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Caminito Del Rey to be extended

Caminito Del Rey to be extended

This was announced in provincial celebrations in Monda by the president of the Malaga provincial government. The well-known and breathtaking natural attraction in El Chorro near Ardales currently covers seven kilometres, including the “daredevil” gorge side path as well as the surrounding woodland.

The proposed extension estimated to be between 5.5 and seven kilometres long, will turn the walk into a circular route so it starts and finishes at the same point. At the moment, the current route is linear and one-way, so transport is required to get back to the starting point.

This tourist attraction is a real draw into the area with higher visitor numbers each year for those who love thrills and nature. Just one of the many reasons to visit Spain and come a little inland to discover some of the countries real treasures.

The Caminito Del Rey (or “King’s Pathway”) was originally built in 1901 as part of king Alfonso XIII’s ambitious hydroelectric energy project to unify three rivers. It was re-opened after refurbishment in 2015 and the new path is genuinely like few other places on earth. At its highest, it’s the closest you can come to feeling like an action hero.

The provincial authority recently met with the regional minister for the Environment, José Fiscal, and the local councils involved (Álora, Ardales, Valle de Abdalajís, Antequera, Pizarra and Campillos) to get the project off the ground.

It was explained that the new section of the route would include more raised walkways around the mountainside and take visitors through beautiful natural spaces that are not normally accessible to walkers.

There was no fixed timeline given and the project will be carried out as soon as possible, although it was pointed out that the new section would not be as complex as the first one to build.

If this is something you’d like to experience, booking in advance is required as only 600 walkers, all wearing hard hats, are allowed up on any one day.

Spanish property prices rising

Spanish property prices rising

Housing price data published recently shows that Spanish property prices rose faster than EU and Eurozone averages in 2017 according to the data from Eurostat the EU statistics bureau.

Average property prices in Spain rose by 7.2% last year, compared with 4.5% in the EU and 4.2% in the Eurozone. This shows the property slump is over making buying a Spanish property a good investment. With the range of off-plan developments now being constructed offering favourable payment terms, you can also be assured of getting a contemporary home that will have the benefit of a guarantee.

The highest increases in residential property prices elsewhere in Europe in the last quarter of 2017 occurred in Ireland (11.8%), Portugal (10.5%) and Slovenia (10.0%). Italy in contrast, reported the biggest decrease when prices fell by 0.3%.During the last quarter of 2017 property prices grew the most in Slovenia (3.7%), Croatia (3.2%) and Cyprus (2.7%), compared with the previous quarters data. The biggest quarter-on-quarter decreases were reported in Sweden (2.8%), Denmark (1.7%), Belgium (0.4%) and Finland (0.3%).

We have seen a strong start to this year here at Bromley Estates where the modern and contemporary developments whether apartments or villas prove to be popular as second homes. The Spanish property market had a strong start to the year with prices growing by 3.8% year-on-year in the first quarter of 2018 with Madrid reporting the most significant rise (17%), followed by Palma de Mallorca (14.7%), according to property valuation firm Tinsa.

According to the Instituto de Práctica Empresarial (IPE) house prices are forecast to grow across the country by an average figure of 6.1% this year meaning that whether you are looking to buy and rent out your property or just buy a second or third home – that property will be a real investment in a country with a fabulous climate that continues to draw in foreign visitors. Contact one of our team to see how we can help to choose the best location for the lifestyle you want.

Spanish property market improving

Spanish property market improving

The Spanish residential property sales figures for January this year show upward movement aiding the market’s recovery. 

We have noticed that in this region clients have an interest in buying off plan as some of these deals offer attractive terms in the form of payment structures. They also provide great location with contemporary style and in many cases great views and on site facilities.

Official government data shows a total of 47,289 residential property sales were recorded during the first month of the year. This represents a rise of 23.1% on January 2017 and the highest figure recorded since May 2008.

Spain and particularly the Costa del Sol has rarely failed in attracting foreign buyers due to its fabulous climate and wonderful outdoors lifestyle.

All of Spain’s 17 autonomous regions reported increased sales activity with the most significant occurring in Asturias (55.7%), Comunidad Valenciana (40.5%) and Murcia (39%).

Residential property sales in January were 60% higher than those recorded in January 2014 which is further confirmation that the Spanish property market is continuing to thrive while long term upward trends add further momentum to the recovery.

Property prices suitable for all budgets pull in investment and people looking for second homes whether that is a luxury villa or contemporary apartment. Here on the Costa del Sol there is literally a property to suit almost every buyers needs so contact us today to find out how we can help you find your dream home.

Why buy off plan?

Why buy off plan?

Off-plan property sales are booming on the Costa del Sol.

The developments in southern Spain now are being built by tried and trusted developers with experience of choosing the right spot for views, location, amenities and value. If you are a golf lover this could be on a golf course, or a beach front property. It is this level of expertise in creating a development in the heart of the action that will prompt an excellent return on investment if you choose to sell or rent your property.

