The presence of Costa del Sol and Andalusian media, tourism and government representatives increased the region’s exposure on the English market; particularly with the mayor of Malaga, Francisco de la Torre. Indeed, tourism professionals and journalists from a variety of publications such as the BBC and the Forbes magazine discussed the region’s assets. As a result, during that week over a dozen magazines and newspapers talked to the whole of England about the Spanish Côte d’Azur. This extensive press coverage clearly increased Andalucía’s visibility and will surely awaken the curious investors to look at property prices for apartments in Puerto Banus or villas in Marbella.
Following the World Travel Market that took place in London last week, many positive outlooks were collected by the Spanish journal – SUR – concerning southern Spain. 2014 was said to have been an « amazing » year for the Spanish Confederation of Hotels and Tourist Accommodation (CEHAT) but that 2015 was looking even more promising. Indeed this trend was confirmed by the Airline industry’s numbers; from January to September 220,000 passengers were flown into Andalucía with a 10% increase for the Costa del Sol alone. With more tourists visiting the region, interest for Marbella property is growing.
The much-awaited avant-garde boulevard San Pedro Alcantara is nearing completion. Now that 99% of the project is over it is time for the perfect finishes and space allocation for terrace cafés. This added value to the city’s assets is expected to stimulate the local economy and Marbella property should once more reap the benefits of yet another improvement project.
The Spanish bank Unicaja published a recent study stating that Andalucia’s economy will grow by 2% in 2015. This upturn will be experienced across many sectors, starting with the services sector (1.9%) – the region’s cash driver – moving on to the construction (2.3%) and then industrial sector (3.5%). Thus as the GDP grows, prices on property in Marbella, Nueva Andalucia and other cities will start recovering. It is sure that investors will benefit from this trend.
Marbella’s city council continues to heavily invest to, as they say, “offer quality infrastructures to the tourists and residents” of the city. Grossly 1,000 euros per single meter, or a total of 2 million euros, will be spent to extend the beachfront promenade. The Paseo Maritimo will be stretched over 10 km from Guadalmina all the way to the El Cable Beach. This shows once more how much the city is evolving ever so fast and how promising the Marbella property market is bound to be.
The ministry of the environment and the Marbella council have resurrected the 14-year-old project to recover and improve the Artola Dunes and the beaches they shape. To protect the dunes and its wildlife, designated pathways will be paved, wooden balustrades built and a parking area established. This rebirth of the project shows two things: firstly that the province of Malaga has now enough time and money to take care of these types of issues; secondly that the tourism market is important enough to motivate such an initiative. As a result, this further improvement of living standards will increase Marbella property values.
Marbella’s Bajadilla port has for long grown in Puerto Banus’s shadow but the Qatari-financed enlargement project should turn the tables around. The Blue Bay hotel group will erect a five-star hotel that will overlook the marina. Tourists, yachters and cruisers from around the globe will be welcomed to wine, dine and shop in luxury. We can most definitely consider that this project will boost Marbella property values very rapidly.
Six years after the global economic crisis Spanish property markets are finally making a comeback. Prices have increased for the first time since 2008 with communities like Madrid, Catalonia and Andalucía respectfully witnessing boosts of 2.7%, 1.6% and 0.7%. Nevertheless some regions are still experiencing difficulties to climb on board this trend, such as Extremadura (-3.5%), La Rioja (-1.7%) or the Canary Islands (-0.2%).
Overall this is the beginning of positive returns for Investors who have already purchased property highly sought-after like Marbella villas or apartments in Puerto Banus.
Puerto Banús, a paradise of luxury and the stars’ meeting place : Julio Iglesias, Grace Kelly or Frank Sinatra. Puerto banus is the fourth most luxurious port in the world where McLarens and Lamborghinis are common sites, as well as the most prestigious yachts in the world, such as the Russian millionaire’s Andrei Melnichenco. But despite this, the prices of restaurants are so much more attractive than in France or England. Thus, stroll on the docks or admire the view from you apartment in Puerto Banus ; a dream within reach that won’t ruin you.
Marbella – and it’s region – continues to confirm it’s dominant position as it drives tourism in Spain and attracts an ever more wealthy population. The ministry of industry, energy and tourism has published a study revealing that Andalucía – Marbella in particular – has experienced an important increase in tourist expenditure ; 16.3% compared to June of last year. With this new increase the region attracts 15.5% of total spending by foreign tourists on the Spanish territory. The region is surfing this trend and is now to be marketed abroad as the Spanish Côte d’Azur. With all this, the interest can only be expected to grow for property in Marbella’s hilltops or apartments in Puerto Banus with frontline marina views.