Q&A: Am I eligible to recover my lost off-plan funds in Spain?

Q&A: Am I eligible to recover my lost off-plan funds in Spain?

by Charly Spain

Thousands of Brits are believed to have lost deposits put down on holiday homes in Spain over the last decade.

Dreams of owning a second property in the sunshine to enjoy holidays with family or retire to have turned sour, leaving many out of pocket by tens of thousands of pounds.

But hope is not lost, CostaLuz Lawyers, together with “the Erin Brockovich” of Spanish property, Keith Rule, are righting these wrongs having been the first to identify Spanish Law LEY 57/1968 and use it to successfully win over £10 million (€12 million) in lost deposits for their clients.

CostaLuz Lawyers has won almost 850 claims in total from Spanish property developers & banks, helping more than 1,500 clients from across the UK and Ireland as well as Spanish and European nationals.

Last week Maria Luisa de Castro, Founder & Director of CostaLuz Lawyers, secured £1 million from Caixabank for nine British families whose homes in Malaga were never delivered. Working alongside DeCastro’s legal team, CostaLuz Lawyers also has around 100 cases still pending outcomes in the Appeal Courts and more than 500 cases still in progress in the First Instance Courts.

If you paid a deposit on an off-plan property in Spain but did not receive a refund, read the below Q&A with Maria Luisa de Castro to see if you can claim:


Q: Am I eligible to recover my lost off-plan funds in Spain?

A: You are if:

  • You have a cancelled purchase contract, either by Court decision or by the Bankruptcy administrators of the developer
  • Your development was never started or finished on time according to the purchase contract and you have a Bank Guarantee

or:
You do not have an individual bank Guarantee, but you do have a General Guarantee contract signed between developer and the bank

or:
You completed on a property with no First Occupation License—in this case mortgage repayments are also recoverable

or:
You have none of the above but you have copies of all off-plan payments made to the developer’s bank account.  Even if you paid your off-plan deposit to a third party i.e. conveyancing Lawyer or Agent, it may be possible to obtain the evidence required on your behalf to enable the Lawsuit to be filed against the developer’s bank.


Q: What am I entitled to claim back?

A: You can claim all amounts paid off plan, plus legal interests normally from the payment dates.  Legal costs may also be recoverable in some cases.


Q: Are banks actually paying this money back?

A: Yes, they are. Banks are solvent entities that must comply with the law.  All banks with a firm court decision against them are refunding the claimants. Even if the developer’s bank no longer exists, action is still possible against the bank that has taken it over.  For example in the Finca Parcs case the developer’s bank was Banco CAM which was taken over by Banco Sabadell so the action is now against Banco Sabadell.


Q: How safe is this action?

A: Supreme Court has already interpreted the full text of law 57/68 in favour of buyers/consumers, so the success rate is very high.


Q: Are banks settling out of court?

A: In a small number of cases Banks do offer settlement out of court, however this is normally only for the principal amount with no interest or costs.


Q: Does this apply if I bought more than one house?

A: It does, as long as you didn’t do so as part of your professional trade. It also applies if the contract mentioned these guarantees explicitly to secure the success of the business.


Q: Does it apply for commercial premises?

A: It does, if the guarantee was offered in the contract


For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith Rule. To speak with Maria in the Spanish office, please call +34 956 092 687 or you can visit www.costaluzlawyers.es.

US interest in Spanish property surges, while UK buyers keep calm and carry on

US interest in Spanish property surges, while UK buyers keep calm and carry on

by Sophie Evans Spain
  • US visitors to Kyero.com up 75% year on year
  • UK interest remains steady for now but will be hostage to Brexit negotiations
  • Chiclana De La Frontera races up ranks to become 9th most popular location

The official March report from Kyero.com has, as ever, revealed some interesting insights into the Spanish property market.

The portal received 65,473 property enquiries during the month, up 19.55% year on year, while visitor numbers reached 594,917, up 41.7%.

From this wealth of data, Kyero.com reports that UK buyers remain steadfast in their love for Spanish property, despite the triggering of Article 50 towards the end of March.

