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<strong>ADS</strong> 45.qxp_Layout 1 24/11/19 19:50 Página 1
<strong>ADS</strong> 45.qxp_Layout 1 24/11/19 19:53 Página 3<br />
<br />
CHARACTERISTICS CARACTERISTICAS<br />
The magazine is a free high quality publication. Reader profile: Tourist and residents with medium and high income.<br />
La revista es una publicación gratuita de alta calidad. Perfil del lector: Residentes, propietarios de casas y turistas, amantes<br />
de la Costa del Sol que tienen la intención de residir en la costa.<br />
DISTRIBUTION DISTRIBUCIÓN<br />
The magazines are distributed to more than 250 locations between Mijas and Estepona at the best restaurants, cafés, hotels,<br />
golf courses, tourist offices or private medical clinics.<br />
La revista se distribuye en más de 250 puntos entre Marbella, Estepona, Sotogrande, Mijas, Fuengirola y Benálmadena<br />
en los mejores restaurantes y cafeterías, hoteles, campos de golf, clubs de tenis, gimnasios, oficinas de turismo, bancos,<br />
tiendas de decoración y clínicas privadas.<br />
OTHER DATES OTROS DATOS<br />
Magazine is published in English and Spanish 4 times a year.<br />
Dates of publication: Beginning of March, June, September and December.<br />
Print run: between 10.000 and 14.000 magazines per edition.<br />
Revista inglesa/española: trimestral (4 ediciones/año)<br />
Fechas de publicación: principios de septiembre, diciembre, marzo y junio.<br />
Tirada entre 10.000 y 14.000 ejemplares/edición.<br />
DOBLE PAGINA<br />
800€<br />
+IVA<br />
PAGINA ENTERA<br />
500€<br />
+IVA<br />
Fernando Moreno<br />
1/2 PAG. HORIZONTAL<br />
300€<br />
+IVA<br />
<br />
TILES - BATHROOM - KITCHEN - FURNITURE - DECORATION - BUILDING MATERIAL - HARDWARE<br />
Timetable Showroom<br />
C/ Gorrión s/n,<br />
TLF. +34 952 78 00 06<br />
29670 San Pedro de Alcántara<br />
info@fernandomoreno.es<br />
Monday - Friday 10.00 - 20.00<br />
Marbella, Málaga<br />
Saturday 10.00 - 14.00 www.fernandomoreno.es<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
420 x 297mm<br />
210 x 297mm H 190 x 140mm<br />
NETWORKING<br />
Participate at our Networking Events and build and maintain valuable business relationships.<br />
Participa en nuestros eventos de colaboración y crea y mantiene contactos valiosas<br />
DIRECT & RECOMMENDED CLIENTS CLIENTES DIRECTOS Y RECOMENDADOS<br />
Get direct clients through you advertisement and also recommended clients through you collaboration with the best<br />
real estate agencies.<br />
Obtenga clientes directos con su anuncio y también clientes recomendados mediante sus colaboraciones con las mejores<br />
agencias inmobiliarias.<br />
LOCAL CLIENTS CLIENTES LOCALES<br />
Get local clients straight to your door with our extensive monthly distribution to the best places of the Costa del Sol.<br />
Clientes locales directo a tu negocio con nuestra distribución mensual extensa a los mejores sitios de la Costa del Sol.<br />
INTERNATIONAL CLIENTS CLIENTES INTERNACIONALES<br />
Get international clients visiting your web through the online magazine with a direct link from your advertisement which is<br />
read by over 2.000 unique readers per month (increasing fast).<br />
Atrae clientes internacionales a tu página web a través de las revistas online con un link directo desde tu anuncio. Las revistas<br />
online tienen mas de 2.000 lectores únicos al mes (incrementando rápido).<br />
Calle Notario Luis Oliver, Nº6, 6-D • 29602 Marbella, Málaga. Spain<br />
Tel: (+34) 951 77 57 90 • info@adsmarketing.es • www.adsmarketing.es
CONTENTS No.<strong>49</strong> 2021<br />
WINTER<br />
DOCA TOP QUALITY KITCHENS AND WARDROBES 04<br />
SIERRA NEVADA 06<br />
FERNANDO MORENO - INTERIOR DESIGN 10<br />
THE BEST PROPERTIES ON THE COSTA DEL SOL 15<br />
DRG LAWYERS - LEGAL ADVICE 23<br />
MARTINEZ ECHEVARRIA - LEGAL ADVICE 31<br />
ARQUITUD: REFORM & BUILDING WORK 39<br />
GENERALI HOME INSUTANCE 47<br />
VDK FLAGS 55<br />
SANCHEZ & BECK - LEGAL ADVICE 63<br />
PUERTAMATIC 83<br />
THE RESIDENTIAL SECTOR IN SPAIN 2020 100<br />
ASESORIA GLOBAL ANDALUZA 104<br />
OPTIMA-CRM 104<br />
Publicado por: / Published by:<br />
ads<br />
info@adsmarketing.es<br />
DIRECTOR / PUBLISHER:<br />
Stefan Knöbel - s.knobel@adsmarketing.es<br />
Andrés Vallejo Herrmann - a.vallejo@adsmarketing.es<br />
Depósito Legal: MA377-2009<br />
www.adsmarketing.es<br />
While every effort is made to check the accuracy of information contained in this publication, <strong>ADS</strong> Magazine<br />
cannot accept responsibility for any errors or omissions, nor for the authenticity of any claims or statements<br />
made by third parties. We therefore strongly recommend that readers make their own thorough checks before<br />
entering into any kind of transaction.<br />
The views and opinions of editorial contributors do not necessarily reflect those of <strong>ADS</strong> Magazine.<br />
Prices offered by vendors were correct at the time of going to press but may now vary from those listed due<br />
to circumstances beyond <strong>ADS</strong> Magazine's control.<br />
The Estate Agents advertising in this publication are the parties solely responsible for complying with the<br />
obligations established by Decree 218/2005 of the Junta de Andalucía appertaining to the information and<br />
