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Published on Leave a comment on Spanish Property Market is on the Verge of Recovery

The downward trend in the property market in Spain is drawing to a close and it is unemployment that is hindering a full recovery, according to the International Monetary Fund.

new home development 300x195 - Spanish Property Market is on the Verge of RecoveryWith unemployment still hovering around 26% the real estate sector is unlikely to move into full recovery mode just yet, says the report author James Daniel, head of the IMF’s Spain mission.

But the report does point out that the country’s economy has ‘turned the corner’ after economic improvements took hold in the second half of last year and continued in the first quarter of 2014. Indeed, it adds that the Spanish economy is now growing at its fastest pace since 2008.

It also says that labour reform and wage moderation are helping turn job destruction to job creation. Compared to a year before, unemployment fell in the first quarter of 2014 and jobs, as measured by social security affiliations, increased by about 200,000 in April.
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Published on 2 Comments on Holiday Dream Home in La Herradura, Granada

3 bedrooms, 4 bathrooms, Swimming-pool, Luxury property

This luxury home provides a modern and spacious ambiance. In addition, it offers breath-taking panoramic views from the lighthouse on the Punta de la Mona, to Almuñecar, and all the way to Cabo Sacratif at Motril. The sea and the Marina Del Este are practically at your feet.

164 - Holiday Dream Home in La Herradura, Granada
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Published on Leave a comment on House Juncal and Rodney by Pepe Gascon Arquitectura

From the architect. Some houses close in on themselves when connection with their surroundings is not desirable. However, others open up to their setting when it is clear that it endows them with qualities and provides their raison d’être and hence must become an intrinsic part of the project. This is the case of the Juncal y Rodney home since it is built on a plot of land located on the Begur massif (Girona) in one of the most sublime settings of the Costa Brava. The longitudinal volume of the north-south-facing building of two storeys – the upper one with three bedrooms and the lower one with the shared spaces – is thus open to the Mediterranean and the series of mountains and coves that are glimpsed on the horizon.

160 e1402472936239 - House Juncal and Rodney by Pepe Gascon Arquitectura
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Published on Leave a comment on New plans for emblematic Madrid’s building ‘Edificio España’

The regional government of Madrid has given Banco Santander the go-ahead to begin work on redesigning the interior of the Edificio España. Once Spain’s tallest building, the 117-meter-high tower block dominates Madrid’s Plaza de España, but has been vacant since 2005.

edificio españa2 - New plans for emblematic Madrid's building 'Edificio España'Santander has already found a buyer for the 1950s building once the project, which has been designed by Norman Foster and Carlos Lamela, is finished. Chinese businessman Wang Jianlin has offered €260 million for the deal.

The interior of the building will be ripped out and is to be converted into a shopping mall, a hotel and around 300 luxury apartments. The distinctive red-brick façade and sides will be maintained.

According to information seen by EL PAÍS, the plans proposed by the bank will see the commercial space of the building increased from 10,000 to 15,000 square meters, creating a huge retail center in the heart of the capital.
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Published on Leave a comment on Beautiful Villa for Sale in Tenerife, Canary Islands

3 bedrooms, 2 bathrooms, Seaside Resort, Second Hand, Luxury property, In Urban Area, In a mountain area, Canary Islands

This lovely villa is located on the south- west coast of Tenerife, in a quiet area with wonderful views over the Atlantic Ocean, in the area of Torviscas Alto. It is situated apart from the larger resorts in the area of Adeje, between San Eugenio and Miraverde. As a residential complex, the environment is quiet and convenient. There are less than 10 minutes by car from the main beaches, golf courses, recreation areas, schools and parks.

30127136 1314091 foto29423774 - Beautiful Villa for Sale in Tenerife, Canary Islands
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Published on Leave a comment on Spanish architect Calatrava wins lawsuit over a degrading website

A judge in Valencia has ordered a political party to pay €30,000 (£24,400) in damages to the celebrated architect Santiago Calatrava over a website its members created to highlight the flaws and cost overruns in various projects he designed.