“With Prime Minister May emphasizing how slow the Brexit process is going to be, with the UK being hostage to the negotiation cycle, it seems that Brits are happy to take a ‘keep calm and carry on’ approach to buying homes in Spain. Interest has slowed, but is far from going into reverse – in fact, British visitors to Kyero.com have increased by 30.2% over the past year.”

Richard Speigal, Head of Research at Spanish property portal Kyero.com

 

While Theresa May seems to be keeping British buyers calm, President Trump’s countrymen seem to have found a fresh desire to pick up properties in Spain.

US visitors to Kyero.com have surged, up 75.3% year on year. US buyers are now firmly in the site’s top ten list of nationalities interested in buying in Spain, as life far away from Donald Trump’s America takes on added appeal.

Meanwhile, prices across Spain are growing steadily. The median asking price across Kyero.com’s 200,000+ listed properties now stands at €244,000, an increase of 5.9% over the past year.

“When it comes to location, Gran Canaria’s Playa Del Ingles has reclaimed the top spot, knocking Torrevieja down into second place once again. Other traditional favourites like Playa De Las Americas in Tenerife and Alicante continue to rank among the most popular destinations for those buying in Spain.”

Richard Speigal, Kyero.com

 

The biggest mover in terms of the top ten locations is Chiclana De La Frontera in Cadiz, which shot up six places to become the ninth most popular location in March.

With a rich history of sherry production (it’s just 40 km from the sherry heartland of Jerez De La Frontera), Chiclana offers visitors easy access to the ‘real Spain’ – away from the vast hordes of tourists flocking to the beaches of the southern coastline.

As well as its own architectural and culinary charms, the town offers easy access to Cadiz (for outstanding tapas and beautiful beaches), Gibraltar, Portugal and Morocco, all of which can be reached easily in under three hours, making Chiclana De La Frontera an excellent base for those wanting to use their base in Spain for exploring other locations.

As political instability continues to rock the foundations of both the UK and the US, it will be interesting to see how this is reflected in the Spanish property market. Home to the largest British expat population in Europe and to a somewhat smaller but still sizeable population of American expats (estimates put the figures at around 300,000 and 41,000 people respectively), Spain’s second home market stands to be singularly affected by political happenings in both countries. Needless to say, the folk at Kyero.com will continue to monitor the situation closely.

For further details, visit www.kyero.com.

Brits choose the Balearic isle of Mallorca for an Easter getaway

Brits choose the Balearic isle of Mallorca for an Easter getaway

by Sophie Evans Spain
  • Spain most popular holiday destination this Easter with Mallorca topping the list (On the Beach)
  • Sunshine and temperatures of 20C and upward for Easter on Mallorca (Weather .com)
  • Taylor Wimpey España launch two new residential developments in Mallorca’s growing property market

Easter in the UK is usually a mixed bag of time off work, hyperactive children, threatening rainclouds and an overwhelming amount of chocolate. Though this combo does have a certain British charm, increasingly the temptation to spend the Easter break overseas is winning over the hearts of those looking for some springtime sunshine. And Spain is set to be the destination of choice in 2017.

According to the most recent data from beach holiday specialist On the Beach, Spain is the most popular destination for Brits during the Easter period this year. The beautiful island of Mallorca tops the list of holiday hotspots, with the sun-kissed province of Alicante also celebrating a place in the top five.

With Mallorca just a couple of hours’ flight from the UK, long weekends there are now easily achievable, allowing the island to be more than simply a summer destination. Long-term resident Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, observes,

“No longer considered a one season destination, Mallorca’s popularity throughout the year is growing. With such a short flight time, spending Easter there is easy for those living in the UK and with temperatures predicted to stay firmly in the 20s over the course of the long weekend, the Balearics are definitely a tempting prospect for a short coastal getaway.”

Easter in Mallorca is a big event, with processions, feasting and celebrations held across the island. The processions have their origins in the 16th century, when the Christian church set out to present the story of the Passion of the Christ to laypeople through street processions. While the religious element is still strong today, the festival atmosphere is one that those of all denominations can enjoy and the food that accompanies it is something that everyone should experience at least once!