documentation of the properties advertised.<br />
Additional costs to be borne by the buyer: 7% I.T.P. levied on the purchase price, plus land registry and notary fees.<br />
© Copyright: No editorial content, maps, photography or graphics in this magazine may be reproduced in any<br />
way, shape or form without prior written consent from <strong>ADS</strong> Magazine.<br />
we<br />
dedicate<br />
our<br />
efforts<br />
to<br />
provide<br />
the<br />
best<br />
sanitary<br />
material<br />
<strong>ADS</strong> no se responsabiliza de los comentarios y opiniones realizados por los colaboradores, pues no<br />
necesariamente reflejan las ideas de la Editorial.<br />
<strong>ADS</strong> intenta contrastar la exactitud de la información contenida en cada publicación, si bien no se responsabiliza<br />
de ningún error u omisión, ni de la autenticidad de las declaraciones hechas por terceros, por lo que recomienda<br />
a sus lectores realizar la correspondiente comprobación antes de efectuar cualquier transacción.<br />
Los precios reflejados son los ofrecidos por los anunciantes a fecha de cierre de cada edición, siendo<br />
susceptibles de variación bajo responsabilidad del propio anunciante.<br />
Sobre el precio fijado el comprador deberá añadir los gastos e impuestos propios de cada compraventa según<br />
se acuerde en la misma. Las Agencias Inmobiliarias publicitadas serán las únicas responsables de las<br />
obligaciones establecidas en el Decreto 218/2005 de la Junta de Andalucía, perteneciéndoles la información y<br />
la documentación de las propiedades anunciadas.<br />
© Copyright: Los textos publicitarios que se publican, mapas, fotografías, diseños, etc., son propiedad de la<br />
Revista <strong>ADS</strong>, quedando prohibida su reproducción total o parcial en cualquier otro medio de divulgación,<br />
impreso o electrónico, salvo previo consentimiento por escrito. Igualmente se prohíbe la utilización de los<br />
materiales publicados para fines comerciales.<br />
POL. IND. LA ERMITA C/ DIAMANTE Nº2 (NAVE 2)<br />
CP 29.603 MARBELLA (MALAGA) SPAIN<br />
T. 951 70 00 25<br />
JUANCRUZ@RESASUR.COM<br />
WWW.RESASUR.COM
GRANADA: SIERRA NEVADA<br />
Fotos cortesía de: Cetursa Sierra Nevada
Sierra Nevada<br />
opens on December<br />
18th with reduced<br />
capacity on pistes<br />
and exclusive sale<br />
of fortait online<br />
The winter season of Sierra Nevada will open the 2020/21<br />
season on Friday, December 18, and, following the<br />
recommendations of the Ministry of Health and Family of the<br />
Junta de Andalucía, will do so with a limitation of 50% of<br />
the capacity that allow the slopes and sale of online ski<br />
passes exclusively.<br />
With these conditions, Sierra Nevada establishes the following<br />
operating scenario as of December 18:<br />
For the limitation of 50% access to ski domain, Sierra Nevada<br />
- which will deduct from the capacity the holders of seasonal<br />
ski passes, long duration and holders of ski days not<br />
consumed by the premature closure of the previous season -<br />
will inform daily on the website the percentage of ski passes<br />
that can be acquired and will block those days that are<br />
complete.<br />
All sales will be online. To this end, Sierra Nevada yesterday<br />
concluded the campaign to send free rechargeable ski pass<br />
cards without having made a prior purchase. From today that<br />
shipment will also be free, but it will require the purchase of<br />
at least one day of skiing.<br />
Alternatively, for last minute purchases, rechargeable ski pass<br />
collection points will be established in Pradollano. In the case<br />
of day pass, previously purchased online, it can be picked up<br />
from the automatic ski pass dispensers of the station with the<br />
introduction of the digital purchase code.<br />
Cetursa Sierra Nevada requests the collaboration of all<br />
companies, freelancers, users and friends of the station in<br />
compliance with the COVID protocol published on the<br />
station's website, in order to strengthen the seasons and<br />
winter sports as safe places and practices.<br />
GRANADA: SIERRA NEVADA 07
GRANADA: SIERRA NEVADA<br />
nightskiing<br />
For more than two decades, enthusiasts at Sierra Nevada have<br />
been enjoying skiing under the stars, sliding within the silent<br />
illuminated night... through the El Rio and Maribel tracks. This<br />
service is available to the public every Saturday of the season.<br />
While skiers run the Rio and Maribel slopes during the evening<br />
hours, non-skiers can enjoy stargazing in Borreguiles<br />
thefamily<br />
There is a site for families to visit in Sierra Nevada: “Pista del<br />
Mar” slope. Nestled in the heart of Borreguiles, the “Pista del<br />
Mar” slope is the hub of family fun, with its huge marine gures<br />
marking the route and its children’s activities prepared for the<br />
entire family. Not very far away is the “Pista El Bosque” slope,<br />
decorated with mountain animal gures, as well as the Alpine<br />
Garden, where children make their rst ski runs when they are<br />
still learning to walk. The “Chikiclub” restaurant has special<br />
menus for children and rounds out the family experience in the<br />
ski area. The experience however continues in the Pradollano<br />
residential complex.
