The Costas have long been a popular holiday destination with the Spanish, offering good weather, long sandy beaches and varied scenery.
According to Spanish property portal, Kyero.com, the Costa offering the lowest property prices is the Costa Verde where the average property price, as of March 2008, is €156,000, 36 per cent less than the Spanish national average.
The Costa Verde offers peaceful beaches and traditional picturesque towns.
In contrast, the most expensive Costa is the Costa Maresme – in the province of Barcelona – where average house prices are high due to the excellent infrastructure and good economic prospects on offer. Here, the average property price as of March 2008 is €599,000, 144 per cent over the national average of €245,000.
The Costa del Sol has seen average property prices decrease from a high of €308,000 in 2006 to €305,000 in 2007 and to a current average of €297,000 in March 2008. The disappointing winter of 2007 for Costa del Sol tourism (as reported by the Association of Hoteliers) has accelerated this decrease in house prices, as has a move towards the cheaper and less developed Costas, this hitting areas such as the Costa del Sol hard.
One Costa benefiting from this transition is the Costa de Almeria in the province of Almeria to the east of Malaga, which ranks as the third cheapest Costa but has seen a steady increase in property prices in the last 2 years. From an average price in 2006 of €190,500 with an increase of three per cent in the course of a year to an average of €196,250 in 2007, and up another one per cent to a current average property price in March 2008 of €198,000, the Costa de Almeria is experiencing an increase in popularity. With great geographic diversity and an unspoilt coastline, it is easy to see why this area is seeing a rise in property prices. A mild climate and around 3,000 hours of sunshine a year sets it apart from other more affordable Costas such as the Costa Verde and therefore the popularity of this area is set to grow still further.
With the highly publicized popularity of the Spanish Costas, it is easy to think that you know all there is to know about these coastal destinations. However, with such diversity across the 15 Costas there is still so much to discover and something to offer every tourist and in turn property investor.
PROPERTIES
La Heredia
Spread over two valleys in the foothills of the Sierra Bermeja on the cosmopolitan Costa del Sol is the 900 acre paradise of Monte Mayor Golf & Country Club, La Perla International Living’s flagship resort development in Spain. Here, residents enjoy not only the best weather in Europe, but also the unspoilt beauty of the Andalusian countryside.
The development offers a secluded rural refuge, yet remains within minutes of the bustle and excitement of the coast. Whether buyers prefer the natural beauty of the golf course designed by Jose Gancedo, the rugged hills or shimmering water panorama stretching all the way to Africa, the views at Monte Mayor are incomparable.
There are a range of superb plots located throughout the landscape of Monte Mayor. For those who prefer living in a more intimate interconnected community, luxury townhouses are also available in the private mountainside village of La Heredia de Monte Mayor offering wonderful views sweeping out over the Mediterranean to the African coast.
La Heredia will be comprised of 135 two-, three- and four-bedroom luxury townhouses. Each has a unique design and includes fireplace, double glazing, under floor heating throughout with individual climate control in each room, garage space and a storage unit.
Townhouses start at €695,000 (two-bed/two bath) and range to €995,000 (four-bed/four bath). Villas start at €930,000 (four-bed/four bath) and range to €1,050,000 (four-bed/four bath).
For more information contact La Perla International Living on 0031 205894070 or visit laperlainternationalliving.com.
Marbella Royal Suites
Marbella Royal Suites is close to the idyllic whitewashed village of Benahavis in the middle of the Costa del Sol. Situated on the doorstep of El Paraiso golf course and under ten minutes drive from the golden sands of the Mediterranean Sea it is also easily accessible to the sophisticated lifestyle of Marbella and the renowned and beautiful Puerto Banus, home to the trendy and wealthy.
This exclusive development brings to the market a selection of ‘turnkey’ one-, two- and three- bedroom apartments. Impressive on site facilities put the emphasis on luxury and includes swimming pools, a fully equipped fitness centre, landscaped gardens, comprehensive business facilities and 24 hour security. This five star investment opportunity is currently 30 per cent below the official bank valuation with an anticipated R.O.I of at least 12 per cent. Via a seven year leaseback scheme, owners will earn 50 per cent (anticipated £10k per annum) of ‘pooled’ income generated by the suites and enjoy up to 56 days personal usage each year for no additional cost. 100 per cent mortgages are also available subject to status.
Prices at Marbella Royal Suites start from just £99,000. Visit ownerinvest.com or call 0800 048 0712 for more details.
Duchy Estates
Duchy Estates has teamed up with global luxury lifestyle brand, Kasamia, to launch their flagship condo-hotel – Pueblo Acantilado Suites. The charming cliff-top resort is close to Alicante in southern Spain and provides a dreamy romantic hideaway for its guests as well as a rewarding opportunity for investors. Fully approved for SIPPs with all the associated tax benefits, Pueblo Acantilado Suites is forecast to return more than six per cent from year one and that excludes capital appreciation.
Following a 10 million euro refurbishment, the 96 exceptionally appointed one- to two-bedroom suites have access to a wealth of on-site amenities. Swimming pools surrounded by spacious sundecks, a Roman-esque amphitheatre, a 600m² spa and gymnasium and Kasamia Tapas & Martini Lounge are all set against a backdrop of dramatic Mediterranean Sea views. A concierge is on hand to arrange à la carte services from in-room massage to housekeeping and laundry plus event catering, childcare and personal shopping.
Guests will be shuttled in comfort between Pueblo Acantilado Suites and the nearby sandy beaches and first-rate golf courses.
Investors can also become guests, enjoying up to eight weeks’ personal use per year, generally at no additional cost, and reveling in all the on-site amenities. At just 25 minutes from Alicante International Airport weekend breaks in the Spanish sunshine will soon become a way of life.
Freehold prices at Pueblo Acantilado Suites start from €180,280 euros (£141,682 pounds) for a one-bedroom suite. 70 per cent LTV mortgages are available and the current €10 million refurbishment programme will complete ready for opening on 20 June 2008.
Show flat is available for viewing. Contact Duchy Estates for details of subsidised inspection visits to the resort on UK freephone 0800 849 8089 or call the Spanish office on 00 34 952 906 944.
Alternatively visit duchyestates.co.uk. .