WEEKEND WORLD NEWSPAPER - PROPERTY SUPPLEMENT

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Issue 19 MAY 12 - May 25, 2016

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Issue 19 MAY 12 - 25, 2016

2 - WEEKEND WORLD PROPERTY SUPPLEMENT

PROPERTY NEWS Why Buy in Spain?

Spain has a great variety of landscapes, from mountains and lakes in the north to sandy beaches, olive groves and vineyards in the south. The drive from Burgos in the northwest to Malaga in the south-east takes you through so many different panoramas; you could be forgiven for thinking you are driving through several different countries. For years the south-eastern Mediterranean coast has been one of Europe’s most popular holiday destinations and is the place of choice for most British second homes. However, in recent years the north-west (Galicia) with its craggy shores on the Atlantic is attracting a large amount of attention amongst buyers looking for more rural retreats away from the tourist hubs of the Costas - at more sensible prices.

Only in the last two or three decades, and since Spain’s entry into the European Union, have things really begun to move ahead and to modernise. For those who live in the countryside however, life remains quite traditional and unchanged, blissfully so to visitors who look back to a more intimate and unspoilt village life that is long past in most countries.

People are also attracted by the relaxed and slower way of life in Spain and the culinary delights like paella and tortillas are legendary... and affordable. Overall, there are loads of reasons that Spain is the number one destination for Britons buying abroad.

Legalities Based on news stories about property buyers in Spain having their property demolished, I think it’s safe to say that buyers now realise that it’s not only imperative to get a solicitor, but it’s absolutely necessary to get a good solicitor.

Another vital factor is that you need to find a solicitor who is independent from the estate agent, developer or company showing you the properties, so that you know the solicitor is working for you and not the property professional. Some solicitors may draw up a contract of sale which is in favour of the estate agent (or end seller), and the reason behind this is quite disingenuous. By safeguarding the agent the solicitors will be assured of retaining their valuable business. Compare your one transaction to the many the solicitor stands to gain from the agent or developer and you will understand the clear conflict of interest here.

Getting Started Buying a property and living in Spain is straightforward if you are a national from another EEC (European Economic Community) country. If however, your nationality falls outside the Euro zone you may be able to buy a property but there might be time restrictions as to how long you can stay in the country. Furthermore, there are certain guidelines as to work

permits for non EEC nationals. You can find out information pertinent to you by accessing the Spanish Embassy website or through a variety of internet websites. There are also specialist emigration organisations that will often do a free consultation letting you know your options.

Finance In Spain purchase costs could be 10%+ over and above the purchase price and when considering the dramatic changes in currency exchange rates, this percentage could climb much higher. So, if your property price is £100,000 it could cost £110,000 (or more) by the time you complete and take possession of the property. It’s important from the start that you clearly understand how much a property will cost you as this will determine what price range you can look at.

While researching the Internet, attending property trade shows and emailing estate agents, start to investigate what

is included in the property price versus what gets added on. In Spain the purchase price includes the estate agency fee (usually 5%, but nowadays maybe 3%). For all property and land, 10% of the purchase price is paid as a transfer tax that goes to the Spanish Treasury. In addition, there are notary fees and a land/property registration fee, which varies according to the purchase price of the property. Also consider solicitors and mortgage fees. Solicitors usually charge 1% of the purchase price + VAT at 21%.

Make sure that you have done your homework and that you are using a reliable and trustworthy solicitor. This may include asking for personal referrals - and these must not include your developer or agent - or using specialised Spanish websites. If the solicitor does not fully comprehend English or you have any reservations at all - move on and find someone else. Your solicitor will review the sale agreement, verify titles, and carry out other checks to ensure that you’re protected.

They, or a notary, may be responsible for paying any taxes and registering the property with the land registry if this is required. Charges vary for legal and notary services but can cost around 1% to 2% of the sale value of the property. In Spain the cost is determined by the government.

You need to bear in mind that the legal system in Spain may not work in your favour if trouble strikes, so it is of paramount importance that you hire qualified people who can ensure that you do not have to take legal action. Don’t put yourself in the position of needing legal redress. You may have the law on your side but the legal system abroad can keep you tied up for years and cost a fortune. Make sure you - and your solicitor - get it right from the start and the purchase will move forward easily, most purchases in Spain do, you only hear about those that don’t.

LUXURY VIVIENDAS HOUSING DE LUJO in EN

MADRID Yand COSTA DEL SOL COSTA DEL SOL

M Á O SR ED ET H4 A. 0N 0 0 4 . I0N0M0 U EE BS LT EA ST EE SN

338 m22 150

bed 23 dorm.

IGNI L GM IALRM. EA SR . E S

458 537 m22

parking -2plazas

bath 3 baños

36 bed dorm.

36 bath baños

Nueva Milla Puerto Banusde Oro

Marbella East Nueva Andalucía

1.350.000 € 1.500.000

900.000 €€ 1.450.000

PENTHOUSE - DUPLEX DUPLEX PENTHOUSE Spectacular - duplex situated sea front.

