MALAGA is getting a huge new marina for mega yachts of the super rich.

Bidding has been opened for the space at the Marques de Guadiaro dock in the city’s port.

With the maximum bid set at €9.5 million, interest investors have three months to make their offers before a winner is announced in February.

The new marina will accommodate a maximum of 40 vessels, from 30 to 100 metres in length, and will cover 41,484sqm of water and 4,830sqm of land.

There will also be a 770-metre pier.

It comes after it was announced that the famous Four Seasons hotel is coming to Marbella in a bid to bring ‘more glamour’ and battle the area’s seasonality.

The Four Seasons Hotel Resort in Marbella will be built on a beach front location with the first brick being laid as early as October 5. It has been described by sources as a ‘huge project’ which will bring back some ‘glamour’ to the tourism hotspot.

The land is owned by Villa Padierna, belonging to Malaga businessman Ricardo Arranz, who has partnered with North American firm Fort Partners and Belgian real estate company Inmobel. Four Seasons will not only manage the hotel, but also the private residences and villas. The complex will also include internationally-renowned restaurants that will come to Spain solely for this project.

The luxury hotel resort will be the brainchild of architect Richard Meier and has been described by those involved in the project as ‘a marvel’. It is scheduled to open in 2020.

It has been described by sources as a ‘huge project’ which will bring back some ‘glamour’ to the tourism hotspot after a rise in loutish behaviour from boozed up tourists in the summer months has tarnished once upmarket areas like Puerto Banus. Much like its Miami and Dubai counterparts, the complex will include private residences as well as hotel rooms. It is hoped it will the kick off of a ‘new era’ in luxury tourism in Marbella.

The Four Seasons will be the first in Spain, opening its doors by the beginning of 2019.

Source: Olive Press

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Marbella is the most popular Destination for Health Tourism

Marbella has become the preferred destination for health tourism. The perfect climate, the easy access by land, sea and air and the luxury accommodation and services that the city offers for tourists in general, puts Marbella at the top of the health care list.

The great variety of private clinics available in Marbella offers an exclusive service to patients, not only in terms of beauty and wellbeing but also in all other health specialties including oncology, traumatology or assisted reproduction. According to figures from the OECD (Organisation for Economic Cooperation and Development), health tourism generates revenue of 75 billion euros a year around the world. Read more and find the right clinic at SUR English.

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Marbella is a booming tourist place

Marbella is a booming tourist place

Tourism reaches record for fifth consecutive year! For the first time ever Spain has surpassed the United States when it comes to international visitors. Spain has set a new record of 82 million international visitors in 2017, now taking second place worldwide after France.

Among the 5-star hotels of Marbella, five of them have been reported to reach record occupancy and profits in 2017. The influx of quality tourists and increasing popularity of Marbella has encouraged the refurbishment of old hotels as well as the building of new ones:

The emblematic 486 room Don Miguel, located directly behind Marbella town and closed for well over a decade, is undergoing a €65 million renovation, scheduling to open its doors in the Spring of 2019, operated once again by Club Med as before its closure.

Four new boutique hotels are planned in the Old Town of Marbella, two of which will be finished by mid-2018. Foreign investors are reportedly set to plough €15 million into the developments, which will be in the historic old town centre. Swiss and British investors from the Rhone Property group are planning to restore some of the area’s grander properties as hotels. They plan to open a boutique hotel called Maison Ardois – a restored, 16th Century mansion in Calle Ancha, an old, four-storey Plaza del Santo Cristo house and Hotel El Castillo – a building inside the castle walls, according to reports. Source: EuroWeekly

The fab hotel-restaurant La Fonda in the Old Town has finally been sold to a Qatari group who are about to start a complete refurbishment which will surpass its former splendor. The new hotel will be comprised of some 21 rooms and aims to open for Easter 2020.

A new boutique hotel called The Touch Puerto Banús opened in Cortijo Blanco late last year offering 11 sumptuous rooms and suites.

Platinum Estate’s plans for a new beachfront W Hotel with 240 rooms, of which 140 will be “touristic apartments”, are proceeding, according to the Town Hall and the developer Platinum Estates. The project is being designed by the US-based Rockwell Group and is scheduled for opening in 2021. This is an amazing avant-garde project which is one of many examples of the rapid and favorable evolution of Marbella.

This year the big news is the opening at Easter of the exclusive, adult-only Nobu Hotel in Puente Romano, co-owned by the legendary actor Robert de Niro and the world-famous chef Nobuyuki Matsuhisa, making it the 16th hotel opening in their worldwide chain. This exclusive hotel consists of a totally refurbished part of the iconic 5-star Puente Romano hotel, a hotel within a hotel, with 49 rooms and suites surrounding the Puente Romano Plaza where Nobu already opened a restaurant last year.

Source: El País

Aside from extraordinary hotel activity, there are many other factors currently at play which are essential to take into consideration when contemplating the full spectrum and impact of the positive evolution and activity of this area.

Although the list is far too long to include in this report, a few examples follow: Marbella’s extraordinary culinary offer with more than 500 restaurants and 5 Michelin stars, the city with the highest number of Michelin stars in Andalucía, the many events that Marbella is celebrating: Golf tournaments, the Davis Cup, the Starlite Music Festival confirming it will continue in Marbella with an outstanding summer schedule, as well as many other shows and events of all types.

