Olive Press Property Magazine - Issue 32

Property

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www.theolivepress.com

Issue 32

August 2019

JAW-DROPPING: Spanish firm wows judges in battle for award SEE PAGE VI

New fans Why this medieval town - among others - is being praised by Spain’s top architects, see page XIV

Sheikh it up Man City owner snaps up €16 million mansion down the road from Julio Iglesias near Marbella

LUCKY: Sheikh Mansour

MANCHESTER City FC owner Sheikh Mansour will soon be neighbours with Julio Iglesias, it has emerged.

The football mogul, 48, has splashed out on a stunning €16 million, 25-acre farm near Monda.

Set on the edge of the idyllic Sierra de las Nieves, Finca Moratan y Bornoque comes complete with four farmhouses, a 72-metre-square pool and a guest cottage.

The Emirati royal can even get his hands dirty with his new home’s walnut plantations, cork farm and cattle fields, which can generate over

€150,000 a year in extra income.

His new pad even sports a 60 x 12 metre private dam, used for irrigation, watering animals and fire prevention.

Mansour, who is deputy Prime Minister of the UAE, will also count embattled Spanish pop star Julio Iglesias among his neighbours.

The lothario singer, 75 - whose love child was recently proved to be 100% his son - owns the €145 million Las Cuatro Lunas in nearby Ojen.

Even the Sheikh cannot rival the musician’s mansion, which boasts four pools, a recording studio and a guest

SPRAWLING: Sheikh’s new estate in Monda

house across 450 acres.

The estate - which Iglesias put on sale last year - was also the site of the

artist’s secret wedding to Miranda Rijnsburger in 2010, in front of just 15 guests.

PROPERTY

II

August 2019

Mark Stucklin

Choppy waters

I SEE signs that the Spanish Taking out a mortgage is getting more mortgage market is heading complex, which is sure to turn off some for choppy waters as a result of Government interference, foreign buyers at a time when demand is and it’s not great news for the already going soft, writes Mark Stucklin housing market in general, and foreign buyers in particular.

The other day Banco Santan- gulations kicked in on the 17th I asked Kevin Monger, a founder announced their Q1 results June 2019. Overall foreign de- ding partner of Mortgage Diand tactfully pointed out that, mand declined in Q1for the first rect, a company specialising in thanks to new mortgage re- time in almost a decade, with sourcing mortgages for foreign gulations, it’s getting harder to pronounced falls amongst nor- borrowers, for his thoughts on sign a mortgage in Spain due thern European nationalities like the subject. to “longer and more complica- the British and Swedes, whom “We have not noticed any chanted processes” in the words of Spanish banks prefer to lend ge in foreign demand for SpaManaging Director to when it comes nish mortgages yet, but I feel José Luis Álvarez. to foreign clients, it’s too early to see any marked He was too diploas the paperwork change,” he told me.

Some potential and credit scoring “Banks are still getting to grips matic to criticise the Government in is easier. It’s not with the new laws, not least the foreign buyers Madrid for its new hard to imagine situation where clients are not could now mortgage law but that a percentage earning in Euros, as the general you don’t need a abandon the idea of potential foreign interpretation is that they can PhD to work out of buying in Spain buyers will now switch the mortgage currency what he was saabandon the idea to the currency of the earnings if ying. The new reof buying a home the exchange rate goes against gulations are going in Spain because them by a certain margin. This to make it harder and more ex- getting a mortgage is simply is a huge risk and we will popensive to take out a mortgage too much trouble. Maybe len- tentially see more conservative in Spain, especially if you are a ders were already adjusting to lending to those earning in GBP, the draft regulations in Q1, with USD, CHF, NOK, etc etc.” foreigner.

Foreign demand for property in might help explain the decline Even if reports from the coal Spain was already going soft in foreign demand that period. I face of the mortgage market are not yet bad, Kevin added, before the new mortgage re- don’t know.

www.spanishpropertyinsight.com

“Things are changing by the day with banks formulating new policies – It promises to be an interesting time.”

