01:25 PM · Comments Off on Marbella gets property boost from new laws · Categories: News from Marbella Costa del Sol

Marbella gets property boost from new laws

The Council of Ministers has just granted the approval for a strategy which has been nervously awaited on the Costa del Sol. Foreigners who purchase a property or home for at least five hundred thousand euros are able to obtain a resident’s permit.

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The strategy is included within the planned legislation of ‘Support for Entrepreneurs and their internationalization , in the section that works with attracting talent and investment by way of a new regime of visas and residence permits.

The law, that the authorities hope should come in to motion on January 1st next year, is likely to make it much easier for residence permits to be issued for reasons of economic interests “through a fast and simple procedure and involving just one single authority” for people who meet the criteria, based on information that was given to the press following the Cabinet meeting had ended.

The actual measure had been recently talked about last November by the Secretary of State for Commerce, Jaime García-Laga, even though on that occasion he known a figure of 160,000 euros as the minimum amount of investment. Given that sum has been raised to five hundred thousand euros, which is the same as that agreed in related laws in Portugal and Ireland. It will apply to people who buy Spanish public debt of a minimum of two million euros.

An increase of a minimum property purchase price of 500,000 euros places the Costa del Sol at an full advantage in contrast to other locations of Spain which may benefit from the measure, due to the fact along the coastline of Malaga province, contrary to other locations of the Spanish Mediterranean, there is still a sizable stock of unsold properties in the higher budget range.

The vice-president in the government, Soraya Sáenz de Santamaría, defended this measure by arguing it is essential to be competitive so that you can attract investment, and that it is an initiative that currently exists in other countries close to Spain.

The law, which also incorporates those that bring investment which creates employment or that provides scientific and technological innovation, will make the administrative procedures easier for a non-European who would like to live in Spain. Until recently, foreigners from outside Europe who owned property or home had two means of enjoying it: also by acquiring a tourist visa which provides them the right to spend 90 days here annually or a permit that obliges them to spend six months of the year in Spain and send youngsters to school here.

Recently, foreigners’ groups and business experts in the province have been protesting and complaining the methods to renew these permits had become more and more difficult, particularly in cases where it is extremely difficult to provide evidence that somebody has effectively been resident in the country for 6 months of the year, or people whose children are at educational institutions overseas.

The approval of the government measure is welcomed by business experts on the Costa del Sol. The current president of the Federation of Developers, Ricardo Arranz, was delighted that the minimum amount of investment had been brought up to five hundred thousand euros, due to the fact in his opinion this implies support for the Spain brand abroad as well as ensures that the nation can be competitive on equal terms with adjoining countries. For instance, he explains that in Portugal there’re already contemplating raising the limit to one million euros since the stock of more affordable properties has already been covered. Ricardo Arranz says this is a shame that the measure has arrived overdue, however he does believe it will appeal to capital coming from rising marketplaces and healthy economies.

At the same time, the mayor of Estepona, José María García Urbano,also praised the actions which have been approved by the government, since “ they are going to help people who would like to do business and not people who want to survive on the taxpayer”. Particularly, he’s positive this maneuver will draw in capital to the property market and highlights that the Costa del Sol will be particularly appealing to buyers due to the stock of properties that have not yet been sold, a lot of which are valued at over five hundred thousand euros.

The mayor of Marbella, Ángeles Muñoz, was likewise delighted the new law does not only favour individuals who come here to buy a property, but additionally those who do so to provide jobs. “This is a legislation that supports innovation, the creation of wealth as well as the attraction of ability”, she stressed. “A town as vibrant as Marbella will plainly be alluring and may benefit”

The measure was also congratulated by the president of the Association of Foreign Residents on the Costa del Sol, Ricardo Bocanegra, in whose thoughts and opinions it will be a success provided that the new regulation can exist together with the law which is presently in force, under which anybody who can display they are financially solvent can reside in Spain. This lawyer remarked that the profile of a foreign resident has evolved due to the fact now nearly all these residents are not retired, but are professionals who still maintain their business in their countries of origin and also who travel frequently. Because of this, he is convinced that the responsibility to reside in Spain for at least six months of the year should be removed.

06:19 PM · Comments Off on Energy efficiency certificate Spain · Categories: News from Marbella Costa del Sol

The new law – Energy efficiency certificate Spain
energy certificate spain

The 1st of June 2013 was the date for the launch of the new obligatory Energy Efficiency Certificate for anybody who would like to sell or rent their property. Discover what it is, what it consists of and (most significantly) what is the actual cost is going to be for you.

What Is The Energy Efficiency Certificate?

All flats and houses constructed after November 2007 ought to currently have a certificate stating how efficient they are with regards to energy use. Nevertheless, for those built before that time frame it will be required to contract the expertise of a professional company which will perform the study and provide the certificate.This certification provides the information graphically via a colour-coded scale from A to G.
Why Do I Need One?, just like the labels that you can find on electrical appliances in shops. The certificate is going to be valid for a period of 10 years, nevertheless a home owner can voluntarily choose to obtain a new certificate ahead of the 10-year period before it runs out.

If you wish to sell or rent your home then you’ll be required to provide the certificate. Your property won’t be required to meet a particular standard, but a property which is possibly very efficient or deficient energetically may have an impact on the selling price.

If you already have got your property on the market (or rent) you need to request the certificate without delay and not wait until you sell or sign a rental contract. Whether or not sellers will be instructed to show they have the certificate in their ads (on-line or in newspapers) is uncertain at this time, but it wouldn’t shock us that in order to get more income municipal authorities will seize on this to fine those that don’t conform to the requirement.

