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10 July 2012

British buyers still lead the way A Place in the Sun 10 July 12

Official figures published recently for 2011 show the British bought more property in Spain than any other foreign buyers.*

Of the 22,260 overseas purchases in 2011, almost 20% were British. The number of foreign buyers was up from 4.45% of all property sales in 2010 to 6% in 2011.

18 May 2012

The Corporate Practice Institute (IPE) are optimistic that the ‘stock’ of unsold homes in Spain will be reduced by 23.6% in 2012.

According to the seventeenth edition of the Real Estate Pulsometer prepared by the Corporate Practice Institute (IPE), they are optimistic that the ‘stock’ of unsold homes in Spain will be reduced by 23.6% in 2012, by up to 611,250 homes, and they anticipate that new construction activity will begin to recover in 2013.

On the demand side, the report notes a growing trend of home sales for cash, and in 2012 they expect to sign only a third of the number of mortgages that were contracted in 2006. In parallel, they anticipate promoting some 100,000 homes annually over this year and next.

El Mundo reported that the key to the rapid absorption of the ‘stock’ and the sector’s recovery will be due to the demand for housing by non-residents.

23 Jan 2012

Overseas nationals snap up cheap homes in Spain

Monday 23rd January 2012 International Estate Agent Today

Foreign buyers spent €3.6bn (£2.3bn) on buying homes in Spain in 2011, as they took advantage of significantly discounted properties, according to data supplied by the Bank of Spain.

The figures show that foreign property investment in Spain increased by 27% last year compared to the preceding year.

With Spain’s economy in turmoil and the housing market in disarray, owed largely to a major oversupply of homes, property prices have been in freefall, attracting more bargain hunters in the process.

The hike in property sales in 2011 marks a second consecutive year of growth in international investment with 2011 beating the total value of transactions in 2010.

19 Aug 2011

El Gobierno establece un IVA "superreducido" para la compra de vivienda nueva
Spanish vat reduced to 4%
La ministra de Economía, Elena Salgado (EFE).
E. Segovia / A. Pascual.-  19/08/2011  (13:52h)
El Gobierno ha anunciado una reducción del IVA aplicable a la compra de viviendas nuevas desde el 8% actual al 4%, de modo "temporal y extraordinario" hasta fin de año, para estimular la compra. Asimismo, ha aprobado varias modificaciones del Impuesto de Sociedades que afectan seriamente a las grandes empresas españolas, como la limitación a la deducción de las bases imponibles negativas (pérdidas de ejercicios anteriores) y del fondo de comercio financiero (beneficio fiscal en las adquisiciones de empresas extranjeras).
Estas medidas, a las que se añade el acuerdo con las Comunidades Autónomas para la reducción del gasto farmacéutico, esperan ahorrar al Estado en torno a los 5.000 millones de euros y serán defendidas por el propio Rodríguez Zapatero en un pleno extraordinario del Congreso que se espera celebrar durante la próxima semana.

9 May 2011

7 May 11

Hi Peter, saw this article in the Mail which thought might interest you. It gave us a little wobble but I'm sure you can reassure us. I suppose we have to have confidence in the Monte Pego brand and trust that the building, mortgage and every thing else in which we are embarking is secure. 
Speak soon. 

Spain tries to woo back British holiday home buyers with promises of reform . . .
In spite of property scandals that have seen some Brits having their holiday homes in Spain bulldozed, the country is now trying to woo buyers back with new legislation. Full Story:

9 May 11. Reply

Fortunately, you’ve bought in Monte Pego, now a hillside village, which was approved and urbanised 37 years ago and which now has over 1000 homes most of which are occupied year-round . You'll be glad to hear that UK solicitor Baily Gibson is on record as saying that land grab cannot affect Monte Pego. Read    (5 paragraphs down).

The four areas beginning to recover are all mid to high-end: Old Marbella; Mallorca; Costa Blanca North such as Monte Pego and Northern Costa Brava. In all of them it usually is the long established communities showing signs of recovery. In my 2 previous recession experiences, it was those same locations which led the country back.

Monte Pego is solid, very residential and was less affected by the recession than many other more intensely developed areas of coastal Spain.

Hope this cheers you up.

Best wishes, Peter

Peter Mustafa
Director of UK Operations

9 May K replies

Thanks Peter,

I thought the article might interest you.
We are committed and really looking forward to our new life in Monte Pego.

Cheers, K

15 March 2011

A Place in the Sun: Serious buyers and celebrities returns to the market

High-quality visitors were the focus at A Place in the Sun Live this weekend as exhibitors noted some serious intent amongst buyers. A busy programme of seminars and presentations attracted an audience with both the desire and means to buy overseas.

And in what was a surprising coincidence, celebrity visitors to A Place in the Sun Live included football stars past and present in the shape of Dutch legend Ronald Koemann appearing on the stand, and on a private visit to the show on Saturday evening, Chelsea star and now international property owner, Didier Drogba.

25 February 2011

A Place in the Sun: Over supply of properties in Spain expected to fall

The oversupply of homes in Spain will start to be absorbed this year, thanks to rising sales transactions and a reduction in supply, according to a forecast made by Spain’s Association of Developers and Constructors (APCE). 

If APCE’s projection is accurate it would be great news for the fragile Spain property market, which has suffered as a consequence of the glut of unsold homes on the market.
It is estimated that there is an oversupply of in excess of a million properties in Spain, due to a 10 year construction boom which started in 1997. This has had an adverse impact on the market, causing Spanish property prices to tumble by up to 70 per cent across some parts of the country. 
Official data shows that Spanish property sales increased by 6.8 per cent last year, something which Jose Manuel Galindo, President of the APCE, reflects upon positively. 

