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Developer is planning to build the European Union’s tallest skyscraper in Madrid

SpainHouses.netApril 18, 2016April 18, 2016Leave a comment

A developer is planning to build the European Union’s tallest skyscraper in Madrid.

The 70-floor building would go up in the Chamartín district of the capital, and be part of a larger six-tower complex planned by Distrito Castellana Norte (DCN), has said company CEO Antonio Béjar.

The new buildings are slated for construction near four existing skyscrapers known as Las Cuatro Torres, whose 52-floor Torre Cristal, standing at 250 meters, is currently Madrid’s tallest tower.

Béjar said that the project “will redesign the city’s skyline and place Madrid among the main European capitals.”

According to Béjar, the six new towers “make up a balanced and sustainable urban setting.”

Béjar said the project has all necessary authorizations and technical approval reflected in 48 favorable reports. But it still lacks a municipal license. Béjar said that his company has not sent an ultimatum to city authorities, but that he hopes to get a reply before the end of this year.
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Taxman turns attention to hidden internet property rentals 1

SpainHouses.netApril 11, 2016April 11, 20161 Comment

Spain’s Tax Agency is targeting the owners of apartments who placed rental ads last year in a crackdown on unreported income.

With the 2015 income tax drive now officially underway, taxpayers who use the new online tax filing program, Renta Web, may find the following message on their computer screen:

“According to data in the Tax Agency’s power, you have placed property rental ads in various media, including the internet.”

The note is a reminder that any income from such rentals must be declared, in the same way as income from foreign pension schemes or other foreign assets.
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How long does it take to sell a property in Spain?

SpainHouses.netApril 4, 2016April 2, 2020Leave a comment

House prices throughout Spain seem to be rising as the market slowly raises its weary head above the doom and gloom of 2012 and 2013.

Some areas do seem to be rising more quickly than others though. With credit being offered once again by the banks, the outlook is definitely more positive than it has been in recent years.

How long does it actually take to sell a property on average now? Well it depends on where the property is and what the demand is like in the area.

According to new findings, in Spain on average a property takes around 10.2 months to sell which is already considerably less time than it was six months ago, when the figures stated that on average it took 10.6 months, and even less so than the 11.5 months in 2014 and 13.2 months in 2013.
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Luxury property sector in Marbella attracts 100 million euros

SpainHouses.netMarch 28, 2016March 28, 2016Leave a comment

Marbella continues to attract international property investment. The investment fund Resolution Property has returned to the town after ten years’ absence to invest in luxury properties in the resort.

The fund also plans to source investment opportunities in sectors such as services, retail, hotel and holiday rentals. The fund’s assets will be managed by Rhone Property, an investment fund management company with a track record of experience in Marbella.

Two companies make up the capital behind the fund: the British Resolution Property and the Swiss Be Capital. Each brings 50 per cent of the total capital to the fund and will carry out the investment via Investis Properties.

This company already owns an extensive portfolio of assets in Marbella and these have a value in excess of 50 million euros. The volume of investment will allow the company to become a REIT (real estate investment trust - SOCIMIin Spanish) and therefore place Marbella on the alternative stock market in Spain.
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Torrevieja is been named Spain’s poorest town

SpainHouses.netMarch 21, 2016June 11, 2019Leave a comment

The leafy Madrid dormitory town of Pozuelo is Spain’s richest town, while Torrevieja, a run-down resort on the coast of Alicante province, remains the poorest, according to the latest municipal wealth and inequality survey published by the National Statistics Institute (INE).

The study covers 109 Spanish municipalities throughout Spain, and shows that at €70,298, annual household income in Pozuelo, around 15 kilometers to the northwest of the capital, is five times that of Torrevieja’s €13,977.

Pozuelo is dotted with exclusive gated communities that are home to soccer players and other celebrities. Torrevieja has a significant number of retirees living all year round, many of them from the UK and Germany, and its economy is largely dependent on the summer season.

In general, the north of Madrid is home to the capital’s wealthiest inhabitants: in Majadahonda, ...continue reading "Torrevieja is been named Spain’s poorest town"

6 Perfect home rentals for your Spanish holidays! 2

SpainHouses.netMarch 14, 2016March 14, 20162 Comments

1. Holiday rental villa in Jávea (Alicante): 3 bedrooms, 2 bathrooms, Plot 1,500m2, Swimming-pool, Seaside Resort, Pets allowed, 1,254 €/week

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Wanda Group still wants to refurbish Edificio España

SpainHouses.netMarch 7, 2016March 7, 2016Leave a comment

Madrid Mayor Manuela Carmena has said that the Chinese-owned Wanda Group still wants to refurbish the capital’s landmark Edificio España building and that it will continue working with City Hall to come up with a viable solution to doing so without demolishing its protected façade and flanks, as the group had originally wanted.

The announcement, which came following a meeting between the leader of the leftist Ahora Madrid bloc and Wanda’s head in the capital, Michael Qiao, on Tuesday, contradicts recent reports initially published by Cinco Días newspaper saying that Wanda had on Sunday told Carmena that it was pulling out of the project.

The mayor denied that such a weekend meeting had ever taken place.

According to municipal sources, Wanda chiefs have communicated their intention to continue with the project and a “new round of negotiations” has been opened with City Hall technicians to solve the problems.
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Property sales in Málaga reached in 2015 their highest level since 2008

SpainHouses.netFebruary 29, 2016February 29, 2016Leave a comment

Figures published by the Spanish Statistics Institute (INE) confirm that market recovery is well under way and that sales activity now lies at levels on a par with those at the start of the crisis.

In Málaga province last year, 24,705 properties were sold, the highest figure since 2008. 2015 saw an increase of 11 per cent in sales and was the third consecutive year of growth. The Málaga property market has been growing since 2013 while national and regional recuperation did not start until 2014.

The rise of 11 per cent for last year in Málaga does, however, mark a slight slow down in recovery when compared to the 14 per cent growth in 2014. But experts point out that this is because high increases are easier when initial figures are very low.
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Torremolinos gives green light to largest leisure park in Andalucía 2

SpainHouses.netFebruary 22, 20162 Comments

The largest leisure park in Andalucía was given the go-ahead by Torremolinos council on Tuesday when the new town planning regulations (PGOU) were approved almost unanimously.

The giant leisure park, built and developed by Intu Properties, will include shops, restaurants, a dry ski slope and large pool with surf waves. The chosen location will be the area between the Palacio de Congresos and the motorway.

Direct investment in the new leisure park is expected to reach 650 million euros. A further 550 million euros will be invested indirectly.
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How to register tourism properties in Andalucía 3

SpainHouses.netFebruary 15, 2016June 11, 20193 Comments

The first law to control private holiday rentals in Andalucía has been approved. Owners who are already renting to tourists are now obliged to register the property on the ‘Registro de Turismo’ as will any others planning to offer villas, apartments or rooms in their own home as tourist accommodation. However, the new decree has led to an influx of questions at the tourism department:

What is considered to be tourist accommodation?

Any building in Andalucía which is habitually offered as accommodation at a price fixed by the owner and which is advertised through tourism channels, such as travel agencies or online platforms. According to the Junta’s Tourism Delegation in Malaga, every property which is publicised on these portals and puts the owner in touch with travellers has to be registered as tourist accommodation. This does not, however, include tourist accommodation in officially designated rural areas, because this is already covered by an existing decree. Nor does the new regulation apply to owners who have three or more properties which are used as tourist accommodation but are within a radius of one kilometre. In their case, they are regulated by the ‘Apartamentos Turísticos’ decree, which has also been modified, under the sector regarding tourist complexes.
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