Spain may still be in the grip of a recession and unemployment figures may still be high, but Marbella’s luxury property sector continues to excite international property investors. Investment fund Resolution Property has returned to the Costa del Sol’s most glamorous resort after a decade’s absence to invest once more in Marbella’s luxury villa and apartment market. Marbella is the second most important luxury property niche in Spain and the return of the investment fund is headline news.
Seen in terms of top-of-the-range products and services, Marbella is now only in second position after Barcelona. The town’s importance for the country’s luxury property sector cannot be underestimated. Around 86% of wealthy individual buyers with a wish to buy Spanish property select Marbella as their preferred hunting ground for luxury apartments, townhouses and villas.
Immediate and long-term Goals
In the long-term, the Fund plans to source investment opportunities in other sectors as well, such as retail, hotel and holiday rentals and services. Rhone Property will be in charge of managing the Fund’s assets. Rhone Property is an investment fund management company with a proven track-record and wide range of experience in the Marbella luxury property sector.
The fund also plans to source investment opportunities in sectors such as services and retail, hotel- and holiday rentals. The fund’s assets will be managed by Rhone Property, an investment fund management company with a track record of experience in Marbella.
The investment fund is backed financially by two organisations: the British Resolution Property and the Swiss Be Capital, who each contributes 50% of the total capital to the investment fund and will be undertaking the investment via Investis Properties, a company that already holds an impressive portfolio of Marbella assets worth at least 50 million euros.
The overall investment volume will permit the company to become a REIT, meaning a real estate investment trust or SOCIMI in Spanish, which means Marbella has a position on Spain’s alternative stock market now.
Exclusively in charge of undertaking asset management services for Investis Property, Rhone Property will have the responsibility for both current and future assets of the organisation. This will enable the company to source potential niche assets in Marbella with the aim of either rebuilding or renovating them to enhance their value for capital gains or to let them as holiday lets during the lucrative summer season.
Marbella’s increasing Importance to Spain’s luxury Property Sector
Now ranking second in the whole country, Marbella’s luxury real estate sector is seen as immense value to the Costa del Sol’s property sector as a whole. As demand for exceptionally well-built and well-designed properties increases and a lack of such properties ensures that demand is never fully met, activity in the construction sector gains momentum.
Speaking to Sur in English magazine recently, Miguel Cerván, Rhone Property’s managing director, said: “Marbella is an oasis in the Mediterranean for investors who are looking for security, stability and return on their investments,” adding his belief that the annulment of the 2010 town planning regulations, PGOU, meant that now a great opportunity presented itself for Marbella to draw up a general development plan that meets modern expectations and requirements.