Recovery possible on money paid on off-plan properties in Spain

Recovery possible on money paid on off-plan properties in Spain

The Supreme Court of Spain passed a landmark judgment that offers closure to nearly 100,000 British people who wished to own a place in Spain but ended up badly.

With this judgment, people who have paid a deposit for purchasing an off-plan property or have paid in stages but lost money due to the prevailing financial crisis in Spain will now be able to recover the money.

Costa Del Sol Property Groups lawyer have the

fastest root to claiming lost off plan deposits back.

Prospective buyers had paid deposits to the tune of £40,000 on an average and suddenly realized that their money had washed away owing to the financial crisis.

However, with this judgment from the Spanish Supreme Court, banks will be held responsible for the missing money and the Brits can sue the bank to a tune of up to £4 billion for their off-plan lost deposits refunds, as per the findings of Costa Del Sol Property Group of Spain.

Although there is no official information available yet, Costa Del Sol Property Group estimates that refunds up to £15 billion might have to be shelled out by banks to off-plan buyers from all over Europe towards their lost deposits from the financial crisis.

Some of the victims include Malcom and Maxine Ball , who had paid £100,000 for their prospective off-plan property in Costa del Sol. As per their off-plan purchase, they paid £100,000 as 50% of the total price which included additional charges and other deposits.

Brits own the maximum number of properties in Spain after the locals and hence, UK citizens were affected the most due to the sudden property crash witnessed in Spain.

With their unchallenged experience in this aspect, Costa Del Sol Property Group has formed a dedicated team for foreign nationals to help and gain their money back without any fees or irrespective if they English or not.

Missing €14k Parrot Found in Marbella Nightclub

 Missing €14k Parrot Found in Marbella Nightclub

When you take a look at the news you can tell that there’s something missing. This thing is so important that we’re not sure where to go from here without it.

Exotic Parrot that's used to humans turns up in a

Nightclub in Marbella.

With all the real news happening around the world we’ve kind of seen an end to the regular silly summer stories that show up on the front pages. There are still some cracking stories out there including crocodiles in London, and the frankly comically bad performance of the English football team.

Now the Costa del Sol is getting in on the silly summer season stories with news out of the region about a missing exotic bird showing up safe and sound in a Marbella nightclub.

The Olive Press Newspaper ran a story about Soly, the Hyacinth Macaw pet estimated to be worth around €14,000, who disappeared from his cage in the home of Richard Breuer, 40 year old property developer.

Breuer quickly put out plenty of missing posters and even called the police before he was contacted by the owner of the Olivia Valére nightclub in Marbella. The owner of the club, also called Olivia Valére, told Breuer that Soly had turned up at the nightclub.

Breuer recounted how Soly was a changed bird after being exposed to the nightclub and how it took him a few days to adjust back to home life.

It turns out that Soly is a lover of the ladies, which may go some way to explaining why he went to the nightclub. He quickly found his way into the lap of one of the barmaids working behind the bar, who then told Valére about their feathered visitor. Valére took him to her private aviary before being told about the missing posters and calling Richard to reunite man and bird.

Breuer believes he is lucky that Soly was found, saying that if someone else found him they may have tried to sell him.

This story lets us know that, not only do things usually have a happy ending, but the summer silly season is setting in.

Brits Demand Exapts in Spain Be Given Dual Citizenship

Brits Demand Exapts in Spain Be Given Dual Citizenship

Its makes sense for Spain to allow Brits 

Dual citizenship.  

There is a petition calling for the Spanish government to give British expats who have been in Spain for over ten years dual nationality. The petition asks that the Spanish government perform an act of generosity for expats following the situation they have found themselves in after the UK voted to leave the EU. The petition goes on to say that many expats, both from Spain and the UK, are uncertain about their future and becoming desperate.

The petition was started by journalist and author Giles Tremlett, who has written for both the Guardian and the Economist. He gave an interview with The Local where he said that he started the petition because of what dual citizenship would mean to him personally and the practical benefits.

Tremlett said that after living in Spain for as long as he has he now has a dual identity. Tremlett is currently based in Madrid and has residency and lived in Spain for over 25 years. Because of this he was unable to vote in the referendum as there was a 15 year limit. He feels that he has been stripped of his European citizenship without being able to have his own say in the matter.

The petition follows the words of the German Vice Chancellor, who said that Germany should offer dual citizenship and urged other countries in the EU to do so as well. The Brexit vote has left many of the roughly 400,000 British expat wondering what will come next for them. Many of them are also worried about what will happen to their pensions and their right to buy property. Acting Prime Minister Rajoy has assured Brits living in Spain that they won’t wake up to find their rights stripped from them.

Tremett is one of the people who is deeply concerned about his pension following the Brexit vote. He has worked in both Spain and the UK and is now unsure what would happen to his pension if he was to move back to the UK to take care of his parents before returning to Spain.

He also made the argument that Spaniards living in Britain can apply for dual citizenship after five years but no such option exists for the Brits in Spain. Dual nationality doesn’t exist in Spain and to become a Spanish citizen one would have to renounce their original nationality. Tremlett is concerned that his sons, born in Spain but British nationals, do not have the right to denounce their nationality.

The petition also argues that there is a precedent for this kind of legislative change allowing double citizenship. Just last year Acting Prime Minister Rajoy granted dual citizenship to the ancestors of Jewish people who were forced out of Spain as part of the Spanish Inquisition of 1942.

