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PROPERTY FORTNIGHTLY SUPPLEMENT
WEEKEND WORLD PROPERTY SUPPLEMENT
Issue 29 February 16 - March 01, 2017
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.
Noll & Partners with Stephanie Noll and Charles Gubbins, professionals who care! One of the largests portfolios in Sotogrande - solid experience and knowledge of the real estate market
Because of the Lifestyle
Quality Apartment Sotogrande Sotogrande Marina
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Issue 29 February 16 - March 01, 2017
WEEKEND WORLD PROPERTY SUPPLEMENT
HomeSt yle Interiors
Since the opening the company has continuously offered its clients the latest trends and attractive new designs in furniture and fabrics - mostly from Italy and always in a wide choice of colours and shapes. HomeStyle Interiors is based in welcoming and inspirational modern showroom – across two levels and over 850 square metres – located in San Pedro De Alcantara Marbella . Here customers find an exclusive selection of products by well-known Italian brands such as Antonello Italia, Miniforms, Alta corte, Santa Lucia Mobili, Veneran, Roberto Cavali, Cattelan Italia, Lass, Milano bedding and much more. HomeStyle Interiors offers inspiring collections of furniture and home accessories that combine striking materials - hard woods, luxurious leathers, cool metals and polished glass - with designs that are both contemporary and perennial. The collection consists of a vast assortment of furniture such as sofas, all kinds of chair, dining tables, beds, rugs and lighting and soft furnishing. While quality, design and customer service are all fundamental to the company philosophy, refreshingly are often considerably more easily affordable than you may have thought. With impeccable credentials, the Homestyle interiors staff has extensive knowledge and experience in all facets of the furniture industry – interior design, retail, wholesale and manufacturing – on the Spanish coasts and around the world.The company is also involved in the contract business and provides a wide range of its products to clients such as hotels, cafeterias, restaurants and executive offices for the furnishing of their premises. The company’s competitive advantage is based on a sterling reputation of highly professional service and assistance and the level of personal contact it has with clients to best ensure that their furnishing needs are anticipated and met. The philosophy of the company is to provide individual clients with furnishings that are specific to their unique requirements and tastes, and to provide solutions best-suited to their lifestyle and interiors. At HomeStyle Interiors you will always find the finest of high quality Italian furniture for the creation of a home that is truly something special.
“From Inspiration to Installation”
HomeSt yle Interiors
Pol. Ind. San Pedro de Alcantara, Calle Fco. Moreno Lomena nยบ 4, 29670, Marbella, Malaga Tel: 952 786 631 www.homestyleinteriors2012.com
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SELLING Holmes Sotogrande believes in the strength of teamwork. Holmes Sotogrande has the team with the best reputation for results. We are always looking for new listings. Call now for a free valuation and to hear how the Holmes team can help you best sell your home.
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Fabulous villa / soToGRaNDE alTo
sTuNNiNG viEws / soToGRaNDE alTo
Plot: 2.999m² Built: 780 m² 1.950.000e Ref. HSN5-1124
PENTHousE / RibERa DEl DElFÍN 2
Built: 125m Terrace: 41m² 2
luxuRy aPaRTmENT 4
Plot: 2.000m² Built: 466 m² 1.195.000e Ref. HSN3-1036
sEa viEws / PuERTo soToGRaNDE 425.000e Ref. DEL-1573
/ soToGRaNDE maRiNa
Built: 219m² Terrace: 155m2
850.000e Ref. RIO-1390
Built: 92m2 Terrace: 9m²
275.000e Ref. PSB-1579
TowNHousE / soToGRaNDE alTo 4
Plot: 272m² Built: 164m2
340.000e Ref. THL-646
WEEKEND WORLD PROPERTY SUPPLEMENT
Issue 29 February 16 - March 01, 2017
Foreign buyers pushing up sales
in coastal areas of Spain, new research suggests New data from the Spanish registrars suggests that Almeria on the south east coast of Spain is the country’s new property hotspot for British buyers as sales to all foreigners increase.
n analysis of the sales figures by Spanish real estate portal Kyero along with its own research shows it is racing ahead of other regions when it comes to sales.
According to the firm’s head of research Richard Speigal British buyers are increasingly focused on value for money since the vote to leave the European Union and Almeria offers what they are looking for. On a quarterly basis, property sales in Almeria are up by 93% when compared with the third quarter of 2015, according to the registrars’ figures. With the rest of Spain growing modestly, Almeria stands out as enjoying a significant boom. Almeria is in Andalusia on Spain’s Mediterranean coastline and while other locations popular with British buyers and expats were focussed on high rise developments in the late 1960s, to cram in as many tourists as possible, Almeria remained largely untouched. Speigal believes that it means that those looking for a more authentic Spain can find property in the coastal towns of Almeria with a charm that their more developed neighbours have lost for good. ‘Almeria offers exceptional value for money. Property here costs a fraction of what it does in the neighbouring Costas. Our coastal towns remain full of charm and character and just a 15 minute drive away
you can find yourself in wonderful countryside. This lifestyle is sought by a new influx of foreign buyers including French, Dutch and Germans,’ said Sharon Garner, sales director for Almeria based Spanish Property Choice. She explained that despite Brexit there is still as steady flow of British buyers searching for a Spanish lifestyle. ‘We’ve seen a sharp rise in sales and long term lets, both of which have superseded our expectations for the year,’ she added.
moving overseas to raise a family has never been stronger,’ he said. By way of comparison, the average property in Alicante costs €210,000, while the average home in Malaga costs €295,000. The growth in sales is reflected overall in the Spanish market with the register figures showing that transactions recorded in September were up 12% compared to the same month in 2015. Sales have now grown almost every month since March 2014.