sportsevents
INTERIOR DESIGN: FERNANDO MORENO
MAKE YOUR FUTURE HOME OR BUSINESS A REALITY<br />
Professional advice<br />
Because in its facilities in Las Medranas, in San Pedro<br />
Alcántara, you can find from concrete for the structure of<br />
your home up to the last detail you need to decorate<br />
your indoor and outdoor areas. Bathrooms, sanitary,<br />
kitchens, home appliances, indoor and outdoor<br />
furniture, lighting, etc. And you can count on the advice<br />
of a team of professionals that will help you to discover<br />
what are the best options for you to turn your house<br />
into a dream home. Fernando Moreno goes further and<br />
has extensive experience in decorating, reforming and<br />
designing houses and commercial premises. Helping<br />
you find your style and translate it into your home, your<br />
business or in one of your rooms. With Fernando<br />
Moreno you can carry out comprehensive decoration<br />
projects, all without leaving their facilities. Visualizing in<br />
3D how your project will be before making it reality and<br />
receiving the advice of experts who will help you make<br />
reality the ideas you have about your future home or<br />
business according to your tastes and needs.<br />
Definitely, Fernando Moreno makes your future home<br />
come true and makes it the home you have always<br />
dreamed of. And all this is possible to everyone thanks<br />
to the services and products offered by this local family<br />
company.<br />
You will be able to visualize in 3D<br />
the decoration project of your home or<br />
commercial premises<br />
Creating a home according to your taste is the<br />
culmination for those who buy a house. Adapt it to the<br />
trends of the moment. Give it your personality in details.<br />
INTERIOR DESIGN: FERNANDO MORENO 11
INTERIOR DESIGN: FERNANDO MORENO<br />
Official distributors of<br />
international brands<br />
Fernando Moreno has extensive facilities of 5,000 m2 of<br />
showroom and 15,000 m2 of warehouse where you can<br />
find a wide range of bathroom products, kitchens,<br />
furniture, decoration, wall and floor tiles, Building<br />
materials, hardware store, etc. We are official distributors<br />
of internationally recognized design brands. Like<br />
Poltrona Frau, an Italian company of the highest quality<br />
founded in 1912 by Renzo Frau in Turin and specialized<br />
in leather furniture’s for indoor and automotive<br />
applications. Or like Ernestomeda, the prestigious firm<br />
of high quality Italian kitchens whose rule is always<br />
consider the context in which the kitchen is to be<br />
installed, taking care of even the smallest detail so that it<br />
fits harmoniously with the environment and with the rest<br />
of the house. Without forgetting Florim, an Italian<br />
company with sixty years of experience turning grains of<br />
sand into ceramic for wall and floor tiles of an<br />
internationally recognized quality. As you can see,<br />
Fernando Moreno has the materials and the most<br />
comprehensive products and services to help you. And<br />
also the best professionals to turn a house into your<br />
dream home or a place into your dream business.
Fernando Moreno<br />
MORE THAN 50 YEARS OF EXPERIENCE IN<br />
COSTA DEL SOL<br />
“ DESIGN YOUR HOME WITH US ”<br />
WWW.FERNANDOMORENO.ES<br />
C/Gorrión s/n · 29670 · San Pedro de Alcántara, Marbella (Málaga) · info@fernandomoreno.es · +34 952 78 00 06
info@adstour.es +34 951 775 790 www.adstour.es<br />
PHOTOGRAPHY<br />
FROM 100€<br />
AERIAL<br />
PHOTOGRAPHY<br />
FROM 290€<br />
VIDEO<br />
FROM 250€<br />
PHOTOGRAPHY VIDEO AERIAL PHOTOGRAPHY TOUR 360 TIMELAPSE
The best<br />
Properties<br />
on the<br />
Costa del Sol<br />
On the following pages we present a small selection<br />
of our best properties on the Costa del Sol.<br />
However, if you cannot find your dream home among<br />
them, please contact us as we also have many other<br />
properties available to show you.<br />
For further information on any of these properties,<br />
please get in touch. See our contact details on the<br />
inside front cover.
RUSTIC STYLE<br />
TOWNHOUSE<br />
IN CANCELADA<br />
CITY CENTER<br />
Ref PH9974<br />
115.000€<br />
1<br />
BED<br />
1<br />
BATH<br />
71<br />
m 2 BUILT<br />
16 CONTACT US
RENOVATED<br />
APARTMENT 200 M<br />
FROM THE BEACH IN<br />
BENALMADENA<br />
Ref V24007<br />
143.000€<br />
1<br />
BEDS<br />
1<br />
BATH<br />
40<br />
m 2 BUILT<br />
CONTACT US 17
PENTHOUSE WITH<br />
LARGE SOLARIUM<br />
AND SEA VIEWS<br />
IN CASARES COSTA<br />
Ref PH9584<br />
165.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
75<br />
m 2 BUILT<br />
156<br />
m 2 TERRACE<br />
18 CONTACT US
SPACIOUS GROUND<br />
FLOOR APARTMENT<br />
WITH LARGE TERRACE<br />
IN BEL AIR<br />
Ref PH9588<br />
190.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
122<br />
m 2 BUILT<br />
32<br />
m 2 TERRACE<br />
CONTACT US 19
THE PERFECT<br />
PLACE IN ARROYO<br />
