Marbella, January 25th 2017: Since the ‘Brexit’ ruling after the June 2016 referendum, when the British public made the decision to leave the European Union, the Costa del Sol’s property market has been awash with uncertainty. Historically, the Costa del Sol has always benefitted from private investment from the United Kingdom.

However, renewed interest in the Andalusian coast from Scandinavian and Central European markets is dispelling the shadow of ‘Brexit’ on the real estate sector. This is reflected on a national level in the figures for the third trimester of 2016 from the Spanish Real Estate Statistics Records, as well as on a local level in terms of the luxury property sales at the Palo Alto development in Ojén.

According to the Statistics Records, foreign buyer numbers appear to have stabilised at a figure above 13%, which maintains a position as one of the all-time highs. Britons come top of this list, just as when the research began in 2006. However, the market accumulates three consecutive trimesters, losing traction in relative terms and giving rise to figures under 20%. In fact, the decrease between the second and third trimester of 2016 is especially marked, dropping from 19.73% to 17.66%, demonstrating a decrease of almost 2%.

French buyers, who increased by nearly 2%, come in second, with 8.91%. This significant growth renders them one of the most active nations, with their increase compensating in part for the reduced British demand. Germans (7.32%), Swiss (7.14%) and Belgians (6.2%) come third, fourth and fifth respectively in the rankings for buying a second home in Spain, strengthening their presence in the housing market and increasing their importance both in absolute and relative terms. These figures compensate for the decrease in British investment and maintain the sales figures to match up to those in previous years.

With 50% of its first phase sold, Palo Alto supports this trend on the Costa del Sol. According to their own buyer statistics; Germans and Belgians top the sales figures with 38% and 15% respectively. Norwegian, Italian, Dutch and Spanish buyers follow behind, all with a figure of 6%, while French constitute half of that, at 3%.

Accordingly, Sales Director Simon Boxus explains: “The crucial commitment by the developer and architects to quality of design and materials and the privileged environment, together with the recovery of the economy at both a national and international level means that Europeans view the Costa del Sol as an exceptional destination”.

“In these circumstances, destinations like Ojén, where we are developing the Palo Alto project, offer both physical and legal security”, he continues.  

“According to the figures deduced from both the luxury reservations and the marketing reports, the decrease in the British market is undeniable. However, German, French, Belgian, Italian, Dutch, Spanish and Norwegian buyers have found an answer to their demands for high-quality real estate in Palo Alto”, Boxus concludes.

More about Palo Alto

With 250 million euros investment, Round Hill Capital, a leading global property investment firm, is the developer in this project, designed by the prestigious, award-winning architecture studio Villarroel Torrico. Palo Alto is built on 50 hectares and offers a selection of spacious apartments, penthouses and villas in a low-density residential area.

Thanks to its cutting-edge contemporary architectural design, Palo Alto combines the best quality amenities to cater for the necessities of active modern life with the very best nature can offer. Nestled in the incomparable natural beauty of Ojén and only a few minutes away from bustling Marbella, Palo Alto impresses primarily for its location, which offers panoramic views of the mountain and sea.

www.paloaltomarbella.com 

Emma Williams

Web: www.marie-noelle.es

Email: eventos@marie-noelle.es

Móvil: (+34) 626 681 308

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Marbella, November 30^th 2016: Today marked the presentation of the luxury housing development Palo Alto. The meeting began at 9.30am and included a breakfast which went on until midday, with the press conference itself taking place at 10am.

Round Hill Capital, a leading global real estate investment firm, is the developer of this project, designed by the prestigious, award winning architects Villarroel Torrico. Founded in 2002, Round Hill Capital has a proven track record in the acquisition and development of luxury properties. It has invested over 6 billion euros in European Real Estate assets and has developed over 100,000 residential apartments in Europe. Round Hill Capital is currently one of the largest landlords in the Netherlands and CEE region, and in addition owns and operates Nido Student Living, one of Europe’s fastest growing and leading student housing companies.

José Antonio Gómez Sánchez, mayor of Ojén and Matías Villarroel, architect and developer, travelled to the site to give the presentation their support. Gómez described Palo Alto as an important project not only for Ojén, but for the whole of the Costa del Sol, due to the fact that “it will invigorate the area, both socially and economically”. He also talked about the team of architects and developers, praising them for their professionalism and the quality of their work. Villarroel, for his part, alluded to Palo Alto’s slogan: ´Naturally Modern Living´, which, according to his presentation, is something that “reflects exactly what we wanted to achieve with this development”. In addition, he explained the reason behind the name Palo Alto. It was chosen in honour of the Pinsapo tree, a native species in the area that will surround the development.

Located on the outskirts of the Ojén, this new real estate development will be built on 50 hectares, of which 40% will be comprised of green open space. Palo Alto’s location makes an immediate impression, offering panoramic views of the sea and mountains, all of which can be enjoyed just 4 minutes away from the La Cañada shopping centre in Marbella.

The project, which is in accordance with the PGOU (the municipal town planning agreement) of Ojén, now has a building licence and construction will begin next month. With building work planned between January 2017 and autumn 2018, Phase 1 of the 6 phases planned in total for Palo Alto will be made up of 60 apartments of 2, 3 and 4 bedrooms, and 15 penthouses of 3 and 4 bedrooms, all in a tranquil environment surrounded by nature. Additionally, the master plan includes a Health Club for Phase 1, comprised of a state-of-the-art gym, spa, swimming pool, and kids’ club. It also includes a business centre with a concierge service, plus 24-hour security, giving the development a private and exclusive feel. These state-of-the-art apartments vary in price from 440,000 to 1 million euros. 

The total investment is projected at 250 million euros, taking into account land development, infrastructure and construction, and will generate hundreds of direct and indirect jobs.

Palo Alto is quickly establishing itself as an ideal destination for those already attracted to the area, something which is attested to by the fact that 50% of Phase 1 homes have been sold in just 4 months. The buyers to date come from 16 countries including Europe (with a high proportion from Germany and Belgium), North and South America and the Middle East. Nearly half are aged 50-60, with 40% in the 40-50 age range. The majority either have older children or are empty-nesters and are professionals from business, finance, medical and design sectors. In terms of preference, the buyers are mainly purchasing as a second home for holidays or to rent out, with a smaller percentage buying as a first home.

Emma Williams

Web: www.marie-noelle.es

Email: eventos@marie-noëlle.es

Mobile: (+34)626 681 308

La entrada Round Hill Capital will invest 250 million euros and generate hundreds of direct and indirect jobs with the luxury housing development Palo Alto se publicó primero en MN Comunicación.