17www.theolivepress.es the Olive Press November 11th - 25th 2015

olive pressthe

ropertywww.theolivepress.es January 20th - February 6th 2016

P

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HiFX Europe Limited Sucursal en España is a branch of HiFX Europe Limited. HiFX Europe Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 462444, for the provision of payment services.HiFX Europe Limited Sucursal en España is a branch of HiFX Europe Limited. HiFX Europe Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 462444, for the provision of payment services.HiFX Europe Limited Sucursal en España is a branch of HiFX Europe Limited. HiFX Europe Limited is authorised by the Financial Conduct Authority under the Payment Services Regulations 2009, registration 462444, for the provision of payment services. Don’t let the banks cash in! www.hifx.co.uk

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Mark Stucklin on the year Spain left the crisis behind

Page 18

Eco triumph for Valdevaqueros beach in Tarifa

Page 19

Olive Press Prop-erty Observatory launches

Page 20

A run down of Spain’s top eco-friendly pads

Page 24

IT is set to become one of the most ex-clusive golf development projects in Europe.The purchase of emblematic Valderra-

ma golf course by Marbella development company Zagaleta is the fusing of two prestigious Spanish giants.A new mega-project, taking in 200 hect-ares of rolling virgin hillside near the fa-mous golf course, is the perfect sign that the Spanish property market is truly flour-ishing again.Zagaleta, just outside Marbella, is Spain’s most luxurious residential development, counting Hugh Grant and the mayor of Moscow among its residents, while So-togrande-based Valderrama hosted the 1997 Ryder Cup as well as the now de-funct Volvo Masters.Developers Zagaleta Limited, based in London, have purchased the Valderrama group, including the golf course, as well as the new land in neighbouring Castellar municipality.In an exciting deal, said to be worth €40 million, Zagaleta has become the new landlord of Valderrama Golf Club, until at least 2050.Alongside the deal, Zagaleta is to invest a further €200 million creating a new complex - dubbed Valderamma 2 - with a second championship course, hotel and around 100 high-end properties.

Spain’s property comeback continues as €240m mega-fusion sees Zagaleta buy the Valderrama group, writes Iona Napier

Local agent Ben Bateman, of Holmes Sotogrande described the deal as ‘a very interesting fusion of two famous brands.’The agent, who has known about the sale for some time and even shown potential clients around the course, added: “The quality of Zagaleta is integral here, and given the new ownership of Sotogrande

itself, it’s very exciting news for the whole area.”Fellow agent Adam Neale of Terra Me-ridiana added: “It is surely win win for the coast.“You are going to get a whole new net-work of high-end clients looking there.”Security is set to be a major factor in the

development, while quality of construc-tion will also be paramount.At Zagaleta, in Benahavis, near Marbella, homes currently start from around €3 million.An incredibly secretive place, once owned by arms dealer Adnan Khashoggi, its own-ers are said to have included Rod Stewart

and even President Putin of Russia.The project will unfold over the next de-cade, and La Zagaleta group has ex-pressed its willingness to collaborate with the Real Club Valderrama, to preserve the privacy and exclusivity that the brand has built up over many years to become a Eu-ropean landmark.

It is surely win win for the coast.

A very interest-ing fusion of two famous brands.

‘‘

“ “

“

Mega-fusionPERFECT MATCH: Zagaleta (top) meets Valderrama (below)

Ben Bateman, Holmes Sotogrande

Adam Neale, Terra Meridiana

Tel: +34 951 203 986 costadelsol@hifx.co.uk

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18 www.theolivepress.esthe Olive Press November 11th - 25th 2015Property www.theolivepress.es January 20th - February 6th 2016

Beach bidA PRESTIGIOUS and rare beachside development plot being auctioned off in a fire sale is a long way from reaching its asking price of €4.8million.The land, in Manilva, was seized from disgraced company Forum Fila-telico, which swindled 270,000 people in a bo-gus stamp investment scheme.However, so far the 17,543 square metre plot - valued at €17 million - has only re-ceived a bid of €150,000.

Strength to strengthUK construction giant Taylor Wimpey sold over 15% more properties in 2015 than the pre-vious year.and of the 270 properties sold in Spain, the average price was €315,000, a big jump up from €250,000 in 2014.“This year should also be another great year,” Ignacio Osle, Taylor Wimpey’s regional director for andalucia, told the Olive Press.

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New vs. resaleOnce again the market growth in No-vember came from the resale busi-ness, up 33% year-on-year, compared to a 28% decline in new home sales. Resales now make up 80% of the mar-ket, down from parity at the start of 2014.The home building business in Spain is slowly coming back to life, but this trend of growing resales and declin-ing new home sales will continue for some time to come.

Regional marketsOut of a selection of regions most rel-evant to foreign investors, Barcelona enjoyed the highest growth in sales in the first 11 months of last year, up 20% compared to the same period in 2014, followed by Valencia (+15%) and Cadiz (+15%).

House pricesSpanish home sales were clearly up last year, but the picture was less clear when it came to house prices. The latest data shows prices more or less stabilised in 2015. Figures from Tinsa, a leading appraisal company, says the average price rose 1% last year, while the asking price index from Idealista shows the average price down 2%. Location made a big differ-

ence, with prices rising the most in Barcelona (+8.7%), but hardly budging in Valencia, up just 0.6% in the year.

Looking aheadThe trends in home sales, mortgage lending and house prices all look posi-tive for the year ahead, especially in prime city areas and resort towns in coastal areas. It is likely that sales and prices will continue to increase in those areas, with new home building making a comeback as well.

