I can not believe people are recommending Marbella. The market is completely saturated with new homes. Working in Altea on the Costa Blanca we are seeing more and more people move up away from the Costa Del Sol. So much of the property is overpriced and at a time when buyer confidence could not be lower. The police arrested the city’s mayor, deputy mayor and recently 30 councilors amid allegations of money laundering, property development offences including building on land protected from development and also manipulation of public tenders and the acceptance of bribes.
1000s of people have invested in property that is now locked in this battle. Work has been stopped on many developments and all those who have invested are left sitting on their hands while the money is all tied up. God knows how long it will take.
I would advise looking at areas with stricter planning laws for your own security. In Altea for example it is not permitted to build over 4 floors in respect of other views and in order to preserve the style of the Spanish town.
Altea is having a multi-million pound marina extension at Puerto Campomanes with a view to making it Costa Blanca's leading super-yacht marina and Jean Nouvel winner of the competition for a series of "great projects" requested by Francois Mitterrand, the French President, is designing an exclusive one off development at the opposite end of the spectrum from the mass produced golf resorts. Prices will start there from 800,000 euros for 1 bed’s and they are selling!
Developers in some of the most exclusive urbanizations of Altea are offering off plan sales of highly specked apartments at circa 300,000 euros. This surely offers much better value for money and much greater potential for capital growth.
For a wide selection of new and off plan properties in the Altea area take a look at Sigma Altea’s web site.
- Property in Spain, villas, apartments and plots in Altea,La Nucia, Albir*- Costa Blanca - Alicante.