Marbella Property for less than EUR 450,000

If you are dreaming to buy a holiday home at the Costa del Sol, now is the time to seriously consider it. Marbella’s property market has seen something of a modest revival and luxury property in prime locations is beginning to get scarce thanks to rising foreign buyer demand. Having said that there are still plenty of bargains to be found for less than EUR 450,000!

Marbella on a Budget

In the tranquil community set within the prestigious Guadalmina golf course complex and within easy driving distance of Marbella town centre and the popular Puerto Banus marina, you can find brand new 3-bed penthouses for offers in the region of EUR 395,000. The new built complex comprises of low rise apartment blocks and town houses set in 15,000 sqm of beautiful landscaped grounds. Malaga Airport and the motorway are within easy reach.

For just a little less, there is a spacious 3-bedroom apartment set within the famous Golden Mile development, right by the sea and some of the best beaches Marbella has to offer. At EUR 390,840 this Playa de Trocadero apartment is an absolute bargain and a rare opportunity to buy into this prestigious urbanisation.

Over in Bahia de Marbella, a 2-bed flat with partial sea views and east facing sun terrace costs around EUR 360,000, while right in the heart of Marbella, just 100 metres from the beach and all amenities the promenade offers, potential homeowners with a flair for interior design and a few DIY skills can find a 3-bedroom resale apartment for just EUR 350,000, leaving a cool EUR 100k for redecorations and furnishings. The marina is within walking distance, so are trendy cafes, bars and designer outlets; the property even boasts partial sea views.

San Pedro de Alcantara is an affluent and peaceful neighbourhood that is just a 5 minute drive from Puerto Banus and a 10 minute drive from Marbella town centre. Here a 2-bedroom resale garden apartment with a south facing terrace and views over a sizeable swimming pool can be found for just EUR 345,000 - while off-plan luxury apartments are snapped up for just under EUR 1m!

One Man’s Joy is another Man’s Misery

But behind all these bargains lie some woeful tales from owners who are desperate to sell. Although Marbella’s unemployment rate has thankfully sunk to below the 20% mark, it is still difficult to find a full-time job and properties are still being repossessed. Foreign buyers and domestic investors with plenty of cash dictate the market prices for Spanish property.

In Marbella this have by and large been mainly affluent local cash buyers who have helped to drive the price for repossessions down even further, since the property market collapsed at the start of 2008. This is why a 3-bedroomed luxury penthouse in the exclusive gated community of Hacienda del Sol is on the market for just EUR 339,000. Boasting a range of amenities on site, such as a gym and various swimming pools, the penthouse benefits from spacious terraces and is located just 100m walking distance from the beach.
 
Two for the Price of one

Some brand new, key-ready penthouses in the neighbourhood of Benahavis have been reduced from their original asking price of EUR 600,000 to a mere EUR 299,950, as many developers are still desperate to sell their housing stock.

Perhaps most surprising of all, and utterly unthinkable back in 2007, when the housing market in Spain last peaked, right in Marbella’s Old Town, one of the most sought-after destinations for foreign house hunters, there are 3-bedroom apartments available for just EUR 275,000!
 
In the historic part of town, where one charming narrow alleyway leads into another, one can sit and while away an afternoon in picturesque squares lined with white-washed houses; here tiny cafes and bars near the old walled fortifications and the main square, the Plaza de Los Naranjos, tempt visitors to linger. Old Town offers a glimpse of what Spain must have been like before tourism and large scale development changed sun-kissed Costa del Sol forever.

Don’t wait too long to fulfil your dream of a holiday home! Prices are stabilising as demand is rising.