Ciutat de les Arts i les Ciències in Valencia Spain 211 300x200 - Spanish architect Calatrava wins lawsuit over a degrading websiteCalatrava took the Valencia branch of the leftwing party Esquerra Unida to court, demanding €600,000 in compensation over their website 'Calatravatelaclava', which loosely translates as "Calatrava bleeds you dry."

The party founded the site in 2012 to take aim at the City of Arts and Sciences, an ambitious project meant to put Valencia on the map as a tourist destination. It said that from an original budget of €300m, the cost of the dazzling complex – which includes a concert hall, opera house, planetarium and science museum among its many features – swelled to more than €1bn by the time it was completed in 2005.

Calatrava, a native of Valencia, billed the government nearly €100m for the project, it added.
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Published on Leave a comment on The Spanish ‘Golden Visa’ and its effects so far

Fewer than 100 of the world’s super-rich have taken advantage of the Spanish government’s offer of a residency permit in return for investing in the national economy or buying property in Spain. The so-called “golden visa” scheme was introduced in September 2013, aimed at foreigners buying properties worth more than €500,000; investing €1 million or more in shares of publicly traded Spanish companies; depositing at least €1 million in a Spanish bank account; or making a major business investment leading directly to meaningful job creation, or having significant socioeconomic or technological impact.

Apartment in Marbella 300x168 - The Spanish 'Golden Visa' and its effects so farThe government says it has issued 81 visas on the basis of people meeting these requirements, and that 72 of the cases involved property purchases.

Almost half of the new residents are Chinese and Russian millionaires, with the remainder coming from Ukraine, Lebanon, Ecuador, Qatar, Egypt and Iran, among others.

The new visas do not come with a work permit, or include family members or spouses (though these may apply separately); nor are beneficiaries required to live in Spain – although they must visit the country at least once a year. They will, however, be allowed to move freely through the Schengen Area.
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Published on Leave a comment on Luxury Villa for Sale in Marbella, Málaga

7 bedrooms, 7 bathrooms, Area Lot 2,700m2, Built area 1,300m2, Area useful 1,120m2, Area terrace 180m2, Swimming-pool, 2nd Row from the Sea, Luxury property, In Urban Area: Los Monteros Playa, Marbella (Malaga, Costa del Sol)

Impressive property located just 200 metres far away from the sea in the prestigious urbanisation Los Monteros playa. Built in 2005 with unbeatable qualities.

159 - Luxury Villa for Sale in Marbella, Málaga
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Published on Leave a comment on Mediterranean Pearl by Architect Carlos Gilardi

The experience of rising above the world we experience when we peer through the large windows. The interior spaces are embraced by large sliding glass areas, allowing the majestic areas to unite with terraces and pool, also bringing them closer to the exterior natural setting: the top of Toix-Mascarat urbanization, in Alicante (Spain).

332 - Mediterranean Pearl by Architect Carlos Gilardi
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Published on Leave a comment on Spanish Lenders Took Back Nearly 50,000 Properties in 2013

Spanish lenders repossessed 49,694 homes from defaulting borrowers in 2013, a 10% rise from a year earlier, figures released on May 19th by the Bank of Spain show.

apartments in Costa del Sol 300x199 - Spanish Lenders Took Back Nearly 50,000 Properties in 2013Of these, 38,961 were first residences, according to statistics provided by the banks.

The vast majority of properties were empty at the time of repossession.

Meanwhile, the proportion of cases involving dation in payment, in which borrowers in arrears hand over the keys of the property to the lender that approved the mortgage to cancel debt obligations, reached 32.5% of all repossessed homes.

This represents a rise from 2012, reflecting the introduction of new legislation to make this option easier. Borrowers have mostly opted for key return in the case of holiday homes, not primary residences.
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