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BUILDING BEAUTY INTO NATURE See page 14
AUGUST MARCH 2025
Malaga gets the Zaha Hadid touch
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T’S not just the sun that’s sizzling in southern Spain - Malaga is getting a bold architectural makeover, and it’s as glamorous as it is groundbreaking. The global icons at Zaha Hadid Architects have just unveiled pictures of a new 21-storey residential stunner set to rise in the El Bulto area, and it's nothing short of architectural theatre. Sculptural waves of glass and concrete wrap skyward like a luxury yacht caught mid-sail - and each floor is a fluid ripple of balconies, soft lines and seamless design. Perched along the sparkling Mediterranean coast and right beside Malaga’s busy marina, the new tower is part of a wider regeneration scheme. From the renders alone, it’s clear the project is going for a bold aesthetic statement. The tower’s sleek, undulating façade plays with light and shadow throughout the day, blending a futuristic edge with soft organic curves. Floor-to-ceiling glass ensures that views of the marina and coastline are uninterrupted and truly panoramic. The development promises 153 high-end residen-
EXPAT homeowners are being urged to review their mortgages as more people switch their loans to different banks. The trend has taken hold as lenders are offering increasingly attractive deals following eight consecutive interest rate cuts by the European Central Bank over the past year. Moving your mortgage - known as ‘subrogacion’ in Spain - rose to 4.5% of all new mortgage operations in the second quarter of 2025. This is the first increase since late 2023, according to data from idealista/ hipotecas. The surge comes as the ECB has driven eurozone interest rates down to just 2%, prompting Spanish banks to offer increasingly attractive fixedrate mortgages.
ces alongside 80 subsidised homes for long-term local residents - bringing a balance of luxury and community to what was once an industrial pocket of the city. The streetscape at ground level is equally considered. Cafes and shops spill out beneath dramatic white overhangs, while landscaped courtyards and public plazas invite both residents and locals to mingle. Think balmy evenings under golden lighting, palm trees swaying, and diners clinking glasses on sleek terraces nestled between sculptural forms. In true Hadid fashion, it’s all high-concept fluidity and no harsh angles. Interiors haven’t been fully revealed, but expect ultra-modern minimalism paired with elegant natural finishes, all tuned to the rhythm of the coast. With the addition of this showpiece, Malaga is fast becoming a design destination to rival Barcelona proof that even a once-grim industrial zone can be reimagined with vision, investment, and a whole lot of architectural swagger.
MAKE THE MOVE Expats in Spain advised they could save money by reviewing their mortgages as bank switching trend rises thanks to interest rate cuts By Walter Finch
Several lenders are now offering deals at around 2.5% with maximum bonuses, with some operations being signed at close to 2% or even below. Switching will undoubtedly reduce monthly payments and provide greater stability.
“After the wave of mortgage changes in 2022 and 2023 caused by soaring Euribor rates, there are now excellent fixed and mixed-rate conditions being offered,” said Juan Villen, at Idealista. “Banks are even actively encouraging those with variable mortgages, as well as some who signed fixedrate deals at higher levels, to review their mortgages.”
The trend has seen fixed-rate mortgages dominate the market, accounting for 80% of all new home loans - a historic high. Among those moving their mortgages to new banks, 75% are opting for fixed-rate deals, the highest level since early 2022. Madrid leads the charge in requests to move mortgages to new banks, representing 26.7% of all applications nationwide, followed by Catalunya at 22.8% and Andalucia at 14.2% - key expat property markets. Those seeking to move their mortgage
in Madrid have an average monthly income of €4,600, well above the average nationally of €3,900, while the average amount requested for the bank transfer stands at €288,000 in the capital. The data suggests expat homeowners could save significant money by reviewing their current mortgage arrangements. However, experts don’t expect bank-switching activity to return to the record levels of autumn 2023, when it peaked at over 16% of all operations.