Tag: Benahavís

Neinor Backs Costa del Sol with Construction of 1,500 Homes

2 July 2018 – Eje Prime

Neinor Homes is joining the wave along the Costa del Sol. The residential property developer has plans to construct a dozen promotions in the area, comprising 1,504 homes, which will be built over the next few months.

Estepona will be the nerve centre of the commitment on the Costa del Sol made by the listed real estate company led by Juan Velayos. With a mix plan, which will see the firm promote first and second homes for mainly international clients, Neinor will build up to 486 homes in the Estepona municipality.

Casares, with 134 homes; Vélez-Málaga, with 104 homes; Marbella, with 49 homes; and Benahavis, with 45 homes, are the other towns where Neinor Homes will be active along the Costa del Sol. Moreover, the property developer will build 558 new primary residence homes in the capital, Málaga, spread over three projects, according to Cinco Días.

Beyond the Málagan province, the real estate company led by Velayos will build another second residence project in Mojácar (Almería), where it will construct 96 homes. The director, who recently expressed his optimism about the future of the Spanish residential market, has the Israeli fund Adar Capita as its main shareholder, with 28.7% of the shares.

Neinor Homes has a plan underway to hand over 1,000 homes this year; another 2,000 in 2019; 4,000 homes in 2020 and another 8,000 between 2021 and 2022. In total, it will invest more than €1.5 billion in the purchase of land, as revealed by Eje Prime. Through its offices in Madrid, Barcelona, Bilbao, Valencia, Málaga and Córdoba, the property developer has 48 projects under construction at the moment.

Original story: Eje Prime 

Translation: Carmel Drake

Andalucía To Draft New “Land Use Plan” For Western Costa del Sol

5 September 2017 – Inmodiario

Following the cancellation by the Supreme Court of the Land Use Plan (POT or ‘Plan de Ordenación del Territorio’) approved in 2006, the Governing Board of the ‘Junta de Andalucía’ has started the process to prepare a new POT for the Western Costa del Sol.

As well as addressing the formal questions behind the legal ruling, the document will update and adapt to the changes that have been seen in the region in socioeconomic terms over the last ten years. The aim is to establish a new framework for urban and land development in the area, which comprises nine municipalities and has a population of almost 400,000. In addition, the plan will set objectives and supra-municipal organisation criteria for infrastructure, green spaces, and areas of growth.

To prepare the plan, the formulation decree approved by the Board establishes the creation of a drafting committee, which will comprise representatives of the central and regional administrations, as well as from the Provincial Council and the Town Halls in the district.

In general terms, the POT identifies those areas that should be protected from the urbanisation process due to their environmental, scenic cultural value, and those that should be allocated to the development of economic activities and the location of supra-municipal equipment and facilities, given their strategic value. All urban plans and public and private initiatives must adhere to these guidelines.

The POT for the Western Costa del Sol includes the following municipalities within its scope: Benahavís, Casares, Estepona, Fuengirola, Istán, Manilva, Marbella, Mijas and Ojén (…).

Original story: Inmodiario

Translation: Carmel Drake

Benahavís & La Moraleja Lead Ranking Of Spain’s Most Expensive Homes

4 September 2017 – Eje Prime

With an average price of €6 million per home, the two most exclusive urbanisations in Spain are getting more expensive by the year. La Zagaleta (pictured above) in Benahavís (Málaga) and La Moraleja in Madrid are the addresses with the most expensive homes for sale, according to a recent study performed by Idealista.

Specifically, owners in the Benahavís area of the Costa del Sol ask potential buyers for c. €5.6 million on average for a detached home (chalet). In the case of La Moraleja, the second most expensive area in Spain, the average price does not fall below €5 million. In third place is Calle del Castillo de Aysa, also in the Spanish capital, where properties cost around €5 million on average.

Below the €5 million mark are Avenida del Tibidabo in Barcelona (€4.83 million), Paseo de los Lagos in Pozuelo de Alarcón (Madrid), with an average price of €4.75 million and Avenida Miraflores in Madrid (€4.71 million).

