereas flats were up a modest 10% in comparison. That confirms a change in demand driven by the virus: People want bigger homes with more space in the suburbs or on the coast near cities and good transport links. Flats in the city centre are out of fashion, for now.

House prices have also performed better than expected (in my survey 57% expected them to “fall a lot”.)

In reality they fell just 0.4% in 2020 (recovering in the second half from a slump at the start of the pandemic), and then increased 5.3% in 2021 nationwide. Of course, the national average disguises significant differences between regions and segments, but the overall direction was positive.

Looking at the regions of most interest to foreign investors, the growth in sales last year was most dramatic in the islands, led by the Balearics up 51% to 17,664 sales - followed by the Canaries up 44% to 24,749 sales. Sales were also above 40% up in Andalucia and the Valencian region, and just below 40% in Catalonia and Murcia.

Compared to 2019, the biggest in the market, and where is it heaincrease in sales was in Andalucia, ding? Low interest rates (Euribor up 23%, and Murcia, up 21%. The -0.502% in December 2021) couBalearics were up 11% compared pled with high inflation (6.5% in to the pre-pandemic year of 2019, December) are possibly encourawhilst the Canaries were the only ging investors to take advantage region to shrink in comparison to of the differential, and get inflation to help pay their the market pre-covid. So most of the mortgages. A housepopular regions have Prices have not hold savings surplus from lockdown mimore than recovered fallen in any ght also be helping, the ground lost to the pandemic. region favoured coupled with a general reset in people’s Price-wise, the Baleaby foreign rics led the way, with priorities. But the house prices up 14% headwinds that were buyers compared to last year, dragging down the and 22% compared to housing market bethe year before that. Andalucia saw fore the pandemic, including high the second biggest price increase, transaction-costs, high taxes, and up 8% compared to last year, and political hostility to private proper7.5% compared to 2019. House ty rights are still with us. The Spaprices have not fallen in any region nish economy isn’t in great shape favoured by foreign buyers over the either. Housing market expansions usually last five years or more, course of the pandemic.

What factors are driving this boom maybe not this one.

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VI

February 2022

PROPERTY

BYE TO BOFILL Squid Game architect Ricardo Bofill (right) passes away just before tributes to his life come to fruition, writes George Mathias

A

ORIGINAL: (Top pics) Walden 7 building in Barcelona while (above and below) Obecni Dvur in Prague

SPANISH architectural legend has died.

Ricardo Bofill died aged 82 last month, a year before Calpe made 2023 the ‘Bofill Year’ to celebrate his remarkable creations and he was set to get a Spanish national stamp.

The Catalan was one of the most celebrated architects of the 20th century and a pioneer of the style that came to be known as postmodernism.

Like Richard Rogers or Norman Foster his influence has been vast. When Netflix released Squid Game, which would become the most watched series in its history, many viewers noticed an uncanny resemblance between the striking staircases patrolled by masked guards and one of Bofill’s most famous works La Muralla Roja (The Red Wall) on the Costa Blanca.

Just three months ago, Calpe City Council formally declared that 2023 would be ‘Bofill Year’ and in January, the council submitted a request to have a postage stamp issued to mark the 50th anniversary of the Red Wall of Calpe.

His works proved divisive, being panned by his detractors as ‘kitsch and gaudy’ while praised by his fans, with many saying they ushered in a new era of modern architecture. He was also noted for his focus on designs for social housing, with his son declaring that his objective was ‘to demonstrate that at a modest cost you can build social housing where every floor is different, where people don’t have to walk down endless corridors, and where different populations can be part of one community.’

Bofill was born just as the Spanish Civil War ended. Imbued by deep anti-fascist leanings, he was arrested in 1958 while at university for taking part in protest against dictator Franco, culminating in his expulsion from Escola Tècnica Superior d’Arquitectura de Barcelona.

Frequently drawing the ire of the powerful, his proposal for a revolutionary new housing project in Madrid with striking colours and a succession of turrets led the then fascist mayor to tell him he would never again be commissioned in Spain.

He found favour elsewhere and in Paris, he secured a position to redesign the celebrated markets in Les Halles only to be later fired by future French President Jacques Chirac just as the project was getting underway.

Art critic for The New York Times Paul Goldberger said in 1985 that Bofill’s gift to France was ‘to be able to unite the French instinct toward monumentality, which has lain dormant since the days when the Beaux-Arts ruled French architecture’.

He turned his attention to glass and steel, with projects including the 77 West Wacker Drive office tower in Chicago and an extension of Barcelona Airport for the 1992 olympics.

The jewel in the crown of his works, La Muralla Roja, was completed in 1973 and was heavily influenced by North African Kasbahs.

In 1996, The National Theatre of Catalonia which he designed opened its doors. Likened to a mausoleum or an ancient Greek temple, it has since become an integral bastion of Catalan culture.

In 2009 he completed The Four Bars of the Catalan located in the Plaza Rosa de los Vientos in Barcelona, a homage to the Catalan flag.

Never losing his passion for work, he lived by his adage: “Architecture is the victory of man over the irrational.”

VII

February 2022 COLOUR BOMB: Pink and blue La Muralla Roja sits next to the green and abstract Xanadu - which houses 19 apartments - on the coast of Alicante

LUXURY LIVING: (Left) Bofill’s own home while (right) a villa he designed in Emporda

Continues overleaf

Holmes Property Sales S.L. Tel: +34 956 79 53 40 email: info@holmesotogrande.com

www.holmesotogrande.com

ALMENARA, SOTOGRANDE

REF: HSN3-1100

LA RESERVA, SOTOGRANDE

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Elegant family villa with stunning panoramic sea views over 2 golf courses and the mountains beyond.

Spectacular south-facing 3 storey front line golf villa in La Reserva with panoramic golf and sea views.

6 Bed | 5 Bath | Build 868m2 | Plot 2080m2

5 Bed | 5 Bath | Build 628m2 | Plot 3260m2

2.395.000 euros

2.650.000 euros

VIII

February 2022

PROPERTY

BYE BYE TO BOFILL

UNIQUE: (Clockwise from top left) Mohammed VI Polytechnic University in Morocco, the Meritxell shrine in Andorra, the Les Espaces d’Abraxes in France and (below) the El Anfiteatro, consisting of 27 luxury apartments, located in Calpe in Alicante

More of the best from Spain’s STARchitect

We are looking for quality properties to list in the Golden Triangle area Benahavís Marbella

Estepona

Tel. (+34) 952 863 750 www.panorama.es Offices at Puente Romano and opposite the Marbella Club hotel

X

February 2022

PROPERTY HOMESELLERS REPORT

NEW SUPPLY NEEDED 2022 could be a record year - ‘if we get more listings’, explains Ben Bateman of Holmes Sotogrande

T

HE boss of one of the Costa del Sol’s most established agents couldn’t make it clea-

rer.

“Supply has quite frankly been turned off, while the demand has continued to rise,” explains Ben Bateman, the boss of Sotogrande’s longest-established agency Holmes Property Sales, (Holmes Sotogrande).

“We have a fraction of what we had on offer last year yet the buyers keep coming,” he adds from his office in the heart of the leafy enclave. The figures could not be clearer.

Since this time last year his agency has seen a drop of nearly a third in listings from 650 properties for sale to just 451 this month.

After the hangover of the pandemic started to ease last summer and record sales were achieved by many agencies along the coast in 2021, there was very little stock left.

“The backlog lifted and, 2008. Going on the high after everyone came over demand for the lifestyle we to finalise sales, the supply offer here, this year should had gone and it has still not also be a good year.” been replenished,” conti- But he warns, while prices are likely to continue nues the father-of-five.

Last year was certainly a to increase somewhat, it is busy time for the agen- impossible to say by how cy that was set up over 40 much. The price elasticity of years ago in the upmarket the demand has not been resort, home tested yet as to a mixture of the market entrepreneurs, has not yet ‘We simply celebrities and had time to don’t know how respond royals. to H o l m e s the chanfar buyers are ge in supply agreed to the sale of nearly prepared to go in and demand. believes 60 properties terms of rises’ He a number of in 2021, -a unscrupulous number similar to what agencies are they would have expected already artificially bumping in the years before the fi- up values without the sunancial crisis and in stark pporting evidence. contrast to the average of “We simply don’t know how 18 sales a year from 2008 far buyers are prepared to go and we don’t want to suthrough 2020.

“We had our best year since ddenly raise prices by 20% 2007, before the bottom fell to replenish the supply in out of the market in April the market,” he insists.

OPTIMISTIC: We had our best year since 2007 and hope this year will be as good, says Ben Bateman

“There is no doubt some big lawyers and accountants, agencies will go in flattering etc, and the lifestyle here, owners and listing proper- being able to work from ties at five million say, on home with security and an exclusive sole agency good weather, an excellent agreement, knowing they international school is only will need to drop the pri- becoming a bigger and bice to three or gger draw. four million “Sotogrande to get a sale is very family ‘We are still in six months friendly with time. lots of outdoor getting all the “Sellers should and is entrepreneurs, sports be very wary near to Marof who they list bankers, lawyers bella, Malaga, Jerez, Sevilla, with and not get seduced and accountants’ etc, and you can even go by high, false skiing every prices.”