But why experience Mallorca just once this year? Coastal properties on the island are becoming increasingly popular with holiday home owners and Taylor Wimpey España have just launched two new developments to the growing market. Both already attracting the attention of buyers who are keen to make Mallorca’s coastline a more regular feature of their lives.

The new Cala Vinyes Hills residential complex offers 15 exclusive and spacious three bedroom apartments and duplexes within a modern, gated community comprised of 5 independent buildings. From €380,000+VAT residents will benefit from private terraces, a communal swimming pool with landscaped gardens and private parking.

Cala Vinyes Hills is located in the prestigious area of Cala Vinyes, in the south west of Mallorca, just 15 minutes from the island’s vibrant capital city, Palma. The exclusive marinas Puerto Portals and Port Adriano are also close by, providing a wide variety of elegant bars and restaurants such as the most exclusive designer stores.

Less than a 30-minute drive from Palma’s international airport, Serenity is located next to the Santa Ponsa II Golf Club in Nova Santa Ponsa, one of the most exclusive and highly sought-after areas on the island. This new residential complex offers beautiful 3 bedroom homes from apartments to top floor penthouses.

All units benefit from private terraces, with those on the ground floor enjoying spacious garden areas which are also private. From €545,000 +VAT for an apartment and €790,000 +VAT for a penthouse, residents will enjoy the private use of two swimming pools, surrounded by a solarium area, and luscious communal gardens.

With Spanish Easter celebrations lasting for around 10 days, Mallorca and many other parts of Spain may already be in full celebratory mode. Why not leave the chocolate at home and hop on a plane to see for yourself?

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.

Spanish property interest hits three-year high

Spanish property interest hits three-year high

by Charly Portugal Spain
  • Spain takes top three most-searched locations
  • Malaga, Almeira and Tenerife most popular places in Spain
  • Portugal occupies eight out of top 50 property hotspots

Interest in Spanish property surged to a three-year high at the start of 2017, reveals TheMoveChannel.com’s latest Hotspots Index. The report, which charts the most searched-for locations on the international property portal, saw Malaga soar to first place in Q1 2017 – the first time Spain has ever ranked in the number one spot.

Malaga accounted for 4.01 per cent of all searches on the international portal in the first three months of 2017, climbing 18 positions from Q4 2016 to knock Italy’s Florence off its perch. This is the first time in 18 months that Italy has not topped TheMoveChannel.com’s Hotspots Index.

Almeria was the second most sought-after location on the site, with 3.56 per cent of searches, followed by Tenerife (3.40 per cent) and, down three places, Florence (2.63 per cent). Benidorm completed the top five with 2.53 per cent of searches. Indeed, Spain was home to eight out of the 10 most popular locations in Q1 2017, the highest percentage of the Top 10 ever held by a single country since Hotspots Index records began in Q4 2014. Spain was also responsible for 13 out of the Top 15.

Portugal was home to 8 of the Top 50, ahead of Italy (5) and France (3). Portugal’s most popular hotspots were Albufeira (14th), Cascais (18th) and Alvor (19th). Interest in Italy was fuelled by Florence (4th), Rome (8th) and Verona (27th). France’s most sought-after hotspot was Paris (15th), highlighting the capital’s importance as a magnet for romantic lifestyle buyers and a safe haven for wealthy investors.

Thailand’s Pattaya climbed two places in the chart, attracting the 16th biggest share of searches. Greece’s Athens was the 45th most popular hotspot, while the USA accounted for one hotspot: Detroit, ranked in 33rd.

Spain, though, dominated buyers’ wishlists at the start of the year. The country was home to 31 of TheMoveChannel.com’s Top 50 hotspots, more than double its share of the index in Q4 2016 and an all-time high for any country.

The figures follow Spain’s similar rise in TheMoveChannel.com’s latest Top of the Props report, which saw the country account for 14.02 per cent of all enquiries on the site in February 2016 – its largest share of activity since 2013. Indeed, new data from Spain’s Land Registry shows that sales of property increased 19 per cent in January year-on-year to reach the highest number of transactions since January four years ago.

