With property prices at a ten year low, all year round good weather and increasing tourism, just what is it that attracts people to Marbella?
Marbella means “beautiful sea” and this is plain to see from any beach on the Costa del Sol. With an average 320 days of sunshine each year it is hard to find a more consistent climate anywhere else in Europe, or maybe even the world.
Thanks to the surrounding mountains Marbella has its very own micro-climate which is one of the main reasons why so many people head south. Add to this the miles of sandy beaches, myriad of international restaurants, bars, sports activities and of course the views and Marbella seems like the only choice when looking to re-locate.
With property prices still dropping and some at ten year lows it is understandable that some agents are noticing an increase in sales. Maybe now is the right time to buy your Spanish property, before prices begin to rise once more.
Puerto Banus based Marbella For Sale say they have noticed their sales numbers climbing recently. Managing Director, Nicolas De Zutter, said “Many people come here for the lifestyle. It’s not always about making a profit on your property. With prices so low, and some still dropping, buyers feel they have waited long enough and are now ready to buy. For the private buyer Marbella’s cosmopolitan social scene is often the main attraction. Marbella is well known as a place to mix with the rich and famous”
He also told me that investors are returning to the market as prices have dropped to such levels that making a good return is now more likely. “Long term investors are returning to the market, many purchasing multiple units, which they will hold on to until prices start to climb”, he said.
Ángeles Muñoz, the Mayor of Marbella, recently announced plans to re-develop El Puerto de la Bajadilla, Marbella’s marina, with the help of a 400m Euro investment from Qatar. The plan is to extend the marina adding more berths but also to add commercial and residential areas creating yet another reason to come to Marbella and hopefully ensuring the tourism and real-estate markets remain buoyant for years to come.