La Zagaleta Property
Area Guide
• Invest in Europe’s most exclusive and luxurious private resort in the mountains of Southern Spain
• Finite supply of property and high demand so excellent investment and rental opportunities
• Design and build your own dream house
• Fabulously secluded villas set in large gardens start at 3m EUR
Enjoy a leisurely game of golf on one of two world class courses and then retreat to the country club for a relaxed lunch with friends and family; while away a lazy afternoon sunbathing on your private terrace with panoramic views of the mountains before cooling off in your infinity swimming pool and enjoying a chilled glass of cava; explore the local countryside on horseback trekking through stone gorges and wooded valleys before climbing rocky paths to marvel at the fabulous mountain views and distant glimpse of the sparkling Mediterranean Sea. Located in the most southerly part of Spain on the western coast of the Costa del Sol, just 30 minutes’ drive from the cosmopolitan towns of Marbella and Puerto Banús and a 20 minute drive from Gibraltar airport, La Zagaleta property offers investors the opportunity to become part of this elegant and luxurious resort, which is quickly becoming a mecca for the rich and famous.
La Zagaleta is becoming Europe’s most luxurious and beautiful private residential resort famous for its two world class golf courses and international equestrian centre. Sprawling across 2,200 acres of mountains and valleys, La Zagaleta combines mountain, forest and lush green fairways with stunning views of the Mediterranean Sea. With only a finite supply, La Zagaleta property is much sought after as discerning and well-heeled investors continue to show interest in this secluded and very private resort.
La Zagaleta was built by Enrique Perez Flores who bought the land in 1991 from Adnan Kashoggi who used the estate as his party house and hunting grounds. Back then the location felt remote as the coast’s motorway had not yet been built and Malaga airport was still a small, domestic airport. But Perez Flores had a vision of creating Europe’s most exclusive estate in terms of privacy, security and luxury. Kashoggi’s house was converted into the exclusive country club and beautiful villas were designed by leading architects – all surrounded by lush and landscaped gardens and far enough away from each other to ensure total privacy. All residents have exclusive access to the club house, 24-hour security and a concierge service and the chance to play on two professional golf courses: La Zagaleta and Los Barrancos. There is also the equestrian centre breeding Arab and Spanish horses with 23 stables and four arenas and clay or hard surface tennis courts.
La Zagaleta property appears to have weathered the Spanish property crash and whilst there are many unsold properties along the Costa del Sól, La Zagaleta property is in high demand and prices have remained the same or in some cases increased.
When looking to buy La Zagaleta property investors can either buy an existing property, one under construction or invest in one of the few remaining plots enabling you to design and build your perfect dream home. La Zagaleta property comes in all shapes and sizes with prices to match. A five bedroom villa built in the traditional Andalucían style and designed by architect Cesar de Leyva with sweeping views across the golf course and mountains can be yours for 4m EUR. Alternatively a stunning five bedroom contemporary villa with panoramic views of the mountains and golf courses, its own cinema, swimming pool and gymnasium would cost in the region of 5.5m EUR. At the top end of the market 15m EUR will buy you a newly completed seven bedroom contemporary villa set in stunning gardens with beautiful marble and wooden interiors, panoramic sun terrace, outdoor and indoor swimming pools, a gymnasium and covered parking for ten cars.
There are also a number of properties under construction. For example a newly constructed seven bedroom Moorish style villa facing a wooded valley with distant views of the mountains with specially designed tiles, intricately carved stonework and beautiful wooden ceiling can be yours for 16.9m EUR. With 80% of the work finished, you can choose how to complete the construction of this stunning villa to make it your perfect dream home.
La Zagaleta property provides investors with the perfect opportunity to buy a property in the most exclusive and luxurious residential development in Europe and to enjoy a quality of life that is second to none. Whether you decide to buy a plot of land to build your own dream house or purchase an existing fabulous villa, La Zagaleta property prices have remained upbeat and competitive compared with much of the rest of Spain. It is easy to see why this area of the Andalucía is so popular and why La Zagaleta makes a perfect holiday and investment destination.
Buying a Property in Spain
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.