Banderas, Nadal… and Positive Market News
The focus at this time of the year tends to be directed more towards holiday than residential tourism, especially as Spain is the in vogue European destination for summer travellers. However, it is also true that many people visiting the Coast in August like to mix business with pleasure – taking the opportunity while on holiday to check out potential properties for a second home in the sun, or even to move permanently to southern Spain.
And the news continues to be positive for both buyers and sellers, as confirmed in a new study by Aguirre Newman. According to the real estate consultancy, it is now taking less than half the time to sell a new development on the Costa del Sol than it did one year ago (they compared the periods May 2014-May 2015 and May 2015-May 2016) – i.e. 23 months on the market compared with 55 months previously.
Aguirre Newman also determined that the supply of new homes had increased for the first time since 2007 (five per cent), with 49 developments currently under construction on the Coast. Average prices ranged from €223,050 (133 square metres) for an apartment to €1,007,694 (425 square metres) for a single-family home. Marbella led the way for new projects, with Estepona and Mijas Costa also expected to experience significant growth in the next few years.
And the bottom line for Aguirre Newman? There will be ongoing international demand for new developments on the Coast, Spanish national interest will also rise as the economy continues to improve (they expect demand to rise by six to seven per cent over the next year), and the price of apartments in new developments will increase by eight to 10 per cent in such pacesetting municipalities as Marbella, Estepona and Casares.
Summer Snippets
Antonio Banderas will be back in Marbella tomorrow (6 August) for the Starlite Gala he co-hosts and which raises funds for several charities. This year marking its seventh edition, the gala has previously been supported by top celebrities including Boris Becker, Joseph Fiennes and Jermaine Jackson, and has honoured the humanitarian commitments of Mia Farrow, Carlos Slim, Deepak Chopra, Daryl Hannah and Melanie Griffith. While home (Banderas has a penthouse apartment in Málaga city and a villa on the outskirts of Marbella) he will also be able to celebrate his 56th birthday on 10 August.
Meanwhile, today (5 August – or tonight central-European time) the Olympics begins with a flourish in Rio de Janeiro, and bearing the opening ceremony flag for Spain will be Rafa Nadal, who won a gold medal in the singles at the 2008 Olympics and, in spite of an extended absence from the sport due to injury, is planning to compete in the singles, men’s doubles (with Marc López) and mixed doubles (with 2016 French Open champion Gabine Muguruza).
While away from the competition courts, Nadal has remained “active” in another time-honoured celebrity manner, especially those (like the Mallorcan-born star) with a passion for the sea: entertaining family and friends on his new €3 million boat. He and girlfriend Francisca Perelló had travelled to Cannes last year to check out the models on show at the Côte d’Azur city’s annual boat show, and they eventually opted for a 23-metre cruiser from Monte Carlo Yachts.
Luxury Living
Staying with the luxury yacht theme, we head to Sotogrande Marina for this week’s featured property: a superb five-bedroom duplex apartment in the Pez Barbero complex priced at an excellent €800,000.
Exceptional Homes
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