South Contemporarypenthouse Duplex Penthouse in PuertoonBanús, Marbella, facing orientation and fabulous views over the swimming with absolutely enviable front line views to marina. This pools, tropical gardens and the Sea. With Duplex Penthouse has been builtMediterranean in the best qualities and full in a contemporary styleand withJacuzzi Swiss area. qualities. terrace, barbecue

190 m2 185

Ref. web: 95245 94557

bed 3 dorm.

bath 3 baños

APARTMENT Magnificent refurbished Ancon Sierra, Milla de Luxury apartment walkingapartment distance tointhe beach in Puerto 2 garden, parking space and storage Oro. With terrace, 70m Banús, Marbella. The style is contemporary and the finishings room.

Quiet quality. urbanization with 24hr security and communal are of great This ample apartment is close to all services and facilities. swimming pool.

700.000 € 595.000

246 m2 184

Ref. web: 90198 93887

3 dorm. bed

3 baños bath

PENTHOUSE DETACHED VILLA Wonderful penthouse in aatluxurious urbanization next to Nice villa with sea views 100 meters from the beach, located Puerto Banus.

Tropical gardens, swimming pools, in the exclusive area Los Monteros. Close to several24hr golf security Only to a few minutesofaway from the courses and alarge few terraces. minutes’ drive the center Marbella. commercial area, leisure, restaurants, and other amenities.

300 191 m2

plaza 1 parking

Milla de Oro Puerto Banús

34 parking plazas

Ref. web: 81685 83737

32 dorm. bed

plaza 1 parking

3 baños bath

211 m2 230

3 bed dorm.

3 bath baños

12 parking plazas

Cancelada Marbella Center

APARTMENT Large apartment with excellent qualities and only Luxuryrefurbished apartment with spectacular sea views of 230 sqm with 100 meters from the sea front.

Includes a terrace, garage three bedrooms and 3 bathrooms in exclusive beachfront and storage room.inThe building a concierge service and development New Goldenhas Mile. tennis court.

945.000 630.000 €

289 229 m2

94415 Ref. web: 88351

dorm.

4 bed

baños 25 bath

plazas 12 parking

Río Real Mile Golden

Guadalmina Baja

Luxury Marbella East. 5de minutes from thewith beach Duplex apartment penthouseinlocated in Lomas Marbella Club and city. Perfect south facing. Very good quality, fantastic views tocondition, the sea and mountains.

Quiet residential area large a fewcommunal minutes from Marbella centre or Puerto Banus.pool with gardens, exterior heated swimming and 24hr video surveillance.

Penthouse to the beachMarbella in Guadalmina withgolf views Townhousenext in Guadalmina, front line andover the seatoand Located at 100has meters from the close the gardens. beach. The gatedonly complex beautiful mature gardens withbeach a community pool and paddle Guadalmina and its famous golffour course andcourts. beach club which is open all year.

455.000 € 580.000

380.000 € 483.000

APARTMENT DUPLEX PENTHOUSE

106 m2 167

21 plazas parking

PENTHOUSE - DUPLEX SEMI - DETACHED

Ref. web: 93381 93217

2 bed dorm.

2 bath baños

12 parking plazas

351mm2 2 62

50508 Ref. web: 96710

dorm.

14 bed

baños 15 bath

plazas 12 parking

Sotogrande

Estepona Golf Golden Mile

APARTMENT TOWN HOUSE

APARTMENT

Beautiful apartment in Sotogrande Port. Luxurious front line New townhouse of 245 sqm with 3 bedrooms, 3 bathrooms, terracecomplex with fantastic viewswith overgolf the 1urbanization.

WC located Large in exclusive surrounded courses; offering modern architecture designed Marina. With parking space and storage room. by Rafael de La Hoz with stunning sea Gibraltar and African Coast views.

Situated in a spectacular Mediterranean setting with crystal Spacious apartment in a beautiful complex located in onea of the water lagoon ...an aquatic sports paradise. quality and best areas of Marbella, the Golden Mile, closeHigh to amenities only 5 minutes’ from the centerterraces of Marbella anda Puerto interior design drive and large exterior within luxurious Banús.

Mint condition, 24 h security. environment.

Beautiful with magnificent views over the Santa Semi-newapartment 4 bedrooms townhouse with impressive and open views to theClub seaand andsea.

Gibraltar, located in Bahía de las Rocas Maria Golf Located in a closed urbanization closegardens to Pierreand & Vacances apartments and only 10 with swimmingHoliday pools. Perfect condition. minutes away from Sotogrande.

