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A More Optimistic Future for the Marbella Property Market

The Marbella Property Market sees the futurehoped to be approved by the beginning of
now with more optimism. The newly elected2008.
Town Hall initially approved the new master
plan  on  the  19th  of  July.The conclusion is that Marbella Real Estate
Agents, and in general investors, buyers and
For the last few years there has been greatsellers in the Marbella Property Market, can
uncertainty as to the legitimacy of many ofnow  see  the light at the end of the tunnel.
the villas, apartments and townhouses built
in Marbella in the previous years. This wasOther actions which the Town Hall has put in
due to the fact that the previous Town Hallplace are cleaning, security and public
granted licenses which were contrary to theworks.
previous Marbella planing. At the time a new
planning document was drown up but theThere is a general cleaning campaign taking
regional government did not approve it.place as it is clear that this is something
Nevertheless, the Town Hall went ahead givingthat  tourists  and  residents  appreciate.
licenses mainly for apartments within the
Marbella municipality. The boiling point wasAs far as security is concerned, there is a
when the central government dismissed all thelarger police force as many have graduated
councilors of the Marbella Town Hall due to afrom the Marbella Police Academy. There are
court investigation which found that theremore patrols and in general there is a
had been corruption with the granting of thecommitment to bring security to a high level
"illegal" licenses. Then for a period of awithin Marbella town and all Marbella
year many Marbella apartments were difficulturbanisations  including  Puerto  Banus.
to sell as the licenses were considered
abnormal. As a result banks would not grantIn relation to public works, Marbella beaches
mortgages on these properties and manyare being cleaned and new sand is being
Marbella Real Estate Agents would not offerplaced. A new bridge shall be made giving
them  either.better communication between Nueva Andalucia
and San Pedro. New pavements are being
Now with the approval of the new master planplaced, new asfalt on roads, monuments being
95% of these properties shall be legalizedcleaned and the Marbella sea promenade is
thanks to a consensus amongst the politicalbeing improved. One of the major works which
parties. They understand that the priority ishas started is the tunnel for the main road
to reactivate the Marbella Real Estate Marketwhen it passes San Pedro. Once this is
and to give legal security to buyers andfinished, it shall allow a better flow of
property owners. This will no doubt be goodtraffic  along  the  Costa  del  Sol.
news  for  the  Marbella  property  scene.
These few things have started only when the
With this, the newly elected Mayoress of thenew Town Hall has been in power slightly over
centre-right Partido Popular has kept one ofa month. Many other things are planned so
her election campaign promises which were tothat Marbella will be considered the prime
provide the Marbella Property Market with aluxury residential town in Europe. This can
mechanism which would give legal security tobe achieved easily as Marbella still has the
buyers, investors and developers in Marbellabest climate in Europe and has a fantastic
Real  Estate.infrastructure in place including
international restaurants, luxury hotels,
The planning shall be open to publicluxurious boutiques, the best golf courses in
information during August and SeptemberEurope, yacht harbours, and not to forget
allowing allegations from the public. Theseimportant things such as first class
shall then be studied and a final document isinternational schools and hospitals.



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