DE LA MIEL,<br />
BENALMÁDENA<br />
Ref AP16020<br />
FROM 203.000€<br />
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virtual tours<br />
360<br />
2-4<br />
BEDS<br />
2-4<br />
BATHS<br />
76<br />
m 2 BUILT<br />
25<br />
m 2 TERRACE<br />
20 CONTACT US
DELUXE FULLY<br />
FURNISHED<br />
GROUND FLOOR<br />
IN BEL AIR<br />
Ref AP9824<br />
225.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
97<br />
m 2 BUILT<br />
10<br />
m 2 TERRACE<br />
CONTACT US 21
BARGAIN!<br />
LARGE<br />
APARTMENT<br />
IN MARBELLA<br />
Ref AP4047<br />
229.000€<br />
3<br />
BEDS<br />
2,5<br />
BATHS<br />
165<br />
m 2 BUILT<br />
25<br />
m 2 TERRACE<br />
22 CONTACT US
LOVELY<br />
APARTMENT IN<br />
THE GOLF VALLEY<br />
NUEVA ANDALUCIA<br />
Ref AP4028<br />
235.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
110<br />
m 2 BUILT<br />
12<br />
m 2 TERRACE<br />
24 CONTACT US
BEACHSIDE<br />
GROUND FLOOR<br />
APARTMENT WITH<br />
LARGE TERRACE<br />
Ref AP4558<br />
2<strong>49</strong>.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
111<br />
m 2 BUILT<br />
195<br />
m 2 TERRACE<br />
CONTACT US 25
SPACIOUS &<br />
LUMINOUS<br />
TOWNHOUSE<br />
IN ATALAYA<br />
Ref TH9240<br />
250.000€<br />
3<br />
BEDS<br />
2,5<br />
BATHS<br />
201<br />
m 2 BUILT<br />
67<br />
m 2 TERRACE<br />
26 CONTACT US
CONTEMPORARY<br />
MEDITERRANEAN<br />
STYLING IN<br />
LA CALA DE MIJAS<br />
Ref AP15075<br />
FROM 251.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
105<br />
m 2 BUILT<br />
25<br />
m 2 TERRACE<br />
CONTACT US 27
SUPERB FRONT<br />
LINE BEACH<br />
APARTMENT<br />
WITH SEA VIEWS<br />
Ref AP9<strong>49</strong>2<br />
295.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
86<br />
m 2 BUILT<br />
10<br />
m 2 TERRACE<br />
28 CONTACT US
EXCLUSIVE<br />
APARTMENT<br />
NEXT TO HOTEL<br />
VILLA PADIERNA<br />
Ref AP6257<br />
295.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
111<br />
m 2 BUILT<br />
42<br />
m 2 TERRACE<br />
CONTACT US 29
LOVELY DUPLEX<br />
PENTHOUSE<br />
LOCATED<br />
IN EL PARAISO<br />
Ref PH22987<br />
295.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
122<br />
m 2 BUILT<br />
78<br />
m 2 TERRACE<br />
30 CONTACT US
EXCLUSIVE<br />
NEW BUILD<br />
FRONT LINE GOLF<br />
IN SAN ROQUE<br />
Ref AP15080<br />
FROM 296.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
90<br />
m 2 BUILT<br />
41<br />
m 2 TERRACE<br />
32 CONTACT US
FRONT LINE<br />
GOLF VIEWS AND<br />
EVENING SUN<br />
IN ESTEPONA<br />
Ref AP15045<br />
FROM 299.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
115<br />
m 2 BUILT<br />
62<br />
m 2 TERRACE<br />
CONTACT US 33
PANORAMIC VIEWS<br />
OF THE GOLF COURSE<br />
AND THE MOUNTAINS<br />
LA CALA DE MIJAS<br />
Ref AP15050<br />
FROM 314.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
154<br />
m 2 BUILT<br />
60<br />
m 2 TERRACE<br />
34 CONTACT US
SEMI-DETACHED<br />
HOUSE WITH LARGE<br />
TERRACE AREAS &<br />
LARGE BASEMENT<br />
Ref TH6292<br />
315.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
306<br />
m 2 BUILT<br />
140<br />
m 2 TERRACE<br />
CONTACT US 35
AN EXCLUSIVE<br />
RESORT WITH<br />
SEA VIEWS<br />
IN MIJAS COSTA<br />
Ref AP16002<br />
FROM 320.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
2-4<br />
BEDS<br />
2-3<br />
BATHS<br />
93<br />
m 2 BUILT<br />
37<br />
m 2 TERRACE<br />
36 CONTACT US
GORGEOUS<br />
APARTMENT IN<br />
THE VERY CENTRE<br />
OF FUENGIROLA<br />
Ref V24007<br />
327.000€<br />
2<br />
BEDS<br />
1<br />
BATH<br />
80<br />
m 2 BUILT<br />
CONTACT US 37
BEAUTIFUL<br />
& LUXURY<br />
APARTMENT<br />
IN LOS FLAMINGOS<br />
Ref AP22516<br />
338.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
109<br />
m 2 BUILT<br />
27<br />
m 2 TERRACE<br />
38 CONTACT US
BUILD YOUR DREAMS<br />
reform & building work<br />
REHABILITATION / REFORM<br />
DECORATION / INTERIOR DESIGN<br />
a.archilla@arquitud.es<br />
Tel: +34 670 09 52 69<br />
Avd. Canovas del Castillo 54, 6º 1, 29601, Marbella
EXCLUSIVE<br />
NEW BUILD<br />
IN LA MARINA<br />
DE SOTOGRANDE<br />
Ref PH15282<br />
FROM 342.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
141<br />
m 2 BUILT<br />
26<br />
m 2 TERRACE<br />
40 CONTACT US
SPACIOUS<br />
DUPLEX<br />
PENTHOUSE<br />
IN BEL AIR<br />
Ref PH9215<br />
350.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
125<br />
m 2 BUILT<br />
36<br />
m 2 TERRACE<br />
CONTACT US 41
SPACIOUS<br />
APARTMENT NEXT<br />
TO CENTRO PLAZA -<br />
NUEVA ANDALUCIA<br />
Ref AP22356<br />
365.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
124<br />
m 2 BUILT<br />
18<br />
m 2 TERRACE<br />
42 CONTACT US
READY TO MOVE<br />
IN GROUND FLOOR<br />
APARTMENT,<br />
NUEVA ANDALUCIA<br />
Ref AP8820<br />
425.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
119<br />
m 2 BUILT<br />
42<br />
m 2 TERRACE<br />
CONTACT US 43
ECOLOGY AND<br />
BIOCLIMATIC<br />
ARCHITECTURE<br />
IN BENAHAVIS<br />
Ref AP15040<br />
FROM 430.000€<br />