As for the profile of clients weekend in season in Grabuying in Sotogrande, this nada, which is just two and a half hours away.” has not changed.

“We are still getting all the He adds that setting up a entrepreneurs, bankers, home office has never been

easier, with fast internet of 300-MB per second with unlimited data costing just around €35a month.

And don’t hang around: the situation with Gibraltar and the final deal over movement across the border is likely months, if not weeks away, from being finalised.

“It will bring so much more confidence into investing in the area and it has nearly been completed,” adds Ben, who took over the agency from his father Ian, a few years ago.

“Once signed and agreed it will be very positive for Sotogrande and the whole of the Campo de Gibraltar.”

Contact Holmes at www.holmesotogrande.com

Welcome to the big life

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A Small Oasis of Luxury Living on the Costa del Sol

F you have ever dreamed about getting away from it all and having your own little secret bolthole and peaceful oasis away from it all, then Small Oasis is just what you are looking for.

With its ‘picture- perfect’ location in the pretty town of Manilva, it is a unique residential development, combining the best in a modern living experience, with the tranquillity, authenticity and natural beauty that embodies its Andalucian backdrop.

Comprising of an exclusive selection of properties, Small Oasis offers a select range of homes, including resort apartments, luxury apartments, town houses and villas.

A safe and private residential complex, it is the ideal place to relax on holiday with family and friends or to make an idyllic permanent residence.

With access to every imaginable service and amenity at your fingertips, you will only need to think about relaxing, taking in the abundant sunshine, and having fun.

Phase I, a complex of 258 two and three-bedroom resort apartments, proved exceptionally popular with clients, with most units now sold.

The recently launched Phase II features 144 luxury apartments. These single- floor, three-bedroom, three-bathroom properties feature high-spec kitchens and a delightful balcony for leisurely al fresco dining.

Upper floor units benefit from spacious, private rooftop lounges complete with barbeque areas and stunning views of the surrounding area. All Small Oasis residents have access to the beautiful, manicured gardens, barbeque areas, stunning shared adults and children’s pools and a clubhouse.

And there is no shortage of things to do. A mini-cinema has regular screenings, while there is a top selection of bar and restaurants and a modern gym as well as yoga classes.

There is also a regular shuttle bus service to the beach to take full advantage of the sunny days.

Joint work areas with private control access via the dedicated Small Oasis app, which can be also used for temperature control and remote locking, are just some of the other standout features which make life in Small Oasis, Manilva ‘a big life’!

Small Oasis also has the bonus of being just 10 minutes from the historical centre of Estepona, 20 minutes from Gibraltar airport and Puerto Banus/Marbella, as well as being around an hour from Malaga airport. Prices start at a competitive €147,000 for the Resort apartment (only a small number remaining), and €199,900 for the newly launched, Luxury apartment residences. Phase III comprising of 70 exclusive town- houses and 29 luxury villas is due for launch in 2023.

For more information on how to begin your journey to enjoying a ‘Big Life’ at Small Oasis, a residential development unique, call one of professional, friendly team on +34 604 416 821 or email: welcome@smalloasisbiglife.com. Browse their comprehensive website at www.smalloasisbiglife.com for a flavour of ‘the big life’!

Apartments Resort

Costa del Sol

LIVE IN AN EXCLUSIVE OASIS OVERLOOKING THE OCEAN

Small Oasis is an exclusive residential complex that is undoubtedly becoming a symbol of quality, design and exclusivity on the Costa del Sol. Small Oasis rises above a quiet elevated hill with amazing views over the ocean and the beach and offers a wide variety of dwelling types for every family lifestyle.

144

luxury apartments

258

apartments

29

villas

Small Oasis is situated in Manilva inland from Playa Aldea. Just 5 minutes from Sotogrande, 10 minutes from the historic centre of Estepona, 20 minutes from Gibraltar airport or Puerto Banus and less than an hour from Malaga airport.

Contact us to find out more and start living your Small Oasis Big Life... www.smalloasisbiglife.com

QUOTE - Olive Press AD

SMALL OASIS RESORT COMMUNITY-COSTA DEL SOL, SPAIN WELCOME@SMALLOASISBIGLIFE.COM +34 604 416 821

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February 2022

PROPERTY

TIME TO DEAL

Thinking of investing on the Costa del Sol? It’s worth weighing up the pros and cons of resales versus new-builds and off-plan, writes Olive Press Property Insider Adam Neale

The Property Insider

by Adam Neale

L

AST year was an exceptional year for the Costa del Sol property market.

Most of the agents along the coast, including us at Terra Meridiana, reported record sales in 2021.

Demand for almost every kind of property, from plots of land to turnkey villas and from brand-new apartments to townhouses for renovation, has outstripped supply.

It means buyers now have less and less stock to choose from, particularly at the high and lower ends of the marketplace.

One trend we’ve noticed is an increasing number of overseas buyers who are only interested in buying brand-new properties.

I am going to let you into a little secret: in my opinion, you are usually better off buying a resale property.

While we don’t mind selling off-plan homes – we currently have over 300 new properties on our books, out of 850 listings – we always advise clients to weigh up the pros and cons of each, before making a decision and signing on the dotted line.

However, unlike many agents on the Costa del Sol, just three of the 50-plus deals we did in 2021 involved new properties.

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In the first place, you really need to know the market well to sell resale properties.

You have to understand the pros and cons of, and potential issues with, different urbanisations, such as community fees, debtors, and how well the community is managed.

It’s much easier to sell a new property in a community that does not exist, where fees THE APPEAL OF BUYING NEW-BUILD are not fixed and management is untested.

OR OFF-PLAN PROPERTY And, in a resale property, you can see where the sun will be at 7pm in the sumPROS There are, undoubtedly, lots of pros to bu- mer and, more importantly, 5 pm in the winter. ying a new property.

Like a car, you get to experience that However, if you can find a property you ‘brand new feeling’ while you’ll benefit like in a new development, which is in a from the latest technology and contem- good location and selling for a reasonable price, it may be preferable to buying porary design and, if you resale property. get in early enough, you The problem is that too may even get to adapt the Too many many buyers sacrifice lolayout and change fittings cation for new and, when and finishings to suit your buyers the market softens, may be taste. sacrifice unable to sell and eventuaThese advantages can lly lose money. be hard to find in a resalocation for What some people fail to le property, unless it has realise is, when they come new been renovated to modern to sell in 10 years’ time, they standards. will not be selling the new home they bought, but a resale property CONS The biggest problem with new properties in a less desirable location. is location.

Because of the lack of availability and high SOME GOOD REASONS WHY YOU price of building land in prime locations, SHOULD BUY RESALES many new developments are located far from services and transport connections or Many of the pros of buying a resale property are obvious: you can see – and even have no infrastructure in place at all.

Second, new homes tend to be smaller get a survey done to check, if you wish – and priced higher, in terms of price per exactly what you’re getting. square metre, than comparable resale You can also see what’s around you, so you won’t be surprised by any new deveproperties.

Third, brand-new doesn’t necessarily lopment once you move in. mean perfect, as even the most recently You may also want to live in an area where there simply are no new-builds for sale completed properties can have issues.

And, finally, we always advise clients that nor any building land left for construction; they are buying a community first and an and you might even walk into a sellers’ apartment second; if you buy in a new de- home on a viewing and think to yourself, velopment, you are buying into an untried ‘I’d love to live here’.

There are other advantages to purchasing community. a resale property too: Gardens in existing WHAT AGENTS DON’T TELL YOU developments will be mature, communities of owners will be up and running ABOUT NEW-BUILD AND OFF-PLAN smoothly, and you can see exactly how What most agents will never tell you is it’s long it will take you to walk or drive to loharder to sell resale properties and much cal services because they’re already there.

Then, there’s the cost. As a general rule, less profitable.

you get more space for the same price in a resale property, because buyers and sellers both expect to have to spend a little extra, maybe to redo a kitchen or bathrooms, in an older place.

But the best reason for buying a resale property is location. With very few exceptions, prime development land has already been built upon.

There’s a good reason for that; the best locations always get developed first.

When you buy a villa, the land is more important than the villa itself, because you can always change the building, but you cannot change the plot.

Likewise, with an apartment, you can renovate to contemporary standards, upgrade installations and even alter the distribution if you wish, but you can’t change its location.

The bottom line is: properties in good locations always sell better. And a resale property is more likely to be in a good location than a new one.

The mantra of location, location, location is just as important for buyers as it is for sellers.

WHAT CAN YOU DO ABOUT DEFECTS WITH NEW AND RESALE PROPERTIES? Since May 2000, all new properties in Spain that are built by a developer or builder for sale to third-party buyers are legally required to be covered by a 10year warranty that protects the safety of its occupants against structural defects.

This is usually provided by an insurance policy taken out by the builder or developer.

Buyers, however, do need to know their rights to make the most of this coverage, as generally the sooner you can get any problems fixed, the better.

Buyers of resale properties in Spain are also protected by Spanish law against hidden defects, although the requisites for proving the seller is liable are more demanding.

The defect in question must be serious enough to put the stability of the property at risk, it cannot be not be visible, and it has to prevent the buyer from living in the property in normal conditions.

In addition, buyers only have five years to address claims and have to prove the defect already existed at the time of purchase.