However, risks remain, especially in areas that depend more on local demand, as the Spanish economic recovery still looks fragile, and politi-cal uncertainty is now part of the mix since a recent general election failed to deliver a working majority to any party. Foreign demand could be af-fected by a weaker pound taking the wind out of the British market, or by clouds gathering over the global economy. On the other hand, the in-creasing perception of risks around the world could work in Spain’s favour, making it look like a safer bet for tour-ists and second-home investors.

Mark Stucklin runs www.spanish-propertyinsight.com, a property

information website

Leaving the crisis behind Spanish property pundit Mark Stucklin

looks back at 2015 as the year that restarted the country’s property market

WITH one month to go before the full year figures are in, it’s already clear that 2015 was

the year the Spanish property market bounced back to life af-ter seven years of crisis.There were 25,979 home sales inscribed in the Prop-erty Register in November (not counting subsidised housing), up 15% year-on-year, and much higher than the 4% growth in sales recorded in October, suggesting that the

market expansion is back on track for now.

On an annualised basis, home sales increased every month

in the year to November, with an average monthly growth of 12%, according to figures from the National Institute of Statis-tics (INE). In the first 11 months of the

year, there were 293,100 home sales, up 11% on the same period in 2014, when the market bottomed out.

18

19www.theolivepress.es the Olive Press November 11th - 25th 2015 19www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es January 20th - February 6th 2016Property

a MaSSIVe police operation has successfully evicted 70 squatters from an abandoned Marbella urbanisation.Tensions threatened to boil over as 24 families, includ-ing 20 children, were forced out of their homes in Nueva andalucia.The eviction took under an hour, with police sources saying

ONe of andalucia’s sharpest real estate salesmen has proved that an incredible autumn selling streak was no fluke. Inland andalucia’s in-form agent Paul Barnett - who sold nine prop-erties in a row from September - has started the new year with a bang, completing four sales in a

fortnight.and the boss of his Mollina-based agency, graham govier, insists his form shows no signs of changing.“To have already bagged four sales this year shows real dedication,” he told the Olive Press. “It would take something special to eclipse the nine in a row, but you

never know with Paul. “He puts the hours in and is re-warded for it. While other agents went skiing or on holiday, Paul has kept at it.”For the record he has sold three town houses in Mollina, and a fourth in Marchena, in the Sevilla province.

NEWS IN BRIEF

Squatters outPolice evict 24 squatter families after court orders them out

By Rob Horgan

NEWS IN BRIEFProperty

AN Englishman is aiming to make

it an unprecedented 10 out of 10.

Following in the footsteps of Pre-

mier League marksman Jamie

Vardy, is Inland Andalucia’s very

own sharp shooter Paul Barnett.

After bagging an unprecedented

nine straight property sales in a

row, Barnett will be the envy of

estate agent bosses across Anda-

lucia. And he could make it a per-

fect 10 with a decision imminent

on yet another potential purchase

YOUR AVERAGE JUANFORGET turrets and drawbridges, the average dream Spanish home is a

four-bedroom affair, with a garage and set in a modest 120m2.

While a massive 64% of Spaniards in a European survey demanded a

garage, just half prioritised a terrace and 47% required green spaces

nearby.Brits meanwhile are happier to live in shoeboxes, with their ideal home

measuring 80m2, while the average Portuguese opted for a larger 211m2.

Europeans, in general, favour five bedrooms, the RE/MAX survey re-

vealed.

On cloud nine!Expat salesman ties up

‘unheard-of ’ nine home

sales on the bounce... and he could be in for a tenth!

EXCLUSIVEBy Rob Horgan

in the inland Malaga area.

His boss Graham Govier said in

his 15 years in charge of company

Inland Andalucia no one agent has

ever come close to Barnett’s cur-

Properties making Paul so happyClient Name

1. Francisco & Antonia

2. Sean, Caroline & Thomas

3. Trudi4. Tony & Louise5. Victor & Cheryl6. Murial7. Jeff & Chrissie8. Mark & Lorraine9. Pillar & Jesus

10.? Peter & Patricia

Type

TownhouseCortijoVillaTownhouseVillaTownhouseTownhouseVillaVilla

Townhouse

Town, Region

Fuente de Perda, Malaga

Iznajar, CordobaPuente Genil, Cordoba

Encinas Reales, Cordoba

Lora de Estepa, Sevilla

Villanueva de Algaidas, Malaga

Casariche, SevillaMarchena, SevillaCasariche, Sevilla

Molina, Malaga

Price

€ 75,000€ 87,000€ 185,000€ 79,000€ 125,000€ 45,500€ 36,000€ 32,000€ 139,000

Pending

rent streak. “It is an unbelievable feat,” Govier

told the Olive Press. “A one-in-

three viewings-to-sales conver-

sion ratio is deemed good busi-

ness, so to tie up nine on the spin

is truly unheard of.

“Not even in the heady days of the

Costa boom did anyone come near

to that.“I think a pick up in the property

market, a return of foreign buyers

to Spain along with the improved

online viewing system we have in-

troduced have all contributed to

his success.” He added: “But let’s not take any-

thing away from him. Paul is one

of the good guys, a real old-fash-

ioned salesman.

“ H e d o e s things the proper way, gets to know the buyers and doesn’t use any tricks to sign them up. “He deserves his suc-cess and I’m sure with all the commis-sions coming in he will have a pretty good Christmas.”

Quarter pounderSPANISH house prices rose by

6.6% in the third quarter of 2015,

with over 92,000 transactions tak-

ing place, representing the highest

result of the last 10 quarters.

Renters buoyed TENANTS in Spain continue

to get a good deal, with rent-

al costs on the slide. A 1%

year-on-year decline in Oc-

tober represents 31 straight

months of decline in the

rental sector.

