Marbella property sales on the rise as the Costa del Sol continues to thrive
Marbella property sales on the rise as the Costa del Sol continues to thrive
Marbella property sales are once again on the rise. The Costa del Sol real estate market has continued to thrive over the past year with over 70% of new developments in Marbella selling out within months.
Apartments, town houses and villas for sale in Marbella have received more offers in 2016 than at any time in the past 3 years and with many prices matching those of 2004, many investors see now as the perfect time to buy.
Just a 2 hour plane ride from London, Marbella remains a favourite destination for Brits and other northern Europeans, boasting championship golf courses, stunning beaches, the history and culture of the Old Town and the glitz and glamour of Puerto Banus.
As more property investors concentrate on the Costa del Sol, property prices in Marbella are expected to start increasing rapidly in the coming years, resulting in higher investment returns.
Official Spanish government figures reveal that a record 9.6 million tourists arrived in July, 2016 alone, with about one in four coming from Britain. The Costa del Sol region and Marbella in particular has seen one of the biggest increases in tourist numbers.
Whether you are looking for a resale apartment or a villa in a new development on the Costa del Sol, Marbella offers some of the most desirable real estate in Europe. The rental market in Marbella is also thriving and in many areas east and west of the town centre, buyers can achieve a rental income for 12 months of the year.
Marbella properties in Nagueles, just east of Marbella, Elviria and Puerto Cabopino continue to sell well, thanks to their amenities and facilities. Properties for sale in Marbella centre, and west of the town in Nueva Andalucia and San Pedro de Alcantara are attracting scores of second home buyers and investors who want to take advantage of the current prices. A steady market growth is forecast over the next 5 years.
Despite an increase in construction over the past 10 years, Marbella has retained much of its original charm. The charming restaurants, cobbled streets and quaint houses of the Old Town lay testament to this. A combination of old world charm, modern amenities and a sound infrastructure, Marbella’s attractions are famous throughout the world and continue to welcome more visitors each year.
Another ‘feather’ in Marbella’s ‘cap’ will be the redevelopment of La Bajadilla port. The town’s port authority (APPA) are now in talks with an infrastructure investment fund, an investor in the UK and another in the Middle East.
The project is expected to create 3,000 jobs and be a major economic boost for Marbella, which in turn is likely to attract property buyers from all over the world.
With an influx of buyers and investors from further afield, including Russia and the Middle East, Marbella and the Costa del Sol are not only on the road to recover but are, once again set to boom!