July 2007    

 

 

Features Advice News Strange But True
 
 

Our property of the month is a new golf development  situated in Campos del Rio, Murcia. The Trampolin Golf Resort boasts an exclusive 18-hole golf course, restaurants, bilingual primary school, supermarkets, health clinics and a shopping centre. Surrounded by two million square metres of green land, the resort is only at a 35 minute drive from the coast and 15 minutes from the airport. There is a wide range of villas, apartments and penthouses, all of impeccable quality with Jacuzzis, swimming pools and private terraces attached to some of the properties.

 
 
     
 

Apartments
Zahara (2 beds, 2 baths) 140.000€ (+ VAT)
Granada (3 beds, 2 baths) 160.000€ (+ VAT)
Penthouse (2 beds, 2 baths) 220.000€ (+ VAT)

Villas (1st line – 2nd line)
Triana (4 beds, 3 baths) 265.000€ – 245.000€ (+ VAT)
Sevilla (4 beds, 3 baths) 280.000€ – 260.000€ (+ VAT)
Alhambra (4 beds, 3 baths) 310.000€ – 272.000€ (+ VAT)
Macarena (3 beds, 2 baths) 250.000€ – 200.000€ (+ VAT)

*Golf shares included in the prices

 
     
 



Spain's Coasts in Danger, Greenpeace Warns

Uncontrolled development along Spain's beautiful shorelines is having a decidedly adverse effect on the coastal ecology, warned Greenpeace in a report issued recently. This rampant construction also endangers Spain's vital tourist industry.

The report states that "The numbers demonstrate the failure on the part of local administrations to find a solution to the problems of the coastline and the need to adopt important reforms regarding the management of the coast to put the brakes on the coast's destruction."

The report also mentions that developers in Spain plan on building over 200,000 hotel rooms, 300 golf courses and 100 marinas along Spain’s coastline. These developments threaten to damage environmentally sensitive areas that are a big part of the reason why millions of tourists visit the country each year.

Although the Spanish economy has done a good job of diversifying its strengths (the real estate boom during the last decade being one example), the tourist industry still accounts for a huge part of its GDP (currently 12%).

It's a well-known fact in Spain that much of this construction along the shore is actually illegal. Spanish authorities are currently investigating over 200 cases of corruption and illegal building along the famously sunny Costa del Sol.

News of corruption at the highest levels of Marbella's local government last year spanned the globe as one politician after another landed in jail, thanks to illegal construction. By the time the dust settled even the mayor, Julian Muñoz, found himself behind bars.

The Spanish Ministry of Environment didn't respond directly to Greenpeace's report, although spokesmen claim the government is also engaged in efforts to protect the coastline from over-development.

It is true that a number of new developments (large, state-of-the-art holiday resorts among them) that were constructed without permits have been destroyed by the Spanish government in an effort to discourage further illegal development.

Nevertheless, the European Parliament has attacked Spain for allowing the current situation to come about, blaming – among other factors – Spain's laidback construction laws, corrupt politicians and money-hungry developers.

The Parliament stated that Spain's over-development problem has had a "disastrous effect" on Spain's environment, particularly in Madrid and along the Mediterranean coast.
 

More features on the Spanish property sector:



Spanish Property Buyers Warned: Get Your NIE Before you Buy

Changes in Spanish law mean that foreign buyers must have their NIE number arranged before buying property. Banco Halifax Hispania, the Spanish arm of the Bank of Halifax has warned potential buyers that failure to obtain the number could delay a purchase or even prevent buyers from being able to complete on their dream home.

The NIE or "Numero de Identificacion de Extranjero" is an identification number for non residents. Previously, British citizens buying in Spain were able to buy property before obtaining an NIE. Recent changes in Spanish law now require all foreigners buying a property in Spain to obtain an NIE and its accompanying letter before completing on a purchase. It is essential to apply for your NIE well before you are looking to buy a property as it can take two to six weeks for your number to be processed.