“Spain is undoubtedly the flavour of the month,” says Dan Johnson, Director of TheMoveChannel.com. “Searches and enquiries are both at highs not seen for several years, showing that foreign buyers are actively seeking opportunities in Spain and are following through on those searches. Agents have reported a slowdown in enquiries from British buyers since the Brexit vote, but expat favourite Benidorm’s position in Q1’s Top 5 hotspots shows that there is still interest from the UK, despite the pound’s weakness against the euro.

“Foreign buyers are still drawn primarily to tourist hospots, such as the Costa Blanca and Malaga, where they are helping to drive property prices up. With Spain’s economy growing, though, business hubs such as Barcelona are also fuelling overseas demand. Spain’s housing market is still not recovering at the same rate across the whole country, but with property values starting to rebound, the promise of capital growth and the country’s timeless lifestyle appeal mean that Spanish real estate has rarely appeared so attractive.”

Click here to see the full Top 50 Hotspots on TheMoveChannel.com.

— ENDS –

Notes to Editors

About Lead Galaxy and TheMoveChannel.com

Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 1.4 million listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.

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The ‘Erin Brockovich’ of Spanish property still fighting a decade later

The ‘Erin Brockovich’ of Spanish property still fighting a decade later

by Charly Spain United Kingdom
  • Keith Rule uncovered Spanish Law LEY 57/1968 that allows banks to be held accountable for off-plan property deposits
  • In 2012 Finca Parcs Action Group and CostaLuz Lawyers win case against the bank resulting in a pay-out of almost €1.5 million
  • “With Brexit creating uncertainty, now is the time for investors to begin reclaiming what is rightfully theirs” (Keith Rule, CostaLuz Lawyers)

Back in 2006, Keith Rule, an ordinary man from Milton Keynes, decided to take the plunge and buy his dream holiday home in Spain. Like many other Brits at the time, Keith paid a deposit for the off-plan property to a Spanish developer. A substantial sum of €54,000.

However, his dream was short lived as he did not receive a bank guarantee. And when the developer fell behind on the build schedule and ultimately abandoned the project in 2009, Keith’s investment was at serious risk.

Taking matters into his own hands, Keith’s research led him to Spanish Law LEY 57/1968 in which he found what would become a key phrase in his fight for justice. Just three little words, ‘bajo su responsibilidad’, which means ‘under its responsibility’.

Keith believed that according to this law, the developer’s bank which received the off-plan deposits was responsible for issuing or verifying the existence of the guarantee.

In 2008, needing legal assistance in his quest to hold the bank accountable, Keith was turned away by several Spanish lawyers before contacting Maria de Castro of CostaLuz Lawyers.

Keith gathered a group of 46 other buyers who had invested in the same development, in the Spanish province of Albacete, to act against the developer’s bank.  They were known as the Finca Parcs Action Group and in 2012, together with Maria, they won their case against the bank which resulted in a pay-out of almost €1.5 million plus interest & costs.

After this unprecedented success and landmark case, Maria asked Keith to join the CostaLuz Lawyers team in order to help others. Keith now works exclusively with CostaLuz Lawyers, operating the UK office and assisting thousands of other British, Irish and European nationals to recover off-plan deposits.

Dubbed “the Erin Brockovich” of Spanish off-plan property due to his pioneering work, Keith continues to help other buyers who undertake similar legal procedures.

 

“There are still a significant number of people that are yet to have their deposits returned to them. The Spanish legal system has definitely transformed over the last decade, in relation to allowing owners a high level of success with deposit reclaims, as more and more cases are being won and trust is beginning to grow. However, with the Brexit process creating a sense of uncertainty, now is the time for investors to ask for help and begin reclaiming what is rightfully theirs.”

Keith Rule, CostaLuz Lawyers

 

CostaLuz Lawyers has successfully won almost 850 claims in total from Spanish property developers & banks, helping more than 1,500 clients from across the UK and Ireland as well as Spanish and European nationals.

In addition, they have around 100 cases still pending outcomes in the Appeal Courts and more than 500 cases still in progress in the First Instance Courts.