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BATHS<br />
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m 2 BUILT<br />
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m 2 TERRACE<br />
44 CONTACT US
FANTASTIC DUPLEX<br />
PENTHOUSE IN<br />
GAZULES DEL SOL<br />
ATALAYA ALTA<br />
Ref PH22087<br />
4<strong>49</strong>.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
150<br />
m 2 BUILT<br />
71<br />
m 2 TERRACE<br />
CONTACT US 45
APARTMENT WITH<br />
FANTASTIC VIEWS<br />
OF THE COAST 5 MIN<br />
FROM THE BEACH<br />
Ref AP66002<br />
450.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
4<br />
BEDS<br />
4,5<br />
BATHS<br />
220<br />
m 2 BUILT<br />
60<br />
m 2 PLOT<br />
46 CONTACT US
BRAND NEW<br />
TOWNHOUSES<br />
FRONT LINE GOLF<br />
LA CALA DE MIJAS<br />
Ref AP15225<br />
FROM 461.500€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
105<br />
m 2 BUILT<br />
25<br />
m 2 TERRACE<br />
48 CONTACT US
SPACIOUS<br />
TOWNHOUSE<br />
IN NUEVA<br />
ANDALUCIA<br />
Ref TH30291<br />
<strong>49</strong>5.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
145<br />
m 2 BUILT<br />
50<br />
m 2 PLOT<br />
CONTACT US <strong>49</strong>
THREE BEDROOM<br />
GROUND FLOOR<br />
APARTMENT<br />
IN MARBELLA<br />
Ref AP30833<br />
<strong>49</strong>8.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
122<br />
m 2 BUILT<br />
140<br />
m 2 PLOT<br />
50 CONTACT US
EXCLUSIVE NEW<br />
BUILD PENTHOUSES<br />
AND APARTMENTS<br />
IN LA QUINTA<br />
Ref AP15035<br />
FROM 555.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
106<br />
m 2 BUILT<br />
64<br />
m 2 TERRACE<br />
CONTACT US 51
FOUR BEDROOM<br />
FULLY RENOVATED<br />
TOP FLOOR APART-<br />
MENT IN LA QUINTA<br />
Ref AP8838<br />
575.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
174<br />
m 2 BUILT<br />
37<br />
m 2 TERRACE<br />
52 CONTACT US
BEAUTIFUL<br />
TOWNHOUSE NEXT<br />
TO THE ALOHA<br />
GOLF COURSE<br />
Ref TH22286<br />
595.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
192<br />
m 2 BUILT<br />
75<br />
m 2 TERRACE<br />
CONTACT US 53
SOUTH FACING,<br />
GROUND FLOOR<br />
APARTMENT,<br />
SAN PEDRO PLAYA<br />
Ref TH26362<br />
595.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
109<br />
m 2 BUILT<br />
59<br />
m 2 TERRACE<br />
54 CONTACT US
MODERN LUXURY<br />
PENTHOUSE IN EX-<br />
CELLENT LOCATION<br />
IN ESTEPONA<br />
Ref PH30237<br />
625.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
93<br />
m 2 BUILT<br />
103<br />
m 2 TERRACE<br />
56 CONTACT US
GREAT DUPLEX<br />
PENTHOUSE<br />
WITH GOLF VIEWS<br />
IN BENAHAVIS<br />
Ref PH 14<strong>49</strong><br />
635.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
173<br />
m 2 BUILT<br />
237<br />
m 2 TERRACE<br />
CONTACT US 57
MODERN RENOVATED<br />
3 BEDROOM<br />
PENTHOUSE<br />
IN MARBELLA<br />
Ref PH40122<br />
6<strong>49</strong>.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
135<br />
m 2 BUILT<br />
65<br />
m 2 TERRACE<br />
58 CONTACT US
GREAT BEACHSIDE<br />
PENTHOUSE<br />
NEXT TO<br />
PUERTO BANUS<br />
Ref AP4217<br />
650.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
172<br />
m 2 BUILT<br />
89<br />
m 2 TERRACE<br />
CONTACT US 59
TWO BEDROOM<br />
DUPLEX TOP FLOOR<br />
APARTMENT IN<br />
SAN PEDRO BEACH<br />
Ref AP8869<br />
660.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
134<br />
m 2 BUILT<br />
33<br />
m 2 TERRACE<br />
60 CONTACT US
FRONTLINE<br />
GOLF<br />
TOWN HOUSE IN<br />
NUEVA ANDALUCIA<br />
Ref TH8366<br />
680.000€<br />
3<br />
BEDS<br />
3+1<br />
BATHS<br />
385<br />
m 2 BUILT<br />
100<br />
m 2 TERRACE<br />
CONTACT US 61
GROUND FLOOR<br />
APARTMENT<br />
FRONT LINE BEACH<br />
NEW GOLDEN MILE<br />
Ref AP9699<br />
685.000€<br />
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virtual tours<br />
360<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
146<br />
m 2 BUILT<br />
45<br />
m 2 TERRACE<br />
62 CONTACT US
ABOGADOS<br />
Despacho especializado en todo tipo<br />
de procedimientos judiciales de materia<br />
civil, penal, administrativa, mercantil e<br />
inmobiliario, así como asesoramiento<br />
extrajudical, emisión de dictámenes<br />
e informes jurídicos e intervención en<br />
compraventas y otros contratos.<br />
Nuestra filosofía es la del trabajo<br />
serio, profesional, honesto y<br />
dinámico, prestando a nuestros<br />
clientes un servicio directo y<br />
personalizado.<br />
LAWYERS<br />
Law firm that specialises in all kinds<br />
of court proceedings of civil, criminal,<br />
administrative, company and real<br />
estate nature as well as in delivery of<br />
legal opinions, advice, legal reports<br />
and intervention in sale/purchase<br />
operations and other contracts.<br />
Our philosophy is that of responsible,<br />
professional, honest and dynamic<br />
work and rendering a direct and oneto-one<br />
service to our clients in which<br />
correct and close attention prevail.<br />
ANWÄLTE<br />
Unsere Kanzelei befasst sich mit<br />