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77 Calle Caridad | 29680 Estepona (Málaga) Spain info@terrameridiana.com | www.terrameridiana.com

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February 2022

PROPERTY

LIVE LIKE A MARTIAN! Zero carbon sustainable pod is set up for life on other planets

T

MARKET EXPLOSION Seismic shift pushes demand for properties to sell, reports Renew Reality

T

HE shift Renew Realty has experienced in the property market over the past few years has been seismic.

Due to the pandemic, the ability to work from home and the introduction of hybrid-working has opened up possibilities of living in a warmer climate for more people than ever before. The market exploded in 2021, resulting in a record year for Renew Realty.

Interestingly, a number of buyers are now seeking a permanent residence here on the Costa Del Sol, rather than a holiday home. Demand has expanded particularly from Northern to Eastern Europe, USA and Canada, with many buyers much younger - tech millionaires choosing Marbella as their place of residence.

In response to this unprecedented change, Renew have expanded their team with multi-lingual specialists to handle enquiries from around the globe and boast several experienced sales professionals to provide a one-to-one, tailored service to clients selling their homes and buy-

ers flying in for bespoke property tours.

Continual investment is made across marketing, using the best online property portals, plus an App is also available for buyers to search for properties 24/7 from the palm of their hand. Rest assured, if your property is listed with Renew Realty it will benefit from optimum levels of promotion to attract a healthy level of buyer interest.

Jim Muirhead of Renew Realty commented: “We currently have a number of qualified, active buyers ready to purchase, so we are looking to secure listings to meet this demand.” Perhaps if you are considering selling your home, taking advantage of this buoyant market may pay dividends!

It will be interesting to see how the property market moves throughout 2022.

Feel free to contact Head of Sales & Valuations, Jim Muirhead – jim@renew-realty.com

HE smart, portable and sustainable house ‘of the future’ has been launched in Madrid.

But the idea behind the Cyberhut is it will one day be located on Mars.

For now, the ‘intelligent house’ manufactured by the Astroland Space Centre, in Cantabria, is in Ciudad Lineal.

Built with all the latest technological advances it will one day be part of ‘the first human colony on Mars’.

Astroland researchers claim it is able to generate its own energy allowing it to survive in environments as extreme as that of the red planet.

But its high tech installations can also improve the lives of people on this planet.

Non-polluting, reusable, recyclable and repairable construction materials have been used in its construction.

It can be up to 200-square-metre in size, depending on the client, but all tenants are welcomed by a pink-haired virtual assistant called Cybi.

“Cybi is going to see what food you have stored and is going to design a diet based on your state of health, your tastes, your routine and lifestyle,” said David Ceballos,

FUTURE NOW: Space pod is set up in Madrid (below) and gives an idea of what living on Mars might be like

CEO of Astroland.

It has over 600 sensors and over two kilometres of cable set around its walls.

The hut, that can sleep up to six, costs from €150,000 for the basic 50-square-metre model.

LAST GREEN A rare opportunity to buy a large 4 bedroom corner townhouse in Last Green.

4 Beds | 4 Baths | 425m2 Built | 116m2 terrace REF: 176-01407P | 1.150.000€ The house is in immaculate condition as the current owner has done several improvements in the last year. The kitchen was recently fitted using only the finest of materials creating a wonderful focal point in the house. The split level living and dining room has a luxurious feel where the living area leads you straight out onto one of the terraces and the garden area. All 4 bedrooms are on-suite.

There are incredible sea and mountain views from the large solarium.

The property has undergone an extensive maintenance program with the changing of all electrics, the installation of a top quality antical water softener, new wallpaper and painting throughout.

GUADALMINA ALTA Spacious apartment in Gudalmina Alta with incredible views.

2 Beds | 2 Baths | 126m2 Built | 45m2 terrace REF: 176-02010P | 435.000€ A rare opportunity to acquire a large 2 bedroom apartment in the emblematic building of El Iiwi in Guadalmina Alta. First thing that you notice is the generous size of all rooms. The spacious hall leads you into the living dining room with direct access to a large partly covered terrace.

There are striking views across the golf course and towards the mountain range in the west where you can enjoy unforgettable sun sets.

GRANADOS GOLF, LAS BRISAS Grand apartment with a villa feel in the popular gated urbanization of Los Granados Golf.

3 Beds | 3 Baths | 166m2 Built | 72m2 terrace REF: 176-01635P | 899.000€ The ample reception room leads you the spacious living and dining room that leads you out onto the very large covered terrace with open garden views. From here you can walk straight out onto the communal gardens and beautiful pool area. There are 3 large bedroom suites that include a very generous master suite leading out onto the terrace. The property can also be accessed directly from the underground garage via the lift.

CENTRO COMERCIAL PLAZA 63 | 29660 NUEVA ANDALUCÍA | SPAIN +34 952 816 250 | INFO@ANDADEV.COM | WWW.ANDADEV.COM

XVI

February 2022

PROPERTY

WHICH ONE WOULD

RESORT STYLE LIVING or

AN APARTMENT IN AN URBANISATION?

OCEAN Antonio Sardina, MD One Eden

“We have been delighted by the high demand during the first 2 months of 2022 and encouraged by the diverse range of nationalities proving that the Costa del Sol really is a magnet with international appeal from Scandinavia, Middle East, Benalux and despite Brexit, still to British buyers”

sea view homes & beach club

This is a question that Antonio Sardina, MD at One Eden often asks. Of course, there are benefits with both options, but One Eden have decided to focus on building communities with the best resort facilities. This philosophy appears to be working with a bumper start to 2022.

One Eden’s signature resort areas will include a variety of

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February 2022

YOU CHOOSE?

VILLAGE pools (indoor and outdoor), jacuzzis, saunas, games rooms and children’s areas while the sporty owners will be able to enjoy tennis, padel tennis, badminton, beach volleyball, outdoor and indoor gyms and multi-purpose courts for those playing 5-a-side or basketball.

Co-working, a must in our new world of work, will of course be provided in all the communities.

Antonio commented “Premier resorts not only provide excellent facilities for the owners of apartments but it also means that apartments are more attractive to rent so investors are already purchasing with us. As are families that intend to live here all year and enjoy the top class amenities”

With over 1500 off plan apartments, duplexes, penthouses and townhouses planned for the Costa del Sol, from Alcaidesa to Mijas Costa, One Eden have already practically sold out Phase I of the 1st two developments, Alcaidesa Infinity and Royal Palms Mijas. Phase II of both projects are launching this week with a list of clients already waiting to place their deposits.

As if this was not enough for the busy sales team, Antonio is planning to launch Cascades Estepona (64 townhouses) and Serenity Alcaidesa (270+ frontline golf apartments and penthouses)

by Easter.

Alcaidesa is a prime example of One Eden investing in an area in order to create a real community with excellent facilities. Acqua Alcaidesa Commercial Centre now boasts a new supermarket, Pizza Express, a variety of restaurants and bars and a medical centre is planned.

One Eden even has its own chiringuito on the beach and a packed programme of live music and events are planned when it re-opens at Easter.

For more information call +34 697 113 900 www.oneeden.com

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February 2022

PROPERTY

Oh yes we can!

A FARMHOUSE in the heart of Barcelona is to be saved for future generations.

Can Garcini, bought by the city council for €7 million in 2021, is surrounded by blocks of flats and urban sprawl.

One of the last remaining examples of the area’s rural past, it is to be converted into a centre for the elderly.

The building, also known as the Torre de la Concepcion, has three floors and a gabled roof. Inside, the attic has been fitted out as a dwelling and the main floor distributes the rooms around a large hall.

It was set to be knocked down and rebuilt into three distinct units but has now been saved.

BLOWN OUT THE WATER Demolition order for controversial golf megaproject for wealthy VIPs in inland Spain IT took 14 years to come, but a controversial inland megaproject dubbed ‘the Marbella of Extremadura’ - has finally got the chop.

The regional High Court has slapped a demolition order on the Valdecanas resort, which includes a golf course, hotel and 185 chalets.

The regional authorities will now have to fund the demolition of the giant scheme that also includes 76 boat berths on an inland reservoir, as well as a further 385 chalets under construction.

The cousin of King Felipe and the son of former Prime Minister Jose Maria Aznar are among the investors, said to have paid up to half a million euros each.

Green group Ecologistas en Accion brought the case on the development in 2007.

In particular, it was built inside

the Red Natura 2000 network of EU protected areas.

The luxury resort was being built on an island of 135 hectares surrounded by the Valdecañas reservoir.

The demolition bill is estimated to cost around €145 million, including €34 million to restore the land to its original state, and €111 million paid to those losing their homes.

Valdecañas shot to fame as a luxury holiday resort particularly for residents in Madrid, as it boasted the nearest sandy beach to the capital.

While Ecologistas celebrated the result as a ‘positive outcome’, they are not '100%' happy as homeowners could stand to lose money.

Each buyer is believed to have signed a purchase form that exonerated the promoter in case of a demolition order.

HOLIDAY RENTALS – Bargain HANDLED PROFESSIONALLY basement Let Suncoaster handle your rental problems

N

OW is a better time than ever to be renting properties on the Costa Del Sol. Owners can make a small fortune and still keep their property to enjoy for their own family, holidays, and guests.

It seems like an easy prospect. List your property on a few portals, and start making money – but the reality is very different and the days of dropping off the keys and putting your feet up are long gone.

