The British community in Malaga has shrunk by one third in three years. The speed is due to several factors such as ageing, loss of spending power and fiscal pressure, but its rate is increasing, according to the latest figures regarding continual residence.
...continue reading "The British Costa exodus: loss of 5,000 people in a single year"
Six months after the introduction of new regulations regarding holiday properties in Andalucía, figures show that in some municipalities such as Nerja, Rincón de la Victoria and Casares, there are nowmore places available in rental properties than in hotels.
Self-catering properties now represent 50 per cent of holiday accommodation on the Costa del Sol and 30 per cent of hotel places in the province. The figures refer to rental properties whose owners have complied with the regulations and have registered them with the Tourism Register of Andalucía, and they show that there are currently 26,321 places available in 5,321 holiday rental properties.
However, during the six months since the new regulation came into force, there have been more than 10,000 applications for these types of properties to be registered, and 5,321 of them have completed the whole process, explains the Junta de Andalucía’s Turism and Culture delegate in Malaga, Monsalud Galindo.
...continue reading "Holiday rentals represent 30 per cent of tourist accommodation in Málaga"
The London-based British fund Pacific Investments has announced plans to invest 25 million euros in the construction of a complex of luxury villas in the Sierra Blanca area of Marbella.
The exclusive project is aimed at a privileged few, buyers with very high purchasing power; there will only be five properties in total, and the price is expected to be around seven million euros each.
The complex, which was launched by the director de Pacific Investments, Mark Johnson, and the head of Penna Properties Partners in Marbella, Christopher Penna, has been designed by the Torras y Sierra architecture studio, which also designed the Finca Cortesín hotel.
The construction of the villas will begin as soon as the council has issued the works licence – this should be done within the next few weeks, they say – and the site chosen for the exclusive development is the area known as Cascadas de Canoján, in the upper part of Sierra Blanca.
...continue reading "British fund to invest 25 million euros in five luxury villas in Marbella"