Personally, I can’t see how forcing borrowers using mortgages to visit a notary ten days before completion will not have a significant negative impact on foreign demand.

Mortgage Stamp Duty Increases in Catalonia Meanwhile, in Catalonia, the Regional Government has announced plans to increase mortgage stamp duty from 1.5% to 2% on all mortgages taken out in the region. This will distort the Spanish mortgage market, with higher borrowing costs in Catalonia than anywhere else in Spain. The move will increase

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setup costs by close to €800 on a typical loan of €125,000, calculate the CECA banking association. As most loans in Catalonia are €140,000 or more, the cost to borrowers will be even higher, as it all gets passed onto borrowers one way or another.

The rising cost and complexity of taking out a mortgage in Spain, especially in Catalonia, is likely to discourage a certain amount of foreign buyers at a time when foreign demand is already going soft. Bear in mind that foreign demand is key to to some market segments on the coast and islands, and in cities like Barcelona, Madrid, and Palma de Mallorca.

www.spanishpropertyinsight.com

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August 2019

Magnifique

Bargain in the sun A PLACE in the Sun presenter Jasmine Harman was stunned when a couple on the show snapped up an ‘amazing’ property for just £48,000 (€52,000) in southern Spain. Tracey and Dean from Bristol were ‘amazed’ after their offer was accepted for the 2-bedroom penthouse next to the beach in Murcia’s Mar Menor.

Rocketing rents THE average cost of renting in Spain has shot up by 50% in just five years.

According to Idealista, the places worst-hit by the rent hike were Palma and Barcelona (more than 50%), followed by Malaga, Madrid, Las Palmas de Gran Canaria and Valencia (all around 45%).

The report found that rental charges have increased at a ‘significantly’ faster rate than housing costs.

It comes as anti-tourism groups have staged protests in hotspots like Palma, blaming holidaymakers for the spike in rents. Inland areas, meanwhile, saw the lowest bumps in rent.

BARGAIN: Home on hit property show

The home, which overlooks the coast, was on the market for £55,000 (€60,000) and the pair had a budget of £70,000 (€75,000).

“That’s some deal! Wow,” Harman exclaimed after sealing the deal on the phone, “I am really amazed.”

ARCHITECTS behind a new luxury residential tower under construction in Barcelona have revealed the full design.

The project entitled ‘Antares’ has been led by French architect Odile Decq and will comprise of a 30 story tower with 89 flats offering sweeping views of the city.

Located on avinguda di-

agonal, one of Barcelona’s broadest and most important avenues, the development will offer a selection of one to four bedroom apartments.

"Antares is my first residential development and its design speaks to the heart of my philosophy to bring originality and innovation to everything I do," explained Odile Decq.

COMING SOON: New tower

Painting history Picasso Towers to have cinema, gym and celebrity residents as more details of luxury development emerge AN Antonio Banderas-backed development on the Costa del Sol has claimed it will be the ‘most desirable in Spain’ and ‘possibly the world’.

Picasso Towers will bring a ‘new level of luxury’ to Malaga’s seafront with 71 luxury five-star homes ranging from two to five bedrooms and two penthouse apartments in each block (both with their own private pool).

Other new details to emerge include a cinema, several

swimming p o o l s, gyms, office space, a child daycare centre and 24-hour concierge service.

Banderas has already purchased a home in one of the three blocks, where prices start at €650,000.

The average price per square

Raising the roof

ALL CHANGE: For Bilbao museum

FOSTER + Partners has revealed plans to add this incredible overhanging rooftop extension to the Bilbao Fine Arts Museum.

Created with local studio LMU Arkitektura, it was the winning bid in a competition that invited studios from around the world to ‘write a new chapter in the life of the institution’. The addition will contain a mix of gallery spaces and public viewing platforms. It will form part of a wider overhaul of the museum which will also see the restoration of several original elements.

Beauty "I hope antares sets a new standard for what a luxury building can be. from the building’s architecture, which embraces the beauty of the surrounding barcelona area, all the way to the finishes in the interiors, I have taken the utmost care and consideration into every aspect of its design."