Payment planTHE average Spanish mortgage

costs €760 a month, with 75% of

loan repayment terms set over

30 years, according to bank

Goldman Sachs.

Holiday homesSPANIARDS have €9.2 billion-

worth of properties overseas, half

of which are in the UK, France,

Germany and Portugal.

Retail therapyREAL estate investment firm

AEW Europe has launched a

European retail fund aimed

at investing up to €800 mil-

lion in top tier cities, includ-

ing Madrid.

www.theolivepress.es November 26th - December 9th19

Four in a fortnight!

it was a ‘resounding success’.Despite threats of protest, police sources told the Olive Press that all those being evicted came out ‘peacefully, without a fight’.“There was absolutely no problem with the evictions,” the source said. “everything went smoothly, the squatters collected their belongings and left without any issue.”The police swoop was court-

ordered after a three-year legal wrangling, which saw two previous attempts thwarted by protests.At least 20 police officers and up to a dozen security guards were involved in the evictions.The occupants – Moroccan

and Spanish nationals – had been squatting in the aban-doned houses in the Costa es-trella urbanisation for at least three years.Legal proceedings began when CajaMar – which owns the properties – decided to sell-off 26 of its abandoned properties.Despite protests, Marbella court ordered the evictions to take place.The families said they have not been given a solution or alternative housing plan and will be ‘left on the street’.Olive Press sources suggest-ed that Marbella Town Hall had been trying to postpone the eviction until alternative housing had been arranged.

FORgeT the golden Mile, there’s an ice-cool new property destination which doesn’t have a postcode, let alone an electricity grid, water supply or road net-work.and there is one other issue, it is not on earth, but high up in the sky.Yes, you can now buy an as-teroid, the kind whizzing around the sun at 25km per

out oF thiS worLdsecond.US President Barack Obama has passed a law which recog-nises the right to own aster-oids, encouraging the com-mercial exploration of space resources.“This is the single greatest recognition of property rights in history,” said eric ander-son, co-chairman of compa-ny, Planetary Resources.

“This legislation establishes the same framework that cre-ated the great economies of history, and will encourage the sustained development of space.”experts predict the landmark Commercial Space Launch Competitiveness act will be looked back on as establish-ing a ‘permanent foothold in space’.

Decision at last MARBELLA is finally mov-ing towards a resolution of its urban planning crisis after months of uncertainty. The town hall has decided to adapt the 1986 PgOU urban plan to avoid a standstill of the recovering construction industry.When the supreme court scrapped the 2010 general urban plan two months ago, over 10,000 homes were in danger of being illegal and the property sector was at risk with hesitant investors.The decision, which includes several changes to the 1986 plan, follows two months’ analysis which concluded it was a necessary stopgap while the new PgOU is created.The process could take sev-eral years.

19

tariFa Saved!

IT was one of the most barbaric and badly-planned developments of the last decade.a scheme to build thousands of homes alongside a virgin beach in Tarifa has fi-nally been outlawed for good.In a massive victory for the environment, the town hall-supported Valdevaqueros

project has been officially turned down by the european Commission.a letter from Brussels’ environment chief to Verdemar-Ecologistas en Accion confirmed no development projects would be permit-ted for the pristine Costa de la Luz beach.The Junta has already insisted that the

Growing upJUST 20% of under 30-year-olds in Spain live away from their parents, a survey has re-vealed.Men are least likely to fly the nest with just 17% leaving home before 30, versus 26% of wom-en. Some 93% of Spaniards live with their parents until the age of 25.

development should be scrapped, with all ‘natu-ral spaces’ on andalucia’s coastline needing to be protected at all costs.The definitive answer is a triumph for Verdemar, which has campaigned continually against the scheme for over four years.The Olive Press also backed the campaign, even splashing on Tarifa’s mayor’s attacking ‘expat troublemakers’ who he claimed were behind the sinking project.

Licence to buildMaRBeLLa town hall has approved building licences worth a total of €6.4 million, spelling progress for the construc-tion sector despite the ur-ban planning crisis.

hot hotelsMADRID is surging ahead of Barcelona in terms of hotel invest-ments. Last year saw Madrid take the larg-est market share with €582 million invested out of Spain’s total of €2,614 million.

Flat outA TOTAL of 37,497 apart-ment builds in Spain were completed in the first ten months of 2015, 5% less compared to the same period the previous year.

on the riseTHe average price of housing in Spain rose by 1% last year, with the highest increases in Cataunya (5.3%), Madrid (3.3%), and the Balearic Islands (2.7%).

UNSPOILT: Valdevaqueros beach and (inset) map of planned development

20 www.theolivepress.esthe Olive Press November 11th - 25th 2015Property www.theolivepress.es January 20th - February 6th 2016

A new Olive Press Property Observatory has analysed what’s hot in property for 2016. Our panel of experts looked at key issues that continue to affect the market this year, writes Joe Duggan

a year of growthand more arab and US buyers

THE inaugural Olive Press Property Ob-servatory drew together some of the Costa Del Sol’s most respected real estate experts to discuss the market

and make forecasts for 2016. With the Costa del Sol’s property market continuing to grow, our panel of experts, including agents, surveyors and lawyers identified trends for 2016 and predicted possible pitfalls.Among the topics discussed were price

rises, nationalities buying, corruption, town planning, PGOU issues, the fusion of Zagale-ta and Sotogrande’s Valderrama golf course and the Olive Press’ very own kickbacks campaign.On the panel this month were: Alex Radford from My Lawyer in Spain, Marbella agent Kristina Szekely, Scott Marshall from Prop-erties Spain, Adam Neale from Terra Meridi-ana, mortgage expert Tancrede de Pola and Campbell Ferguson of Survey Spain.

