IS IT WORTH IT?
As Portugal’s most expensive hotel reaches its 10th anniversary, the Olive Press asks if it is justifiable to drop €1,500-a-night at this stylish architecural gem
OVERHEATING, BUT ‘NO BUBBLE’
SPAIN’S housing market is showing no signs of cooling down, with analysts predicting prices will reach ‘levels never seen before’ by the end of this year.
The prediction comes as official figures reveal prices soared by a record-breaking 12.7% in the second quarter of 2025.
This is the highest annual increase since records began, according to Spain’s national statistics office (INE).
And the rises are not set to ease up, -according
Spain’srecordhousingmarketisfarfrompeakingdespite pricesreachingunprecedentedlevels
By Walter Finch
to investment expert Montse Cespedosa.
“In the last quarter of 2025, both sales volumes and prices will reach levels never seen before in Spain’s history,” said the financier, who boasts
over 27 years of banking experience. She added that anyone considering buying property here should brace for further price hikes. And despite the market already being at record levels, she warned there is no escape route from the chronic shortage of supply and excess demand plaguing the sector.
It comes as Spain’s mortgage market is also hitting record numbers in 2025, with 243,257 home loans signed in the first half of the yearthe highest figure since 2011.
“There is a volume of mortgage operations that I haven’t seen for years,” she continued. She also ruled out any imminent housing bubble similar to the 2008 crash, when banks recklessly granted mortgages to people who couldn’t afford them.
“There are still no signs of a bubble, but there is evidence of market overheating,” she concluded.
VANGUARD: Six Senses Douro mixes authentic local design with chic modern interventions
ALL QUIET ON THE TAX FRONT
BACK in January, Prime Minister Pedro Sanchez grabbed headlines with a proposal to either tax or ban non-EU, non-resident foreigners from buying property in Spain.
First floated as a punitive 100% surcharge on property purchases, the idea briefly hardened into talk of an outright ban, before reverting to the original tax model in May when the PSOE president tabled a draft law in Congress. Since then? Radio silence.
The draft law was bundled into a wider housing package with incentives for cheap rents, tweaks to the tax treatment of listed property companies, and higher VAT on tourist apartments.
But the foreign-buyer tax was always the most controversial element, and it has failed to gain traction.
Government plan to charge non-EU property buyers 100% has gone cold for now
motion in June calling for restrictions, while Canary Islands politicians are exploring their own measures. Yet without consensus in Madrid, these gestures remain symbolic. And even if Sanchez could conjure a majority in Congress, Brussels would likely strike the plan down.
This was never serious housing policy – just political theatre
The government doesn’t have a majority, and parties of the right will not back a new property tax, while the far left argue the measure doesn’t go far enough. With the proposal stuck in gridlock, nothing has moved forward.
Even regional initiatives haven’t changed the picture.
Catalunya’s parliament passed a
The European Court of Justice has consistently ruled against attempts to discriminate against foreign buyers on the grounds of free movement of capital.
Austria and Hungary have already failed with similar experiments.
Nine months on, the much-vaunted measure is still stuck in the starting blocks.
In the meantime, international reports have sometimes presented the tax as if it were already law.
The reality is different: it is far more likely that the proposal will remain a political gesture designed to appea-
se left-wing voters than ever become enforceable legislation. And the data only underlines how nonsensical the idea always was.
In 2023, Sanchez claimed that 27,000 non-EU foreign non-residents (FNRs) bought homes in Spain, suggesting they made up almost half of the total FNR market.
Yet notary figures – the government’s own source for housing statistics –show the true number was 18,648, or just under one third of the market. That is a discrepancy of almost 10,000 buyers, with no explanation offered.
The latest notary data for 2024 reinforces the point. The market share of non-EU FNRs slipped from 2.9% in 2023 to 2.7% last year.
In other words, an insignificant segment that is now in decline – hardly the driving force behind Spain’s housing crisis.
Nor do these buyers compete with locals for affordable homes.
The main groups are British, American, Swiss and Norwegians, typica-
INSIGNIFICANT:
lly purchasing coastal holiday homes rather than flats in Madrid or Barcelona.
Removing them would not free up housing for Spanish families, but it would hurt regional economies de -
pendent on foreign demand. With fresh data due next month, there is little reason to expect the picture to change. This never looked like serious housing policy – just political theatre.
November 29thDecember 12th 2023
Sevilla: the illegalholiday rentals hub
WITH its eye-catching orange tree-lined streets, renowned gastronomy and spectacular monuments it’s no surprise that Sevilla has become a leading destination for tourists.
