Andalusia Archives

Christmas in Jimena

November 28, 2018 Short Term Lets

Spend Christmas in the beautiful white village of Jimena de la Frontera.

Available Now

2 bedroomed 1 bath village house with patio and astounding views. This fully furnished property is available until end of January. 2 double rooms and a sitting room. Sleeps up to 6. Nestled in the heart of Jimena de la Frontera near to tapas bars, amazing restaurants and beautiful walks.

There is something special about Jimena. Located 35 minutes from Gibraltar airport and with Malaga and Jerez airports also viable options. Here is a glimpse of what’s on offer:

Things to Do

Jimena offers a wide variety of activities from country walks to Christmas choir to sampling the wines and culinary fayre of the area.

This zone forms part of the migratory routes for birds flying between Africa and Europe and is also a permanent habitat for birds of prey. There is a nesting pair of boooted eagles that regularly fly past the windows. Really something. Find out more about the local birds here.

Jimena Castle

The village has a historic castle that stems back to Moorish times. There is also evidence that it was an important site during Roman times too.

Wildlife Zoo and Aviary

On its doorstep is a wildlife protection reserve which receives wildlife that has been imported/exported illegally. The zoo tries to protect and offer as normal a habitat as possible to the animals that live here. Well worth a visit.

Holiday Accommodation

Contact us now to find out more about this short term let, 75€ per night minimum of 5 nights. If you wish to rent this for the entire period, get in touch to discuss a special price.

Great opportunity to celebrate this season of good cheer in a wonderful property complete with wood burner and wooden beamed ceilings. Oh, and the views are second to none. Really, what are you waiting for?

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Property Sales Registered July 2018

September 19, 2018 Buying Property in Spain Property Sales Andalusia

Property Sales Nationwide Buoyant

The national statistics for all of Spain are again positive news for the ongoing recovery of the property market. In July, 169,683 properties were registered at land registry, 14.5% up on the same month of 2017.

Of these the number of property conveyances was 89,092, which is an annual increase of 13.5%.

Sales registered at Land Registry

The breakdown of rural and urban properties shows a high percentage of urban property sales in July of 87.8% and 12.2% for rustic properties. Among urban properties, 58.7% were housing sales.
In July, the number of rustic property sales was up by 8.3% year on year, while that of urban properties rose by 14.3%. This was an annual increase of 16.2% for urban property.

Council Owned and Private Property

In July, 90.5% of the dwellings transferred by sale were free-market dwellings and 9.5% had protected affordable housing status. In annual terms, both the number of free-market dwellings transferred by sale and that of protected dwellings increased by 16.2%.

New and Resale Properties

In July, 16.9% of the dwellings transferred by sale were new and 83.1% were used. The number of transactions on new dwellings increased by 11.4%, while that on used
dwellings increased 17.2% as compared with July 2017.

Figures for Andalusia July 2018

There were 27,743 property transfers recorded in the land registries for July 2018 and of these, 8,730 were free market sales. In percentages, this shows an increase year on year of 20.4%. This equates in Andalusia to 132 transfers per 100.000 inhabitants for sales. And 421 per 100,000 for transfer of title as a result of inheritance, free market sales, and other changes in property title. Andalusia came just a little above the national average, significantly below Aragón (32%) but only 6 – 7 percentage points lower than the next top performers Galicia (28.6%) and Castilla–La Mancha (27.1%).

The figures for June 2018 are available here:

Source INE

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Land Registry Figures Spain June 2018

August 14, 2018 Property News Property Sales Andalusia

June 2018 Property Transfers Spain

Nationwide, in June 2018, there were 172,265 properties registered at the land registries in Spain, that is 3.6% up on the same month last year. Of these, residential property sales were up by 1.8%

As we are based in Andalusia, our focus is on this autonomous region. Naturally, the figures taken from the INE are there for all to see and extrapolate as they wish for all areas of Spain.

The graphs below show a combination of rustic and urban properties, (STPR1), then a break down of only rustic, (STPR2), only urban, (STPR 3), and finally the figures for residential property, (STPR 4).

Property Transactions June 2018 Andalusia

As we can see, in June 2018 in Andalusia, of the 30,356 property transactions, more than three times as many were in the urban sector compared to rural. Andalusia recorded the highest figures for urban plots of land transferred with 1,624. This compares with Cataluña in second place showing 1,366 transfers of land. In third place, with 624, lies Castilla & León – a long way behind, relatively speaking. In Andalusia this rush for buildable plots coincides with the hunt by constructors and promotors of new off plan projects – such as The Pier. This is a new off plan development in Sotogrande Port by a famous UK company with a stalwart reputation. Nationwide, 18.2% of properties sold were new builds – a clear indicator of the confidence returning to this sector.