The NIE is essential for foreigners living in Spain and is a requirement for a range of basic things from getting connected to a telephone to applying for a driving license.

You will need an NIE for all of the following:

  • Setting up utility connections for electricity, gas and the telephone, you cannot be connected without an NIE
  • Carrying out any substantial financial transactions
  • Applying for a Spanish driving licence and to validate an EU driving licence
  • Applying for a business permit
  • Any dealings with the tax authority, including rate payments
  • Making purchases above 3,000 euros
  • Inheriting any Spanish assets

There are a number of ways to obtain an NIE and it is possible to get one before or after moving to Spain. You can apply in person to the Oficina de Extranjeros (Foreigners' Department) at your nearest Policia Nacional (National Police Headquarters). This used to involve an early morning start to avoid queuing as only the first 70 applicants were processed each day, but this restriction has also been lifted.

If you need to apply outside of Spain you can do so either through the Central Police Headquarters in Madrid or through your local Spanish consulate. In addition to the documents listed below, applicants applying for an NIE whilst still in the UK must also include two recent passport sized photos, a self addressed envelope and an envelope addressed to The Central Police Quarters in Madrid, which is large enough to contain all the above documents plus the NIE application form.

When applying for an NIE, an applicant from the UK must provide the following documents:

  • Completed and signed original application form and a photocopy of the completed form
  • Passport (original and photocopy)
  • Address in the UK and address in Spain (you are able to the address of a friend, solicitor or estate agent if you do not already have a property in Spain)
  • Written justification of why you need the NIE (issued by an accountant, a notary, a solicitor, an estate agent, a bank manager, an insurance agent, a future employer, etc.)

Once you have collected your NIE, it is advisable to make several photocopies and keep the original in a safe place. As many different bureaucratic processes require a copy of your NIE, it is important to ensure you keep track of it at all times. You will also need to make the local Policia Nacional aware of any changes to your address. Source: firstrung.com

 

More Spanish property investment advice:



Spain Top for First Time Brits

A quarter of young people in the UK are considering buying property abroad in an attempt to get on to the UK property ladder, new research has revealed.

A National Savings & Investments (NS&I) survey found that 27 per cent of prospective first-time buyers would seriously consider buying overseas to help themselves on to the first rung of the property ladder.

First time buyers are being priced out of the market in the UK where property prices are notoriously high. Out of all the potential destinations in which to buy property, Spain proved to be the most popular, with 43 per cent of prospective buyers considering the country to be the most attractive option. Australia and New Zealand were the next most popular, with the USA in third place.



 

Banco Santander to Enact Biggest Property Transaction in Spain’s History

Banco Santander Central Hispano announced last month its plan to sell off all of its real estate assets in Spain, excluding their headquarters in Santander. A total of 44 buildings and 1,200 branch offices will be sold in what will be the largest property transaction in Spain’s history; the Spanish bank expects to profit from it by around 1.5 billion euros. After the sale, Santander will lease back its holdings.

The money raised from the sale will help finance the planned joint purchase of Dutch bank ABM Amro, which the bank is currently bidding for together with Royal Bank of Scotland. However spokesmen of Santander have claimed that their holdings will be sold whether or not the Dutch bank is successfully purchased.

This large property transaction comes at a time when many professionals are expecting a change in Spain’s real estate industry. Consensus has it that the property market is at its peak, and the most positive scenario at this point is one of a moderate downturn in prices.

The sale also points to a wider trend in the business world of large companies selling off their real estate, such as was the case in 2000 when UK mortgage lender Abbey (which was later purchased by Santander in 2004) sold its holdings.

More recently, Barclays Bank sold its Spanish headquarters and Argentinian-Spanish oil company Repsol is in the process of doing the same with its central offices in Madrid.



 

Watchdog Warns Buyers: Check, then Check Again

A European estate agents' watchdog is warning home buyers in Spain to check that their property has planning permission before they buy.

The warning follows an investigation by the European Estate Agents Union (EEAU) into several companies working in the Albox region of Spain. The EEAU has expressed concerns that many buyers are rushing into property purchases without checking that the building is legal.

