One place that is enduring in its appeal is the affluent and glitzy yacht marina of Puerto Banus . People simply love visiting the place. They travel from far and wide to sample the huge array of restaurants, shops, bars, nightclubs…..you name it, Puerto Banus has got it. It appeals to all sorts – families, couples, singles, golfers, hen and stag parties.So I guess it stands to reason that buyers who are looking at their Spanish property investment from a long-term perspective, as outlined in Part 1 of this article, would be flocking to Puerto Banus. And this is where the age-old rule of ´supply and demand´ kicks in. There is only a limited number of quality properties available for sale within walking distance of the port. One of the most luxurious of these is La Alzambra ….and it doesn´t some cheap. Typically, 2 bed apartments in La Alzambra start at around €600,000, with 3 bed properties fetching upwards of €800,000. Of course, for that sort of money you can expect a supremely spacious, luxurious pad with all the mod cons, lagoon pools, tropical gardens and 24 hour security, but the thing that may amaze some people is that demand for properties at La Alzambra is high. In fact, the demand for stock hasn´t really abated, even during the economic crisis. Buyers recognize that the location and specification is ´5 star´ and that there is rarely a sniff of the words ´distress´ or ´discount´ in the air. And for good reason too. As well as the benefits already mentioned, owners of properties at La Alzambra can fetch top-dollar rental returns, €8,000 per month in peak season being the norm for a 2 bed apartment. So while all those unwanted and unloved bank repossessions in low-end, unpopular locations lie vacant, depreciating fast, a place like La Alzambra is forging ahead as a true recession-buster in the midst of a supposed collapsing housing market. Related Posts La Alzambra – Forging Ahead in the Crisis!…Part 1 Spain Increases its Austerity Measures Advice to Buyers – Who Can You Trust in the Spanish Property Market? - PART 1

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La Alzambra – Forging Ahead in the Crisis!…Part 2

I´ve been out of action for a couple of weeks alter breaking my jaw. Having reached the age of 41 without breaking a single bone in my body, I managed to visit 4 hospitals within a 24 hour period, so I am now the resident expert on the Spanish healthcare system! I was initially taken by ambulance to the Costa del Sol Hospital in Marbella , where (apparently!….I was unconscious for most of the time) I was looked after very well, and the various procedures and treatments were explained to my partner via an English translator. I was then transferred to the Carlos Haya Hospital in Malaga, a bumpy 50 minute drive in the back of an old knackered ambulance. I didn´t stay too long at the Carlos Haya as the staff there preferred to transfer me (again!) to the nearby Civil Hospital in Malaga where a specialist in Maxillo-Facial surgery is apparently in residence. I was given my own room with a tv and en-suite facilities…it even had a spare bed, but was told that the specialist wouldn´t be able to see me for at least another 36 hours (this was now a Saturday evening). I wasn´t really in the best of shape, covered in bruises and scratches, jaw broken to pieces and missing my front teeth. I managed to get some sleep on the Saturday night, but swiftly decided to check out on the Sunday morning when I was offered a piece of cake and a sandwich for breakfast (!!), one of the nurses started ranting at my partner for his poor knowledge of the Spanish language, and then to top it all, they decided to move another patient into the same room…..along with an entourage of about 20 members of his family. No way, Jose! So I ended up going to the USP Hospital in Marbella (I am a member of Sanitas, so receive subsidised private heathcare). Within half an hour, I had been seen by a doctor, x-rayed and been given advice to be able to treat the injury at home. When I returned to the hospital 48 hours later, I saw a specialist who advised that I would need surgery that same evening, until his colleague advised that he would be able to treat the broken jaw with an elasticated brace and physiotherapy. What an ordeal! Anyway, I now feel in very safe hands and am well on the road to recovery. I´m still on a soft diet but at least I have new teeth! And while I´ve been very fortunate with the timing and have been able to watch every single World Cup game on the tv during my recuperation, I am wary that I may be the only person to have broken his jaw and likely to end up fatter than he started! I blame M&S mashed potato and chocolate mousses! Related Posts Registering with a Medical Centre in Spain No Sex and Better Parking in Marbella Underfloor Heating – WOW! I´m Impressed!

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4 Spanish Hospitals within 24 Hours!