But while the Pearl of Andalucia received around 4.8 million tourists last year - behind only Madrid and Barcelona - this steady stream of sightseers has had some unwanted consequences.
According to government data, Sevilla is the city with the highest number of tourist apartments operating outside legal regulations, with a staggering 2,289 units.
Marbella though, is not far behind with 1,802 illegal rentals, while Malaga has 1,471 and Benalmadena 926.
Andalucia meanwhile, has an alarming 16,740 illegal tourist lets - the highest region in Spain - followed by the Canary Islands (8,698), Catalunya (7,729) and the Valencian Community (7,499).
Last summer, Sevilla’s city council vowed to wage war on the proliferation of illegal tourist lets by disconnecting the water supply to illegally-operated tourist apartments.
Three owners appealed, but their complaints were thrown out in court who said action taken by the council was lawful.
In Barcelona, mayor Jaume Collboni announced that the city would effectively ban tourist apartments by 2028 by not renewing the licenses of over 10,000 legally operated flats.
And Pedro Sanchez announced plans last week to remove 53,000 tourist apartments from rental platforms across Spain. He added that problematic properties would be converted into permanent rental accommodation for young people and families.
WHILE the Costa del Sol continues to dazzle with its luxury developments and sea-view penthouses, the real bargains lie inland – most of them far from the tourist trail.
The cheapest place to buy is Cuevas de San Marcos (below), where the average price per square metre sits at just
Go inland, young man
€503.
That’s not a typo - you could buy 10 square metres there for less than the price of JUST ONE on the coast.
Second on the list is Alameda, with homes averaging €669/ m², followed by Benaojan,
where the going rate is €720/m².
Other wallet-friendly towns include Archidona (€800/m²), Humilladero (€806/m²), Campillos (€839/ m²), and Tolox (€973/m²) – all
offering a quieter lifestyle surrounded by mountains, countryside, and traditional Andalucian charm.
Slightly higher but still affordable are Fuente de Piedra (€1,051/m²), Casarabonela (€1,074/m²) and Arriate (€1,102/m²).
These 10 towns make up the list of the most affordable places to buy in Malaga – ideal for anyone chasing space, serenity, and sunshine on a modest budget.
In comparison the most expensive spots, include Marbella, where the average
home costs a jaw-dropping €5,258 per square metre.
This glam hotspot is closely followed by Benahavis (€5,205/m²) and Fuengirola (€4,301/m²).
Next up are Estepona (€3,955/m²), Benalmadena (€3,903/m²) and Ojen (€3,863/m²) with Malaga city itself at €3,549/m².
Housing boom
Propertysector fuels record business surgewitha quarterof allnew companiesformed
By Walter Finch
SPAIN’S property sector is driving an impressive business boom, boosting market confidence to its highest in years.
The latest Business Demographics Study by Informa D&B reveals that 84,938 companies were registered from January to August, a healthy 4.3% increase over last year. And a quarter of them - around 22,000 businesses - were in construction and real estate, a 10% rise from 2023.
Blinkandthey’regone
DEMAND for rental homes in some neighbourhoods across Spain are approaching physics-defying speeds.
At least one in five homes get snapped up within hours of going online, and Barcelona's rental mar-
ket moves fastest of all.
In Sant Andreu, a staggering 22% of properties evaporate within 24 hours, closely followed by Horta Guinardo at 21%. Nou Barris isn't far behind at 19%. The centre is slower at around 10%.
Madrid’s rental race is less frantic but still swift. Moratalaz tops the charts at 11%, with Latina and Puente de Vallecas neck-and-neck at 10%.
The capital's most expensive postcodes move slowest. Chamberi and Salamanca crawl at just 4% a day, while Chamartin and Moncloa manage a modest 5%.
Malaga keeps things relatively steady. Churriana leads at 13%, Teatinos follows at 10%, and most districts cluster between 4% and 9%.
Valencia shows a tale of two speeds.
The Jesus district races ahead at 18% - nearly one in five properties gone in a day.
Rascanya follows at 10%, but most other areas tick along at single digits.
Sevilla presents the most dramatic contrasts. Cerro Amate blazes at 16%, while Santa Justa hits 10%.
For expats and second-home buyers eyeing property investments, the figures signal a flourishing market.
Madrid is the undisputed leader in new business creation, with 19,021 companies registered - an increase of nearly 1,000 from the previous year.
Catalunya follows with 16,648 new companies, while Andalucia completes the top three with 14,185 firms.
