Luxury Real Estate

Courtesy of Rimontgó

The mild weather and good facilities make Spain a favourite among the leading teams preparing for the new season. Circuits like those of Jerez, Barcelona and Valencia feature particularly prominently, enticing the elite of motor racing away from the drawing board and factory workshops and on to the track.

It is here that new theories and designs are tested, and the teams’ responses to a whole new set of technical rules and specifications are put through their paces. The racing teams that commit their precious new creations – on which they have been working feverishly through the winter – to the open track, will soon get an indication of just how well they have done in preparing their cars for combat.

In some cases it sparks controversy, as in the case of the new Ferrari F2012, which some consider to be ‘ugly’. Presented at the Jerez circuit, it caused the usual admiration associated with the unveiling of a flaming red Ferrari, but also had its critics. Two-times world champion Fernando Alonso, however, was unfazed about the appearance of the car, as long it helps Ferrari compete for the title this season.

While Ferrari continue to fine-tune the aerodynamics, McLaren and Red Bull carried on last year’s rivalry as reigning world champion Sebastian Vettel and Lewis Hamilton went head to head in early testing at Jerez. Mercedes, who actually posted the fastest times, were out with their 2011 model, indicating that the new regulations have indeed slowed the cars down. Rosberg was tyre testing ahead of the launch of the new model, making Mercedes one of the last teams to unveil their 2012 car, after earlier presentations by Toro Rosso, McLaren, Red Bull, Sahara Force India, Ferrari, Caterham, Lotus and Williams.

For Williams it is a pivotal year, as they hope to succeed the worst year in the outfit’s history with a return to success. The ingredients, in the form of the classic pairing of Williams design and Renault power, are certainly there. Meanwhile the new Lotus (last season’s Renault team), has received praise for the stylish way in which its designers have interpreted the new technical specifications. Many regard it to be one of the most attractive F1 cars currently on the track, and 2007 world champion Kimi Raikkonen marked his return to the sport with impressive times in testing at both Jerez and Valencia.

The new season sees a number of new faces in the form of young rookie talent. It’s as you were in the top teams, but Lotus features a new-look line-up with Raikkonen and GP2 Series champion Romain Grosjean. Others newcomers are Jean-Éric Vergne at Toro Rosso and Charles Pic at the new Marussia F1 Team that replaces last year’s Virgin Racing, while last year’s Renault team is now Lotus and last year’s Lotus team is now called Caterham. Spain’s Pedro de la Rosa is one of several drivers making a return to the top flight of motor sport, having secured a place at the Spanish HRT Team.

With the teams beginning to rev up, all eyes will be on the new drivers, the new tyres, the new cars and the first Grand Prix to see how the 2012 season will begin to take shape.

Rimontgó extraordinary life houses
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Courtesy of Rimontgó

When King Felipe III of Spain granted Jávea town rights on 2 July 1612 he probably didn’t imagine that it would still give cause for a full season of celebrations in the 21^st century. If so, he would have underestimated the pride local people continue have in their town and its origins and traditions. What’s more, given the Spanish penchant for celebrations and festivities an event such as a 400^th anniversary is something that fires the imagination.

And thus the Jávea Town Council agreed upon a full list of commemorative events and celebrations during 2012, to “…commemorate this anniversary with the citizens, to strengthen the pride of belonging and promote our history, which is the key to our cultural heritage and guarantees our identity." As a result, the Department of Culture has been charged with creating a programme of events to mark 2012 as a milestone in the town’s history.

In addition to celebrating the 400^th anniversary of the incorporation of Jávea as a town, the people of the region will also be commemorating darker times 200 years ago, when the country was in the grip of the Peninsular War and the town was sacked by French troops. Things came to a head on 28 August 1812, when Napoleonic forces attacked the town and drove British troops out of the Castillo de la Fontana.