Rechtsverfahren in Zivil-, Straf-,<br />
Verwaltungs-, Arbeits-, Handelsund<br />
Immobilienrecht. Wir beraten<br />
Sie auch in aussergerichtlichen<br />
Angelegenheiten, erstellen Gutachten<br />
und leisten Ihnen juristischen<br />
Beistand bei Immobilienkäufen und<br />
anderen Vertragsabschlüssen. Unser<br />
oberstes Gebot ist eine seriöse,<br />
kompetente, dynamische und<br />
ehrliche Dienstleistung mit einer<br />
personalisierten, direkten Betreuung<br />
unserer Mandanten.<br />
AVOCATS<br />
Un cabinet d’avocats spécialisés dans<br />
les procédures judiciaires de tous types;<br />
en matière civile, pénale, administrative,<br />
commerciale et dans l’immobilier, ainsi<br />
que dans le conseil juridique, dans<br />
l’émission de rapports et d’expertises<br />
juridiques et dans le contrat de vente et<br />
d’achat et autres contrats.<br />
Notre philosophie est celle d’un<br />
travail sérieux, professionnel,<br />
honnête, dynamique, assurant à<br />
nos clients un service directe et<br />
personnalisé. L’attention à notre<br />
clientèle est personnalisée et juste.<br />
C/ Notario Luis Oliver, 6, 6ª<br />
Marbella 29602 Málaga (ESPAÑA)<br />
Tel. (0034) 952 903 306<br />
Fax (0034) 952 902 608<br />
sanchez-beck@abogadosmarbella.net<br />
www.abogadosmarbella.net
AMAZING<br />
APARTMENT WITH<br />
THE BEST VIEWS<br />
IN PUERTO BANUS<br />
Ref PH22133<br />
695.000€<br />
2<br />
BEDS<br />
1<br />
BATHS<br />
100<br />
m 2 BUILT<br />
10<br />
m 2 TERRACE<br />
64 CONTACT US
STYLISH<br />
APARTMENT IN A<br />
MODERN COMPLEX<br />
IN NUEVA ANDALUCIA<br />
Ref AP30225<br />
695.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
109<br />
m 2 BUILT<br />
38<br />
m 2 TERRACE<br />
CONTACT US 65
SPECTACULAR<br />
COUNTRY HOUSE<br />
WITH SEA VIEWS<br />
IN ESTEPONA<br />
Ref V6187<br />
700.000€<br />
3<br />
BEDS<br />
3,5<br />
BATHS<br />
520<br />
m 2 BUILT<br />
2.188<br />
m 2 PLOT<br />
66 CONTACT US
LOVELY TWO<br />
LEVEL VILLA IN<br />
A SOUGHT AFTER<br />
AREA IN ELVIRIA<br />
Ref V18220<br />
795.000€<br />
5<br />
BEDS<br />
4<br />
BATHS<br />
300<br />
m 2 BUILT<br />
1.300<br />
m 2 PLOT<br />
CONTACT US 67
TOWNHOUSE<br />
A FEW METERS<br />
FROM THE BEACH,<br />
SAN PEDRO PLAYA<br />
Ref TH26361<br />
795.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
179<br />
m 2 BUILT<br />
41<br />
m 2 TERRACE<br />
68 CONTACT US
BRIGHT 3 BEDROOM<br />
TOWNHOUSE,<br />
BEACH SIDE<br />
IN SAN PEDRO<br />
Ref TH40468<br />
795.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
220<br />
m 2 BUILT<br />
50<br />
m 2 PLOT<br />
CONTACT US 69
4 BEDROOM<br />
DETACHED VILLA<br />
IN SAN PEDRO DE<br />
ALCÁNTARA<br />
Ref V40688<br />
795.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
250<br />
m 2 BUILT<br />
937<br />
m 2 PLOT<br />
70 CONTACT US
LARGE VILLA<br />
WITH LOT OF<br />
POTENTIAL<br />
IN MARBELLA<br />
Ref V<strong>49</strong>90<br />
799.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
405<br />
m 2 BUILT<br />
1.087<br />
m 2 PLOT<br />
CONTACT US 71
BEACHSIDE SEMI<br />
DETACHED VILLA<br />
WITH PRIVATE<br />
SWIMMING POOL<br />
Ref V<strong>49</strong>17<br />
865.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
250<br />
m 2 BUILT<br />
160<br />
m 2 PLOT<br />
72 CONTACT US
BRIGHT AND<br />
LUMINOUS DUPLEX<br />
PENTHOUSE<br />
IN ESTEPONA<br />
Ref PH26397<br />
925.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
128<br />
m 2 BUILT<br />
136<br />
m 2 TERRACE<br />
CONTACT US 73
NEW LUXURY<br />
VILLA<br />
IN SIERREZUELA<br />
MIJAS<br />
Ref V24005<br />
975.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
4<br />
BEDS<br />
4,5<br />
BATHS<br />
303<br />
m 2 BUILT<br />
950<br />
m 2 PLOT<br />
74 CONTACT US
CONTACT US 75
STUNNING<br />
WEST FACING<br />
APARTMENT<br />
IN MARBELLA<br />
Ref AP1185<br />
995.000€<br />
2<br />
BEDS<br />
2<br />
BATHS<br />
188<br />
m 2 BUILT<br />
30<br />
m 2 TERRACE<br />
76 CONTACT US
PENTHOUSE IN<br />
EL PARAISO WITH<br />
PRIVATE POOL<br />
ON THE TERRACE!<br />
Ref PH22527<br />
1.100.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
158<br />
m 2 BUILT<br />
203<br />
m 2 TERRACE<br />
CONTACT US 77
BRAND NEW<br />
CONTEMPORARY<br />
VILLA<br />
IN ESTEPONA<br />
Ref V26462<br />
1.275.000€<br />
4<br />
BEDS<br />
4<br />
BATHS<br />
342<br />
m 2 BUILT<br />
93<br />
m 2 TERRACE<br />
555<br />
m 2 PLOT<br />
78 CONTACT US
LUXURY<br />
FRONTLINE BEACH<br />
PROPERTY<br />
IN MARBELLA<br />
Ref AP<strong>49</strong>14<br />
1.290.000€<br />
3<br />
BEDS<br />
3<br />
BATHS<br />
192<br />
m 2 BUILT<br />
30<br />
m 2 TERRACE<br />
CONTACT US 79
STUNNING<br />
BEACHSIDE<br />
PENTHOUSE<br />
IN SAN PEDRO<br />
Ref PH22648<br />
1.325.000€<br />
4<br />
BEDS<br />
2,5<br />
BATHS<br />
145<br />
m 2 BUILT<br />
111<br />
m 2 TERRACE<br />
80 CONTACT US
NEW FRONTLINE<br />
GOLF VILLA<br />
LOCATED IN<br />
EL CAMPANARIO<br />
Ref V8759<br />
1.3<strong>49</strong>.000€<br />
4<br />
BEDS<br />
4<br />
BATHS<br />