Together, these three regions account for 59% of all new businesses, with popular expat hotspots like the Costa del Sol and Barcelona seeing the lion's share of activity. Andalucia is seeing particularly im-
pressive growth. In August alone, 182 new companies were established, while the Canary Islands, another favourite of international buyers, saw 175 new incorporations.
However, the study also reveals some intriguing contrasts. While new businesses are booming, total capital investment fell by 11.2% to €3.77 billion.
This suggests entrepreneurs are focusing on leaner, more nimble operations rather than large-scale developments.
In terms of regional investment, Andalucia leads with €934 millionup 27% from last year - while Catalunya attracted €716 million, and Madrid secured €647 million.
FANCY picking up a bargain house in Spain?
If you are, then you’re in luck as four houses are set to go up for auction this month - with bids starting from as low as €6,600. The auctions for the four properties - all in Malaga province - are live on the Agencia Tributaria’s online auction portal, with bids accepted 24/7 until the end of the month.
The first property is a 98.6 metre-square apartment in Benahavis with a large terrace and garage.
The flat is valued at over €100,000, but bids are accepted from €10,397.
Bids
A two-storey house in La Viñuela (valued at over €100,000) is also up for sale, with a garden to soak in the sun, and with starting bids from just €10,637. Tempted by the tiny town of Pizarra, a ground-floor home valued at over €65,000 is up for grabs, with bids accepted from €6,631.
Finally, a two-floor house in Marbella could be yours - although it comes with an existing debt of over €90,000, so bidding starts at over €100,000.
Too brutal: Don’t destroy our heritage
PLANS to turn one of Barcelona’s most famous cinemas into a new Thyssen museum have sparked fury among locals.
The Federation of Neighbourhood Associations of Barcelona (FAVB) claims it is merely property speculation dressed up as culture.
The group is leading opposition to the nine-storey scheme at the former Cinema Comedia in the Eixample district.
They say the project will gut the original Palau Marcet building, leaving only its facades as ‘decoration’ for a vast new complex that will include shops and restaurants alongside exhibition spaces.
A manifesto signed by 1000 residents and 49 organisations argues that the project breaches planning rules, exceeds height and depth limits, and ignores official heritage guidelines.
Among the biggest complaints is that at least a quarter of the site is earmarked for luxury retail – a move opponents call wildly inappropriate for such an ‘iconic corner’ of the city.
Critics also slam the proposed ‘brutalist’ architecture as
out of place, and point out that no detailed museum plan has yet been published. The Cinema Comedia building holds a special place in local
SPEEDY: Rentals in Horta Guinardo (above) and Mortalaz are snapped up
LOCAL LANDMARK: There are plans to turn the Cinema Comedia into a new Thyssen museum
memory, having been a beloved cultural landmark before closing in recent years.
CHEAP: Benajoan, while (right) there is a bargain in La Viñuela
AUCTION: Bidding starts at just €6,631 for a property in Pizarra
Offering you help, support and advice during your search, through the buying process and personal after sales services.
We have a wide range of properties to interest our clients, from small village houses to large country fincas or cortijos.
Tel/WhatsApp: (+34) 669 249 539 email: info@andalucianpropertysales.com www.andalucianpropertysales.com
Another pretty face
But the latest council house project in Spain is cutting energy demands and enhancing the community
By Dilip Kuner
RISING from the edge of Inca with its warm, earthy tones, this housing project shows how humble materials can create facades that are both practical and poetic.
54-apartment development demonstrates how affordable housing can still feel rooted in place and generous in spirit. The complex is arranged in two ‘volumes’ divided by a
Designed by Joan Josep Fortuny Giro and Alventosa Morell Arquitectes for the Balearic Housing Institute (IBAVI), the landscaped public courtyard, encouraging neighbourly interaction.
Each apartment enjoys double orientation: ground-floor homes open to private gardens, while upper levels spill onto terraces, capturing breezes and sunlight throughout
the day.
The facades give the pro ject its character.
Local brick, recycled cotton insulation and a sprayed cork and lime finish produce walls that breathe, buffer heat and age gracefully. Their natural pigments catch the Mallorcan light, shifting subtly as the sun moves.
Rhythm
Slim aluminium frames hold deep-set windows shaded by larch wood shutters, whose golden tone adds rhythm and softness to the elevations. More than just an aesthetic choice, these facades act as climatic mediators, cutting energy demand while creating outdoor thresholds that bring life to the community.
The project stands as a model for sustainable and dignified social housing.
