News
The San Pedro de Alcantara tunnel works to be finished by Christmas 2011
The company carrying out the work on the San Pedro Alcantara underpass, OHL, has told the town that it will be finished by December this year (2011). The project affects six kilometres of the A-7 motorway as it passes through San Pedro But San Pedro’s Deputy Mayor, Miguel Troyano, has expressed his doubts over it being completed within the next few months. OHL has promised that before the end of the summer, the surface work will be completed and efforts will be focused on the tunnel, which... [Read more]
Marbella 2011 is enjoying the safest summer on record and it is thanks to the police
Marbella is having one of its safest summers ever, according to council spokesman and the council of Public Safety, Felix Romero. Only 36 people were arrested in the munipality during the month of July and it looks like the figures for August will be similarly positive. Felix Romero is very satisfied with these low figures and he attributes them to the efficiency of the Local Police force. Marbella is such a popular tourist destination that its population during the summer months rises to over 50,000... [Read more]
Malaga Airport boosts the Andalucian economy by 27 percent
Malaga Airport (Pablo Ruiz Picasso Airport) on the Costa del Sol is fiying high, generating 27 per cent of the province’s economy. Regionally, the recently expanded airport accounts for 5.5 per cent of Andaluda’s economy. This was revealed in a study carried out by the regional government, according to the Junta de Andalucia Delegate in Malaga, Remedios Martel. She made the announcement on the same day (Tuesday) Spanish workers unions called off the two days of strike action planned this... [Read more]
Signs of hope as the graph begins to turn upwards for Marbella property
Discounts up to 40% on existing housing stock has resulted in an upturn in housing sales in Marbella. A trend which historically means good news for the Costas. According to Ricardo Arranz, the president of the Andalusian Federation of Developers, sales of property have shown signs of reviving in the last few months, in Marbella and some other areas on the Costa del Sol, on the back of discounts of up to 40% off the original selling price. This is the first time the market has seen positive movement... [Read more]
The Spanish Government has reduced the Value Added Tax on the purchase of a new Spanish property
The Spanish Government has reduced the Value Added Tax on the purchase of a new Spanish property from 8% down to 4% for the next four months. Government Spokesman and Minister of Development, José Blanco, announced that the Spanish Government has decided to reduce VAT from 8% to 4% on the purchase of new housing, temporarily, until December 31st 2011. The initiatives were approved by Royal Decree, and put into effect immediately. This represents a saving of €8,000 on the purchase of a €200,000... [Read more]
New Marbella Marina Approved
The new Marina in the Puerto Pesquero La Bajadilla in Marbella finally got the go ahead a few weeks back.. Take a look at the Video by the company left with the responsibility of completing the project. Nasir Bin Abdullah & Sons S. L. Marina Marbella from jetcom on Vimeo. View Larger Map Read More →
New Port planned for Marbella
The La Bajadilla port, also known locally as the Puerto Pesquero on the East side of Marbella town is set to undergo a dramatic expansion, plans for which include commercial areas of over 12,000m2, car parking with around 250 spaces, a 5 star hotel and three times the current number of moorings. The project is currently in a tendering stage, with bids reported to have been made by the Qatar sheikh Nasir Bin Abdullah as well as some large Spanish companies and a handful of banking institutions. The... [Read more]
Spanish distressed property market set for 2011 expansion
Spain will see a marked increase in the number of repossessed and distressed properties coming onto the market in 2011, it has been suggested. Fernando Acuna of Pisos Embargados de Bancos, a Madrid-based listings website, noted that there are currently about 100,000 foreclosed properties on the market. Speaking to write-about-property.com, he predicted that this figure could triple in 2011 due to new rules enacted in September which have forced Spanish banks to be more open about their seized assets... [Read more]
Property In Marbella Is Set For A 2010 Revival
Property in Marbella and the Costa del Sol is expected to see a major revival this year, as buyers and purchasers collectively look to move on from the economic turbulence of the previous two years. The beginning of last year was incredibly slow for Marbella property, but once developers began making discounts of between 20 and 40 percent sales picked up markedly, a trend which is currently showing signs of longevity. There are a number of reasons to think that the rebound seen in Marbella real... [Read more]
Spanish Banks Offer Better Mortgage Conditions For Their Own Stock of Properties