Using state of the art design and well-known architects, many of the new developments springing up in Andalucia are intimate well-designed residences that feature the latest in technology and eco design. Often incorporating solar or green energy they will mean lower bills and a greener energy footprint.

As agents, we ourselves work with experienced developers on ‘Our Exclusives’ and find that when a prime development is released it can be reserved in days. This is because the developers offer attractive payment methods meaning you can spread payments from reservation up to completion. This staged payment is perfect for some buyers who may not need to get a mortgage.

What’s more buying into a development early means you will often be getting a discount on what the final built price will be. This also offers you the choice of the best apartments within the development so bagging a prime penthouse or ground floor apartment with garden is easier earlier on.

Buying off-plan almost always means you can personalise your property to suit. Many developers offer extras too like a Jacuzzi on the roof terrace or swimming pool which can be incorporated into your property as it is built. There may also be a chance to negotiate extras like a furniture pack or membership to the local golf club.

Buying off-plan means just like other countries, your property will be under guarantee so any snagging problems can be dealt with free. This is not the case buying any standard property.

If all this sounds appealing talk to one of our team today who will show you a fabulous range of off plan properties one of which may be your dream home in the sun.

Region enjoys one of its best years of property sales since 2008

Region enjoys one of its best years of property sales since 2008

The Malaga region has been a popular place for holidaymakers for many years so to buy here makes sense. In 2017 the province registered 30,300 sales which is a 14.6% increase on the year before. This shows the region had the second highest number of sales per inhabitant in the whole of Spain.
Almost 30% of these homes were purchased by overseas buyers, placing Malaga among the most attractive provinces for the foreign buyer.

The Malaga figure almost doubles the Spanish average, which is 8.6 sales per thousand inhabitants. With a fabulous climate and great outdoors lifestyle you can see what attracts buyers here. Attractively priced property as well as a good selection of property types means you are likely to find the home of your dreams.
Malaga had the fourth highest number of sales with 26,436, behind Madrid (69,966), Barcelona (53,773) and Alicante (34,631) and ahead of Valencia (26,437), Baleares (15,799), Sevilla (14,663), Murcia (13,386), Las Palmas (11,682) and Tenerife (11,604).

In the whole of Spain, a total of 464,223 purchases were registered last year, which equates to a rise of 14.9% over 2016. Transaction data, both nationally and in the case of Malaga, are the highest since 2008.
Second-hand housing, which includes those owned by banks, accounted for 81.5% of sales in Malaga (in Spain it was 82.6%). That said it will be interesting to see how the market changes with so many attractive off-plan deals available in new build developments.

Meanwhile, the data shows the foreign buyer continues to be a key player in the sector, mainly due to the attractiveness of the Costa del Sol.

In 2017, overseas buyers bought almost 9,000 homes in Malaga, representing 29.6% of total sales. The percentage is somewhat lower than in other years (between 2014 and 2016 it moved around 34%) due to the gradual return of the national buyer’s market, but it continues to show the province’s allure for visitors.
Whether you are looking for a modern family villa or a lock and leave apartment we have sea view, frontline beach and frontline golf properties available that will inspire and excite you. Contact one of our team today to talk through your property requirements.

Spain becomes second most-visited country in the world

Spain becomes second most-visited country in the world

5.1 million passengers welcomed by Malaga airport last year.

Latest figures show in 2017 Malaga was the second most popular airport in Spain, welcoming 5.1 million travellers, beaten only by Barcelona who received a staggering 10.3 million passengers.

Some 15.7 million visitors from the UK arrived in Spain on a budget airline between January and November 2017, a 10% increase on last year, making them the largest group of foreign visitors. Germany was the second largest group with 5 million visitors, followed by Italy with 4.9 million. It is not hard to see why tourism thrives in our Andalusian hotspot. Even with the collapse of Monarch other airlines like Jet2 are stepping up and increasing flights into Malaga and several other Spanish airports ensuring those numbers stay.

Spain is the second-most visited country, behind the USA, and relies heavily on international and local tourism. The tourist industry accounted for 11% of Spain’s GDP in 2016 and around one in eight jobs were tourism related. That doesn’t look likely to change as Spain invest in its infrastructure with new rail links and an extension to Malaga port to house more super yachts.

By the end of the third quarter, tourist numbers reached 75.3 million and according to John Kester, the director of statistics and trends at the United Nations world tourism organisation (UNWTO) tourist numbers are on track to be 10.5% higher than 2016.

The real draw to the Costa del Sol through the gateway of Malaga is of course the climate, where even in winter you can see temperatures of 20 degrees….perfect for a game of golf, a walk on the beach or even a hike in the countryside. You could be having tapas in the arty streets of Malaga at lunchtime and in the snowy mountains of the Sierra Nevada by early evening. Where else could you find this combination of seasons?

The luxury outdoors lifestyle is what keeps drawing tourists back to this Andalusian paradise, so how would you feel about living here year-round? Browse through our extensive property list – your dream Spanish home could be right there waiting for you.

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