Far from being a transport hub Malaga over the years has become a cultural city with so many attractions. Its port area has become a thriving tourist attraction as it is surrounded by fantastic restaurants, shops and leisure facilities.
With this popularity the number of yachts and luxury yachts mooring in the area has increased too and it is with this in mind, that the Junta de Andalucia are considering plans for expansion of the port into a glitzy Miami-style port for luxury moorings. There have been several mega yachts, including some of the most famous in the world mooring at the port to restock.
The port authority recently announced early plans for the new marina that would provide space for 40 luxury yachts from 40 to 100 metres in length, the length of a full-sized football pitch in fact.
The new facility would be on the Marqués de Guadiaro quay, the stretch of the port next to the dockside shopping centre that runs towards the city centre. It would resemble the huge private yacht marinas of Miami with a gardened protective outer wall.
The Melilla ferry terminal would move to the other side of its current dock to allow more space.
With data showing there are over 100,000 private yachts over 40 metres long with another 755 under construction having the facilities available for them to moor safely in Malaga would increase tourism and spending in the area.
Malaga is seen as an ideal stop over and resupply point before mega yachts sail to the Caribbean and with the proximity of Malaga airport this also opens up travel options.
There is talk of building a heliport so people could transfer quickly to the airport and onwards to Marbella or Puerto Banus.
No detailed plans have been produced to date but this kind of Miami-style marina would appeal to those who have property in the luxury regions of the Costa del Sol, perhaps drawing in further demand for high end property.
This shows the confidence in the property market as whole is moving in the right direction and this is something we can see with the influx of contemporary and modern new developments popping up attracting that foreign investment along the Costa de Sol. Foreign nationals have spent some €888 million on Spanish properties in just the first six months of the year. That is more than double the investment from January-June 2016.
Last year established itself as a hugely important year for foreign buyers. The British, Germans, Russians, French and other nationalities bought some 13.2 per cent of all homes sold in Spain which itself was the highest proportion in over a decade. That equates to 53,500 transactions during 2016.
A 2017 market report from JLL suggests that percentage will be easily eclipsed this year. It is beyond any doubt that 2017 will represent the eighth consecutive year of foreign buyer growth in the Spanish housing market. Again, this is something you can witness when you see all the building works taking place and those new developments include cost effective 1-2 bedroom apartments on urbanisations up to lavish 4-5 bedroom villas with private pools.
A breakdown of foreign-led transactions in 2016 shows that UK nationals still top the international rankings. The British bought 19 per cent of the 53,500 homes sold to foreigners last year and are continuing to break new ground in 2017 despite concerns over the potential impact of Brexit and the weakening pound. Several media reports show that Brexit is not stopping UK nationals from realising their dream of buying a holiday home in the sun.
The British were well ahead of the second-placed French, who had eight per cent of transactions slightly ahead of the Germans on 7.6 per cent, the Swedish on 6.7 per cent, and Belgians 6%, but this percentage split is something that could change. Economic factors do influence property transactions to a certain degree, but property still remains the most solid form of mid to long term investment.
Bromley Estates Marbella has just been named by developer Kronos Homes as the exclusive promoter for the newly launched La Finca by Kronos Homes resort.
Since the company was launched in 2009, Bromley Estates Marbella has achieved a well-earned reputation as a leading real estate agency on the Costa del Sol. As longstanding property experts, they have the experience needed to identify projects that present the best value for money as holiday homes, permanent residences and investment opportunities for their clients. La Finca, Sotogrande falls firmly into all 3 categories.
Marbella real estate specialists, Bromley Estates Marbella, have officially launched this lifestyle and golf resort on the market on the 24th of June 2017 and sold the first units the same day. Prices start and 410,000 Euros and prime units will not be around for long.
La Finca by Kronos Homes comprise of luxury properties next to La Cañada Golf Course in La Reserva, Sotogrande one of Europe’s finest residential addresses. This brand new development of contemporary golf villas is the ultimate in stylish living offering the full package; deluxe property, idyllic location, close proximity to golf and incredible sea and golf views. These golf villas are set within an extremely desirable family friendly environment protected by 24-hour security. Residents have exclusive access to a host of onsite amenities including swimming pools, a gym, paddle tennis courts and even a running track. Property of this calibre which is available at this price point, will be in high demand amongst international investors.
Managing Director of Bromley Estates Marbella, Hayley Bromley, explains, “The stylish villas were designed by renowned architect Rafael de La Hoz and make a real statement. The surrounding area of Sotogrande is one of the most sought after exclusive areas on the Costa del Sol that attracts golf professionals and even royalty with polo events, marina and a yacht club. Gibraltar is just 20 minutes drive by car whilst the amenities of Marbella and Puerto Banus are only 20 minutes in the other direction. A perfect location with excellent facilities – in fact somewhere I know our clients will love.”
