Property in Marbella has generated much interest from investors of late. Marbella is situated in the province of Malaga on the Costa del Sol, which has been a popular Spanish holiday resort for decades. Many British people have purchased second homes there. The most sought after property can be found along the coast east of Marbella. This area has the most stunning beaches, with many beach clubs and golf clubs on offer. Read more »
The current trend for investing in the property market in Marbella has been fueled by the following facts: Firstly, since the early part of the 21st century, property prices there showed a steady increase while the housing market was buoyant and flourishing; secondly, during 2010 and 2011, huge drops in house prices have made this location highly desirable and tempting for foreign investors again. Read more »
The Spanish government has unveiled plans to halve the tax on new homes to boost the country’s flagging construction sector. Sales tax (IVA) on new houses has been cut from 8% to 4% until the end of the year to help clear excess stock of unsold houses.
The owner of FC Malaga Football Club, Quatari Sheikh Abdullah Bin Nasser Al Thani, will create a new luxury marina in Marbella. With an investment of 70 million Euros he plans to expand La Bajadilla Marina (Puerto Pesquera Marbella),. The aim at La Bajadilla is to create 400 more mooring areas which would allow cruise liners and larger yachts to enter the area. The Sheikh planned to buy Puerto Banus itself, but was unable to do so because the area cannot be expanded, reported the local press.
If the Junta de Andalucía gives the project the go-ahead then private investors can express their interest. Miguel Gomez, the President of the Tourist Initiative Centre in Marbella has said that other Arab investors have their sights set on Marbella and the Costa del Sol as they consider it a safe place to invest. New and exciting times are coming to Marbella once again.
An initial investment of 84 million Euros will be made in the project, the first jointly public privately funded venture in the region. This will include extending the wharf to accommodate cruise ships, bringing in a new wave of possibilities for the town as a tourist destination. Plans to incorporate luxury leisure facilities including a shopping mall and a 5-star hotel will notch up a total investment of some 400 million Euros, creating thousands of jobs into the bargain.
Currently the port is the hub of the town’s fishing activities, which according to the plans, will be moved to one side of the port, making way for a spectacular new circular pier of some 900 metres competing with very similar project build at present in Malaga.