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I´ve been renting a property on the Costa del Sol for the last 6 months, having sold my lovely apartment in Rio Real in the 2nd half of 2008. Bearing in mind that I sold my place as the recession started to take hold, I was pretty chuffed that I managed to get the full asking price at the time, albeit I had to include all the furniture as part of the deal. The Spanish buyer had looked at over 40 properties in Marbella, and apparently fell in love with my place and didn´t want to change a thing.
So here we are in April 2009, we are at (or close to) the bottom of the Spanish property market, there are bargains galore, I have cash in the bank, I´m fed up of living in someone else´s apartment, so I´m ready…….ready to invest again in Spain.
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Marbella and Puerto Banus have taken a bit of a battering lately – and I´m not just talking about the weather! Everybody seems to have had an opinion about the place…myself included!
It´s been a difficult winter here in Spain – the weather of course hasn’t helped, but as one of Europe´s leading real estate and tourist destinations, Marbella and Puerto Banus have suffered more than most from the devastating effects of the credit crunch, the global recession, and the reduced spending power of the Brits, its core target market. As previously reported here, expats have been going back to their homelands while businesses and those of us brave enough to remain have been feeling the pinch. Continue reading »