Find your new home here with us at mci real estate.

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Marbella Property Report 2018

The residential property market has improved significantly in the Marbella area in 2017, consolidating the trends established in prior years. Property as well as financial professionals have announced the beginning of another Golden Age for Spain’s housing sector, but this time without excesses until at least 2022.

The increase in the volume of residential property sales nationally in 2017 has been the largest since 2007, rising 14.6% over 2016 with Málaga province leading the way. Annual national sales figures show a total of 464,423 properties sold in Spain in 2017, climbing from a low of 312,593 in 2013 to the highest number recorded since the 2008 property crash.

 

 

 

 

 

Source: El País

 

 

The property market touched bottom in our area in 2011, with recovery starting in 2012, two full years before the rest of Spain. Led almost exclusively by foreign investors/purchasers from many different countries, the international market has always distinguished the Marbella market, as well as most Spanish resort areas, from the rest of the country.

The increase in sales volume in Marbella from 2014 to 2015 was an extraordinary 28.3%, as buyers rushed to purchase the best bargains before prices started to increase. Consequently, the market recovery in the Marbella area is more mature than the national market and percentage sales increases have begun to level off, whilst still increasing on a national level. For example, on a national level the 2017 sales volume is still 21% below that of pre-crisis levels of 2007, whilst in the Marbella-Benahavís-Estepona area, the 2007 sales volume has been surpassed by 10.4%.

 

 

 

 

 

 

The enormous increase of 28.3% in sales in Estepona compared with 6.9% in Marbella is attributable to the following factors:

  • Substantially greater availability of fully zoned development land in Estepona compared with Marbella.
  • Delays in obtaining building licenses in Marbella of a year or more, pushing developers to buy land in Estepona and Benahavís where licenses are granted far more quickly.
  • Lower prices of properties and land in Estepona, compared with the most consolidated residential areas of Marbella.

There were only 499 sales in Benahavís in 2017, representing 6.7% of the 7,487 properties sold in the area of the three municipalities. Notwithstanding, this municipality is of vital importance to the entire area due to the exclusivity of most of the residential estates in this area, such as La Zagaleta, El Madroñal, La Quinta, Los Flamingos, Marbella Club Golf Resort, Los Arqueros, La Reserva de Alcuzcuz and others.

Demand in the very best areas of Marbella is outstripping supply, due to the fully consolidated nature of the most popular areas of the city, such as the beach side of the Golden Mile and Puente Romano, resulting in a significant upwards push in prices in these areas. Here the sale prices for apartments or villas have easily doubled between 2011 and today. Fortunately for those who now can’t afford to buy in the few ultra-prime areas of Marbella (and many who never wanted to be there in the first place), property prices in many residential areas are still below their 2007 highs.

New Property Developments

There is high activity in the Marbella area in new construction and off-plan sales. The number of new developments launched and the number of units built in 2017 is slightly lower than in 2016, but the number of investors and end-user clients is growing, especially motivated by the exciting new projects launched at the end of 2017 and first quarter of 2018.

These new projects plus our stock of resales of refurbished properties provides today’s buyer with a very wide variety of contemporary and modern homes. This includes villas and apartments to purchase “off-plan” at competitive prices, and those under construction (with the clear advantages of stage payments in both categories), and others already finished, ready to move in.

Check out our latest super modern properties for sale.

Is now the Right Time to Buy in Marbella?

Any time is a good time for those buying with lifestyle objectives in mind, which has always been the single most important factor influencing buyers in Marbella. From an investment standpoint, even though prices have started to rise again, they have not yet reached the 2006 and 2007 highs in most of the municipality. Historically low variable and fixed rate interest mortgages are becoming commonplace, and tourism is breaking records year after year.

The national and local economies are improving significantly and the Spanish market itself is beginning to buy in Marbella again. Not to forget the big money – many major investment funds – that previously ignored Marbella but from 2012 have invested hundreds of millions of euros buying development land on the whole of the Costa del Sol, betting on the medium and long-term success of residential tourism in this area, often referred to as the California of Europe.

For many, the hard evidence of the positive evolution of the Marbella property market, will no doubt lead them to conclude that 2018 and the coming years represent an outstanding time, perhaps even a historic opportunity, to purchase property in this area, while Marbella is just entering its New Golden Age.

If you are thinking of investing your money into a property at the Costa del Sol, give us a call. mci real estate will advise you professionally and support your search for the right purchase here.

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Tax Reform! Inheritance Tax Andalucia – Spain

Inheritance Tax Andalucia

The Spanish Socialists (PSOE) and Ciudadanos (Conservative Reformers), who rule in Andalucia, agreed last week that if the law of the Autonomous Community of Andalusia applies to the acquisition in the tax class I (children or adoptive children under 21) and II (children, spouse, parents) is tax-exempt for a maximum of EUR 1 million in 2018.

As of the beginning of 2018, children and spouses who inherit up to one million will not have to pay inheritance tax. For those who exceed this amount, only the difference is taxed.

Be advised to contact your tax advisor or lawyer for this!

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