Marbella Town Hall still only talk, talk and talk about the water problem.
Marbella and Costa del Sol construction is slowing down.
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New mobile phones prices in Europe.
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Marbella Town Hall is trying to sack Roca.
Windows 7 pre-orders grab Amazon top sales spots.
Marbella Town Hall against Greenlife Golf Club.
Apple, iPod Touch, iPhone, Mac, huge profit and a big cash reserve.

The new properties for sale are:

http://www.sundream-estate.com/191-marbella-villas.html

http://www.sundream-estate.com/425-marbella-apartments-aloha-park.html

http://www.sundream-estate.com/424-marbella-apartments-menara-beach.html

Happy reading!

We all know it and here is the fact. The market for new construction is more or less dead. Construction levels are on average 65 percent lower than last year. Marbella for example is 73% lower than a year ago and only 129 Marbella apartments have been starting to build so far this year, not one Marbella villas or any property in Marbella. The construction level for the province of Malaga is 65 % and continues in a free-fall. We don’t see any light in the tunnel for more constructions.

Other areas figures after the first six moths; In Manilva has 90% fewer houses being built than last year, Estepona, Benalmadena and Fuengirola is down by 80%.  For example in Benalmadena only 43 homes were started in the first six months of the year. Maybe one of the reasons is that the ex. Mayor Enrique Bolin (who also has a building company) can’t give his self any more free land and illegal building licenses.

Its only one town on the whole Costa del Sol that sees a recovery is Torremolinos, where 420 homes have been started so far this year, 12% more than for the same period in 2008, but last year was a very low building year for Torremolinos.

Related article: 37.000 unsold properties, not 21.000 for province Malaga and Marbella.

Now have the Housing Minister for the first time ever coming out with the figures of the situation on the construction market. The figures are terrible, but I don’t believe them. I thing is worst. The Minister has split up the figures in different groups so it looks better.  He said – For the province Malaga and Marbella is it 21,092 finished unsold properties, but in the report did we find also 8,977 under construction unsold properties and 7,130 under construction sold properties (we don’t know if the buyer are going to finish the purchase or if the banks give them any mortgage) so the totally figures is around 37.000 new unsold properties on the market for sale.   

The property experts all agree that before an improvement can be seen in the disastrous state of the property market in the province of Malaga, it will first be necessary to sell most of the unsold houses and apartments already built and currently without buyers. The stockpile of finished but unsold housing units in the province of Malaga has risen to 21,092, according to figures made public last week by the Housing Ministry, this relates to the period leading up to 31 December 2008. This is the first study of its kind carried out by the Ministry.

The study puts the province in sixth position with respect to the number of new houses unsold, Malaga 21,092, behind Barcelona 55,315, Madrid 51,034, Alicante 46,366, Valencia 30,038 and Murcia 27,279. Together, these provinces make up 37.7 per cent of the nationwide stock of houses and apartments looking for buyers. It will be noted that most of these provinces are also on the Mediterranean coastline. Of the total number of unsold houses, the Ministry estimates that 70 per cent will be primary residences, while the remaining 30 per cent will be bought principally as vacation homes.

Most of Marbella`s apartments and villas are bought as vacation and holiday’s homes. Here in Marbella are the figures opposite 30 % prime residences and 70 % holiday’s homes. As far as houses under construction are concerned, there were 16,107 in the province at the end of 2008, of which 8,977, or 56 per cent, had failed to sell up to that point.

The Association of Promoters and Builders of Malaga believe there is sufficient demand to sell these houses and apartments in the space of two years, at most. The problem is that the banks are not being flexible enough in providing mortgages for purchasers, according to vice-secretary general of the association, Francisco Romero. He asks that the banks respond more proactively to the crisis, “so that we can get new housing projects up and running,” as he put it.