For more information, please contact CostaLuz Lawyers’ UK office on +44 1908 635 111 and speak with Keith. To speak with Maria in the Spanish office, please call +34 956 092 687 or you can visit www.costaluzlawyers.es.

Golf abodes worthy of green jacket glory

Golf abodes worthy of green jacket glory

by Sophie Evans Spain
  • The Masters Tournament begins on 6th April, the first of 2017’s major championships
  • Spain provides ideal climate for those keen to walk the fairways in every season (Taylor Wimpey España)
  • Start the season in the perfect golfing retreat from the Costa Blanca to the isle of Mallorca (Taylor Wimpey España)

The Masters Tournament is one of the four major championships in professional golf. The competition is scheduled to begin on Thursday 6th April and continues to be the first of the majors to be played each year.

Last year’s green jacket was awarded to Danny Willett and the suspense is building as to who will receive the honour next. With golfing mania building, get swept up in the atmosphere and check out this round up of golfing homes in Spain, perfectly located to practice your swing and give Tiger Woods’ tournament record score a run for its money.

“For fans of the sport, golf properties provide the idyllic base for any holiday or retirement plans with high quality facilities right on the doorstep. Buyers should consider properties near a golf course that is also considered a resort offering an array of additional facilities to keep the non-golf players in the party equally as happy. Spain’s plentiful sunshine and dry, warm days allow for visits throughout every season for exciting weekends away playing golf and a very popular rental opportunity.”

Marc Pritchard, Sales and Marketing Director, Taylor Wimpey España

 

Horizon Golf, Costa del Sol

Situated in the beautiful valley of Mijas, in the ‘Costa del Golf’, Horizon Golf is Taylor Wimpey de España’s second development at La Cala Resort within the complex’s famous Campo Asia golf course. With prices starting from €275,000 +VAT, all properties benefit from three 18-hole golf courses, a hydrotherapy centre and spa, La Cala Golf Academy School and an array of sports facilities all close by.

Residents will enjoy stunning panoramic views over the golf course and La Cala de Mijas with each property; the private gated development offers 55 terraced homes, all with 3 bedrooms, 2 bathrooms and a cloakroom, as well as 48 2 or 3 bedroom apartments.

Residents can reach the beautiful beaches of the Costa del Sol in just 10 minutes, with Malaga airport only 30 minutes away.

Serenity, Nova Santa Ponsa, Mallorca

The brand-new Serenity residential complex is located next to the Santa Ponsa III Golf Club. The properties have a modern design, with three spacious bedrooms and private terraces, with the ground floor properties enjoying large private gardens.

It is in a superb location, surrounded by some of Mallorca’s top golf clubs including Golf Santa Ponsa I, II and III, Golf de Andratx, Golf de Poniente and Bendinat Golf. It is also close to the coast, in an area dotted with beautiful coves and beaches and some of the island’s most exclusive marinas such as Puerto Adriano, which is only a few minutes’ walk from Serenity, Puerto Portals and Puerto de Andratx.

From €545,000 +VAT, Serenity is accessible within just a 25 minute drive from Palma de Mallorca airport and just 20 kilometres from Palma city centre.

Brisas de Alenda Golf, Costa Blanca

Brisas de Alenda Golf, is located in the peaceful area adjacent to the Alenda Golf Course while the wonderful beaches of the Costa Blanca are just a 15 minute drive away. There are currently 15 golf courses on the Costa Blanca, all in close proximity to one another. Many of the properties will have access to the Alenda Golf Club, with residents able to use all facilities available.

The complex consists of 3 bedroom townhouses boasting generous private gardens, a communal swimming pool and a club house as well as a gym, bar and restaurant costing from just €150,000 +VAT.

With the warm climate, together with the proximity of the beaches, allows sailing and water sports to be enjoyed throughout most of the year.

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.

Welcome to Albox – Spain’s Brexit-beating holiday home location for 2017

Welcome to Albox – Spain’s Brexit-beating holiday home location for 2017

by Charly Spain
  • Traditionally popular locations losing out to less developed towns like Albox
  • 3% of Brexit-conscious Brit buyers looking for sub-€50k homes
  • Property sales in Almeria have risen 93% since Brexit referendum
  • Apartments are property type of choice for value-focused buyers

Brexit-conscious British buyers took quite a while to let the impact of the referendum sink in, but the imminent triggering of Article 50 has finally shaken up their pursuit of Spanish property.

