Los Naranjos de Marbella: Real Estate, Apartments, Villas, Investments, Commercials, Mortgages, Home Values
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The global real estate agency brand Fine & Country organised in Barcelona’s Liceu the 14th of June 2017 and the following day in Marbella at Hotel el Fuerte presentations made on subjects like Brexit, and the Spanish Golden Visa scheme.
In that presentation there were many factors that Antonio Caracuel, CEO at Caracuel Abogados with offices in Marbella, Barcelona, and Valencia – pointed at his ‘Golden Visa’ scheme, and pointed out that Barcelona is the most popular destination for Golden Visa investors by a wide margin at the moment.
Getting the Golden Visa the investors and clients will get the Spanish Residence but also they will be able to travel any of the 26 Schengen Countries.
Schengen Countries
Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland (not a European Union Member State), Italy, Latvia, Liechtenstein (not a European Union Member State), Lithuania, Luxembourg, Malta, Netherlands, Norway (not a European Union Member State), Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Swiss (not a European Union Member State).
| Properties Sold with Golden Visa Application (2.013 - 2.016) | |
|---|---|
| Alicante | 151 |
| Barcelona | 893 |
| Gerona | 91 |
| Madrid | 306 |
| Malaga | 348 |
| Valencia | 77 |
| Rest of Spain | 227 |
| TOTAL | 2.093 |
I) OBJECT, DURATION AND RENEWAL
This new system visa allows you to enter and reside in Spain for a period of 2 years.
This visa allows to circulate freely and without restrictions in the ‘Schengen Area’ (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland).
Together with the investor, his/her family can also benefit: spouse and children under 18 years of age or of legal age but economically dependent.
According to the Article 67 the initial authorization of residence for investors will last two years (subject to the provisions of Article 66.3 for property purchases normalization).
Once this time period has expired, those foreign investors wishing to reside in Spain for a longer period of time may apply for the renewal of the residence permit for successive five-years periods, providing the conditions generated the right are maintained.
The granting of a "Authorizaton of Residence" (Golden Visa) for investors constitutes title enough to live and work in Spain during its term.
II) PROCEDURE
In accordance with the Law 14/2013, holders of a temporary visa or residance permit that are legally in Spain can apply for a Authorization of Residance for investors (you can apply for the Authorization of Residance without previously having obtained a visa as investor if the applicant is legally residing Spain).
This application is processed in the Directorate General Office of Immigration and specifically in the Large Companies and Strategic Economic Sectors Unit Office.
The Authorization of Residence has a duration of two years.It can be renewed providing the conditions generated are maintained.
The applications may be submitted by the interested party or through a representative.
III) REQUIREMENTS
A).- INVESTMENTS IN PROPERTIES IN SPAIN
The minimum investment of €500,000.00 need not only refer to one property but may relate to several properties where the total investment amounts to € 500,000.00 or more.
The applicant must certify that he/she has acquired the ownership of the property by certification and encumbrances from the Land Registry which corresponds to the property/s.The certification may include an electronic verification code for its online consultation. This certification must include the amount of the acquisition; or it must be accredited by means of the corresponding Public Deed.If, at the time of the visa application, the real estate acquisition is pending registration in the Land Registry, it shall be sufficient to submit the before mentioned certificate including the validdocument filling entry, together with the document certifying payment of the applicable taxes.
The applicant must acredit having made a property investment of 500,000 Euros free of all liens or encumbrances. The portion of the investment exceeding the required amount may be subject to liens or encumbrances.
B).- Capital investment
To be considered one of the following criteria must be fulfilled:
a) One million Euros in company shares or stock of Spanish capital companies with an actual business activity.
The applicant shall provide proof of having made the investment for the minimum amount required, within a period not exceeding one year after filing the application by the copy of the investment declaration recorded in the Foreign Investments Registry of the Ministry of Economy and Competiveness must be submitted
b) Two million Euros in Spanish Public Debt.
The applicant shall provide certificate submitted by the financial institution or the Bank of Spain, indicating that the applicant is the sole holder of the investment for a period equal to or greater than 5 years.
c) One million Euros bank Deposited Investment.
The applicant shall provide a certificate submitted by the financial institution, stating that the applicant is the sole holder of the bank deposit.
d) A business project predicted to be carried out in Spain that is deemed and proved to be of general interest. It is necessary to submit a favorable report to prove that the business project submitted there are grounds of general interest. The report must come from the Economic and Commercial Office from the geographical area where the investor files the visa application.
