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Category: Real Estate

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Published on 2 Comments on Torremolinos gives green light to largest leisure park in Andalucía

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.

Torremolinos 300x120 - Torremolinos gives green light to largest leisure park in AndalucíaThe 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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Published on 3 Comments on How to register tourism properties in Andalucía

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 vacation rental apartment 300x191 - How to register tourism properties in Andalucía‘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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Published on Leave a comment on Two-thirds of Spanish population are flat-dwellers

Spain has the highest proportion of flat-dwellers in Europe and the lowest percentage of people living in houses, according to a report by Eurostat.

Pisos en Madrid 300x225 - Two-thirds of Spanish population are flat-dwellersThe latest figures on European housing reveal that two out of three Spaniards live in a flat, while in countries such as Britain, Croatia and Norway, more than 80 percent of people live in houses.

Flats are also a popular form of accommodation in Latvia - where 65 percent of the population live in a flat - Lithuania (58 percent) and Greece (57 percent).

But unlike their flat-dwelling European cousins, most Spaniards own their own homes - 80 percent own while only 20 percent rent. They just prefer those homes to be flats and not houses.

Six out of ten Europeans live in houses, so why do Spaniards prefer flats? One answer is that Spain is a heavily urbanized society.
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Published on Leave a comment on Residential property sales up for 18th month in a row in Spain

Residential property sales in Spain are continuing to rise with the latest data showing that the number of transaction recorded by notaires increased by 7.3% compared with Menorca 6 300x288 - Residential property sales up for 18th month in a row in Spainthe same month in 2014.

It marks some 18 months of continuous growth, the figures from the General Council of Notaires shows with its analysis report saying that the recovery in the housing market is being maintained.

A breakdown of the data shows that apartment sales increased by 6.2% year on year, more than double the increase recorded in October 2015. This was due to sales of free price apartments rising 8.3% and also sales of second hand apartments rising by 12.2%.

Sales of individual family homes also saw strong growth, up 11.4%, recording nine months in a row of double digit increased. However, sales of new housing fell for a tenth month in a row, down in November by 18.6%.
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Published on Leave a comment on On the Market: 10 Homes for up to €100,000 in Almeria, Spain

1. Apartment for sale in Roquetas de Mar (Almería): 2 bedrooms, 2 bathrooms, Built area 83m2, Swimming-pool, 2nd Row from the Sea, Second Hand, In Urban Area

Apartment for sale in Roquetas de Mar Almería - On the Market: 10 Homes for up to €100,000 in Almeria, Spain ...continue reading "On the Market: 10 Homes for up to €100,000 in Almeria, Spain"

Published on Leave a comment on The necessity to start building new housing developments on the Costa del Sol

Experts are warning that construction needs to start again in certain towns in Malaga province, especially Marbella, where the stock of new housing for second homes is now down to a minimum level.

Puerto Banús Marbella 1 300x225 - The necessity to start building new housing developments on the Costa del SolThe professionals also say that in other places, such as Malaga city, Benalmádena and Torremolinos, it will be necessary to start building properties again within the next two years, before the stock there runs out.

These are just some of the conclusions in the Tinsa valuation company’s latest report on housing in Spanish coastal areas in 2015, which has just been issued.

The harshest years of the crisis left behind them large pockets of housing in many coastal regions of Spain and these were difficult to sell in such a slow market. In some areas, though, the situation is now very different. In Malaga province, for example, the Tinsa report points out that Marbella and Benahavís are exceptional because they are now in a situation of ‘recovery’.
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Published on Leave a comment on 8 Outstanding Holiday Rental Homes in Spain

1. Holiday rental detached villa in Benalmádena Costa (Málaga): 5 bedrooms, 3 bathrooms, Built area 420m2, terrace 50m2, Swimming-pool, In Urban Area, €1,250/week

Holiday rental detached villa in Benalmádena Costa Málaga - 8 Outstanding Holiday Rental Homes in Spain
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Published on Leave a comment on Marbella is to get a new luxury hotel complex on the beach

Marbella is to get a new luxury hotel complex right on the beach.

Marbella 3 300x128 - Marbella is to get a new luxury hotel complex on the beachThe Platinum Estates group, an investment fund based in Hong Kong, has just acquired 170,000 square metres of land on the coastal strip of Las Chapas which is situated right next to an area of sand dunes which is one of the most important natural spaces in the town.

The land purchase, which includes 600 metres of beach frontage, cost 50 millon euros and the investment fund has budgeted a further 150 million euros into the hotel project.
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Published on Leave a comment on Spanish Property Market Recovery Set to Continue in 2016

Looking ahead to 2016 it looks as if the Spanish house market will continue to recover but the latest data shows it is still a rollercoaster and growth very much depends on location.

Madrid desde Callao1 208x300 - Spanish Property Market Recovery Set to Continue in 2016According to the latest figures from appraisal company Tinsa prices are still increasing with its latest index up by 1.9% in November year on year.

However, the increase is somewhat exaggerated by an unusual fall in prices last year and on a monthly basis prices were down a fraction compared to September.

The Tinsa index shows, however, that the recovery is broad based as house prices rose in all the areas covered. Prices in Barcelona and Madrid were up by 3%, coastal areas popular with overseas buyers saw price growth of 1.4% and the Balearic and Canary Islands 0.2%.

But the recovery still has some way to go as since the peak of the market house prices are still down 41.3% in general, and 48.2% on the coast.

The Balearic Island saw price growth of 0.9% followed by the Canary Islands up 0.5%, Andalucía up 0.3%, Navarra and Castilla-La Mancha both up 0.1%.
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Published on Leave a comment on Court rulings in Spain create more uncertainty over illegal homes

Three rulings by Spain's Supreme Court have left the owners of more than 16,500 homes built in Marbella since 1986 in legal limbo by declaring planning regulations void.
Puerto Banús Marbella1 300x225 - Court rulings in Spain create more uncertainty over illegal homesIn a series of decisions, the country's highest court has declared null and void Marbella's urban planning regulations that were passed in 2010 and which legalised thousands of homes constructed since the previous town plans, dating back to 1986, were approved.

In response to appeals against previous Supreme Court of Andalusia rulings, the rulings all arrived at the same conclusions, namely that the Town Council does not have power to retroactively declare legal properties that have been built illegally as that rests with the courts, nor to alter land classifications, nor legal liabilities.
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