PANEL: Olive Press publisher Jon Clarke with some of the experts

SPECIALISTS: (From left) Radford (AR), Szekely (KS), Marshall (SM), Neale (AN), De Pola (TDP) and Ferguson (CF)

20

21www.theolivepress.es the Olive Press November 11th - 25th 2015 21www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es January 20th - February 6th 2016Property

Property growth to continue Prices up in Marbella driven by Madrid and Barcelona2015 saw growth of 5% or more in the Marbella and Benahavis areas and prices started going up in the second half of the year. The trend will continue in 2016.

- Russian investment down- Arab investment up- US and European investment to remain steady

Geopolitical issues such as oil prices, terror-ism and a fluctuating world economy have a significant impact on Costa del Sol buyers.

TDP: Norwegians have big buyers until 2014, due to their wealthy, oil-based economy. Last year, with the oil price collapse, they were large-ly replaced with Swedes, Danish and Finns. The market from the USA, Canada, the Gulf States and Kuwait remains strong.

KS: I agree. I think America will be a growth area because American funds are buying up big prop-erty developments here. One American I have been dealing with is going to take a house in Granada for a year. Quite a few more are sniffing around.

AR: The Russians are certainly drying up due to problems with the Ukraine war.

- Excellent news for Sotogrande- Zagaleta looking to future- Initial issues for nearby areas during construction

AN: It’s fantastic and great for Sotogrande. You are going to get a whole new network of high-end clients looking there, hopefully. It is surely win/win for the coast.

AN: I think it’s pretty brave of them. They have still got land to develop in the second phase of Zagaleta, so this is a big departure. That said they have had a very good last two years.

AR: I think it’’s very positive news. I agree with Adam, they are looking for more growth down the line, when they’ve sold all their proper-ties. There are only so many people who can buy multi-million villas up there. Will they do it cheaper or similar prices?

AD: The concept of Zagaleta is quite unique. There are country estates that you can’t really regulate anywhere. Madronal doesn’t really have the security, with five different entrances.

AR: Valderrama having the golf heritage is very good.

CF: One issue though is that it will blight areas near the construction for a few years and add competition for sellers of existing properties.

AR: A recent survey said average house prices in Spain have increased 2.9% between Decem-ber 2014 and December 2015, and by 1.1 % in the last six months. That’s across Spain, driven magnificently by Madrid and Barcelona and it’s positive. Generally, across the board, prices have stopped falling. They are definitely going up in Marbella.

KS: I think prices are going up, but not very fast. Above all, they stabilised in 2015 and it became the year when people stopped asking me ‘When will the crisis stop?’. In the latter part of 2015,

prices started to go up. This will continue in 2016.

TDP: Yes, I agree, with prime areas on the Cos-ta del Sol beginning to see distinct shortages of supply it was only inevitable that prices would go up and we definitely saw evidence of this during 2015.

SM: I definitely saw growth of between five and 10% last year and I expect more of the same this year

KS: My figures were similar for sure.

GROWTH AREAS AND TRENDS- Marbella to continue growth, while western Costa and Axarquia to also grow- Exchange rates to affect 2016 trends- Modern properties in demand

TDP: We have noticed that a lot of the new building is taking place in the prime areas of the Costa del Sol so, on that basis, you would expect very good growth in the areas surround-ing Marbella.

CF: Yes definitely… and all the way to and including Sabinillas (Manilva).

SM: If I was a builder I would

go to Axarquia.

AR: Yes, the Axarquia. Nerja area is also prime property. It’s the Marbella of the East.

AN: Marbella is a brand that sells around the world; Este-pona isn’t. Benahavis isn’t. The problem is that brand has been tarnished to a certain extent by the PGOU ruling and that is go-ing to cause problems. People

want to be in Marbella, near Banus, and there’s no land left.

KS: I think modern properties are still very much in demand.

SM: There is always a scare with people who want to build from scratch. There is always a horror story in Spain. My cli-ents generally prefer to buy something that is brand new but already there.

PRICES UP FOR 2016

NATIONALITY TRENDS

GROWTH: Nerja and the Axarquia will grow in 2016

AN: I think with Russians, they want to buy but they can’t. We have certainly had a big increase in French buyers, and the Scandinavian market is huge. The French buy here because of the tax regime in their country I believe and because its so much cheaper than the south of France.

KS: There is also still a lot of turmoil in the Arab world and they like the idea of of a home in Spain to come to. For this reason I think the Middle Eastern market will get stronger and stronger.

SM: Yes, we have also seen growth from the Mid-dle East and it will continue to be strong. And where I have seen a massive increase - the third or fourth biggest in number of buyers - is the UAE.

CF: I agree. Marbella has long had a Saudi link, so there is Sunni interest, but little from Shia. But it only takes one major terrorist incident and all buyers will have second thoughts.

AN: The British market is also definitely going to remain strong. It has been growing very nicely

SM: Yes, that is definitely the case.

AR: In terms of British buyers, I don’t think Brex-it (the UK leaving the EU) will make a blind bit of difference so long as the euro remains weak, the property market should consolidate. What really pushed the market last year has been the ex-change rate and prices hitting the bottom.

ZAGALETA FUSION WITH VALDERRAMA

Continues over on page 22

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PGOU MESS IN MARBELLA Uncertainty caused by Supreme Court ruling could take years to resolve PGOUs throughout Spain are not safe

SM: It is a big mess, but I would say given it is the same political party (the PSOE) in at the Junta and in Marbella, it could take just a year to sort it out.

