Once known as the playground for the rich and the famous and renowned for its great array of golf courses, Marbella has always had its name in the spotlight. However, unfortunately over the course of the last several years the reputation of the Marbella property market was tarnished with tales of overdevelopment, lack of planning permission and corruption.
The subsequent criminal investigation and the election of new local government officials has brought a fresh start with a number of untrustworthy characters from this debacle being imprisoned and Marbella property officials and authorities imposing new stricter regulations. The conscious need by authorities in Marbella to be seen as being “whiter than white” combined with a new law that is due to be passed later this year which will legalise the vast majority of all the properties that were granted illegal licences, has led to renewed confidence in the property market in Marbella. Indeed, there has never been a better time to purchase bricks and mortar, especially for investors searching for an alternative route to safe guard their cash savings.
In the past, in order for investors to get a return on their money they have turned to the stock market or high interest bank accounts to get a return. However, with shares tumbling and high interest bank accounts a thing of the past, more profitable long term solutions are needed for this cash. As a consequence, investing in bricks and mortar is proving an increasingly popular and attractive medium to long term investment.
Ignacio Osle, Regional Director of Andalucía at Taylor Woodrow de España, the only major UK house builder in Spain, comments on the current situation in Marbella: “It seems that the economic crisis started in the Marbella area two years before the international crash. During this time the prices started to decline and developers reduced their new construction projects. Due to this slowdown happening two years before the current slowdown we are now facing, Marbella is currently in a prime position to be one of the first places to recover. Indeed, the stock of properties has been reduced drastically with price discounts up to 30%. I truly believe that 2009 is the best year to buy a property in Marbella because of these exceptional price reductions. Additionally, the new Málaga airport, the San Pedro de Alcántara tunnel and the new urban plan will further improve the quality of this unique destination.”
He continues: “I forecast that investing around the Marbella area, taking into account current prices and that new land to develop is very scarce, will be a superb mid-term investment with good revaluation after the next 2 / 3 years.”
UK house builder Taylor Woodrow de España, the only major UK house builder in Spain, is currently offering generous discounts on a couple of its developments situated in the Los Arqueros Golf and Country Club in Benahavis, only ten minutes from Marbella.
Both Las Encinas de los Arqueros and Los Robles de los Arqueros are situated on the Los Arqueros Golf Club just a few minutes from Marbella, San Pedro Alcántara and Puerto Banús. Las Encinas consists of 30 two and three bedroom apartments in the style of a Mediterranean village with magnificent terraces, swimming pool, gardens and an over-ground parking space. All apartments are southeast facing with magnificent views over the golf course and sea. Where as, Los Robles de los Arqueros is situated in the heart of the prestigious Los Arqueros Golf Club whose members can enjoy the view of well-kept greens and fully equipped club house. It consists of 42 unique apartments that combine to form a Mediterranean village. Located in 7 apartment blocks, all just three-storeys high, all the apartments face south or south-west, with magnificent balconies and gardens with views of the golf course and sea. Prices at this internationally renowned resort featuring two desirable developments start at 168,255€.
Additionally, all of these apartments come with the added reassurance that they are accredited by the international Safe Buying Experience Scheme. This partnership provides a double reassurance to buyers of a Taylor Woodrow de España home as they are guaranteed a quality home complete with independent endorsement as to its ‘integrity, legality and safety’.
Ben Marson, Head of Legal at Safe Buying Experience (SBE), comments on the current situation in Marbella: “There is no doubt that Marbella has been affected by the crisis but there are signs that the bottom has been reached and the turnaround will start to happen this year. The top end of the market has been unaffected, as it is still very desirable, but there are excellent discounted purchases to be had at the lower and middle end of the market for purchasers who have some liquidity. People who invest in these discounted properties now only stand to reap the benefits in the coming years.”
He continues: “Indeed, Marbella is probably the safest place to buy at the moment as both sellers and buyers are paranoid about being seen to be whiter than white. Through schemes like Safe Buying Experience, purchasers can not only be assured of a safe purchase, but one that is greatly discounted and, in the majority of cases, available with existing finance.”
With a reputation for trust, Taylor Woodrow de España provides a specialised service and dedicated team within the UK and Spain who can help and advise homebuyers through the entire process of choosing, buying and settling into a new Spanish home. The developer currently has a range of Safe Buying Experience endorsed quality homes available in Mallorca, the Costa del Sol and Costa Blanca.
For further information on Taylor Woodrow de España and the developments available please call 08000 121 020 or visit www.taylorwoodrow.es