November Newsletter 2009 Marbella Property

Today is the 1st of November and it has been a beautiful sunny day in Marbella with the temperature rising to 25º C. People have taken advantage of the climate doing outdoor activities such as golf, tennis, paddle tennis, jogging or walking along the sea promenade, sunbathing in gardens, by the pool or on the beach, or simply sitting on a terrace of a cafeteria or restaurant sipping a glass of wine, having a coffee or a meal.

A typical sunny day in Marbella while the rest of Europe is cloudy, rainy and cold.

Therefore, it is not a surprise that Marbella properties are starting to sell. Although it is not clear yet if we are out of the recession, Marbella property is still in demand. Buyers are taking advantage of the worldwide economic situation and are snapping up great deals.

What with owner’s lowering their prices as they need to sell, plus British vendors being able to lower even more their prices due to the exchange rate, the result is that there are some very competitively priced properties in Marbella. In December, 2007 the pound was worth almost €1.40 whereas now it stands at approximately €1.11.

Apart from the recent sales achieved, we have noticed many more enquiries and visits lately. The word is definitely getting around: “It is the right time to buy a property in Marbella”. What is more, one of the recent sales we closed was on a villa in Nueva Andalucía where we were able to get a mortgage for the purchaser. So it looks like Spanish banks are also willing to lend money to overseas purchasers for Spanish property. It is true nevertheless, that banks are more cautious and prefer to loan between 50% and 60% of the purchase price. They will also ask for abundant information to prove that the purchaser’s yearly income should be 3 times the yearly mortgage payments.

On another front, the town hall of Marbella went ahead with the provisional approval of the Urban Master Plan. This provisional approval is the last stage of approval by the town hall. Now it goes on for final approval to the “Junta de Andalucía” which is the regional government. There should be no surprises as the Plan was drawn up by the Junta architects and the few changes introduced by the town hall were previously agreed with the Junta. This is very good news for Marbella as it shall give legal security to all planning and urbanistic issues and put an end to many speculations on demolitions of certain buildings.

This weekend the Volvo Golf World Match – Play is being held at Finca Cortesin. This is another great event for the Coast after Marbella held the Davis Cup Semi-final between Spain and Germany in July this year. Previously, the Puente Romano tennis club celebrated a worldwide ladies tennis tournament with great players such as Serena Williams. All these events help to keep Marbella at the forefront.

If you are considering to buy a property in Marbella, we strongly advise you to make a move this winter as Marbella property is definitely moving.

 

For further information on all our properties, rentals and management service, visit our website on www.villamarketing.com

Also find below a link to an article re recent news on UK tax reliefs on overseas properties. UK Tax Reliefs on Overseas Property

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Marbella Elite Homes

Our Elite Homes Division may offer you some of the Best Properties in Marbella. From Luxurious and Exclusive residences, to Ultra-modern Intelligent Homes, to Charming Andalusian rustic villas, be sure we have what you are looking for.

Marbella: Price Reduced

Some of our Marbella properties have seen their prices reduced by their owners so as to achieve a sale rather sooner than later. These properties represent competitive value in today's Marbella property market. Click here to see details of these properties in Marbella.

 

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Our rentals department can offer you also a quality selection of holiday rentals in Marbella and also long term rentals on the Costa del Sol. Please, check our property rentals section to learn more.

 

Luxury Marbella Rental Villa

Royal Roman Empire

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