Spanish Property Choice, which has had to expand its staff team twice already during 2016 to cope with increased buyer demand, says buyers are 45 to 60 years old and looking for a second home in the sunshine, with early retirees joined by those looking to bring up their family in a safe, healthy environment.
Sales were down in some of the Costas which buyers in Almeria might be trying to avoid. Transactions were down in Malaga, home to the Costa del Sol, which probably reflects a decline in British demand below average in Alicante on the Costa Blanca, another region that has been popular with British buyers.
According to Speigal there used to be a fairly well established pattern of British buyers working until their retirement and then spending their savings on a home in the sunshine but modern ways of working and shifting values among the younger generation are having a significant impact on that approach.
Meanwhile, CaixaBank says the real estate recovery is getting stronger and is led by coastal regions with demand from foreign buyers playing a major part.
‘Many people struggle to buy UK property well into their 30s, if not their 40s these days. With remote working an option and property prices in Spain so reasonable and particularly so in Almeria where the average property costs just €129,000, the appeal of
Foreigners buying second homes lie behind a large proportion of the sales recorded on the Mediterranean coast and Canary Islands. Overseas buyers made up 30% of sales in the Balearic Islands, the Canary Islands, Malaga and Murcia, the bank figures show.
Article provided courtesy of propertywire.com
LUXURY GARDEN APARTMENT WITH SEA VIEWS, Riviera del Sol - Urb. Miraflores Good rental property investment! large living room with loggia. Tropical gardens with swimming pool. 1 bed I 1 bath I Built: 75m2 I Price: 145.000€ I Ref: A160703
Charming townhouse in the popular area of Elviria, Marbella balcony, lovely winter garden, private garden with access to the community pool. 2 beds I 1.5 baths I Built: 195m2 I Price: 199.000€ I Ref: T160901
Bungalow recently renovated to a high standard, Costabella, Marbella Walking distance to the beach. Garage and garden 2 beds I 1 bath I Plot: 307m2 I Built: 130m2 I Price: 265.000€ I Ref: T161001
PRICE REDUCED - Penthouse with panoramic views, Marbella, Center town Perfect home close to all amenities, large terrace and underground parking. 2 beds I 2 baths I Built: 196m2 I Price: 495.000€ I Ref: A160701
Imposing luxury villa, Bahía de Marbella close to the beach Located in one of the best locations of Marbella 4 beds I 3 baths I Plot: 1589m2 I Built: 650m2 I Price: 2.200.000€ I Ref: V160501
Imposing FAMILY HOME, Marbella, El Rosario / Las Chapas Walking distance to the beach, large pool, landscaped garden 9 beds I 8 baths I Plot: 2701m2 I Built: 876m2 I Price: 3.200.000€ I Ref: V160401
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2 Bedroom Apartment Casarea Costa • 2 BEDROOMS • 2 BATHROOMS
Urb. Vista Bahia, Casares Costa A lovely well-presented 2 bedroom garden apartment with south facing views to the sea on the desirable Casares Costa. A beautiful elevated location close to the sandy blue flag beach and beach bars, golf courses of El Cortesin, Casares Golf and Doña Julia and a short 5 minute drive to the seaside village of Sabinillas and the marina of La Duquesa. The apartment is located on a gated complex with a beautiful swimming pool area, well maintained gardens and short walk to a large park with bar / restaurant - an ideal holiday location.
• 107m2 BUILT • 170m2 PLOT
3 Bedroom Villa Estepona • 3 BEDROOMS • 3 BATHROOM
Urb. Don Pedro, Estepona
• 191m2 BUILT
A stunning 3 bedroom villa located in the highly desirable hillside urbanisation at Don Pedro, Estepona. This independent villa boasts secluded gardens and a private swimming pool with multiple sunny terraces. . This villa makes a beautiful family holiday home or permanent residence. A 2 minute drive from Estepona port and town, walking distance to the blue flag beaches with fantastic motorway access. An hour from Malaga airport and 30 minutes to Gibraltar Airport. The property is in excellent condition and viewing is highly recommended.
• 500m2 PLOT
For more information contact: firstname.lastname@example.org Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com
3 Bedroom Apartment Casares Costa • 3 BEDROOMS
Majestic Gardens, Casares Costa
• 3.5 BATHROOMS
Luxury ground floor apartment situated in the high quality and much sort after gated community of Majestic Gardens, located next to the PGA Championship Golf Course at Finca Cortesin and just a short walk from the blue flag beaches of Casares Costas. The charming village of Sabinillas is a 3 minute drive away and the picturesque marina and golf complex of La Duquesa a short walk further. Excellent access to Gibraltar, Sotogrande, Estepona, Marbella and Puerto Banus The apartment has a contemporary feel, very tastefully furnished and finished to a high standard.
• 193m2 BUILT • 193m2 PLOT
2 Bedroom Villa Duquesa • 2 BEDROOMS • 1 BATHROOM
Hacienda Guadalupe, Duquesa Lovely semi detached villa with a large private garden and room for a swimming pool, affording lovely panoramic sea views. The villa is situated on a well established urbanization a short drive to the lively marina of Duquesa, sandy beaches and golf courses. The villa is a rare opportunity and has much potential for extension, pool, carport etc... if required. Full of charm and character, a super holiday home with rental potential or more permanent residence. Viewing recommended.
• 75m2 BUILT • 286m2 PLOT
For more information contact: email@example.com Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 For more information contact: firstname.lastname@example.org Tel: (+34) 952 891 221 Fax: (+34) 952 892 486 C/ Isaac Peral 4, 29692 Sabinillas, Manilva, Málaga www.castlesestateagency.com
Issue 23 Sept 22 - Oct 05, 2016
WEEKEND WORLD - 37
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