IV.- BENEFICIARIES
a) The Investor.
b) The spouse or person with a similar affective relationship.
c) Minors
d) Those of legal age who, being financially dependent on the holder, have not formed a family unit for themselves.
e) The parents in their care, who accompany or join the foreign nationals, jointly and simultaneously or successively, for an authorization and, where applicable, a visa. To do this, evidence must be provided of being in compliance with the requirements stipulated .
V.- DOCUMENTS TO PROVIDE AT THE APPLICATION
1) Application form duly completed in block capitals or typed.
2) Full copy of the passport with validity at least of one year.
3) Payment of rate (tasas).
4) Proof sufficient economic resources for oneself and one’s family during the period of residence in Spain.
- For one person( the applicant) , is necessary to proof that have an income of €2.130, 04 per month.
- For the support of each of the dependents, during their residence in Spain, € 532.51 per month per family member.
- Certified checks or credit cards, which must be accompanied by a bank certificate stating the amount available as credit card said.
- By documents proving that an amount received monthly fixed permanently, or for life, which may arise, for example, a pension fund (perceiving a monthly salary would not be considered valid because it is not considered permanent), or a state pension, etc...
5) Proof of being holder public or private health insurance with an insurance company authorized to operate in Spain or directly a Spanish health insurance company.
6) Criminal Record issued by the competent authorities of the country of residence. This document needs to have an official translation into Spanish and Apostile of La Haya
7) For family members of the applicant:
a) Application form duly completed in printed capitals or typed.
b) Full copy of the passport with validity least one year.
c) Payment of fees ( tasas)
d) Proof of the marriage bond or affiliation through marriage certificate of a couple and birth certificate of childrenleaglly translated and legalized. Original and photocopy.
e) Criminal Record issued by the competent authorities of the country of residence. This document needs to have an official translation into Spanish and Apostile
VI.-CONCESSION
1) According to Article 76 of the Law, the maximum time for the resolution of the application for a residence permit shall be twenty days.
2) Once the authorization (or licensing) of residence is aprroved, the investor and their families must personally apply for Identity Document at the Provincial Police Station in which they have established their domicile in Spain.
When documents from other countries are provided theses ones must be translated into Spanish or the co-official language of the territory where the application is presented.
(Information provided by Caracuel Abogados)
What Does “Buying Off-Plan” Mean?
Buying off-plan property means purchasing property – typically an apartment or villa – in advance of its completion.
Off-plan property is typically sold prior to construction beginning at a significant discount (between 15% to 40%), often with a small deposit requirement (around € 6.000).
Advantages of Buying Off-Plan Properties in Spain
- Real estate prices in Marbella and the rest of the Costa del Sol are rising steadily, and although there’s no guarantee that a home or apartment worth € 300,000 will be worth € 420,000 next year, residential property in Marbella has shown itself to be a safe asset class.
- Buying off-plan lets you purchase property at a price that could be below its future market value and the principle has become a commonplace method of sale across the country; although Marbella and surroundings , due to the exclusivity, best weather, potential returns on capital, and a strong rental market, is where most off-plan purchases take place.
- Buying off-plan is ideal if you want to resell the property once it’s finished. In order to purchase off-plan property, you usually need to provide a deposit of just 10-30% of the property’s value, making securing the property simple and affordable.
- Whether you plan to resell or live in the apartment, one of the biggest advantages of buying off-plan is selection. Unlike in completed buildings, you can usually select the ideal unit to suit your needs, tastes and budget when buying off-plan property.
- In a rising market as the Spanish market that in average is rising 4% in prices and 10% in number of sales, some developers will permit the contracts to be sold on, which means purchasers can take a profit on the unit before it is built by selling the contract or "rights" to another party.
- The Evolution of the price of housing 2nd hand in Málaga is rising from 2.014, more than in the rest of Spain.
- The number of homes sold continues to grow in Marbella, Benahavis, Ojen and Estepona from 2.012.
- As none of the developers built new developments in Marbella and surroundings for almost 8 years, there is a lack of modern / contemporary developments and properties in the Spanish market, so the existing demand is really high between those who were waiting to buy the functional and new modern style apartment or villa they really want.
Disadvantages of Buying Off-Plan Properties in Spain
- Buying off-plan property is far from risky, but after the boom and crash in the real estate market in Spain, the majority of developers are now offering a deposit guarantee for extra security and peace of mind. However, it’s obviously not as certain as buying a new and completed or pre-owned property which you can ‘touch and feel’.
- There’s also the possibility that the property you purchase doesn’t increase in value as much as you expected, or at all, during its construction. To ensure optimum ROI, it’s best to look for off-plan properties that have been built by reputable developers, within areas with growing levels of investor demand. Developments near transport facilities, sea, Puerto Banus or Marbella always tend to do well and areas undergoing regeneration are sure to see an increase in capital value.
