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Moises E. Fernandez

Moises E. Fernandez

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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).

26 Schengen Countries
Antonio Caracuel exposed the number of Golden Visas Applications between 2013 and 2016. A total of 2093 properties were sold applying for the Golden Visa.
  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

 

percentage properties sold 2013 2016 golden visa application
Percentage Properties Sold between 2013-2016 with Golden Visa Application
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Buying properties in Off-plan Development

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

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

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Shopping in Puerto Banus

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.

 

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Cancelada, Estepona

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.

 

 

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Transfer of golf shares in Spain

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!

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Golf shares

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!

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Elviria

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.

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Dama de Noche

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.

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Torres de Aloha

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.

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