ROCK SOLID VIEWS!
ASPECTACULAR new geological viewpoint has been unveiled high in the Cantabrian Mountains, offering jaw-dropping panoramas of one of Spain’s most dramatic valleys.
Perched near La Farrapona in the rugged Saliencia Valley, the sleek steel-and-wood platform was designed by Puerto & Sanchez Arquitectos after winning a public design competition run by Somiedo Town Hall under its Sustainable Tourism Plan.
Set at the highest point of the
New ‘floating’ lookout opens in wildest corner of Asturias
valley, the lookout appears to float
with the region’s ancient rock formations – some of the oldest in the Iberian Peninsula.
The minimalist structure blends into its wild surrounds, with no flashy features – just pure mountain majesty and 360 degrees of raw geology.
BLINGED UP!
The Spanish style that took Spain and the Americas by storm - and then died out
LUXURY MARKET ON FIRE
SPAIN’S high-end property market is showing no signs of cooling, with luxury home prices jumping an average of 15% over the past year.
According to the study looking at homes costing over €860,000 – the most dramatic price hikes have been in some unexpected places.
Oviedo, in Asturias, leads the charge, with prices rocketing by an astonishing 43% in just 12 months.
It comes as the historic city’s football team just got promoted back to La Liga for the first time in a quarter of a cen-
Spain’sluxurypropertymarketgoesloco aspricessoaracrossthecountry tury.
By Walter Finch
Guadalajara, near Madrid, follows with a 35% jump, while Madrid itself has seen prices climb 28% - pushing the capital’s luxury threshold (the top 10% of properties by price) to €1.85 million. San Sebastian meanwhile is up 26%, Lugo and Las Palmas are both up by 22% confirming healthy demand in both the north of Spain and the Canaries.
Palma de Mallorca remains Spain’s most exclusive market, where luxury homes now start at €2.1 million – the only city to cross the €2 million threshold. Barcelona showed more modest growth at 8%, with luxury defined from €1.29 million, while Malaga has officially entered the million-euro club, with prices starting at €1.045 million.
For buyers with tighter budgets, Zamora offers the cheapest entry point to luxury – just €240,000 – followed by Palencia (€290,000) and Huelva (€293,250).
At provincial level, the Baleares top the list with luxury homes starting at €2.95 million, followed by Malaga province (€2.2m) and Madrid (€1.56m). Ciudad Real ranks lowest, where €225,000 gets you a top-tier home in
the top 10%.
The surge is being fuelled by strong international interest – particularly from northern Europe – combined with domestic demand, low interest rates and ongoing economic recovery.
Only Soria saw prices fall, dropping 9%, while Ceuta remained flat. Toledo, Santa Cruz de Tenerife and Pamplona each posted modest 4% gains.
The study by portal Idealista looked at data from all of Spain’s provincial capitals and regions between May 2024 and May 2025.
The European Commission has taken a firm stance against Spain’s long-standing practice of taxing non-resident EU property owners more harshly than Spanish residents—a move that could spell good news for the thousands of EU citizens who own second homes in Spain and have long felt unfairly targeted by the Spanish tax system.
Brussels demands fair play for EU property owners in Spain
At the heart of the dispute is Spain’s imputed income tax on homes owned by non-residents that are not rented out. While Spanish residents enjoy an exemption for their main home, non-residents—including EU citizens—must pay tax on a notional rental value of
FAIR PLAY FOR ALL
their Spanish property, even if it stands empty. The imputed income is set at up to 2% of the cadastral (rateable) value, and the tax applied ranges from 19% to 24%, depending on the owner’s country of residence.
Brussels argues this treatment amounts to discrimination, breaching core EU principles such as the free movement of capital and workers. After years of warnings, the Commission has now referred Spain to the Court of Justice of the European Union
Jenn Foster | Sales Agent
+44 754 796 2069
Jennifer@ERA-Costadelsol.com
Avenida Andalucia 21, 29679, Benahavis, Spain
(CJEU), citing both the imputed
EU takes Spain to court over discriminatory property tax rules that penalise foreign second-home owners
pital gains tax deferral as examples of unequal treatment.
