Kristina Szekelys Puerto Banus Office Closed

Kristina Szekely, one of the coasts longest lasting agencies, has closed the doors to it’s flagship office in Puerto Banus.

The doors closed last Friday (Sept 2nd) amid rumours of unpaid staff, rent and other debts. I cannot confirm these rumours but I can confirm the office is closed.

This could be seen a few ways by other real-estate agencies in the area; either the business was run badly and the only reason for the closure is poor management or, and more likely, the coast is not seeing the increase in sales that they would like.

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8 thoughts on “Kristina Szekelys Puerto Banus Office Closed

  1. john walsh

    I have seen the new Engel and Volkers office a bit further down the road seem to be doing well. While most are closing those guys have just expanded. What is the truth about the market at the moment? Someone please tell me? Is now the right time to buy?

  2. Well, there are a few agencies expanding at the moment and as many closing down. This has been the trend since the crisis began. When the crisis first hit a dozen or so big agents closed their doors very quickly – there were staff protests on the street! Many closed because they had been living on debt and suddenly the banks wanted it all back. Others closed because there simply wasn’t enough clients. Fewer agencies are biting the dust now but we still see the occasional casualty.

    Properties are priced much lower than they were – some say as much as 50% less than 5 years ago. However, it’s mainly cash-buyers that are profiting from these reductions as the Spanish banks are still reluctant to lend.

    So if you have money burning a hole in your bank account I would say yes, now is a good time for you to buy. The Spanish government recently dropped IVA (Spanish VAT) on new build properties from 8% to 4% so that will also help you. If you look around you may find some agencies even offering to pay that 4% for you. Couple that with discounts, repossessions and generally lower prices and you could surely pick up a bargain

    However, if you are thinking of taking finance on a property then beware – the Spanish banks have been accused of “marking up” properties to help them recoup the money they lose from offering more favourable finance deals. For example, it has been suggested that a bank with a property valued at 100,000 would offer it for sale at 140,000. The extra 40,000 covering their fees for offering 100% mortgage.

  3. Anonymous

    I’d like to confirm the rumour about unpaid staff at Kristina Szekely Sotheby’s International Realty.

    It all started 4 years ago missing out on paying some commissions & salaries, promising she would make it up, you could trust her and count on her. Today Kristina Szekely refuses to pay commissions and pays 500€ salary every 3 months if you are lucky.

    Many of her employees find themselves today in miserable situations with empty accounts, empty fridges, unpaid car insurance, broken unsafe cars, unpaid mortgages & rent, unpaid bills, debts everywhere…

    Their kids have to go to school without the books required, can’t join the class on school trips and much more. Over these 4 years they had to use their savings and don’t have anything left. They (and their families) will be homeless if justice doesn’t arise soon!

    This is the price you pay working hard & over hours for Kristina Szekely Sotheby’s International Realty and being loyal to this thief. Some for shorter periods but others over 20 years!!!!
    Kristina Szekely keeps on saying to her employees that there is no money, that they have to be patient. But how do you explain the fancy new car Kristina Szekely bought a few weeks ago, the party she organized for over 100 people, the cost of her personal trainer & beauty sessions and the fact Kristina Szekely continues travelling? Is she hiding her money in different countries maybe? Or does she use different names, persons, companies to hide her money? God may know!

    Indeed, the Puerto Banús office is closed, now Kristina Szekely’s employees have to sit on each other’s laps in small & old offices with no water supply or toilets. Lots of them suffer illnesses due to chronic stress and too many financial worries caused by Kristina Szekely refusing to pay her employees.

    It’s sad to see all these desperate employees (and their families) of Kristina Szekely still working hard, believing in lies. They have no other option rather than to stay there, she owes them too much money to just leave, they don’t have money to pay a lawyer and Kristina Szekely won’t fire them. Kristina Szekely keeps on saying: “If you are not happy anymore, you are free to leave the company.”

    We can probably say Kristina Szekely planned all this very carefully since the crisis started 4 years ago, as the only thing counting for her is her own wellbeing, fame and image. Kristina Szekely just won’t admit her failure & bad management of her company (lies???).

    Well Kristina Szekely:
    “Do you think all this helps to keep your image and fame going?”
    “Hopefully you can still sleep at night, have fun, smile all day long, and enjoy nice meals because your employees can’t!”

    1. Liz

      You just said the word: image. The company image will be your best tool to defend your rights. The most important for this company at the moment is to keep the company image unstained, so anything you do against that will give you extra power. You have just made the first step and I think you should continue making the situation public. I had to deal with one of those companies a few years ago and they get their strenght from the silence of their employees who think that the company is more powerful than them and that it will be useless to try to fight them. In my case, I think I proved them wrong. I stood up to defend my rights, it wasn’t easy and it took over 1 year but I received what I was legally owed for 12 years hard work. I think I was the first employee to actually take them to court but I was the first of a long list who followed my steps. So, don’t hesitate, be strong and go for it!!!! it’s the right thing to do! Good Luck!

  4. Anonymous – Thank you for your comments. It’s a shame it has to come to this. Obviously I can’t confirm anything said in your post but I am not at all surprised as this isn’t the first time something like this has happened here. I’m sure most people here remember Inter Realty and the staff protests – for those who don’t know, Inter Realty didn’t pay staff for a long time and the staff took matters into their own hands by protesting on the street outside their office.

    In the interests of impartiality I have published your comments un-edited and have requested a response from Kristina Szekely.

  5. ServitSpain

    Estimados clientes y amigos,

    una breve nota para informaros de que nuestra oficina situada en Edificio Benabola, ha sido cerrada al público. Kristina Szekely Sotheby´s International Realty© les seguirá atendiendo en sus dos oficinas dentro de Puerto Banús.

    • C/ Ribera , edificio OPQ, local nº 8
    • Muelle Ribera, casa I, local nº 61

    Así mismo, seguimos teniendo nuestras oficinas situadas en:

    • Madrid, C/ Diego de León, nº 36, Tel.: +34 915638300
    • Sotogrande, Plaza del Agua, edificio D, local 1-2, Tel.: +34 956790490
    • Gibraltar, Ocean Village Promenade 34-36, Tel.: +35020074646

    En otro orden de noticias, queremos compartir con vosotros el lanzamiento de nuestra nueva página web. Estamos seguros que tanto el diseño como su manejo serán del agrado de todos.

    Queremos agradecer la paciencia y amabilidad con la que nos habéis apoyado en estos meses de transición.

    Recibid un afectuoso abrazo,

    Kristina Szekely Sotheby´s International Realty©

  6. ServitSpain

    Dear Clients and friends,

    Just a brief note to inform you that our main office in Edificio Benabola is now closed and that we will continue to offer our services in our two offices in Puerto Banus,

    • C/ Ribera, Edificio OPQ, Local 8
    • Muelle Ribera, casa I, local 61

    Our offices in Madrid, Sotogrande and Gibraltar are open and operating as before, being their addresses,

    • Madrid, C/Diego de León 36, Tel.: +34 915638300
    • Sotogrande, Plaza del Agua, edificio D, local 1-2, Tel.: +34 956 790490
    • Gibraltar, Ocean Village Promenade 34-36, Tel.: +350 20074646

    We would like to take this opportunity to announce the launch of our new web site. We are sure that you will enjoy the new design and friendly use.

    We are extremely grateful for your patience and support during the past few months when all the changes have taken place and during which we could not offer you the service with the quality you deserve.

    Very best regards,

    Kristina Szekely Sotheby’s International Realty©

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