Rustic Property Conveyances Andalusia

The number of rustic properties transferred to new owners reached 4,650 in Andalusia. For the second consecutive month there was a high acceptance of inherited property in Andalusia. As commented last month, this will be heavily influenced by the relaxed rules on taxation of inheritances when between close blood relations. Per stirpes succession laws operate for intestate estates in Andalusia and throughout Spain. So, 1,727 inherited rustic properties were claimed and this amounts to almost 40% of the total for Andalusia. This compares with 1,850 sold on the open market which is a healthy balance to guarantee a fluid property market. The nationwide figures for sales of rustic properties were around 35% so sales for Andalusia were above average. This is not hard to understand when we see properties such as this, with a quarter hectare, 2 beds 1 bath on sale for only 190,000€ There is real value to be had there.

Urban Residential and Commercial Andalusia

Looking now at urban properties, it is clear that this pattern repeats itself with healthy property market sales. More than half of the property transmissions, residential and commercial, were on the open market with 14,745 out of a total of 25,706 in Andalusia. There is healthy interest in investment opportunities such as land and property to convert to rest homes. This offering here would be ideal.

Residential Sector Sales June 2018 Andalusia

Finally, focusing on the residential sector in Andalusia for June 2018 compared to the same month year on year. 9,165 properties were bought and sold at arms-length trading on the open market. This accounts for almost 60% of all activity and inheritances amount to around 17% There is growing interest in properties that require moderate reforms especially where they are well located in the centre of popular villages. For example this one in Jimena de la Frontera

With savings in bank accounts still not yielding investment income, it seems for those that have the ability to buy Spanish property, now would be a great time to do so.

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Holiday Makers Spain & Andalusia June 2018

July 31, 2018 Buying Property in Spain Property News Short Term Lets

Non Hotel Tourist Accommodation in Spain

These statistics show the supply and demand for holiday accommodation in June 2018 both nationwide and in Andalusia. More than 12.2 million overnight stays are great news for property owners interested in short term lets. This is slightly down on last year, but still shows strong demand.

Broad Stroke Figures Nationwide

The national statistics for overnight stays in non-hotel tourist accommodation are down by 3.8% in June compared to the same month of 2017. Yet, even so, numbers exceeded 12.2 million in June 2018
Figures may be marginally lower for several reasons including staff strikes at airlines and the heat wave which is affecting many countries this year.

Tourist apartments

Overnight stays in tourist apartments decreased by 8.1% in June. Those of residents decreased by 5.2% and those of non-residents by 9.0%. The average stay was reduced by 4.8% compared to June 2017, standing at 5.3 overnight stays per traveler. In June, 37.9% of the places offered by the tourist apartments were occupied, 7.1% less than in the same month of 2017. The occupancy rate by beds on weekends stood at 41.2% , with a decrease of 5.8%.

Touristic Apartments – INE Spain and Andalusia

Resident and Non Resident Overnight Stays

These figures are further broken down into Resident and Non resident occupancy of accommodation.

Overnight stays of residents decreased by 0.3 % and non-residents 6.0%. The average stay is 4.3 overnight stays per traveler. During the first quarter of 2018, overnight stays decreased by 2.9% with respect to the same period in the previous year.

Visitors to Andalusia – both Residents in Spain and Non Residents in Spain showed healthy figures in June 2018, up year on year to those of 2017. 2018 has been a success for many owners who offer short term lets.

It goes without saying that our advice when buying a property is to also take into account the short term holiday market and depending on where you buy your investment property, also consider the business community who make overnight stays for business purposes.

Rural Tourism Inland Andalusia

Statistically, the Spanish National Statistics Institute looks at 2 categories that affect ordinary small investors: Tourist Accommodation which is coastal usually – for example Sotogrande, and the rural sector, such as Jimena de la Frontera.

Tourist Accommodation June 2018 — June 2018 Spain

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Land Registry Busy May 2018

July 11, 2018 Property News

Transfer of Property Rights (STPR) May 2018

183,748 property transfers recorded in May 2018
Up almost 10% year on year compared to May 2017
Sales of Residential Properties up almost 5% May 2018 compared to May 2017

Spain Official Figures May 2018

These are the official figures released by the Spanish National Statistics Office with reference to the Property Market in Spain. Sales nationwide account for 93,366.

Less Properties Sold May 2018

The property boom has settled down with many of the bargains now snapped up. Traditionally May is a popular month for buying and selling of properties so these figures are indicative of a slowly re-emerging market where the distressed sales are now dissipating. There are still bargains to be had, but fewer than the same time last year. These figures reflect that reality.