Fifty year mortgages and up to 100 per cent financing are offered but only for their own properties. Developers call this unfair competition. Today´s house hunters have learned that visiting estate agencies and noting down telephone numbers on For Sale signs is not the only road to go down. A search for a property also involves scanning the websites of banks and other financial institutions that are trying to sell their growing stock of repossessed properties. While there are no official statistics,... [Read more]
Spain Shows The First Signs of Recovery: An Increase in Property Sales in 2010
In August 2010, 2,359 properties were sold in Malaga province, the best result since May 2008. Good news: after two long years of holding its breath, the property market can now breathe deeply again. There are indications that things are picking up, albeit in a rather timid fashion. The statistics released by the National Institute of Statistics (INE) states that in August 2010 25.6% more properties were sold than in the previous month and 29.5% more than in August 2009 when 1,821 homes were sold. The... [Read more]
Michelle Obama Visits Marbella
The American first lady Michelle Obama and her daughter Sasha are now holidaying on the Costa Del Sol. So far thay have being enjoying a visit to the charming Old Town of Marbella, the superb micro-climate and the wonderful Andalucian food. Staying at the Ritz-Carlton Villa Padierna Hotel is a great vote for what the owner Ricardo Arranz has created in the last ten years from scratch. The resort now boasts a 129 bedroom hotel, voted one of the top thirty hotels in the world, spa, conference centre,... [Read more]
Spanish Bonds Attract Global Investors
Date: July 9th, 2010 International investors flocked to buy Spanish bonds on Tuesday amid rising hopes that Madrid had averted a financial crisis and would not have to use emergency bail-out loans. The Spanish raised €6bn ($7.6bn) in 10-year bonds, with orders rising to €14bn in the space of just a few hours, as many international investors bought the country’s debt for the first time in months. Ralf Preusser, head of European rates research at Bank of America Merrill Lynch Global Research,... [Read more]
Ryanair Expands at Malaga Airport
Ryanair is to open it´s fifth Spanish operational base at Malaga Airport later this month. In addition to creating some 200 jobs, 19 new direct routes will be introduced to destinations in Denmark, Germany, Slovakia, Holland, Sweden, Norway, France, Italy and Finland. There will also be direct flights to Santander, Santiago de Compostela, Valladolid and Zaragoza. Read More →
The Sunday Times – Article dated 11th April 2010
Costa Living is Lower!…….. The Irish love affair with Spanish property has cooled in the past 18 months. With plunging property values, an unstable economy and a volatile banking system (not unlike our own), Spain has proved to be a dud deal for buyers. So why are the Irish returning? Estate agents in Spain say that since February investors from Ireland have been creeping back into the property market. Inquiries are up, primarily from cash-rich buyers or those who sat on the fence at... [Read more]
Sunday Mirror
July 9, 2006 Karen Rockett BUYING a home abroad is for most of us a journey into the unknown, so it’s essential to visit the location you’re thinking of to view properties first hand. KAREN ROCKETT is considering purchasing a home abroad and spent two days on an inspection trip in Spain to see how useful they can be for potential buyers… DAY ONE I’M met at the Malaga Airport by Geoffrey Donoghue, now Director of Always Marbella www.alwaysmarbella.com... [Read more]
Always Marbella Local Information
MARBELLA LOCAL POLICE OFFICERS LEARN ENGLISH Twenty-four new recruits to the Marbella Local Police force have started learning English as part of their training. It is seen as a positive step, as for the last 20 years locals and tourists alike have been asking why can´t any of the Local Police speak English when over 50% of the residents and over 80% of the tourists to Marbella and Costa del Sol are from other parts of Europe. Read More →
Starbucks for New Terminal at Málaga Airport
Starbucks, Whopper Bar, Caviar House & Prunier, Soho Coffee, Pizza Hut, O´Leary´s, Upper Crust and Gambrinus are some of the famous names that will occupy the 21 food premises which are all spoken for at Malaga Airport´s new terminal. The food retailers will occupy six thousand square meters of floor area. Whopper Bar is a new concept of burger bar launched recently with only two other branches open so far, in Germany and the USA. The new shopping areas cover two thousand, eight hundred square... [Read more]
New Terminal at Málaga Airport to be Ready for Next Easter
Update April 2010:, The new Terminal is now open and functioning smoothly. During and since the opening there have been no major operational issues due to the changes. December 2009: The new terminal at Malaga airport is being delivered at Easter 2010. Costing in excess of €300m the new facilities will be able to cater for double the number of passengers that the existing Terminals 1 and 2 currently cater for, at 9,500 per hour. The new structure is now built and one can see the flight monitors... [Read more]
Investment News!
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