More positive indicators for the Costa del Sol

Marbella is not the only large town to be influenced by the huge influx of tourists in 2014. With an estimated 10 billion euros being created in 2014 across Andalucia other councils are also making improvements which is great news for the construction industry.

The influx of tourism to Marbella this year has been so impressive that the town has been added to the small list of areas that is permitted to now start opening shops on Sundays, which is not only great news for the local residents but also for tourists.

In light of the pending local elections which are less than a year away now, one of the most eagerly anticipated projects of this year is due to start after the Summer in Estepona. The so-called Grand Boulevard is a major project which will transform Estepona and the surrounding area and will consist of a new shopping centre, more tourism related attractions and a new recreational centre. This privately funded project has a price tag of 30 million Euros, with the local council also financing a multi-millon euro botanical park boasting the biggest orchid collection in Europe.

Elsewhere on the Costa del Sol there is due to be other development of museums, tourist attractions, theatres, and infrastructure in Velez Malaga, Malaga City, Benalmádena, Mijas (old town), Rincón de la Victoria, Alharurin del Grande, Cartama and Fuengirola. Not only will all of the projects across all of these areas on the Costa del Sol bring in more tourists, but it will boost the economy and reduce unemployment greatly.

Costa del Sol leading the way for Property Recovery

A recent study has provided evidence that there has been an increase in house prices in Marbella and Manilva. Off-plan new developments seem to have reached their minimum prices and indications are now showing a rise due to foreigners.

Two areas in Spain are showing definite signs of property recovery, Costa del Sol and Costa Blanca. The study that was undertaken gathered information from 60 coastal regions of Southern Spain and demonstrated due to financial establishments lowering prices that property was now selling faster.

Its still early days in respect of the Spanish construction industry however areas in the Costa del Sol and Costa Blanca are showing very positive signs. New constructions in the Estepona and Marbella area, which have been built with the foreign market in mind are building good interest.

The general consensus is that property prices are now slowing however this is only in certain areas of Southern Spain. Prices on the Costa del Sol for example have dropped to their lowest averaging a 1.1% drop in the first quarter of 2013 and 2014.

It is thought that property sales may increase as much as 25% this year in Marbella due to demand by foreigners.

Taylor Wimpey´s New Apartments Horizon Beach La Galera

AWARD WINNING UK property developer Taylor Wimpey is launching a fresh £10 million project on the Costa del Sol this month.

The La Galera development, in Estepona, is going to consist of thirty six luxury homes and is due to be formally launched with an opening on April 30th. Taylor Wimpey has constructed over two, 500 homes in España over the last fifteen years, as well as Los Arqueros Golf, in near  Benahavis.

“Estepona is a perfect location for further investment,” stated Ignacio Oslé, regional director in Andalucia. “We want to thank Estepona town hall for their support in getting planning permission last October.”

New expat residents association launches in Estepona

AN EXPAT residents association has been launched in Estepona, which will fight the corner of the town’s large number of foreign residents.

The Associacion de Residentes Extranjeros de Municipio de Estepona (AREME) will speak on behalf of its members with public institutions, with the aim of improving services and provisions in Estepona.

It already boasts one coup, successfully reinstating the local bus service.

Russian Meeting Point gets under way

The “Russian Meeting Point” opened yesterday in a bid to boost the sale of Spanish coastal property to Russian investors.

This years event is being held at the Hotel Villa Padierna and so far has attracted large numbers of investors and property agents, all here to find investment opportunities on the Costa del Sol. The main focus of the group is the so-called “Golden Triangle” which includes Marbella, Estepona and Benahavis. However, other areas are also being marketed at the event including the Canary Islands, Balearic Islands, Alicante and Andalucía. The three-day event will close tomorrow (Friday).

Ángeles Muñoz, Mayor of Marbella, visited the event on Thursday morning accompanied by Enrique Lacalle, the president of the organizing committee, and the President of the Andalusian Federation of Developers and Residential Tourism, Ricardo Arranz.

Muñoz attended the event to see first-hand the level of interest from various investors and property agents for the Spanish property market and, more specifically, that of the Costa del Sol.

Many of the exhibitors have already expressed their satisfaction with the volume of contacts made at the exclusive real-estate forum.

Sr. Lacalle thanked the exhibitors for their attendance and is convinced that the event will prove to be profitable for all involved.

David Scheffler, Director of Expansion of Engel & Völkers, said “This initiative is a great opportunity for the Spanish real estate sector in general and particularly for us, so we could not pass up this opportunity. At The Russian Meeting Point we are presenting over 6,000 real estate properties to potential buyers from Russia. ”

The event also included talks presented by some of Spain’s business leaders. One such talk, entitled “What the Russians want to know before buying a property: How to get a mortgage in Spain.” was given by Alberto Pulido, Director of Business Mortgages in Spain’s Banco Santander.

There will be further talks on Friday including “Managing visas and residence permits” which will be presented by the National Association of Developers.

This is the second edition of the Meeting Point and will be followed by a third which will take place in Barcelona in October at the Fira de Barcelona.

Russian investors invited to ‘Golden Triangle’

The towns of Benahavis, Estepona and Marbella, together known as the ‘Golden Triangle’, are inviting Russian investors to help reduce the stock of property for sale on the coast.