Capital gains deferral: another unfair burden on non-residents
A second issue relates to the deferral of capital gains tax when a property is sold on instalment terms. Spanish residents are allowed to defer their tax liabilities in line with when they actually receive payments, easing the cash flow burden. Non-residents, however, must pay the full tax amount immediately, even if they won’t see the money for years. This effectively penalises cross-border sellers and, according to the Commission, violates the EU’s
A SWEEPING new housing package will hit foreign buyers, investment trusts (REITS) and empty homeowners in a bid to ease the housing crisis and prioritise long-term rentals for locals.
A new state tax, potentially as high as 100%, is set to apply to property purchases by non-EU, non-resident buyers.
So far there will be exceptions for those buying in the Basque Country and Navarra, while EU residents and VAT-registered professionals will be exempt.
Tourist flats offering stays under 30 nights in towns with over 10,000 residents will see VAT jump from 10% to 21%, aligning them with hotels.
legal framework. Spain has argued that its tax laws are consistent with EU law, but the Commission considers its response inadequate and has now escalated the matter to the CJEU.
Good news for foreign homeowners—and long overdue This legal action is likely to be welcomed by foreign homeowners in Spain—many of whom are retirees or holidaymakers from other EU countries—who feel they’ve been treated like cash cows by the Spanish tax authorities. Unlike residents, they’ve had to pay tax on properties that generate no income and face stiffer rules when se -
TAX CHANGES
REITS (or real estate investment trusts) will face a tax hike from 15% to 25%, unless over 60% of their stock is allocated to affordable rentals. They will also be fully exempt if they reinvest profits into affordable housing within three years. A new progressive vacancy tax meanwhile, will penalise owners of empty homes.
This will stack on top of existing annual IBI taxes, with town halls encouraged to apply additional surcharges to unoccupied properties.
lling up.
If the Court rules in favour of the Commission, Spain may be forced to revise its tax legislation and bring non-resident EU citizens in line with residents. That could mean the end of imputed rental income tax on second homes, and fairer treatment when it comes to capital gains.
What happens next?
Spain now awaits its day in court. A ruling from the CJEU could take months, but if the court sides with Brussels, Spain will have little choice but to change its laws.
In short, this case could mark the end of what many see as institutionalised tax discrimination against non-resident EU property owners in Spain—something that has cast a shadow over cross-border property ownership for too long.
The government also wants to extend tax relief for energy-efficient renovations and to offer income tax breaks for landlords charging below official local rental prices.
Housing Minister Isabel Rodríguez explained the measures are necessary to tackle speculation, clamp down on illegal tourist flats, and bring homes back onto the market.
The proposals form part of Prime Minister Pedro Sanchez’s 12-point housing plan and are expected to be debated in Parliament in the coming weeks, The minority PSOE government will certainly need backing from other parties in order to get any of their plans into law.
November 29thDecember 12th 2023
Marbella’s €20m villa boom
MARBELLA is cementing its reputation as Spain’s luxury property capital, with a string of €20 million-plus mega-mansions hitting the market.
Three standout properties include Villa Olympus, which previously sold for €27.5 million in 2022, Villa Altos Reales, currently listed at €25 million,
and Villa Sierra Blanca, expected to come in above €20 million.
However, these eye-watering sums are still well below the record €70 million price tag on Villa Bellagio, as reported by Olive Press Property last edition. Prices per square metre have surged by over 60% in five years, driven by rising international demand and a younger, tech-savvy buyer profile, according to GC Studio founders Lucia Casaus and Alexis Gonzalez.
Let the train take the strain
SPAIN should invest heavily in regional public transport to ease its worsening housing crisis, say university researchers. Improved transport links could encourage people to live outside overcrowded cities like Malaga, Valencia and Palma. While places like Cadiz benefit from good tram-train connections, many provincial capitals lack decent options, forcing buyers to stay in pricey urban centres.
Affordable
Experts from the University of Barcelona, Complutense in Madrid and University College Dublin have concluded that better regional transport would let workers access city jobs from affordable surrounding areas, easing demand and tackling housing bubbles.
They say this long-term strategy should complement rental controls and restrictions on speculative buying, helping redistribute population pressure and support economic growth in neglected regions.