AN: No way, it will be five years or more. They are going to have to go through the whole process again. They have to revise everything and give the public the chance to debate the changes.

AR: It means the only town plan standing is 1986, it’s ridiculous. The politicians should work harder to get this sorted out. They have to make the whole process a lot more agile. It’s such an important part of the future of Marbella.

TDP: Yes, the PGOU issue has definitely created a great deal of uncertainty, not least, among es-tate agents and their clients. However, thus far,

the banks are continuing to value properties as before and work on the basis that this is an issue that will be dealt with.

CF: Some properties will be paralysed and the bad publicity regarding that will affect some demand. No professional will be able to guar-antee that any property younger than 1986 is completely safe. That said, no PGOU in Spain is safe until all appeals have been to the Supreme Court, and that will certainly be the case for Mar-bella's new plan.

AR: There is paralysis in the town hall. They are going back to a plan that was drafted 30 years ago.

AN: At least it was a very good plan. There are plots which have more build volume than before and it is certainly fairly green and low rise.

Property www.theolivepress.es January 20th - February 6th 2016

- The Olive Press campaign has been a success- Backhanders from Urbanisation Administrators and Presidents a problem- Corruption needs to be stamped out

The Olive Press launched a campaign to highlight the practice of lawyers giving estate agents backhanders of up to 20% for working on conveyance deals.

AR: I think the Olive Press campaign is great. It’s an un-fair practice that needs to be stamped out.

KS: I agree, and always make a point of saying we don’t want money from architects, or lawyers, or anyone. I won’t take money from these people. It’s their job and they have to do a good job and that’s the end of the story.

AR: I went to see an estate agent and he showed me a pile of lawyers card is and said, ‘Would you give us com-mission?’ I said ‘no’ and he said,’That’s your card at the bottom then’ and put it there’. I walked out. The agency still exists.

CF: You need to also look at backhanders from building contractors to lawyers, agents and especially urbanisa-tion administrators and presidents. Also FX, insurance, advertising companies. It's only bad if it's not declared to the end client who is paying for the work.

AN: I’m not a fan of regulation but in this case it is about regulation. You need to create a level playing field. It needs to be stamped out.

HANDY TIPS: Debate rages for Adam Neale (left) and Alex Radford

OLIVE PRESS KICKBACK CAMPAIGN

From Page 21

22

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25 mins from Malaga, 70.300 m2 of land including almond and olive groves. The house is 435 and m2 consists of 2 kitchens, 6 bedrooms, 3 bathrooms, 3 living areas and many store rooms.

Olympic size swimming pool, parking area. Perfect for a family or holiday home.

Country crowned number one for Brits hoping to buy property abroad, says HiFX

Spain’s gain

- Corruption still an issue- Laws are confusing- All political parties are culpable

Backhanders and town hall corruption have a long and unfortunate as-sociation with the Costa del Sol property market. it hasn’t gone away yet.

AR: I think it has got bet-ter. There are no more brown bags in envelopes.

SM: No, It’s exactly the same, just a little bit more clever. In the town halls, you have political parties that say, ‘We are going to help you’, but it’s all ex-actly the same. Both sides are as bad as each other. All the politi-cal parties are saying they are going to try to clean up and do things by the law. But sadly I don’t see that happening just yet.

AN: I agree with Scott, it has not disappeared yet, despite all the horror sto-ries finally coming out in the press. Central Gov-ernment is going to have to work much much hard-er to eradicate corruption.

CORRUPTION HAS NOT GONE AWAY

SUNNY Spain is very much the firm favourite for Britons looking to buy a place in the sun, according to leading currency experts HiFX.The bi-annual Property Hotspots Report, which analyses a decade of property data, reveals that Spain attracts more buyers than France, USA or Portugal. Over a third (37%) of Britons searching abroad, made enquiries in Spain, with France now only accounting for 34%.Mark Bodega, director of HiFX, said: “Spain’s housing market is recovering, amid gradually improving economic conditions. “The market dipped in 2014 when house prices dropped 3%, but increased invest-ment from foreign buyers in resorts and cities, such as Barcelona and Madrid, has pushed prices back up.”

1 Spain 37% 35%

2 France 34% 35%

3 USa 8% 7%

4 Portugal 5% 5%

5 Switzerland 4% 7%

Country Percentage of enquiries (July 2015) Percentage of enquiries (March 2015)

23www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es October 1st - October 14th 2015 21Property

Property

NEW on the Costa Del SolPrices from EUR 90 + IVA

Get those all important viewings with good pictures

www.marbellarealestatephotos.com

Marbella Real Estate Photos

FROM poo-powered properties to tuna-bone heaters, Spanish homes are leading the way when it comes to the environment. In-novative new designs are proving a build-

ing’s green credentials can be enhanced without

House, Wales

Behind the green door

With environmental is-sues uppermost this year, Joe Duggan takes a look at some of the eco-friendly hotels and homes around Spain (and one Spanish-designed house in Wales)

These ewok-style tree dwellings were developed with nature up-permost in mind. Tree surgeons supervised the development of

the four suites to ensure minimum impact on the trees in the Ult-zama Valley. A composting toilet system avoids the installation of pipes or drains and an elevated walkway ensures the surrounding

soil and plant life remains free from human contact.

Basoa Suites, Navarra

It may be in Wales, but a Spanish brain is behind the UK’s first home that creates more energy than it wastes. Madrid ar-chitect Ester Coma-Bassas designed the house that sends €251-worth of energy back into the grid for every €144 of elec-tricity it uses. Built out of solar panels, it uses several energy storage systems and insulation techniques.