What people think about Buying Off-Plan
- Buying off-plan used to be thought of as risky, particularly during periods of poor or unstable economic performance. However, deposit guarantees and the steadily performing Marbella property market, have made buying off-plan property steadily more popular throughout the last 20 years to the extent where it has become commonplace in the Spain property market.
- Off-plan property has been suggested by leading property experts as a good idea for maximising your buying power and potential return on investment. In 2014, The Telegraph referred to it as “a dead cert way of getting more for your money”.
What investors think about Buying Off-Plan
- The best deals on off-plan property tend to be available to investors and cash buyers who buy multiple properties. If you're a buy-to-let investor, you'll get the best rental yields and capital growth. If you''re a buy-to-sell before completion you could be making a 10-20% (or even more) profit in less than 1-2 years.
Buying Off-Plan Property in Marbella and surroundings
- Buying off-plan property is simple, especially with the large amount of development going on in Marbella and surroundings today. A wide range of apartments, from studios to large family apartments and houses, are available for purchase off-plan.
- The point is to pitch the right development and the right property or properties "in" the development. Factors as orientation, block, floor, extra space, etc. are extremilly important. For this issue, you will need to trust and work hard with the best local real estate agent, that knows all the pros and cons of developments and areas.
Real Estate Dictionary (Spanish - English)
Written by Moises E. Fernandez
| Abogado | Lawyer/solicitor (see also Solicitor fees in Spain) |
| Administrador de fincas | Spanish licensed property administrator or Community Administrator |
| Agente de la Propiedad | Property Agent or Estate Agent |
| Amortización | Repayment of loan/mortgage, depreciation |
| Arbitraje | Arbitration |
| Arras | Down Payment, deposit |
| Arrendador | Landlord |
| Arrendatario | Tenant |
| Aval | Loan guarantee or Bank guarantee |
| Avalista | Guarantor (of a loan) |
| Bungalow | 2 or 3 storey terraced house |
| Caja de ahorros | Spanish savings banks |
| Cargas | Charges, burden, arrears |
| Catastro | Spanish Land Register |
| Cláusula | Clause or conditions in a contract |
| Cláusula abusiva | Unfair/ abusive clause in a contract usually to the detriment of the consumer |
| Cédula de habitabilidad | Certificate of occupancy |
| Certificado registral | Certificate informing about debts of a specific property |
| Chalet | Villa |
| Compra sobre plano | Off-plan property purchase |
| Comunidad de propietarios | Association/Community of property owners |
| Contrato de arrendamiento | Letting/renting contract |
| Contrato de compraventa de vivienda | Private property sales contract |
| Cooperativa de viviendas | Housing co-operative |
| Cuenta de ahorro vivienda | Housing savings account with special tax benefits |
| Derecho de tanteo | Right of first refusal |
| Derecho de retracto | Right of repurchase |
| Desahucio | Eviction |
| División horizontal | Official document to describe division pf property between different owners |
| Documento privado | Private document |
| Documento público | Public document |
| Escritura | Deeds |
| Escritura pública de compraventa | Title deeds |
| Euribor Official | Euro Interbank offered interest rate |
| Fianza | Deposit |
| Finca | Estate |
| Folleto informativo | Information leaflet/brochure |
| Gestoría | Firm specialised in obtaining official authorisations, permits, licences etc |
| Gestoras de cooperatives | Firm specialised in obtaining official paperwork in relation to housing co-operatives |
| Hipoteca | Mortgage in Spain |
| Hipotecar | to mortgage |
| Hipoteca de inversión | Endowment mortgage |
| Hipotecable | Mortgageable |
| IBI Impuesto sobre Bienes Inmuebles | Spanish yearly property tax or Council Tax |
| Impuesto sobre actos jurídicos documentados | Legal documentation tax |
| Impuesto sobre el Incremento del Valor de Terrenos | Tax on the increase of land value |
| Impuesto sobre el patrimonio | Capital gains tax Spain |
| Inmobiliaira | Estate agent |
| IVA Vivienda | Property VAT |
| Libre de cargas | Free of debts |
| Libro del edificio | Documents handed over by the promoter when a building is finished |
| Licencia de obra | Building permission |
| N.I.E. | NIE |
| Notario | Notary |
| Nota simple registral | Certificate from a property register |
| Novación | Renegotiation of mortgage terms |
| Obra Nueva | Document certifying a brand new building |
| Oferta vinculante | Bank document certifying the exact mortgage conditions |
| Pago en efectivo | Cash payment |
| Parcela | Plot of land |
| Piso | Flat |
| Poder | Power of attorney |
| Préstamo con techo | Loan with variable interest rates with a fixed minimum and maximum |