Tremlett believes that dual citizenship would solve some of the problems that Brits in Spain are having, but admitted it wouldn’t solve all of them. He says that Britain was a part of the EU for 40 years, while Spain has been for 30 years now. This is more than long enough for people to buy property in Spain and build an entire life and future around being a European citizen. He feels that to have all of that suddenly stripped away is dramatic and traumatic.

Mayor of Manilva, Diego Jose Jimenez asks foreign residents not to panic

Mayor of Manilva, Diego Jose Jimenez asks foreign residents not to panic

The Council of Manilva recently reassured foreign nationals and residents living in Costa del sol, and asked them not to panic. The Mayor of Manilva, Diego Jose Jiminez along with the councilor Dean Tyler Shelton recently made this public statement after Brexit, as the citizens were tensed and had no clarity about the legality.

No reason to be worried as Spain needs Brits more than ever

As per their statement, they said that they want to send across a clear message to the citizens of Britain and home owners who are presently residing in Manilva that they are most welcome to continue staying in Manilva and there is nothing to worry about. Manilva is only a small town located on the western edge of Costa del Sol region, which is in the South of Spain and they said that they have a deep gratitude for the economic, cultural and social contribution of Brits to the region. They also said that there will not be any difference in their opinion or stand due to Brexit referendum and everything will remain the same.

As of now, there are nearly three thousand Brits registered and residing in Manilva and Sabinillas permanently and they have invested millions in different ways, thereby benefiting the businesses and towns of the region as they pay taxes and work for the betterment of local residents as well.

They reassured that it is now their responsibility to make sure that the process is painless for them and the changes do not affect the foreign expats in any possible way. We will also help you to heal the divisions that have arisen among families and neighbors due to the campaign, they said during the statement.

They also finished their statement by quoting the popular quote. “It is time to focus on what unites us, rather than that which divides us’.

Michelle Obama Uses Madrid Trip to Promote Girls Education

Michelle Obama Uses Madrid Trip to Promote Girls Education.

Michelle Obama, First Lady of the USA, took a trip to Madrid recently to discuss the girls education as part of her “Let Girls Learn” initiative.

Her daughters Malia and Sasha made the trip with Michelle, along with her mother Marian Robinson. They came into Madrid from Morocco as they are on a three-leg tour of the area.

The First Lady gave a speech in Madrid where she talked about how proud she was that the USA is on the verge of electing their first ever female president, and took the chance to encourage the Spanish girls in the crowd to embrace all the educational opportunities presented to them and reach as far as they could.

Michelle said that she was proud that the US could elect their first female president in reference to Senator Hilary Clinton, the current forerunner for Democratic nominee for president. Clinton is likely to face Republican nominee Donald Trump in the fight for the White House.

Michelle began her “Let Girls Learn” School initiative in March of 2015. The focus of the initiative is to provide a quality education to girls around the world. Michelle spoke of her sadness that over 62 million girls would be unable to reach their potential because they are blocked from accessing an education.

She encouraged listeners to imagine how it must feel to be ready and willing to get an education only to be told that you can’t learn anything else because you are a girl. These girls will be unable to live their dreams and will instead be forced to marry a man twice their age and start a family.

Michelle also took time to meet with Queen Letizia, who she describes as a dear friend. The younger Obama girls took a shopping trip around Gran Via while their mother gave her address.

President Barack Obama himself is due to visit Spain  for a three-day long official visit.

Spanish Property Expert Believes Brexit may Affect British Demand for Spanish Property

Spanish Property Expert Believes Brexit may Affect British Demand for Spanish Property

The effects of Brexit are still unknown but could effect prices

It’s been suggested that the weakened pound and the general uncertainty following the British exit from the European Union is likely to undermine the British demand for Spanish properties.

This could be quite concerning given the strong British demand since 2013. Mark Stucklin of Spanish Property Insight is even suggesting that this trend could now go in the opposite direction.

Mr Stucklin believes that the negative impact will mostly hit the areas with a high British demand such as Alicante and Malaga, along with the Balearics, the Canaries, and Murcia. He says that the Brexit vote will mean that there are just less British buyers overall.

One of the reasons that British demand for Spanish property is driven by how well the pound is performing. When the pound goes up against the euro then British demand rises within two quarters. The pound has been wakened following the Brexit however so it’s almost assured that the demand will be reduced as a result.

Stucklin suggested that this drop in demand won’t just come from British vendors either. He believes demand will be down overall and that experts may need to re-evaluate their price expectations.

He also believes that less Brits will move to Spain until deals are made and this will take two years at the least. British expats in Spain are now unsure where things are going to end up right now. It could take years for all the dust to settle and it’s likely more expats will head back home rather than come into Spain.

One group of people who should be unaffected are British people with Spanish holiday homes who don’t plan on selling them. The biggest worry for them is how the UK will look when everything is over.

The latest figures from the Notaires registrar do confirm that a strong pound and Spanish property prices were behind the rise in British demand last year. Property buyers from the UK made up the largest group of buyers with 21% of foreign buyers coming from Britain; a rise of 42% over the previous year.

The British are truly the major players in the foreign buyer market in areas like Alicante on the Costa Blanca and Malaga on the Costa del Sol.

At the same time it’s also true that Spanish property prices will likely go down following the fall of the pound. It means that the exchange market is easier on those changing their pounds into euros. It’s still true that British pensioners looking to move to Spain will find themselves with less money now though.