Materials are
and
LIGHT: Plays a big part in the design
LOCAL:
sustainable
sourced on the Balearics
MODERN FRONTLINE GOLF VILLA
El Campanario, Estepona
REF: 176-01759P | 1.875.000 €
A modern south facing 6-bedroom frontline golf villa located in El Campanario, Estepona East, within a short drive of beaches, a variety of golf courses, San Pedro de Alcantara, Puerto Banus and Estepona Town Centre. Distributed over three floors, the accomodation comprises an entrance hall, a guest toilet, an open-plan fully fitted kitchen, lounge and dining area with direct access to the covered terrace with seated areas and views overlooking the pool & manicured garden. Upstairs, there are four double bedrooms, two of which are ensuite and two bedrooms sharing a family bathroom. From this level, there is access to the large solarium with built-in BBQ, Jacuzzi, covered area ideal for outdoor dining and views overlooking the golf course. On the lower level, there is a large living/ entertainment area, two guest bedrooms sharing a bathroom, laundry room and storage. Situated next to El Campanario Club where there´s a gym, restaurant, indoor pool and a 9 hole golf course.
6 Beds | 4 Baths | 550m2 Built | 135m2 Terrace 3
GROUND FLOOR DUPLEX, SEA & MOUNTAIN
Marbella Club Hills, Benahavis
A great opportunity to buy this unique ground floor corner duplex apartment in the well-known Marbella Club Hills Development. Due to its corner position the apartment enjoys privacy with sea and mountain views. The property has an open plan kitchen/living-dining room with sliding doors leading you out onto the terraces and private garden. On the same floor you have the master bedroom and due to the original design, an extension of approx 40m2 has been added where the current owners enjoy watching tv and a home office has been set up.
LA CERQUILLA, NUEVA ANDALUCIA
LA CERQUILLA, NUEVA ANDALUCIA
LARGE 3-BEDROOM TOWNHOUSE WITH VIEWS
Elegant bungalow for sale in an exclusive residential area.
Elegant bungalow for sale in an exclusive residential area.
Aloha Golf, Nueva Andalucia
5 Beds | 5 Baths | 2537m2 Built | 653m2 build
3 Beds | 2 Baths | 257m2 Built | 315m2 Plot
REF: 176-02231P | 5.950.000€
5 Beds | 5 Baths | 2537m2 Built | 653m2 build REF: 176-02231P | 5.950.000€
REF: 176-02878P | 925.000 € REF: 176-02970P | 995.000 €
Located in the prestigious residential area of La Cerquilla in Nueva Andalucia, this exceptional south facing residence is nestled between
Located in the prestigious residential area of La Cerquilla in Nueva Andalucia, this exceptional south facing residence is nestled between world-class golf courses and within close proximity to the finest dining, shops and beaches! The property sits on a generously sized plot and occupies over 600m² of living space with a stunning wrap-around covered terrace which is ideal to spend outside all-year-round and with views overlooking the Los
ideal to spend outside all-year-round and with views overlooking the Los Naranjos golf course.
A large townhouse located in the popular urbanisation of La Niña, Aloha Golf in Nueva Andalucia. 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, 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) . You also have a master suite with its own office, large walking wardrobe and bathroom suite leading out onto a private terrace.
golf course.
Grand apartment with a villa feel in the popular gated urbanization of Los Granados Golf directly front line golf to Royal Las Brisas, Nueva Andalucia. The ample reception
Naranjos
Grand apartment with a villa feel in the popular gated urbanization of Los Granados Golf directly front line golf to Royal Las Brisas, Nueva Andalucia. The ample reception suites that
terrace.
Beds | 3 Baths | 167m2 Built | 57m2 Terrace
Better and better
ABetween Gibraltar and the Costa
del Sol, Alcaidesa’s five star hotels and award-winning golf course make it more attractive than ever
LCAIDESA has quietly transformed, and investors are taking note.
Over the past two years this coastal haven has matured from well-kept secret to a luxury location that commands the attention of the well-heeled across the globe.
Anchoring this change is the opening of the Fairmont La Hacienda Costa del Sol in early 2025 – a five-star resort of 213 rooms, suites and villas, set in landscaped gardens that spill toward the sea.
Adding to the appeal is the new OKU Hotel, a stylish five-star retreat that blends modern design with laid-back luxury, further cementing Alcaidesa’s status as one of the Mediterranean’s rising destinations.
The financial sums behind it, nearly €130 million, signals the value that serious investors see in Alcaidesa.