What do you do when the call arrives at 2am and there is a leak or the renters get locked out? When guests want to arrive late at night or there is an issue with the property portal or even a double booking?

Answering multiple enquiries, processing bookings, and payments can also be complex tasks.

In addition, many new owners do not realise that since 2016, all holiday rentals must comply with Rental Law – Decree 28/2016, which requires higher standards of facilities, equipment, and support.

This law also means every guest must be registered with the police within 24 hours of their arrival – all of this is the property owner’s responsibility.

From providing a 24-hour emergency ho-

For more information, go to: www. suncoasterhomecare.com.

Call and speak to one of the friendly team on: +34 952 93 94 15 or email: elizabeth@suncoastergroup.com

tline, key management, providing linen, organising changeovers, providing our trusted cleaners and maintenance team, and ensuring renters meet all legal requirements, Suncoaster arrange everything on your behalf.

In our 30 years in the industry, we have seen it all, and have refined our business for any eventuality. We list your property, deal with all enquiries and bookings, take care of the dreaded 2am emergency calls, and even provide a monthly inspection report for your peace of mind.

Unless you are prepared to be on call at all times, even when you are on holiday or with your kids, you need a property manager that adheres to the highest standards with professionalism and efficiency.

It can be a daunting prospect for anyone looking to rent their property, but with Suncoaster working beside you, you needn’t worry.

Since 1991, we have established ourselves as the gold standard of property management on the Costa del Sol, offering peace of mind, satisfied tenants, more clients, repeat bookings, and a reputation as a trusted renter.

A NEW report has revealed the 16 cheapest cities to buy a home in Spain.

The majority are in the south, with Huelva, Alicante and Almeria among the cheapest.

The most affordable is the barrio of El Carmen, in Huelva, where property values come in at just €566 per square metre.

Second comes La Chanca, in Almeria, which will set you back just €620 per square metre, while La Virgen de los Remedios in Alicante is just €677.

The report, by Idealista, lists a dozen more suburbs around Spain where prices come in for less than

€850 per square metre, including parts of Avila, (above) Caceres and Granada.

Under €800 per square metre there are four districts: Torreblanca in Sevilla, Esperanza in Almeria, Magraners in Lleida and La Magdalena in Jaen.

This compared to some parts of Madrid, Barcelona and San Sebastian where you can spend over €5,000 per square metre for property.

The average price of property for sale in Spain has registered a decrease of 0.3% over the last month and stands at €1,824 per square metre.

At Suncoaster, we think of everything so that you don’t have to.

THE GOLD STANDARD CHEAP AS CHIPS: Two barrios in Sevilla and (top) Avila are among the cheapest to buy in Spain IN PROPERTY SIGN UP WITH SUNCOASTER MANAGEMENT

XIX

February 2022

SIGN UP WITH SUNCOASTER FOR GUARANTEED SUCCESS IN HOLIDAY RENTALS

THE GOLD STANDARD IN PROPERTY MANAGEMENT AND RENTALS

Our 30 years of unrivalled experience and reputation are your guarantee of success in the Holiday Rental Market.

Renting your property with Suncoaster Group gives you the flexibility to enjoy your home in the sun whenever you choose, but make the best possible rental returns for the rest of the year with no stress and complete peace of mind.

We take care of everything involved in listing and renting your property including: Advertising, Bookings, Enquiries, Payment processing and Key management.

We also provide: Changeovers, Cleaning and Maintenance all undertaken by our trusted team, full linen service, 24hr emergency hotline, monthly inspections and more.

DUE TO EXCEPTIONALLY HIGH DEMAND WE ARE NOW LOOKING TO ADD WELL-PRESENTED APARTMENTS, VILLAS AND TOWN HOUSES TO OUR EXISTING PORTFOLIO.

CONTACT US NOW for more information and a no obligation chat: elizabeth@suncoastergroup.com or call +34 952 939 415 www.suncoasterhomecare.com

See the properties we currently manage and rent at: Suncoasterholidays.com

XX

February 2022

PROPERTY

After 18-months of the pandemic, hundreds of new hotels are opening (or reopening) around the Iberian Peninsula. George Mathias picks his favourite half dozen

I

T’S been a busy time for the opening of hip new hotels around Spain and Portugal.

And it’s going to get a whole lot busier over the course of 2022.

Some €2.85 billion is set to be invested into hotels around Spain this year, according to Colliers, a global investment portal.

Hundreds of new hotels are set to open around Andalucia, Valencia and Mallorca over the next few months.

On the Costa del Sol alone, some 29 hotels are to be completed this year.

This will add over 3,300 rooms to the local tourism industry.

Madrid has seen the opening of a trio of leading hotels over the last 12 months, including the Villa Magna, the Four Seasons and the Ritz, which just had a major three-year refurbishment.

The capital is also set to see The Madrid Edition open its doors later this year. The luxury hotel will be within walking distance to The Golden Triangle of Art near Puerta de Sol in the heart of the Spanish capital.

Meanwhile, London-based Hoxton Hotels is bringing it’s hipster-chic brand to Barcelona later in the year.

And across Spain there are a host of new openings, such as La Zambra in Mijas which reopens in June after a 12 year hiatus. Formerly Hotel Byblos, it was visited by Princess Diana in 1995.

Elsewhere, the Six Senses in Ibiza is welcoming guests to its slick 70s inspired property for ‘deep spiritual experiences rooted in the local culture, celebrating music, art, sustainable fashion, wellness and spirituality’.

For now, here are six recent openings that will certainly blow you away, while Jon Clarke also runs a rule over Madrid’s stylish Villa Magna (see overleaf).

HIP HOTELS Ikos Andalucia, Estepona Sandwiched between the cosmopolitan glamour of Marbella and Estepona, the Ikos offers miles of sand, bathed by cooling waters, and a beachfront setting on the tranquil shores of Playa de Guadalmansa.

An exclusive enclave, it offers more than 21 acres of landscaped gardens and leisure facilities, plus luxurious rooms and suites.

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February 2022

Hoteles Desconecta 2 - Monesterio, Badajoz

Wine & Books Lisboa Hotel Open from November 2021, this Lisbon hotel lies just 600 metres from Jeronimos Monastery and boasts five stars.

It is kitted out with a restaurant, private parking, fitness centre, bar, and sauna as well as a car rental service.

Wine & Books Lisboa also offers a terrace with stunning views of the city.

This luxury hotel opened its doors in October 2021.

Each room at the 5-star hotel has mountain views, and guests can enjoy access to a shared lounge and to a terrace.

All rooms at Hoteles Desconecta2 have a flat-screen TV and air conditioning.

Hotel Pez Espada, Torremolinos

Habitat Cigueña Negra, Cáceres Looking for a great countryside retreat? This beautiful hotel sits on a farm next to the Erjas river, in the wilds of Extremadura. Set in the Sierra de Gata the 12-room hotel was designed by Ana Martin and Lara Muñoz of the Emmme Studio and has its own restaurant and wonderful outdoor swimming pool. Visitors can enjoy a panoramic view of the entire estate during the day and the clear starry sky at night.

This famous grande dame has just had a total revamp.

But thankfully kept its coolest, hippest original features.

The lobby in particular is a joy, with its wonderful puddle marble floors and giant chandeliers.

Built in 1959, it has been frequented by a whole host of stars, including Elizabeth Taylor, Sophia Loren, Sean Connery, and Raquel Welch.

Frank Sinatra also visited the hotel countless times, culminating in the building of The Sinatra bar.

AFFINITY Property Boom!

‘If you are looking to sell, the time is now’ says Affinity Spain’s Mia Pearlman

AFFINITY Spain is a multi award winning and fully regulated real estate agency located in the heart of the Costa del Sol. In a Q+A with real estate agency Affinity Spain, Managing Director Mia Pearlman spoke exclusively to the Olive Press.

1. What is the property market in Spain like at the moment, are you noticing a pick up post COVID? For the first time we have a genuine property boom.

The prices are rising at a steady and sure rate, based on inflation and not banks over lending.

Despite the price increase on almost every type of property in the coast, the Costa del Sol is still cheaper than most other coastal holiday destinations in Europe.

2. Are you seeing any trends in the type of sales you are doing at the moment?

Yes, there is a new league of buyer now, and it's fuelling the high end market, mainly the villa market. Quite literally it's a property boom in itself, with high end properties reaching new records in terms of sales price/price per square metre.

El Vicenç de la Mar - Cala de Sant Vicent, Mallorca Opened in December 2021, this Mallorcan hotel with distinctive architecture features a restaurant, outdoor swimming pool, a fitness centre and bar.

All guests have a coffee machine, minibar, flatscreen TV and an iPad. There is also a spa and wellness centre, and a host of great nearby hiking and cycling trails.

3. What's planned for the year ahead?

2021 has been our biggest year ever and we are looking

to expand even further - we have doubled the size of our workforce.

COVID is well and truly on the back-burner for our clients, and the market has rebounded back stronger than ever.

We are excited to see Marbella and surrounding areas breaking new records!

4. Are you seeing a Brexit impact with fewer Brits buying houses?

We have not seen a decline due to Brexit; the Brits love Spain, and that will never change. Unless people are looking to fully relocate out here it's not really an issue.