306<br />
m 2 BUILT<br />
200<br />
m 2 TERRACE<br />
550<br />
m 2 PLOT<br />
CONTACT US 81
FABULOUS<br />
SUPER DELUXE<br />
TOWNHOUSE IN<br />
SIERRA BLANCA<br />
Ref V1506<br />
1.450.000€<br />
4<br />
BEDS<br />
3<br />
BATHS<br />
474<br />
m 2 BUILT<br />
300<br />
m 2 PLOT<br />
82 CONTACT US
FRONT<br />
LINE GOLF<br />
VILLA IN<br />
EL PARAISO<br />
Ref V9002<br />
1.<strong>49</strong>5.000€<br />
4<br />
BEDS<br />
3,5<br />
BATHS<br />
400<br />
m 2 BUILT<br />
1.076<br />
m 2 PLOT<br />
84 CONTACT US
LUXURY<br />
BEACHFRONT<br />
PENTHOUSE<br />
IN ESTEPONA<br />
Ref PH22548<br />
1.690.000€<br />
3<br />
BEDS<br />
2<br />
BATHS<br />
126<br />
m 2 BUILT<br />
199<br />
m 2 TERRACE<br />
CONTACT US 85
CHARMING<br />
VILLA<br />
IN CENTER<br />
OF MARBELLA<br />
Ref V66001<br />
1.985.000€<br />
5<br />
BEDS<br />
4<br />
BATHS<br />
547<br />
m 2 BUILT<br />
811<br />
m 2 TERRACE<br />
86 CONTACT US
ONE OF THE PREMIUM<br />
GATED AND SECURE<br />
URBANISATIONS IN<br />
NUEVA ANDALUCIA<br />
Ref PH1275<br />
2.295.000€<br />
4<br />
BEDS<br />
4<br />
BATHS<br />
312<br />
m 2 BUILT<br />
211<br />
m 2 TERRACE<br />
CONTACT US 87
ONE OF THE<br />
MOST GORGEOUS<br />
VILLAS IN MIJAS<br />
LA SIERREZUELA<br />
Ref V24001<br />
2.500.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
6<br />
BEDS<br />
7<br />
BATHS<br />
470<br />
m 2 BUILT<br />
2.000<br />
m 2 PLOT<br />
88 CONTACT US
CONTACT US 89
ELEGANT<br />
FRONT LINE<br />
GOLF VILLA IN<br />
NUEVA ANDALUCIA<br />
Ref V30234<br />
2.<strong>49</strong>5.000€<br />
6<br />
BEDS<br />
5<br />
BATHS<br />
579<br />
m 2 BUILT<br />
1.175m 2<br />
PLOT<br />
90 CONTACT US
CONTEMPORARY<br />
VILLA<br />
WITH SEA VIEWS<br />
IN MARBELLA<br />
Ref V<strong>49</strong>70<br />
2.695.000€<br />
4<br />
BEDS<br />
3,5<br />
BATHS<br />
<strong>49</strong>4<br />
m 2 BUILT<br />
950<br />
m 2 PLOT<br />
CONTACT US 91
LARGE VILLA<br />
IN ONE OF THE<br />
BEST LOCATIONS<br />
IN MARBELLA<br />
Ref V1500<br />
2.995.000€<br />
5<br />
BEDS<br />
5<br />
BATHS<br />
471<br />
m 2 BUILT<br />
170<br />
m 2 TERRACE<br />
2.132<br />
m 2 PLOT<br />
92 CONTACT US
MODERN BALI STYLE<br />
VILLA LOCATED<br />
LAS BRISAS,<br />
NUEVA ANDALUCIA<br />
Ref V8836<br />
3.650.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
6<br />
BEDS<br />
3+2<br />
BATHS<br />
647<br />
m 2 BUILT<br />
100<br />
m 2 TERRACE<br />
1.643<br />
m 2 PLOT<br />
CONTACT US 93
SIX BEDROOM<br />
FAMILY VILLA IN<br />
SIERRA BLANCA<br />
MARBELLA<br />
Ref V1446<br />
3.500.000€<br />
CLICK HERE<br />
virtual tours<br />
360<br />
6<br />
BEDS<br />
6<br />
BATHS<br />
537<br />
m 2 BUILT<br />
1.187<br />
m 2 PLOT<br />
94 CONTACT US
CONTACT US 95
LA ZAGALETA<br />
VILLA<br />
COMPETITIVELY<br />
PRICED<br />
Ref V1309<br />
3.950.000€<br />
5<br />
BEDS<br />
5<br />
BATHS<br />
1.390<br />
m 2 BUILT<br />
4.975<br />
m 2 PLOT<br />
96 CONTACT US
CONTACT US 97
LUXURY VILLA<br />
WITH SPECTACULAR<br />
VIEWS IN<br />
LOS FLAMINGOS<br />
Ref V30244<br />
5.450.000€<br />
6<br />
BEDS<br />
6<br />
BATHS<br />
770<br />
m 2 BUILT<br />
1.571<br />
m 2 PLOT<br />
98 CONTACT US
ELEGANT<br />
LUXURY VILLA<br />
IN LOS FLAMINGOS<br />
VILLA PADIERNA<br />
Ref V22928<br />
5.900.000€<br />
6<br />
BEDS<br />
5<br />
BATHS<br />
974<br />
m 2 BUILT<br />
94<br />
m 2 TERRACE<br />
2.169<br />
m 2 PLOT<br />
CONTACT US 99
The economic crisis resulting from the pandemic has led<br />
to a significant contraction in the demand for housing—<br />
a contraction that has been much more pronounced in<br />
the second-hand market than in new-build.<br />
We have observed a trend among home buyers away from<br />
second-hand housing towards new-build, driven by the<br />
payment facilities available in this latter segment. Home<br />
buyers who buy off-plan are able to structure the purchase<br />
more advantageously and can benefit from the financing<br />
associated with developer loans. Buying off-plan also gives<br />
buyers more time to arrange the sale of their current<br />
home, probably in less stressful financial circumstances.<br />
We believe this to be the reason for the significant increase<br />
in off-plan sales of new-build properties, together with the<br />
pent-up demand generated during the lockdown.<br />
We thus expect housing transactions to decline by<br />
between 20% and 25% in 2021 compared to 2019,<br />
mainly due to a decrease in sales of second-hand<br />
properties and a drastic decline in sales of homes to<br />
foreigners.<br />
We also anticipate a decrease of 30-35% in new housing<br />
starts in 2021 compared to 2019, due to the dual effect<br />
of a contraction in solvent demand and tighter restrictions<br />
on the financing of new residential developments. This<br />
effect will be strongest in the areas most affected by the<br />
crisis, which are mainly the ones whose economy<br />
depends heavily on hospitality and tourism, as well as the<br />
ones most dependent on foreign buyers.