400.000 € 265.000

201.000 €€ 390.000

320.000 € 136.400

Ref. web: 95052 85743

Para Formás moreinformación: information: to Gilmar.es the weblareference in theweb en el EntreGoen Gilmar.esande enter introduzca referencia search yand you will have detailed information the inmueble. estate. buscador obtendrá información detalladaondel

Manilva Elviria TOWN HOUSE APARTMENT

93041 Ref. web: 87097

Ref. web: 93540 93689

ESTEPONA

PUERTO BANÚS

MARBELLA

Avda. de España, 190 estepona@gilmar.es

Plz. Antonio Banderas, 6 banus@gilmar.es banus@gilmar.es

Avda. Ricardo Soriano, 56 marbella@gilmar.es marbella@gilmar.es

952 80 85 70

952 866 800

952 861 86 13341 41

While try to ensure that prices here published are accurate at all times, can not responsible errors responsables or any other that may appear on the site. the published price a homeaparecer is incorrect INMOBILIARIO is only responsible the price you Si bienwe intentamos asegurarnos queshown los precios que aparecen aquí publicados seanwe exactos enbe todo momento,for notypographical podemos hacernos de errores tipográficos o de Ifcualquier otro tipo queofpuedan en CONSULTING el sitio. Si el precio publicado GILMAR de una vivienda es incorrectoforGILMAR have signed with ownership ofsólo thees property in the del corresponding salesfirmado order, which will try to at the of recognition of the error.

Prices que mayprocuraremos be subject to change CONSULTING INMOBILIARIO responsable precio que tiene con lawe propiedad delconvey inmueble entime el correspondiente encargo de venta, hacerle without llegar ennotice. el momento del reconocimiento de dicho error. Los precios pueden estar sujetos a cambios sin previo aviso.

New Aloes Gibraltar

WORLD CLASS LUXURY IN THE MEDITERRANEAN

Stunning Views from Dusk till dawn New Alones is a world class award-winning contemporary home that showcases breath-taking views over the Strait of Gibraltar towards Spain and deep into the Rif Mountains of Africa.

Built on the site of a former Ministry of Defence building of the same name, New Aloes is a substantial 21st century home of 9,526ft² with 4,402ft² of terraces and 6,243ft² of garden.

This bespoke designed mansion has 7 bedrooms, 6 bathrooms, premium quality kitchen and bathrooms, garage park-

info@sunsearchhomesinternational.com

952 880 844

ing for 10 cars, pool spa and a Jacuzzi set amidst verdant landscaped gardens.

Superb Interior Design New Aloes has been designed to maximize the stunning views from all the living areas. The spacious kitchen with vistas towards Spain and Morocco is dominated by the 7 metre all in one Krion preparation-dining island. Clever use of space means that the 1237 square feet living room is divided by a smokeless, odourless bioethanol fire sunk into a black granite hearth.

New Aloes offers luxury, privacy and endless space

The raised dining area has a beautiful English oak floor while the living area is Travertine marble with underfloor heating. A quiet library/study zone is separated from the living area by sliding glass panels.

The seven bedrooms are distributed throughout the house to ensure privacy, while the master suite has panoramic views, a private terrace, a rotating super king bed, walk in wardrobe and an open wet room.

Outside Living With 5381 square feet of landscaped gardens and 4402 square feet of terraces on various levels and with different orienta-

info@sunsearchhomesinternational.com

952 880 844

tions, New Aloes provides an opportunity to enjoy the wonderful climate of Gibraltar from dawn to dusk.

A black river stone waterfall flows through the garden towards a thatched Tahiti style chill out bar. Below is a circular 2 level pool with Jacuzzi effect jets. This pool connects via a shallow stream to the main infinity edge heated swimming pool. A spa terrace on the 2nd floor has a heated spa pool containing sculptured mosaic beds facing perfectly south west for the African sunsets. A stainless steel channel sends a cascade of water tumbling into the pool below.

Price ÂŁ10.9 million (GBP)

SOHER

®

6 - WEEKEND WORLD PROPERTY SUPPLEMENT

SOHER

®

“Soher combines the latest decorative trends and luxurious furniture with the most traditional designs, allowing it to reach perfection”

Alexanders’ Collection Spain Luxury Home Opening hours: Monday-Saturday 11:00 - 20:00 Ctra. n-340, Km 176, Edif OASIS Business Center, Local 1, 29600 Marbella, (Malaga), España T. +34 952 82 34 40 | ac.spain@yahoo.es | www.ac-spain.es

Issue 19 MAY 12 - 25, 2016

www.js-sotogrande.com

Valderrama, Sotogrande Alto TOWNHOUSE 4 bedrooms 4 bathrooms 593m2 built e1,575,000

This beautiful townhouse is located in the prestigious Los Patios de Valderrama community next to the Real Valderrama course. The property is spacious with generous size rooms and with an indoor patio which brings a lot of light into the house. On the garden level is a very large living area, kitchen and en-suite bedroom. Above there is the large master suite and further en-suite bedroom.

On the lower floor there is a formal dining room with adjoining kitchen, en-suite bedroom and laundry/utility room. There are various outdoor areas; central courtyard on the garden level, very private terrace and garden and finally a very pleasant further courtyard on the lower level with a great covered chill out/outdoor dining area. Air conditioning throughout and garage.

