As it is already well known, since 23rd of July the AIFOS Bankruptcy has initiated a new chapter in this creepy story. The situation was foreseeable as the reputation of this company was well known. Aifos commercialized developments at very competitive prices and had very good marketing strategies. They did not have building licenses, sometimes they were not even owners of the land, and in the majority of the occasions they did not grant the bank guarantees ordered by law nor did they deposit the monies received in a special bank account as established by law. How could they keep this behavior for years should be a matter of a deep and serious study. The financial crisis and the sudden end of the property market boom provoked this predictable end.
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Categories: Costa del Sol property · costa del sol information
Tagged: aifos, aifos bankrupt, aifos bankruptcy, aifos financial, andalucia, bankuptcy, developer, legal advice, southern spain, spain, spanish law
For the many of you that have been to the Costa del Sol recently or are planning to come soon, the constant work being done at the Malaga airport has probably not gone unnoticed. The work as been ongoing now for a few years and looks like completion is coming soon, Easter 2010 according to the powers that be. Not bad timing considering a lot of people talking of many western European economies should be out of recession by then.
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Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: airport, Costa del Sol, development, expansion, Malaga, news
As a slight change of pace from talking about properties for sale on the Costa del Sol I thought I would talk a bit about the property rental market here in Fuengirola. As can be imagined, as an estate agency based on the Paseo Maritimo (beach promenade) of Fuengirola, we get a fair share of passing trade asking for rentals in the area. I must admit, originally we were not keen on starting a rental department, but due to the amount of people that have approached us, both tenants and landlords, we finally decided that although our main aim was still to help people sell their property, rentals over the last 2 years has proven an additional boon.
Categories: Costa del Sol property · costa del sol information
Tagged: fuengirola property, holiday rentals, long term rentals, property fuengirola, property mijas costa, property rentals, rentals in fuengirola, rentals in mijas costas
Up to 2008 all property owners in Spain were liable for two separate taxes every year, income tax and wealth tax. The good news is that the Wealth tax has been suppressed this year and therefore from 2009 on, both residents and non residents just have to pay income tax. In effect, any non-resident individual with a property in his/her name is subject to an Income Tax of 24% of 2 percent (or 1.1% if the cadastral value has been revised after 1994) of the valor catastral, the official rated value of their property.
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Categories: Costa del Sol property · costa del sol information
Tagged: Costa del Sol blog, legal advice, spanish taxes, spanish will, taxes
I have just created a new site, the Costa del Sol business Directory. As the name implies this is going a business directory for businesses on the Costa del Sol. I have only just started this blog, so it is not exactly jam packed with businesses yet, but if any of you do have a business you wish to advertise or wish to recommend, please email costadelsolbusiness@gmail.com.
Categories: costa del sol information
Tagged: business, business directory, Costa del Sol, Costa del Sol blog, costa del sol business
As you dear reader might have noticed, I’ve started mentioning one or 2 companies that I feel could be of interest to you. Whether via direct experience or by recommendation I intend to mention companies that have a proven track record. The latest addition to this list is a car rental company based on the Costa del Sol, Helle Hollis.
Categories: costa del sol information
Tagged: car hire, car hire costa del sol, car rental costa del sol, car rental fuengirola, car rental malaga, car rental nerja
According to the economic analysts of Andalucía the current economic recession will continue to affect Andalucía until the 4th quarter of this year with the GDP of Andalucía shrinking by 1.3% in 2009. This is in contrast to 2008 when GDP increase by 1.1% in Andalucía.
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: andalucia, Costa del Sol, costa del sol economy, credit crisis, economic crisis, economy, southern spain, spain
Good morning, I’m sure many of you have realised that suddenly you are getting electricity bill every month instead of bi-monthly from Endesa Sevillana.
What you probably don’t know is that the latest bill is probably not from the reading of the meter but is an estimate. So you are probably over paying! The government has said that this is not acceptable! If the electricity company is going to send out the bills every month, the metre will need to be read every month!
So if you have already paid, contact Sevillana and complain (reclamacion), and once they read the metre any additional payment you made will be refunded.
Sevilla-Endesa (costa del sol contact)
Tel.:
952 800 792
952 794 845
Regards
Andrew Bellés
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: electricity, news, over charge
It appears that’s 2 properties/developments are to be demolished, the cost to be paid by the developer
These are 2 of the 8 properties that the Mayor, Ángeles Muñoz, has promised to demolish in exchange for the Junta de Andalucía granting temporary trading licences to businesses located in other illegally built buildings. Although it appears that the Junta are going to want to see further demolitions in the future.