PORTAL TO HOUSING
SPAIN’S third largest bank
CaixaBank has launched a new online property portal called Facilitea Casa, offering more than 40,000 homes for sale or rent across the country. The digital platform functions as a marketplace where partner estate agencies can list and manage their properties, whilst CaixaBank provides financing support to buyers and renters regardless of whether they are existing customers.
Partners
The portal operates similarly to established platforms like Idealista, but with the key difference that CaixaBank will handle the mortgage and loan arrangements whilst partner agencies manage the actual property sales and rentals. The bank will not directly sell properties itself.
Villa Olympus, in Cascada de Camojan, spans 2,600 sqm across a 4,700 sqm plot and features seven en-suite bedrooms with natural stone, marble and limestone finishes.
Villa Altos Reales, on Marbella’s
Golden Mile, stretches across 1,400 sqm on a 4,000 sqm plot and includes seven bedrooms, a spa, gym, cinema, wine cellar and infinity pool.
Villa Sierra Blanca breaks convention with a single-storey design, offering
FOREIGN WAVE
GERMANS have overtaken Brits as the top nationality applying for mortgages in Spain during the first quarter of 2025.
Figures from property portal Idealista show that 16.6% of foreign mortgage applications came from Germans, followed by 14.2% from UK nationals. Foreign buyers now account for 3.6% of all mortgage activity in Spain.
Applicants from Switzerland made up 8.7%, followed by the
By Alex Trelinski
United States at 7.7%. Next up are buyers from France (7.5%), the Netherlands (6.9%), Ireland (4.4%), Belgium (4%), Italy (2%) and Sweden (1.9%).
five bedrooms and energy-efficient features in the exclusive Sierra Blanca urbanisation.
Marbella's luxury market continues to attract high-net-worth international buyers. Recent developments have
included fashion-brand collaborations like those at Epic Marbella, with Fendi, Dolce & Gabbana and Karl Lagerfeld. GC Studio said Marbella is evolving into a hub of ‘exclusive, innovative projects tailored to global taste’.
Germans overtake Brits in mortgageraceasforeign demandstaysstrong
Idealista particularly noted the rising interest from Swiss and American buyers, with Dutch demand declining and French figures remaining stable. German applicants stood out for borrowing below the average, requesting around €148,946. By contrast, Swiss and American buyers typically applied for over €200,000, reflecting stronger purchasing power.
Risky investment
A LEADING property investment expert has warned against buying cheap flats in Spain as prices continue to soar.
Sergio Gutierrez, a real estate investment specialist, said the trend of influencers promoting €50,000 homes as easy earners could backfire on inexperienced investors. It comes as property prices hit a record €2,635 per square metre in May – a 14.8% year-on-year increase, according to portal Fotocasa.
Average salaries stand at €28,050 gross per year, while the most common salary is closer to €18,500–
€20,000, according to Spain’s National Statistics Institute. Gutierrez warned that bargain buys often come with hidden risks. “I keep seeing videos saying buy for €50,000 and rent for €500, and you’ll get a 10% return. It sounds easy, doesn’t it? But it’s not.”
His first warning is about tenant turnover. In low-demand areas, he said, landlords often face long vacancies between tenants.
His second concern is liquidity.
“These homes are hard to resell. That’s why they’re so cheap.”
But his biggest worry is a potential rental bubble. “Has nobody stopped
STRESSED OUT
The average age of foreign applicants sits between 40 and 42, with Germans averaging 40. Foreigners request financing for an average of 74% of a property’s value. German applicants request 73%, while the
to consider that when this bubble bursts, those flats may rent for €300 and nobody will want to buy them?”
He also cautioned mortgage-backed buyers, saying losses could be severe if the market shifts.
Rental data backs his concerns. Madrid saw the steepest increases at 15.1%, followed by Aragon (14.5%) and Catalunya (13.8%). Extremadura remains the cheapest region at €9.90 per square metre.
With housing supply tight and wages stagnating, Gutierrez warned: “It’s not as easy as social media makes it look.”
French average 76% and the Swedes 71%. Coastal regions remain the top target for foreign buyers. The Valencian Community drew 26.8% of interest, followed by Andalucia (21.1%) and Catalunya (14.5%).