Office blocked

GAME CHANGERS: Picasso Towers will arrive to Malaga in 2021

metre is currently between €5,000 and €6,000.

The project has been described as ‘Hyde Park One meets Malaga, without the ridiculous prices’.

Lead architect Maria Chocarro recently told reporters the ‘three towers will change the skyline of Malaga forever’.

Isaaq Majid Gomez, operations director for PrimeHouse,

the agency which will be marketing the development, has reported that 30% of residences in the first tower have already been sold off-plan.

The apartments are being built and developed by Metrovacesa and luxury property firm Sierra Blanca Estates Developments.

Meanwhile, famous Spanish architect firm Estudio Lamela is taking care of the design while award-winning designer Jaime Beriestain is looking after the interiors.

The first block will be ready in 2021.

THE Mayor of Malaga has said he would like to see the city’s old landmark Post Office HQ be turned into offices.

It comes after some councillors suggested the the iconic but derelict block of 4,097 square meters, near Puente de Tetuan, be converted into a hotel or a halls of residence.

“While I have always said that Malaga needs hotels, I have also reiterated how much it needs office buildings for rent and warehouses for logistics,” said Mayor Francisco de la Torre.

Andalucia Minister of Finance, Juan Bravo, said there were ‘many companies’ interested in the site, but that the first priority would be to ‘clean the building’.

NEW FUTURE: Post office HQ

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August 2019

PROPERTY

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Barking up the right tree

August 14th - August 27th 2019

A

S the ever increasingly hot summers - and extreme weather around the world - remind us, global warming

is real.

And its inspiring industries around the world to find solutions within their fields - not least architects and designers.

One Barcelona-based studio has created two energy efficient homes in the forest in the Basque country made completely from cork and wood.

Emiliano Lopez Monica Rivera Arquitectos explains: “The structural base is in concrete and supports the cross-laminated timber structure above (produced in the Basque Country).

“All is clad on the outside by two layers of insulating cork.

“Inside the houses, the structural wood is left exposed, resulting in an atmosphere that is closer to the surrounding woodland than to the sea five hundred meters away.”

Both houses obtained a Class A energy rating (highest achievable by Spa-

nish standards) with an annual energy consumption of 41.44 and 46.22 kWh/m2 and emissions of 7.04 and 7.88 kg of CO2/m2 a year.

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14 August

FUNERAL

VI

August 2019

PROPERTY

Out of the shadows Young Spanish firm up for ‘emerging architect’ of the year award

T

HE competition is heating up for this year’s Dezeen awards.

From thousands of architects and interior designers from around the world, the internationally renowned architecture publication will announce the winners on September 1.

Vying for the Emerging Architect of the Year is Barcelona-based studio Nomo.

The young firm has made an impression in the building biz with its white-washed homes comprising unusual shapes.

Below we have rounded up its most memorable works.

(See page VIII for the Spaniard vying for Best Interior Designer)

WOW: Frame House in Menorca, built for a private family, offers stunning views

GORGEOUS: (Top right) Stone House in Menorca while (below and right) its chic interior and views to the sea

EYE-CATCHING: Nomo’s latest project, Bridge House, comprises stacked pentagon pods in Menorca

GREAT AVAILABILITY OF 2 AND 3 BED APTS

CONSTRUCTION HAS STARTED!

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August 2019

PROPERTY

QUIRKY: Zig-zag feature in bathroom by Zooco

i n s t a l a c i o n e s info@instalacionesemasur.com www.instalacionesemasur.com

Air Conditioning Electricity Solar Panels – Plumbing Automatic Doors Swimming Pools Renewable Energy

Superior Interiors A SPANISH studio is battling to be crowned the Best Interior Designer of the Year at the upcoming Dezeen awards.

Madrid-based Zooco Estudio has made it onto the longlist of finalists from around the world thanks to its quirky and detailed projects.

Clients range from residents with city centre apartments to wine bodegas and start up offices.

Here we have rounded up some of the studio’s best works in Spain.