However, our market has also diversified, with many more German, Dutch, and French buyers than we have previously seen, so it seems Marbella is going back to being a truly cosmopolitan destination.

5. Which areas do you see as being good for investment?

I would advise any buying client or investor to tick as may boxes as possible when looking for a property, that way

it always remains the most saleable or rentable property, even in a downturn. Those tick boxes include sea/mountain views, decent terrace size, and as close to amenities as possible. Close proximity to he beach is always a valuable asset to have. Most people have a car on the coast, so a 10-minute journey is generally acceptable. As always, buying the worst house in the best street is a very savvy move, although they are getting very hard to find nowadays!

If I could give only one message to your readers it would be that right now, this market is a vendor's market. For the first time in 10 years, vendors have the majority of the control and are in the strongest position we have seen for some time. If you are looking to sell, the time is now.

No question.

Get in touch: affinitypropertygroup.com +34 952 812 897 info@affinityspain.com

WE WANT W YOUR PROPERTY YO UR

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PROPERTY

Style and substance Big team effort behind five-star relaunch of the stylish Villa Magna in Madrid, writes Jon Clarke

A

THREE Michelin-star Navarran chef, a Spanish architect and an Australian design team have united to create the most exciting hotel opening in Madrid this winter.

Sprinkle in an Italian mixologist, an English art firm and an American sense of individualism, and you’ve got the perfect ingredients for a magical

stay in the capital.

Welcome to the five-star Rosewood Villa Magna, which has just been through a stunning 15-month refurbishment, befitting the famous hotel that first opened in 1972 out of a 19th century palace.

But forget the pomp and grandeur of its more famous five-star neighbours up the road, the Villa Magna is a celebration of style coupled with the very best of Iberian substance.

Cool lines, contemporary interventions and a duet of colour and light, you know you are in for something different as you ascend the sweeping stone staircase from the treelined Paseo Castellana, which gets even more dramatic at night.

A stylemeister’s dream, Spanish architect Ramon de Arana has combined perfectly with local landscape designer Gregorio Marañon to create a harmonious arrival, with a pair of angular pools UXURY is very much the tenet of its 154 rooms and suites, which have slept nuaccentuating its centumerous royals and celebrities in the past, including Brad Pitt, Justin Timberlake ry-old cedar pine and carand Madonna. ob trees.

L

Well appointed with a contemporary feel, each has a series of upholstered chairs and sofas, plus, in some, desks and two widescreen TVs. Our fifth-floor suite was particularly spacious, helped by a series of distressed mirrors and wall to wall windows looking out onto the treetops and skyline. It also featured a Marshall amp radio, a coffee machine and a legion of teas, plus fresh milk handily at the ready. Among other original touches was a gin and tonic table, set up ready to go.

Tempting and dangerous in equal measures, as many attempt Dry January.

Vanguard The high bar is maintained through the reception with its beautiful backdrop inspired by Basque fashion designer Balenciaga, while the other half dozen curated spaces of the ground floor add to the magic.

Each communicating cleverly, via a series of openings and passageways, they include a pair of restaurants, a central outdoor atrium and a vanguard bar, while a spa and gym take up the basement. Lighting is key, in particular a collection of hanging pendants, while two giant Art Deco lamps luminate the dining area.

All thanks to Australian team BAR Studio, who recently set up in Madrid.

PEAKY BLINDERS OF LAS BRASAS

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HEIR smart, casual uniforms stretch to Peaky Blinder hats for the kitchen staff, who are visible at all times, particularly in the excellent main restaurant, Las Brasas de Castellana, which also doubled as our breakfast venue.

A lovely dining room with three large divisions, it skillfully uses mirrors and shiny olive marble partitions to create both space and intimacy. In warm weather the main doors lead out onto a terrace that sits in the shade of the gardens.

I loved watching the legion of chefs at work, their frequent flashes of flame and trio of roaring ovens, their copper pans making up the scene.

The menu was comprehensive and Spanish in flavour, starting with a decent Tapas section with the likes of Razor clams and Russian salad, as well as a spicy Galician Beef Tartare, with pickles and capers and served with whole grain toast. As well as a real kick, it also came with a generous serving of excellent French Fries.

The fact that the provenance of the restaurant’s partners are displayed clearly on the menu is important to note. The butter from Cantabria and the eggs from Avicola Redondo, in Avila, stood out for their quality, in particular.

While the puddings were disappointing as they so often are in Spain, a good value three course set lunch at €38 will inevitably bring in the locals from around the barrio, particularly when it features such great specials as Confit Duck Risotto.

CASA LAS CHUMBERAS R3906091 – 1.500.000€ ‘An Oasis in the Village of Benahavis’ is the phrase used by friends and visitors to describe this south-facing villa for sale in Benahavis. Designed by the architect Antonio Martín Ortiz and built with high standards for the owners, by a local company. One of the top 5 villas in Benahavís village.

BED: 4 | BATH: 4 | BUILT SIZE: 497M2 | TERRACE SIZE: 285 M2 | GARDEN/PLOT: 1100 M2 GARAGE: YES | GARDEN: YES | SWIMMING POOL: YES

T: +34 952 85 54 89 E: info@propertiespain.com W: www.propertiespain.com Urb. La Aldea Plaza Camilo José Cela, Local 1 29679 Benahavís, Málaga, Spain

XXIV

February 2022

PROPERTY

Luxury in the clouds as tallest residential building in the EU finally opens

Takes your breath away

IT took 15 years to build at a cost of €86 million but Benidorm’s latest and by far its largest - landmark has finally opened its doors.

The record-breaking Intempo skyscraper at 47 floors and 198 metres high is the EU’s tallest residential building.

And it also has some of Spain’s priciest apartments.

The two residences on the 45th floor boast an expansive 300 square metres of space and have been sold for more than €2 million apiece.

The other options include two bedroom flats covering 75 square metres as well as 95 square metres.

The prices started from €250,000, but those after a bargain may have missed out.

At the moment the cheapest property on sale is a 95 square metre apartment selling for €317,000.

The massive block also has 13,000 square metres of common areas, including an 800-square-metre pool on the ground floor.

Those in the most exclusive top floors don’t have to descend to ground level when they fancy a swim, though - a heated indoor pool with stunning sea views is housed on the 46th floor. And above that are more communal areas including four Jacuzzis and a cocktail bar.

The skyscraper has a long and chequered history. Building work started in 2007 with a scheduled completion date of 2009.

The economic crisis of 2008, which badly hit Spain’s real estate sector, caused the first in a set of serious delays.

The Intempo was almost finished in 2014 but the promoter went bankrupt.

The skyscraper was bought by SVP Global in 2018 with an initial projection that the building would be fully completed by the first quarter of 2021.

REAL ESTATE WITH THE PERSONAL TOUCH Imperial Estate brings more than 20 years experience to help smooth the way in your property transactions

L

OOKING to discover and buy your dream home here Have a look at our website and find your perfect home. on the Costa del Sol - or perhaps the time has come Either second hand or under construction to sell or upgrade your property? we are going to guide you all the way through You can eliminate the stress, hassle and general headache which your purchase experience. can tend to be part and parcel of the process by choosing Imperial Estate to help guide and navigate you, professionally and seamlessly, through the whole Very bright apartment in Lower part, beautiful apartment process, from start to finish.

FUENGIROLA, TORREBLANCA LOS BOLICHES, FUENGIROLA excellent location with all in residential area within walking Established in 1999 Imperial Estate offers clients a dedicated and personalised service, services at the door step. distance to the beautiful beaches, individually tailored to their clients’ individual needs and requests. Spacious with 3 bedrooms, train station, shops, etc. Very bathroom, fitted spacious and bright makes an ideal A family business, centrally located in Fuengirola, Fabiola and her team bring tofully bear ankitchen, lounge diner leading to sunny home. Offering 1 double bedroom, intimate knowledge of the local market. terrace with open views over city, bathroom, kitchen, lounge and And as part of an extensive network of estate agents with a shared database they guarsea and montains, very pleasant terrace overlooking the beautiful cosy home it is really community gardens, fully furnished antee that your property will be visible and accessible to any potentialand buyers. a visit. with the possibility to make You can take advantage of the free cutting-edge virtual tours service, worth professional phoanother bedroom. Good value for tographs, energy efficiency certification among many other features and personal touchthis very pleasant apartment with community salted pool, gardens es which Fabiola and her team provide, as part of their service. and parking.

You can also trust the team at Imperial Estate to take care of renting out your home or property, and ensuring it is managed securely and professionally.

Ref: 065 – 250.000€ Ref: 069 – 149.000€ So why not drop into their Fuengirola office to speak to Fabiola or to one of her friendly, knowledgeable, multilingual team about your property requirements Very andlarge takeapartment the firstin Very spacious apartment in TORREBLANCA FUENGIROLA CENTRE step in finding your dream home. prestigious building with all very quiet area very close to the and amenities beach and services, train station, Browse their website and property listings on www.imperialestate.comservices and take the op-on the door step.

Comprising of 5 bedrooms, 4 etc. Very bright with 3 bedrooms, portunity to list your own property on the website absolutely free! bathrooms, spacious kitchen, large 2 bathrooms, fully fitted kitchen, Check out their handy online property valuation tool, and subscribe tolounge their with mailing accesslist, to large terrace spacious lounge and terrace of approx. 100m2, wrapping overlooking the mountains. and be first in line to receive the latest property listings. around most of the apartment.

