It didn’t start any new developments to build in Marbella and Elvira area last year. Over the last 5-6 year has it been build over 100 new urbanizations of property Marbella or 6.000 – 7.000 Marbella apartments and about 1.000 Elviria apartments. The massive production of properties was going right in the wall in the end. At the same time came the finance crises in the world so the market more or less died over a week. No one could sale a property Marbella, the banks didn’t give any mortgage and many urbanizations lost there first occupation licenses because of the Malaya scandal. Only the clients with cash money and who didn’t care about licenses was the buyer of property Marbella apartments.

Now in the year 2010 is the market slowly on the way back. In February are Marbella Town Hall coming with the new PGOU plan for Marbella and at the same time give all the so call illegal building back there first occupation licenses for property Marbella apartments and villas. Signals from the banks said that they are ready to give mortgage again, to buyers for property in Marbella. We have also in our company Sundream Estate got more phone calls, e-mail and other enquiry of property Marbella apartments. We have just got in 2 lovely apartments next to Santa Maria golf course, build for 4 year ago. They are on 86 m2 plus terrace, 2 bedrooms and 2 bathrooms, a lovely living room with dinning area and a fully equipped American kitchen. Both have garage and store room. The community has 2 nice pool areas. The price stated from 225.000 euros. This is a very good investment for rental or to have a holiday home in Marbella.  

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Related articles; Property Marbella markets up and down.

Backlash for Marbella Town Halls PGOU plan.

Illegal Property in Marbella are going to be legalized by the Town Hall.

Marbella Malaya corruption involved 670 million euros of laundered money.

1,000 million euros washed in Marbella

Some real estates people didn’t think the Marbella property market prices ever going ending rising. Many real estates said to the clients – the property Marbella market prices are growing with 15-20% every year, so in 5-6 year has your property doubling in sales value. Even the real estates themselves believe in what they said. They rent more and bigger offices, employed more people, more luxuries cars; they competed with each other that have most and biggest road signs. Today has many of them gone bankrupt. Empty locals, road sign skeleton with no advertisements and high unemployment.

A property in Marbella is a good investment over long time if the buying price is correct, not those fantasy over prices some real estates was sold for in 2003 to 2007. We have many clients who we sold properties in Marbella under these years. We never took in property in Marbella to any over prices. Some days were I looking at 5-6 properties and only 1 or 2 did we take in for sale, the rest was stupid over prices. Today when the prices has going down with around 15% can we still sale them and the owner don’t lose any money. We only take in properties in good areas like Hacienda Playa, Bahia de Marbella, Elvira Hills, Hacienda Elviria, Cabopino, Los Monteros and many more similarly areas.

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Property Marbella apartments and the prices problem.

Marbella properties prices have Not dropped with 40 % or more.

Marbella is again on the map as one of Spain most imported towns. Just a few weeks ago on the 29th October were the Grand Opening Celebration of Hard Rock Café Marbella. It is Spain’s fifth Hard Rock Cafe after Barcelona, Madrid, Mallorca and Gran Canaria. It is situated in the heart of Puerto Banus, on the corner of Plaza Antonio Banderas, opposite the El Corte Ingles department store and adjacent to the Marina Banus shopping centre. The new establishment is of around 1000sqm and has recently received a 2.5 million euro installation and decoration investment. There is space for around 300 people. As well it includes a bar, an open-air terrace and Rock Shop, and also features Hard Rock’s limited-edition merchandise. The new cafe is expected to create about 70 permanent jobs and up to 100 persons in summer and will definitely bring some more local people and tourists to the port of Marbella.

Marbella has been waited a long time for Hard Rock Café. Marbella have already most of the worlds famous and important restaurants, bars, shops and boutiques to offer tourists and the people who lives here or have a property Marbella apartments or villas as a holydays home.

There are always many people at the new Hard Rock Cafe, so be aware that there could be a small queue to get in. But they handle it quite well and give you a small pager which vibrates when it’s your turn. Nice idea, so you can go to the bar while waiting and don’t have to actually stay in the queue

The Opening Celebration on October 29th was celebrated by Javier Ojeda from the legendary Spanish band Danza Invisible, who performed an acoustic set with two other musicians and a second set with Free Soul Band, a truly funky band from nearby Malaga.

Every day do we get contact with clients from the whole world who wants to buy a property Marbella apartments or villas. Many of them have been here in Marbella and on Costa del Sol before, but many of them ask us ask us where are the best place to get general Costa del Sol tourist information and maps?

The best place to find general tourist information and maps about Marbella and the Costa del Sol is at the many municipal tourist offices. You will get there maps, promotional brochures and discounts to many Costa attractions.

Tourism is very important to Marbella and the city has established four locations where visitors can receive much information about Marbella attractions, beaches, activities, main sights, etc…

These offices can be really helpful as they hand out free of charge maps, promotion discounts to attraction parks, water parks…

These offices are generally open from 9am to 9pm Monday thru Friday, and 10am to 2pm on Saturday. During the winter season, this schedule may vary slightly.