IMPRESSIVE: Wine cellar designed by Zooco has become an Instagram must in Valladolid, near Madrid

tel: 952 89 25 15 C/Espinosa – Edif Manisabi, Local 12 Ctra Sabinillas, 29692, Manilva (Málaga)

20 years of experience

UNIQUE: Apartment in Madrid with garden wall feature has helped Zooco make it onto the shortlist for top award

VOTED BEST and MOST INFORMATIVE WEBSITE by our 2018 customer database survey of 13,500

SEE for yourself...

www.inlandandalucia.com

includes: videos, google street maps, full descriptions, chat box

TH3069

127.000€

Antequera, Malaga 4 bed, 2 bath Build: 124m2

CJ502

89.000€

Alcala la Real, Jaen 3 bed, 2 bath Build: 128m2

The inside of this property is a typical Andalucian townhouse with beautiful tiling. Offering 4 spacious bedrooms, 2 bathrooms a good size lounge diner and nicely fitted kitchen. To the rear of the property there are 3 separate terraces and a pretty courtyard, this is a lovely property in a fantastic location.

The cortijo is located on a wide level road with off street parking, your own private garage, large patio areas and private terraces all with uninterrupted views. The main entrance is from the large front shaded patio into a good size kitchen, lounge diner with a wood burner and access onto your private sun terrace.

TH4117

TH4101

69.000€

Iznajar, Cordoba 4 bed, 2 bath Build: 142m2

115.000€

Alcaudete, Jaen 4 bed, 3 bath Build: 257m2

Situated in the beautiful town of Iznajar and just a short drive to the wonderful lakes where you can enjoy sailing, swimming and fishing. This townhouse is ready to move into with a tiled internal patio and private terrace. Located on a quiet, level street you enter the double fronted property in to a tiled hallway with a sitting room.

This well presented townhouse boasts a good size private swimming pool and sun terrace area with countryside views, it is ready to move into. Enter the property into a tiled reception hall leading to a separate dining room and a good size lounge with a wood burner, there is also a ground floor double bedroom.

VL750

VL921

189.950€

Puente Genil, Cordoba 6 bed, 3 bath Build: 250m2

189.000€

Puente Don Manuel, Malaga 3 bed, 3 bath Build: 140m2

Not even ten minutes from the main town of Puente Genil you will find this incredible property with 6 bedrooms and a massive swimming pool. The property benefits from two entrances from two different tracks, so it could be completely divided into two separate dwellings.

This bargain property consists of a patio area (with option to build a plunge pool) that surrounds the 3 floor build. On the ground floor you will find the lounge dinner, fitted kitchen, bedroom with fitted wardrobes and the guest floor. On the first level, there are two double bedrooms, both with en suites and fitted wardrobes.

TH4119

75.000€

TH4145 125.000€

This beautifully presented townhouse boasts a quality bright and modern interior with a private roof terrace giving commanding and spectacular views over the countryside and mountains. You enter across a small front patio into the bright and welcoming ground floor where you have feature stonework.

Traditional Spanish style townhouse in Cutar. The property looks out over the vast Axarquian hills and countryside.

Upon entering the property, you will find a patio. This property has permission to build a plunge pool on the main patio. On the ground level, you will find the lounge diner, kitchen and bathroom.

Castillo de Locubin, Jaen 3 bed, 2 bath Build 113m2

Malaga Office +34 952 74 15 25 info@inlandandalucia.com

Calle de la Villa 14, 29532 Molina, Malaga

Cutar, Malaga 3 bed, 1 bath Build: 145m2

Jaen Office +34 953 58 70 40

Axarquia Office

Calle Abad Moya 4b, 23680 Alcala la Real, Jaen

Cruce Puente D. Manuel 4, Edif. Al Zabel, 29713 Alcaucin

contact@inlandandalucia.com

+34 952

51 97 18

info@inlandandalucia.com

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August 2019

PROPERTY

Cool for the summer These Spanish homes know how to keep you cool in the hot season

B

€2 .5

m illi on

OY it’s hot out there.

Summer is in full swing and Europe is seeing record temperatures, and Spain is obviously no exception.

