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More Moorings for Marbella
La Bajadilla Marina is to undergo a significant extension and modernisation. Property investors feel that this will attract more tourists to the city and add further impetus to property investment activity around buy to let opportunities.
By: Michael Liggan
The organisation of Sheik Abdullah ben Nasser Al-Thani, the owner of Malaga football club, have announced that they are intending to invest over 400 million Euros to significantly redevelop the marina. When completed the marina will provide an additional 500 berths situated around a spectacular circular quay. There are also to be a wide choice of shops and bars. A 200 metre quay for cruise ships is also to be constructed, so bringing further tourists to the resort.
In addition to that there is to be a five star waterfront hotel which will bring further wealthy visitors to the city and give competition to the nearby Puerto Banus resort. Further transport news is that the AVE rail link to Marbella is also soon to be completed thereby adding more incentive to tourists considering Marbella for their holiday.
This is all very good news for British investors considering a property purchase in Marbella. Suitable properties for buy to let are available at considerably discounted prices at the moment. There are many good quality homes available on the market that are both resales and new.
Many commentators on Spanish property are saying that the time has never been better for buy to let investors to enter the market. The main banks are being pressured by the Spanish government to release thousands of repossessed properties onto the market thus giving investors a very wide choice. The pressure on the banks also means that they are offering extremely attractive mortgage packages to British buyers.
Adding to the good news is that tourism figures for the current year are showing significant increases. Despite poor economic news and the difficulties of the famous travel agents, Thomas Cook, tourism to Spain is more popular than ever. This could have a lot to do with comparatively low prices for food and drink. Figures recently published by the Self Catering on a Shoestring Barometer 2011 are showing that prices in Spain are far lower than in the UK. A standard shopping basket of goods in Spain was bought at a cost of £44.23. The similar standard basket bought in Brighton in the same week cost £63.63, a reduction of more than 30 percent.
Property experts in Marbella are saying that the redevelopment of the La Bajadilla Marina is very good for property prices in the city and will add further stimulus to the turn-around of the market.
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Alta Vista Spain is a real estate company in Marbella on the Costa del Sol, Spain. Michael Liggan is a driving force and our chief property bargain hunter.