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olive press
www.theolivepress.es
March 2018
Issue 19
March 14th - March 27th 2018 Is this designer hotel in Madrid really the coolest place to stay in the world?
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SEE PAGE xiv >>
With spring rapidly approaching, we roundup the properties in Andalucia with the most enviable gardens SEE PAGE VIII
Stiff upper lip
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RITISH demand for properties in Spain has remained strong despite uncertainty surrounding Brexit. The last quarter of 2017 showed a 7.6% increase in prices and a huge 19.8% increase in sales. Meanwhile foreign year on year sales rose by 20.4% to 15,266 purchases. Foreign sales in last three months of
Brits refuse to stop investing in Spanish homes despite Brexit fallout and uncertainty 2017 were led by the British with 2,384 sales, followed by French and German nationals with 1,242 and 1,198 purchases respectively. This rise in British engagement was also a quarter-on-quarter increase of 0.9%.
UK nationals now account for 16% of the overseas property market share in Spain, which is an 8% lead on French nationals who account for the second highest number of foreign homeowners. Experts at A Place in the Sun said:
“Although Brexit has understandably stalled decisions for some, many British nationals continue to proceed with their property purchases in their number one overseas destination. “It could be suggested that British nationals during this period were encouraged by Alfonso Dastis’ (Spain’s Foreign Minister) pledge in October that British expats living in the country would face “no dis-
ruption” post-Brexit, amongst other positive comments surrounding pensions and European Health Insurance Card (EHIC) benefits at the time.” It added that it saw 55% and 28% increases in Spanish property searches and property enquiries by Brits respectively.
See Mark Stucklin analysis overleaf
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Hot water
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SOME 14 fire bosses have been arrested for allegedly embezzling €7 million in public funds. The Policia Nacional found that the Consortium of Bomberos Cadiz took out mass early retirement insurance policies. But when their employees retired early, chiefs siphoned off the money from the payouts. Authorities also found discrepancies in the consortium’s training courses. Large sums were paid to a company to provide training courses, but no evidence has been found that these courses took place. Meanwhile, irregularities were also found in grants and subsidies, which cops believe were used to pay for private trips. The irregularities date back to 2008 and cops believe at least €7 million has been stolen by those at the top.
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