Property News

News List

Our news service keeps you informed with the latest property news on the Costa del Sol, and the Spanish property market in general. Our editors update this site regularly from a variety of reliable sources.

Foreign resident with irregular properties to march in Malaga

Foreign property owners in Spain still suffering from irregular planning issues on rustic/rural land will be holding a gathering/march in Malaga on the 17th of March to protest the ongoing issues that are plaguing their properties.
| 11.03.2010 | Read Article |

"Without an Urban Plan Marbella’s recovery would have been impossible

The mayor of Marbella speaks about approval of the town planning document (PGOU) which will end fifteen years of legal uncertainty
| 15.02.2010 | Read Article |

Marbella properties legalised

The new Marbella PGOU Urban Plan was approved on Friday the 29th of January 2010 by COTUA, the Andalucía Territorial Planning Commission. A vast majority of the Marbella properties that had previously been left out of the local town plan have not been fully legalised and many owners after years of stress and worry can now breath a sigh of relieve.
| 02.02.2010 | Read Article |

New build property market shows signs of recovery

According to Pedro Pérez, the general secretary of the G-14 (association of Spanish developers) the sale of newly built property has started a mild recovery, and this position will be consolidated in the coming months.
| 21.11.2009 | Read Article |

Financial boost to Marbella and Costa del Sol

The Andalusian Technology park will expand in a new site in Marbella, Costa del Sol. This project could be a huge financial boost to the western Costa del Sol. Marbella offers the right conditions to attract new investment and we know that there is a demand from technological firms that want to set up there.
| 07.11.2009 | Read Article |

Developer plans flats for senior homosexuals in Torremolinos

The building is to be called Arco Iris (Rainbow) and it will become the first project on the Costa del Sol and Spain that is aimed at LGBT (lesbian, gay, bisexual and transgender) clients. Residents must be over 55 as the development will also act as a care centre. The building will be located in the heart of Torremolinos, a town that in recent years has become a favourite holiday resort for homosexuals. This has given rise to the opening of numerous gay-orientated businesses from clothes shops to bars and restaurants, although nearly always geared towards a younger clientele. The Torremolinos properties will range between 100,000 and 240,000 in price but as yet no date has been set for construction work to start, possibly after next summer.
| 13.10.2009 | Read Article |

Costa del Sol Town Halls bailed out by government

The economic problems have left Town Halls throughout the Costa del Sol struggling for funds. The collapse of the construction industry, a major source of income from licences and planning permissions, has left a considerable gap in budgets. Towns like Benalmadena, Fuengirola, Torremolinos had taken on contracts for public works and other commitments, but with the fall in income the debts began to pile up. To help with the crisis the government relaxed some restrictions and timetables relating to IVA (VAT) and interest repayments and created the “Instituto de Crédíto Oficial†(ICO) to which local authorities could apply for loans to allow them to pay their debts to small and medium sizes businesses and individuals. This lifeline has been taken up by 13 of the 22 largest towns and cities in the province, borrowing a total of 113.2 million euros.
| 21.08.2009 | Read Article |

Aifos directors going to court

Problems for the real estate developer, Aifos, continue this week on the Costa del Sol after they finally filed for bankruptcy protection facing an accumulated debt of 1.029 billion €. Courts in Malaga are now looking at the actions of their directors, and the Penal Court in Málaga has reopened the case against the Company Chairman, Jesús Ruiz Casado and his wife, María Teresa Maldonado, who are accused of fraud for selling property which was not later built. The key thing now is that the penal instead of the civil court is being used, as it is considered that the owners of the company tricked their clients in a pre-meditated way.
| 18.08.2009 | Read Article |

Aifos files for bankruptcy protection on the Costa del Sol

The Costa del Sol based property developer, Aifos, has chosen to file for bankruptcy protection. Sources indicate that Aifos owe more than 1 billion Euro to 2,000 creditors. A statement released on Wednesday by Aifos guarantee the construction of 3,000 homes contracted with clients and fulfilling other outstanding contracts. Aifos is one of the companies implicated in Marbella’s Malaya corruption case.
| 18.08.2009 | Read Article |

Foreign tourist numbers to Andalucia are down 11.5% in the first six months of the year

The number of foreign tourists visiting Andalucía over the first six months of the year, compared to last, was down 11.5%. Despite everything the British remain the largest group out of the all the foreign tourists visiting Spain over the first half of the year followed by the Germans, together making up 48% of the total.
| 18.08.2009 | Read Article |

40,000 properties in Mijas, Marbella and Axarquia to be legalised

The Málaga provincial Government, La Diputación, together with Marbella and Mijas Town Halls, has announced plans to bring 40,000 houses built illegally into legality. The Malaga provincial government is to legalise 40,000 illegally built properties on the Costa del Sol. Many of these properties are currently located in Marbella, with a smaller amount located in Mijas and Axarquia.
| 18.08.2009 | Read Article |

Costa del Sol Chiringuitos to remain!