BRANCHING OUT: Basoa Suites perched between the trees

NAVARRA NIRVANA: At Basoa Suites

SOLAR SAVINGS: Spanish-designed home

skimping on luxury or con-venience. All over Spain, new ways of creating a dream home or hotel are ensuring eco-conscious folk are able to tread the green path. And anyway, who wants to sleep in a run-of-the-mill hotel when a new wave of eco-friendly establish-ments offer forest tree suites and grass carpets?

24

25www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es January 20th - February 6th 2016

Californian designer Meghan Sapp’s farmhouse in Oskotz is believed to be the world’s first home to take all its en-ergy from its waste. And it’s not just potato peelings and banana skins powering the dishwasher and underfloor heating. Poo -- both human and from the farm’s horses -- is heating the house and pro-viding hot water. And with four horses on hand, Planet Energy founder Meghan and and hus-band Iñigo have a ready-made supply of energy that can be turned into fuel.

This luxury green hotel has installed innovative new systems to minimise its en-vironmental impact. It was the first hotel in the Basque Country to introduce an eco-friendly biomass boiler. What’s more, it’s powered on dried, crushed tuna bones. The boiler heats the hotel’s water and allows for a 60% saving on the month-ly energy bill.

Hostal Empuries’ clients will certainly be at one with nature. Its rooms are insulated with sheep’s wool and its hallway carpets are made from grass. And you won’t be walking away with a ‘complimentary’ bottle of show-er gel here. All the rooms use soap dispensers rather than plastic bottles. The hotel’s solar-powered light will guide you to its natural therapy spa, while a water puri-fier and organic garden will keep you brimming with natural vitality.

Hotel Viura, Rioja Alavesa

Farmhouse, Navarra

Hostal Empuries, Girona

BRANCHING OUT: Basoa Suites perched between the trees

POO POWER: Horse manure heats Navarra house

HOTEL HEAVEN: At Viura in the Basque country

CATALAN COMFORT: At Hostal Empuries

25

Property www.theolivepress.es January 20th - February 6th 2016

experience in11 years+

RICS BUILDING SURVEYORS & VALUERS

Connect with us!

For peace of mind follow these property buying rules

+34 952 923 520admin@surveyspain.comsurveyspain.com

Buy with Knowledge& Confidence

Find Your Property

InstructBuilding Surveyor

InstructLawyer

ALL PROPERTY MATTERSBY CAMPBELL FERGUSON

Contact Campbell and the team on +34 952 923 520 or email info@surveyspain.com

THE cranes have again started sprouting and moving on the Cos-tas.

Land buyers are active and, in the best locations, construction has already started. With activity resuming, these 10 points are important for off-plan buy-ers to consider before purchasing a property:

1. Hire a competent, conscientious lawyer who is fluent in your language

and who has no family/client connec-tion to the developer.

2. Never sign anything without get-ting your lawyer to check all the

details first.

3. Don’t sign if you have to complete before the First Occupation Licence

is granted.

4. Visit developments previously completed by the developer and

speak with the residents and the pres-ident of the urbanisation community. What sort of problems have they had and how effectively did the developer respond?

5. Does the development already have a building licence from the town hall?

Without that, any money you put forward is a gamble. The Bank Guarantee Law

only covers monies put forward after the licence is granted, so make sure your lawyer advises you accordingly. An out-line is available at www.spanishproper-tyinsight.com/2015/09/22/new-bank-guarantee-legislation-explained

6. Is this property for you to use or rent out? Whichever, make sure

that it complies with the regulations that most authorities have already drawn up to control private property rentals.

7. Beware: in the last property boom, many buyers came to grief speculat-

ing by buying a number of apartments off-plan with the intention of selling all except one as the price rose nearing completion. This was encouraged by the ability to avoid the property transfer tax if the right to buy was sold before the purchase was notarised.

7.1. Make sure that the contract permits you to do so; many

building promoters do not appreciate having to sell their properties in com-petition with previous buyers.

7.2. Also, what happens if there is another financial crash or any

of 1,000 things that could happen in the world before the prices have risen to make it worthwhile selling? Can you pay the full price for them all and will you

want to if prices have fallen? How many buyers are thinking the same?

8. The Spanish courts have decreed that marketing documents, web-

sites, etc, are part of the formal de-scription of the property being sold to you. Check them against the detailed specification attached to the purchase contract. General statements of ‘to the highest quality’ really have very little descriptive or legal power.

9. The decennial 10 year structural guarantee is just that. It only covers

the structure, being foundations, pillars, floor plates and roof. It is nowhere near as comprehensive as the UK NHBC. It starts when the architect signs off the building construction as completed and not the date of the first occupation li-cence.

10. When you do actually buy, make sure you have the proper-

ties ‘snagged’ by an experienced sur-veyor who will know exactly the types of problems and flaws to look for and knows what you should be getting. The promoter will say that they have snagged the property, but their view will be less demanding than yours should be. After all, this will be your new home -- so why not make sure ev-ery little thing is perfect?

Be prepared...Improving market encouraging off-plan buyers

WITH its Turkish hammam and spa, ornate colonnades and garden statues it is the very definition of opulence.Sitting in 20 hectares of wooded parkland, stunning Las Sire-nas also counts a cinema room, gym, playroom, tennis court and a six-car garage.Comprising four buildings and an incredible 24 bedrooms, all recently refurbished, this is one palatial home perfect for a large, extended family.an outdoor and indoor pool are complemented by the spa, with a hot room, warm room and cold room, all guaranteed to make even the most stressed out executive relax.The grounds are amazing and the six acres of formal garden are inspired by Spain’s cultural past, with a distinctly Moorish feel. a walk around the grounds or a trip to the hidden grotto lo-cated by the main building is the perfect place to let your imagi-nation run wild. and the fairytale could get even sweeter, with the town hall al-ready approving planning permission for further construction of 42,000 m2 in case 24 bedrooms were not enough. “There is nothing like it around,” explained Bish Victor, of Cas-tles estate agents, who has covered the local market since 1986. “There is a lot of land and there are so many possibilities to be had.”

