Spanish luxury Real Estate is leading the Market Recovery

The rest of Spain’s property market may still be struggling but the luxury sector is doing nicely, thank you very much. The Balearic Island of Mallorca and Marbella are the Costa del Sol are just two examples of holiday destinations where scarcity of available prime property has led to greater demand from foreign buyers.

Although the overall market is envisaged to reach recovery status by 2017, luxury apartments and villas at the Costa del Sol, on Ibiza and Mallorca are selling like proverbial hot cakes, according to recent figures released by the Spanish Notary Association and Spain’s tax authority AEAT.

It’s easy to fall in Love with Life in Marbella

For people who spend most of their lives coping with grey skies, cold and torrential downpours or worse, snow and sleet, the Costa del Sol is a little slice of paradise that has become more affordable over recent years. Now that the Spanish economy is officially out of recession, if not out of the worst, more foreigners are clearly re-considering their life choices. The rapid advances in technology make it possible for many people to be location independent, meaning they can work online and no longer have to be in a rain-soaked UK city or frostbite-inducing Scandinavian town to earn a living.

Why be miserable under grey skies when you could be having such a great time in Marbella at the Costa del Sol?

There is a plethora of things to do so buying a holiday or permanent home in a location like Marbella, Estepona, Fuengirola or Malaga will offer a fantastic lifestyle for many years. With an improved economy many construction projects that had ground to a halt are now being taken up again, one of them being the construction of a tunnel park in Marbella’s San Pedro Alcántara for example, which the Town Hall has just announced is likely to be completed ahead of time.

Achieving better Work/Life Balance with a Place in the Sun

San Pedro Alcántara is an affluent, mostly purpose-built neighbourhood within a short drive of Marbella’s town centre. The new tunnel-park will be a multi-purpose recreational space with sports pitches your kids will adore and gardens your aged parents will love to stroll in, when they come for their annual visit.
 
The park areas will feature pleasure gardens with fountains, an auditorium for cultural events, sports grounds and various other recreational areas suited for families keen on enjoying an outdoor life.

Already it has been confirmed a third of the tunnel-park has been completed and it is envisaged that construction work will be completed by the end of summer.

Mayor Ángeles Muñoz recently visited to inspect what progress had been made and was clearly delighted to find that some 35% of the new park had already been constructed. Seeing the park’s new auditorium, the mayor said: “While in principle the works should be completed by the end of September, if they continue like this then the date could be brought forward.”

The tunnel-park and brand new boulevard are effectively covering the tunnel on the A-7 route, an area stretching for around 54,000 square metres. Also already visible is the construction of a seven-metre-high walkway that will enable tunnel-park users to enjoy outstanding sea views from the park’s central area.

“The open air auditorium will be managed by the town hall and will facilitate the scheduling of shows for young people, ‘fiestas’ and cultural events,” added Mayor Muñoz.

Upon completion of this latest project to enhance Marbella’s appeal as a family friendly holiday destination and a fantastic place to raise children it is envisaged that various businesses will be created on the site, which will naturally generate much-needed local jobs.
 
Perhaps in future there will be space for bike hire companies, mini-golf facilities and tennis courts? At present the ideas for service providers include an artificial ice rink, a food market and concessions for cafes.
 
“This will permit the practice of sports that are not possible at the moment in Marbella, like ice hockey,” explained Ángeles Muñoz.

The Town Hall has kept a close fiscal eye on the project, which needed a EUR 6 million investment to get off the ground.