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Tag: Costa del Sol

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Published on 3 Comments on Brexit vote dents British demand for Spanish property

The number of homes in Spain sold to British buyers has slumped since the Brexit vote and the fall in the value of the pound.

Villa in Moraira 300x199 - Brexit vote dents British demand for Spanish propertySales in the third quarter of this year declined 16% after steadily increasing since 2011. Last year the strong pound led British buyers to purchase almost 10,000 Spanish properties, up 42% on 2014, giving them a 21% share of the number of homes acquired by international buyers.

No other nationality buys as much property in Spain as the British, and in recent years they have made a significant contribution to the recovery of the Spanish property market.

About 28% of holiday homes on the Costa del Sol are sold to Britons and 26% on the Costa Blanca. They also dominate the sales of holiday homes in Murcia, the Canary Islands and the Balearics.
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Published on Leave a comment on Centre Pompidou Málaga by Javier Pérez de la Fuente and Juan Antonio Marín Malavé

Centre Pompidou Málaga by architects Javier Pérez de la Fuente and Juan Antonio Marín Malavé.

1. Centre Pompidou Málaga 1 - Centre Pompidou Málaga by Javier Pérez de la Fuente and Juan Antonio Marín Malavé
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Published on Leave a comment on For Sale: Luxury Villa in Benahavís, Costa del Sol, Málaga

Benahavís, Brand New Detached Villa, 2 floors, 675 m2, Plot: 1,485 m2, 7 bedrooms, 6 bathrooms, Parking places

1. Villa for sale in Benahavís - For Sale: Luxury Villa in Benahavís, Costa del Sol, Málaga
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Published on 1 Comment on 7 Apartments to rent under €890/month in Costa del Sol, Málaga province

1. Penthouse apartment to rent in Benalmádena Costa - Long-Term, €800/month: 180 m2 | 2 bedrooms | 2 bathrooms | Furnished | Swimming-pool | Gardens

Apartment to rent in Benalmádena Costa Torrequebrada e1477904146619 - 7 Apartments to rent under €890/month in Costa del Sol, Málaga province
Click here for further details
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Published on 1 Comment on British fund to invest 25 million euros in five luxury villas in Marbella

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.

Marbella Sierra de las Nieves 300x225 - British fund to invest 25 million euros in five luxury villas in MarbellaThe 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.
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Published on Leave a comment on Superb Apartment for Sale in Benahavís, Costa del Sol, Málaga

Benahavís (Málaga), 3 bedrooms, 3 bathrooms, Built area 181 m2, Swimming-pool

1. Apartment for sale in Benahavís Málaga - Superb Apartment for Sale in Benahavís, Costa del Sol, Málaga

2. Apartment for sale in Benahavís Málaga - Superb Apartment for Sale in Benahavís, Costa del Sol, Málaga
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Published on 1 Comment on Holiday resorts’ anger at UK lawyers who encourage tourists to sue hotels

Hoteliers’ associations in Benidorm and Gran Canaria have complained about “clear abuse” by British law firms who approach holidaymakers promising “to get them their money back for their Benidorm Costa Blanca 300x186 - Holiday resorts' anger at UK lawyers who encourage tourists to sue hotelsholidays” on a “no win, no fee” basis.

According to reports over the summer, mobile ‘help centres’ have appeared in areas popular with UK tourists that encourage them to make compensation claims for complaints such as sickness or poor quality.

European package holiday legislation makes tour operators responsible for compensating passengers if anything goes wrong on holiday, however these amounts are normally taken off the money paid to hoteliers as part of their contract.
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Published on 1 Comment on The ongoing love affair between Kuwait and Marbella

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 marbella 1270299 960 720 300x199 - The ongoing love affair between Kuwait and Marbellaexcesses 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.
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Published on Leave a comment on Brexit has not affected property sales so far, say Costa del Sol real estate experts

Is a weak pound and the uncertainty accompanying the Brexit vote having or likely to have an impact on the British demand for property in Spain?

Marbella 2 300x199 - Brexit has not affected property sales so far, say Costa del Sol real estate expertsWhile demand for property has been growing since 2013, a reversal is anticipated given that the market for UK buyers is driven by the strength of sterling.

It is also expected that the buying pond for British owners wishing to sell and return to the UK may also evaporate somewhat in the short term.

However this is not a view shared by those on the ground. Gary Oliver, sales director of Remax property agents, thinks not.

“We do expect some buyers may hold off to see what the coming weeks and months will bring but with little long term impact,” he says.
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Published on 2 Comments on The effect of Brexit on the Costa del Sol

The United Kingdom's exit from the European Union is a terrible piece of news for the Costa del Sol, where the British are its biggest and most important customers, and also some of the highest spenders. From now on there are just unknowns and a lot of nervousness.

brexit 300x210 - The effect of Brexit on the Costa del SolLast week, the president of the CEA (Andalusian Employers' Association), Javier González de Lara, warned that Britain leaving the European Union would have serious consequences for the Spanish economy, with tourism, although not just tourism, being the main loser.

Since the referendum there's been a 10% fall in the value of the British Pound. This means that Britons' holidays in Spain have become more expensive overnight as, although the Euro has also fallen, it hasn't done so as much as the Pound. This will mean less tourists will visit and less buying power for those that still come. The current average daily spend by the British is 105 euros, higher than the Germans (101 euros) and the French (80 euros).
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