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24 FRIDAY 20TH SEPTEMBER 2019<br />
www.weekender.news<br />
Last chance to buy posh pad<br />
LA Zagleta urbanisation,<br />
close to Marbella, is said<br />
to be the most exclusive in<br />
the whole of Europe - and<br />
has just one property left<br />
for sale.<br />
Komorebi House is on<br />
a 3,700 m2 plot, overlooking<br />
the Mediterranean, the<br />
private golf course and the<br />
mountains and can be yours<br />
for a mere €16 million.<br />
The villa is 1,200 m2 with<br />
700m2 of terraces and has<br />
seven bedrooms, eight bathrooms,<br />
a spa, a gym and<br />
pool. The main living room<br />
is 350 m2, larger than most<br />
houses.<br />
La Zagleta has two private<br />
golf courses, a riding club,<br />
clubhouses and a long list of<br />
personal services such as a<br />
by Simon Russell<br />
concierge, maids, home automation<br />
and repairs as well<br />
as someone who will take<br />
care of all that bothersome<br />
Spanish paperwork for you.<br />
If you earn the average<br />
salary over here of €15,500,<br />
you will only have to save for<br />
1,032 years and the property<br />
will be yours.<br />
Sales still on the up<br />
by Simon Russell<br />
HOUSE sales across Spain increasd<br />
by 3.8% in July compared<br />
to the same period in<br />
2018, the National Statistics<br />
Office confirmed this week.<br />
The 47,890 sales was the<br />
highest monthly figure since<br />
May 2008 and showed that the<br />
slight drop in June was a blip<br />
rather than a trend.<br />
For the year as a whole sales<br />
of new build properties are<br />
up by 12.1% and second hand<br />
homes by 2.1%.<br />
Turning billions into millions<br />
by Simon Russell<br />
A Marina Alta urbanisation<br />
that was planned to<br />
be one of the most prestigious<br />
in Spain is up for<br />
sale for 15 million euros,<br />
a tiny fraction of the<br />
projected initial worth.<br />
At the height of the property<br />
boom in 2003 work<br />
started on the Penya Roja<br />
in Pego, a golf development<br />
of up to 2,000 luxury<br />
houses.<br />
However work ground to a<br />
halt in 2008 as the economic<br />
crisis hit and the developers<br />
went bankrupt.<br />
None of the properties<br />
have been completed and<br />
the site has been described<br />
as a “concrete cemetery”.<br />
However the 170,000 m2<br />
plot is still urbanised land,<br />
although any new developer<br />
will have to first decide what<br />
to do with the skeletons of<br />
the hundreds of unfinished<br />
apartments and villas, many<br />
of which have become exposed<br />
to looting and vandalism.<br />
READ US ONLINE:<br />
www.weekender.news<br />
The shell of the Penya Roja project mars the Pego skyline