Buying Spanish property safely

“After seeing many TV programmes in the UK showing the horror stories some unfortunate buyers have gone through while purchasing, I was surprised but pleased to learn there are steps people can take to safeguard their investment” says Roger Cox from Aldridge near Walsall, who recently completed the purchase of his new villa in Moraira on the Costa Blanca.

The new guarantee for buyers of Spanish homes seems the perfect solution to protect against any problems in the future. After all the Americans have used this system for years.

Roger (aged 43), lives in the UK with his family and has bought the two bedroom property as a holiday home. Continued Roger, “We were introduced to this part of Spain by friends who took us to the Costa Blanca about four years ago and we immediately fell in love with the area.

Relax and enjoy our home

“We were aware of the difficulties some buyers have faced when purchasing in Spain but at the time there seemed to be no way around the problem. However, we continued to love of Spain and finally found the perfect villa, negotiated the sale with the owner and by then Safe Purchase Spain had been launched. We completed the purchase of our property with a 20 year Safe Purchase Guarantee in place and can now relax and enjoy our home in the sun, knowing we have the rights as owners fully-protected.”

Safe Purchase Spain was devised and launched by Ian Hawkins at the end of 2009 and has already received a great deal of support from estate agents, solicitors and private vendors keen to provide financial protection against difficulties in home ownership in Spain.

“Spain is still the number one destination for Britons looking to buy abroad,” says Ian, “but continuing negative press coverage surrounding revoked building licences and demolition orders served on innocent owners has struck a dreadful blow to the Spanish marketplace. Now for the first time, the Safe Purchase Guarantee provides insurance protection against a wide range of problems that can occur after a buyer has completed his sale.

“These include such things as title defects, illegal building licences, access problems, border disputes, community problems, hidden lease agreements, fraud, identity theft, vendors’ debts amongst others. As far as I am aware, this is the first time buyers of Spanish property have had any measure of protection after they’ve purchased.”

Roger Cox (right) from Walsall, seen here with the founder of Safe Purchase Spain, Ian Hawkins

Safe Purchase Spain was recently launched on the Costa Blanca. In an effort to increase confidence, trust and visibility in a largely unregulated property market, all Safe Purchase Certified Partners sign the Safe Purchase Code of Ethics as well as statements confirming their professional experience and the fact they’ve never been convicted of fraud or financial irregularities.

Each agent includes the 20 year guarantee with every purchase and it is this approach that is set to revolutionise the way properties are bought and sold in Spain. This guarantee is underwritten by one of Spain’s largest insurance companies.

Continues Ian, “What many may not realise is that in the United States, title insurance is mandatory. Put simply, you cannot raise finance against a property without it. As such the title insurance industry is worth billions of dollars and is a way of life for most Americans.”

Concluded Roger, “To be able to own a property, with this type of peace of mind, has made our dream home, perfect. Life in Spain is relaxed, the weather is good, the infrastructure excellent and of course we are only two hours flight time from the UK making it ideal for friends and family to fly out. I genuinely feel that Safe Purchase Spain is the way forward for buyers in the future.”

For more information, go to Safe Purchase Spain at: www.safepurchasespain.com or call on: 00 34 96 647 32

Safe Purchase

Exclusively available through the network of Safe Purchase Certified Partners, the Safe Purchase Guarantee is available to buyers and existing owners of property in Spain, the Balearic and Canary Islands and provides insurance cover against fraud, identity theft, illegal building licenses, demolition orders, community disputes, unfair quotas, hidden defects, vendors and builders debts, administrative procedures, access problems, hidden leases, defective property sizes, border disputes, land registry inscription problems, illegal vendors and much more.

The Safe Purchase Guarantee includes a title insurance policy underwritten by Caser Seguros, one of Spain’s largest and most well-known residential insurance companies, established since 1942. It provides cover for 20 years from the first day of ownership and up to 360,000 Euros in compensation for monetary losses.

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Living in Spain? Olives are a real Christmas cracker

For many people who buy a property around the Mediterranean, it often means a change in diet. One of the best things that many people include are olives and some of the best come from Spain. Why not start the New Year as you mean to go on with the healthy snack, olives?

Since ancient times, sun-ripened Spanish olives and their oil have been highly valued for their medicinal benefits. Traditionally cured Spanish olives are low in calories, high in antioxidants, minerals and healthy fat and are a great source of fibre, so whether you eat them straight from the bowl or combine them with your evening meal for a deliciously subtle Mediterranean flavour, you can be assured that they are doing you good.

