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Published on Leave a comment on Good news to illegal property owners in Andalucía

The president of the Junta de Andalucía, Susana Díaz, stated in Wednesday’s state of the region debate that her government plans to apply changes to Andalucía’s planning laws, or LOUA, which could regularise up to 3,000 illegal properties in Malaga.

46353 1419145 foto 997489 300x225 - Good news to illegal property owners in AndalucíaThe proposed modification refers to Article 185 of the LOUA which states that subdivided plots of land are subject to urban planning and the necessary regulations. Changes to the existing article would allow buildings on these plots to be included in Decree 2/2012 - not previously permitted - which regularises illegal properties under something called ‘asimilado a fuera de ordenacíon’. This measure, while not permitting full legalisation and the granting of primary occupation licences, does permit property owners to access basic services such as electricity and water.

However the reform will only affect small subdivided plots of land - into two parcels or more - and not those on which whole residential estates have been built. Nor does it affect those plots built on protected land or flood plains.

In spite of this the measure could benefit, in terms of Malaga province, around 3,000 homes or six per cent of the total number (estimated at around 50,000) of illegal properties. The figure rises to 20,000 to 25,000 in the whole of Andalucía.
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Published on 2 Comments on Wonderful Holiday Rental House in La Herradura, Granada

5 bedrooms, 4 bathrooms, magnificent views to the bay, La Herradura, Granada

185 - Wonderful Holiday Rental House in La Herradura, Granada
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Published on 1 Comment on The Alcazaba of Málaga

This fortress palace, in Málaga city, whose name in Arabic means citadel, is one of the city's historical monuments and is much visited because of its history and beauty.

Alcazaba Málaga 11 e1475668615783 - The Alcazaba of Málaga
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Published on Leave a comment on A new project for 112 state-of-the-art apartments in Marbella

Sierra Blanca Estates proposes to build The World Marbella on land where it had planned one of the skyscrapers that were rejected at the beginning of this year.

Marbella beach 300x187 - A new project for 112 state-of-the-art apartments in MarbellaThe five continents will no longer be represented in Marbella solely by the residents who hail from all over the world. Europe, America, Asia, Africa and Oceania, will give their names to the five sections of a new real estate development, a ‘microworld’ that will boast innovative design, top-of-the-range materials and as many services as residents could ask for.

The World Marbella is the name of Sierra Blanca Estates’ new project to be built on the site just metres from the Golden Mile where they had envisaged building one of the infamous skyscrapers that ended up being rejected by residents and council at the beginning of this year.

The scheme is attractive on paper and a select group of real estate firms are already showing it to potential clients - but only those who might be able to afford the between 1.3 and 3.4 million euros that these exclusive apartments are going on sale for.
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Published on 1 Comment on Rey Juan Carlos Hospital in Madrid, by Architect Rafael De La-Hoz

A new hospital in Madrid (Spain) replaces traditional clinical spaces with calming, green medical units and open areas.

The building is designed as three volumes; the large base holds the upper two prismatic glass towers. The base contains the core shared areas, encourages horizontal circulation and connects to the outside.

Rey Juan Carlos Hospital - Rey Juan Carlos Hospital in Madrid, by Architect Rafael De La-Hoz
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Published on Leave a comment on House prices in Spain rise for the first time since the beginning of the crisis

The Spanish real estate market experienced its first good news after a slump lasting over six years in the second quarter of 2014.

spanish apartments 300x300 - House prices in Spain rise for the first time since the beginning of the crisisBetween April and June house prices rose for the first time since early 2008, according to figures released by the National Statistics Institute (INE).

The Housing Price Index grew an average 0.8 percent compared with the same period in 2013, the numbers show.

Broken down by type of housing, the price of new homes rose 1.9 percent while that for existing homes grew 0.2 percent.

The drop in house prices had been slowing for several quarters, suggesting a gradual market recovery. The sharpest decline was registered in the third quarter of 2012, when prices dropped 15.2 percent compared with the same period in 2011.
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Published on 3 Comments on Dream Home in Mallorca, Balearic Islands

This stunning five bedroom, five bath, Port d'Andratx villa, takes full advantage of its enviable location, on the island of Mallorca, by making sweeping views of the port visible in nearly every room. Combined with plenty of comfortable, modern furnishings both indoors and out make this an ideal space to make a home or simply spend a summer.

villa in Mallorca - Dream Home in Mallorca, Balearic Islands
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Published on 2 Comments on American company to invest 200 million in real estate projects on Marbella

Real Capital Solutions (RCS) is one of the leading American private capital investment companies specialising in property and the re-capitalisation of investment portfolios of developments that are ‘in difficulty’.

Marbella3 300x200 - American company to invest 200 million in real estate projects on MarbellaBased in Colorado, this extremely successful business is now moving in on Marbella as it begins its expansion into Europe.

The plans for the company, now on Malaga soil, are to invest an estimated 200 million euros into property development in the area within the next four years. The firm has already paid out 15 million euros in the purchase of two housing developments that were in the hands of Spanish banks. The new division of the company, RCS Spain, has acquired Cosmo Beach (between San Pedro and Estepona) and Valley Heights (on the outskirts of Benahavís). This area is better known to investors as the ‘Golden Triangle” (Marbella - Estepona - Benahavís).

Taylor Cox, Partner at RCS, reveals how 14.95 million euros will be invested into both projects (consisting of around 100 properties), which includes the maintenance costs and the down payments.
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Published on Leave a comment on Beyond Luxury: Villa Chameleon in Mallorca

Villa Chameleon is located on Majorca (Balearic Islands), high above the Bay of Palma in the hills of Son Vida. After five years of construction, an estate has been created that is in many respects exceptional and sets new standards: its exposed location, its timeless and transparent architecture blending into nature and its state-of-the-art technical realization with a number of groundbreaking highlights (photo credit by Benjamin Antony Monn)

Villa Chameleon 1 e1409127640244 - Beyond Luxury: Villa Chameleon in Mallorca
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Published on Leave a comment on Zara founder Amancio Ortega earned €93.3 million last year in real estate profits

The vast fortune in the hands of Amancio Ortega, founder of Inditex – the parent company of clothing chain Zara – keeps growing.

Picasso Tower 200x300 - Zara founder Amancio Ortega earned €93.3 million last year in real estate profits
Picasso Tower

But the profits are not just coming in from his retail fashion outlets, which also include brands such as Bershka, Massimo Dutti and Oysho.

Ortega’s real estate activities are becoming more profitable every year. Pontegadea Inmobiliaria, the company that he uses to invest in office and retail space, posted net profits of €93.3 million last year, a 32% increase from the previous year, according to the company’s filings with the Spanish Business Register.

The Galician tycoon’s property company specializes in scooping up buildings on the best streets of the world’s major cities. Most of these buildings already have occupants, and Ortega becomes their new landlord. The building housing the Apple Store in Barcelona and the Picasso Tower in Madrid are among the properties in his portfolio.

In 2013, Pontegadea collected €98.5 million in rent, €4.3 million more than in 2012. Of this amount, €75.7 million came from Spanish investments and €22.7 million from foreign tenants.
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