This official commemoration of war notwithstanding, the emphasis of the celebrations will be joyous, allowing local residents to feel pride in their origins and inviting visitors and foreign residents to join them in what is going to a year full of fun activities and events. The Town Council is expected to publish the full agenda of celebrations early in the year.

Rimontgo Extraordinary Life Houses

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Courtesy of Rimontgó

 Hong Kong was the focus of Asian real estate in November as sector decision makers and professionals from the region – and across the world – converged on the city during the MIPIM Asia convention. Rimontgó was represented by both its principals, José and Antonio Ribes Bas, an indication of how important this region is becoming in the international luxury property market.

“We don’t expect Asian buyers to replace European ones in our core markets of Valencia and the Costa Blanca,” said José Ribes, “but it is clear that Asia, and the Far East in particular, is becoming an increasingly important player in international luxury real estate.” Mr. Ribes emphasised that there are two currents presently magnifying the importance of this new market: “The first is the fact that countries like China have been experiencing rapid growth for some time now, and as a result the number of industrialists and businesspeople with sufficient means to invest in luxury real estate on a global scale has grown rapidly both in quantity and in terms of their acquisitive power.”

In addition, he cites the current downturn in the developed economies, where wealth growth has slowed and those with the means are for the time being more cautious than their counterparts in Asia and other booming parts of the world. “The global slowdown will temper growth in the newly emerging economies as well, but even so wealth is growing greatly here and those with it have the confidence to spend it. What’s more, they have the foresight to look beyond their own immediate geography and recognise the great investment opportunities that are available in large parts of the world today.”

During the event the Ribes brothers met with representatives of the Spanish consulate, the Sino-Spanish Chamber of Commerce and representatives of other institutions aimed at promoting trade and investment. “It was highly instructive,” said Antonio Ribes. “Asia is very much in tune with what is going on elsewhere in the world, and this awareness comes both from the public and the private sector.” Indeed, the bulk of the professional participants were property experts, developers and investors from China and the Far East, but the event also attracted fellow industry specialists from South East Asia, the Middle East, Europe and former Soviet republics in Central Asia.

Emerging markets for commercial RE investments

Though many were aimed at attracting investment and buyers for real estate projects within buoyant markets such as China, India and Azerbaijan, there was also a significant body of investors looking for opportunities in other parts of the world. “Since many of the best deals are currently to be had in more developed markets such as Europe and the US, this is where much of their attention is focused,” said Antonio.

“What we are finding is that in addition to investing in local commercial and real estate projects, an increasing number of successful entrepreneurs in countries like China, Korea, Vietnam, Singapore and India are also looking to expand their portfolio geographically to include especially commercial RE opportunities in Europe and America.” The latter includes office complexes, retail and entertainment facilities such as shopping malls, cinemas and theme parks, but also golf courses, resort hotels, marinas and wineries. “In addition there is an interest in land, both for future development and with a focus on timber, agricultural and mining resources.”

With this in mind Rimontgó will be looking to further develop its commercial division in the coming year to offer a more independently focused and specialised service to international clients that wish to avail themselves of the enticing investment opportunities now available. “Through our international networks we can offer serious investors not only a wide range of different product types but also in a broad range of countries including Spain, Italy, the UK and the USA,” says José Ribes, whose firm will be building on its existing expertise in commercial, retail, resort and vineyard investment consulting. “In an ever-changing market it is important to be aware of the latest trends, and to know how to respond to them. Our Asian trip confirmed our impressions about the potential of this growing market. We also made many valuable contacts there, but above all it has spawned an exciting new project that will act as a valuable complement to our existing activities and initiatives.”

Photos courtesy of MIPIM_World.

Courtesy of Rimontgó

It is hardly possible to think of Barcelona without images of Antoni Gaudi's spectacular architecture springing to mind. This proud Catalan has managed to provide a visual focus for a city that could, in the first place, never have been accused of lacking beauty or character.

