New project in Nueva Andalucia
The property market on the Mediterranean Coast continues to attract foreign buyers, especially in glitzy Marbella.
The town’s location between the sea and the mountains gives it a micro-climate unlike the rest of the country, and along with its numerous golf courses, hotels and beaches, the area remains popular.
The reappearance of cranes on the horizon confirm that New developments are on the increase and are selling out quickly. One promotor sold half of an off-plan development, all to foreign buyers, in only five months. The development is located in the highly sought after area of Nueva Andalucia, and half of its 42 properties were sold since hitting the market in January.
As always, Location, Location, Location, is the key. The properties all have views out to the sea and to golf courses and are just the type of property to attract foreigners to the coast. The properties are an average of 120m² and with prices from 575,000 euros they are at the mid-range of the market. However, foreign buyers have flocked to it and snapped up most of the properties.
A representative of the developer said the buyers were mainly British, Dutch and Belgian.
Interest in mid to high-end property from foreign buyers has steadily increased over the last few years with properties selling fast in areas such as Marbella, Estepona and Benahavis.
As the recovery continues the coast expects to see more and more foreign buyers returning to the sun to snap up a new luxury property in one of the most popular, and sunniest parts of Europe. Marbella was popular before the crisis, throughout the crisis and now the recovery is in full swing, it is once again on the list for those seeking an overseas property.
Marbella For Sale currently have numerous new developments for sale in the Marbella area. You can see them all here.