While no fundamental changes to property rights, obtaining mortgage credit or even inheritance tax are expected, there will be a degree of uncertainty over the coming months, and that’s making buyers more cautious. However, where there’s a threat, there’s also usually an opportunity.

 

“While traditional more established (and expensive) Spanish locations are beginning to feel the Brexit blues, buyers aren’t abandoning the country entirely. Instead, they’re looking for less developed areas, which is giving smaller towns an opportunity to shine.”

Richard Speigal, Head of Research at Spanish property portal Kyero.com

 

The province of Almeria is at the epicentre of the shift, with sales rising 93% in the post-Brexit period.

Prices across the province have lagged behind the rest of Spain, with an average value of €129,000 – almost half the national average. Prices are expected to rise following the post-Brexit spike in sales, but haven’t done so yet, creating an interesting opportunity for buyers with an eye on potential capital gains as well as a sun-kissed second home.

The addition of Almeria to Jet2’s summer 2017 flight schedule is also interesting news to those seeking an easily accessible, bargain holiday home with great potential for capital gain.

Within Almeria, the town of Albox is the one to watch, according to the experts at Kyero.com, which lists more than 200,000 properties each month.

Flanked by the Sierra de las Estancias and the Sierra de los Filabres mountain ranges, Albox benefits from being less than an hour’s drive from the coast and just over an hour from Almeria Airport. The town’s white-washed homes, pretty plazas and narrow streets boast plenty of the kind of authentic Spanish charm that many British buyers are seeking.

 

“Over 50’s British buyers may be sitting on huge equity thanks to rising UK house prices, but sterling’s fall has hit their budgets, which in turn has led to a hunt for value. As healthcare and pension arrangements aren’t guaranteed to remain the same after Brexit, retirees are holding back from blowing their budgets on huge villas in prime locations. Instead, apartments in less well known locations are coming to the fore. The Costa del Sol’s loss is Almeria’s gain.”

Richard Speigal, Kyero.com

 

The average property in Albox costs just €129,000 – the same as the provincial average, based on Kyero.com’s figures.

Those looking for a substantial project can pick up a townhouse ripe for pulling down and rebuilding for €9,000. A quirky, renovated four-bedroom home with a sunny roof terrace can be picked up for €39,950. Albox apartments are priced from €65,000, while buyers with €100,000 or more can enjoy a selection of spacious villas. Villas with their own pools start from €120,000.

Prices in Albox have risen by 2.2% in the last year. Meanwhile, buyer enquiries are running at four times the average for the Kyero.com site. In February alone, 17,000 people searched for property in the town, with British buyers topping the table when it came to the nationality of those looking at Albox homes.

The majority were bargain-hunting, with 62.3% looking for properties costing less than €50,000, and apartments being the first choice when it came to property type. A further 22.4% were looking to spend between €50,000 and €100,000. Just 14.7% of potential buyers were considering spending over €100,000, reflecting the Brexit-inspired push for bargain holiday homes.

While there’ll no doubt be plenty of vocal lobbying from Spanish property owners and expats once Brexit negotiations are underway, for now buyers are voting with their wallets, meaning that towns like Albox are emerging as 2017’s hottest Spanish holiday home destinations.

For further details, visit www.kyero.com.

Taylor Wimpey España launch new contender for Mallorca’s luxurious second home market

Taylor Wimpey España launch new contender for Mallorca’s luxurious second home market

by Charly Spain
  • Balearics enjoy busiest regional housing market in Jan 2017 (Spain’s property registrars) 
  • Mallorca features above The Hamptons and Monaco in latest Prime International Residential Index (Knight Frank)
  • Taylor Wimpey España launch luxury Serenity development close to glamourous Puerto Adriano marina 

Spain’s property market enjoyed a positive start to 2017 with sales rising by 18.1% in January compared with the same period last year. Recent figures from Spain’s property registrars highlighted the Balearic Islands as January’s busiest regional housing market with an average of 150 sales per 100,000 inhabitants.