A deeply pious man, Gaudi was born in 1852 and was famously killed in 1926 by a tram on his way to Mass at Sant Felip Neri church. The unorthodox architect had suffered from exceedingly poor health throughout his life, yet his religious fervour led him to subject himself to rigorous spiritual challenges that involved strict fasts. Eschewing the trappings of physical beauty that so characterise his creations, Gaudi's appearance was so worn and bedraggled at the time of his fatal accident that he was initially mistaken for a penniless tramp. It was only when a priest from the Sagrada Familia recognised him that staff at the hospital to which his unconscious form was taken realised that their patient was the famous Antoni Gaudi.

Even in spite of the fact that it is still not complete, the beautiful Sagrada Familia basilica has been Barcelona's premier tourist attraction for decades. Begun in 1882, the church was only consecrated last year when Pope Benedict visited the city. Plans have been made to ensure that the building will be completed in 2026, just in time for the anniversary of its creator's death.

By this time, fans of this spiritually fervent man are hoping he will have been declared a saint. Gaudi's beatification has already been set in motion, but religious experts predict that his canonisation may be some way off, since no miracles have been attributed to him. The millions of fans of his architecture will argue that the dizzying form of the Sagrada Familia itself provides all the evidence that is needed!

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

Called “El Gordo”, which literally means “The fat one”, the whole country comes to a standstill every 22^nd of December, glued to the TV screen or the radio, wishing for their number to be called out by one of the children on stage, boosting their bank accounts and turning many instantly into millionaires. This date is symbolically the start of the Christmas festivities, the last day at school for the kids for that year and for many workers also their last day at their job until the New Year.

With a top prize this year of 4 million euros, the 40 children chosen to “sing” out the winning numbers always proceed from the San Idelfonso School, a government subsidized boarding school for children whose families have socio-economic difficulties, the majority of which are immigrants. They spend months preparing for what is to be their big day and their voices have become the most famous soundtrack in the country.

The Spanish lottery was instituted by King Carlos III in 1763, and Spain has been hooked ever since. Not even the Civil War managed to get in the way of "El Gordo" - in fact, during the war there were two national lotteries, one on either side of the front lines. Tickets go on sale in July with 85,000 numbers issued for each of the 185 series. Each whole ticket (priced at 200 €) is then further sub-divided into décimos – a tenth part of a whole ticket- which is what most people settle for. Often, these décimo tickets are split into even smaller shares, divided between friends, workmates or relatives. In total, more than 157 million décimo tickets are on sale.

All in all, 2,520 million euros will be handed out in 25.5 million prizes, so it’s no wonder that the average Spaniard will spend around 100 euros on lottery tickets for this famous draw! Fingers will be crossed at the Grupo VAPF head offices as we all hope for a great start to our annual Xmas holidays!

Merry Christmas to you all and our best wishes for 2012!

Courtesy of Lucas Fox

Friday, 16 December 2011: New research into country estate properties by Lucas Fox International Properties has found this part of the luxury Spanish real estate sector to be in fast-growing demand. Lucas Fox today release their Country and Sporting Estates Market Report 2011 to share investor knowledge in this Spanish property market sector.

The report expedites that foreign and local country and sporting estate buyers are split into distinct niches: Country lifestyle purists and sporting investors. Both buyer types are in accord that country and sporting estate properties retain their assets and value over time, are resilient to economic downturns and market influences. These types of buyers maintain that purchasing a property is a longer-term investment and if well kept, will not deteriorate in value.

Country and sporting estates are seeing particular interest from Northern European buyers (UK, France, Germany, the Netherlands), Russia and Eastern Europe, Scandinavian countries (Denmark, Sweden and Norway), the Middle East, the US and China.

The most desirable properties chosen by lifestyle buyers include hunting, horse riding, polo and golf. In addition, many buyers are attracted and influenced by the prestige that an estate purchase provides.