The most popular mortgage product among non-Spaniards is the fixed-rate loan, accounting for 84% of applications.
A HOUSING crisis is threatening to cripple public services in the Balearic Islands, with 45,000 affordable homes needed by 2030.
That’s the warning from Joaquín Chinchilla, president of APROVIBA, which represents small and medium sized developers across the islands.
“There are doctors and police refusing postings because rent costs more than their salary,” he said.
The islands already face a shortfall of 18,000 properties, set to grow as thousands retire in coming years.
Developers say red tape, construction costs and poor access to credit are stalling progress. Chinchilla criticised the regional government for failing to unlock housing via the Balearic Islands Housing Institute.
He backed using vacant properties and praised new policies allowing taller buildings and urban land reclassification.
“Declaring the archipelago a stressed zone is urgent,” he said.
Developers currently have 1,000 homes under construction but warn rising costs and labour shortages could derail progress.
See Homeless in Ibiza on page 6
Staying vacant
UP to 150,000 rental properties could disappear from Spain’s longterm market by the end of 2025, sparking fears of a full-blown housing crisis.
The Secure Rental Observatory blames the sharp drop on Spain’s Housing Law, which introduced rent caps and stronger tenant protections.
As a result many owners have left the long-term market with numbers already down 17% nationally, while Barcelona has slumped by 46% and Cordoba 66%.
Families
In some cities, dozens of families now compete for each listing and Ibiza many have simply given up trying and now live in vehicles or tents (see page 6/7).
Many landlords are turning to short-term holiday lets, which earn up to 400% more or are leaving homes vacant due to legal uncertainty.
Rents have jumped 24% in two years, while tenants now spend 47% of income on housing.
GOING solo in Spain isn’t cheap – especially in big cities or resort hotspots.
A new study reveals that to buy a studio, you’ll need to earn at least €18,080 net annually, plus have €40,480 saved for a deposit and fees.
That’s based on a 30% income-to-housing cost ratio, a common financial benchmark. Renting is even tougher. With studios averaging €800 a month, solo tenants should earn €32,000 a year to stay within limits.
In Barcelona, you’d need €47,000 – more than in Madrid (€40,880) or Valencia (€40,000). The most expensive cities to buy include Madrid (€32,160), Palma (€31,560) and San Sebastian (€27,480). Bargains can still be found in Santander (€9,240) or Ciudad Real (€10,040).
Across provinces, the Balearics and Madrid are priciest, while Zamora and Caceres remain affordable. The study underscores how tough it’s become for single people – especially young professionals – to live independently in Spain.
SUPER LUXURY: Villas in Marbella come with more than just ‘all mod cons’, including (left) bowling alleys
TURNED UP TO ELEVEN Baroque
FROM the palaces of Spain to the cathedrals of colonial Mexico and the revivalist flair of early 20th-century California, the Churrigueresque style dazzled with theatrical excess and sculptural extravagance – a brief but unforgettable flourish in architectural history. Whether you find it breath-takingly beautiful, or over-the-top hideous, there’s no denying that the style has
The flamboyant Spanish style Churrigueresque is known for its dramatic details, twisting columns and elaborate stonework that shaped churches and palaces from Spain
By Michael Coy
rely manifests itself on flat walls.
to the Americas
What Jose and his family were stri ving for was not ‘rustication’ (which refers to rough, textured masonry), but rather a radical reworking of classical ornamentation – manipula ting columns and entablatures into
are to be found in Mexico. The Cathedral of Zacatecas and Santa Prisca in Taxco are outstanding specimens. What often happened was that Mexican churches like the Parroquia Antigua in Guanajuato stood unfinished for long periods of time. During the 18th century, these were often completed in grand style as money became available. When the Jesuits were expelled from Mexico and
other Spanish territories in 1767, they left behind institutions, funds and architectural legacies that contributed to a wave of construction in the churrigueresque style. Improbably, this highly ornate ‘look’ made it into the 20th century. In 1915, there was a Panama–California ‘expo’, at which two American architects made playful forays into the Spanish–Mexican format, triggering a new craze.
