The below article was written prior to the elections last Sunday, but is still of interest as it looks at many of the urban projects that are still pending and will be beneficial to the Costa del Sol property.
The population of Malaga province is continuing to increase; however, this growth is mainly due to the presence of foreigners and it must also be said that the increase during the past year has been minimal and the population has grown by only 13,254 inhabitants. The economic crisis has led to a change in migration and the number of foreign residents in Spain has dropped by approximately 100,000.
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Recently there was a good article by José García Montalvo in the Spanish daily El Pais, discussing the present state of the Spanish property market, and asking what will determine the scale of the adjustment underway. Here is a summary of the article by García, a professor and real estate expert at Barcelona’s Pompeu Fabra University.
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It was recently announced by the town hall in Fuengirola that work would start on the installation of Solar panels on all public buildings in Fuengirola. From what has been reported this work is to start this November and on completion will generate, in real time and with immediate effect, the equivalent of the power used by 304 households in a year.
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The summer months are traditionally a quiet time in the Real Estates business on the Costa del Sol as many of the people who visit the area are primarily in holiday mode. Beach, sangria and nightlife are the main concerns with little thought given over to property purchases.
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Recently we had a gentleman contact us about a business we had listed on our Spanish Bars website that I thought might be of interest. It involves music licences. An important topic for anyone looking at opening a bar or restaurant that would be open till late in the evening. For privacy issues I have removed certain details. The reply to the email was by Mark Wallace, our Business Consultant.
According to the Spanish press, Aifos a developer known for such projects as Terrazas de Torreblanca and Las Caballerizas, has been forced into receivership by one of its creditors!
According to the Junta de Andalucia, of the currently 45.000 unsold properties in the province of Malaga, approximately 20.000 properties are suitable to be converted into VPOs (subsidised housing) and are anxious to do so. To date only around 700 properties have been converted.
Due to a growing demand for businesses in Spain, Arriba Estates is now unveiling its fast growing commercial department Spanish Bars.
Yes I’m referring to time share. But before I continue, please note not all time share related companies are scammers; there are a few that do live up to their offers.
The reason for this article is due to the fact that a lot of the Holiday Club scammer operate in Spain, and quite a few can be found on the Costa del Sol.
Fabulous 2 bedroom, 2 bathroom Front line beach apartment on the Paseo Maritimo of Fuengirola. Located near the centre of both Fuengirola and Los Boliches this apartment is within walking distance of all facilities and amenities. The apartment is being sold fully furbished and has recently been reformed to a high standard. Large west facing (afternoon/evening sun) 28 m² terrace that has been partially enclosed. The property also has partial sea. The apartment also has a proven, successful rental track record. Priced to sell at 275.000 Euros. See below for further information.
Cudeca is NGO (non-governmental organisation) and non-profit making based the province of Malaga on the Costa del Sol. Many of you might have seen some of their charity shops in Fuengirola, Marbella, etc…
The NGO assists patients suffering from terminal cancer and is also there to support the families through the illness and afterwards.
For the last week the minesweeper ‘Tajo’ has been the in the Fuengirola harbour and open to visits by the public. It has been a fun and unique week. Last Sunday the aircraft carrier “Príncipe de Asturias” took the lead role in a simulated hostage rescue.
It appears that is these difficult times, many town halls all here on the Costa del Sol are a range of incentives and discount to help motivate us to pay our taxes, etc… This information is based on an article from the Sur in English from the 10th of October. I would recommend using the following information as a guide, contact you town hall directly and find out what other schemes are in place that by be a benefit.