GREAT INVESTMENT: One Eden is in the final phase of its Serenity development, which are being snapped up fast
Golf lovers have new reasons to visit:
La Hacienda Links Golf Resort’s Links course, redesigned by Kurtis Bowman, was crowned Best Golf Course in Spain at the 2023 World Golf Awards. Its ‘Halfway House,’ the Calma Bar, was chosen Best Halfway House in the World in 2024.
Add the Heathland course
by Dave Thomas, sea-facing holes and sweeping views to Gibraltar and Africa, and what you get is rare: top-tier golfing without sacrificing peace and space.
Infrastructure and services in this exclusive corner of Spain are better than ever.
Fine dining options, boutiques, beach bars and wellness retreats now complement the pristine coastline and unspoilt beaches.
The expansion of amenities, including enhancements at La Alcaidesa Marina, further cements its status as a full service destination – but one that still feels exclusive.
At the heart of this growth is the resort area, where residents enjoy pools and crazy golf, gyms and jacuzzis, co-working spaces and family amenities – all designed around the idea that One Eden builds communities, not just homes. In the centre of all these high quality, high class amenities is Serenity, the final phase of the Serenity Frontline Golf Homes development by One Eden. But be warned – the remaining units are selling fast.
With frontline golf homes and sea views, it sits in the sweet spot between Gibraltar and the Costa del Sol, only ten minutes from the prestige of Sotogrande. For those who seek more than sunshine — for those who want lasting capital growth, rising rental demand and a place of rare natural balance – Alcaidesa offers a refined investment opportunity. It’s not just sun, sea, and golf swings... but a sensible investment. For more information, contact .
A family-run business, since 1970, offering the full range of traditional agency services
30 highly skilled professionals speaking 14 languages
Two prestigious offices on Marbella’s Golden Mile
Highest qualifications, regulated by the Royal Institution of Chartered Surveyors
952 822 111 info@panorama.es panorama.es
Time to get legal!
The real estate sector is facing a big labour shakeup with fines being slapped on big firms like Engel & Volkers, writes Adam Neale
OVER the last two years, the relationship between real estate agents and agencies in Spain has come under intense scrutiny.
“
Labour inspectors have increasingly targeted socalled ‘autonomos falsos’ – workers classified as self-employed when in reality they are full time employees.
This misclassification has allowed agencies to swerve social security contributions, but effectively maintain an exclusive relationship with the worker.
The new government crackdown is part of a wider fight against casual work practices, with delivery riders and drivers the first to have been targeted.
been subject to audits, fines, and forced regularisation of workers with penalties ranging from €3,750 to €12,000 per agent, plus up to four years of unpaid social security contributions.
IMPORTED BUSINESS MODEL
“ Spanish law is clear: for an agent to qualify as truly selfemployed, they must set their own hours
Real estate is now firmly in the inspectors’ sights, with Valencia leading the push.
Since 2022, agencies there have
Traditionally, agents were employees, but with the arrival of international firms – particularly in hotspots such as the Costa del Sol – the American model of commission-only freelancers took root. This has led to confusion and, in some cases, outright abuse. Spanish law is clear: for an agent to qualify as truly self-employed, they must work independently, set their own hours, provide their own tools, and bear their own business risks. They cannot be managed, scheduled, or supplied with company
equipment.
Yet inspections have revealed many agents sitting at company desks, working fixed hours, using office computers, and even following holiday rosters. By contrast, genuine freelancers may represent multiple companies, control their own methods, and work without company oversight. When dependency exists, the relationship is deemed employment –meaning agents are entitled to the protections of country laws. That agreement allows for commission-based pay but guarantees a monthly minimum salary and ensures commercial staff receive at least 5% of net fees.
INDUSTRY AT A CROSSROADS
Agencies now face a stark choice: employ staff properly, or restructure contracts to meet the legal test for self-employment. Some have resisted the change
complaining about the added costs of social security deductions, while a handful of top-earning agents prefer uncapped commission structures.
But these high-flyers are rare. For most agents, the current system creates churn.
Agencies recruit large numbers during boom times, discard underperformers
The Property Insider
by Adam Neale
at no cost, and pocket the benefits.
Critics argue that formalising the sector would not just protect workers, but professionalise the industry.
Incredibly, Spain still has no national licensing requirement for estate agents.
In Catalunya, training and certification are compulsory, but in regions such as Andalucia, anyone with a business licence and a phone can set up shop. The lack of standards – combined with commission-only pay and hefty freelancer contributions – creates a perfect storm. Agents are understandably tempted to cut corners or mislead clients to close sales.
fines have made headlines.
In August this year, Engel & Volkers was hit with €6.4 million in penalties for misclassifying 569 agents in Valencia.
