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Tag: malaga
British fund to invest 25 million euros in five luxury villas in Marbella
The London-based British fund Pacific Investments has announced plans to invest 25 million euros in the construction of a complex of luxury villas in the Sierra Blanca area of Marbella.
The exclusive project is aimed at a privileged few, buyers with very high purchasing power; there will only be five properties in total, and the price is expected to be around seven million euros each.
The complex, which was launched by the director de Pacific Investments, Mark Johnson, and the head of Penna Properties Partners in Marbella, Christopher Penna, has been designed by the Torras y Sierra architecture studio, which also designed the Finca Cortesín hotel.
The construction of the villas will begin as soon as the council has issued the works licence – this should be done within the next few weeks, they say – and the site chosen for the exclusive development is the area known as Cascadas de Canoján, in the upper part of Sierra Blanca.
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Seven out of ten properties sold to foreigners in Andalucía are located in Málaga province
The Costa del Sol is still the number one choice in Andalucía by a long way when it comes to attracting foreign property buyers.
Between January and July this year, there were 4,978 registered real estate transactions to non-Spanish purchasers in Malaga province, an increase of 16.9% on the same period in 2015.
According to official Spanish government data, this accounts for 70% of the residential properties sold to foreigners throughout the whole of Andalucía.
On a regional level, the number of properties bought by foreigners in Andalucía increased by 18.9% in the first six months of this year. The 5,973 transactions in the same period in 2015 rose to 7,105 sales in 2016.
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Superb Apartment for Sale in Benahavís, Costa del Sol, Málaga
A single family house for a painter in Gaucín, Málaga, by DTR_studio architects
This house was designed in 2015 by DTR_studio architects. The photographer is Cristina Beltrán.
Brexit has not affected property sales so far, say Costa del Sol real estate experts
Is a weak pound and the uncertainty accompanying the Brexit vote having or likely to have an impact on the British demand for property in Spain?
While demand for property has been growing since 2013, a reversal is anticipated given that the market for UK buyers is driven by the strength of sterling.
It is also expected that the buying pond for British owners wishing to sell and return to the UK may also evaporate somewhat in the short term.
However this is not a view shared by those on the ground. Gary Oliver, sales director of Remax property agents, thinks not.
“We do expect some buyers may hold off to see what the coming weeks and months will bring but with little long term impact,” he says.
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Owners of holiday homes must give the police details of all clients who stay there
Security is becoming increasingly important these days and the owners of more than 5,660 holiday homes in Malaga province who have registered their properties with the Junta de Andalucía are 
also required to provide the police with details of every client who stays in their property.
The Register of Tourist Accommodation in Andalucía has only recently come into force, and many owners of holiday accommodation may not be aware of this additional requirement. However, the governmental sub-delegate’s office in Malaga has confirmed that people who rent a property to tourists must pass on the identity details of the clients to the Citizen Participation Unit of the police force, just as the hotels have to do.
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Bright Detached Villa for Sale in Benalmádena Costa (Málaga)
The effect of Brexit on the Costa del Sol
The United Kingdom's exit from the European Union is a terrible piece of news for the Costa del Sol, where the British are its biggest and most important customers, and also some of the highest spenders. From now on there are just unknowns and a lot of nervousness.
Last week, the president of the CEA (Andalusian Employers' Association), Javier González de Lara, warned that Britain leaving the European Union would have serious consequences for the Spanish economy, with tourism, although not just tourism, being the main loser.
Since the referendum there's been a 10% fall in the value of the British Pound. This means that Britons' holidays in Spain have become more expensive overnight as, although the Euro has also fallen, it hasn't done so as much as the Pound. This will mean less tourists will visit and less buying power for those that still come. The current average daily spend by the British is 105 euros, higher than the Germans (101 euros) and the French (80 euros).
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Low cost beach holidays in Spain
1. Holiday rental villa in Benissa (Alicante)
2 bedrooms, 1 bathroom, Area Lot 800m2, Built area 100m2, Swimming-pool, Seaside Resort, In Urban Area, 425 €/week