For more information visit www.castlesestateagency.com

Siren sounds

PROPERTY FOCUS

aDVeRTORIaL

26

STUNNING: Las Sirenas has permission for 42,000 m2 more construction

27www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es October 1st - October 14th 2015 21Property

Property22

THE past 12 months has seen the Euri-bor rate bottom out at an all time low.And the lasting low interest rate has

continued on into 2016 to the jubilation of mortgage owners across the conti-nent. And the even better news is that it is show-ing no signs of shooting skywards anytime soon (no doubt, music to the ears of bor-rowers from London to Lithuania).The interest rate you pay on your mortgage consists of two elements: Euribor rate plus margin charged by the bank (its profit, so-to-speak).The Euribor is a daily reference (base) rate, published by the European Banking Feder-ation, based on the averaged interest rates at which Eurozone banks offer to lend. How it affects you is thus: the lower the Euribor rate is, the lower your mortgage interest rate which means (and this is the good news) the less you pay in mortgage

repayments. Likewise, the banks are re-ducing their margins so, again, rates pay-able are lower.For several years after the economic crisis in 2008, many mortgage borrowers will have noticed a sudden, drastic increase in their monthly payments due to bank mar-gins, even as the Euribor was falling.Now both have been steadily falling across the board ever since. With each year the reductions are becoming smaller and it is getting harder to believe that the Euribor could drop any lower.But it has. Which is great news for all home-owners that owe money to their bank.Dipping below 0.1% for the first time last year, 2015 was a record year for the Euribor rate. In fact, the last 12 months saw the biggest percentage drop in the last decade - fall-ing by 82% from 0.328% at the start of the year to 0.059% by the year’s end.So, now that we are in 2016, what’s the

outlook for the Euribor for the immediate future? (Good news, we hope). Well, the ECB has pledged to keep its mon-etary (loosening) policy the same until at least 2017, insisting that it is in no hurry to increase interest rates.This could spell ever further drops, with some experts believing the rate could plummet to as low as 0.04% over the com-ing months.While a good indication of how the Euribor will react is by looking at the European benchmark interest rate, there are other factors to take into consideration as well. For example, it is worth keeping an eye on the eurozone’s own economy and inflation.Despite the fact that there are a number of elements to consider, in general, there shouldn’t be any surprises on the market in the near future and borrowers can ex-pect at least another year of low-interest payments. Happy New Year!!!!

MORTGAGE THINK TANKby mortgage bro-ker Tancrede de

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

What record-low mortgage-rates mean for you!On the slide for eight years, a record-low Euribor rate has borrowers overjoyed

THERE is a buzz in the air at the Gua-dalmina office of Winkworth Spain.With a sharp increase in the num-ber of enquiries over the last few

months, the team is set for a busy year.While the majority of Winkworth’s buyers are UK-based, international demand is also on the up.

“We are experiencing a huge increase in demand from Scandinavian, French, Bel-gium, Middle Eastern and UAE investors,” executive Christopher Vent told the Olive

Great expectations

The UK’s largest independent agency Winkworth is predicting an exciting year ahead in Spain

Press.While Europeans tend to seek a holiday home, thanks to com-petitive prices and an unbeat-able lifestyle, the Middle East-ern investors are drawn by the weak euro and keen to acquire European assets safely.Vent adds that thanks to the new rules allowing pensions to be drawn out earlier, some UK residents are spending extra cash on a Spanish bolthole.Others are benefitting from the all-time house price high in the UK by remortgaging their UK home to invest here.Winkworth - the UK’s largest independent estate agency - has found a huge demand for properties priced between €200,000 to €300,000, and has a list of waiting clients.With Winkworth’s new interna-tional website launched later this month, enquiries from the UK are set to increase even further.

To contact Winkworth Spain, call 952 880 941 or email info@winkworth.es

TWO incredible Mansion apartments have come up for sale within San Roque golf resort.

The enormous properties - that measure nearly 400m² in total size each - are up for sale at less than a third of their origi-nal price.Each well-appointed garden apartment offers three bedrooms (all with ensuite bathrooms), a fully-fitted kitchen, two huge terraces, a private garden, partial sea views and garage parking for two cars, two buggies plus two storerooms.The newly renovated pads are part of the exclusive gated community of San Roque Club, with four swimming pools, two golf courses, a clubhouse with gym and spa, restaurants and 24-hour secu-rity.The palatial homes are up for just €295,000 and €315,000 respectively.

Call 952 963 937 or email info@propertydirectors.com quoting the reference PD-063581 for further informationwww.propertydirectors.com

Property January 20th - February 6th 201628

Palatial homes - at a bargain price!

29www.theolivepress.es the Olive Press October 1st - October 14thwww.theolivepress.es October 1st - October 14th 2015 21Property

30 www.theolivepress.esthe Olive Press November 11th - 25th 2015Property www.theolivepress.es January 20th - February 6th 2016

16years

essentialmagazine ®

1999-2016

w w w . e s s e n t i a l m a g a z i n e . c o m

The Old Bank, 17-21 Cannon Lane, Gibraltar, P.O. Box 1418 T: +350 200 48532 F: +350 200 62050 E: info@npestates.com

www.npestates.com

4 Bedrooms | 3 BathroomsPenthouse

Queensway Quay

£1,500,000Property Ref: NPGIQQ1106

EXCLUSIVE

SELLING a property or a home can seem like a daunting task, especially in today’s market, but it doesn’t have to be.