Andalusia Figures May 2018

In Andalusia in May 2018, a total of 32,761 property titles changed hands. This shows an increase of almost 20% which is double the national average. It is important to note that not all of these were property sales. Conveyance sales also showed an increase year on year in Andalusia of almost 5% with 47,177 properties acquired by notarised title deeds.

Rustic and Urban Sales May 2018 Andalusia

As can be seen from the tables below, 5,261 rustic residences changed hands as well as 17,104 urban homes in the autonomous community of Andalusia. Of these, 2,145 rural properties were bought and sold compared to 14,925 urban dwellings.

Beneficiaries Claim Properties Inherited in Andalusia

the Inheritance Laws changed in Andalusia with more generous allowances based on personal income. this could well account for the higher than habitual number of beneficiaries claiming their inheritance. In previous years it has not always been worthwhile paying the taxes levied against the bequeathed property. Roughly 25% of the conveyances have been bequests compared to purchases.

In summary, sales of properties in Andalusia are continuing at a relaxed pace and have fallen off slightly from the same time last year as a probable result of bargain properties being scooped up. there are still bargains out there, especially in rural areas where properties with minor reforms required could yield great deals in the short to medium term.

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Property Taxes in Andalusia when Buying a Property

September 24, 2017 Real Estate

Property Taxes when Buying a Property in Andalusia

Buying a property in Spain is a straight-forward process. Each autonomous region has the right to set its own taxes, so differences do exist, although small. We help people buy and sell properties in Andalusia, in the provinces of Málaga and Cádiz. So, we provide information from the Junta de Andalucia’s website regarding the taxes levied on purchase and you can find general information on taxes levied on the Seller by the Town Hall, here. On the whole, budget about 13 – 15% on top of property purchase price for attendant costs. (Buying at auction has different requirements, find more here.)

Tax Payable – New Properties

First Transmissions of properties attract 10% tax plus a stamp duty on the drafting of the first title deed which is 1.5%. Total is 11.5%

Tax Payable – Resale Properties

For most people you pay 8% up to the first 400,000€, 9% on next 300,000€ and 10% on all amounts accruing after that.

The amount owing is calculated by multiplying the relevant band with the applicable coefficient as follows:

Transfer of Tangible Assets

a) Property Transfer:

As a general rule, in the transfer of immovable property, as well as in the constitution and assignment of rights in rem over them, except in the real rights of guarantee, the tax rate will be obtained by applying, on the basis of the liquidation, the rate that results from the following rate:

Band payable in Euros	Total Fees Euros	Amount Due Euros	Rate Applicable
0.00	0.00	400,000.00	8.00%
400,000.01	32,000.00	300,000.00	9.00%
700,000.01	59,000.00	There after	10.0%

Garages attached to the Property Purchase are included in the rates above, with a maximum of two. After which, in the case of transmission of buildings classified as urban parking space, the following rates apply:

Band payable in Euros	Total Fees Euros	Amount Due Euros	Rate Applicable
0.00	0.00	30,000.00	8.00%
30,000.01	2,400.00	20,000.00	9.00%
50,000.01	4,200.00	There after	10.0%

b) Transmission of movable property and livestock

(as well as the constitution of real rights over them other than the guarantee):

4 %, in general
8%, on the transfer of boats of more than 8 metres in length and on vehicles of more than 15 horse power and objects of art and historical antiquities.
5% in the transmission of real estate where the real value does not exceed 130,000 euros and it is to be the Buyer’s permanent residence and the buyer is under 35 years of age, or 180,000 euros in the case of a permanent residence where the Buyer suffers from a disability which is registered and measured as being equal to or greater than 33%.
2% in the acquisition of housing for resale by a natural or legal person who carries on a business activity to which the rules of adaptation of the General Plan for the Real Estate Sector apply. (Aimed at constructors, developers and banks with repossessions, for example.)
1%, for financial instruments of real security rights, pensions, bonds, loans and cession of credits.
Leases are governed by the scale of tax fixed by Law.

* With effect from January 1, 2015, tax rate offsets will be applied in the creation and exercise of purchase options in lease agreements related to certain payment operations.

Budget 13 – 15% on top of Property Purchase Price

In addition to the taxes there is also the need to pay stamp duty for new builds on the pages notarised for the Title Deeds, as well as general application of Notary’s fees, Land Registry fees and Lawyer’s / legal assessor’s fees (Gestor). These days, most mortgage set-up costs are assumed by the lender. As a rough rule of thumb, allow 13% – 15% on top of the Purchase Price and note stamp duty for new builds.

Disclaimer: TMT Spain Real Estate has provided this information as a general guide only and it must not be relied upon in place of legal advice. Legislation is constantly updated and the reader must satisfy herself/himself of the accuracy of these contents.

“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”
Maya Angelou

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