We have just been offered the opportunity of working with one of the leading Spanish high street banks, who want us to help shift their large stock of repossessed Spanish properties . We´ve been given access to a very smart computerised database in which we can find Spanish properties for sale in a variety of regions. We can see an overview of the details of each property with measurements, a picture, a bank valuation, and importantly the current sales price that the bank is after.The first thing that hit me was that although this particular bank´s repossessed properties can be found in most of the popular Spanish property hotspots, the majority of them are located in areas that saw a glut of construction during the years of the recent Spanish property boom. There aren´t so many repossessed Spanish properties located in the very best, most established areas, eg Marbella or Puerto Banus on the Costa del Sol, or the villa enclaves of the Northern Costa Blanca, for instance. The other thing that I noticed related to the pricing. In most cases, the bank´s asking price was actually higher than comparable stock currently for sale within the same locality or on the same development. There were certainly no ´giveaways´ as you would maybe expect with this kind of deal. So if buyers are solely interested in securing the best price for a property in Spain , it seems that the banks fail to deliver the best deal. However, the one key advantage of buying a bank repossession in Spain is that you are likely to be able to secure a very good mortgage deal, with banks so keen to offload their stock that they will even provide a 100% finance facility if you can simply prove to them your ability to repay the monthly amount. If you don´t mind paying 20% above the price that you could otherwise haggle with the distressed vendor of a similar property, and if you are looking for a minimal cash outlay, then bank repossessions may be the way to go. But remember that if you are mortgaged to the hilt and you have paid over the odds, you won´t have any wriggle-room or an escape route if the market flatlines for a while. You pays your money and you takes your choice!! Related Posts Spanish Property Buyers Lose Out to Bank Staff! The off-plan property market in Spain – Part 1 Repossessions in Spain – worth the fuss??

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Spanish Bank Repos - No Big Deal

Sterling has risen to a nineteen month high against the euro. The euro sterling exchange rate passed through the critical barrier of 1.20 earlier today, the highest point it has reached since the gloomy days of December 2008 when sterling was at near-parity to the euro, trading at a rate of 1.02This is an important day for the Spanish property market, as Brits have traditionally made up the single largest group of overseas buyers. Many prospective British buyers had been delaying investing in property in Spain until sterling improved, with many hanging on for rates of 1.20 and 1.25. Now that the rate of 1.20 has been breached, perhaps this will add to the recent stimulus in interest in the Spanish property market? In simple terms, this all means that a property that has been on the market for €200,000 is now just under €30,000 (sterling) cheaper than it would have been in December 2008 at the same price. That´s a big saving in anyone´s language. Long may it continue….although it seems my cheap holidays to London may be coming to and end!! Related Posts Sterling Rise Sees Brits Buying in Spain Sterling is Rising! The Sterling Euro Exchange Rate – Does Anyone Really Understand?

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Sterling Breaks Through 1.20 Against the Euro

Nikki Beach , the prestigious chain of glamorous beach-themed clubs and eateries, opened its doors in Marbella for another summer season on Thursday last week. The White Party at Nikki Beach , traditionally the first event of the summer, saw a packed house, with a strict dress code of all white, and a great party atmosphere all night long. Nikki Beach is one of the most exciting venues on the Marbella nightlife scene, but is also popular with guests seeking an exclusive environment for lapping up the sun and indulging in fabulous food and drink during the daytime. Nikki Beach is based on the sand in front of the Don Carlos Hotel in Elviria, just a short drive to the east of Marbella town. There are many lovely properties for sale in Elviria , including beachfront apartments and penthouses as well as some great Elviria villas for sale . Related Posts Gay Life in Marbella Fabulous Opportunity in Elviria Summer Night Racing in Mijas

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Nikki Beach Opens its Marbella Summer Season

Many people ask us what we consider to be the best value golf resort in Southern Spain . Our answer every time is quite simple – it has to be Los Arqueros . Firstly, its location is superb, neighbouring the private villa estate of La Zagaleta , the most expensive place to live in the whole of Spain, and just 10-15 minutes drive from the beaches and amenities of the jet-set marina of Puerto Banus. Furthermore, the nearby high-speed toll motorway affords easy access to the airports at Malaga and Gibraltar. Los Arqueros Golf Resort features an impressive 18 hole golf course designed by Seve Ballesteros, an elegant clubhouse with restaurant, bar, gymnasium and squash court, plus pro shop, practice area and tennis courts. In addition, a commercial centre is currently under construction that, when completed, will offer a further array of shops, bars and restaurants. To top it all, there is 24 hour security on site. However, the real features of Los Arqueros are the views, with most properties within the area benefiting from views of golf, mountains or the Mediterranean……and sometimes all three! With several different developments of apartments and penthouses, plus a selection of outstanding detached villas and townhouses, Los Arqueros properties offer something for everyone. Prices at Los Arqueros currently start from around €169,000 for a 2 bed 2 bath apartment, outstanding value for a property of around 90m2 within such an exclusive environment. Expect to pay between €200,000 and €300,000 for a 3 bed property at Los Arqueros . This is a truly beautiful and outstanding setting in which to invest in a top quality golf resort in Southern Spain. Related Posts Stunning Prices at Los Arqueros Your Key to Spain wins a prize!….thanks to its top golfer Finca Cortesin - The best hotel on the Costa del Sol?

