Marbella the perfect property location.
Spanish investors looking for a retirement nest egg are starting to drive a recovery in the domestic property market. But as always, when it comes to real estate, the mantra is location, location, location, and the good news for the Costa del Sol property market is that the region, with Marbella, the Golden Mile and Puerto Banús leading the way, scores highly in that commodity. According to a survey undertaken by a Spanish website, ten per cent of all private property investors in Spain are looking specifically for a seaside location. But that’s not all, as they are taking advantage of prices still well below their peak to find the perfect spot for their second home, and also want proximity to shopping facilities, medical services and good public transport. Seafront property Driving this renewed interest by small investors in seafront property is the traditional Spanish faith in bricks and mortar. It is something that people from many Northern European countries can relate to, with investment noticeably on the increase from the UK, France, Scandinavia and Germany, according to Spanish property registrars. Indeed, nearly one in eight property sales in the first quarter of the year were to non-Spanish, up nine per cent on the same period in 2014. Combined with a renewed willingness on the part of banks to grant mortgages, affordable prices and growing demand, the long term investment potential of property makes it an increasingly attractive proposition. The Costa del Sol and Marbella, with its developed infrastructure, full range of medical services, good air links, fantastic weather and glorious Mediterranean views, ticks all the boxes as far as investors are concerned. Add in the prospect of rental income either from tourists – the Costa del Sol is heading for a record breaking year with a huge influx of holidaymakers according to statistics from the National Institute of Statistics (INE) – or families looking to rent longer term, and the prognosis for the property market is looking good. At Altavista Property this renewed interest in second homes as an investment has been noticed, with homes in good locations particularly selling well. Click here to view a beach side complex next to the exclusive Don Carlos resort in Elviria, east of Marbella that has proven to be highly desirable.
