Luxury Property in La Zagaleta Golf & Country Club has held its value well
Where the middle and lower end of the property market has suffered, those properties at the top end of the range have managed to maintain their value during the global recession better than most.
The key factors to this are the following – firstly, the more expensive properties enjoy excellent locations. There are certain addresses which, whilst not completely recession proof, are far more resistant than others. La Zagaleta Golf & Country Club is one such address. An exclusive, gated community of luxurious individually designed homes, it is perhaps the most sought after address in Southern Spain. It houses its own golf course with Club House as well as riding stables, heliport, hunting and fishing and yet is a mere 10 minutes from the beaches of San Pedro and Puerto Banús. Properties here start in the 3-4 million euro range and some are significantly more expensive. Opulence and elegance go hand in hand – with every comfort being pampered as one would expect.
From the privileged vantage point just above Marbella’s Golden Mile – with the Marbella Club and Puente Romano 5 Star Hotels as neighbours - Marbella Sierra Blanca overlooks the Coast. Beautifully crafted and finished properties enjoy pride of place on the foothills of the Concha mountain and a level of privacy and security which is the envy of many. Again, it is often hard to appreciate just how close to the centre of the town these properties are, and yet, at the same time, so completely independent of the daily bustle. When real estate agents talk about Location, Location, Location – it is these properties to which they refer.
Secondly, in addition to the address is the quality of the construction and finishing of these properties. Exquisite fixtures and the very best in appliances make these homes a delight for the resident. In most, every conceivable comfort is standard. And, as in most cases, quality is timeless which is why these properties hold their value well. When builders are using the best materials the end result far surpasses the description – there are, after all, marble floors and marble floors – one does not have to be a connoisseur to tell the difference.
Thirdly, the future of the area is a significant factor. One prime example of this is the Marbella Club Golf development in Benahavís where luxury villas are being constructed around the spectacular new golf course. An obvious benefit to this is that the new owner can be sure that, if they overlook part of the golf course, there is no danger of that view being spoiled in the future – not something so easily said about other new construction.
Luxury Beachfront Property at Torre Bermeja
The same can be said about frontline beach property – the frontline is the frontline. So direct access to the beach from your luxury villa or apartment is guaranteed. An excellent example of this is Torre Bermeja, the fabulous apartment complex close top the Livingstone Estates offices. Here the 2 and 3 bedroom apartments and penthouses are close to the beach and the position they enjoy cannot be affected by any future construction.
These are just some of the factors that one should evaluate when considering investment in property at the top end of the market. The price often does truly represent the value of the property, rather than the market’s fancy. Property investment should be seen as long term rather than as a short to medium term speculative move. Whilst there is little doubt that some investors have lost money over the past couple of years, those investing at the top end of the market and with a longer term plan will still be looking to achieve a good return on their investment.
