February 2009 - Carnaval - Past the Mask

Carnival – Past the Mask… Written by Martin Bright of Tropicana Properties, Almuñecar

martin.jpgPrior to fasting; and the 40 days of Lent, traditionally this month we have the popular celebration of Carnaval where the locals party with street parades and masquerades. Here in Spain the most spectacular are held in Cadiz and the Canaries (Gran Canaria and Tenerife) – and attract many participants and tourists the world over. Here in Almunecar, the weekend of February 20th and 21st is Carnaval – with the children’s  parade on the Friday evening, and the adults Saturday. Disguises, masks, dressing up, and even cross-dressing are often the chosen ways of concealing your identity at this festival – even at the end, when the parades disperse, you will still find revelers in bars and cafes concealing themselves behind their new found persona. So go on, take part, and forget your woes… who knows what might happen in 2009 – it could be life changing?

Leaving the fun and folly of Carnivals behind… again we have to report of some disturbing credit crunch effects taking place on Spain's Costa Tropical. The most dramatic being that the local office of the electric utilities provider, Endesa, reports a four fold increase in the number of supply disconnections it has authorised this January as compared with January 2008; with more than 70% being foreign owned properties. However, this is not only a consequence of the credit crisis but also the result of billing changes. As of January 1 2009, Endesa, has moved billing from bi-monthly to monthly, nevertheless they continue to only cut supply if more than three direct debit payments are returned unpaid. Therefore when owners were expecting to be able to stay connected for at least six months this is now reduced to just three.

The costs of reconnection are not to be sniffed at either… because Endesa charges at least 120-150 Euros to reinstate the meter, plus you then have to re-instate the contract and direct debit payments to your bank. It will not be surprising that some foreign owners, stretched to the limit by the strong Euro or cautious about transferring currency to their Spanish bank accounts, may be arriving at Easter to find their properties without electricity; basically because they had insufficient funds available in their Spanish bank account… so my advice is if you think you may be in this position check your account now.

While fairly established in the US property market and recently discussed in the European zone, there seems to be a renewed interest in shared, fractional, or partial ownership of property at a time when prices are falling and credit is limited. While this process is very different to the TimeShare concept, it is nevertheless a way for groups of investors to distribute property ownership between them. Just recently we have started to receive enquiries from clients looking to purchase property on this basis – as they try to put whatever savings they have back into property rather than receive a low interest rate over the next few years as the banks restructure. At the moment there are no clear rules as to exactly how this form of purchasing will operate but there are already signs that in the Middle Eastern markets (Dubai especially) it is becoming popular with certain foreign investors. Shared investments reduce credit liability, and also give proportional investment benefits without too greater risk. If you have established your own small group of investors looking at this type of purchase then please contact me to view some great bargains! Or, alternatively send me your budget and requirements and let's see if we can't link with other persons interested in the same shared ownership deals available.

"It's for you. It's for everyone… It's your referendum," claim the many brightly coloured posters and photo sign boards dotted around the town. The mayor and his staff are busy with public meetings at various locations around the town since the last fortnight as they launch their defense of the local urban planning proposals. Yet with the vote due at the end of this month, still there is nothing published or available from the town hall planning department. So it seems that the only way you can know how the proposals affect your district is to attend one of the public meetings…

Strange but true – with the growing number of local unemployed builders in Almuñecar and La Herradura now claiming paro (unemployment benefit); why did the Almuñecar town hall contract workers from Malaga and Seville provinces to work on the underground public car park projects at Velilla and San Cristobal beaches? Answers on a postcard, please, to Snr Benavides, Ayuntamiento de Almuñecar, 18690 GRANADA .

Martin Bright moved to this area in 1995 and has more than 30 years experience in the service and tourism sector.  He joined the team at Tropicana Properties in Almunecar in January 2000. For more information on property sales contact Martin on 0034 958 630 320 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .  His websites are www.tropicanaproperties.com and www.spaincostatropical.com .

Previous articles from Martin can be seen here .