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Marbella Property Still the Jewel in the Crown

Date Added: November 10, 2009 01:15:17 AM
Category: Business Directory: Real Estate

Susana Suspenda marketing director of Spanish Hot Properties explains why he believes that Marbella is Jewel in the crown of Spanish property and also give his views about the state of the Marbella property market I thought it would be a good idea to go into detail for you about why Marbella is the Jewel in the crown of Spanish property and a bit about the Marbella property market For the people who decide to live here, Marbella is Magical for many reasons: • Classy people in a classy place: Marbella has always stood out as the “Jewel in the Crown” with respect to quality, which started with its jet set image in the 1960’s with the world famous Marbella club which my parents were very much part of, and it has successfully broadened the jet set definition over time. It is low-rise, despite overbuilding in certain but very limited areas of the municipality, and offers extensive green areas, now highly competent local administration and more respect for the environment than any other Coastal City. • A 365 day season: Marbella is a city full of life even in the winter months. it is unequalled by any other resort city in Spain or indeed the rest of Europe. Due to a core “off season” population of more than 250,000 people, it is able to offer a variety of public and private events and parties, concerts (with artists such as Gloria Estefan and Simply Red playing in Marbella last year), nightlife, glamour, excitement, superb restaurants and trendy bars, all year round. For the many that choose a quieter life, the nature and in this part of Spain is unique. Simply put Marbella is unique • Sports facilities , not the least of which are the 34 golf courses within a half hour drive from the city as well as Surfing (1 hour drive to Tarifa) and great Tennis clubs to name but a few .What is Special about Marbella Real Estate? Marbella offers property for all tastes and most budgets. The minimum “quality” level price starts around €250,000 for a one or two bedroom apartment, and the most exclusive properties go up to well over €10,000,000 in price, with the largest bracket of property availability priced between €350,000 and €1,200,000. As for what is special about Marbella real estate that is simply answered the majority of it is quality but most importantly it’s in Marbella How is the Marbella property market holding up and are there any real bargains to be had. After an autumn and winter of very low sales volume, as potential purchasers were waiting for prices to drop but since April there has been real signs of life In the property market with sales actually starting to take place in reasonable volume. The market is dominated by bargain-seekers who have now entered the market with some strength, and sellers who have dropped their prices, in general, at least 15% and up to around 35% from market peaks two years ago. Properties are currently selling in the area of prices achieved between 2002 and 2004. The speculator has disappeared from the market, which is a healthy sign. People buying properties here are doing so mostly for their own use and their own quality of life. Not withstanding that we still see the incredible bargains such as Dama La Noche which people who have been sitting and waiting cant ignore . What would your best advice be potential Marbella property buyers? It certainly appears that the market in Marbella unlike the rest of Spain has touched the bottom, but it will be several years before a full recovery can take place. As there is now a reasonable sales volume which was absent in prior months when it was safe to say it was suicidal to be an real estate agent, We are at the beginning of a long road towards recovery, and an excellent time to purchase property in Marbella. However, there is not a large number of high quality properties in the best areas available for sale in the first instance. The real bargains are now getting snapped up quickly and are not always being replaced. Well location is everything and the better the location the better the property price has held up in the recession. And negotiating the purchase of a property today is not easy. Buyers need good market knowledge of comparable sales, which a good agent will share with them. And a buyer should choose an experienced agent who has all his paperwork in order with respect to the property, and who has good negotiating skills. Also a good agent will know a good Lawyer (Abogado) who is not acting for the seller and in Marbella especially that is a must. So to recap if you buy now in Marbella you will be buying at the bottom of the market which really is the best time to buy however don’t expect to see the value of your property increase greatly in value in the short term. We here at Spanish Hot Properties are here to help and give advice if you need it.

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