Comeback
Bertram Goodhue and Carleton Winslow developed ‘California Churrigueresque’, and many of their buildings still stand today in the city of San Diego. Could the style ever make another comeback?
We are reluctant to say ‘never’, but
it seems unlikely. Modern materials do not lend themselves to protracted modelling. Furthermore, modern owners are cost-conscious, and do not see ornamentation as a high priority. Most important of all, churrigueresque was a form of ‘trompe l’oeil’ – an attempt to convince the observer that heavy stone is a light and nimble material.
Today we build lightly. There is no need to beguile anyone, and therefore no modern role for this hugely elaborate style.
SUNGLASSES ANYONE?: The Iglesia de la Compañia in Quito, Ecuador is a fine example of the style, while (top) the impressive portal to the Palacio San Telmo in Sevilla, and (left) a detail from a Churrigueresque column
SHRINE TO BLING: In the San Sebastian monastery in Salamanca (left), while (below) the entrance to the Iglesia San Clemente in Segovia is typical of the style when applied to stonework
The style took Baroque’s qualities to theatrical extremes
WHAT A CEILING: At the Universidad Pontificia,in Salamanca, while (above) the more modern California Tower in the USA’s San Diego and (left) the San Esteban monastery in Salamanca
LA QUINTA, BENAHAVIS
Totally reformed townhouse with panoramic views
4 Beds | 4 Baths | 263m2 Built | 72m2 terrace
REF: 176-02973P | 1.950.000€
An exquisitely totally reformed townhouse located in the popular urbansiation of El Mirador de La Quinta in Benahavis. As you enter the property, you are greeted with an abundance of light, high ceilings and sea views through the extra high sliding terrace doors. The bespoke open-plan kitchen leads down to the extremely spacious living/dining room and straight out onto the covered terrace leading to the communal gardens offering stunning South-East facing views towards the sea and mountain. On the first floor you have 3 bedrooms and 3 bathrooms with the master bedroom having a generous walk in wardrobe, private terrace and a large bathroom suite with stunning views. On the third floor you have the 4th bedroom suite having access to 2 terraces also with stunning views. The townhouse was completely gutted and has been fitted with high quality materials throughout.
LA NIÑA, ALOHA GOLF, NUEVA ANDALUCIA
Charming 3-bedroom townhouse
3 Beds | 2 Baths | 315m2 Built | 257m2 terrace
REF: 176-02970P | 1.175.000€
The entrance has a nice feeling of privacy, almost like a villa that takes you to the hall of the property. From here you enter to the large family kitchen with a generous dining area and with all applainces you could ask for, from here you have acces to a patio that leads you into what is today the laundry and extra storage area (could be converted into a 4th bedroom) . Half a floor up you have the master suite with its own office, large walking wardrobe and bathroom suite leading out onto a private terrace.
LOS JARALES, ALOHA, NUEVA ANDALUCIA
Large townhouse with sea and golf views.
3 Beds | 3 Baths | 100m2 Built | 165m2 terrace | 653m2 build
REF: 176-02826P | 895.000€
We present this special & classic property in the well known development of Los Jarales. Nestled in the heart of Aloha with views towards the Aloha golf course and across the valley. The spacious entrance takes you to the property through the large patio where you can enjoy the morning sun and its a perfect place for the warm summer evenings.
SIMPLY THE REST
We round up some of the best boutique hotels for anyone opting for a road trip through Spain this summer
SMADRID
TOLEDO
O you’ve decided to take a drive around Spain this summer.
Depending on your route, you will pass some of Spain’s most emblematic cities and towns. It is a real opportunity to appreciate the myriad influences which have left their mark on the country’s culture and architecture.
In this spirit we have rounded up some of the best and architecturaly interesting boutique hotels at the most popular resting spots along the way, including Barcelona through to Madrid and onto Cordoba, Granada and Malaga or from Barcelona to Valencia and Alicante.