One of the properties to be demolished in Rio Real is owned by Avila Rojas, currently facing charges under the Malaya case and the other is located in San Pedro and was built by the builder Prosavi
News source: www.typicallyspanish.com
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: junta de andalucia, malaya case, marbella demolitions, Marbella town plan, PGOU, property
According to the Spanish newspaper ‘El Pais’ the Spanish developer Aifos has been forced into administration proceedings by creditors.
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: aifos, aifos bankrupt, aifos bankruptcy, aifos financial, andalucia, bankuptcy, developer, southern spain, spain
Well in a positive sign of future development projects the Junta the Andalucia has approached the European Investment Bank (EIB) to seek funding for the Costa del Sol train network that will connect Fuengirola to Estepona.
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: Costa del Sol, Costa del Sol News, La Cala, mijas property, property for sale, real estate, real estate spain, rental property, southern spain, spain
In an interesting more Prime Minister José Luis Rodríguez Zapatero is giving Spain’s town halls are to be given a key role in fighting Spain’s economic crisis.
Categories: Costa del Sol News · Costa del Sol property · costa del sol information
Tagged: Costa del Sol, economic crisis, economic stimulus, southern spain, spain, spanish economy, town hall
An article appeared in the Sur in English today with the apt title “Not even ten out of every 100 employment contracts signed in Andalucía this year are permanent”. I don’t think I need to go into too much detail about what the article is about. It seems that according to the statistics of the Employment and Immigration Ministry, Extremadura, Andalucía, the Basque Country and Castilla-La Mancha offer the least job stability out of all of Spain.
Categories: Costa del Sol News · costa del sol information
Tagged: andalucia, contracts, Costa del Sol, employment, Ministry of Economy, social security, spain
I’ve recently been reading a lot of English news website to see what was being said about Spain and what new doom & gloom articles are being written about property in Spain. IT looks like ‘overseas’ property is not the main story it was, but the credit crunch/crisis/Armageddon is! An article I did find, that has annoyed me no end, managed to combine the credit crisis, Spain and xenophobia.
Categories: costa del sol information
Tagged: Costa del Sol, immigration, racism, spain
According to the Spanish press, Aifos a developer known for such projects as Terrazas de Torreblanca and Las Caballerizas, has been forced into receivership by one of its creditors!
Categories: Costa del Sol News · costa del sol information
Tagged: aifos, andalucia, Costa del Sol, developer, Fuengirola, Marbella, Mijas, property, spain, torreblanca
I thought it would be worth writing an article on bank guarantees (aval bancaria) as many people bought off-plan properties during the recent boom in construction here in Spain. So first of all, what is it?
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Categories: Costa del Sol property · costa del sol information
Tagged: bank guarantee, Benalmadena, Costa del Sol, Malaga, Marbella, Mijas, off-plan, spain
Love it or hate it, most will agree that Torremolinos on the Costa del Sol has a certain charm. Why? Well its secret appears to be that it has managed to preserve its authenticity despite being a tourist destination for the masses for 40 years. Many of the hotels built in the ‘50s and ‘60s are praised today by many fashionable architects. This might be why Torremolinos is praised in the British Airways Highlife magazine as one of the top 50 authentic destinations in the world.
Categories: Costa del Sol News · costa del sol information
Tagged: andalucia, Costa del Sol, spain, Torremolinos
If anyone is looking for a baby shop, I would definitely recommend Bibi-Lé in Fuengirola. It has a decent selection of all products that parents to be would need and what they don’t have, can be ordered.
The main reason why I would recommend this store is due to the absolutely wonderful customer service to be found here. We bought a push-chair from this store just over nine months ago and I had to return today, due to a torn tyre. As you can imagine I went prepared, with warranty in hand, ready to argue my case about why I needed a new wheel straight away!
Categories: costa del sol information
Tagged: andalucia, baby shop, baby store, Costa del Sol, Malaga, spain
According to the Junta de Andalucia, of the currently 45.000 unsold properties in the province of Malaga, approximately 20.000 properties are suitable to be converted into VPOs (subsidised housing) and are anxious to do so. To date only around 700 properties have been converted.
Categories: Costa del Sol News · costa del sol information
Tagged: andalucia, Costa del Sol, Fuengirola, housing, Malaga, Marbella, Mijas, mijas costa, southern spain, Torremolinos
