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Prince’s Costa del Sol villa could be yours for just €5.3m

The late and great music star Prince’s former mansion on the Costa del Sol is still on the market years after being put up for sale.

Prince's Costa del Sol villa could be yours for just €5.3m
Left: Prince's former villa in Marbella (Engel & Völkers). Right: The late music icon Prince (KEVORK DJANSEZIAN / GETTY IMAGES NORTH AMERICA / AFP.

International real estate agency Engels & Völkers reported after the death of the great musical icon last week that his former home in Marbella, Andalusia is still up for sale years later.

The “completely renovated stunning villa” by the name of Adorna Tierra is on the market for a mere €5.3 million ($5.9 million), according to the agency.

A spokeswoman from Engel & Völkers Marbella West told The Local that there has been a bit more interest in the home since his death, from clients who know about its past with The Purple One, as well as those who don't. But the current owner isn't in that much of a hurry to sell.

“The current owner likes the location, likes the house, and likes the fact that it was connected to Prince,” the spokeswoman explained.

Photo: Engel & Völkers.

It was a performance in the Costa del Sol town that first enchanted the music legend with the area, the agency said.

“The flamboyant composer, who had given a concert in Marbella in 1990, was captivated by the charms of the Costa del Sol, where traffic jams were caused by Rolls Royce and Ferraris and the rivers were Bollinger and Dom Perignon,” the agency wrote in a blog post commemorating his death.

“He decided to do a wedding gift to his future wife, and it could be nothing more than a Palace. A Palace for a Princess, which can not be in another place, that is not a paradise. Prince located a perfect plot in an area called, precisely, El Paraíso. It sounds like a fairy tale, but Prince made it reality.”

The company's local spokeswoman told The Local that Prince bought the estate in 1998 as a wedding gift for his then wife, dancer Mayte Garcia, with whom he had a son who died shortly after birth of a rare genetic disorder known as Pfeiffer syndrome.

“The property served Prince at the time as a great source of inspiration for his artistic output. The villa still conveys this special creative charm to this day,” Engels & Völkers wrote in a listing.

Photo: Engel & Völkers.

The musician decorated the home with his signature style, including painting rooms in his favourite colour purple and inscribing a wardrobe of crystal, wood and gold with his trademark symbol, the company spokeswoman told The Local.

His former purple office is now a bedroom in the house, and the wardrobe still remains as well.

But Prince and Garcia divorced in 2000 and Garcia put the property up for sale in 2006.

After passing through another owner, the villa was put on the market once again two years ago for €5.6 million and has had no luck since in finding any takers.

This may be because of the artist's unique style of decoration, explained the Engel & Völkers spokeswoman.

“Right now the fashion is more contemporary and the home is more classical, but also very special, very 'Prince',” she said. “When he bought it, he gave it a touch of Prince.”

Photo: Engel & Völkers

The more than 7,500-square-foot mansion is nestled in the hills of El Paraiso, west of Marbella and “enjoys impressive sea, mountains, valley and golf views,” including “breathtaking panoramic views over the valley and sparkling blue Mediterranean Sea,” according to the listing.

It has six bedrooms and six marble bathrooms, a pool, tennis court, private drive and the estate encompasses 1.45 acres.

The sprawling home seems to cater well to fancy parties, as Engels & Völkers touts its grand entry way and extensive terraces, “perfect for those evening soirees”.

“Visitors are greeted with an enormous colonial style double staircase with white marble balustrades sweeping down to the grand, chandeliered entrance hall,” the agency states.

El Paraíso is home to many luxury residences and an 18-hole golf course, making it a haven for wealthy residents seeking privacy and an “ease of life”.

Photo: Engel & Völkers.

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PROPERTY

How does Spain’s new website to find cheap homes up for auction work?

Spain’s Tax Agency has created a new web page where you can find great bargains on properties sold at auction. Here’s what you need to know.

How does Spain's new website to find cheap homes up for auction work?

If you’re looking for a property to buy in Spain, one option you may want to consider is buying a home at auction, where you will often pay below the market value.

In Spain, the Agencia Tributaria or Tax Agency owns many properties, most of which have been repossessed or seized due to outstanding debt.

Many of these properties are put up for auction, enabling you to get some great bargains. Up until now, it has been difficult to find out when these auctions are held and the details of the homes being sold, but recently the Agencia Tributaria launched a new web page providing all this information.

The page provides details on all the properties in all the different provinces across the country and is dedicated to the sale of homes, garages, plots of land and commercial spaces with prices from just €20,000. You can access the site here

When you get to the page, simply click on the province that you’re interested in and you’ll find a list of all the properties to be sold at auction there, including photos, information on the size and number of rooms, a description, and a guide price.

The site will also give you financial information such as the minimum bid amount, the auction value and an appraisal of the property.

When you find some properties that you’re interested in, you can go and log-in with your [email protected] PIN to save them to your favourites list and receive notifications to your phone about the date of the auction.

READ ALSO: How to save lots of time on official matters through Spain’s online [email protected] system

According to property giant Idealista in order to place a bid, you must pay 5 percent of the starting price and when the auction is over, if you are the highest bidder, you will have to pay the remaining amount within a particular time frame. You can pay this in cash or through a mortgage. 

Be aware that you may also have to pay several fees, as well as the price of the property such as the Patrimonial Transfer Tax and Tax on Documented Legal Acts. 

If you register on the Auction Portal with your digital certificate or a username and password, you will also be able to see the bids that have already been made on the home, as well as the cadastral reference. You may also be able to place provisional bids ahead of time.

For those who are unsure of how the auction process works in Spain or are nervous about going to their first auction, the Tax Agency website also details all the auction and bidding procedures. For any other information that you can’t find online, you can call 91 598 63 34.

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