The top 10 list is completed by Avenida Rocaferrera in the Catalan town of Sant Andreu de Llavaneres (€4.5 million), Paseo de Marquesa Viuda de Aldama (€4.4 million), Calle del Camino Ancho (€4.3 million) and Paseo de Conde Gaitanes (€3.8 million), all located in La Moraleja.

Original story: Eje Prime

Translation: Carmel Drake

La Zagaleta’s Owners To Build Luxury Homes For Millennials

30 April 2017 – Expansión

Located in the municipality of Castellar, in Cádiz, alongside the exclusive urbanisations of Sotogrande and Valderrama, the latest estate in the area is awaiting approval from the Town Hall to become a modern and luxurious residential resort. The site will also include a first-rate golf course and a five-star hotel. The project in question is Valderrama 2, an estate with a surface area spanning 220 hectares, which was acquired by the company La Zagaleta Limited last year.

The firm, which is headquartered in London and which owns another luxury residential development, known as La Zagaleta, purchased the Valderrama group, the company that owns this plot, as well as a golf course of the same name, regarded as the best in Spain and one of the best in the world, in an operation worth €40 million (…) in December 2015 (…).

The new project from the owners of La Zagaleta, considered the most luxurious urbanisation in Europe and located in the Malagan municipality of Benahavís, will also be for millionaires, but with certain differences. “In La Zagaleta, there are two lines: one with homes worth between €5 million and €8 million and the other with homes worth more than €11 million, which is the line we are promoting. Valderrama 2 is a different concept, its homes are worth between €3 million and €5 million, which buyers can easily finance if they want”, said Ignacio Pérez, Director of Business Development at La Zagaleta.

An integrated resort

Similarly, the new development, which will have a maximum of 200 homes, with plots of between 2,000 m2 and 3,000 m2, will be targeting a different public to La Zagaleta. (…). “The idea is to build homes without fences, like in Los Angeles or Florida, where you can see without being seen, which will incorporate the latest developments to meet the demands of the millennials”, he added. The objective of La Zagaleta is to sell these homes in advance so that its clients can personalise them during their construction. (…).

La Zagaleta expects construction to begin within three years. (…).

In total, the group expects to invest €200 million of its own funds developing the urbanisation over a ten year period, although that figure could rise to more than €400 million. “We will get on with building the homes, at a rate of around 20 per year, for example. The logical thing is to finance them over the long term so that buyers can easily subrogate those loans and purchase the properties using minimal own funds”.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake

Marbella, The Most Sought-After Spanish Real Estate Market

3 February 2016 – El Mundo

All the agents of the Spanish real estate market agree on stating that 2016 will be the year for the real estate recovery to settle down completely in Spain. One of the markets that reflect so perfectly is Marbella (Malaga), where an increase in the number of operations involving luxury properties has been observed, as declared by Lucas Fox, a real-estate agency specialised in top-quality market.

According to the Association of Architecs of Malaga, in 2015 492 planning permissions were authorised in Marbella. This town has presented a new-work property demand that exceeds supply.

Such new luxury dwellings are the most wanted, and most of them get sold in few months after release. Lucas Fox Marbella sale prices were positioned around 3.5 million Euros in 2015. Their most significant sale was to a US purchaser who bought a 12.5 million-Euro property in the exclusive residential area La Zagaleta.

And Marbella still remains one of the most appealing Spanish markets, particularly for the foreign investor. According to Stephen Lahiri, director of Lucas Fox Marbella, this destination “remains to be a favourite for many customers from the north of Europe, specially United Kingdom, Benelux and Scandinavia.” This reflects on the increase of foreign purchasers, whose profile is changing, since “there are ever younger and focus even more on lifestyle, design and quality”, adds Lahiri.

Lucas Fox opens new branch due to growing demand

As a response to such property demand resurgence in this popular Spanish area, Lucas Fox has recently inaugurated its sixth Property Lounge in the luxury district of Nueva Andalucia. The office will operate in luxury areas in Marbella and the surroundings regions, in addition to emerging zones such as Estepona and Benahavís.

“Since its conceiving in 2013, Lucas Fox Marbella has turned into an essential part of overall business,” adds Lahiri. “Our new Property Lounge reflects the need to place the good-quality property demand resurgence in this popular location in Spain,” he states.

Original story: El Mundo

Translation: Aura Ree