While a multinational can absorb such losses, smaller firms could be bankrupted.
WHAT COMES NEXT?
Inspectors are unlikely to ease off. In 2023, the Labour Inspectorate received a 41% funding boost, allowing it to expand investigations.
Around 40% of agents are believed to be freelancers
Illegal practices, such as charging tenants finder’s fees despite government bans, remain widespread.
FINES FOR ENGEL & VOLKERS
Some firms, however, have taken a different path.
At my firm, Terra Meridiana, for example, our sales staff have been employed since 2003.
We believe in a level playing field where all competition follows the
same rules and pays the same contributions.
Even industry bodies are beginning to shift. In spring 2024, the Federation of Real Estate Companies (FADEI) met with the National Anti-Fraud Office to discuss clearer guidelines and compliance.
The move signalled recognition that enforcement would not go away. And for good reason. High-profile
With food delivery cases largely resolved, real estate is now front and centre. Around 40% of agents are believed to be freelancers –some estimate, far more – and Spain has about 100,000 agency workers in total.
That leaves huge scope for further crackdowns.
The implications are clear. Agencies that need to direct and manage their staff must employ them.
Those that want independent contractors must allow them true autonomy – no company equipment, no fixed schedules, no dress codes.
Otherwise, they risk devastating fines.
Ultimately, professionalisation benefits everyone. Employment contracts encourage agencies to invest in training and discourage agents from bending rules to make a quick sale. A more accountable sector could also improve Spain’s reputation in the international property market. The shake-up may be painful in the short term. But with inspectors determined, agencies will have to adapt.
And those that embrace compliance and professionalism could come out stronger – while those clinging to old habits risk being left behind.
WATCH OUT: The authorities are on the case of agencies breaking the rules
Financial Planning Seminar
For Expats based in Málaga
Key Insights:
• Inheritance Tax Changes & UK Pensions
• Smart Investing for Spanish Residents
• Strategies for Volatile Times
October 3rd 2025
9:30am - 12:30pm followed by a complimentary lunch
SALLÉS HOTEL MÁLAGA CENTRO Mármoles, 6 · 29007 Málaga
Limited Seats – Register Today
Email: admin@opesfidelio.eu
Web: opesfidelio.eu/spain25
WINNING AGAIN: ARE TENS OF THOUSANDS OWED TO YOU?
IT was yet another giant victory over the banks for Marbella lawyer Diego Echavarria in the courts this month.
Handing his clients a €16,000 cheque in their battle against Sabadell bank was ‘yet another proud moment’ for the bilingual brief.
The Madrid-born boss of Fairway Lawyers won Peter Cooper, from Fuengirola, the healthy sum in a one-off payment.
“He got it after we found that he had a floor clause inserted into the mortgage he needed to buy a property in 2005.
“He had literally no idea that for many years the rate never went below 3%, even when interest rates dropped to nearly zero.
“To say he was overjoyed with the payout is an understatement.
The key points
● Was your mortgage acquired between 2000 and 2010?
● Payments were the same amount for often many years.
● Despite paying off the mortgage and even selling up you can still claim
● There is no deadline since the latest ruling from TJUE (Tribunal de Justicia de La Union Europea)
● Fairway Lawyers acts on a No Win, No Fee basis
“It was a giant gift for his family, who are planning a big holiday this Christmas and a new car.” The battle against Sabadell came after the British family took on Fairway Lawyers in a ‘no win, no fee’ deal three years ago.
While it wasn’t a quick process, Diego admits, it is just a matter of doing things by the letter of the law.
Leading lawyer beats Banco Sander again and believes there are thousands still owed big bucks, plus compensation over shameful ‘floor clause’ mortgages
“You just need to be diligent and cross the t’s and dot the i’s,” he explains.
Having taken on and won over three dozen cases over the last decade, he has become probably Spain’s number one legal specialist on the so-called ‘Floor clause scandal’.
The scandal stems back over two decades when many Spanish lenders secretly insert ed a clause in their clients’ contracts that ensured interest rates could not drop below 3.5% or 3%.
This was called the ‘floor clause’ and when for a decade, between 2011 and 2021, the interest rates in Spain sat at a record low, between 0% and 1%, they did not benefit.
It meant hundreds of thousands of peo ple spent years paying usually hundreds of euros more per month above what they should have paid.
Diego (right) estimates that tens of thousands of home owners - over half of them British - could be owed €50,000 or more in compen sation.
“The average is likely a little lower, but whatever happens they are owed money and with interest on top,” he explains this
“It was a really shocking abuse of legitimate trusting clients and the banks were very crafty,” he adds.
