Spanish Property Investment Advice 

Brought to you each week by our property expert, Iain Maitland.

Posted on 14 April 2006

More Developments for the Spanish Costas

If the success of a property market is judged by the level of building activity taking place there, then the Spanish Costas are clearly on the up. I have received loads and loads of new development announcements over the past few days. The biggest is from Bancaja Habitat, the real estate development arm of the Bancaja Group. The Bancaja Group is the third largest savings bank in Spain and the sixth largest financial group in the country.

The developer is building more than 20 developments along the Costa Azahar, Valencia, Costa Blanca and Costa del Sol and has full control and management of the whole real estate process from land acquisition, town planning and development to mortgages and finance. As part of the banking group, it can also offer guarantees and transparency in its transactions. The Bancaja Habitat is currently seeking UK agents to market these properties so expect to see these deals surfacing soon.

Picking up on last week's story concerning illegal-build homes in Marbella, reports are coming in of similar bribes for building licences scandals in Manilva and Benalmadena on the Costa del Sol and Torrevieja, Orihuela and Elche on the Costa Blanca. Further information will be published as soon as we get it. If you are interested in knowing more, let me know at iain@internationalpropertyalerts.co.uk with your area of interest and I will send you details as I receive them.

More and more UK property specialists are moving into the Spanish market. The latest is Bond Wolfe, the UK property investors and auctioneers, who are launching an overseas division dealing in exclusive Costa del Sol properties. Bond Wolfe Overseas will offer luxury villas from €1 million to €15 million and apartments from €150,000 euros upwards. The focus is on Marbella. The exclusivity and the 27 per cent house price growth in the 12 months to September 2005 are the big attractions. Clearly, the house price growth is slowing although the top-end of this market should continue to do well.

Finally, if you are looking for the next big property show, do check out the Invest In Property Show, on the 21 to 23 April at Earls Court 2 in London. Visit the website at http://www.investinpropertyshow.com/ to find out more.

Warmest Wishes

Iain Maitland

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