‘The Russian Meeting Point – Marbella’ will be held at Hotel Villa Padierna between March 14th and 16th and will see representatives of the Spanish real-estate sector meet with Russian investors.

The initiative seeks to present all of the properties for sale in those areas with significant discounts on the original price. The meeting will have an area of ​​approximately 1,000 sq/ft to promote contacts and trade between marketers, Spanish development and construction companies and other professional investors.

The organisers of the meeting said “We have the support of major Russian real estate associations that will present a significant presence of investors interested in buying Spanish property, or promoting it in the Russian market, one of the most powerful in Europe, and generate more interest in Spanish real estate, especially in the ‘Golden Triangle’. ”

The warm reception received by Russian investors in the last edition of “Barcelona Meeting Point” led to the sale of luxury homes on the Costa del Sol, thanks in part to an influx of buyers from the East, and also led to the organising of this event.

Ricardo Arranz, current president of the Andalusian Federation of Developers and Residential Tourism recently said that luxury homes valued between four and 10 million euros are being purchased mainly by buyers from Saudi Arabia, U.A.E. and Russia.

‘The Russian Meeting Point – Marbella’ comes with great expectations for the sale of both luxury properties and other stock due to the heavy discounting currently available.

More information is available on the official website: Marbella Meeting Point 2012

Over 50’s show in 5th year

The Over 50 Show

This month Estepona is to host The Over 50’s Show, the lifestyle event for the Costa del Sol’s senior community, for the fifth successive year. Over 7,000 people visited the show in 2010 and the organisers are hoping for even more in 2011.

The event organisers say the event will feature the usual attractions that have previously proved to be “phenomenally successful”. There will also be some new attractions including indoor bowling and Bridge lessons, wine tasting, fashion shows and live music.

The Over 50s Show is the only event of its type on the coast and has “gone from strength to strength despite the severe economic downturn”.

The show will be held at the Palacio de Congressos in Estepona, on Saturday 26th and Sunday 27th of November. Doors open at 11am and close at 6pm.

For more information or to reserve your stand, contact the organisers via email at des@slp.ie or john@slp.ie or via phone on +34 902 003 896.

Estepona admits planning backlog

Officials from Estepona town hall have admitted to having a backlog of planning investigations.

More than 3,200 cases are waiting to be processed, officials said. The situation was described by Councillor Susana Arahuetes as “very serious”. She blames the problem on the “total paralysis” of the department over recent years.

Arahuetes added that many of the cases are have now passed the deadline set for the process to begin, although she has promised to reopen these cases.

The problems date back to the Astapa investigation of 2008, when former Estepona mayor Antonio Barrientos was arrested, along with several councillors.

Darkness on the AP-7

A stretch of the AP-7 motorway between Estepona and Fuengirola could soon be in darkness if the electricity bills are not paid soon. A 12 kilometre stretch in Estepona is already without light.

The Mayors of Fuengirola, Mijas, Marbella and Estepona sent letters to Sevillana Endesa indicating their desire to cancel the contract for lighting the sections of the motorway which run through their towns.

As the Ministry of Public Works owns the motorway the mayors believe the ministry should pay to light it. The cost of lighting the road has reached millions of euros for the past 20 years, money which comes from the municipal purse.

The Mayors are also demanding a rebate of the money paid so far to be paid back to them. Estimates put this figure at €11 million. The cost of lighting the Marbella stretch of the motorway is approx €219,000 per year.

In response the Ministry of Public Works said “we are not forced to light any motorway, although we can carry out a study and illuminate danger spots such as the entrance and exit to tunnels.” They went on to say that the town halls made their own decision to illuminate their sections of the motorway which is why the contracts were in their name.

There had been claims that the ministry had demanded the electricity be turned off, something which they strongly deny.

David Valdez, former socialist leader of the opposition party in Estepona, says the mayor, Jose Maria Garcia Urbano, has “acted irresponsibly” and his decision “can endanger road safety”. Valdez added that Urbano should have “attempted to reach an agreement with the ministry” before cancelling payments.

Meanwhile, the Mayor of Manilva, Antonia Muñoz, said he will continue to pay the towns electricity bills until Christmas. However, he is is worried about the section between Chullera and the Manilva River with multiple roundabouts and slip roads which “would be dangerous without lighting”.

Torremolinos and Benalmadena are not affected by the problem because lighting for the section which runs through the towns is paid by the company which runs the toll motorway.

6 Bed Villa For Sale in Estepona

Beautiful Rustic Villa For Sale in Estepona – Ref: MFSV374

Price: 1.475.000€

Fabulous rustic flour mill converted into a private hotel – restaurant set in a very peacefull suburban area located only 10 min drive to Town center and all amenities. This outstanding rustic finca dates back to the 19th centuryi, its original layout and has never been altered so therefore it still mantains that old Andalucian rustic style. Allthough the hotel licence has not been renewed it could be obtained inmediatley,ideal investment for those entrepreneurs wanting to start a new bussiness. Also it could be converted into a private home for all year round living, ideal for children and familiy life.

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Property For Sale in Marbella
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