James Stewart in association with Savills C/ Sierra Bermeja, s/n, Ed. Ayala 1, Pueblo Nuevo de Guadiaro, 11311 - Sotogrande, Cádiz T +34 956 795 300 M +34 628 574 953 info@js-sotogrande.com www.js-sotogrande.com

GAUCIN FINCA 5 bedrooms 5 bathrooms 942m2 built 27 hectares of land e1,850,000

A unique opportunity to acquire a truly spectacular charming estate situated in the most beautiful location at the crest of the Jimena Valley. The Cortijo is world famous, having been for many years a private hotel, which featured in the top 101 Leading Hotels of the World. The estate also comprises a full size tennis court (impossible to get building permission for now) landscaped gardens and a secluded swimming pool. A secluded retreat, afforded by a rural location with stunning uninterrupted views stretching to Gibraltar and as far as North Africa’s Rif mountains. Situated only a five minute drive to the old town of Gaucín, with all its amenities.

Impressive entrance hall with 2 guest cloakrooms, Fine Reception Room, Dining Room, Covered Terraces for Summer Dining, Fully Fitted kitchen especially designed for professional use, Sweeping cantilevered staircase to: Master Bedroom Suite with Sitting Room, Dressing Area & Bathroom, 4 Further Bedroom Suites, Under Floor Heating in all Bathrooms, Full size Billiard Room, Bodega, Office, Storage, Laundry Room, Lock Up Garage for 2 Cars, Cold Store, Mains Electricy & Water Supply

www.js-sotogrande.com

Valgrande, Sotogrande Alto duplex penthouse 4 bedroom 4 bathroom 321m2 built 155m2 terrace e950,000

Excellent duplex penthouse in the popular Valgrande gated community in Sotogrande Alto. This apartment consists of a large living/dining room, kitchen with utility area, 4 en-suite bedrooms (2 on each floor), guest cloakroom and storeroom. The highlight is the wonderful sunny terraces on both floors with automated wind sensative awnings and plenty of space for entertaining. There is a piped music system installed. Access is via an elevator straight into the main floor from the underground car park or pedestrian level. Included in the price are 2 parking spaces and a large lockup store in the communal area. Valgrande has 24h security, external swimming pools, gym, Spa with interior lap pool, lovely communal gardens and putting green.

James Stewart in association with Savills C/ Sierra Bermeja, s/n, Ed. Ayala 1, Pueblo Nuevo de Guadiaro, 11311 - Sotogrande, CĂĄdiz T +34 956 795 300 M +34 628 574 953 info@js-sotogrande.com www.js-sotogrande.com

Sotogrande Costa VILLA 6 bedroom 7 bathroom 1179m2 built 3003 m2 plot e3,450,000

Superbly finished modern style villa on a quiet cul-de-sac in Sotogrande Costa. Entrance is via a double height entrance hall leading through to a spacious lounge with vaulted ceiling. A semi open plan hallway divided into dining room and TV snug with fireplace leads you to a very large family kitchen. On this floor there are also 3 en-suite bedrooms all with French windows. On the first floor is the master suite with private balcony overlooking the gardens and another en-suite bedroom.

Further above is a large loft room with cloakroom which could be a further bedroom, study, child´s playroom, teenager lounge etc. In the semi-basement there is a great cinema room, large gym area, laundry room, large double room with separate exterior access, interior lap pool with Jacuzzi which gets plenty of natural light and double garage. All floors are connected via private elevator. The excellent outdoor entertaining areas include a lovely covered terrace with retracting glass curtains, a garden casita with full kitchen and dining area and Mediterranean garden with waterfall created from the infinity edge of the pool above.

Haute craftsmanship for those with an appetite for extreme luxury.

LUXURY SAFES HYPER LUXURY

LUXURY SAFE

MILLIONAIRE GOLD W W W. L U X U R Y S A F E S . M E

Issue 19 MAY 12 - May 25, 2016

WEEKEND WORLD PROPERTY SUPPLEMENT - 11

9 TIMELESS VILLAS T H E M O S T LU X U R I O U S P RO J E C T O N I B I Z A

For a full brochure visit: www.globalluxuriousproperties.com / www.capblancibiza.com

GLOBAL LUXURIOUS PROPERTIES team of professional estate consultants

T: +31 (0)-15-2630195 info@globalluxuriousproperties.com www.globalluxuriousproperties.com

d e v e l o p m e n t www.capblancibiza.com

T. +31 (0)20 471 57 83 info@minerva.nl www.minerva.nl

Jamena Construccioness turns your ideas and projects into reality

The quality of our building work, professional ethics, dedication and commitment to the clients and, of course, the enthusiasm that we bring to every new project are the core value of our company.

As a result of the latest technologies, innovative architecture allows us to complete every project with functionality and energy-efficiency, giving our clients the maximum comfort.

Our team is the most valuable asset of the company, consisting of more than 50 full-time professionals and a consolidated group of subcontractors and suppliers that allows to complete all our projects with the guarantee of the highest standards of execution.