Client sporting estate enquiries at Lucas Fox have been growing since the creation of a dedicated service. Headed by Charlotte Rodriguez-Banks, the service has seen the number of enquiries via the website to triple from July to the end of September 2011. Other rural real estate analysts have noted a 16 per cent reduction in the time that quality rural properties are remaining on the market than in previous years.

“We will continue to see strong interest in these specialty properties as we enter 2012. They represent a solid investment with long term potential,” predicted Charlotte Rodriguez-Banks.

Lucas Fox has released the country and sporting estates market report to summarize the first quarter of their new service, and will be releasing similar market updates on a half-yearly basis along with their existing market analysis publications on Barcelona, Ibiza and Costa Brava property markets.

About Lucas Fox International Properties:

Founded in 2005, Lucas Fox specialises in offering quality luxury properties, a professional approach and a high level of service. The company has offices in Barcelona, the Costa Brava, Mallorca and Ibiza.

Services

Further information on Lucas Fox’s Country & Sporting Estates service may be found here.

The report may be found here.

Courtesy of Lucas Fox

Barcelona-based international property and real estate agency, Lucas Fox, has predicted that there will soon be signs of renewed market confidence following the Spanish election results.

“We expect to see market acceptance for the new Spanish governing party in the coming weeks,” explained Alex Vaughan, Director at Lucas Fox International Properties.

Speaking from the Lucas Fox Barcelona offices after the election win by Partido Popular (PP) with 44.6% of the votes, Mr Vaughan said:

“We congratulate Prime Minister Elect Mariano Rajoy and his team for a strong win that we are hopeful will have a quick and positive impact on the property market in Spain. The majority win by the PP with means the new government will have the political stability and mandate necessary to take action to address the current financial crisis and its impact on the property market in this country.”

Vaughan said he believed in coming weeks there will be renewed confidence in financial markets as a result of the election outcome and welcomed the incoming government’s rapid action to announce measures for reanimating the Spanish property market:

“Tax incentives such as the extension of the VAT reduction on new build property and a proposed cut to ITP transfer tax on second hand property purchases will help to sustain and build on the healthy signs in the property market that we observed in the third quarter,” Mr Vaughan said. Lucas Fox International Properties announced its best ever quarter for sales transactions in October this year, trading €19.5 million of properties in the three months from 1 July 2011.

After the third quarter 2011, the company noted signs of strengthening foreign investment interest, a slow down in housing price decreases, and a stabilizing of house values at the luxury end of the market. “If implemented, these proposed tax incentives could stimulate the property market and help assist the lower end of the market to catch up with the renewed vigour at the high end,” Vaughan concluded.

About Lucas Fox International Properties:

Founded in 2005, Lucas Fox specialises in offering quality luxury properties, a professional approach and a high level of service. The company has offices in Barcelona, the Costa Brava, Mallorca and Ibiza.

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

The 13th edition of the prestigious “The Best of the Gastronomy” Congress took place in Alicante over the weekend, with dishes to delight the most demanding taste buds.

Held for the third consecutive time in the buzzing coastal city, this edition combined the elite cuisine congress with an exhibition of local produce in a format that offered free lectures, tastings and competitions.

Alicante city has now been baptised “The Gastronomic City of the Year” as a consequence of the success of the exhibitions held so far, which will be repeated for many years to come.

The formula for this year was to turn the congress into an open project where the general public could have the chance to try all kinds of delicacies from A to Z: Spanish cured ham, oysters, black truffles and champagne, not forgetting the best local black pudding sausages or numerous variations on the traditional Spanish omelette.

Nearly 150 exhibitors and 300 stands distributed throughout 4 main themes (Haute Cuisine, Workshops, Rice dishes and Salted meat and fish) make the event one of the most relevant for promoting the Costa Blanca as an international gastronomic resort, in addition to its well know offer of beautiful beaches and gorgeous weather.

