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123 Property News Issue 39 (April 2006)

Welcome to Issue 39 of 123 Property News, during our seventh year of publication!

A New Year and a Fresh Start! The construction sector along the Costa del Sol should regain momentum in the coming months, with the finalisation of various town master plans in sight and with consultation on the new territorial plan going ahead. When all these plans are finalised we will finally know how the land lies with regard to new property developments.

Sometimes over the last few years it almost appeared as if the law of the jungle applied in some areas of the Costa del Sol, with residential and commercial developments springing up in what were thought to be protected open areas. Or the housing density of an area would suddenly be doubled, meaning that existing single family houses were suddenly overshadowed by huge tourist complexes. Rumours grew about dubious construction projects being permitted in doubtful areas. These sort of stories quite rightly left prospective purchasers wary of buying into new projects.

Over the past year or so legal investigations have been carried out into the sources of finance of several development projects and into the non-adherence to the correct planning laws of several municipal authorities. Swift steps have been taken where wrongdoing has been established and offenders have been removed from their posts. Many towns have now completed town plans that have been accepted by the Junta de Andalucia’s planning department, leaving no doubt about where construction is permitted.

These recent happenings should draw a line under the past. Everyone is now much more aware of the need to get independent legal advice and to follow the rule book faithfully. Before you buy, make sure you acquaint yourself with the ins and outs of buying residential property in Spain. We at 123 Property News can heartily recommend that all potential buyers, and indeed all residents, in Spain should follow our regular features, ‘You & the law in Spain’ (courtesy of Santana Books) and ‘Spanish Mortgage Advice’ from Natwest Bank. And from this month look out for 123 Law, our new series in conjunction with leading Gibraltar law firm, Hassans.

Be well informed before you buy and you might save yourself a big headache later on!

I now leave you to enjoy our magazine.

Paul Cosquieri
Director for 123 Publishers Ltd, Editor

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