Over 30 years of continued business ensure the fulfilment of all the contracts on time and on previously agreed budget.

C/ Guadalmansa, 1. Cancelada. Estepona (Mรกlaga) TEL +34 952 888 445 FAX +34 952 888 446 www.jamena.com

195.000 €

Your EXPERT for NEW DEVELOPMENTS

on The Costa del Sol GENERATING BUSINESS - ADMINISTRATION - AFTER-SALES SERVICE INVESTMENT- PROJECT EVALUATION - PROJECT MANAGEMENT- MARKETING

La Alzambra Hill Club

Built 206 m2 | Terrace 178 m2 3 bedrooms | 3 bathrooms | 1 toilet Location: La Alzambra Hill Club Price 1,475,000 euros Spectacular apartment within a gated luxury residential complex with a private swimming pool on the terrace REF: 263-00463P

info@drumelia.com | www.drumelia.com | +34 952 766 950

18 - WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 19 MAY 12 - 25, 2016

PRINCE’S SPANISH HOME FOR SALE

In 1998 Prince bought this stunning villa in Spain as a gift to his new wife Mayte Garcia. Nestled west of Marbella in the hills of El Paraiso with views of the sea, mountains, valley and golf course. The couple decorated it elaborately in pure Prince style. Mayte and Prince sadly divorced in 1999 and sold the villa. The new owner redecorated to tone it down to more universally preferred elegance and has now put it on the market.

Sited on 1.45 subtropical walled and landscaped acres, the 7,535-square-foot villa also has 2,583 square feet of terraces for outdoor living with tennis court, pool and three-car garage with additional parking for six. The landscape is softly lit at night affording ambiance for outdoor entertaining. Inside are six bedroom suites including two masters with the grand master encompassing two levels. Public rooms are opulent with good flow, a new

fully equipped kitchen has been reconstructed and the entire villa has been updated with the finest materials. It is said that this home and its romantic location was the inspiration for many of Prince’s songs. Evert Ebus of Engel & Volkers is the listing agent for Prince’s former Spanish villa, now priced at approximately 5,250,000 EUR. For more information visit: www.engelvoelkers.com

Closer to you

You can relax when Ibex has got your home covered Underwritten at Lloyd’s of London

• Tailor made home insurance policies • All risk cover for specified items •

Optional cover for valuables outside the home Pop into our office at Benavista, Estepona or give us a call and we will come to visit you near to your home or place of work to discuss your insurance needs.

Estepona

Sam, Fi & Donna

952 887 125

weekendworld@ibexinsure.com C.C. Benavista, Local 3 Ctra. de Cádiz Km167 29688 Estepona

Ibex Insurance Services Ltd 2015. Ibex Insurance Services Ltd, 68 Irish Town, Gibraltar. Registered no. 77247.

Authorised and regulated by the Financial Services Commission FSC 006 43B

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Another issue is new regulations that come into effect this month in Andalucía, an area popular with overseas buyers that restrict the previously ‘free’ market in tourism rentals to those that meet the registration requirements and have registered.

The report suggests this is likely to have an increasing restraint on demand.

‘Many buyers anticipate occasional rentals covering the fixed annual running costs of the property with many assuming that they will be able to avoid taxes on that income. That is going to be a much more high risk option as the authorities monitor all management companies and internet and other advertising.

The true costs of ownership will become clearer and this may reduce demand,’ the report says.

‘In addition, meeting the requirements of the regulations could be costly and appear superfluous in properties that currently meet the requirements of most tourism occupiers. However, properties already meeting these requirements and being registered with the authorities are likely to have an increased value. If the property does meet the requirements, it is probably to the owner’s advantage to have it registered in any case, whether they intend to offer it as tourist accommodation or not,’ it adds.

Demand for Spanish property facing a number of issues in the coming months

D

emand for property on the Spanish Costas has increased from expats who are benefitting from good mortgage rates and there is a rise in construction activity with a number of new developments being started, according to a new report.

The property market could also be affected by decisions made

by Spanish banks who still own a lot of properties due to the economic downturn. The Spanish banks are obliged to update their valuation of assets practice to include regular annual or bi-annual valuations of each individual asset.

It also explains that there are a number of other factors likely to affect the real estate market in the coming months including currency rates, the Spanish election and in Andalucía new rules regarding holiday lets.

The report explains that this has seen Sareb, the Spanish bank rescue bank, announce a write down of their portfolio by more than €2 billion in addition to a €968 million write down in the past two years.

Expat demand is coming from the UK, Scandinavia, and Germany with other northern Europeans also active in the market, says the report from the Survey Spain network of chartered surveyors covering the first quarter of 2016.

‘It may be that many private banks will have to do the same, which may result in them lowering the asking price for properties they are trying to sell, thus reducing the market level as a whole. The reduction of asset values also could reduce the banks’ ability to offer mortgages. It could lead to a downward spiral again,’ the report adds.