Spanish olive dips

Low in calories

Twenty five grammes of olives contain just 37 kcal, almost four times as little as the 140 kcal contained in 25g of crisps. Olives promote good health because they contain a high amount of antioxidants and minerals such as polyphenols, calcium and magnesium.

Different Spanish olives contain different nutritional qualities. For example, black olives contain less salt and more iron, yet fewer calories than green olives; Manzanilla olives contain more salt and vitamin E; and Hojiblanca olives boast more fibre. All them offer the following:

•         Monounsaturated fats – Spanish olives are fruits of the tree known as Olea europaea. Olea is the Latin word for oil, reflecting the olives very high fat content. However, 75% of this is oleic acid, a healthy omega-9 monounsaturated fatty acid that has been shown to lower blood cholesterol levels and increase HDL (good) cholesterol.

Research has also shown that it is the type of fat consumed that determines the risk of developing conditions such as atherosclerosis (a condition where which an artery wall thickens as the result of a build-up of fatty materials such as cholesterol), colon cancer, arthritis and asthma.

Residents in regions around the Mediterranean consume large amounts of olives and olive oil and have a lower risk of developing those conditions.

Health benefits

•         Fibre – with 100 grams containing 2.6 grams of fibre, Spanish olives are high in fibre and so are easily digested. Spanish olives are also a good source of calcium, iron, magnesium, phosphorus and iodine.

•         Anti-inflammatory properties – Spanish olives contain a variety of beneficial active phytonutrient compounds (plant compounds which are thought to have health-protecting qualities) including polyphenols and flavonoids, known for their anti-inflammatory properties. Polyphenols also give the olive its taste and aroma.

•        Protection against cell damage – it is the combination of a number of nutrients in Spanish olives that work in synergy to provide great health benefits. Olives are a good source of monounsaturated fats, rich in vitamin E – a fat-soluble antioxidant that neutralizes damaging free radicals, and also contain polyphenols and flavonoids, which have anti-inflammatory properties.

These health-boosting compounds that work hand-in-hand to provide a protective an anti-inflammatory effect on cells that can lower the risk of cell damage and inflammation which in turn helps to:

1. Reduce the severity of asthma, osteoarthritis, and rheumatoid

arthritis – three conditions where most of the damage is caused by high

levels of free radicals

2. Prevent heart disease

3. Prevent colon cancer – by neutralizing free radicals, the nutrients in olives help prevent colon cancer. A higher intake of both vitamin E and the monounsaturated fats in olives is also associated with lower rates of colon cancer.

•         Menopause – clinical studies have shown the effect Vitamin E has on reducing hot flushes.

•         Alzheimer’s Disease – a recent study showed people with low level of HDL (high density lipids) or bad cholesterol were 53% more likely to have memory loss as compared to those with high level of HDL (high density lipids) or good cholesterol. As olives have high levels of oleic acid which helps increase good cholesterol, an olive rich diet may also help prevent Dementia and Alzheimer’s Disease.

Grape news

Las Uvas (the 12 grapes of luck) is a Spanish tradition that started, according to legend, in the early years of the 20^th century. It takes place in the last 12 seconds of the old year and although the tradition has spread to some Latin American countries, it’s most popular in Spain and is certainly something that very few Spaniards would miss.

As the clock starts to strike midnight, you should eat one grape per second. This is harder than it sounds but according to tradition, if you succeed, this guarantees good luck in the coming year. Don’t be taken in by earlier chimes – wait for the full 12 to start

If you are living in Spain, the striking of the clock on the tower in the Puerta del Sol in Madrid are broadcast nationwide on radio and television. Whether you’ll actually have great good luck in the coming year is hard to say, but whole families join in the fun and it’s certainly worth trying whether you live in Spain or not.

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

Spanish Property Market Remains ‘Ultra Price Sensitive’

The Spanish property market has started to whirr back into motion, but it remains highly price sensitive. Only if the price is right will the property sell.

Chris Mercer, director of the southern Spanish real estate company, Mercers, comments: “I can cite a recent example to emphasise the point.  We had a resale townhouse at La Noria, in the ancient Moorish town of Vejer de la Frontera, which was priced at €180,000 but after consulting with Mercers the vendor reduced the property to €150,000.  Mercers conducted an open day on an October Saturday and, of the five Spanish couples who attended, one put down €1,000 in cash and has since paid a full €3,000 deposit. We could have sold this three bedroom property to three of the potential buyers, without any doubt.”