| Préstamo cualificado VPO | Special loan given only for the purchase of low-cost housing |
| Préstamo hipotecario | Mortgage loan |
| Plusvalía Municipal | Capital gains tax on the sale of property |
| Proindiviso | Co-ownership, when a property has more that one owner |
| Promotor | Property developer |
| Registro de la propiedad | Property Registry |
| Representante fiscal | Official tax representative |
| Residencia (permiso) | Residency permit |
| Residente | Resident |
| Segunda vivienda | Second home |
| Seguro multirreisgo hogar | Household insurance |
| Se alquila | For rent |
| Se vende | For sale |
| Seguro de amortización de préstamos | Loan repayment insurance |
| Señal | Deposit, down payment |
| Subvención | Subsidy |
| Superficie útil | Useable square metres in a property |
| Tasación | Independent valuation of property |
| Terreno | Plot of land |
| Tipo de interés | Interest rate |
| Tipo sustitutivo de referencia | Substitution of the official interest rate - for example the euribor |
| Titulo de propiedad | Deeds stating the ownership of property, date of sale etc... |
| Valor catastral | Registered value of land |
| Verificación | Verification |
| Vivienda de Protección Oficial (VPO) | Low-cost housing subsidised by the state |
Puerto Banus is a centre of prestige and exclusivity on the beautiful Costa del Sol and it is considered to be one of the most luxurious holiday and shopping destinations in the world.
Despite being fairly small in size, Puerto Banus is a haven for shopaholics. With one of the biggest Corte Ingles department stores in Spain and plenty of highstreet names, to top-end designer luxury brand boutiques, Puerto Banus is it all.
The town has several shopping centres, including Marina Banus and Centro Plaza, however you will find the majority of the town's designer labels in the marina area, along Calle Ribera.
Puerto Banus Marina
Just where the luxury yachts in the marina are you'll find the most luxury designer shops with names such as: Louis Vuitton, D&G, Lanvin, La Perla, Emporio Armani, Burberry, Gucci, Michael Kors, Missoni, Roberto Cavalli, Dior, Versace and Hermes amongst many others. Basically, think of one of the most exclusive designer name and they will have a store in Puerto Banus!
The opening hours vary with each shop however most in this area are open every day until late, although some may not open on Sundays specially during the low season.
Cancelada, Estepona
Written by Moises E. Fernandez
Cancelada is a hidden gem of a village at the heart of the New Golden Mile, located between Estepona and Marbella. Less touristy than its larger neighbours, residents of all nationalities are attracted by the relaxed peaceful atmosphere and the proximity to a number of beautiful nearby beaches - conveniently accessed via the footbridge in Cancelada.
The New Golden Mile is one of the most sought after stretches of the Costa del Sol, known for its luxury 5-star hotels and beautiful beaches. Upmarket attractions include the Kempinski Resort Hotel (named as one of the Leading Hotels of the World), Villa Paderna and the fantastic shopping center Laguna Village with its stylish beachside restaurants, exclusive shops and spa.
Cancelada It’s also ideal for golf players: neighbouring Los Flamingos, Cancelada Golf Club, Tramores Golf Club, La Resina Golf & Country Club, and equestrians can take advantage of the British Horse Society approved horse riding centre Escuela de Arte Ecuestre Costa del Sol. There is also a safari park called Selwo, water sports, sailing, fishing and beach clubs where you can let your hair down and cool off with a long drink.
The New Golden Mile is also conveniently close to its famous neighbours – Puerto Banus and Marbella – the playgrounds of the rich and famous since the 1950s. Within 10 minutes you could be celebrity spotting in the marina, shopping in designer boutiques or sampling one of the many waterside restaurants. Then when the sun goes down the nightclubs come to life.
The process of buying or selling a golf share is not complicated but in order to make the transaction progress quickly and easily it does help to have prepared a few things in advance. Golf courses in Spain are Spanish companies and the transfer of shares has to be carried out according to Spanish laws. It is much easier to arrange for the transfer to take place in Spain. It is possible for transfers to be arranged in other countries but finding a lawyer who speaks Spanish and understands exactly what needs to be done can add to the complexity. You do not have to be physically in Spain to buy or sell a share. You can set up an agent with your Power of Attorney to carry out your part of the transfer.
The price of the share is agreed between both parties and formal transfer must be notarized. Remember that you are buying a share in a Spanish company and the transfer is subject to Spanish Law. It is simplest to do the transfer in Spain, using Spanish lawyers.