However, there is likely to be an increased nervousness in the market as the British referendum approaches on 23 June because of fears that the poll will support the UK leaving the European Union.

The threat of a Brexit and currency exchange rates are just a couple of major issues that could affect the Spanish property market. The report says that doubt about the referendum result and it’s after effects are causing UK buyers and sellers to hesitate.

In addition, the fall in the value of sterling, from the €1.40’s to €1.20’s in the last three months has made the relative costs of property in Spain much more expensive for UK buyers but of course better for those wanting to move back to the UK. ‘However, the latter will be concerned that there is more reduction in value to come and so may decide to hold onto euro asset until closer to the referendum in the UK on 23 June,’ the report says. It refers to a recent letter received from a client which says they are concerned that if the UK leaves the EU then property prices in Spain may fall considerably.

There are also risks associated with a change of Government in Spain. The firm has found that more than one client has stated that they will sell and move if a left wing Government should be elected. ‘Again, the uncertainty could be causing buyers and sellers to pause until there is a result, which could be before the end of May or, with a new election, at whenever a new Government is established after the end of June,’ the report points out.

Demand and supply is also likely to affect the housing market.

‘There has been a widely reported analysis of Spanish home demand over the next 10 years that anticipates a substantial amount having to be built to meet that. However, as it was prepared on behalf of a construction consortium, this is looked upon with some scepticism as there is still a substantial amount of property available for sale in all sectors of the market,’ the report says.

‘Prime locations are seeing some scarcity with prices definitely hardening and increasing.

However, the prices for resale properties have not shown any significant increase overall, with any reduction in supply due to sales being countered by additional properties coming on the market due to the perceived activity. There are still significant discounts being offered to achieve sales,’ it explains.

‘Some of the demand is coming from speculative purchasers, acquiring properties with the intention of remodelling and renovating and then selling on. Thus the property is not really removed from the market, merely moved up a level,’ it points out.

‘However, the costs of acquisition and sale are still high and these are increased for the seller by the legal requirement for an energy certificate and a topographical survey to provide an accurate description and plan in the title and catastral,’ it adds.

Meanwhile, the latest figures from Survey Spain show that values in the first quarter of 2016 were lower than previously, but that is probably just the result of the size of the database. The highest is a villa in Marbella valued at €6,781 per square meter while the average is €1,730 and the lowest a derelict and vandalised villa at €703.

The report looks at the differences between valuations, asking prices and buying prices. In the third quarter of 2014 the difference between asking prices and actual prices paid was 15.8%. This fell to 11.4% in the fourth quarter of 2014, rose again in the first quarter of 2015 to 18.64%, was down to 10.73% in the second quarter, to 8.72% in the third quarter and has gone up again to 9.38% in the final quarter of 2015 and 11.68% in the first quarter of 2016.

The difference between the firm’s valuations and asking prices has also varied. It was 20.65% in the third quarter of 2014, 19.43% in the fourth quarter of 2014, 16.55% in the first quarter of 2015, 17.09% in the second quarter, 14.26% in the third quarter, 22.64% in the fourth quarter and 21.53% in the first quarter of 2016.

‘Over all the quarters our valuations average 96.14% of the known actual buying prices, which is a better statistic to be considering. Unfortunately, due to the difficulty of obtaining information, the number of accurate buying prices we can obtain is relatively low,’ the report says.

‘We are of the opinion that the above records showing the difference between asking prices and buying prices and valuations are the most significant information for buyers. However, as agents and sellers become more bullish, with the number of transactions reported to be increasing, we are finding the asking prices of a number of properties are being increased,’ it points out.

‘This permits the seller to offer a similar % discount as before, but to obtain a higher price, and may account for the slight increase in percentage between asking prices and actual buying prices,’ it adds.

Article provided courtesy of www.propertywire.com

Issue 19 MAY 12 - May 25, 2016

WEEKEND WORLD PROPERTY SUPPLEMENT - 21

Ref: 1386

3 Bedroom Apartment Casares Costa • 3 BEDROOMS • 3 BATHROOMS

LA PERLA DE LA BAHIA, CASARES COSTA Magnificent frontline beach top floor duplex apartment located on the prestigious complex of La Perla de la Bahia, Casares. A luxurious urbanization in a Moorish design with substantial tropical gardens, fountains and pools. Built to a high quality the property affords lovely views of the beach and sea. The complex is completely private, with good security, video door entry and direct access to the blue flag beach.

• 170m2 BUILT • 170m2 PLOT

390,000€

Ref: 1352

2 Bedroom Apartment Duquesa • 2 BEDROOMS • 2 BATHROOMS

LAS BUGANVILLAS, LOS HIDALGOS, DUQUESA A superb top floor apartment with a huge roof terrace enjoying panoramic sea views, ideally situated close to the marina and golf of La Duquesa.

Good access to the beach and nearby shops and restaurants the property is bright and spacious, beautifully presented with a high quality finish and includes an underground parking space and storeroom. Viewing recommended.