Courtesy of Rimontgó

There was a time when Valencia was linked to the Silk Route. Back in the early middle ages, when it was part of Moorish Spain, the city was an important transhipment point into which silk and other treasures from the East were imported and re-exported to markets across Northern Europe. This trade brought great wealth to the Mediterranean port city, a boon further bolstered by the fact that many of the raw materials brought here spawned an industry of craftsmen, jewellers and tailors whose products sold far and wide.

Later, when the Christians reclaimed the region, Valencia retained its importance as a great Mediterranean port, and under the Aragonese and later the newly unified Spanish crown it continued to be a leading European trading centre. This booming trade made a new class of merchants rich and powerful, a fact that found its expression in the construction of opulent merchants’ homes, churches and public buildings. Perhaps the finest of these is La Lonja de la Seda, or Silk Exchange of Valencia.

Located at the heart of the city, near the Mercado Central, this 16th century edifice represents the power and wealth of the merchant classes and their trade in Valencia. At their apogee they supported the arts and sciences, helping to create a golden age for the city during which it became a leading European centre of culture and knowledge, and a jewel in the Spanish crown. Beside its visual detail and beauty, La Lonja is also significant because it a very late example of the Gothic style; a form of architectural design and construction that had almost died out by the time this building was made, yet which ruled supreme during the high middle ages and enjoyed a glorious revival towards the end of the 19th century – the Houses of Parliament in London being a fine example.

La Lonja is also one of the very best preserved examples of late Gothic architecture, and for this reason, combined with its sheer artistry, was declared a UNESCO World Heritage Site in 1996. Still used for official functions, the beautifully restored building is popular with scores of visitors and tourists that drop in on a daily basis, but if you’re in the area also seek out the nearby Plaza Redonda.

Especially for those who are sensitive to the ambience of a city, the Plaza Redonda is a place that makes a strong impression. Tucked into a particularly atmospheric corner of the old centre, in an area called Carmen, this little circular square still retains the spirit of the past. Stand here for a while and you’ll just sense old Valencia coming to life again. You could almost imagine stopping the clock anywhere from the 1950s to the 17th century or even Moorish times.

It has the air of a forgotten spot in the city where time has miraculously stood still, but in effect this little round is very much a part of the barrio of Carmen and also linked to the lively Mercado Central. An old late-19th century structure housing old-fashioned lace and textile stalls surrounds the midpoint of the plaza, with its little obelisk monument. This structure casts its shade upon the square and together with its improbably ancient shops and shopkeepers is an integral part of the mix that gives it such an arresting but somehow pleasing feel.

Look up and you’ll see that it effectively forms the courtyard of a recently restored circular building, whose inward-looking ground floor premises now house souvenir shops with a mix of traditional and trendy reminders of your stay in Spain. Fortunately, there are also typically Spanish café/restaurants where you can enjoy a drink or join the locals for lunch. Best are the outside tables, which look out onto the plaza and allow you to ponder its mysterious atmosphere at length – or simply amuse yourself by watching the world go past and spotting the tourists’ reaction to this unlikely and not easily defined attraction.

Courtesy of Kirsty Bryson of Luxury Homes by VAPF

Following the success of the previous exhibition in Moscow, the Domexpo real estate exhibition, the VAPF Group will also be attending the Foreign Real Estate Showroom in Saint-Petersburg on the 11^th, 12^th and 13^th of November, at the Peterburgsky SCC exhibition centre.

This is the 11^th edition of this real estate exhibition and a total of 68 real estate companies are due to take part, with a great many representing Spain, the most popular destination for Russian buyers at present. This Real Estate Fair is backed by the St. Petersburg Government and around 30 thousand visitors are expected to turn up.

The exhibition is complemented by a business program which includes seminars and presentations on important issues related to real estate acquisitions in various countries.

The VAPF Group and its luxury division Luxury Homes by VAPF will be meeting up with several of its collaborating estate agents at the exhibition and will be presenting its extensive real estate offer to the Russian market, who loves the Costa Blanca area of Spain, where the VAPF Group developments are all located.