There has been a surge of interest from Russians looking to buy residential property in Marbella this year having been attracted by the region’s climate, glamorous lifestyle, beautiful scenery and choice of upmarket homes, it is claimed.
Fine & Country said it has had a large number of Russians visit their office at the Marbella Club Hotel over the summer months, according to Laurent Coulée sales director.
‘The number of Russians looking to buy homes in the area has doubled since last year. They are typically looking for high value properties on the coast and on exclusive estates such as La Zagaleta and Sierra Blanca that are renowned for their good quality homes and high levels of security,’ she said.
Part of the attraction to buy property in Marbella is the amount of flights available from Russia to Malaga. Twenty airlines have direct routes to Malaga from major cities and from Moscow there are 81 flights per week. Marbella is regarded as a manageable 45 minutes drive from Malaga airport.
‘If Russians buy property in Spain, they are able to obtain a visa for visits and this has the added benefit of making travelling around Europe easier. Many also prefer to invest in property in another currency to spread the currency risk, so as to not have all their investments in the Ruble,’ explained Coulée.
The higher end property market in Marbella and the surrounding region has remained buoyant during the economic downturn and has been given a recent boost by plans to build a new port and marina just east of the centre that will be one of the largest projects undertaken in Marbella recently. The €100 million investment by Qatar Sheikh Abdulla Ben Nassar to transform the existing port will see provision for over 1,200 berths, capacity to take cruise liners, plus construction of a new hotel, shops and restaurants.
Southern Spain is also seeing more interest in golf properties. ‘The golf tourism sector has proven to be a resilient and reliable market that never really seems to falter even when the chips are down,’ said Marc Pritchard, sales and marketing director of Taylor Wimpey España.
‘For example, Los Arqueros Golf and Country Club, an 18 hole course is one example of a quality golf course in Spain that has performed remarkably well. During the last 11 years we have developed and sold more than 1,200 apartments, villas and detached villas in Los Arqueros. This year Los Arqueros celebrates its 20th anniversary is the third most popular golf course of 2011 in the official ranking of the Costa del Sol,’ he added.
He also pointed out that buying on a golf course offers more benefits than just playing golf. ‘I would advise anyone thinking about buying in Spain to consider a golf property. You are buying into a community spirited neighbourhood that affords excellent facilities and green surroundings as well as potential high returns from consistent demand should you chose to rent the property out,’ he added.
