Hi All,
Just found some info on future projects for our area.
1) The European Union has identified the Costa del Sol as the fastest growing area in Europe, in terms of population, with the number of people living there expected to grow from 2.5 million to 6.5 million by 2011 (figures supplied by Hamptons International).
2) It is estimated that around Nerja on the Costa del Sol, prices rose by around 30% during the 1999 construction of a motorway link to Malaga. A new motorway link to Sotogrande, in the west, has recently opened and I predict that this will continue to fuel prices increases in this part of the region.
3) A new rail link from Fuengirola to Sotogrande is also being considered, which will increase accessibility - and therefore demand - on the west of the Costa del Sol.
4) A high-speed rail link is being constructed between the Costa del Sol and Madrid and should be completed by 2007. This will reduce journey times to 2½ hours.
5) A large proportion of Spanish residents have, or aspire to, a second home on the coast. Increased accessibility will increase demand from the ‘home’ market, and this will impact on all property prices on the Costa del Sol.
6) It will also make the area more accessible to Spanish holiday makers who rent property, which will in turn increase demand for properties from investors.
7) Rumors are extremely strong with regard to a new Disney theme park being built in Manilva, south west of Marbella which is again very attractive for the rental/investment market on the costa del sol.