Very sunny and bright south facing with open views over Mijas Call or email Fabiola and her team on: +34 952 664 966 mountains, sea and town. Needs updating having great potential as or +34 656 815 699, and at info@imperialestate.com a home or divide into home and rental apartment. Must be seen!

Very nice communal pool and gardens makes a perfect home or holiday rental income.

Private garage space 100m from the building.

Visit without commitment!

Ref: L023 – 295.000€

Ref: L016 – 549.000€ FUENGIROLA

Sea front, very bright and sunny apartment overlooking the sea,

FUENGIROLA FERIA

Feria ground area, very cosy and bright apartment in nice

Have a look at our website and find your perfect home.

Either second hand or under construction we are going to guide you all the way through your purchase experience.

LOS BOLICHES, FUENGIROLA

Very bright apartment in excellent location with all services at the door step.

Spacious with 3 bedrooms, bathroom, fully fitted kitchen, lounge diner leading to sunny terrace with open views over city, sea and montains, very pleasant and cosy home it is really worth a visit.

FUENGIROLA, TORREBLANCA

Ref: 065 – 250.000€ FUENGIROLA CENTRE

Very large apartment in prestigious building with all services and amenities on the door step. Comprising of 5 bedrooms, 4 bathrooms, spacious kitchen, large lounge with access to large terrace of approx. 100m2, wrapping around most of the apartment.

Very sunny and bright south facing with open views over Mijas mountains, sea and town. Needs updating having great potential as a home or divide into home and rental apartment. Must be seen!

Ref: 069 – 149.000€ TORREBLANCA

Sea front, very bright and sunny apartment overlooking the sea, sun rise and sun set from the large south facing terrace.

Very spacious with 3 bedrooms, 2 bathrooms, spacious kitchen with utility room, lounge-diner with direct access to 43m2 terrace with beautiful sea views and sun all day. Underground garage and store room included, community gardens. A real gem by the sea worth paying a visit! Great rental potential and ideal home.

FUENGIROLA FERIA

Ref: L025 – 595.000€ MIJAS

Country side small cosy house for nature lovers, situated in the outskirts of Fuengirola near Mijas Golf, this charming property in a very quiet area offers lots of potential, 77m2 built on 4626m2 plot. Overlooking mountains and country side and yet only a few minutes drive to town.

Ref: 154 – 205.000€

Very spacious apartment in very quiet area very close to the beach and services, train station, etc. Very bright with 3 bedrooms, 2 bathrooms, fully fitted kitchen, spacious lounge and terrace overlooking the mountains.

Very nice communal pool and gardens makes a perfect home or holiday rental income.

Private garage space 100m from the building.

Visit without commitment!

Ref: L023 – 295.000€

Ref: L016 – 549.000€ FUENGIROLA

Lower part, beautiful apartment in residential area within walking distance to the beautiful beaches, train station, shops, etc. Very spacious and bright makes an ideal home. Offering 1 double bedroom, bathroom, kitchen, lounge and terrace overlooking the beautiful community gardens, fully furnished with the possibility to make another bedroom. Good value for this very pleasant apartment with community salted pool, gardens and parking.

Feria ground area, very cosy and bright apartment in nice neighbourhood surrounded by shops, restaurants and near all kind of services. Offering 3 bedrooms, 2 bathrooms, fully fitted spacious kitchen and lounge leading to sunny terrace. Low running costs, makes a nice warm home and has great rental potential.

Ref: L026 – 235.000€ BENALMÁDENA

In the very prestigious Higuerón area, this modern apartment offers lots of space, tranquility, great views and comfort. Great investment as it has fantastic rental potential. Offering 3 bedrooms, 2 bathrooms, fully fitted kitchen, lounge and large terrace with panoramic views over the sea and mountains. Fully air conditioned. Beautiful communal gardens and pool, private underground garage space.

You will enjoy the visit!

Ref: L024 – 345.000€

WE NEED PROPERTIES FOR KEEN CLIENTS WAITING TO BUY A HOME OR INVESTMENT PROPERTY. CONTACT US WITHOUT COMMITMENT AND WE WILL PROVIDE VERY INTERESTING AND USEFUL INFORMATION! TEL: 952 664 966 INFO@IMPERIALESTATE.COM WWW.IMPERIALESTATE.COM

XXVI

February 2022

PROPERTY OF THE WEEK EX

U CL

SI

VE

PROPERTY

THE FRIENDLY FACE OF REAL ESTATE Kristina Szekely knows the Costa del Sol and Gibraltar like the back of her hand and many of her clients have become good friends, writes George Mathias

AP361

118.000€ Alcaucin, Malaga

2 bed, 1 bath Build: 92m2

This spectacular flat is located very close to Sierra Tejeda where you can find the highest mountain of the province at more than 2,000 meters above sea level “La Maroma” a place that offers many hiking trails. The property has been used very few times by the owners and is like new.

Axarquia Office +34 637 26 43 53 info@inlandandalucia.com

www.inlandandalucia.com

OVER 250,000 PROPERTIES FROM 2,000+ AGENTS

A

FTER more than 40 years of business, Kristina Szekely has more than made her mark on the Costa Del Sol. Her real estate empire has a distinctly cosmopolitan flavour, with German, Spanish, and Swiss employees giving her Puerto Banus office the feel of a mini Europe.

She explains: “A client here will almost certainly be able to speak their native tongue to one of us.”

Kristina herself speaks seven languages, having been brought up in Budapest and Sweden, before moving to Spain where she learnt English, Swedish, German and French.

The key to her success is her love of meeting people.

“My clients are my friends and my friends often become my clients,” she says.

The business also has offices in Marbella, Sotogrande, and Gibraltar.

Kristina tells me Gibraltar has been a safe haven for invest-

ment over the past decade, and it has become a real battleground for buyers as its desirability continues to go up.

“The appeal is obvious, it has great healthcare, an airport, and beautiful views everywhere,” she says.

They are not just confined to selling homes either, having more recently delved into the restaurant and hotel market.

Her contacts extend far beyond Spanish borders, she even tells me she is currently working on a site in Miami.

“I like to get to know the people, I still meet some of my old clients who I first sold to 40 years ago.”

Her breadth of knowledge of Andalucia is obvious. In a recent meeting with a client, she even recommended a school for her kids. In fact she is more than happy to make any other recommendation that the client needs to feel comfortable.

Above all, her love of Spain and Spanish culture is the driving force behind her work.

“Everytime I go abroad, I feel something is missing, and when I return to Spain, I feel completely content again,” she says.

Though much of the business has migrated online, Kristina says that there is no substitute for face-to-face meetings to get to know the client.

Her office is open most hours of the day and in summer it closes at midnight, such is her belief in the value of business with a handshake rather than an email.

Coronavirus seems to have had a minimal impact on the running of business, nevertheless everyone around them and within the office team has had to regularly pass the COVID test.

“I think, that having had three

vaccines, I will be immune for a long time,” she adds, saying that a safe working environment is a priority.

“We only closed our office for two months, then everyone was back in the office, with strict health protocols in place.

As a Member of the Marbella Rotary Club and past President of the female Association for professional ladies, AMPREM, Kristina actively supports local charities.

Little wonder then that business is booming.

ksmarbella.com +34 952 81 40 40 info@kssir.com

CONTEM PRESTIGIO

MORTGAGE THINK TANK

by Tancrede de Pola

M

KSSIR-26538P

BOOM TIME

ORTGAGE approval numbers The villa is walking are soaring.

Figures show that the numCommercial Centre ber of loans approved yearheated swimming poo in-year last November rose by 24.1%, making it the strongest month since hallway with glass stair the 2010. Some 36,220 home loans Don’t skip on getting a mortgage broker, writes fireplace and direct ac were agreed as the property market Finance Bureau’s Tancrede de Pola second living room, full b not only bounced back after pandemic restrictions, but actually started to acts as a go-between for the client It is important to know cou exactly is ntewhat rs and boom. and the bank – but it is important to attached to your mortgage. What may top applia This is a trend that we at the Finance remember that the broker is not con- seem like a great be soured war CONTEMPORARY VILLA IN rate THEcan HEART OF Bureau have noticed continuing in the nected to the bank – and works to find by expensive – and sometimes unnecPRESTIGIOUS GOLF ESTATE, GUADALMINA ALTA months since. Anecdotally, many of the buyer the best deal available. essary – insurance packages. our colleagues in real It is essential to have Using a brokereuros will save both time and 1.395.000 estate have been reportsomeone in your corner money as they will be looking out for KSSIR-26538P · Bedrooms: 5 · Bathrooms: 4 · Build: 459 m2 · Plot: 653 m2 ing some astounding figto highlight any hidden these hidden add-ons and will always The villa is walking distance to the Club House and within a short stroll to the Guadalmina One agency in fees or compulsory Very ures. One agency in Maradd- look for ways to lessen their impact.