Chris continues: “This scenario prompted us into having a conversation with La Noria’s developer to see if we could negotiate price discounts on the remaining units of the final phase as clearly, although there are buyers out there, they’re ultra price sensitive. Although he couldn’t quite match €150,000, mainly due to the fact that final phase homes are larger and have individual garaging, we’re now in a position to offer three bedroom townhouses with access to a communal swimming pool for €165,000.  This is incredible as their initial sales price in 2007 was €285,000 – a discount of 42 per cent. With an e-campaign to our database and another open day we are confident we can sell plenty more.”

Incredible vistas

Squeezed between the sierras and the sea on a hilltop some 200 metres above sea-level, Vejer de la Frontera mixes labyrinthine whitewashed streets with incredible vistas of the surrounding natural park and sweeping sandy coastline. Vejer is within easy access of Gibraltar (only 45 minutes), Europe’s oldest city Cádiz (20 minutes), Jerez International Airport (35 minutes) and within ten minutes of the famous, near-deserted beaches of the Costa de la Luz.

La Noria, Vejer de la Frontera, Spain

La Noria is situated on the Atlantic side of Vejer with many of the properties having distant views of the African continent. Very strict planning rules are enforced to ensure that all new properties blend seamlessly into the old town.

On the market in La Noria:

Three-bedroom townhouse (VEJ007)

Brand new Andalucian style mid-terrace townhouse extending over 105m² with security blinds and underground parking. The home has three bedrooms, the master with a Juliette balcony, two bathrooms and a fully equipped kitchen. Outdoor space includes both front and rear patios as well as a private rooftop solarium with far-reaching countryside views. The property accesses a communal swimming pool while Montenmedio Golf and Country Club with its excellent golfing and equestrian facilities is within a ten minute drive.

Price €155,000 discounted from €230,000 – a 33 per cent reduction.

Three-bedroom townhouse (VEJ012)

Remaining brand new units on the most recent phase of La Noria which is at the highest point of the development and offers the best views and orientation. Extending over 122m² these three-bedroom, two-bathroom homes benefit from private garaging as well as the typical La Noria distribution of front and rear patios and a private rooftop space ideal for soaking up the sun and the countryside views. The communal swimming pool is within a short walk as is the bustling town centre with its bars, restaurants and retail facilities.

Price €165,000 discounted from €285,000 in 2007 – a 42 per cent reduction.

Contact Mercers Costa de la Luz on 00 34 956 329 572, UK Local Rate 0845 017 7805 or visit www.spanishproperty.co.uk

© Stewart Andersen and Stewart Andersen’s Property Blog, 2009. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Stewart Andersen and Stewart Andersen’s Property Blog with appropriate and specific direction to the original content.

News Update

An Almeria development

Almanzora Group has completed holiday homes ready for occupation in the Harbour Lights waterfront development in Villaricos, one of the most sought-after locations on the Almeria coast in south-east Spain.

Villaricos is a traditional fishing village located on the coast between the Almanzora River and the Sierra Almagrera. It was once a Phoenician port and, in the nineteenth century, a silver mining boom town.

Today its two harbours are busy with fishing boats and, following new developments to accommodate an expanding local population, Villaricos has around 19 restaurants, cafés and bars. Most are Spanish and the village has retained its very Spanish character.

“Current market conditions mean that prices are at their lowest for six years with the price of a two-bedroom apartment at Harbour Lights at €147,500, a discount of almost one-third (30 per cent) off the list price,” says the firm’s sales and marketing manager Bridget Rosser. “Would-be owners who buy now will be put on a fast-track to completion to ensure that they are able to enjoy using their new holiday home this summer.”

Traditional small Spanish town

Currently available at Harbour Lights, the waterfront development overlooking the Esperanza harbour and a five-minute walk from the sandy Villaricos beach – are two-, three- and four-bedroom apartments and townhouses.

Designed in a style which reflects many aspects of traditional small Spanish town and village architecture, they are built in private and secure gated communities, around courtyards and a swimming pool, as well as around formal Spanish plazas, with orange trees, water features and quiet seating areas.

Villaricos is easy to reach thanks to three international airports. There are flights from the UK to Almeria Airport, around 40 minutes away from Harbour Lights by road, Alicante Airport (less than two hours away) and Murcia Airport (80 minutes by car). Airlines currently flying to the region include Ryanair, easyJet, Monarch, Jet2, Jetair Fly and Thomas Cook.

For more information call The Almanzora Group on 01242 680299 or visit the website:www.almanzora.com