We will check, before agreeing the price, that there are no outstanding debts on the share. Any debts on the share must be cleared before a new member application will be accepted.
Buyers and Sellers should use their own professional advisors for legal advice concerning the transaction.
If you are not a Spanish Resident then to complete the transfer you will need to provide an NIE number (Numero de Identidad de Extranjero). You can get this number at the police station in Marbella at the following address: Calle Duque de Lerma, nº 4 Edificio España – La Patera- . It is front of the shopping center La Cañada. Telephone numbers: 952903114 or 952867241.
For further details, you can ask in our office. A Lawyer can also helps you to obtain the NIE number. If you cannot attend the notary in person then a Power of Attorney can be set up who will act on your behalf at the transfer of the share.
Are you interested to buy or sell a golf share with our assistance? Please contact us.
Are you interested to buy or sell a golf share advertising it yourserlf in our website? Please visit Steps to list your property for free!
Golf shares
Written by Moises E. Fernandez
If you are interested in buying or selling golf shares and/or memberships, Time to buy in Spain can help.
To be a member at your favourite golf course has many advantages. These are some examples of benefits that golf courses offer their shareholders.
- Discount at Golf School and Golf Shop.
- Discount on hire clubs.
- Special prices on Buggies.
- Exclusive Membership competitions.
- Guaranteed starting and priority tee times.
- Access to special activities, events, tournaments and programs only for members.
- Reciprocal memberships.
- Establish your handicap.
- Enjoy other amenities like swimming, tennis, weight room, spa and other amenities available to members.
- Easier to meet new people to play with your level that suits your lifestyle and experience
Of course this is all subject to the rules of each golf course.
In Spain the purchase and sale procedure has to be legalised by a public notary, so the process between the buyer and the seller should be supervised by a profesional. Time to buy in Spain will assist both parties.
Example of golf club share prices:
- Aloha golf club from 23.500 €
- Antequera golf club from 10.000 €
- Atalaya golf club from 5.000 €
- Las Brisas golf club from 20.000 €
- Guadalmina golf club from 10.000 €
- Villa Padierna - Flamingos from 26.000 €
Are you interested to buy or sell a golf share with our assistance? Please contact us.
Are you interested to buy or sell a golf share advertising it yourserlf in our website? Please visit Steps to list your property for free!
Elviria is a popular residential community located in the eastern part of Marbella, between los Monteros and Cabopino, about 15 minutes drive to Marbella city centre and 25 minutes drive to the international airport of Malaga. Some of the best international schools are situated in Elviria such as the English International College, the Deutsche Schule and Colegio Ecos. The area is well equipped with services, restaurants, supermarkets and entertainment facilities. Also conveniently located are the Santa María and Santa Clara Golf courses with their respective clubs and two more golf courses, Marbella Golf and Country Club, Green Life Golf and Rio Real Golf Course, are only a short drive away. Elviria offers beautiful sandy beaches with charming beach restaurants and the famous beach club Nikki Beach is situated just next to the five star luxury Hotel Don Carlos and close to hotel Vincci Estrella del Mar.
Elviria offers an International environment where you can find villas, apartments and townhouses.
Equally impressive and accessible are Elviria's two tennis clubs – the Hofsass Tennis College and the Royal Tennis Club.
Down by the beach sits Elviria's most famous attraction, the luxury Marbella's Nikki Beach, beside the equally famous and exclusive Don Carlos Hotel. They are not cheap but it is a great experience to enjoy a day or evening there and put your pictures on Facebook. Near to Nikki Beach are a number of more affordable chiringuitos and traditional beach bars with a great quality and good service.
La Dama de Noche is exceptionally located, just a short walk to all amenities in Puerto Banus and five minutes drive to Puente Romano, Marbella and near to the beach and Les Roches University
The apartments themselves are built around two large outdoor swimming pools, which are surrounded by child safe fencing and with a lifeguard for added peace of mind. There are also paddle tennis facilities and a full 18 hole golf course on site. The properties have always been very popular and tend to be bought and sold with ease. Rentals, both long and short term are also particularly desirable due to the competitive price and outstanding location. There are 1,2, 3 and 4 bedrooms apartments and penthouses.
24 hours security in this gated development with underground parking for extra security.
Las Torres de Aloha is a community composed of 4 blocks; Neguri, Deva, Lequeitio, Zumaya. The community has a pool with private garden and is situated in Nueva Andalucia, between the golf courses Aloha Golf and las Brisas Golf.
It is 1,5 kms to Puerto Banus and in the area there are supermarkets, convenience stores, banks and many restaurants.