So when it comes to buying your dream property, it’s important to make sure it is adapted to summer climes, which are only set to become more extreme.

From infinity pools to white exteriors to open spaces and marble floors, there are dozens of ways properties can stave off the stifling heat.

Below we have rounded up some the hottest - and intrinsically cooler - luxury homes across Spain.

(All properties available on Sotheby’s International Realty).

Cap de Barbarie, Formentera

Santa Cruz, Sevilla

€6 .8 5

m illi on

This oasis was designed

by Philippe Starck and saw the birth of some of the great British designer’s best work.

The home features a huge infinity pool running along the edge of the house and is sure to keep you cool in the summer months.

Its open spaces and minimalist layout makes the spaces breezy and a perfect spot to spend your August.

Large windows look out into the sea, the light and the beautiful landscape, all the while kept under a thatch-style roof.

€9 .5

m illi on

Esporles, Mallorca This sweeping estate dates back to the 17th century and still preserves authentic elements alongside updated modern comforts.

It is located upon a huge plot in Esporles, with Mediterranean gardens for a cool shaded walk, featuring ponds and almond, orange and ancient olive trees.

There is also a huge swimming pool for a splash when the heat gets too intense.

The home includes 22 bedrooms, 20 bathrooms, two offices, four living rooms, several dining rooms, three kitchens, play rooms, independent guest house and wine cellar.

This traditional Sevillian house has an impressive windowed cylinder running through the centre of its top two floors.

It allows for natural ventilation across the three storeys - a must in one of the country’s hottest cities.

The ground floor features an apartment with a bathroom, office and garage.

The first floor offers a contemporary kitchen, a small dining room, a dining room open to the gallery and two living rooms.

On the second floor there are three bedrooms and two bathrooms.

On the third floor there is a separate apartment with a bedroom and a bathroom, as well as access to the impressive roof terrace with views of the city.

The two patios help give light and natural ventilation to the entire house.

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August 2019

PROPERTY . .A O P.

Portinatx, Ibiza This unique property is composed of two houses on the fronline of Portinatx, San Juan, Ibiza.

The white exterior helps keep temperatures down while its residents will benefit from the sea breeze, given that it has direct access to the Mediterranean.

The main house also has a garage, two fisherman houses, six double bedrooms, two bathrooms, one with bathtub and one with shower.

In the garden a guest house offers you one bedroom with bathroom and a living room. The property has a tourist license.

I

T can be astonishing how lightly some house hunters take purchasing a property in Spain.

Whether you’re looking to retire, invest in a rental home or simply want a holiday hideaway, one mistake is all it takes to ruin everything. Here are some basic steps that every prospective homebuyer must take before parting with their hardearned cash.

Do your research Don’t rush into anything.

Visit the area where you’re thinking of buying and explore. Check out the local amenities, shops, bars and restaurants and gauge whether or not you think you could fit into the local community.

And, obviously, never buy without viewing.

If the home is off-plan, look into the developer and make sure they have a good reputation.

Research if their previous projects were built well and on time.

Hire local experts Without tooting our own horn, mortgage broker’s like the Finance Bureau are essential to ensuring you get the best loan possible.

We have good relationships with the lenders and can highlight all the hidden fees and clauses that may trip you up later on.

Have in mind the type of mortgage you want and your broker will advise as to the most suitable, given your circumstances.

You will also want an independent lawyer to carry out all relevant checks and searches, even if the property is a new build.

In Spain, you should expect 12-16% of costs to go on completion fees.

by mortgage broker Tancrede de Pola

As Brits fly out to house hunt in the summer months, here are Tancrede de Pola’s hottest tips for avoiding the most common pitfalls Be Brexit ready Make sure you are fully aware of the requirements for owning a property and/or moving to Spain permanently will be post-Brexit.

Be aware that the fluctuating exchange rate may mean your pensions will go less further at some times and monthly mortgage payments will go up if being transferred in pounds from the UK. While Spain has guaranteed the rights of British expats already in Spain - who are officially registered - it is still unclear how easy it will be for new expats arriving or looking to retire.