CORDOBA
SEVILLA
MADRID
The Only You hotel is a19th-century mansion located in one of the trendiest areas of Madrid, the Salesas neighbourhood, close to Chueca and the Paseo de Recoletos. The hotel’s hallmark
Situated in the old quarter of Barrio Alfalfa, original 17th century Corral del Rey has been restored into a luxury boutique hotel, offering chic accommodation with a roof top bar. Architectural highlights include the atrium patio, Roman marble columns, Tarifa stone floors and the original wooden carved detailing.
2 4 3 1
is its groundbreaking decor, the work of acclaimed designer Lazaro Rosa-Violan, which has earned several international awards, including Best Boutique Hotel in the World.
Boutique Hotel Adolfo sits in the heart of Toledo, one of Spain’s most beautiful cities. It has quickly become one of the most exclusive hotels in the imperial city with gorgoeus Art Deco inspired interiors.
Balcon de Cordoba sits in a historic 17th-century building with panoramic views of the city.The city centre dwelling is just metres from the famous Mezquita. It magically hides three beautiful courtyards complete with greenery and fountains behind its classical entrance, and has an upper terrace where guests can watch the sun go down while drinking in a 360-degree view of Cordoba.
TOLEDO
SEVILLA
CORDOBA
The Cotton House Hotel stands on the site of the former headquarters of the Cotton Textile Foundation (Fundación Textil Algodone -
ra), an emblematic 19th-century building in the neoclassical style which is a landmark in Barcelona. The refurbishment project, completed in
2015, has taken great care to maintain all the original elements of the building thanks to acclaimed interior designer Lázaro Rosa-Violan.
The Masia La Mota boutique hotel is located in an old farmhouse which has been lovingly converted to provide chic accommodation and a restaurant. The 10 luxury double rooms and two suites have been restored and decorated with a personal touch and with materials which create perfect harmony between what remained of the original house and the new improvements.
Hotel Casa 1800 is located in a charming luxurious house typical of the 16th century in the neighborhood of the Albaicin. It is a protected historic building with an originally preserved facade from the Renaissance period. It is also just a few hundred metres to the Alhambra, Spain’s most visited tourist site.
November 29thDecember 12th 2023
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The Palau de la Mar used to be a large stately home in the 19th century. However, located in one of the most beautiful and centrally located streets in Valencia, it is firmly in the 21st century with an electric car charging station, well-equipped spa and stunning terrace restaurant. VALENCIA
Palacete de Alamos opened in November 2016 and is located in the historical heart of Malaga, just a stone’s throw away from the main tourist attractions like the Picasso Museum, the Alcazaba and Thyssen Museum. The building dates back to the end of the 19th century and has been restored respecting the original architectural style.
Rooted in the land
TAC! 2025 pavilions champion local culture, climate and craft
By Dilip Kuner
ARCHITECTURE is going back to its roots – quite literally – at this year's TAC! Urban Architecture Festival, where winning pavilions in Alicante and the Canary Islands are putting the spotlight on natural materials, heritage craftsmanship and urgent environmental themes.
Now in its third edition, TAC! 2025 turns public squares across Spain into living, breathing design labs.
Two headline pavilions will be built this autumn – ESPARTAL in Alicante, and DE ROCA MADRE in Las Palmas de Gran Canaria – each selected from more than 100 entries submitted by young architects under 45. Both teams receive €15,000 and
a construction budget of €90,000. Inspired by the long-forgotten use of esparto grass in Spanish architecture, the ESPARTAL pavilion by ELE
Arkitektura, GA Estudio, Florencia Galecio and Juan Gubbins is set to rise in Casa Mediterraneo from October 16 to November 14.
The design features a suspended esparto canopy filtering light and creating deep shade – an ecological response to Alicante's status as the sunniest city in Europe. The team say they want to “revalue local material culture from an environmental, functional, and symbolic perspective.”
It's an effort to link rural craft back to the urban environment – reintroducing ancient materials with modern environmental relevance.
Over in Gran Canaria, DE ROCA MADRE tackles the island’s dual geological and ecological identity. Designed by Alejandro Carrasco, Eduardo Cilleruelo, Alberto Martinez and Andrea Molina, the pavilion combines volcanic rock with plastic waste collected from island beaches.
ecological damage’. Built from native stone and reclaimed rubbish, it references traditional Canarian construction while confronting today’s plastic crisis – a comment on how local shores are increasingly littered with debris from distant seas.
jects also caught the jury’s attention – and are equally bold in their blend of innovation and cultural revival.
