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Spain Real Estate News

What's really happening in the real estate world in Spain? The EOS Team are going to be keeping you up to date with everything that's happening from a market perspective.

British couple sentenced to eight months in Spanish prison for building retirement villa on protected land
Wednesday, January 19, 2011

A British couple have been sentenced to eight months in prison and ordered to demolish their Spanish villa for breaching planning regulations.

David and Janet Hartshorn illegally built a large house on protected land near the Costa del Sol town of Torrox, a judge ruled.

The couple appeared before a judge at Criminal Court number eight in Malaga last October 14 for a one-day hearing, with the court's sentencing published yesterday.

The judge is expected to suspend the prison sentence, as jail terms of two years and under are usually suspended for first time offenders in Spain.

Speaking at the property under threat of demolition, Mrs Hartshorn said she had not yet been informed of the judge's ruling.

'This is terrible news,' she said. 'I am very upset by this. We haven't been told anything about the result of the court case. We have a meeting with our solicitor tomorrow..

'The house was built nine years ago and people are still building houses illegally round here.

Judges in Spain make their sentences known in written rulings rather than at hearings in open court.

Those rulings are then made known to the parties involved through their solicitors.

Defendants do not attend a sentencing hearing as they do in UK courts and the ruling was published in reliable local newspaper Malaga Hoy yesterday.

The judge ordered them to demolish the house and pay a fine of €5,400 (£4,500).

The couple built the 2,580sq ft house on land which only had permission for a house one tenth that size.

In September 2000 they bought a third of an acre of land in Pago de Santilla, near Torrox, on which there was already a tiny ruin of a house of 320 square feet.

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All eyes on debt details in Spanish banks' results
Thursday, January 13, 2011

MADRID, Jan 12 (Reuters) - Investors will focus on the detailed breakdown of Spanish banks' exposure to real estate debt due to appear on full-year results, in the hope it will clarify the health of the country's financial system.

The Bank of Spain has demanded the nation's banks publish construction and mortgage debt exposure, their loan-to-value ratios and provisions to cover potential bad loans in full-year results, the first of which are due out on Thursday.

The level of bad loans related to real estate on banks' books, especially those of the unlisted savings banks which account for around half the banking sector, have helped fuel concerns over the stability of Spain's financial system. "Additional visibility and clarity is going to be very well received," said Arturo de Frias, analyst at Evolution Securities.

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Marbella Town Hall told to complete demolition of illegally built properties
Monday, January 10, 2011

The Andalucía High Court of Justice has, once again, ordered Marbella Town Hall to demolish the illegally built properties in the town on which demolition orders have already been issued.
In the latest judgement the Court reminds the Town Hall that it has the obligation to follow firm sentences.

Judges Manuel López Aguyó, José Baena de Tena, and Eduardo Hinojosa Martínez, explained that the Supreme Court declared in 2003 that ‘article 118 of the Constitution establishes the obligation on the Town Halls to comply with the firm sentences of the courts’. They also consider that such obligations have to be met ‘in the public interest’, and not for the interest of individuals.

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