The offices are located at:
- the Plaza de los Naranjos in Marbella historic center,
- the glorieta de la Fontanilla along Marbella paseo maritimo,
- the plaza Antonio Banderas in Puerto Banus,
- conjunto San Luis in San Pedro Alcantara.

The phone numbers of the main office (la Fontanilla) are (+34) 952 86 89 77 / 952 77 14 42.

For other towns on the Costa, visit their official municipal website:

www.marbella.es
www.benalmadena.com
www.fuengirola.org
www.mijas.es
www.ayto-torremolinos.org
www.estepona.es

A court in Marbella has told the four British purchasers of a property Marbella seen as illegal by the Junta de Andalusia that they cannot have their deposit returned and they must go ahead with completing the purchase. The purchasers must now pay all the court costs as part of the ruling, but do have the right of appeal to the provincial court.

They had claimed their deposit back after a delay in the handover over a challenge to the building license. Court orders the British buyers to complete purchase of irregular Marbella property.

The buyers have paid over more than 103,000 € as a deposit on the apartments on the urbanization Santa María Green Hills, in Elviria Marbella, signing the contract with Marbella Vista Golf S.L. in November 2004. The Spanish new paper Diario Sur reports that the apartments should have been handed over before 1st January 2006, but, owing to the regional government’s challenging the building license they considered to be illegal, neither the property nor the gardens and promised golf course were completed by that date.

The would-be buyers then claimed their money back through the courts, with the company placing its own counter-claim as part of the same proceeding. First Instance Court No. 5 in Marbella has now found in favor of the developer, ruling that the fact that the property was not completed on time is not the company’s fault. The court also said that any irregularities in the license granted by the Town Hall cannot be attributed to the developer.

There was a similar case affecting the same urbanization two years ago, when other British buyers had their claim for their stage payments to be returned turned down by a court. Sur however reports another case a year later, when the provincial court ruled on appeal in favor of the buyers, ordering the developer to return their payments.

Related articles;

Backlash for Marbella Town Halls PGOU plan.

Illegal Property in Marbella are going to be legalized by the Town Hall.

38.194 illegal property Marbella.

Marbella starting the demolition of properties.

Over the last two year with the economic crisis in the world and our three criminal cases in Marbella under the names “Ballena Blanca”, “Malaya” and “Hidalgo” have the prices for property Marbella and apartments got down. I have write about many of the problem we have in Marbella. The problem is so many for a seller; first if he get a buyer, then hope that not the buyer’s lawyer say to his client – I think the apartments don’t has the building license or that the prices maybe is going done little more and in the end try to find a banks who want to give a mortgage, the Spanish banks don’t have any money more. The English news paper do also a lot by writing that the prices has going down 40 – 50 -60% in Spain, where??? Where do we asking the client. A property in Marbella has maybe got down 10 – 15 % over the last two years. The most of the sellers say – then do we not sell now and wait some year and see how the market are then. Marbella apartments or villas are a good investment over some year. Now can we se some light in the tunnel, Marbella Town hall have more or less sorting out all illegal licenses problem, the banks are slowly starting to get new mortgage and the buyer have understand that the prices is not going down any more. Here is some of the article I have write about the problems in Marbella.

 Related articles; 1,000 million euros washed in Marbella

Marbella Malaya corruption involved 670 million euros of laundered money.

Backlash for Marbella Town Halls PGOU plan.

Marbella apartments, who is the owners – the banks or the builders.

Illegal Property in Marbella are going to be legalized by the Town Hall.

38.194 illegal property Marbella.

Marbella Town Hall steals a slice of Antonio Banderas garden

Marbella properties prices have Not dropped with 40 % or more.

Ex. Marbella Mayor missing brother arrested and sent back to Spain

A couple of weeks ago come news that Dubai World, which is behind Dubai’s extravagant construction of artificial islands and giant skyscrapers, suspend payments in six months.

Because of the massive State interference in the company has data led to speculation that the Dubai state should halt payments, or at least that the state is unable to guarantee Dubai World’s commitment.  The conglomerate Dubai World has asked for debt restructuring and extension of credit from lenders to May 2010.

More problems, Nakheel, a property development company owned by Dubai World, reported during its first six months of its fiscal year broken a loss of 13.4 billion dirhams. This corresponds to a loss of 3.7 billion U.S. dollars.

Last week had Dubai World talks with a number of banks to restructure 26 billion dollars in debt, which includes a bond for 3.5 billion U.S. dollars issued by Nakheel. The bond will expire on 14 December. The government of Dubai announced that it will pay 4.1 billion U.S. dollars to cover the liabilities of property developer Nakheel.