The ephemeral pavilion is designed to shift over time...
It opens October 30 in Plaza Stagno and reflects on ‘the contrast between geological time and accelerated
In Gran Canaria, Gota a Gota by Nuria Blanco, Ivan Iglesias and Marcos Romero modernises the destiladera canaria, a traditional device for collecting drinking water from mist. Their installation captures moisture from the ‘Panza de Burro’ – the island's famous low cloud – transforming it into an urban water-harvesting pavilion. It's part science, part folklore – and entirely rooted in place.
Meanwhile in Alicante, Lava by Juan Manuel Lopez, Alvaro del Rio, An -
Two second-place prodrea Moreno and Carlos Pastor proposes building with… soap. The ephemeral pavilion is designed to shift over time, mel -
ONE DROP AT A TIME: Runner up in the Canaries Gota a gota has a modern take on an ancient ‘mist harvesting’ teachnology on the islands
ALICANTE: The Espartal pavillion pays homage to the use of traditional esparta grass throughout Spain and its ecological value
November 29thDecember 12th 2023
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Scan to visit our website
CANARIES: De Roca Madre tackles the island’s dual geological and ecological identity
ting and changing scent with the sun. The architects hope it prompts visitors to reflect on the lifespan of buildings and the sensory side of architecture. Both projects won €3,000. With themes of coastal identity, mate -
rial reuse and ecological awareness, this year’s TAC! is less about concrete statements and more about cultural continuity – with architecture that not only sits in the landscape, but grows from it.
DUBAI PROPERTY ROADSHOW COMES TO MARBELLA
If you’re considering investing in Dubai, this is the event you don’t want to miss. Join leading real estate experts for a special two-day Dubai Property Roadshow in Marbella, hosted by local agency Property on the Med, in collaboration with top Dubai real estate companies Provident Estates and Damac Properties — the second largest developer in Dubai.
Venue: Puente Romano Beach Resort, Marbella
Dates: July 25 & 26, 2025
This luxury event offers a unique opportunity to discover why Dubai is one of the fastest-growing property markets in the world. Compare investment prospects between the Costa del Sol and the Gulf region with direct access to developers, agents, and industry insiders.
“Dubai is an incredible, dynamic place to invest,” says Dean Spearpoint, co-founder of Property on the Med.
“These roadshows have taken place globally, and now here on the Costa del Sol”
Dean, (right) orig inally from south ern England, and business partner Robyn Govier, from Wales, be gan their jour
One of the most exciting resorts in the world
INDUSTRIAL 18KG WASHING MACHINES WITH COMMERCIAL WARRANTY OF 2 YEARS - ONLY €1099! ALSO WE REPLACE
Exclusive Two-Day Event for Investors — July 25 & 26 at Puente Romano Beach Resort
ney in property after meeting in Estepona. What started as a holiday home management business has grown into a thriving sales agency known for fivestar service and international connections. Their friendly and transparent
info@propertyonthemed.com
Robyn +34 671 13 98 40
Dean +447490148207
www.propertyonthemed.com
approach has not only attracted investors eager to work with them, but also caught the attention of Dubai’s leading real estate agency, leading to this exciting collaboration.
This is an open event — no tickets or purchase necessary.
Simply come along to learn, connect, and explore investment opportunities in one of the world’s most exciting real estate markets.
SKYLINE:
VENUE: Marbella’s Puente Romano Hotel
SUN, STONE AND SERIOUS STYLE
BLENDS IN: The stone construction complements Formentera’s natural geology
€54,000 compensation
TENS of thousands of mostly British homeowners in Spain could be owed a cool €50,000 in compensation after crafty banks were exposed for putting a hidden clause in their mortgages.
If you had a mortgage from Sabadell, Unicaja or many other banks, you could be in for a big windfall.
It stems back to the early 2000s when a string of lenders secretly wrote in their clients’ contracts that interest rates could not drop below 3.5% – in what is now known as a ‘floor clause’. However, for a decade, between 2011 and 2021, the interest rates in Spain sat at a record low, between zero and 1%. What this meant was tens of thou-
Inside the newly built villa on Spain’s Formentera that mixes sustainable design with island luxury
SAY hola to Le Cap – the sizzling new villa that’s giving Ibiza a run for its money.
