With Spanish property prices at the Costa del Sol still on a downward slide, investors should take the plunge now before prices start going up again. Prices can, however, vary hugely from district to district within the city of Marbella, the famous resort at the Costa del Sol.
While the Golden Mile and Puerto Banus are strictly for property buyers with the annual income of the average football player, other parts of Marbella are far more affordable.
Located a little further away from the tourist hustle and bustle lies the district of Elviria, situated a 15 minute drive east of the town centre. Homeowners have excellent amenities and services at hand and Santa Maria and Santa Clara golf courses are also close by. The popular El Casco Tennis Club as well as nearby Canopino port mooring places for boats and yachts make Elviria a good chose for sports enthusiasts.
Access to the nearest airport is at Malaga, which is just a 50 km distance away. Homeowners have their very own health care on their doorstep in the form of the well known Hospital Costa del Sol. Families with children have the English International School at their disposal, which caters for both primary and secondary school children.
The urbanisation is blessed with many amenities and is well established. Among the many quality hotels there is also the landmark Don Carlos Hotel, offering 5-star luxury accommodation and fine dining.
Another district of Marbella which offers first class amenities and services alongside excellent property choices is the neighbourhood of San Pedro de Alcántera, a small satellite town in its own right which is located approximately 10 km from the city centre of Marbella. Apart from the stunning natural beauty of the Sierra de Ronda Mountain range, the small urbanisation offers tranquil living with a central plaza, a beautiful parish church, cafes and bars, shops and street market once a week. The town of Estepona is a mere 20 km drive away and from the San Pedro town centre homeowners can meander leisurely down to the beach and take a stroll on the palm-lined promenade. The area has some excellent seafood restaurants, bars and clubs to offer for a rich but less noisy nightlife.
The further away one travels from the Golden Mile and Puerto Banus, the cheaper the property gets – well, in theory. At Los Monteros, a luxury development located 15 minutes’ drive outside of Marbella, property prices can be a little on the eye-watering side, but here investors have a choice of amazing beachside as well as mountain side properties. Close to the famous Los Monteros Golf hotel as well as the golf course of Rio Real, Hollywood stars like Antonio Banderas and Melanie Griffiths have made their Spanish home here. The English International School is located a ten minute drive from Los Monteros, while a trip to the Lost Monteros motorway exit will take homeowners in need of healthcare directly to the Hospital Costa del Sol.
Before going ahead with a real estate investment in Marbella, buyers should remember that wealth tax and property tax as well as various maintenance charges need to be added into the overall buying cost. The exchange rate fluctuations between Sterling and Euro may at present favour British buyers, but other currencies may be more volatile against the Euro and this is another consideration when assessing buying costs.
El Paraiso near Areola city is a luxury and exclusive urbanisation with stylish apartments and impressive villas. Tranquil and quite literally a small paradise, the neighbourhood offers an 18-hole golf course with club and regular tournaments, a lawn bowls club a tennis club, a great 4-star hotel and plenty of restaurants, bars, clubs and shops to satisfy the above-average holidaymaker. Located just a ten minute drive from central Marbella, El Paraiso has two airports in roughly equal driving distance at its disposal, namely Malaga and Gibraltar, both just one hour away.
While Puerto Banus and the Golden Mile remain Marbella’s most prestigious addresses, other parts of the city should not be disregarded. Buying Spanish property hasn’t been this affordable for ten years or more – now is the time to act!