On 14 April 2013 the Spanish Royal Decree 235/2013 came into force. It approves the basic procedure for the Certification of Energy Efficiency in Buildings.
As from 1 June 2013 there is an obligation for the vendor to make available to purchasers or tenants of buildings a CERTIFICATE OF ENERGY EFFICIENCY (EPC in UK), which must include objective information regarding the energy efficiency of their building or part of it. The Energy Efficiency Rating Symbol must be displayed when the property is being marketed so it is essential to obtain it now. Continue reading →
The CEE – Certificado de Eficiencia Energética – regulation was finally published on Saturday and came into effect on Monday (15th April 2013). As from the 1st of June 2013, no property transfer, by sale or lease, will be registered by a Notary without a CEE. This results from an EU regulation that’s been in effect from 2002 and the equivalent CEE’s have been required for many years in other countries. New property in Spain has had to have the CEE since 2008 and the new regulation brings that requirement to resale properties.
The property owner is obliged to get the certificate by instructing a suitably qualified property professional. They then inspect the property; note the many relevant points of location, construction and condition; enter the information into a highly complex computer formula; and the bar chart ‘banding’ of the property will be produced. This is then submitted to the appropriate Comunidad’s office (eg Junta de Andalucia or Murcia or Valencia) for ratifying and then the CEE is issued to the owner. Continue reading →
Whilst Spain may be behind UK in introducing the requirement for Energy Certificates for property, it gives us to benefit from their experience. Here is a recent article that was aired on the RICS Chartered Surveyor’s website. Author is a specialist in Energy Performance Certificates in England.
The 10 years from 2008 to 2018 are seeing a profound transformation of the regulations relating to energy efficiency and, importantly, their impact on properties. Sam Parkes explains: Continue reading →
In the current economic climate it is perhaps not surprising to find that more people are bypassing building surveys in a bid to save money. These are difficult times, agrees the Royal Institution of Chartered Surveyors (RICS), but it also warns people that not having a survey done before they commit their hard-earned money to a property purchase is a short-term saving that could result in far higher costs over the longer term. Continue reading →
The government body behind Spain’s so called ‘bad bank’, which was set up to remove negative assets from struggling financial institutions, have forecast that Spanish property prices will not begin to rise again until 2017. FROB (The Fund for the Orderly Bank Restructuring) estimate that house prices will fall for the next two years, then stagnate for two years, before starting to increase at an annual rate of 3% in 2017.
Specifically, the organisation believes that prices will fall by 2.8% in 2013 and 1.5% in 2014 before beginning to rise. They also predict that land prices will follow a similar trajectory, falling by 12.5% in 2013 and 5% in 2014, land then beginning to recover in 2016, but at a lower level than that seen by property, just 2.5% a year. Continue reading →
It was an idealistic law in the first place and it should be that properties existing before it was created should remain forever. However, anything built after 1988 should be removed as having been built knowingly illegally. Banana Beach included as all involved should have known, advised or been advised that the property was illegal for many reasons including the Ley de Costas. Those involved have to be sued for negligence and criminal acts and professional indemnity insurers and the government pay compensation to those who bought ‘in good faith’ trusting their advisers, those issuing permissions and those with responsibility to oversee. Continue reading →
Buying a home in another country is tremendously exciting and there are so many things to consider, from the specific area that seems most appealing to the type of property that would best suit requirements.
Naturally, much must be done to ensure that the purchase is secure, such as checking the property’s legal status, making sure that no debts are associated with it, that the vendor really is the legal owner and that the building is sound, with no structural faults that could prove expensive in the future. Continue reading →
Building specifications, methods and results vary according to terrain, climate and cultures and those of Spain are no different. However, as Spain’s climate and culture are most certainly different from those of Northern Europe, some of the practices and materials may baffle the average expat property buyer. On the Spanish Costas, the humid and salty air associated with strong sunlight and heat, cause the less durable elements of buildings to weather quickly. Further inland, the extreme daily and seasonal temperature and humidity changes have equally serious effects. Advancements in style and materials have also been rapid, as promoters, architects and builders have taken on and sometimes led the expectations of their foreign buyers, so that property built just 20 years ago is considered to be old. However, there is also the sticking to conventions despite evidence of poor results – to use a Scottish phrase, ‘it’s aye been’, meaning the way things have always been done – that leads to many of the common problems experienced by property buyers. With so much publicity of past problems illustrating the ‘naivety’ of some buyers, newcomers to the Spanish market are becoming much more aware of the need to seek advice when considering the purchase of a property. Continue reading →
Experienced investors will tell you that buying in a foreign market without the proper advice is too big a risk to take. While the reporters submit stories of cut-price properties in Spain and bargains just waiting to be snatched up, it is essential to confirm the correct current market value of a property from somebody very familiar with the area.
A Survey Spain Valuation Survey considers much more than the property itself, assessing the geographical location, market positioning and information on comparable properties. Our Independent Report will also assess and analyse the documentation available at the time, in an effort to identify any irregularities. Continue reading →
Individuals, banks, countries, etc, all borrowed on the future. Well, the future has arrived and the loans have to be paid back. Problem is the individuals can’t do it, so the banks can’t do it, so the countries can’t do it, and thus ensues the mess we are in. At this stage, only hard work can do it and for that we need working economies, but the stable door is being closed by the banks being required to hold more money as protection against ‘bad times’. Well, those times are now, so really they should be encouraged to do the opposite. The only way out of our predicament is through the investment of labour and capital, or we’ll be in the same mess in 10 years time. Release the funds and have 24-hour ‘work ins’ instead of strikes! Continue reading →