Nordica Sales & Rentals owner, Peter Rosen, outlines the latest developments in the Marbella and Nueva Andalucia real estate market. In an interview in Business Innovators Magazine, Rosen highlights exciting opportunities for investors, as well as private individuals.
Peter Rosen, owner of Nordica Sales & Rentals in Nueva Andalucia, Marbella has recently been interviewed in Business Innovators Magazine.
Having founded Nordica over 25 years ago, Peter has acquired a wealth of experience and knowledge of the local market. He specialises in advising clients on the best ways to invest in the Marbella property market.
Peter Rosen deals with both private clients, looking to purchase a residential or holiday home, as well as institutional investors looking to invest in Marbella’s dynamic real estate market.
Peter explains how the market has evolved over the past few years and, in particular, the lessons learnt by Marbella from the recent property recession. These lessons, including stricter planning controls and increased focus on quality, have allowed Marbella’s property market to evolve into a more mature and stable environment.
Over the past years there has been a period of correction and instability. During this period prices realigned themselves with market conditions, in order to absorb the excess of stock; however, that period is over.
Whilst there remain unsold properties at highly discounted prices in certain areas, this consists mainly of properties that are poorly located or poorly constructed. Rosen advises against purchasing this type of property as it will always be difficult to sell at a profit, regardless of market conditions.
As Peter Rosen points out, “There is a growing demand for properties in areas that are located in prime locations and close to local amenities, such as Nueva Andalucia. The area of Nueva Andalucia offers the unique combination of being home to over five golf courses, including some of the most famous golf courses in Spain. It is also home to the world famous leisure port of Puerto Banus. Property owners in Nueva Andalucia have the luxury of living within a short distance of beaches, golf courses as well as a wealth of restaurants, shops, bars and cafes”.
With increased demand for well-located properties, far stricter planning regulations and a limited supply of land, prices, in this area, have hardened. Whilst there remain a number of deals on the market, they are becoming fewer and fewer as confidence of both buyers and sellers grows.
One of the best deals on the market for someone looking for a very affordable property is in La Dama de Noche. Set within landscaped gardens, with two communal lagoon style pools, it is within walking distance of Puerto Banus. It also hosts one of the few floodlit golf courses in the South of Spain. Prices for a two bedroom apartment in La Dama de Noche start at 239,000 Euros.
For those looking to purchase a luxury apartment there are also several new and existing developments, such as “The World Marbella”. This development will consist of five iconic buildings housing 112 luxury apartments and penthouses, each constructed in a cutting edge design. “The World” is located close to Marbella’s Golden Mile and has stunning views of the Mediterranean Sea. Prices for apartments in The World Marbella range from 1,280,000 Euros to 3,450,000 Euros. Reservation deposits are already being taken.
Alongside the traditional market for traditional luxury Spanish villas, there has also been an increased demand for contemporary houses located in prime locations, especially close to local amenities. This demand has opened up new opportunities for those looking to buy a property with a view to refurbishing and selling it. As Rosen points out, “Only recently, a client purchased through Nordica a run-down villa in a prime location for less than 1,000,000 Euros. Having invested a further 250,000 in a complete renovation of the property, the house is now on the market for just under 2,000,000 Euros”.
To learn more about property in Marbella and Nueva Andalucia, click here to read the interview with Peter Rosen in Business Innovators Magazine. For more information about Nordica Sales & Rentals, please visit www.nordicasalesandrentalsmarbella.com.
Company Name: Nordica Sales & Rentals
Contact Person: Peter Rosen
Phone: +34 952 811 552