• 75m2 BUILT • 136m2 PLOT

170,000€

For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com

22 - WEEKEND WORLD PROPERTY SUPPLEMENT

Issue 19 MAY 12 - 25, 2016

Ref: 1555

Ground Floor Duplex Casares Costa • 3 BEDROOMS • 3 BATHROOMS • 120m2 BUILT

EL DIAMENTE, CASARES COSTA Fabulous ground floor duplex apartment located on a front line beach urbanisation at Casares, with good access to main coast road and villages of Sabinillas, Estepona and the nearby golf and marina complex at La Duquesa. The property is in excellent condition and reading to move into. This would make a lovely residence or holiday home with huge rental potential. Viewing is highly recommended.

• 180m2 PLOT

235,000€

Ref: 1301

2 Bedroom Penthouse Duquesa • 2 DOUBLE BEDROOMS

DUQUESA FAIRWAYS, DUQUESA GOLF Superb penthouse apartment located on the frontline of Duquesa golf course, enjoying panoramic views from spacious sunny terraces. The apartment is beautifully presented having been tastefully adapted to a more contemporary design including a fabulous loft sitting room, fully fiitted kitchen and dining room and a large top floor sun terrace ideal for entertaining and al fresco living. The property has a private underground parking space and storeroom. This apartment is in immaculate condition with many additional features and makes an ideal permanent or holiday home with rental potential.

• 2 BATHROOMS • 155m2 BUILT • 205m2 PLOT

185,000€

For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com

Issue 19 MAY 12 - May 25, 2016

WEEKEND WORLD PROPERTY SUPPLEMENT - 23

Ref: 1536

3 Bedroom Townhouse Duquesa • 3 BEDROOMS • 3 BATHROOMS

EL MIRADOR, DUQUESA GOLF Beautifully presented 3 bedroom townhouse located on a small, tranquil urbanisation overlooking La Duquesa Golf and enjoying panoramic views of the course and to the sea. The picturesque port of La Duquesa and traditional fishing village of Sabinillas is a short walk away. Excellent access to Marbella/Puerto Banus and Gibraltar all reached in under 1/2 hour and Malaga Airport in an hour. The house has a small garden to the front and a private parking space. A fine property in a lovely location, in fantastic condition and tastefully furnished. Ideal for holidays or as a permanent residence and viewing is recommended.

• 107m2 BUILT • 205m2 PLOT

225,000€

Ref: 1506

4 Bedroom Villa Casares Costa • 4 BEDROOMS • 4 BATHROOMS

BAHIA DE CASARES, CASARES COSTA A stunning 4-bedroom luxury villa located in an elevated position on the Casares Costa between Estepona and Sabinillas. A short drive to local shops, restaurants, supermarkets and 2 minute walking distance to the blue flag beaches. Close proximity to the prestigious Finca Cortesin Golf course and Dona Julia. This villa was designed in a classic Andalucian style by the renowned local architect Aubrey David and has spectacular elevated sea views.

A truly magnificent home, viewing highly recommended.

• 245m2 BUILT • 2058m2 PLOT

695,000€

For more information contact: natasha@castlesestateagency.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com

SIMA 2016 ends with 5% increase in visitors

The 18th Edition of the Salón Inmobiliario de Madrid (SIMA) closed its doors last weekend after four days in which it noted the return of buyers’ confidence together with greater real estate activity, while at the same time registering an increase in visitors of around 5% and the re-appearance of the younger audience aged between 25 and 35 years old, who are looking for their first home in Spain.

Although the final data for this latest SIMA real estate exhibition has not yet been posted, the director of the Salón, Eloy Bohúa, said in a press statement that the 5% increase in visitors is “in line with expectations”, in an event that clearly demonstrated the quality of the visiting public and the interest in purchasing they have shown to the over 200 exhibitors at the show. The number of exhibitors this past weekend increased by 25% over the previous edition, and the exhibition floor space increased by more than 30%.

Said one exhibitor, “In the last two years, SIMA has achieved spectacular results and sales, and this year we exceeded expectations, thanks to the influx of quality visitors which has allowed us to close a large number of reservations.” A similar view was shared by another exhibitor who said that this year visitors know this is a good time to invest and that they have come to the fair with clear budgets and also with a realistic view of the current market situation.

There was a great demand shown by visitors to the fair, for new and second hand housing in Madrid, either as a first home or a replacement home, and after several years in a sort of temporary limbo, tourist housing was once again attracting the attention of visitors to the fair with great opportunities to acquire coastal properties as rental investments.

Article provided courtesy of www.news.kyero.com

The pleasure of a good night’s sleep

Commercial Centre San Pedro, Nuevo Poligono Industrial San Pedro, Carretera de Ronda, Calle Eslovaquia, 30 - Nave 15, E-29670 San Pedro de Alcantara (Marbella), Spain +34 952 787 916 | +34 675 084 580 info@emporiobeds.com

FREE

duvet or pillows when you purchase

ANY

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BLUEPORT ALTEA TIMELESS VILLAS TAILORED TO YOUR WISHES

The prestigious Altea Hills Estate Group launches the most luxurious exclusive residential villa complex on the Costa Blanca.