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Los Arqueros – Best Value Golf Resort on the Costa del Sol

The Spanish are at it again. After the tales of woe coming from Greece´s economic crisis, it wouldn´t be a complete surprise if Spain followed suit. The Greek debt issues seem to be a result of wasteful and lavish public expenditure, protected pension rights and so-called jobs for life. Now that the Greek people are being asked to change their ways, they are not surprisingly rebelling, asking the government why they should have to change. After all, isn´t this the way things have always been??To a certain (albeit lesser) degree, Spain is in danger of following the Greeks down this slippery slope of debt, inefficient working practices and wasteful public expenditure. We are in the midst of a crippling economic recession, with countries around the world trying every which way they can to drag themselves towards some sort of recovery. In Spain, it seems the priorities are different. Take this weekend´s classic example. It´s Saturday 1st May, it´s 25 degrees in Puerto Banus , perhaps Spain´s most notable tourist destination, there are thousands of local residents and tourists alike looking to spend a lovely weekend in the sun, perhaps hitting the beach for an hour or two and having a nice long lunch, before heading to the shops and department stores to spend their hard-earned dosh. But that´s just the problem………..they can´t. The shops are shut. You see, in Spain, May 1st is Labour Day, which means that you are not allowed to work. So everyone enjoys a day off. Even the shop workers. Even the cleaners who keep the loos clean on the promenade between Marbella and Puerto Banus (yes, you are right, they are shut as well). All these people with money to spend….in the midst of a recession….in a tourist haven……….and they have nowhere to go. So you may think the answer would be to open the next day to compensate for the holiday. Ah yes, that would be a great idea, but for one thing……it´s a Sunday, and nothing opens on a Sunday either. So we have spent all of our bank holiday weekend here in Spain (bearing in mind that most people were paid their monthly wage on Friday), with nowhere to spend our money. Imagine that happening in England!! Related Posts Costa Blanca Bargains Making it up as They go Along! Bank Holidays in Spain - Part 2

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Spain´s Shops Remain Firmly Shut!

The recent travel chaos has not just hindered people seeking to return to the UK from overseas. It has also prevented prospective buyers of properties for sale in Spain from making the journey from Northern Europe to inspect potentially suitable Spanish properties . This week alone, we have seen cancellations of property viewings from clients that were due to fly from Dublin, London and Brussels, while the leading agent for Costa Blanca properties reported 18 appointments cancelled within the last 7 days. That´s a lot of business lost, or at the very least, postponed, and many agents are reporting that those clients determined to make it over to snap up those Spanish property bargains are all trying to re-book to travel to Spain next week. This is likely to put severe pressure on agents´ resources, with agency staff likely to be unable to cope with such an intensive workload. For those clients who have been delayed here in Spain, there have been various tales of woe. One set of clients who purchased a property on the Costa del Sol have been delayed for 7 days and are due to fly back this weekend, while others have opted for various methods of ´escape´, including using trains, boats and hire cars – all adding to the expense of their trip. Of course, just when we needed the weather in Spain to be kind to those left frustrated and spending an extra week here, the heavens have opened, so now most of those same people are even more desperate to get out! Related Posts Winter Finally Arrives……with a vengeance! Malaga is Top Flight Destination for Brits Iberia - Pricing itself out of the Domestic Market?

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Travel Chaos Adds to Spanish Property Woes

For those amongst you who thought that estate agents in Spain are sitting in the sun (or most probably the rain!) with nothing to do because of the depressing Spanish property market and its lack of buyers……….think again! We sent a newsletter out to our client base last week, advertising a new development of semi-detached villas and townhouses on the Costa Blanca , located in the popular area of Villamartin. We pointed out that these Villamartin properties were being finished in a contemporary style and would offer top specifications in a great location………….and all offering (in our opinion) great value for money, with prices starting at €119,000 We expected the properties to sell fairly quickly, but nothing could have prepared us for the phone call from the developer this morning, advising us that all 15 properties in the first phase have now been sold. That´s 15 properties sold within a week – that´s more than 2 a day!! The deal looked so good on paper that we actually had 4 clients due to fly out to see the development this week, all saying they were keen to reserve a unit once they had taken a look. It seems they have been beaten to it…and it means that we will need to hunt around for options. Anybody have any bargain properties on the Costa Blanca ??!! Related Posts Costa Blanca Bargains Costa Blanca Bargains – A Better Investment than Cash?? Costa Blanca Property: Good Prospect for Investors

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Cheap Costa Blanca Villas and Townhouses - ALL SOLD OUT

Great news for hotel operators on the Costa del Sol . After enduring a rain-ravaged winter and although we are still in the midst of a crippling recession, many hotels on the Costa del Sol are reporting that they expect to be completely full over the Easter period, compared to around 80% occupancy during the same period last year.This encouraging news is also backed up by reports from Thomas Cook in the UK, who reported a 30% increase in foreign holiday bookings compared to 2009, as sun-starved Brits head for warmer climes. In fact, despite the horrendous weather in February this year, there were still half a million hotel room bookings between Torremolinos and Marbella . Related Posts Tourists Flock to the Costa del Sol Despite Recession Terra Sana Restaurants in Marbella Alan Sugar Purchases Byblos Hotel in Mijas

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Hotel Occupancy Looks Healthy on the Costa del Sol