The chiringuitos (beach restaurant) dispute appears to have finally been settled with the representatives of the Costa del Sol beach bars and the Government having reached an agreement on Monday. There will be no change the chiringuitos' sardine and terrace areas, providing that these do not exceed 100 square metres. Likewise, all the cases against beach bar owners for licence or space irregularities are to be reviewed
| 18.08.2009 | Read Article |

1447 luxury properties to be built in Estepona, Costa del Sol

David Valadez, the Mayor of Estepona, Costa del Sol, and the representative of The Saudi Royal family Fiasal Hikmat Asaly confirmed that 1447 luxury properties are to be built in the area of El Paraiso, Costa del Sol Original approved in June 2008, the agreement was put on hold due to the Astapa case.
| 18.08.2009 | Read Article |

Slowdown on new Costa del Sol motorway

Work on the New AP-46 motorway linking Las Pedrizas to Malaga, which had until recently provided employment for 1000 workers, is currently on hold due to the difficulties faced by one of the companies involved. The Ministry of Development has entered into discussions with Sacyr, the company in question, to help resolve the matter and to help push along this Costa del Sol project that is already 50% complete
| 18.08.2009 | Read Article |

27 blue flags for Costa del Sol beaches

Spanish beaches receive 571 blue flags. An increase of 44 flags compared to 2008. A total of 27 blue flags will be flying on Costa del Sol beaches, Of which six more than last year. Of the 27, 7 will be in Fuengirola, four in Marbella, three in Estepona, two in Benalmádena and Nerja and one each in Algarrobo, Torrox, Malaga (Misericordia), Mijas and Manilva.
| 18.08.2009 | Read Article |

Mortgage lending down in March

Spanish mortgage lending dropped 37.4 percent year on year in March. The decline was substantially slower than the 47.5 percent fall from a year on year earlier in February.
| 18.08.2009 | Read Article |

27 homes in Marbella under scrutiny

The Coastal authority has contacted 27 homes in Marbella requesting documentation proving the legality of gardens, walls, fences, pools and other structures on land which has been legally part of the public domain since the boundaries were determined in the 60s and 70s.
| 20.05.2009 | Read Article |

Project to build new homes and golf courses between Churriana and Torremolinos

The mayor of Malaga defends the Malaga Planning Commissions green light to a scheme to build some 3,000 homes and a golf course in the area known as Rojas-Santa Tecla near the municipal boundary where Churriana borders Torremolinos.
| 30.04.2009 | Read Article |

Malaya Case, Sandra Bismarck indicted

Countess Sandra Bismarck, has been indicted in the ongoing Malaya case in Marbella. Along with Juan Antonio Roca and several lawyers, they are accused on charges of money laundering, influence peddling, bribery, perversion of the course of justice and fraud.
| 27.04.2009 | Read Article |

Squatters leave Golden Hills

According to sources at Mijas Town Hall, after a visit yesterday by Mijas Social Services Department, the gypsy families who had been squatting in the Golden Hills development of 34 empty unfinished flats in Mijas Costa for more than 48 hours have decided to leave of their own accord.
| 16.04.2009 | Read Article |

Squatters claim Mijas properties

Located in Mijas, Golden Hills is a complex of 34 apartments that have been owned by the banks since construction stopped 2 years ago when the builder got into financial problems. Now as a further twist 150 members of several gypsy families have been squatting in the empty, unfinished housing development
| 15.04.2009 | Read Article |

Marbella gives ultimatum

After the recent demolition of 34 properties in Las Chapas, the townhall turns its eyes on the six houses built without a licence by Prosavi on a green zone in Linda Vista Alta in San Pedro.
| 06.04.2009 | Read Article |

European Parliament condemns property planning abuses

The European Parliament has approved the Auken report which highlights the property abuses in Spain. The report singled out Marbella, Cabo de Gata and Valencia for the planning abuses and the current unresolved situation of many of the properties that had been bought in good faith by European citizens.
| 27.03.2009 | Read Article |

Pending court cases for 10 mayors in Malaga

There are currently 10 mayors from the province of Malaga with pending courts cases. These include such figures as Jesús Gil, Marisol Yagüe and Antonio Barrientos. There seems to be no clear criteria for these law breakers as they comes from both left-leaning and right-leaning political parties, large and small towns, and coastal and inland towns.
| 17.03.2009 | Read Article |

