Marbella has retained its crown as the one of the most popular places to visit on earth. Remarkably throughout the one of the worst recessions to hit Spain in modern history, the area’s property market remained buoyant amongst buyers looking to snap up the scarce supply of prime Marbella property at extremely reasonable prices.
Now that the Spanish economy is seeing the green shoots of growth, it is having a knock-on effect not only for luxury Marbella property for sale but also other areas on the Costa del Sol. New homes are once again under construction to catch up with the rising demand. Developers and individual investors seem to have suddenly come to life and are now actively seeking land in the hotspots on the Costa del Sol to undertake residential construction projects.
Christopher Juvkam of Perfect Marbella explains, “Marbella has a limited number of a prime properties for sale, therefore demand is constant. More and more investors are seeing Marbella land as a shrewd investment. Agents have seen increases of up to 65% of clients registering land in Spain compared with the same period last year. The interest has been piqued by the recent increase in Spanish land prices which had dropped considerably over the last few years, but saw a substantial rise of 5.2% in the first quarter of 2014.”
However, it isn’t only professional property developers who are keen to snap up the land, international buyers from the UK are taking advantage of the extremely favourable Euro to Sterling exchange rate, along with other Northern European countries including Scandinavia, Germany and Russia, are keen to secure a prime plot where they can realise their dreams of owning a bespoke luxury a villa in Marbella and the neighbouring areas on the Costa del Sol. The trend is also encouraged by the relatively low construction costs and local government investment such as the new boardwalk.
Of course any investor or buyer looking for a lifestyle property, be it a beachfront apartment, penthouse in Puerto Banus or a contemporary villa on the Costa del Sol, understands that a prime location like Marbella will always be a good investment. After all where else can you find 27kms of beaches, 40 golf courses, Michel star chefs, 5-star hotels like the Marbella Club, world famous nightlife venues such as the Cavalli Club, famous marinas and designer boutiques, plus an international airport providing easy access from anywhere in the world.
If you would like assistance locating land for sale on the Costa del Sol or sourcing your dream beachfront Marbella villa whilst the exchange rate is so favourable, contact Christopher Juvkam at Perfect Marbella for more information.