Have your finances in order When applying for a mortgage it is imperative that you can clearly demonstrate that you have the funds (typically 30% + closing costs) available for completion.

Start running your bank account as if you already have a mortgage at least three months before you apply - Avoid excessive spending, cut out subscriptions and memberships that aren’t essential and don’t splash the cash on betting or gambling.

And don’t apply for new credit around the time you are trying to get a mortgage, you may be considered a greater credit risk if you do.

Finally, try to improve your credit score before applying, one tip: put all expenditures on a credit card and pay it off in full each month, ensure you are on the electoral roll.

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

m illi on

Hot tips

Golden Mile, Marbella

€1 6.

75

MORTGAGE THINK TANK

This huge property along Marbella’s Golden Mile couldn’t be closer to mediterannean (and the forgiving coastal winds) if it tried.

Its two pools and extremely large in-pool fountain give you ample opportunity to cool off in the summer months.

Constructed to the finest quality standards using the best technology throughout, it is built on two levels plus a large basement with cinema room, fitness room, sauna, wine cellar and industrial kitchen.

Andalusian charm E X T E N S I V E P R I V AT E E S TAT E I N T R A N Q U I L S E T T I N G

Price: 1.490.000 €

Beds 8

Built 719 m2

Bath 6

Plot 95.151 m

2

Ref: DM 4337

Desgined for laid-back leisure time, this gracious Andalusian finca is a peaceful and verdant retreat close to the villages of Coin and Alhaurín el Grande near Málaga, approximately 30 minutes’ drive from Marbella, Puerto Banús and Málaga’s airport. The estate includes a main home, guest house and staff accommodation in the midst of an extensive plot of land that guarantees privacy and tranquility with far reaching views over open countryside including the Alhaurin castle and the Sierra Nevada ski resort in the distance on a clear day.

The main house offers four bedrooms, kitchen with eat-in area and adjoining formal dining room. A spacious living room is attractively arranged in two separate areas, each of them with its own fireplace and access to the beautiful porch and mature garden which spreads towards the western wing of the house, providing the perfect scenario for al fresco dining and entertaining. The garden area extends down to the swimming pool with pergola.

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August 2019

PROPERTY

Not just a pretty face Architects think these are the most beautiful villages in Spain

W

E’VE all read about the purported beauty of Spain’s pueblos blancos.

Andalucia in particular is awash with these glistening, white villages, often extolled in publications like Tripadvisor and Lonely Planet.

Perched on top of hills and nestled in mountain valleys, they are one of the hallmarks of property and travel writing, along with Moorish ruins, winding cobbled streets and Game of Thrones castles.

But there is so much more to Spanish architecture than picture-post-

card villages.

From rooftop hieroglyphs to 500-year-old air conditioning, we round up Spain’s most beautiful villages, from the perspectives of top architects.

And yes, there is a whitewashed pueblo or two on the list...

Guadix, Granada

The ‘cave houses’ of this town which number about 2,000 - are its most remarkable feature.

These underground living spaces have been chosen by Andalucians since the 15th century, although these days, many are fitted out with full kitchens and even WiFi. Architect Roberto Benito described them as: “A natural insulator that causes the temperature inside to range between 18ºC and 20ºC all year.

“The silence and tranquility on the insides, which are also whitewashed to replace the lack of natural light in the deepest rooms, mean these types of homes are still being built today.”

Albarracin, Teruel

Often dubbed the ‘most beautiful village in Spain’, you’d be forgiven for thinking that the red sandstone facades of Albarracin are purely aesthetic.

In fact, the stunning building material was sourced from nearby quarries for its waterproof and insulating qualities.

“The organic material also changes colour over time due to the impact of light,” according to Ignacio Vleming, author of urban architecture book, Fisura.

He also described the Medieval and Moorish icon as the ‘summary of much of the popular constructive forms of Spain’.

Fornalutx, Mallorca

Alcantarilla, Murcia

This tiny village in the north of the Balearic island may have the most unusual roof tiles in Spain.

