Traditional markets such as the Costa del Sol are getting more popular with overseas property buyers after the news of its coastline is to be improved with 5.6 million euros of investment, according to a media report.
The Costa del Sol's hundred-and-sixty kilometer coastline and most of its hotels are on or close to the beach, so the beaches give the verve in this part of the world. Euro Weekly News.com has reported that beaches between Torremolinos and Marbella will be upgraded to preserve the coast and its natural spaces. With only a few exceptions, most of the beaches are vigilantly maintained and normally kept spick-and-span, with lifeguards, beach bars, showers and all amenities.
The project, which is the result of an agreement between The Junta de Andalucia's Ministry for Tourism and the Western Costa del Sol's Association of Municipalities, both have contributed 2.8 million euros to the initiative. The agreement states that the area is the main tourist destination in Andalucia and the region is proving to be popular with different types of buyers, such as property investors and those who are seeking retirement homes in the sun.
According to the Financial Times, the top end property market in Costa del Sol is "relatively strong." Holiday villas in Marbella are still going for over €9 million (£7.15 million). The publication reported that the Costa del Sol is well-placed to benefit from a push by Europeans to holiday closer to home as a way of reducing costs and carbon emissions. Also a new fast train link in 2009 will be in place between Barcelona and Malaga along with a new high-speed AVE train between Malaga and Madrid which will help improve accessibility.
In related news, Desmond O'Connor, head of Alanda Homes, has stated that there is now "real value for money" in Costa del Sol, with up to 20 per cent knocked off housing prices.