A Five-Bedroom Spanish Villa With Classic Style
$1.5 MILLION (1.29 MILLION EUROS)
This five-bedroom home, often known as Villa Dos Palmeras, is in the snug Pinares de San Antón neighborhood, east of the historic city heart of Málaga, on the southern coast of Spain.
The four,090-square-foot villa, constructed in 2003, sits in the prime proper nook of a walled zero.34-acre lot in the Málaga mountains. Below, the previous fishing village of El Palo bustles with outlets, markets, tapas bars and fish eating places alongside a string of sandy seashores. The two-story home faces south, with views over the Mediterranean Sea and, on a transparent day, to the Rif mountains of Africa.
“My goal was to build a house that had every modern amenity but in a style of the old, classic palacetes found throughout Andalusia,” stated Stephen Okay. Gomez, the proprietor, a novelist and actual property dealer from San Francisco. With his spouse, Marisa Moret, an lawyer, Mr. Gomez wished to construct “something that represented a family home in Spain,” since his paternal grandfather was born in Málaga.
A wooden door in a fringe wall opens to the villa’s gardens and a stone stairway, which climbs to a entrance porch below a pergola draped with flowering vines. A double entrance door in an vintage stone portal results in a large entry corridor with an oak-beamed 11-foot ceiling. Thick, glazed “barro” clay tiles run all through.
The inside designer Ronald Crosetti designed the home round the adjoining enclosed two-story heart patio. At the heart of its 33-foot wooden ceiling, a skylight opens electronically to vent warmth.
A chandelier beneath the skylight was normal from the metallic cowl of a church pulpit, stated Carolina Herrera, an agent with Engel & Volkers Málaga East, which has the itemizing. To one facet of the central patio, an vintage Moroccan wrought-iron and glass door overlooks a mini inside patio with tiles copied from a Syrian mosque.
Two steps down from the porch, the huge lounge has a coffered wood-beam ceiling and a hearth with a hacienda-style sandstone mantel. Two units of double doorways open to a walkway between the home and a 40-foot lengthy lap pool, which has a spillover that cascades right into a small pond in the backyard under.
Double doorways from the TV room, additionally off the heart patio, lead throughout an outside terrace to the pool. The TV room and adjoining first-floor bed room have en suite baths.
The kitchen has a U-shaped work space, wooden cupboards, terra cotta-hued marble counter tops, a hearth, breakfast nook, bar and elevator cease (the elevate runs from the lower-level four-car storage to the upstairs bedrooms).
The second-floor touchdown has views of the Mediterranean by way of a trio of arched home windows. All three bedrooms have en suite baths and walk-in closets. French doorways in the major bed room open to a non-public terrace with sea views. The bigger visitor bed room has a nook balcony with ocean views.
Next to the storage, a one-bedroom condo is reached by way of an exterior door or by way of the storage. Access to a wine cellar, fitness center, storage, music studio and laundry room is in the storage. An vintage stone pergola is in the backyard. The home, which has 5 heating and air-conditioning zones, is being bought furnished.
The property is in a non-public growth, two blocks from an entrance to a protect and climbing space on the San Antón mountain, and some blocks from the 130-year-old Málaga Tennis Club. Among Málaga’s 37 museums are the Picasso Museum Málaga and the influential Spanish artist’s Birthplace Museum. Marbella, common with jet-setters, is 45 minutes away. The Málaga airport is a 20-minute drive.
The southern coast of Spain has lengthy been a preferred vacation spot for vacationers and overseas patrons, driving a lot of the nation’s housing-market restoration after years of falling costs in the wake of the world recession.
Before the coronavirus pressured Spain to close down in March, the market on the Costa Del Sol, simply south of Málaga, was “very stable, with constant high demand since 2012,” stated Smadar Kahana, managing director of Engel & Volkers Marbella. Sales-wise, 2019 was “one of the best.”
“Many important sales were achieved prior to the lockdown,” stated Pia Arrieta Morales, a companion at Diana Morales Properties. “Prices did not seem to be affected by the fears announced by some experts.”