The EEAU has been contacted by a number of home-owners who have bought properties in areas like Almeria and Almanzora, only to find out they do not have planning permission. Andy Marchant, co-founder of the EEAU, said: "Spanish property law is complex and you need a good independent solicitor working for you."



 

Expat TV

The Costa del Sol may soon have its very own TV Channel transmitting 16 hours per day. The new channel will be aired on the Sky Digital network to the UK and Ireland. According to property expert Iain Maitand, Living in Spain TV is a local community channel depicting life in Spain as it really is with real life stories of expats who have relocated in Spain.

“It will provide a voice for the expat community and will make essential viewing for anyone planning to move there.” Expats have a big presence in the Costas and there are many web forums with great practical advice for those planning a move.



 

Spain Gets Green to Fight Gases

Spain is beginning to react to its growing problem of greenhouse gas emission. Madrid and several other regional governments within the country will plant millions of trees to offset pollution.

Since 1990, when the Kyoto agreement was signed by most developed nations to regulate global warming, Spain’s emissions have grown by almost 50%.

In Castilla-La Mancha, the local government claims to have increased its forested area by around 7 million acres, and plans to plant an additional 20 million trees in the next four years.

Madrid has combated its mad traffic by creating numerous parks and green spaces (it claims to be one of the cities in the world with the most parks), and plans to create even more green spaces via vertical gardens that will hang from the sides of buildings.



Men Get Horny and Women Adamant at Pamplona's Bull Run

The fifth day of the running of the bulls in Pamplona was just about to go off without a major hitch until, seconds before the end, a 31 year-old Spanish man was tossed up into the air by a fighting bull and gored in the left buttock upon landing.

During the run, which lasted slightly over three minutes, three other Spaniards were treated for light injuries. Most were due to falls suffered during the event (in which hundreds of participants run alongside six charging bulls). One case involved a man who recovered from a fall only to run straight into a furious bull.

On the flip-side of the sexual spectrum, a group of female Spanish students posted a demand on the student website www.estudiln.net that Pamplona initiate a cow run for women: "A little exercise after so much alcohol and food would do us no harm," the petition - which sought to establish sexual equality in Pamplona's famous festival - stated.

The cow run for women idea was rejected by city representatives, on the grounds that women (albeit few) do run alongside men during the Pamplona bull run, and establishing an all-female run would in fact be sexist.

 

From NYC to Spain... in a Straw Boat?

Dominique Gorlitz, a retired teacher from Germany, is hot to prove that ancient seamen could have crossed the Atlantic in a reed boat. All too aware of the customary phrase "better said than done," Gorlitz will set out to achieve the feat himself and put all speculation to an end.

He won't be travelling alone, however - at least technologically speaking: GPS and e-mail will be his constant companions, if all fares well.

Gorlitz believes that voyages similar to the one he'll be attempting were succesfully undertaken even 12,000 years before Christopher Columbus set sail for an elusive India.

Academics are hesitant to believe Gorlitz's outlandish assertations, perhaps even as strongly as Columbus' contemporaries rejected the idea of a rotund planet. Gorlitz points to evidence such as traces of tobacco and cocaine in the tomb of Egypt's Ramses II to prove that not only did the pharaos know how to party with the best of them, but there must have been a way of getting non-indigenous products from one continent to another.

 

Spanish Teeth Radioactive?

Several recent reports put the trustworthiness of toothpaste sold in Spain into serious question. In one case, it was found that illegal imitations of the Colgate brand, which were being produced in South Africa, were being sold in large numbers throughout the country. The toothpaste was found to contain traces of harmful substances.

A more recent development involves the withdrawal of two brands produced in China, Spearmint and Trileaf Spearmint, from the Spanish market. Both products were found to contain traces of diethylene glycol, a chemical used as a solvent and in antifreeze.

The commissioner of the EU's Consumer Protection office has stated that the these products pose a "moderate immediate risk" to consumers.