Galindo told the Spanish press: “More flats are now being sold then built.” 

Galindo expects Spain property sales to increase further, thanks partly to significantly cheaper prices, while new housing starts should remain at an historic low.

23 June 10

Capital Gains (CGT) Tax changes in the Uk's emergency budget June 2010: how it affects your purchase in Spain

CGT has increased to 28%. So how does this affect you?

Spain and the UK have a double tax agreement (DTT) which means that once you pay your CGT to the Spanish government on the profits of the sale of your holiday home in Spain, you will only have to pay the difference between Spain's CGT and that of the UK's. The CGT in Spain is currently 18%. This is deducted from your profit after all expenses, costs and inflation are factored in.

Additionally, allowances specific to the buyer also apply. You will need to discuss the fine detail with your accountant.

Britons over the age of 65 who have lived in Spain for over 3 years are exempt from CGT.

Britons domiciled in Spain are also exempt on disposal of their property as long as the proceeds are used to buy another home.

10 Apr 10

The Times: A new generation of Britons warms to a life of sun, sea, sand and Spain

They became a symbol of the global housing market crash, unsold, half-built, lining the Mediterranean like skeletal relics of a bygone, more prosperous age.

But villas and apartments on the Spanish Costas are suddenly hot property again as Britain’s second-home buyers rediscover the attractions of life in southern Spain.

Fresh from a chilly, dismal winter, drawn by falling prices and apparently undaunted by the low sterling-euro exchange rate, a new generation of would-be buyers has descended on Spain, according to the Spanish division of Taylor Wimpey.

Typical holiday home buyers are no longer “stereotype retirees”, the UK’s biggest house builder said. Instead, executives with families who spend an average of 60 days a year in Spain have emerged as the dominant British buyers in a region that enjoyed huge popularity during the credit-fueled boom years.

Perhaps in search of a bargain, Rightmove Overseas, the website, said that the number of searches had risen by 60 per cent compared with March last year. Portugal was its most popular search among buyers of holiday homes, it said. reported a rise in searches for international property of 72 per cent between February 2009 and 2010, with France recording the biggest annual rise of 113 per cent. Spain remained the most popular country, accounting for 32 per cent of all searches, compared with 29 per cent for France.




26 Mar 10
A Place in the Sun Live "best exhibition for years"

After two of our worst years in recent properties abroad history, it came as a long overdue relief to be able to report that this Spring's 2010 A Place in the Sun exhibition offering, in London's Earls Court, was one of the best for many years. Not only were visitor numbers heading back towards pre-recession levels, but crucially, the number of serious buyers at the quality end of the Spanish market is the main market sector driving the recovery. This confirms the anecdotal rumour doing the rounds that the higher end Spanish market is definitely returning.

Peter Mustafa of Monte Pego UK said: "This show was a great success for us. Many visitors to our stand have booked viewing trips to Monte Pego and with higher budgets than we have seen in recent years. This was definitely our best exhibition for years."



21 Oct 09
Free extended structural warranty on all resales

Monte Pego's founders and builders, Juan Porsellanes, introduces an exclusive new service to give buyers and vendors of resales additional peace of mind. This facility is exclusive and only available for villas bought through the official Monte Pego resales department. The idea is to provide the villa you are buying with an extended structural warranty free of charge. This valuable facility is completely unique to their company. It is only possible because as builders, they provided the original warranty, have all the original plans and know the history of each villa.
The only caveat being that it applies only to villas built by Juan Porsellanes and excludes villas where structural building works have been carried out by other builders.

The aim of the company is to de fragment the marketing of resales by making the official on-site Monte Pego resales department, which the company is now expanding, user-friendly and a one-stop-shop for all sellers and buyers of resales in Monte Pego.

Additionally, any client interested in a specific resale not already shown on official lists, can simply inform the company of their interest by sending an email with details of the specific villa to and they will contact the owner and add that villa to their portfolio. This provides a buyer with all the official benefits which only the Monte Pego developers can give, at no extra cost more >


9 Oct 09

News release: 8th October 2009 A Place in the Sun

- more text to be added

8 Sep 09
New Villa Design - "Villa 4"

4 Apartments in 1 large villa.
Go see!

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement

16 Oct 07
Feature in Belfast Telegraph

Featurette of Monte Pego.
Go see!

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement

14 Sep 07
Exhibition dates released

Dates of our exhibition appearances have been announced...
Go see!

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement

14 July 07
New Resales

We've added 4 more resales to the site.
Go see!

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement

22 June 07
Monte Pego Villa Resales Arrive

Finally you may say, we have added resales in Monte Pego to the website. The section is in its early days but will evolve and improve quickly. Check it out here!

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement

21 June 07
Monte Pego Social Club Opening

Coming to Monte Pego in 2008 is the opening of The Monte Pego Club Social. A place to meet, make friends, participate in games, activities, competitions and tournaments, learn Spanish, get in shape, free internet access and many more!

There'll be snooker tables, table tennis, a gym, aerobic rooms, conference and meeting rooms, a theatre, library... the list goes on. And to top it off, a Mediterranean Style Garden with Ponds and fountains together with areas for walks, jogging, bouls etc.

The plans for the "Club Social" are exhibited in the reception of the Monte Pego Service Center.

Monte Pego Spanish Villas, resales - The most beautiful residential community in the Costa Blanca North of Spain - Spanish Property, Villas in Spain, spanish villa, re-sales, retirement


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