Tucked away on Formentera, this six-bed mansion could be yours for a cool €8.9 million . From a distance, you’d think it had risen straight from the sand. Built entirely from natural stone, this pad is a blend of rustic charm and five-star opulence – the kind of place you’d expect to see a discreet A-lister sipping rosé and hiding from the paps. Behind the chic interiors is Barcelona’s design doyenne Sandra Tarruella, who’s sprinkled her magic across every corner of the 15,000 sqm estate. The main villa boasts four en suite bedrooms wrapped around an open-
By Dilip Kuner
plan salon – complete with fireplace. The oak-clad kitchen opens onto a terrace made for long, lazy lunches and golden-hour cocktails.
Casita
Forget your average glass – the windows are handcrafted iroko-wood beauties that ‘disappear’ into the walls, turning every view into a postcard. Think shimmering sea, rolling countryside, and not a neighbour in sight.
A sweet little casita (that’s posh for guest
for Brit against Banco Sabadell/Solbank mortgage
The clients are named Turner and the house is in Orihuela... and the ‘floor clause’ affected mortgage was approved in 2008
sands of homeowners spent years paying hundreds of euros more per month than they should have done.
One legal firm in southern Spain has been at the forefront of winning back money for affected homeowners – and on a promised ‘no win, no fee’ basis.
Fairway Lawyers boss Diego Echavarria, based in Marbella, told the Olive Press that one of his latest clients, the Coopers, were recently awarded a total of €21,075, plus legal costs. The British family had bought a home in Riviera del Sol, in Mijas, in 2006, but didn’t sell up until recently. They were totally unaware of the floor clause issue until they read about it in a copy of the Olive Press last year. Now, after six
months of legal wrangling, Echavarria, originally from Madrid, has won them the fee, plus compensation.
“It’s always a bit of a game and involves plenty
of legal letters being pinged backwards and forwards, but I know what I’m doing having done this for years now,” he explained.
It comes after the golf-loving lawyer, a member of Guadalmina, won another British couple, the Brighouses, €48,359, last summer.
The couple had bought an off-plan apartment in Mirador de Costalita, in Estepona, in 2004. They took over the mortgage from the developer, which contained the hidden clause and they ended up paying an extra €250 per month than required. It was the fourth case Fairway Lawyers have won on homes in Mirador de Costalita alone.
There are thousands of similar cases all around Spain in which expats or former expats had no idea they were victims.
“Right now I am handling cases all
over the country,” explained the father-of-two.
Warning signs
There are two tell tale characteristics to look out for; Your mortgage was signed off between 2001 and 2010 and your payments were the same amount for a large number of years.
“What is key is they will not have lowered for years,” continued the lawyer, who also handles many other legal work, in particular conveyancing from his office in Marbella.
He added: “Even if you have sold the property and paid off the mortgage, you can still claim.
“There is no deadline since the latest ruling from TJUE (Tribunal de Justicia de La Union Europea).
“There are around 100,000 mis-sold mortgages that have yet to be resolved in Spain.”
If you want to claim for a mis-sold mortgage or feel you may have been affected, contact diego@fairwaylawyers.com or send a message via Whatsapp to +606 307 885
Simple process
WHAT BANKS WERE INVOLVED IN FLOOR CLAUSES?
Most Spanish banks, but especially Banco Popular (now merged with Santand- er), Caja Duero, Caja España (merged with Unicaja), La Caixa, Solbank, Sabadell and many other savings banks which have since been taken over by major banks.
WHAT IS THE PROCESS FOR MAKING A CLAIM?
You need to submit a claim be- fore the bank to try to reach a settlement out of court. Then comes a three-month period in which you await their response. Unfortunately the Spanish banks do not want to reach any kind of agreement or set- tlement and they always force the clients to go to court to get a positive ruling. They do this because they hope clients will get fed-up with the process and drop the claim – which is why we operate on a no win no fee basis.
November 29thDecember 12th 2023
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