Investing in the Marbella of the present and future

SUR in English today hosted a round-table event called “Marbella town planning – present and futenure”, which brought together legal, financial and architectural experts, as well as Marbella town hall, to discuss how the town can attract property investors and how it well develop in the near-to-distant future. Guests of the symposium included representatives of the property and real estate sectors.

SUR in English’s editor, Rachel Haynes, offered some opening words, highlighting how the newspaper has always been “an essential handbook” for English-speaking property owners and residents on the Costa del Sol.

Marbella mayor Ángeles Muñoz stressed the importance of the event. “To have SUR in English for so long and inform [English-speaking residents] is good news. It’s a good opportunity for us to have an event like this,” she said. “To have interest and development in Marbella has seen investments, projects and house construction triple since 2019. The Marbella model must be one to visit, count on and invest in.”

Participating experts were Kika Caracuel, Marbella’s councillor for Housing and Urban Planning; Nicolás Parada, senior associate at Triay Lawyers; Darío Fernández Palacios, director partner of Prime Invest; and architect Iago Milet, of Milet Oliver Arquitectos.

The panel discussed a wide range of topics, including what kind of profile new buyers currently have, why Marbella should be chosen as a destination, the shift from buying a property for tourism to residential, what the town hall can do to improve key aspects for the town’s growth, or the security of investing on the Costa del Sol.

Quality of life in the town was also a hotly discussed subject, with Iago Milet saying that Marbella had gone through an “important transformation” in the 25 years since he moved there, and that it could well be "the California of Europe" so long as they don’t waste the opportunity to make it into a "true paradise".

Marbella town hall’s councillor for Housing and Urban Development, Kika Caracuel, stressed that the town is the ideal place to live because of its green areas and its goal towards becoming a "garden city", among its many other facilities.

Caracuel emphasised how much of an impact the Covid-19 pandemic has had. “It was something tremendous that seemed to bring nothing positive, but it’s highlighted the importance that Marbella has as a second home as well as the new profile of buyers,” she said referring to the increase in professionals from around the world remote working from the Costa del Sol.

The recent LISTA law, approved in December by the regional government, was praised by Nicolás Parada, who believes that the legislation - which will regulate and speed up building permits - "will attract more and more people to invest in Marbella", though he didn’t shy away from pointing out that the town still has a lot to improve on the logistical side, which he believes will make life "more comfortable" for residents.

Darío Fernández pointed out how successful the town has become and how it has gone from being a seaside holiday destination to a location for residential tourists. “[Buyers] aren’t looking for a holiday home, but a permanent one. It’s a great opportunity for Marbella and for developers,” he said.