How Will My Home Be Surveyed?

Make sure you choose a reliable company, because this certificate is completely new to Spain then we anticipate a lot of “cowboy” firms to be providing their services.

To begin with a company should ask for the information of the home (catastral) and check the plans to see the orientation (areas of light and shade). Once on your property they’ll examine what impact adjacent homes apply on yours e.g in case your flat is at the bottom or top floor this affects heat retention. Generally an organization will be considering the price to heat and cool the property, the amount it costs to generate hot water and whether or not the electrical installation is effective or not.

How Much Will It Cost?

It’s difficult to know exactly what cost is going to be levied by businesses as there may not be a rate predetermined by the respective authorities.

We have teamed up with a local reputable company and we can happily supply you with a quote click here to enquire.

Additional Points

Even though in theory all new homes built after 2007 ought to currently have this certificate, some Spanish districts happen to be negligent in reinforcing the legislation also it may be that your home doesn’t have one even though it’s a new build – you will need to check.

Many individuals also have criticised that the certificate is not going to take into account current materials found in your home – for instance if you’ve installed ceramic flooring that in the winter captures warmth via the sun’s rays and emits it in the evening this will not be taken into consideration.

There will be dishonest companies that may offer an energy certificate for a low cost without having visiting your home. In addition to the fact that this is simply not 100 % legal, you will likely be given a certificate which has a score far below what compares to your property, therefore negatively impacting the value of your property.

click here to get a quote now!

03:25 PM · Comments Off on The fall in property prices decreases in Spain · Categories: News from Marbella Costa del Sol

In March, the average house price fell gradually, year after year, to 10.7%, compared with 11.6% drop registered in February, after tax benefits for home ownership were removed from January 1st 2013.

Considering the drop in March, the cumulative realignment of housing prices has come out at 36.3% from the highs it reached in December 2007, before the beginning of the economic crisis.

spain-new-house-prices-drop-to-2003-levels

New-house-prices-drop-to-2003-levels

Metropolitan areas suffered the largest declines in March, with house prices falling by 14.3% year on year, followed by capitals and major cities, with an yearly decline of 13.7%, and then the Mediterranean coastline, where the prices fell 10.7%, year after year, that coincides with the overall average.

Below average are the Balearic and Canary Islands, a decline of 5.2% annually, and the remainder of their municipalities that fell 6.3%.

Since December 2007, the cumulative decrease in house prices has reached 41.9% on the Mediterranean coast, 40.3% and in major cities, 39.5% in metropolitan areas, 29.6% in other towns, and 29% in the Balearic and Canary Islands.

02:57 PM · Comments Off on Russian buyers over-take the Germans · Categories: News from Marbella Costa del Sol

When we analyse thoroughly the preferences of this group, we find that most Russians are searching for homes on the Mediterranean coast particularly in Torrevieja Alicante, Valencia and Murcia, where there is already a large colony of Russian citizens.

In second place is Barcelona, Marbella and just lately the Canary Islands, as outlined by statistical information requests received in one of the most favoured real estate portals in Russia.

As far as selling prices are concerned, 60% of the consultations are below € 100,000, 15% below € 150,000, another 15% below € 300,000 and a reputable 10% of consultations over 300,000 €.

In a nutshell, Russian housing demand in Spain has adopted a clear upwards pattern since the beginning of 2007 and they seek sun and well priced properties.

Furthermore there is a group of Russian citizens with high economic capacity and a specific requirement that we should not, for any reason neglect when we establish our strategy to capture demand from Eastern Europe.

All signals are this trend will continue in the coming years and who is to say if they get to oust the British and French position of the first and second position respectively.

01:55 PM · Comments Off on Transactions made by foreign residents in Spainish real estate experience growth · Categories: News from Marbella Costa del Sol

The Spanish property market continues to pick up in tourist hot spot areas, whilst other areas recorded falls in sales and between January and March 2013, 54,512 homes were sold.

The statistical results of the residential property transactions made ​​before a notary show that in the first quarter of 2013, 54,512 homes were sold in Spain, representing a drop of 21.5% from the first quarter of 2012.

Luxury Villa

Luxury Villa, Golden Mile, Marbella

In the last twelve months period April 2012-March 2013, residential real estate transactions made ​​before a notary totaled 348,715, representing an increase of 1.3% over the previous 12 months.

In relation to the territorial distribution of transactions, all regions recorded falls except for Murcia-year, with sales increasing 10.3%.

By provinces, four recorded annual increases, Alicante (10.5%), Murcia (10.3%), Almeria (7.9%) and Tarragona (6.6%). Among those with negative changes include Ávila, with decreases of 51.2%, Navarra (-49.5%), Soria (-48.5%), Salamanca (-45.6%) and Álava (-45.3 %).

With respect to the last 12 months, ten communities recorded growths, especially La Rioja, 12.7%; Aragon, 11.7% and Murcia and Valencia, with 10.8%. Meanwhile, eight communities and autonomous cities recorded declines, highlighting Navarra (-21.5%) and Cantabria (-14.5%).

With regard to the nationality of the buyer, the transactions made by foreign residents in Spainish real estate experienced growth for the seventh consecutive quarter, in particular by 5.0% from the first quarter of 2012, with 8,457 purchases.  Stresses that the percentage of all purchases made ​​by foreign residents amounted to 15.5%, the highest of the series.

By provinces, those with the highest number of purchases by foreign residents are Alicante (2,485), Malaga (992), Tenerife (771), Barcelona (652) and Almeria (471).