The Future is Looking Very Sunny for Property Investors in the Costa del Sol.
New government infrastructure plans and strong tourism figures, put pays to the unforgiving property investment news in the Costa del Sol.
In 2006, a property report from the Spanish Ministry of Housing showed property prices in Southern Spain are still enjoying strong increases. Andalusia, predominantly the province of Málaga, showed 11% growth within a 12 month period. The tourist board has also revealed that 2006 was the best year for tourism within a 10 year period, with hotel occupancy up by 3% in July 2006. Huge scale infrastructure, across various forms of transportation, will also assist further future growth.
€900 million modernisation of Málaga airport:
Málaga, the fourth busiest airport in Spain, handled 13,076,252 passengers in 2006 with indicators suggesting a further rise of 20 million passengers by 2015. The airport will have a new 3rd terminal, coach station and car park by 2008 and a second runway in place by 2010.
€1,100 million tender for a new direct train line:
The new train line to be constructed between Malaga and Marbella will be 80% underground to avoid disruption to housing, and will be complete within three years. The new railway will accommodate high speed trains to allow passengers to travel from Madrid to Malaga to Marbella without the inconvenience of a connecting train.
New underpass and tunnel:
The 1km San Pedro underpass finally began work in January and is already easing congestion. Within three years Spain & Tangier (Morocco) will become accessible via a 39km under water tunnel. The connection of the two continents will open up all manner of possibilities including the ability to travel from Scotland to Morocco solely by train.
More importantly for the property investor is the introduction of a flat rate Capital Gains Tax, reduced to 18% for non residents from the previous extortionate rate of 35%. This is set to reinvigorate the resale market with vendors being more open to offers.
For more information on property investments and to find out about Obelisk International’s forthcoming projects contact
+34 952 820 319 or info@obeliskinternational.com
In 2006, a property report from the Spanish Ministry of Housing showed property prices in Southern Spain are still enjoying strong increases. Andalusia, predominantly the province of Málaga, showed 11% growth within a 12 month period. The tourist board has also revealed that 2006 was the best year for tourism within a 10 year period, with hotel occupancy up by 3% in July 2006. Huge scale infrastructure, across various forms of transportation, will also assist further future growth.
€900 million modernisation of Málaga airport:
Málaga, the fourth busiest airport in Spain, handled 13,076,252 passengers in 2006 with indicators suggesting a further rise of 20 million passengers by 2015. The airport will have a new 3rd terminal, coach station and car park by 2008 and a second runway in place by 2010.
€1,100 million tender for a new direct train line:
The new train line to be constructed between Malaga and Marbella will be 80% underground to avoid disruption to housing, and will be complete within three years. The new railway will accommodate high speed trains to allow passengers to travel from Madrid to Malaga to Marbella without the inconvenience of a connecting train.
New underpass and tunnel:
The 1km San Pedro underpass finally began work in January and is already easing congestion. Within three years Spain & Tangier (Morocco) will become accessible via a 39km under water tunnel. The connection of the two continents will open up all manner of possibilities including the ability to travel from Scotland to Morocco solely by train.
More importantly for the property investor is the introduction of a flat rate Capital Gains Tax, reduced to 18% for non residents from the previous extortionate rate of 35%. This is set to reinvigorate the resale market with vendors being more open to offers.
For more information on property investments and to find out about Obelisk International’s forthcoming projects contact
+34 952 820 319 or info@obeliskinternational.com
posted by Chris at 10:40 am
0 Comments:
Post a Comment
<< Home