“I have spent years exposing these hidden clauses inserted into their mortgages.
“And there are around 100,000 mis-sold mortgages that have yet to be resolved in Spain.”
He explains that most banks, including La Caixa, Sabadell and Banco Popular, used such clauses.
“And it will only take me a few minutes to work out what you have paid and what you are owed today,” he continues.
Over the last year he has had a series of payments, including one for €21,075, plus legal costs, in Mijas, and another for €48,359 for a British family, the Brighouses in Estepona. In one urbanisation in the Malaga resort, Mirador de Costalita, he has four happy clients alone.
The huge golf lover, who named his firm after the sport, added: “It always involves lots of legal letters being sent and it’s a bit of a game, to be honest.
“Luckily I know all the tricks and how the banks try and slow things down.”
He currently has ‘over 100 clients’ he is working with around Spain, most of them expats, who became victims, but also some Spanish buyers.
“I am handling cases all over the country and travel around the place all the time” he adds.
If you want to claim for a mis-sold mortgage - NO WIN, NO FEE - or feel you may have been affected, contact diego@fairwaylawyers.com or send a message via
Sense of style
As it reaches its tenth birthday, Jon Clarke runs a rule over the Portuguese spa hotel - the country’s most expensive - where even the lift shafts are cool thanks to the views and furniture
WHEN leading Asia hotel
chain Six Senses decided it needed an outpost in Europe, to show off its incredible eye for detail and how to look after guests in the most sustainable way, it didn’t opt for the obvious places like the south of France or the Balearics… even a key European city.
The group, which launched in Thailand and Vietnam in 2004, unearthed an extraordinary 19th century wine estate on the bend of the Douro river some 100 km inland from the city of Porto en route to Spain.
By acquiring this obscure family-run vineyard and hotel they could quietly go about their business turning it into probably southern Europe’s most beautiful rural escape and
By Jon Clarke
with a price tag to match, it now being Portugal’s most expensive hotel.
With an ethos geared around local organic produce, sustainability and wellness, when their first hotel in Europe opened in 2015, the group rapidly stole a march on this rapidly growing inland rural sector of tourism.
Since adding the obligatory statement hotel in Ibiza (see Olive Press review) and a spa in Marbella, they have continued to grow globally into spots like the Maldives, India, and now even America. In Europe they also count on Courchevel, Crans and Rome.
it is anything but grand, particularly if you arrive via the bottom road close to the river, along an ancient cobbled track lined with rows and rows of vines from a string of local estates.
The hotel eventually comes into view surrounded by woodland and a sea of vines clamped to every available terrace within five kilometres of the place.
It’s something of a pile but fairly in keeping with the local vernacular… as you’d expect from a 200-year-old bodega.
UPLIFTING: Waiting room by the lift shaft
at in Europe (more of which later), we head out into the grounds, for this is perhaps, the real key to the success of the place.
And while I’ve only previously visited Ibiza, the arrival at the Six Senses Douro Valley is so breathtaking it’s unbelievable.
Low-key luxury at its best,
There’s a pointed stone steeple, a charming Italianate loggia, stone pillars and unusual stone windows that turn out to be more recently installed. The burgundy walls match the wine-making tradition, while the local Portuguese pantiles complete the composition.
The understated sense of arrival is accentuated by our receptionist David, now in his fourth year, and carrying an incredible knowledge about the area and wider group which now has 27 hotels around the world.
He tells us a bit about the aristocratic family, who reluctantly sold up in 2001 to become a boutique hotel that was sadly ‘before its time’, a bit too modern and pricey, by all accounts, for the region, prior to the budget airlines arriving in 2013/14.
Once guided to our suite, which is among the most stunning I’ve stayed
Enveloped by a copse of mixed woodland, the wondrous mature gardens cascade down many levels, right down to the river, in fact, where there is a pontoon and naturally paddle boards and other exciting craft ready to be used by guests.
(Note to self: next time arrive by river!)
Exploring the woods, then formal gardens is joyous. Each section is divided by myrtle hedges, rusted iron walls clad in ivy or other climbing plants, pleached fruit trees, green walls and lines of rosemary set up high in original horizontal planters.
