Being one of the most exclusive areas of Spain, Marbella has a high-end property market with rising interest of overseas property purchasers. Although it had its share of anxiety during the recent financial meltdown after September 2008, as in case of Spain and the rest of the world, the local market is recovering well with the renew in tourist inflow and investment in infrastructure development and improved public service.

Marbella has been regarded as Europe’s most popular destination and one of preferred places among Britons. Years on, British residents love to make it their second home to live a luxury and relaxed life with over 320 days a year of warmth and sunshine. There has been always demand for well placed villas and apartments with exotic gardens, swimming pool along the Costa del Sol.

Besides, overseas travellers are also taking interest in investing on Spanish property market and especially in this Spain’s most important resort city. During 2004, the “off plan” property market in Marbella was in its peak with growing demand for rent and increasing number of expats into the city. In the last two to three years, prices have gone down from their peak values but still impressive for prospective investors.

At present, both buyers who want a better bargain and sellers who are ready to sell at a prices achieved between 2002 and 2004 have further facilitate the market recovery. However, it is the laid back life and lavishness attached that attracts wealthy individuals from all around the world to buy property in Marbella.

Of course, there are not a large number of villas or restaurants in some of the best areas available for sale but one can still find some nicest properties in immediate vicinity such as Nueva Andalucía and Puerto Banús. It is also very much likely that Marbella property market will grow stronger than the overall national rate, considering the increasing number of people living in off-season.

The rising number of floating population in terms of tourist gives huge boost to the local rental market. But considering the past few years when the number of foreigners, including UK, has taken up residency, it’s clear that property purchase in Costa del Sol has certainly increased. Furthermore, better public service initiative and infrastructure development by the local government will no doubt enhance the demand.

With a positive outlook, the market is expected to return to normalcy very soon with new property developments and increase in the volume of sales. This will then encourage price rise and great prospect for long-term profit both in case of new and resale property.

I was just sent an email by Casa Marbella with this interesting subject.

“Dear All, if you are British and a non-Spanish Resident who sold his Spanish property between 1997 and 31st December 2006 than the attached article will be of great interest to you. Kind regards, Casa Marbella Team”

I was then invited to view a pdf file which was a clipping from the Sunday Times dated November 22, 2009

For more information, call Casamarbella on SAN PEDRO MAIN OFFICE – TEL (+34) 952 799 643 ELVIRIA OFFICE – TEL (+34) 952 839 630 or visit www.casamarbella.com

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There are a range of accommodation options and selection of holiday homes for rent available in Marbella, located in the province of Malaga. Most of travellers prefer cottages, apartments, villas and rural country houses for a holiday package to this coastal resort. However, the sumptuously established villas in the Old Town and other areas of Costa del Sol offer a charm of its own – ensuring a great holiday experience in this part of world.

Many privately owned luxury villas are available for holiday and vacation rental, and some of them are even placed next to any golf course or attractive sandy beach, making it a quite comfortable stay amidst a host of world-class facilities and services. Marbella boasts a wide selection of rental villas of which some are located in the coastal town, those provide a good option of sightseeing and travel around.

Right from the design and location to the facilities inside, a villa in Marbella is nothing but well-appointed apartment built with an ancient or medieval feeling while equipped with all modern urban amenities for a relaxing holiday. The weather of this coastal resort, i.e. mild and pleasant, further makes it the right place to find some of the best villas, where neither summer nor winter is harsh enough to drive away the inbound tourists.

In fact, all year long, villas in Marbella attracts holidaymakers for its ample accommodation multiple bedrooms, Jacuzzi, bars, restaurants, and everything that is essential for a luxury living. Why live in a five star hotel or an expensive apartment when you have the option of living in a marvellous villa which guarantees an ideal holiday retreat? These days, the affluent tourists also like to rent stunning villas as those comprise marvellous tourist spots in their vicinity.

Almost all villas in Marbella offer easy access to some exotic beaches or golf courses which are two of the prime attractions of Marbella. A beachside villa in Marbella offers great sea views from its outside terraces, and keeps its guests or tenants busy in a range of recreational activities such as pool, billiard and various other indoor sports facilities for entertainment.

In some villas, you will find separate outdoor pools for children and adult; the gardens and areas around pool are nice places for chilling out and relaxing while enjoying a choice of room amenities and appliances. However, the best part of villas in Marbella or Costa del Sol is its places of interest within the region. A short walk from most of the villas can either guide you to some of Marbella’s historic monuments, local markets, and traditional eateries or to a coastal village where you can sense a true Andalucían lifestyle.

If you desire to stay in one of the most luxurious Marbella villas, during a family or group vacation, all authentic information can be obtained from a dedicated website where you can even book your stay in one for the highest level of comfort. Now, villas in Costa del Sol play an important part in the tourism industry of Spain and considering the business prospect; it too holds a sizeable fraction in Spanish property market.

A news report published by The Observer dated October 18, 2009 revealed an alarming fact on the Marbella property market citing an already declared illegal property still on sale. The development adjacent to Banana Beach, just three-minute walk from Marbella town centre, has been declared unlawful under the new Marbella Town Planning (PGOU).

This is certainly distressing for many buyers who were to book their homes in that beachfront property in the Costa del Sol resort town. After the approval of Plan General de Ordenación Urbana in July this year, the said development has not been granted alternative license and directed for demolition. Despite this, advertisements for flats at Banana Beach are still on display in some estate websites.

The report has quoted the name of some websites where one can still find ads for Costa del Sol apartments consisting of 1, 2, 3 and 4 bedrooms. It is to be noted that a review was conducted by the administration but no further planning permission was granted. Moreover, there is no information about the latest ruling in those websites.

Although Mayour Angeles Muñoz has granted retrospective planning arrangement for almost 18,000 “illegal” homes under the PGOU, this particular building has been ordered for demolition, probably by next year. One of the reasons may be that, Banana Beach which came into existence in 1998 already violates one law which prevents homes close to coast and the development is just 100 metres from the beach.

Many Britons who have homes at Banana Beach or some other areas in Marbella are facing the wrath of this new urban planning law. The authority has also not announced any specific compensation plan; it was in fact the result of corrupt government officials, indulged in many scams and fraudulent activities that almost ruined the Spanish property market.

Marbella Mayor, while approving the new law, has promised for strict action on any unlawful act but this report shows that, there is lot to be done. Even after almost a week of the original report published, websites like spanishpropertyworld.com and esmoz.com are yet to remove those ads featuring property starting from €259,888.

Planning irregularities and the uncertainty in legal terms have already disheartened many buyers during a time in which the market is yet to recover from the global economic meltdown. And things like this will do no good to the overall growth of Spanish property market and the impression that the country is indeed one of the favorites of foreigners, when it comes to second home or retirement.

Original report: Observer.co.uk

The 2009 Marbella Property Market Report

An up-to-date report on how the worldwide economic crisis is affecting
the property market in Spain’s most important resort city.

By Christopher Clover, owner and Managing Director of Panorama, Marbella’s longest established Real Estate Agency

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