There are many reasons why anyone might want to buy a property in the Marbella area.
Its amazing weather and luxury lifestyle are well documented, but industry insiders agree that a weak euro, pre-recession property prices and a forecast of dwindling housing stocks in prime locations means that now is the time to buy.
Here are our top 10 reasons to buy a property in Marbella:
1. BUY LOW, SELL HIGH
If you’re outside the eurozone, especially in the UK, your dream home in the sun will cost you substantially less now than last year. In mid-March sterling reached a seven-year high against the euro, hitting a rate of 1.42. Analysts at Lloyds say that over the coming months they expect GBP/EUR to centre performance around the 1.37 level.
2. THE PRICE IS RIGHT
Property prices have dipped to pre-recession levels and by about 40% form their peak in 2007, and in some areas have seen reductions of 70%. Credit ratings agency Fitch recently forecasted that Spanish property prices are set to rise in 2015, and this is especially the case in prime locations such as Marbella.
3. GOING GOING GONE!
Although Spain’s stock of unsold homes remains massive, quality homes in prime locations such as Marbella, Estepona and Benahavís are selling fast. Spanish banking giant BBVA forecast that increased property sales in Spain during 2015 will be “accompanied by a moderate growth in prices.”
4. AMAZING WEATHER
Year-round-sunshine, blue skies, what else could you want? In an article published today titled ‘Marbella Makes a Splash’ The Wall Street Journal describes the weather in Marbella: “The area’s key selling point is its welcoming microclimate: Tucked between the mountains and the Mediterranean, the city [Marbella] has cooler summers and warmer winters than its neighbors on Spain’s Costa del Sol, and more sun than its rival resorts farther up the Mediterranean coast.”
5. EXCLUSIVITY
It is little surprise that the world’s super rich buy second homes here. We have the most exclusive neighbourhoods in Southern Europe with Marbella’s Sierra Blanca and La Zagaleta in Benahavís where recent sales included a 16,194 square foot home for just under $9.8m [WSJ 26-Mar).
6. SUPER CONNECTED
With two airports within a short drive, a high speed rail service and a modern motorway network, the Costa del Sol boasts one of the best travel networks on the Med. Since the expansion of Malaga-Costa del Sol airport a few years ago and the extended network of direct flights which came with it, there has been a rising number of people who commute to Marbella. These jet setters spend the week working in Northern Europe, and the weekends enjoying the Marbella sunshine.
7. CELEBRITY LIFESTYLE
Celebrities ranging from Michelle Obama to colourful cast of Britain’s reality show The Only Way is Essex holiday in Marbella. From the glitzy designer boutiques of Puerto Banús to the Michelin starred restaurants, if this is where they choose to spend their time off, why not live here?
8. BEST BEACHES
The fact that Marbella has some of the best beaches in Europe is no secret, and is home to some of the most famous beach bars and clubs such as Nikki Beach and the Ocean Club. This was endorsed by its nomination as Europe’s Leading Beach Destination in the World Travel Awards 2014. In line with the nomination for best beach destination, the Marbella Club Hotel, Golf Resort & Spa was nominated for Europe’s Leading Beach Resort 2014.
9. RETIREMENT HAVEN
Last year Spain officially became the most popular place to retire to in Europe and 5th in the world, as outlined by the Annual Global Retirement Index by International Living.
British buyers in particular will soon have some free cash to spend on overseas properties. Changes, due to come into action in April, will give people more choice as to how they receive their pension. The over 55’s will be given an option as to whether they take their pension in several small sums, 25% tax free, or whether they take one single sum and potentially be taxed up to 40%.
10. EVERYTHING TO OFFER
Marbella, and Spain in general has really is the full package; where else in Europe can you enjoy a cold drink on the beach and hit the ski slopes in the same day? Glynna Prentice, International Living’s Editor, writes that Spain “has the rich history and traditions that you expect from Europe, and all the First-World conveniences. But it also has a fun-loving, late-night culture, wonderful food, and people who place great value on family and friendships, and that’s very appealing. Spain is a great favourite with many people, including me,”
So what are you waiting for???