Commercial Centre. This extraordinary villa has a fantastic landscaped garden with its own pool. bella has already sold ons tucked away in the And while the vast majority of banks heated swimming pool. The access to the villa is through a pivoting door leading to large entrance Marbella has hallway withto glass stairs case and panoramicthe lift to allfees levels, large plan lounge with open gas spac over €9 million worth of small print and ensure specify andopencommissions fireplace and direct access to the covered terrace and garden, separate dining room, bedroom or Mo already sold property since the start you get the best possithey charge, not all of these costs are second living room, full bathroom, absolutely beautiful modern kitchen with very large island, Silestone wit of the year, while others ble mortgage rate to suit always declared. counters and top appliances by Gaggenau.

First floor comprises; three spacious bedrooms, all with maste €9mn worth of your needs and circumwarm wooden floors, master suite has a good walk-in... a good have told us about their But the best way to size ensure property best start to the year in stances. mortgage that does not hide anything M ApitR B in E the L Lfine A print · Pis U R T the O help B AofN U S · S terms of sales they have One of the biggest to E solicit ever experienced. falls can be ‘trap-relat- a mortgage broker.

But with sales booming, it’s important ed products’ that often get hidden When it comes to picking a mortgage, to remember how crucial mortgage in the small print. These additional you must get it right on the first try brokers can be. products get attached to your mort- as due to the relatively high transacWith established links to all the major gage and usually include insurance tion costs, it is virtually impossible to Spanish lenders the Finance Bureau policies. reverse.

M A

www.thinkSPAIN.com

To contact Tancrede for all your mortgaging needs call: 666 709 743 or for insurance queries call: 951 203 540 Email: tdp@thefinanacebureau.com The Finance Bureau Centro Commercial Guadalmina, 2nOffice No. 7 Guadalmina, 29670

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XXVIII

February 2022

PROPERTY

Very Moorish

NEWLY DISCOVERED: Hammam bath house in Sevilla bar

After archaeologists found an ancient Moorish bathhouse under a bar in Sevilla and a third mosque in Toledo, we explore how Islam gave Spain so much architecture to worship

S

OUTHERN Spain is Europe’s most Arab-influenced region.

Knock down or renovate a building anywhere from Valencia to Velez Malaga and chances are they’ll be a 10th or 12th century gem to be discovered below.

From art to cuisine and, of course, language, the Moors left an indelible mark on Spain.

But it is their monumental skill for architecture - particularly with mosques - that transfixes visitors to this day.

After a hamman (bath house) emerged in the basement of a bar being renovated in Sevilla last year and a newly-discovered mosque emerged in Toledo, the Olive Press scoured the country to dig out the most impressive Moorish buildings.

Almonaster Mosque, Huelva THE Almonaster mosque reveals a lot about Huelva’s Moorish history as one of the last surviving gems in the city.

Built on the site of a fifth-century Visigoth basilica, this is one of few surviving rural mosques

in the country.

The mezquita has three components in a trapezoidal shape: the pillared prayer hall (Haram), the courtyard of ablutions (Sham), and the classic minaret tower for the call to prayer.

ONLOOKER: At new Moorish ruins in Toledo

The Mezquita, Cordoba

THIS breathtaking mosque is one of the most visited in the world and it’s no wonder it’s been labelled a UNESCO World Heritage site.

Packed with a forest of brickwork columns and double arches, climbing the steps of its bell tower offers stunning views of the city.

The structure is regarded as one of the most accompli-

shed monuments of Moorish architecture.

A small Visigoth church, the Catholic Basilica of Saint Vincent of Lérins, originally stood on the site. In 784 Abd al-Rahman I ordered construction of the Great Mosque, which was considerably expanded by later Muslim rulers.

The Alcazar, Jerez de la Frontera Mosque of Cristo de la Luz, Toledo THIS square structure is one of the only mosques to remain unchanged since Moorish times.

It features classic horseshoe arches with outside gardens transporting visitors one thousand years back in time.

A fragment of Roman road, preserved under a glass floor, transports tourists even further back in time.

The mosque’s viewing balcony offers beautiful views of the outskirts of the city.

First constructed by Andalucia’s Moorish rulers back in the 11th century, the Alcazar is is one of the last-remaining examples of Almohad architecture on the Iberian peninsula. Many centuries of history are preserved in its lofty towers and massive 4,000m walls.

Climb to the top of this monumental eyrie for a bird’s eye view of the whole city.

XXIX

February 2022

Mosque of las Tornerías, Toledo

And here are two modern examples

BUILT in the middle of the 11th century on the foundations of Roman architecture, las Tornerias lords it over the old Muslim neighbourhood of Arrabal de Francos.

The mosque continued promoting Islam in Spain well beyond the reconquest of the city by the Christian troops of Alfonso VI of León and Castile in 1085. It was in use until the early 16th century when it was deconsecrated by the Catholic Monarchs.

Later it became an inn, and was also put to commercial and residential use.

The Giralda, Sevilla The Renaissance-style bell tower of Sevilla Cathedral was originally built as a minaret under Moorish rule. Piercing the sky at a height of 104.1 metres, it has become the symbol of the city, recognised the world over. Curiously it was designed with a ramp rather than steps so that the muezzin could ride a horse to the top to recite the Adhan (call to prayer). UNESCO rightly honoured it with World Heritage status in 1987.

Today it’s one of the city’s top tourist attractions.

Madrid Central Mosque

SELL WITH THE BEST!

King Abdul Aziz Mosque, Marbella Another mosque to be built in modern times, this Islamic place of worship was funded by Saudi Arabia in honour of their late King Fahd, one of Marbella’s wealthiest frequent visitors.

It can hold over 800 people and consists of housing for the imam, a library and beautiful gardens. Every summer, billionaire Arab royals and their retinues retreat to the mosque after docking their megayachts in Puerto Banus and Marbella.

THIS new kid on the Islamic block aka Abu-Bakr Mosque can be found in Madrid’s Tetuán district. Spread over four floors, it also holds offices, a nursery, school, library, auditorium and shop.

After its dedication as Waqf land - a charitable entity under Islamic law - it still took years to collect enough individual donations to construct the mosque. Finally opened in 1988, it became the first mosque in the capital since the end of the Islamic occupation in 1085.

Thinking of Selling?

We urgently need properties all the way from Sotogrande to Benalmadena for eager buyers.

SPANISH ESTATE AGENT

Phone us now on +34 951 516 905

IT’S YOUR MOVE!

• A database of over 10,000 potential clients across all continents.

• Tap into our worldwide, award-winning marketing.

• Experienced, professional and dynamic sales team.

Email us at info@thespanishestateagent.com visit our website at www.thespanishestateagent.com or visit us at Avenida España 250, Estepona 29680.

PROPERTY

XXX

February 2022

STRONG DEMAND But there is a shortage of supply in all regions, writes surveyor Campbell Ferguson in his 29th market report on Spain

I

T should be a good year for Spanish property.

There was already strong demand when the COVID travel restrictions started to ease over the last few months.

This will only get stronger with demand coming from all Northern European countries, with America, the Middle East and even the Far East providing buyers.

Much of this is to do with the ‘Golden Visa’ scheme, which is becoming increasingly popular and creating more demand for the higher end of the market.

THE KEY POINTS

have continued to be a major in● COVID and travel restrictions been relaxations followed by have e Ther ket. fluence on the mar has added to the general that s, basi tightening on an irregular rs and sellers. However, buye of uncertainty and resultant caution in the principal marand n Spai with vaccination levels high both in this year, we should and ism optim ning retur is ket sources, there do with seasonal flu we as it’, with live ‘just reach a stage where we h of the surplus of muc up n take ● The strengthening of demand has s. While a concern, construcnew properties built over recent year get more resale properties be to tion is still strong, and the key will increasing reports of shortage out on the market. There have been s price up of supply, which is likely to push rial costs will lead to himate ing build in ase incre ble idera ● The cons ersions, and therefore conv and s ertie prop build gher prices of new price sensitive buyer the to ctive attra e mor make resale properties s for better use of plan and ght ● There has been much talk of drou storage are being seen throur water and the expansion of wate changes of the Climate Crisis ghout the country, as the long term ty accepted. reali its and are beginning to be felt,

Truly international New StartGroup office open in Benalmadena

S

The Spanish have also become strong buyers on the costas over the last year.

The main issue ahead is going to be a shortage of supply of all property types and in all price ranges in most areas.

It has meant seeing prices start to creep up already and this will accelerate if the supply shortage continues.

One good thing is the continuing growth in new build properties, which are getting higher than average prices.

That said, discounts are still possible and it is always worth asking, although there are far fewer distressed properties now than there were two years ago.

OTHER KEY THINGS TO LOOK OUT FOR: ● Official Property Descriptions: A law that came into force in 2015 requiring all property titles to be identical to the Catastral and Nota simple. This law effectively requires a topographical survey of all properties for which there is a difference between the Catastral and Nota Simple. It is an obligation that the seller should have to comply with, and we are informed that more notaries are requesting it before agreeing sales.

As organising the change can take many months, owners are advised to have the process carried out well before starting to market a property ● Possible new Rental Law on the horizon: In November 2021, a more restrictive law on renting and of greater benefit to occupiers was proposed. This means that regional governments can increase taxes; impose rent controls on prices and increase the difficulty of repossession due to non-payment or squatters. There are a number of flaws and complaints that means it will need much more work before going to vote. In Andalucia, the Junta has stated it will not bring in the law, meaning more foreign investment is likely, spurring job creation and wealth, but perhaps endangering the environment and climate change targets.