A key factor in the behaviour of the residential<br />
developer sector will be the availability of new<br />
bank financing. In principle, we expect to see<br />
severe restrictions on availability and also on the<br />
affordability of financing, with a rise in the cost<br />
of finance and clauses giving banks more leeway<br />
when allocating the loan amount among units<br />
sold. The restrictions on real estate financing<br />
could be accentuated by financial sector<br />
concentration resulting from bank mergers.<br />
Lastly, we have observed high demand for<br />
residential developments on the outskirts of<br />
cities, especially singlefamily homes, probably in<br />
reaction to the trials Spanish households have<br />
had to endure when confined to small housing<br />
units during lockdown.<br />
Housing transactions could decline by<br />
up to 25% in 2021 vs 2019<br />
PRICE TRENDS<br />
The prices of second-hand and new-build<br />
homes will behave very differently.<br />
The main reason for the difference in behaviour<br />
is the anticipated increase in pressure on some<br />
households and individuals when selling their<br />
homes, compared to developers. In the<br />
economic circumstances awaiting us over the<br />
next few months, homeowners with small<br />
businesses and those employed in the sectors<br />
most affected by the current crisis (mainly<br />
hospitality and tourism) will come under<br />
considerable financial strain. It seems<br />
reasonable to assume, therefore, that such<br />
owners will be under greater pressure to sell<br />
their homes quickly, which will push down<br />
selling prices.<br />
We have been monitoring the asking prices of<br />
second-hand homes in Spain that have been<br />
on the market since the second half of March,<br />
i.e. since the start of the pandemic, compared<br />
to the asking prices of similar homes before<br />
the pandemic. It turns out that prices dropped<br />
sharply, by between 5% and 15%, in almost<br />
all Spanish cities, especially in tourist areas.<br />
After the initial drop, there were no further<br />
price decreases until September, when the<br />
supply increased very significantly.<br />
In the rental market, on the other hand, which is<br />
much more elastic, prices have adjusted very<br />
quickly to the new market conditions.
THE FINANCING CHALLENGE IN THE<br />
NEW SCENARIO<br />
Commercial banks face a complex challenge in<br />
managing the impact of this crisis, which will mainly<br />
affect arrears on consumer loans and loans to small and<br />
medium-sized businesses.<br />
The crisis comes at a time when banks are already<br />
struggling to meet the higher capital requirements<br />
imposed by the European Central Bank (ECB) and<br />
margins have dwindled as a result of the drop in interest<br />
rates.<br />
In this perfect storm, banks are cutting back significantly<br />
on lending for new residential construction and real<br />
estate projects of all kinds. The upshot is that banks’<br />
mortgage business will be concentrated in their best<br />
customers and the markets least affected by the crisis.<br />
We expect to see stricter pre-sales requirements, which<br />
for many developers will become an insuperable barrier,<br />
and changes to mortgage agreements to allow financial<br />
institutions to allocate the loan amount to the properties<br />
sold in the way that is most to their advantage.<br />
At the same time, the number of funds entering the<br />
alternative financing business is increasing, although,<br />
because of their minimum finance amounts and profile,<br />
these funds tend to focus more on the financing of<br />
commercial assets than residential developments.<br />
THE DEVELOPER SECTOR<br />
New build housing developers tend to have bought the<br />
land with their own funds and seek financing only for<br />
the construction phase of their developments.<br />
Banks have always required a high percentage of presales<br />
before they will grant financing for such<br />
developments. The greatest risk for developers at the<br />
start of the pandemic was that their customers would<br />
withdraw from their purchases, especially in the last few<br />
months before delivery. This risk has not materialised<br />
and practically all residential developers are delivering<br />
their completed homes without problems. There was<br />
also a risk that the banks financing the developments<br />
would refuse to allow buyers to take over the<br />
developers’ mortgage loans (subrogation) if the buyers’<br />
creditworthiness was in doubt as a result of lay-offs<br />
under workforce adjustment plans (ERE); or that the<br />
valuations performed by independent valuers would fall<br />
significantly, to the point where the banks would no<br />
longer allow subrogation.<br />
In the end, these risks have not materialised, so the<br />
developer sector is continuing to deliver its sold homes<br />
without any difficulties, while significantly increasing its<br />
levels of cash.<br />
For all these reasons, coupled with the migration of<br />
secondhand home buyers towards new-build, residential<br />
property developers are not under any financial pressure<br />
that might persuade them to lower prices.<br />
In our view, the biggest constraint on the development<br />
of new-build housing will be the restrictions on the<br />
financing of new projects and the greater caution<br />
exercised by residential developers in starting<br />
developments they have been ready to launch on the<br />
market.<br />
As the market self-regulates, we expect to see a 30-35%<br />
decrease in housing starts in 2021 compared to 2019,<br />
which will take production back to the levels seen four<br />
or more years ago, i.e., around 65,000 to 70,000 homes.
DELAY IN<br />
DEVELOPMENT<br />
LAUNCHES<br />
HOUSING<br />
PRODUCTION: BACK<br />
TO THE PAST<br />
TIGHTER<br />
FINANCING<br />
CONDITIONS<br />
DEVELOPERS AND THE NEW<br />
SITUATION<br />
As already mentioned, developers will postpone the<br />
launch even of developments for which they already<br />
have permits and will be much more cautious about<br />
starting the marketing phase.<br />
We also expect the financing conditions for developers<br />
to be tightened, not only as regards the required levels<br />
of pre-sales but, more importantly, through greater<br />
flexibility for banks to allocate the loan amount among<br />
units sold and the rest of the units in the development.<br />
For some developments these tighter conditions may<br />
adversely affect business plans if the market performs<br />
below expectations.<br />
Note that this bank financing trend reflects Spanish<br />
banks’ expectations regarding future sales of new<br />
developments and the likelihood of difficulties in<br />
selling all the new-build units over the next few years.<br />
OTHER PLAYERS - COOPERATIVES<br />
AND JOINT OWNERSHIPS<br />
The scope for cooperatives and joint ownerships<br />
has expanded in the crisis, as the competition<br />
among developers for land has weakened. The<br />
possibility of taking an option on a plot of land and,<br />
over time, setting up a cooperative with sufficient<br />
members to meet the targets for bank financing has<br />
thus re-emerged.<br />
Joint ownership can also be an attractive option for<br />
housing development, though to a lesser extent and<br />
mainly for luxury housing, at below market prices.<br />
Copyright © 2020 Colliers International Spain. All rights reserved.<br />
This document has been prepared by Colliers International for general information only. The information in this document comes from reputable public real estate<br />
sources and portals. That information has not been verified. Colliers International makes no warranty of any kind, express or implied, with respect to the information<br />
in this document, including, without limitation, any warranty as to content, accuracy or reliability. Interested parties must make their own inquiries as to the accuracy<br />
of the information. Colliers International accepts no responsibility for any inferred or implied terms, conditions or warranties arising hereunder and disclaims all<br />
responsibility for any loss or damage arising therefrom. This document is copyrighted by Colliers International.
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