Don’t focus solely on the establish-ment at hand but consider selling the lifestyle as part of the package‚ par-ticularly if your potential market might be to high-end buyers.Customers aren’t just choosing a house when they purchase, they’re also buying into the surrounding area and its amenities.Those new to the area especially will be keen to know what there is to do, outside and inside the property.You have to accentuate key assets such as the lighting system, music system, kitchens, views and external areas.In order to sell your property you must appeal to as wide a market as possi-ble, find out if there is potential to ex-pand or extend the property and capi-talise on such areas by exciting buyers with the notion of what could be.An obvious example would be an in-crease in the number of bedrooms.Another great way to fully realise the potential is to have a local surveyor ex-amine the property beforehand. Paul Gibson of Gibson Gale explains: “It is important to see if it is possible to en-large rooms, increase the number of bedrooms or even extend into base-ments and attics as values are based on floor area, the larger the useable area the higher the value!”.Meanwhile, the quality of the photo-

the market sadly waits for no-one!

Lorraine Laguea, Director of NP Estates in Gibraltar, reveals her golden tips for selling a property

graphs is of the utmost importance.Get the photography done when the light is right for the interiors. For south-facing properties, make the most of the evening light, with the sunset creeping in, as this could make for an eye-catching aesthetic photograph. Making the interior look im-maculate and redec-orate if required.A show house might not be entirely nec-essary but a smart comfortable and wel-coming family home is essential.Keep things as natural and homely as possible so that poten-tial buyers can quickly immerse them-selves in their surroundings and imag-ine themselves living there. That is the aim after all. The agent will be the key to the sale.

Appoint a good local agent whom you trust and like. Don’t make your choice based on flattery (such as a high guide price) or savings (a low commis-

sion), as you get what you pay for!Setting the right guide price

is integral to a good sale. There are buyers around

as mortgage rates are favourable at present, but there aren’t very many of them and they are price sensitive, so be realistic with the guide price and you

might end up pleasantly surprised.

Finally, be prepared to en-sure a quick sale. Find a repu-

table lawyer who will act on your be-half as soon as you have a sale agreed and ensure that he/she is armed with all relevant documentation; this will assist in a swift exchange of contracts which is the most important thing for

a buyer in today’s market.There’s no need to wait until spring as the tradi-tional seasonal market-place has dissipated. Rather than leaving the house ‘in the bot-tom drawer’ during the winter months, keep your property ac-tive, online and open to view-ings.To begin your journey contact NP Estates. We’re ready to assist you with our expert knowledge of Gibraltar’s ever-changing property market.

NP ESTATESThe Old Bank, 17-21 Cannon Lane, Gibraltar00350 200 48532info@npestates.com www.npestates.com

Keep things

as homely as possible so

potential buyers can quickly

immerse

IN THE KNOW: Lorraine at NP Estates

30

31www.theolivepress.es the Olive Press November 11th - 25th 2015

M A D R I D - S E V I L L A - M A R B E L L A - G I B R A LTA R - S O T O G R A N D ETel: (+34) 952 81 01 02 · www.KSsir.com · Emai l : info@KSsir.com

REF: 23077P

We still have last minute availability of villas and apartments for Easter lettings!!

El consumidor tiene derecho a que se le entregue una copia del correspondiente Documento Informativo Abreviado de la vivienda

In process

182 44

GOLDEN MILE*Built: 984m2 *Plot: 2.112m2 *Beds: 6*Baths: 6 *Cellar *Jacuzzi*Lift *Sea view *Domotic S.

Price: 3.900.000€

REF: 23125P

STUNNING BALINESE STYLE VILLA

Stunning Balinese style villa situated in Sierra Blanca, one of the most sought-after areas on the Golden Mile, on the outskirts of La Concha Mountain, offering total privacy and

seclusion.

REF: 22655P

110 27

EXCEPTIONAL GENEROUS SIZE HOME

NEW GOLDEN MILE*Built: 1.091m2 *Plot: 2.880m2 *Beds: 5*Baths: 4 *Solar panels *Jacuzzi*Lift *Heated pool *Sauna

Generous size villa located in the hills of the New Golden Mile in an elevated plot position enjoying wonderful views to the garden, golf and mountains. Only a buggy drive away

from the golf course.

Reduced Price from: 2.700.000€ to 2.300.000€

SPLENDID FRONT LINE BEACH APARTMENT

NEW GOLDEN MILE

*Built: 179m2 *Plot: 75m2 *Beds: 2*Baths: 2 *Gym *Jacuzzi*Lift *Heated pool *Alarm

This beautiful ground floor apartment is located in a 5 star complex in a front line beach location offering beautiful sea

views. An outstanding property in a prime location.

72 17

Price: 1.250.000€

32 www.theolivepress.esthe Olive Press November 11th - 25th 2015

Top DollarProperty22 www.theolivepress.es October 1st - October 14th 2015

Are you becoming disillusioned with your current Estate Agent?Tired of not receiving feedback after viewings?

Winkworth Spain is experiencing a huge increase in enquiries for properties on the coast. We urgently need more properties for motivated buyers.

Ours is a different kind of agency. Our way of doing things just works. It’s all in the detail, from the unique approach we take to marketing each property, to the care and attention we give to our buyers and sellers alike.

Call us now on 952 880 941 or email info@winkworth.es

Experience the difference.