Set in the Serra de Tramuntana, stone-clad houses in winding streets are adorned with intricately crafted ceramic tiles, some of which date back to the 16th century.

Professor of Art History at Madrid’s UNED, Antonio Perla, said the the objects are ‘painted with scenes, images, symbols, prayers and dates’.

The mostly red tiles reflect the history of Fornalutx, including its loves, fears and even the weather.

Garganta la Olla, Extremadura This historical village boasts traditional architecture of stone, adobe and wood and is packed with winding paths.

Architect Javier Pena Ibanez recently described how the timber-supported walls of houses in Garganta la Olla

were originally designed to sleep animals on the floor with humans above, so they could harness their heat.

The architect and head of architecture festival Concentrico said the town is the ‘locality of the Extremadura region that best reflects the traditional constructive characteristics of the area’.

The stunning masonry however is not entirely practical, as some buildings in the town are fragile and lean on one another for support.

“These set of homes come complete with towers, ditch systems and water mills, and reflect a traditional lifestyle from the garden of Murcia,” Architect Sanchez Llorens recently said of Medieval town of Alcantarilla. Original Moorish settlers channeled the Segura River, using the

water for gardening and thus growing the mulberry in the 16th century so they were able to feed silkworms, adding Murcia to the silk road.

“That new source of wealth is reflected in its wooden structures,” added Sanchez Llorens, “which would have been expensive at the time.”

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MEWS THE DEVELOPMENT

The Mews, Town Range – a rare opportunity Within metres of the Governor’s Residence, The Mews is an enclave of 7 boutique houses and apartments each meticulously designed and built to a flawless standard, drawing on its unique gated location in the heart of the old town.

Four contemporary mews-style houses will be built on the foundations of the 19th-century stables, at the rear of the original, grand Victorian house, which will itself be refurbished to provide 2 thoughtfully designed apartments and a stunning duplex penthouse, commanding spectacular views. Mews houses are, by their nature, located in the very best parts of town. Providing a safe, traffic free environment that is both practical, and hugely charming.

PROPERTY DETAILS MEWS HOUSES Prices start from £750,000 Roof terrace with stunning views & optional jacuzzi hot tub. Master suite comprising Juliet balcony, fully fitted walk-in wardrobe & a luxury en-suite.

3 bedrooms 2 bathrooms 1 guest toilet Apartments & Duplex Penthouse details & POA

These carefully crafted prestigious homes have been designed to capture and celebrate the unique aesthetic of Gibraltar’s Old Town, melding light, space and structure to provide a traditional, yet contemporary interior design scheme that compliments its unique heritage.

EXCLUSIVE ESTATE AGENT Seekers Property Solutions tel: 200 449 55 email: info@themews.gi www.themews.gi

PROPERTY Not just a pretty face continued...

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August 2019

Vejer de la Frontera, Cadiz

Arcos de la Frontera, Cadiz

“Vejer is another white town where the mixture of lime, water and sand applied annually to the walls of its houses is a perfect measure against heat,” explained urban architect Almudena de Benito.

“The walls of this colour reflect solar radiation meaning lower thermal absorption and, consequently, cooler interiors.”

Bougainvillea bushes creeping up walls and around doorways also help fend off the searing temperatures to hit this walled hilltop village.

Outside the battlements sit swathes of orchards and orange groves, while inside, is a myriad of quaint cobbled streets, packed closely together.

What you may not know about this town is that its whitewashed houses are ‘organised around courtyards to regulate temperature’.

“It has a clear Arab influence but

Campo de Criptana, Castilla-La Mancha It wouldn’t be travel writing without invoking a bit of Don Quixote.

The windmills of Campo de Criptana are those which allegedly inspired Miguel de Cervantes to pen his seminal work back in 1605.

Quixote famously loses his mind and fights the cereal mills, the 16th century architecture of which, is still preserved today.

“The route of the windmills can help us to visit landscapes in which, as in the desert, on the coast or other homogeneous environments, certain architectures allow us to have geolocation references and at the same time participate in a collective imagination,” said Sanchez Llorens.