Mallorca has become a rising star of the second home market within Spain and globally, as its golden coastline appeals to an array of buyers. Knight Frank’s latest Prime International Residential Index (PIRI), which tracks the value of luxury homes in 100 key locations worldwide, reveals house price growth on the Spanish island as 2.01% from December 2015 to December 2016.

The PIRI places Mallorca within the top 50 luxury home destinations, even above world renowned second home locations such as The Hamptons and Monaco, as buyers seeking extravagant properties express increasing interest in the Mediterranean isle.

As a resident of the beautiful island himself, Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España can bear testament to the appeal of Mallorca to the global elite:

“Already a popular holiday destination, Mallorca is now emerging as a hotspot for those seeking a certain level of luxury. And although there is still something for everyone, it is the homes offering a more lavish lifestyle that are now enticing buyers to the island.

“We are delighted to introduce a brand new, highly luxurious residential development – Serenity – within such proximity to one of the Mediterranean’s premium ports, ideal for super-yacht enthusiasts and those wanting to experience tranquillity by the water.”  

Marc Pritchard, Sales & Marketing Director, Taylor Wimpey España


Serenity is located next to the Santa Ponsa II Golf Club in Nova Santa Ponsa, one of the most exclusive and highly sought-after areas on the island. This new residential complex offers beautiful 3 bedroom homes from apartments to top floor penthouses.

All units benefit from private terraces, with those on the ground floor enjoying spacious garden areas which are also private. From €535,000 +VAT for an apartment and €790,000 +VAT for a penthouse, residents will enjoy the private use of two swimming pools, surrounded by a solarium area, and luscious communal gardens.

Less than a 30-minute drive from Palma’s international airport, Serenity’s idyllic location is also less than 1km away from the premium Puerto Adriano marina. Designed by Philippe Starck, this superyacht harbour provides berths for boats between 6 and 100 meters long, as well as a wide variety of bars and restaurants and some of the most exclusive designer stores on Mallorca.

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.

Palma airport to receive extensive upgrade as Mallorca remains destination of choice

Palma airport to receive extensive upgrade as Mallorca remains destination of choice

by Charly Spain
  • AENA announce €297 million expansion project for Palma’s international airport
  • “The island is fast becoming one of the entertainment industry’s favourite locales, increasing it’s attraction as a destination” (Taylor Wimpey España)
  • New Cala Vinyes Hills development only a short 20 minute drive from Palma airport (Taylor Wimpey España)

As the beautiful Balearic island of Mallorca continues to entice sun seeking travelers to its shores, AENA have recently announced plans for an expansion project at Palma’s international airport. Between now and 2021, Spain’s air navigation management company will invest almost €297 million in extending the airport, known as Son Sant Joan, to accommodate an increasing number of flights.

Already the third largest airport in Spain, behind Madrid and Barcelona, AENA have estimated Son Sant Joan will receive 28.5 million passengers in 2021. This investment will develop the terminal buildings to create space for the growing number of passengers, as well as the airport’s runway efficiency to increase the number of flights per day.

And with the recent revelation that BBC drama The Night Manager will be returning for a second series, Mallorca’s beauty could once again be showcased on the small screen. The first series that was filmed around Palma, Llucmajor, Cala Deia and Port de Sóller, attracted over 6 million viewers last spring and was even nominated for 6 Emmys in 2016.

Providing the idyllic setting for a holiday home, leading Spanish homebuilder Taylor Wimpey España, offer a beautiful selection of properties on Mallorca with something to suit the requirements of each individual. Their most recent addition to the landscape, only a short 20 minute drive from the Son Sant Joan airport, is the gorgeous Cala Vinyes Hills.

Marc Pritchard, Sales and Marketing Director for Taylor Wimpey España, is excited about what opportunities the AENA investment could bring to the island and is looking forward to welcoming a growing number of visitors to Mallorca. He comments,

“We have certainly experienced a growing interest in property on Mallorca as it becomes a prominent must-visit destination for travelers from across the globe. And it’s fantastic that Mallorca is enjoying such a boom in its reputation as a filming location.