As of Aug. 18, Spain had reported 359,082 instances of Covid-19 (the most of any European nation) and 28,646 deaths (fewer than Italy, France and Britain), in response to the The New York Times’s coronavirus map.
Today, the market has nearly bounced back to pre-pandemic levels. “Though a few deals were immediately canceled when the lockdown began, most agencies saw strong interest, fielding more inquiries than usual from local, national and international buyers,” Ms. Kahana said. “We were able to close deals also during the lockdown and some deals were generated via virtual viewings.”
Still, total real estate transactions fell by about 20 percent from 2019, said Mario Garnica, director of Engel & Volkers Málaga, because of the “historic drop in air traffic and to the quarantine imposed to avoid the virus spread.”
When stay-at-home measures were eased in Spain and other countries, “pent-up demand” for properties on the Costa Del Sol rocketed, Ms. Arrieta said, with property searches on her company’s website climbing 34 percent compared with the same period last year.
“As soon as flights were authorized to land in Spain, sales started to happen,” she said, “with many of the deals agreed prior to Covid-19” completed in May and June. “Prices and sales remain on par with 2019, with neither significant discounts on the deals nor big hits on the asking prices,” she said. With so much demand, some asking prices have increased.
Deals are also closing quickly. “We have many European clients that seem to be in a hurry to purchase houses here,” Ms. Kahana said. “People realize the comfort and efficiency of working remotely.”
The Costal del Sol has 17 municipalities and more than 93 miles of coastline. Marbella has long been “the jewel of the crown,” including the neighboring towns of Estepona and Benahavis in the “Golden Triangle,” Ms. Arrieta said.
The “Golden Mile,” between Marbella and Puerto Banus, is also coveted by deep-pocketed foreign buyers, with luxury prices ranging from $3.5 million to more than $70 million.
Sixty percent of buyers are purchasing holiday properties, Ms. Kahana said, often seeking modern new houses with traditional Andalusian flair. Prices for two-bedrooms near the beach range from 700,000 to 2.5 million euros ($828,000 to $2.95 million). Further inland, buyers can find properties for as little as 350,000 euros ($415,000), Ms. Kahana said.
In the port city of Málaga, home to about 570,000 people, the majority of buyers are full-time residents, Mr. Garnica said. Resales of older homes dominate and Mediterranean style is most coveted. New condominiums are being developed in the city and along the coast. In Málaga East, mansion prices top out at 4 million euros ($4.7 million), far lower than in Marbella, Ms. Herrera said.
Who Buys on the Costa del Sol
In the province of Málaga, 28 percent of property transactions in 2019 were completed by foreign buyers, said Maria del Mar Poza, marketing director for Diana Morales Properties. In the first quarter of 2020, it was about 33 percent.
Hans Veenhuijsen, managing director of the local Christie’s International Real Estate, said buyers typically come from Britain, Germany, Scandinavia, the Netherlands and Belgium.
Buyers also come from France and Finland, Ms. Herrera said.
Lisa Sadleir, a relocation consultant and property finder who runs the website MoveToMalaga.com said clients span the globe, including the United States, Canada and the United Arab Emirates.
There are no restrictions on foreign buyers in Spain.
A Foreign Identity Number, obtained through the police department, is required for opening a bank account or to buy property, Ms. del Mar Poza said.
A notary must oversee the process of signing contracts, transferring deeds and ensuring that taxes and fees are paid. An independent lawyer specializing in Spanish conveyance laws is highly recommended to do due diligence and check title.
Banks offer mortgages to foreign buyers for up to about 50 percent of the purchase price, Mr. Veenhuijsen said.
Languages and Currency
Spanish; euro (1 euro = $1.18)
Taxes and Fees
The annual property taxes on this house are 2,320 euros ($2,668), with monthly homeowner association dues of about 100 euros ($118).
Transfer taxes are approximately 10 percent. Notary fees run about 1 percent; lawyers also charge about 1 percent. The seller pays the 5 percent real estate commission.
Carolina Herrera, Engel & Volkers Málaga East, 011-34-689-434-343, engelvoelkers.com
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