Ever since the late King Fahd decided to build a complex of five palaces and a number of mansions on the exclusive Golden Mile during the 1980s, Marbella’s image has been associated with the excesses of the Saudis.
Fahd’s building spree followed a successful visit to the ritzy Incosol Hotel In 1979 when he was still Crown Prince, prompting him to choose this corner of Andalusia over the South of France for his summer residence.
But while his presence and that of his extraordinarily extravagant entourage might have made the biggest splash, his Kuwaiti neighbors had already blazed the trail, investing their petrodollars in property and starting a love affair with Marbella that has lasted 40 years.
...continue reading "The ongoing love affair between Kuwait and Marbella"
The ultimate expression of luxury in Malaga province is showcased on the Muelle de Ribera in Puerto Banús. Decades ago, this became the epicentre of the most exclusive boutiques and now this street which runs alongside the Mediterranean and is lined by designer fashion stores, is the sixth most expensive shopping street in Spain.
Purchasing in these shops is something only the wealthy can do, and the same goes for setting up a business opposite the yachts: the price per square metre to rent a shop in this prestigious street is 2,280 euros.
This information is included in an annual report on the fashion business which is produced by the Asociación Empresarial del Comercio Textil y Complementos (Acotex), and it shows that rental prices slightly increased last year, from 2,160 euros in 2014.
...continue reading "Puerto Banús, the sixth most expensive shopping street in Spain"
Marbella continues to attract international property investment. The investment fund Resolution Property has returned to the town after ten years’ absence to invest in luxury properties in the resort.
The fund also plans to source investment opportunities in sectors such as services, 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.
Two companies make up the capital behind the fund: the British Resolution Property and the Swiss Be Capital. Each brings 50 per cent of the total capital to the fund and will carry out the investment via Investis Properties.
This company already owns an extensive portfolio of assets in Marbella and these have a value in excess of 50 million euros. The volume of investment will allow the company to become a REIT (real estate investment trust - SOCIMIin Spanish) and therefore place Marbella on the alternative stock market in Spain.
...continue reading "Luxury property sector in Marbella attracts 100 million euros"
Zahara de los Atunes (Cádiz), 5 bedrooms, 5 bathrooms, Lot 2,265m2, Built area 430m2, Swimming-pool, 500m away from the Beach, Second Hand, In Urban Area, In a mountain area, 2,700,000 €, Request Details
...continue reading "On the Market: Fabulous Villa for Sale in Zahara de los Atunes (Cádiz)"
A privileged area, surrounded by greenery, nothing to block the view, very few neighbours, top quality and an innovative design. These are the characteristics demanded by the new property market which is being reborn on the Costa del Sol. The macro-developments, all looking the same, which mushroomed along the coast during the boom years, have been left behind.
Following the crisis the sector is starting to reactivate, thanks to projects which are based on luxury: residential complexes with a very few, very exclusive properties which are, logically, designed for those with ample budgets.
In Marbella, several of these are to be found now. Avenida Príncipe Hohenlohe, otherwise known as the Golden Mile, and Sierra Blanca are the main attractions for investors, many of whom bought land some time ago but were reluctant to build on it because of the plunging property market. Now, signs for show houses are reappearing and off-plan sales are becoming a reality once again.
...continue reading "Marbella and its luxury property market leading the crisis recovery"