Construction firms competing over contracts in Malaga

With the considerable loss of income from the lack of new residential properties being built, many Malaga based construction companies are competing aggressively over the contracts being awarded by the central government of Spain and by the Junta de Andalucia. Many of these projects will not only benefit the economy in the short run, but will have long term economic benefits to private businesses and the public at large.
| 16.03.2009 | Read Article |

Marbella property demolition starts

Seven months after signing the demolition order, the first illegal apartment block, consisting of 34 apartments is being torn down. Located in the Golf Río Real area of Las Chapas, the illegal build is located on land designated as ‘green zone’. The development was built by Naviro Inmobiliaria, who’s owner, José Ãvila Rojas is currently facing charges in the ongoing Malaya corruption case.
| 13.03.2009 | Read Article |

Mayor of Alcaucin sent to jail without bail

Irene Urbón, the judge presiding in Vélez-Málaga, Costa del Sol over the Alcaucín planning corruption case, sent the Mayor of the town, José Manuel Martín Alba and the director of the architecture department at the Malaga Provincial Government, José Mora straight to prison without bail.
| 05.03.2009 | Read Article |

Mayor of Alcaucin kept 160,000 Euro under the mattress

The Guarda Civil found 160,000€ under the mattress of the arrested Socialist Mayor of the Málaga village of Alcaucín. According to the mayor, these were his lifetime savings. The Mayor along with 12 other people were arrested due to a range of abuses including bribery, money laundering, influence peddling, perversion of the course of justice, document falsification, land planning irregularities and fraud.
| 02.03.2009 | Read Article |

Tourism Initiative for eastern Costa del Sol

The Junta de Andalucia has unveiled the aptly name Sustainable Tourism Initiative to help develope the tourism sector on the eastern side of the Costa del Sol in the Axarquía. The region already has the three main ingredients that have made the more westerly end of the Costa del Sol such a tourism hotpot: sun, beaches and beautiful scenery. Luxury hotels and golf course will be a priority along with increasing berths in the marinas
| 15.02.2009 | Read Article |

Marbella Town Hall wants 268 years prison sentence for Saqueo II case

The Town Hall of Marbella, Costa del Sol has requested a total of 268 years in prison for the 33 individuals who have been accused in the Saqueo II case, which is to be heard in the National Court. Ex Mayor Julián Muñoz potentially faces 13 years in prison and a 20 year ban from public office. It has also been requested that the 33 accused be fined 70 million euros.
| 13.02.2009 | Read Article |

Julián Muñoz ordered to pay 50 million euros

The national auditing tribunal has found Julián Muñoz and 2 others guilty of irregularities committed between 1997 and 2000 in the municipality of Marbella on the Costa del Sol. This spectacular fugures reflects the left of theft and damages caused while the ex-mayor of Marbella, Costa del Sol was involved with the firm Contratas 2000 S.L.
| 12.02.2009 | Read Article |

Amendments to E.U. report on town planning abuses thrown out

The report, the latest of 3 criticizes the property abuses seen in Spain with the regional Valencian Government town planning laws criticized in particular.
| 11.02.2009 | Read Article |

Illegal property in Mijas, Costa del Sol should be legalized

According to experts in administrative law, the current illegally built properties in Mijas, Costa del Sol should be legalized, except for those built on protected lands. Similar to the precedent set in Valle de Almanzora in Almería.
| 11.02.2009 | Read Article |

ECB cuts rates to 2.5%

The European Central Bank (ECB) has delivered a record rate cut, lowering the key interest rate for the 15 countries that use the euro from 3.25% to 2.5%. The cost of borrowing was cut for a third consecutive month as the central bank tries to bolster the eurozone's faltering economies. Earlier, the Bank of England reduced interest rates to 2% from 3%.
| 04.12.2008 | Read Article |

Coping with the crisis in andalucia

According to the statistics we are all having economic problems, and that we are finally in economic recession. Of course these times affect different people in different ways, but the one certainty is that it will affect us, rich or poor, retired or working. It hits working people most, and those self-employed who run small businesses that need credit. The question many people are asking themselves is: will I be going to work tomorrow?
| 02.12.2008 | Read Article |

Rustic land investors, mostly British, cheated out of 65 million euros

The anti corruption prosecution service in Malaga has led an operation to break up a network which has allegedly cheated around 200 investors, most of them British and living outside of Spain, out of 65 million euros.
| 28.11.2008 | Read Article |

Round up of Costa del Sol News

Round up of this week's news from Costa del Sol and inland towns and villages covering Nerja all the way to Estepona.
| 28.11.2008 | Read Article |