Learn more about La Finca de Sotogrande
When you are looking for a new home in Spain or even that lovely second property or holiday home there is much to consider on your wish list. So, when faced with choosing a property why buy a new build? Why not, is what we say, and here are a few reasons.
- Buying into a new development early could increase your opportunity to benefit from capital appreciation. Why? The first investors in a project often get a discount as well as the chance to pick the best units. And once the development becomes established, demand typically increases.
- Some developers often offer attractive finance deals or payment schemes, which you won’t get when purchasing an existing resale property. Paying for your property in staged payments suits some buyers.
- There may be the chance to negotiate extras into your deal with a new-build purchase. This could be the developer offering you a furniture pack or even membership of a gym or the local golf club as an incentive. One of our developments recently offered a Mini Cabrio car with property purchases!
- New properties usually come with a guarantee from the developer, who will also be obliged to take care of any faults when the new owner takes possession, a process known as snagging.
- Buying off-plan is exciting as it gives the buyer a certain amount of control over the interior of their property, allowing them to tweak or choose the design, and choose the style and colour of certain fixtures and fittings like flooring, bathrooms and kitchens.
- New properties are built using more modern, energy efficient materials than you find in older resale homes. They often incorporate solar or greener energy solutions. Not only does this reduce your carbon footprint, but saves on bills too. Technology within the homes is likely to be up to the minute – think air-con, fibre broadband, home control systems.
- There are so many smart, modern new-build properties in sought-after locations with access to good facilities which usually command a premium in the local rental market. Modern developers are experienced in choosing sites where their development benefits from the local amenities.
There are so many benefits to buying a new build or off-plan property, so if you are sold on this method of buying your dream home in the sun take a look at our new developments.
The Costa del Sol has long been a draw to the international elite and tourism here has just grown with the balmy almost year-round climate, world class golf courses, stunning resort hotels and fabulous resorts offering so much to do. The lifestyle here is outdoors, the food fantastic and the health benefits well publicised.
Recent data from the National Institute of Statistics revealed that expenditure by international tourists visiting Spain in April increased by 19.7% compared to the same month in 2016. The average expenditure per tourist stood at 955 euros with an average stay being around 7 days.
During the first four months of 2017 the total expenditure by international tourists increased 15.3% reaching a staggering 20,394 million euros. The main countries were the UK (18.4% of the total), Germany (16.1%) and France (9.5%).
And it is no surprise to see that the most popular areas to visit where this spending occurred were Cataluña, The Canaries and Andalucia. A recent report in The Olive Press stated that Malaga Airport is popular with shoppers and buying levels here top any other Spanish airport. With around 16.6 million people passing through the airport last year it is not surprising as gateway to the Costa del Sol.
The Costa del Sol is one of the most sought-after places to live too. It offers the kind of lifestyle that most people aspire to. The new developments locally are starting at a rate of knots and it is good to see cranes dotted around the landscape once again as the economy rises. Off plan apartments are being reserved in a renewed confidence.
With other reports seeing further investment into Andalucía with the arrival of the W Marbella and reports of more than €150 million invested to revitalise Torremolinos, the council is looking to offer more upmarket hotels and make it one of the top resorts on the Costa de Sol.
Tourism is most definitely booming on the Costa del Sol and long may it continue.
With environmental issues under the spotlight worldwide everyone is trying to do their bit to provide a better future. Andalucia is leading the way with an injection of funding into sustainable buildings meaning more than €75 million is set to be pumped into sustainable building projects across the region in a major green campaign over the coming years.
The Junta is financing environmentally-sound and long-lasting projects that are due to come to fruition before 2020 meaning that more building work and smarter environmentally friendly property options will be available over the coming years here on the Costa del Sol.
José Sánchez Maldonado, head of the department for employment and business, said the funding has been drawn from the region’s energy agency. It is excellent that Andalucia is leading the way pumping this kind of investment into the property market.
A report in The Olive Press says some of the money will also go into renovating existing buildings to make them more environmentally friendly, installing thermal insulation to bring down energy use and eco-air conditioning. This investment makes up part of the Junta’s new three-pronged energy efficiency programme report The Olive Press.
We are finding that developers are taking a greener view with eco-friendly features being introduced to selected contemporary developments like a recent energy efficient development near Estepona. Helping both the environment and keeping the owners’ costs down. Eco friendly designs take advantage of the best aspects of a site such as making the most of natural light so minimizing energy use.
A further report in the environmental section of The Olive Press states that the local government are looking to make the area a centre for green energy production: “The Junta has once again committed to making Andalucía a green energy powerhouse. Officials want to reduce the region’s energy consumption by 25% and increase the amount of energy created by renewable sources by 25%. This further highlights Andalucía as a prominent place to live with its investment in the environment.
With the economy growing and more interest from overseas buyers seeing Spain and particularly the Andalucian coastline as a sound investment, investing in the sustainability of its buildings and property is a must.