“The fantastic weather and range of stunning locations provide an ideal environment for shooting everything from adverts to films and the island is fast becoming one of the entertainment industry’s favourite locales, which in turn increases it’s attraction as a holiday home destination.

“As popularity for the island continues to grow we are determined to provide an array of high quality properties in locations that reflect the best of Mallorca’s culture as well as its coastline.”

The new Cala Vinyes Hills residential complex offers 15 exclusive and spacious three bedroom properties within a modern, gated community comprised of 5 independent buildings. From €365,000+VAT residents will benefit from private terraces, a communal swimming pool with landscaped gardens and private parking.

Cala Vinyes Hills is located in the prestigious area of Cala Vinyes, in the south west of Mallorca, just 15 minutes from the island’s vibrant capital city, Palma. The exclusive marinas Puerto Portals and Port Adriano are also close by, providing a wide variety of elegant bars and restaurants such as the most exclusive designer stores.

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.

Taylor Wimpey España celebrates double operating profit for 2016 as Spanish market continues to soar

Taylor Wimpey España celebrates double operating profit for 2016 as Spanish market continues to soar

by Charly Spain

Leading UK homebuilder, Taylor Wimpey has released end of year results for 2016 that highlight the significant progress being made by Taylor Wimpey España in the Spanish property market.

The most recent figures show Taylor Wimpey España delivered an improved operating profit of £20.6 million for 2016, an impressive 106% growth on 2015’s £10 million, and an operating profit margin of 22.0%.

The company, which has been building homes in Spain for 60 years next year, completed 304 homes in 2016 which is a substantial 21.1% increase compared to the previous year. The average selling price of these properties has also seen a rise of 13.7%, from €315,000 to €358,000. Such positive statistics emphasise the Spanish property market’s success in 2016.

Javier Ballester, Managing Director for Taylor Wimpey España, is confident that the market will continue to thrive this year, commenting,

 

“The start of the year has been extremely encouraging and we have witnessed international demand rising again, having sold to more than 25 different nationalities in 2016. Whilst conscious of the potential implications of the wider macro European economic environment, our latest figures show Spain is still very much top of the list for many potential buyers and we are very excited to see what the next 12 months hold for the market.”

 

Taylor Wimpey España celebrated the start of 2017 by completely selling out three desirable off plan developments in three different destinations.

Costa Beach in Mallorca, Jade Beach in Marbella and Jardin del Mar in Javea have all now sold out, with a combined total of just under 100 units.

And with demand set to rise further still throughout 2017, Taylor Wimpey España are on hand to provide new and alternative options for prospective buyers looking to the sun kissed Costas and the beautiful Balearic isles of Mallorca and Ibiza. With over 15 new developments in 2016, and prices starting from just €150,000+VAT, Taylor Wimpey España can help buyers discover their dream Spanish properties.

Taylor Wimpey España’s latest addition to the Costa del Sol is Botanic, with a privileged south-facing position and on high ground that provides amazing panoramic views of the Los Arqueros Golf course, the sea and the natural beauty of the surrounding area.

The development itself comprises 92 bright and spacious 3 bedroom homes with large terraces, all of which are southwest facing. The 4 storey buildings are crowned by spacious penthouses of modern design with spectacular solariums from which you can enjoy the views from dawn to dusk.

The lavish yet eco-friendly homes with minimal energy consumption are fully equipped with high quality finishes. Cream coloured marble throughout, wide patio doors to the terrace, top of the range kitchen appliances and sanitary fittings, LED lighting, air conditioning and heated flooring in bathrooms, are all included as standard.

With prices from just €350,000 +VAT, it is an extremely well connected location with amenities on offer in Benahavis, Marbella, Puerto Banús or the new San Pedro Boulevard are all within close proximity. Botanic is a place of residence where serenity and tranquility reign although the best in leisure experiences and activities in Marbella are available within a radius of just 5km.

For more information, please contact Taylor Wimpey España today on 08000 121 020 or visit http://taylorwimpeyspain.com for more information. If you reside outside of the UK you will need to call 00 34 971 706 972.