This year has seen sales finally rise significantly in a small number of Spanish property hot spots. With Mallorca in the Balearics being a firm favourite with many buyers, the Costa del Sol is also among the preferred regions where foreign buyers look for real estate investment.
Marbella at the Costa del Sol and Mallorca in the Balearics have proven that many investment buyers rank quality over quantity. While elsewhere properties might be considerably cheaper, the lasting appeal of Marbella and Mallorca glamour as well as the high-end properties on offer are luring buyers from Russia, China, Germany and the United Kingdom back to Spain.
Surprisingly, it’s not the new build apartments ranging from EUR 100,000 to EUR 150,000 that are most sought after. Beachside or front-line golf condos and apartments costing from EUR 165, 000 upwards have proven a hit, while penthouses in the price range of EUR 330,000 to EUR 450,000 located within easy walking distance of golf facilities and fairways are another favourite with foreign buyers.
Holidaymakers also have become more discerning for what makes a good holiday let. Investors keen to get a good return on their holiday lets choose far better builds and locations than are available with “cheap as chips” properties elsewhere in Spain, where developments in suburbs of large cities or in semi-rural location have failed to attract any interest, no matter what heavily discounted prices they are being offered at.
East Marbella’s neighbourhoods of Elviria and Los Monteros, which offer Santa Maria and Santa Clara Golf developments respectively are within an easy drive of the city centre and the Puerto Banus Marina as well as being close to some fine beaches. Increasingly buyers are also asking for amenities and services like international schools and hospitals to be close by.
Families in particular are quite happy to buy within the gated communities of golf developments, which are safe for children and offer great on-site amenities. Golfing greens have protected and uninterrupted views, too, so no wonder they are a hit even with people who are not that keen on playing golf. With 1 million golf tourists heading to Spain every year, buying in golf developments for holiday rental purposes as well as for family holidays is a winner all round.
The upmarket Santa Clara Golf resort and apartment complex does come at a price - with 2 and 3-bedroomed apartments with 3 bathrooms ranging at prices between EUR 424,400 and EUR 484,600.
Meanwhile, in Marbella West front line golf luxury homes with spa currently catching foreign buyers’ attention are exceptional value for money at prices ranging between ERU 380,000 to EUR 899,000 for 2 to 4-bedrooms with 2 to 4 bathrooms in a development that consists of low-rise apartment blocks beautifully situated in 50,000 sqm of landscaped gardens with splendid communal swimming pool, spa and golf course on the doorstep.
At another development key-ready apartments start at prices of EUR 291,000, ranging all the way up to EUR 631,000. This private development of 2 and 3 bedroom apartments is surrounded by three golf courses within a short walk of the Mediterranean Sea and boasts 180 degree views with a south-west orientation for all day sunshine.
The spa includes Turkish baths, a gym, sauna and massage facilities as well as an indoor swimming pool. Although for some the prices might seem rather high compared to other apartments in the Marbella area, but this development is located just a 10 minute drive from the world-famous Puerto Banus Marina, one of Marbella’s prime locations. The high-end specification and quality design of the apartments make this development a good investment.
In Puerto Banus itself spacious, luxury apartments with either 2 or 3 bedrooms and 2 to 4 bathrooms can be found for under EUR 500,000. The complex consists of 60 high-spec homes set in lush tropical gardens of 7,000 sqm. A large communal outdoor pool and various facilities like a Turkish bath, Jacuzzi, large indoor pool, sauna and onsite amenities together with stunning sea views make this a good investment, too.
The beach is just a 200 metre walk away, ideal for holiday lettings. The most expensive apartments in this exclusive complex are offered at around EUR 1,000,000.