Viniegra de Arriba, La Rioja

Streets don’t get more cobbled than these.

Architect Pena Ibanez said this minute village of just 50 people is among Spain’s most beautiful because of the ‘conservation and maintenance of its popular architecture’.

“One of the most unique features is that its streets retain the old cobblestone. This urban event emanates from the whole town, which has stone houses from the 17th century.”

at the same time is a reflection of the rich mixing of cultures that made us who we are,” said architect and teacher at Superior Technical School of Architecture of Madrid, Mara Sanchez

Llorens.

She also claims that the organisation of gardens and buildings in Arcos de la Frontera even inspired Mexican architect Luis Barragan.

El Gasco, Extremadura The stonepile homes of Las Hurdes are almost the antithesis to the heat-stopping measures of Andalucia’s pueblos blancos.

These stacked slate structures are purpose-built to conserve heat, rather than reflect it, as in southern Spain.

For Sanchez Llorens, the village of El Gasgo, which was the site of a meteorite impact a million years ago, is the most emblematic of this cool architectural style.

“It is interesting to assess how these popular architectures also need a certain technique to be habitable,” she added.

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XVIII

August 2019

PROPERTY

Going round in circles

M

ARKETS are all about cycles and it seems that Expect property prices to plateau and the current growth cy- ‘sustainable’ to become the buzzword for cle, which started as a recovery from the financial crisis buyers, writes Adam Neale back in 2012-2013, is now reaching maturity. ply is beginning to catch up with Boom or bust for the Spanish Given this, what can we expect for demand.

Property Market? this year and the near future?

For the Spanish property market The property market in Spain recov- in general, this is the best year in If there is a market and price corered more quickly in foreign-market over a decade. But for areas like rection to come it is likely to be a locations such as the Costa del Sol, Marbella, which are further into moderate one, as the growth cycle Mallorca and Ibiza, but now seems the cycle, there is a sense that has not seen a ‘mad boom’ but a to be levelling off here. perhaps last year was the peak moderate up-cycle, with steady Problem factors are prices, which one. growth in sales and property values. are perhaps rising Nationally and lo- The initial explosion of demand for too swiftly, supply cally, construction is modern properties has been large– which has caught In general, this is once again a prime ly satisfied, and this will cause a up with and is bedriver in the econo- drop in the rapid increase in modginning to surpass the best year for my – growing 10% ern house prices and a relative demand – and a Spain’s property in relation to the shift of power back to existing repossible tapering previous year and sale properties. market in a off of demand which leading to almost The market’s appetite for sleek is not unusual and, 600,000 sales. white villas and apartments apdecade again, cyclical.

However experts pears to be slowly cooling but On the Costa del are warning that the homebuyers continue to look for Sol, enquiries bebest thing would be innovations in style, comfort, econgan to drop in the second half of a drop in new projects that would omy and, in particular, sustainabil2018 and generally speaking this bring supply and demand in line. ity. has continued in the first half of This would maintain sturdy price The latter will be one of the conthis year, confirming that 2019 is levels for now but it is expected struction buzzwords of the coming a year of consolidation in which that they too will begin to ease off years but for now everything points growth has levelled off and sup- before long. to more moderate levels of activity.

The Property Insider

by Adam Neale

According to figures compiled by one online portal, Spanish property prices grew by 7.8% last year in 2018, which beats even the 2006 level of 7.7%.

For this year, the increase is expected to be 4%-6%, and the total number of properties sold will also increase, by around 4%-5%.

The market for land remains a little overheated, especially in locations such as the Costa del Sol. But that should begin to alleviate a little as

investors and property developers react and reduce production, and with it a lower appetite for land.

On the whole, we can expect a levelling off of growth and an easing of some of the activity that has been driving house prices up quite steadily in the past few years.

It will be interesting to see if the market can maintain such moderated but still highly-acceptable levels of activity for the foreseeable future.

Terra Meridiana, 77 Calle Caridad, 29680 Estepona • Tel: +34 951 318480 Office Mob: +34 678 452109 • Email: info@terrameridiana.com • Website: www.terrameridiana.com

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