Future boon to Costa del Sol properties
Well in a positive sign of future development projects the Junta the Andalucia has approached the European Investment Bank (EIB) to seek funding for the Costa del Sol train network that will connect Fuengirola to Estepona.
The first part of the line will join Las Lagunas, just north of Fuengirola, to La Cala the Mijas. The project time is 42 months for this stretch of the line and is currently being bided on.
This is going to be great for people that own properties in these areas as one of the main disadvantages of many of the properties in these areas is the lack of adequate public transport. Of course there are buses but the travel time does not make feasible for many of the potential homeowners who would have to travel for up to 2 hours to get to Malaga from La Cala or vice versa.
It also means that many properties that are currently aimed at the second home market could finally be marketed at buyers searching for a primary residence who do not have their own transport, thus increasing the chances of a sale. And let’s not forget the holiday rental market!
This improvement in the infrastructure should also have a positive effect on property prices and for those who can pick up good properties in the current crisis could see a handsome return in the next 3 to 5 years.
Regards
Andrew Belles
Related article: Property investment on the Costa del Sol