Every week come new information about the finance crisis in Dubai, and in this new finance crisis are all the banks in the world involved in.  Every bank around the world has borrowed out money to Dubai spectacular building companies and the other building project in Dubai like The World islands, Waterfront, the subway, the ski slope, Palm Deira, Maritime City and many more fantasy project. Now have the banks understand there that they maybe don’t going to get the money back. The rich oil states around Dubai are not willing to pay the bill; they are going too asked for debt restructuring and extension of credit.

The affect are, that our mortgage in Spain and Europe is going to be higher and no new mortgage to clients. So here in Marbella and the rest of Spain, it’s going to be more apartments and villas for sale on the market to lower prices, the banks have to take over more properties which they must sell to any prices, so the prices is going down more.

Related articles;

http://www.sundream-estate.com/blog/2009/12/02/a-property-in-marbella-is-not-for-the-spanish-banks/

http://www.sundream-estate.com/blog/2009/05/27/the-worlds-largest-real-estate-crash-league/

Only the three criminal cases in Marbella who goes under the names “Ballena Blanca”, “Malaya” and “Hidalgo” has together been washed an incredible 1,000 million euros. It shows the summaries that the prosecutor has done in cases that are reported today in La Opinión de Málaga.

The largest network of administrative corruption and Urban Development began to be investigated in March 2006. The 26 front men and women alleged used by Juan Antonio Roca (who was Marbella town planning advisor) the man at the centre of the Malaya case, suspected to be bribes and other amounts channeled around between municipal officials and builders to the tune of 670 million euros. The money came from the backhanders which many real estate promoters and builders paid to do business in the town, get illegal building licenses for new apartments blocks and villas urbanizations.

In the other cases are internationally known criminals and drug trafficking. Large sums of money have been sent around the network and ended up in accounts in tax havens. The Hidalgo case saw 220 million laundered and Ballena Blanca some 150 million

Related articles;

Marbella Malaya corruption involved 670 million euros of laundered money.

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 Now have the figures of the corruption in Marbella Malaya scandal when the former Mayor’s Julián Muñoz, Marisol Yagüe, her deputy Isabel García Marcos and the big boss in the Malaya José Antonio Roca, who was town planning advisor plus 100 more people in Marbella community, Marbella police, councilors and business people. The money thought to have been laundered during the infamous ‘Malaya’ case in Marbella has been calculated at around 670 million euros.

Most of this involves payments received in exchange for ‘favors’ relating to building development in the city, say police. They have given quicker buildings licenses for apartments, villas and other properties. They sold community plots illegal and gave license for building on them. It is said to have been laundered by up to 26 people who worked according to the orders of the alleged ringleader, former town planning assessor for Marbella Juan Antonio Roca.

The suspects are spread across Spain and include six lawyers from a firm in Madrid. In addition to property development corruption on the Costa del Sol – and particularly in and around Marbella – the ‘Malaya’ case is believed to have involved homes built in Los Alcázares (Murcia).

TV4 made the summer of 2009 an entertainment program called Mammas pojkar; one of the attended was my beloved friend Susanne Rydeström and her son Tim Rydeström. The program consisted of 3 mothers (Susanne Rydeström, Naima Malki and Gerd Ideståhl) with their 3 sons, (Tim Rydeström, Bobby Haddad and Christian Ideståhl) together in a luxurious villa in Marbella, brilliant sunshine and 32 potential girlfriends. For the three guys in TV4’s dating program mammas pojkar look the situation perfect, to say the least out. The only drawback was that their overprotective mothers living in the house – and they have nothing against interfering in their sons’ love affairs. But who will control the most – the son or mother? During six weeks tried sons and their mothers are intermingled in a luxurious villa in Marbella, together with 32 girls who hope to find love in one of the guys. It was a lot of romance and fun challenges in and around Marbella in TV4 program mammas pojkar, but also drama, strong opinion and rivalry. Not to mention the heated discussions between mother and son about the potential girlfriend limits. My friend Susanne Rydeström and her son Tim Rydeström did it well.

Susanne Rydeström was perfect in Mammas pojkar.

In the program Mammas pojkar had mothers very much opinion on girls; Susanne Rydeström felt that Tim should have a girl from Europe, so no culture clash arose. Gerd wanted a daughter in law who is very interested in flower and horticulture and last but not least wanted Naima have a Syrian girl, a virgin who is only interested to wash and cook for her husband. The 32 girls discovered very quickly that Susanne Rydeström was the best mother, who loves to dance, drink a glass of wine, listening to rock music and everything else that makes life happy. Susanne Rydeström was their perfect mother in law in TV4 program mammas pojkar. Who chose the boys as his dream girl? Well who knows?

Susanne Rydeström has two blogs; http://susannerydestrom.blogg.se/ and http://www.finest.se/userBlog/?uid=35626&beid=1249624

Tim Rydeström has this blog; http://www.finest.se/userBlog/?uid=25863&beid=1249855