START

July to December 8.94% - Ranging from -1.87% for an apartment in Casares, to -18.92% for a flooded finca that had been empty for a year.

FIRST 2 QUARTERS OF 2021 January to June 10.80% - Ranging from -3.35% for a S/D Villa in Tarragona, to -26.72% for a remodelled villa with problems in Marbella.

2ND 2 QUARTERS OF 2021 July to December 10.44% - The smallest was two of 0.00%. Both were in the last quarter, paying the asking price for two very different properties. A villa in Marbella priced at nearly €9 million and the other at less than €200,000 for a townhouse in a small pueblo in Granada. The largest difference was -18.6% for a country villa in Marbella, with problems obtaining an amendment to an existing AFO.

REPORT CONCLUSION As with the last report, it’s further evidence of increased demand, which will see prices rising unless supply increases.

PropPertroPypreorptyert

www.theolivepress.es

www.theolivep

ress.es

Bye bye Bofill

February 2022

Issue 28

A taste of the future or a galactic waste of money?

See page XIV

www.theoliv epress.com

New fans

April 2019 Issue 32

in’s erty Spa prop ine to az go- mag

From all of us at the Olive Press, we hope you enjoyed reading our relaunched Property magazine, which is back on a bimonthly basis all year, and keep an eye out over the coming months for the next edition.

If you would like to collaborate, then please contact us to discuss our tailored marketing strategies by phone on 951 27 35 75 or email accounts@theolivepress.es

’s y ga ert ala p e M proazin st g be ma

For more information on what StartGroup can do for you, contact them on their website www.startgroup. com, by phone on +34 952 90 48 90, or by email: info@startgroup.com

LAST TWO QUARTERS OF 2020

st be ’s rty e ain pe zin Sp pro ga a m

TARTGROUP is the leading Estate Agent on Mijas Costa with 20 years experience that values its client relationships above everything else.

Established in 2003, they are a truly international company with English, Spanish, Swedish, Norwegian, Dutch, French, German, Russian and Polish employees.

StartGroup prides itself on client care both before and after property sales, having been founded on the motto: “Service from Start to Finish.”

All StartGroup staff undergo training by an external auditor as soon as they join the company so you can be sure that you are dealing with professionals of the utmost quality.

In September 2021, StartGroup was the first company in the world to have all its staff certified by the International Association of Property Professionals.

StartGroup has local knowledge that only 20 years of experience can provide.

It judges its success not by the number of sales but by the vast number of clients that return to do business.

There has never been a better time to buy on the Costa del Sol and with StartGroup, you can rest assured that you are partnering with the best in the business.

Apart from the well established office in Calahonda, there is also a new office in Torrequebrada which opened in October 2021.

The beautiful coastal views are a fitting venue for a business that has continued to thrive.

For international buyers, the knowledge required to navigate Spanish bureaucracy can be overwhelming.

But with StartGroup though, you needn’t worry.

They have the legal knowledge and expertise to help you invest in your dream property without being drowned in paperwork.

StartGroup is an officially licensed estate agent, accredited by both the The Professional Association of Real Estate Managers in Building Promotions and the CEI. Ultimately, the principles of honesty and fairness on which the business was founded 20 years ago remain as strong today as they ever were.

AVERAGE DIFFERENCE BETWEEN ASKING PRICE AND ACTUAL SELLING PRICE

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PLASTIC FANTAST IC: How this architectural remarkable prize, See centre could page IV win

August 2019

Spain importan

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JAW-DRO in battle PPING: Span ish firm wow for awar d SEE PAGE s judges VI

Why this medieval town - amo ng others praised is being top archby Spain’s see pageitects, XIV

The Olive Press pays tribute to a Spanish genius, whose architectural tenticles spread widely, and were even said to have inspired last hit tv series the Squid Game years

See page VI

WOAH: Emerging from the rock, this stunning home in Valencia is trademark Fran Silves a Spanish tre, architect who is continuing to make his mark in the architectura l world.

See Fran-tastic page XVI

SHEIKH IT UP KEEP TH E GOOD R O C K TIN EAGDY TIME T S ROS LL Man City down the owner snaps up €16 road from million

Julio Igles mans MANCH ias near Marbion er SheikhESTER City FC ownella neighbours Mansour will soon be €150,000 a year in emerged. with Julio Iglesias, extra income.

His it has metrenew pad even The football private dam, sports a 60 x mogul, 48, out on a stunning 12 watering used has €16 million,splashed Mansou animals and firefor irrigation, farm near prevention.

Monda. r, who is 25-acre Set

deputy Prime ister of the on the HE average UAE, Minlas Nieves, edge of the idyllic Sierra de battled Spanish popwill also count emFinca Moratan two consecutiproperty price in Spain has comes complete among star y Bornoqu The national ve years for the first time grown for Prices e The his neighbours. Julio Iglesias 72-metre-square with four farmhou ses, a child lothario singer, pool rise The Emirati 3.9% to 8.4%, average house price rose in a decade. forand a guest cottage. was recently 75 - whose love from between while according royal cantwo consec Along the Mediterr LUCKY: Sheikh hands dirty his proved utive even get son - owns mortg years, sources.

Mansour anean coasts to various with age his Cuatro 100% foreigners buy, walnut plantatio the €145 to beHowever his new values and on , he added ‘at Lunas in nearby million Las home’s contin ns, cork cattle to Tinsa, Spain’sthe average price hike hasthe islands, where most the very least, HOME sales in December were the second-highest tocannot Ojen. Spanish farm and Even theue grow property continued which can Sheikh been 4.06%, according Balearicfields, the data suggests leading on record SPRAW in Spain.

Islands. sician’s mansion property appraisal But the figures generate over And 2022 has kicked off where last year ended…

LING: Sheikh’s to grow rival theMortgag that the e lending “Prices have mu- house have , which boasts company. going up pools, new estatelast year.’ andmostly up fore,” during the home buyers explained a recordin been rising most January Scott Marshall, up! across to in Monda long six year andnot yet made up for the fourfrom toPropertieSpain 450 in Benahavis. g studio meanwhi but 19,390 nothing years The recession, with since enquiries estate -new acres. like big loans, according“And le was up 6.1% in are coming and a Spanish Andalucia, Valencia and Murcia are leading the recovery guest in thick and fast.”

Notaries. the exception drops enough to claw they did in the boom years, sale the charge on the mainland, artist’s last year - which Iglesias put to the Associati Meanwhile, secret wedding of the spected back Benbegan, each seeing spectacular growth by over a quarter Bateman The and nowhere was also on of to on fromaverage Sotogrande’s new loan Holmes near an analyst Markthe ground lost in the against last Christmas. “Sales were up 26% siteadded: Miranda madeagency of the “It jnsburger in 2010, could be inthe a bust,” increase record January While Andalucia saw 29% more sales than year Stucklin, if we can on explained 2019, get theofright showing had a guests.

0.9%number the market has more than recovof Spanish“Last of new value of €135,616in front of just Rilast December, Valencia and ered the ground listings. in a year. residentia Property year was 15 As long Murcia posted figures of 26% and 25% respectively. the rebest year it lost to the pandemic. The , since l acquisitio Insight. as mortgage and we remain confident ns continues for the last few2008 lending undergoing a post-pandemic boom in sales.” Spanish housing market is 2022.” to increase, The Balearics experienced a 41% uplift, while years, the Spanish as it has done for the Canaries saw a property 44% Adam Neale, In total, 72,023 property sales were completed for at rise in December’s year on year figures. in December, according last year, with Terra Meridiana, in Estepona, also recorded recordmarket sales is set to grow. to official figures. nearly 100 million “Home sales in December

After almost record December sales, January is also performing strongly

set almost a record buoyant Spain’s housing market is despite high, illustrating quite how the pandemic,” said property analyst Markthe ongoing repercussions of Stucklin.

According to a trio of leading estate agents also begun well, despite concerns over supply.in Andalucia, the year has “We sold three properties in January, which is three more than ever be-

of properties sold in 2021.

“It was a very busy year and it didn’t stop last month, it just keeps coming, particularly now people can travel again.”

The highest December property figures 80,000 properties were sold around Spain. were in 2010 when nearly

Calahonda´s leading real estate agency has opened a new office in Torrequebrada, Benalmádena.

Please visit our office if you are interested in buying or selling your property!

STARTGROUP is the first company in the world to be certified by AIPP, the leading organization for international real estate agents.

Quality - Knowledge - Experience!

Our office in Calahonda

Our office in Torrequebrada

Phase 2 Sold Out! New phase available soon!

Our Exclusive New Development in Calanova

Our Exclusive New Development in La Cala de Mijas

We are proud to present you our international team.

We speak Swedish, English, Spanish, Dutch, French, Norwegian, Russian and Polish!

WE WANT YOUR PROPERTY If you want to sell your property or already have your property on the market with another agent,

CONTACT US NOW! We do not need exclusivity – we have 100’s of buying clients and a free marketing package that no other agent offers!

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“At last we found a brilliant real estate company that sold our property in days” MÁLAGA | MIJAS | MARELLA | BENAHAVIS | ESTEPONA | CASARES | LA DUQUESA | SOTOGRANDE info@affinityspain.com

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