Apply for a full brochure: www.globalluxuriousproperties.com www.blueportaltea.com Contact Agent: Global Luxurious Properties Team of Professional Real Estate Consultants Phone: 0031-(0)15-2630195 Email: info@globalluxuriousproperties.com Website: www.globalluxuriousproperties.com

Exceptional Properties Exclusive Locations

SPAIN’S LEADING LUXURY INDEPENDENT REAL ESTATE AGENCY

MARBELLA OFFICE:

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BARCELONA · COSTA BRAVA · GIRONA · IBIZA · MADRID · MALLORCA · MARBELLA · MARESME COAST · SITGES · VALENCIA · ANDORRA · PORTUGAL

Kensington FINANCIAL SOLUTIONS

For all your financial needs Kensington Financial Solutions are agents for one of the finest, regulated, licensed and authorised brokers in Spain. As one of only five brokers in the whole of Spain to have been chosen by banks such as Banco Santander for a preferred working relationship and are able to offer; special conditions, preferential rates and fast decisions.

Our mortgage products include:

! n o t g n i s hT ink Ken gton! n i s n e K l Cal

• Second Home Mortgages

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WE DEMAND NO UP FRONT FEES!

Kensington are also official agents to one of the finest insurance brokers all of whose products are underwritten by Lloyds.

Let Kensington quote you for the following insurance products:

• Home Insurance

• Boat Insurance

• Car Insurance

• Pet Insurance

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Fast and efficient we cater for real estate agents, businesses and the general public

Contact us now for your no obligation quote info@kensingtonfinancialsolutions.org

www.kensingtonfinancialsolutions.org

• Built: 622 m2 • Plot:

• Domotics

1.625 m

2

• Wine cellar

• Beds: 5

• Energy Efficient House

• Baths: 5-1/2

• 2 car garage

• Infinity pool with pre-installation for heating • Golf and mountain views • Golf buggy garage with direct access to golf course • Price: 2.985.000 euros

For more information contact: James Laderman

info@sunsearchhomesinternational.com

952 880 844

Rob Trade Simply Beautiful Furnishings

Embodying unique style, ROB TRADE offers unique reproduction furniture reflecting the inimitable Old World glamour of Louis XV and Louis XVI design. Thoughtfully restored one-of-a-kind arm chairs, side chairs, settees and tables boast decorative carvings, gilding and authentic finishes with stunningly elegant upholstery. Traditional caning, button tufting and glass beading capture the essence of classic French and European style.

PIECES DIRECT FROM FACTORY SALE TO WHOLESALERS AND INDIVIDUALS AT UNBEATABLE PRICES Tel: 644 525 911 e-mail: robtrademarbella@gmail.com www.robtrade.weebly.com Opening Times: Monday-Friday 10am-2pm & 4pm-7pm Saturday & Sunday 10am-2pm Private viewings available upon request

Our 1000ft showroom is located just off the main road between Marbella Estepona.

Take the Hospiten exit, km 161.

Then continue along the slip road parallel to the main road, for 400m and you will find us on your right

A GREATER SENSE OF WARMTH Lladró’s Belle de Nuit collection is a new line of ceiling, tabletop and wall lamps made in porcelain and come in various formats and colours in tune with happening trends in interiors and home décor.

The concept for this new collection is based on the classic crystal chandelier, updating it not only in terms of the material used, but also changing the expressive language.

The sensation Lladró lamps transmit in comparison with those made in other materials is the greater sense of warmth.

The most striking feature of the Belle de Nuit collection is the application of the original Lladró palette of colours.

Available at Alexanders’ Collection Spain

www.ac-spain.es

Light Gauge Steel Specialists

M

J Lancley SL are one of Spain’s and Gibraltar’s leading Light Gauge Steel Specialists. We design , manufacture and construct your new property from light gauge steel saving considerable time and money.

MJL will complete the rest of the build in tried and tested modern materials to achieve the look you desire whether it is ultra modern or a more traditional design.

We have been constructing from Light gauge Steel in Gibraltar for the last 7 years building schools, hotels and apartments.

Light Gauge Steel is used widely in the UK as its speed of construction heavily outweighs traditional methods thus saving labour costs. It is a relatively modern system that works well with the latest materials in terms of insulating properties, it has a 100% strength-to-weight ratio, it is non-combustible, it does not burn and will not contribute fuel to the spread of fire, It is Inorganic - it will not rot, warp, split or crack, it will not contract or expand with moisture.

MJ Lancley are heavily involved in Spain’s first Light Gauge Steel Villa and we are already in the process of designing and manufacturing 2 homes in the coming months.

If you would like a consultation to see how much money and time you could save on your build please get in touch.

00350 20064323 • info@mjlancleyltd.com • www.mjlancleyltd.com