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DECADE OF P SUCCESS
roperty
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Celebrating our tenth year on the Costa del Sol
February 2024
Property
st be ag ’s m in ty lish SpaoperEng pr in
Property
S pr pa op in’ in er s b En ty es gl ma t ish g
August 2023
Kick off your heels at Spain’s hottest new hotels See page 6
www.theolivepress.es
May 2023
OUTDOOR LIFE
How to lead that Spanish lifestyle to the full See page 14
OLD TO NEW: how unwanted buildings have been given a new lease of life See page 22
Swiss salute!
A MAJOR global exhibition is to recognise work of architectural giants Herzog & De the ron, as they reach their Meu45th anniversary. The Royal Academy show, in London, is ring the Swiss pair’s explohealthy half dozen incredible designs, with a built These include (from in Spain. top left) the Barcelona Forum, Madrid’s CaixaForum and (main) the remarkable 2007 HQ Since 1978 the pair of Spanish bank, BBVA. jects, many yet to be have grafted on 600 probuilt, including Jerez Frontera’s City of Flamenco. de la
See Partners in Design
Golden Millionaire page 22
SPAIN’S golden visa pected to survive… butscheme is ex- Spain’s Golden it’s going to Visa double in price. rise to €1 million andscheme to survive… but investment threshold While Portugal and Ireland it could encourage spending likely of more than scrapped their programmes, recently in less-populated areasto investments deposits or shares of €1 million By Walter Finch But the government the visa scheme is expected in Spain was quick to vestment. ital companies, or more Spanish capto be exdeny his claims, insisting tended. than €2 million in government bonds. try was actually looking the minis- However, it has been frequently It comes after left wing Government sources at alternacritonly those investing indicate that party Mas Pais claimed thatpolitical tives with suggestions from various icised for creating inflationary pres- Certain desirable highly skilled pro€1million or Social fessionals sures and came under more will be given a three-year Security Ministry hadSpain’s political parties. scrutiny for cases are and family reunification provi- One encouraging black money res- sionally confirmed also idency permit. into the dency permit eligible for this resiit was to scrap but of these is to allow investment Spanish only in less-populated economy. the scheme. without A source told El Pais THE average international In 2022, Spain grantedinvestment. socially beneficial projects.areas or in Currently, the scheme allows will be doubled from thethat the figure Leader Inigo Errejon claimed buyer of 2,462 Spanish property has the Introduced in 2013 eigners to obtain a three-year for- visas to property investors, golden begun to trend of €500,000 invested in current total scheme had led to a ‘brutal’ in the wake of an indownwards in age profile, resi- crease By Walter Finch The new champions increase the Euro crisis, real estate or in house according to as an investment in a Spanish prices, adding: “Spanish the scheme was in- dence permit, extendable for another vious of nearly 60% from the preof the the latest data. Spanish company. cittwo, by investing at least expat year. market: Young Brits, tended as a means to izenship cannot be bought”. But now a report from This data from the While there are still €500,000 in in companiesOnly a handful invested re-inflate the real estate, College of RegisUnion de CredFrench and Germanshousing trars housing market through or government bonds. excluding any mortgages. pandemic paints an optimistic picture Germans, French andplenty of Brits, itos Inmobiliarios (UCI) claims foreign in- The mechanism that the home unleashed the genie of to UCI. Belgians com- the prevailing for 2023, with the first also applies to in- Since the scheme began some 31,000 ing in to hand over their trend quarter already people have acquired a cash, gone tional buyers indicatesamong interna- which hasoffice and flexible working, Despite the seeing 23,380 are the days of them golden transactions by foreignfact that interest rates seen a surge in younger visa. the new sheriffs being entirely in town are a ers. on mortgages for non-residents high-income, near-retirement younger, less financially buyers drawn by this way of working. are The maximum couples. comfortable demographic. invariably higher compared Thus they can fulfil The typical profile of financing percentage the dream of offered foreign buyers These young used to be people between to residents, the marketto those hovers around 70% of the property's upstarts (between 30 spending extended periods contin- valuation with on the ues to witness 50 and 60 and 40) have been years old, married with an amortisation period a surge capitalising on the Spanish coasts without waiting until children, with freedom afforded international buyers. in demand from of around 30 years. a high level of education by the digital nomad they are grey and wrinkly. Spain's attractiveness, The numbers are underlined As the Olive Press has reported come of more than €60,000.and an in- lifestyle to invest in Spanish property. enviable quality by a drarecentUCI's analysis shows that the Covid ly, buyers from the United States have matic 45% surge in foreign property of life, profitability, and its status as a stable safe haven for investments purchases also surged onto the scene, according transactions.in 2022, totaling 88,800 not, it seems, have been dented ward trajectory of interest by the uprates.
MOVE OVER GRAN DAD
LAUNCH: Feb 2015
2A0GE
COSTA LIVING.. WITH A DIFFERENCE P
SPECIAL
I
T is a coast famed for its endless golden beaches and unspoilt wind-swept beauty. But now the Costa de la Luz, in Cadiz, has a new claim to fame. Overlooking the Atlantic, the recently completed House on the Air (Casa en el aire) showcases the distinctive architectural prowess of famed Valencian studio Fran Silvestre Arquitectos. Drawing inspiration from its unique location on Playa Alemanes, near Zahara de los Atunes, the design team – led by Fran himself - envisioned a project that not only shelters but also inspires, framing the beauty of its natural surroundings. Navigating the challenging terrain marked by slopes and contours, it is artfully positioned as if it was gently perched
atop the landscape. Composed of stones mirroring the local terrain, its foundations not only anchor the house but also enhance its connection to its natural surroundings. This design choice ensures that the interior spaces provide uninterrupted views of the sea, capturing the glimmering reflections of the sunset. The home is divided into three distinct areas: The main living space with its amazing panoramic views and its master suite and three more bedrooms, which share the same views, and on the lower floor two extra bedrooms facing a shady courtyard. The House on the Air seamlessly integrates with its natural surroundings, providing a unique and inspiring living experience.
HEADING SOUTH NEARLY a quarter of all British professionals able to work from abroad would choose Spain to uproot. Some 22% of Brits yearning to ditch their dreary island in favour of better weather and increased spending power would choose Spain - if they could keep their current jobs. The country knocked America into second place with 19%, while France came a poor third with 13%. Portugal would be the dream location for 6%, while Southeast Asia gar-
Spain comes top for UK digital nomads thanks to its better quality of life - especially for women aged 25 to 30 By Walter Finch
nered 5% and Latin America only 3%. A striking 53% of UK professionals able to embrace remote working would move abroad, while just 33% would stick with Blighty and 14%
were undecided in the poll by Nebeus. The most common profile of a Brit looking to move to Spain meanwhile is a woman aged 25 to 30 in ‘a management role in the private sector’. Barcelona, with its blend of cosmopolitan flair, tops the list of preferred Spanish cities at 14%.
Other coastal locations, including Malaga, Marbella, Valencia, Alicante and Palma, were popular choices. Inland cities like Madrid and Sevilla also hold their own in the rankings, proving that Spain’s appeal extends beyond its coastline. The study points out several incentives for choosing Spain as a remote work base. The promise of a ‘better quality of life’ is the most significant draw at 46%, followed by the potential for
saving money (19%) and an attractive culture and lifestyle (12%). Job opportunities (7%) and tax incentives (4%) are also factors. Yet incredibly, 89% of British professionals were unaware of Spain’s digital nomad visa, with half questioned saying they would now look into it. The main financial challenges perceived in relocating include healthcare costs (31%), cost of living (21%), and retirement and savings plans (10%).