The Costa del Sol’s great accessibility via low-cost
airlines has always been one of the things holiday home owners have cited as
the reason why they purchased a second home in the area. Budget airline
Jet2.com has just announced it is going to provide an additional 100,000 seats
on flights between eight British airports and Malaga in Spain.
While during spring, summer and early autumn most airlines offer
plenty of scheduled and chartered flights, the winter months November to
February can be a little patchy from some European destinations.
Throughout last year, Jet2.com flights between the UK and
the Costa del Sol have on average enjoyed around 90% occupancy, which the
airline took as an indicator for this year’s success. With regard to traffic
volume, Malaga is in third position for the carrier, who also flies to 10 other
Spanish airports.
The increase of seats will start with the official onset of
the summer season on 30th March, when some 18% additional seats will become
available on flights from the UK to Malaga.
This will be greeted as welcome news by many home owners
with a property in Malaga, Marbella, Torremolinos or Mijas for example, who
will no doubt view the improved accessibility as a perfect excuse to spend more
time at their second homes in the sun.
Good news also for potential investors who have been eagerly
waiting for Spain’s newly formed SAREB or “Bank Bank” to get active. Just a few
days ago the first instalment of 13,000 properties that were once owned by
bailed-out lender Bankia came on the market.
Although the bulk of these low-end properties is unlikely to
be found at the Costa del Sol, the news is nevertheless attracting investors
back to Spain. Experts estimated it will take SAREB at least 15 years to sell
all or most of these properties and a minimum return of 14% is to be expected.
While many of these Bad Bank owned properties are not in
golf resorts or near the sea and are therefore less desirable to investors hoping
to cash in on Spain’s tourism boom, they may still be of interest to those who
are looking to retire but are worried about high costs of living, particularly
high cost of housing, in the UK.
Some golf and sea-side developments are included in the Bad Bank’s
first instalment of 13,000 discounted homes, but it is highly unlikely resorts
like Marbella at the Costa del Sol will feature among them. It is more likely
to be low-end property in Murcia or somewhere inland within driving distance of
larger cities. However, for people forced to retire on a much reduced budget
because of the global economic downturn, such property might provide a
temporary stop-gap until better times are ahead.
For those able to sell up at home and retire in style to
Marbella, there’s plenty of high-end, low-price property to choose from. Starting
at around EUR 100,000 for a resale home with one bedroom and one bathroom,
prices can go right up into the millions for amazing 10-bed villas designed for
the super-wealthy.
Most quality Marbella property comes complete with stunning
views over the Mediterranean coastline or the Sierra Blanca mountain range and
for EUR 150,000 to EUR 250,000 soon-to- be-retired buyers from the UK can have
their own sun terrace, 2 bedrooms and 2 bathrooms, access to communal swimming
pools and landscaped gardens as well as all the attractions and amenities they
could wish for within a short distance of Marbella city centre.
Meanwhile, another low-cost carrier has announced 17 routes
that were cancelled last October are now to re-start again from 1st April 2013.
Offering flights between Alicante and Bournemouth,
Nuremberg, Paris, Wroclaw, Katowice, Budapest, Smaland, Haugesund, Angelhome,
Kaunus, Oslo Torp, Kerry, Malmo, Tampere, Cork, Stockholm Vasteras and Knock,
Ryanair has confirmed they are determined to hold on to their slots at Alicante
Airport, fearing another low-cost carrier might snap them up instead.
Overall, for tourists and home owners alike Marbella is as
accessible as ever, both with regard to air travel and with respect to
availability of great holiday homes.