Sumptuous Spain – How the other half are still living
Despite average house prices in Spain at €263,000 as of last quarter* and many properties at the lower end of the market seeing asking prices falling further, the top end of the Spanish property market seems to know no limits with homes up to £20 million still in high demand according to the experts at Spanish Hot Properties.
Nick Stuart, Managing Director of Spain’s first and premier internet estate agency, Spanish Hot Properties founded in 2007, explains:
“Historically our client base for the super lux villa has been driven by British buyers but as that market has tailed off we are seeing a huge influx of interest in our multi-million pound properties from Russian and Belgian buyers. They are not looking for ‘bling’ properties but homes which are utterly tasteful and thoughtfully put together located away from the centre of holiday towns and truly exclusive.”
Spanish Hot Property has deliberately focused its attention on areas which have not been so hard hit by the recession such as the largest Balearic island of Mallorca where average asking prices stand at €431,700 (Kyero, July 2011). And Marbella which despite seeing some price correction, still remains one of the most desirable locations on the Mediterranean to own a second home.
“The bulk of our wealthy clientele over the past year have had budgets of €1.2 – 2.5 million A massive 60% of our house sales in this top end of the market fall into this price bracket. The second biggest area of sales is across the €2.5 – 5 million bracket where 20% of our big villa sales have fallen. The rest are over the €5 million euro mark,” says Nick Stuart.
“The Marbella area again this summer is awash with celebs and this undoubtedly helps to keep the house prices at a premium, a handful of celebs spotted already this summer include Enrique Iglesias, Danielle Lloyd, Jennifer Ellison, Phil Mitchell and Gary Linekar – and this is really just touching the surface!”
So what can you get for your money in the million Euro plus market today?
€1,195,000 will buy you a fabulous luxury penthouse situated along the New Golden Mile, the beach front between the Costa del Sol suburbs of Benamara and Estepona. Menara Beach resort includes 3 bed and 3 luxury bathrooms. The roof terrace has wonderful views out to the ocean and also boasts a Jacuzzi. This development also includes an indoor and outdoor pool, gym and sauna.
In the next price bracket of up to €2,500,000 you could purchase the very beautiful Villa Natasha. This 5 bedroom and 5 bathroom villa has wonderful vistas across to Puerto Banus to one side and a fabulous golf course the other, the property is set over three floors and is a contemporary home that represents the highest level of design and opulence.
And what do you get for under €5 million? Casa Katerina is a truly imposing property which has been beautifully and tastefully decorated with the utmost attention to detail and is a haven of tranquillity and privacy. Each of the 5 bedroom suites comprises a uniquely conceived bedroom and accompanying bath or wet room. The master bedroom suite contains a majestic bedroom with a fireplace, his and her dressing rooms, a study and a state of the art bathroom. This Villa is available for €4,750,000.
And lastly with 6 beds and 6 bathrooms you can own a villa in La Zagaleta, close to Benhavis priced at €11,000,000. This spectacular hill top mansion in enjoys breathtaking 360 degree panoramic views of the mountain ranges and full clear Spanish coastline views of the Mediterranean Sea across to coast of Africa. Other features include a snooker room, gym, sauna, seam room, cinema room and garaging for 15 cars. The adjoining Country Club is one of the most prestigious and exclusive residential areas in Europe – offering first class private facilities such as tennis, an equestrian centre, 2 private golf courses and a heliport.
For more information on purchasing a slice of heaven on the forever popular Costa del Sol please contact Spanish Hot Properties on 00 44 207 558 8355 or visit www.spanishhotproperties.com.
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Editors Notes:
Who Are Spanish Hot Properties?
Very simply they are the leading internet based real estate company in Spain. For every search made for Spanish property on the internet Spanish Hot Property will be in the top 3.
Spanish Hot Properties is an authority website on the Spanish property market, helping international property buyers in Spain from all over the world. They have a property finder service and a bespoke design and construction service for clients. No other property company in Spain offers the diversity and choice of products and services which is why 70% of their sales comes from word of mouth referrals.
Property is available from as little as €20,000 for a land plot to €20,000,000 for luxury properties at the very top end of the market.