There are evocative openings into olive groves, vegetable gardens with avocado trees and a more formal garden of pergolas, which gives a sense of both privacy and space. Don’t miss
INTERVENTIONS: There are plenty of modern additions to the 200-year-old estate, but it keeps its integrity thanks to design guru Clodagh
the steps up to a grotto cave where fresh spring water trickles out. It’s hard to imagine a more natural setting for the swimming pool with the green Douro valley on one side and an entire slope of vines on the other, while the guests who sit around it are, unsurprisingly, among the world’s most successful movers and shakers. Think White Lotus meets Love Island, at least as far as physiques go. I loved the easy pivot to the pool bar restaurant, just a cat’s swing away, a calming spot awash with sea green and terracotta cushions on natural undyed linen sofas.
The ‘snack menu’ is equally easy, light and minimal with a bent towards healthy eating…they call it the ‘Tasty Stuff’ and it has two types of gazpacho, one a delicious strawberry number with a king prawn tartare sliced up in the middle.
A trio of salads, one from their vegetable garden with grilled pickled carrots, courgettes and almonds is a surefire winner, while the line-caught sea bass ceviche was spicy and prepared to perfection.
The free-range chicken is also a delicious, if slightly scrawny leg, cooked on the grill with a strange sprinkling of local cheese on top.
Portions are extraordinarily small, which no doubt suits the young attractive couples, half of them honeymooners at a guess, who seem to spend most of the day luxuriating by the pool.
The wine tasting, open to all guests and strongly recommended, starts each evening at 6pm - and comes with snacks and a cool wine tasting notebook, plus a superb carved wooden wine map of the region.
It’s highly instructional, and leads nicely on to our evening meal in the main restaurant, which again is style personified thanks to the incredible eye of oddly, an Irish interior designer, now in her mid 80s, based in New York called Clodagh. Described as
Think White Lotus meets Love Island, at least as far as physiques go a ‘pioneer of green design’ she found her vocation living in Spain in the 1970s. So much of what makes the Six Senses Douro wonderful can be put down to her. An extraordinary woman, I love the lamp made of wine bottles and the farm implements on the wall, plus close up photos of terrain. I also love the sauna (above left) that looks out at the
landscape and the hanging chairs to enjoy the view from the lift shaft lobbies. I literally wouldn’t have minded spending a morning there with a good book. Next we bowl along into the main restaurant, which is full of natural materials; textiles, wood and stone, all thanks to Clodagh, who utilised hundreds of blown up photos of the finca from years gone by - plus wonderful photos of its owners (grandchildren roller skating, grandma on her mare etc).
The hessian and wooden beam ceiling and blue and white striped lined chair covers sum up the attention to detail. Also keeping with its wellness philosophy there are lots of vegetarian and vegan dishes, such as grilled ‘hispi’ cabbage - with smoked goat butter, lime pickles, hollandaise and peppers…what a dish ! Succulent, creamy and smoky, all done on the grill.
There are also ‘heirloom’ beets with a coconut labneh and pickles and green strawberries, while seasonal organic asparagus with saffron and lemon was more to my flavour.
Meat eaters were not entirely ignored and there was a splendid handchopped pasture fed beef tartare, while the line-caught sea bass and Algarve pink prawns made the table.
Once again, it’s worth mentioning these were no huge American size portions, but minimalist and much more importantly packing flavour.
And finally it was off to our suite, which counted on the most amazing east-facing terrace from where I lay the following morning on a giant day bed marvelling at a wall of vine terraces, literally line after line of bright green tendrils, just weeks, or even days, from being denuded of their grapes in the autumn harvest.
November 29thDecember 12th 2023
There are so many special touches, such as a secret drawer by the minibar which opens to not just tea bags BUT sachets of fresh tea leaves while at night the fairies leave bottles of fresh water all around. Meanwhile a jar of sea salt and a loofah have been thoughtfully left beside the bath, while all the products are in classic blue and white Portuguese porcelain.
The TV is cleverly hidden by a sliding painting and if there’s anything else you need or don’t understand, an iPad
on the wall immediately connects the guest to a live chat system, where you can ask for anything you might need.
“I promise you it’s not an AI assistant,” explains David. “So please don’t swear or try and confuse it because it will be one of our team trying to help”
It was this way I found out about the tea drawer but a sign of the times, when I ask for a copy of a British newspaper, the reply was only: ‘We will need to find out how to get one.’ They didn’t.
Finishing on a positive note, the breakfasts are as much as possible, cooked in the wood oven, even including pancakes … which are extraordinary! Fresh plums, crème fraiche and icing sugar. Don’t stay for just a night. Stay for a week, or a month, that is if you’ve got a spare €50,000.
Rooms start at around €1400 a night. Visit www.sixsenses.com for bookings and information.
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GREAT LOCATION: The Six Senses Hotel is tucked away in the Douro Valley
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