The beautiful resort of el Campanario
This was one of the success stories of the Marbella property boom, back in 2002 apartments were flying out of the door before they were even released onto the market. The stunning tropical gardens won the prestigious award two years running for best gardens on the Costa del sol & the UK´s prime time TV show “A Place in the Sun” voted it as one of their top projects on the southern coast of Spain.
Ideally located on the New Golden Mile only 10 minutes from Glamorous Puerto Banus and 15 minutes from the more traditional and historic town of Estepona, el Campanario resort, attracted buyers both from Spain and from all corners of the Globe immediately becoming a buzzing international community.
Along with the rest of Spain el Campanario was hit hard by the world economic crisis and the spectacular property crash that swept across the Costa del Sol leaving many owners in negative equity and the developer forced into near bankruptcy and the last 6 years have seen prices of apartments and penthouses in el Campanario almost halved from their peak prices of 2007.
A 3 bedroom apartment valued in 2007 at 600,000 Euros is now available for 375,000 Euros and a 2 bedroom purchased at 420,000 Euros sold recently as a bank repossession for under 200,000 Euros. Between 2009 and 2012 there were more than 100 apartments for sale out of just 175 units and most of those have been snapped up by Russian buyers drawn to the area by the location and quality of the apartments, the 24 hour security, stunning surroundings, well maintained community and the five star facilities offered by the el Campanario Golf and Country Club.
Now in 2013 it is becoming increasingly difficult to find a “bargain” apartment in el Campanario as most of the distressed properties have already been sold or repossessed and sold on by the banks. Demand, however, is continuing to rise and agents have experienced a surge in enquires specifically for the el Campanario development and owners are reporting more viewings in the last few months than over the last 4 years!
Today prices remain at a 10 year low but owners are encouraged by the local news that Mayfair International College are building a new state of the art school within walking distance of the development, a new private bilingual school is being built less than 10 minutes away in Atalaya and the el Campanario golf and country club has announced record numbers of new members.
This together with the recent positive news reports coming from both the national statistics showing record numbers of tourists in 2012 and 2013, the government’s approval of permanent Spanish residency for non EU investors buying a Spanish property and major property portals and agents reporting a surge in interest in Marbella properties has given property owners in el Campanario a glimmer of hope that the worst property slump on record has crashed and burned and we are seeing the beginning of a long awaited recovery.
REDUCED EL CAMPANARIO PENTHOUSE
Luxury 3 bed Duplex penthouse in the renowned development of el campanario with stunning views of Gibralta and the African coastline. This El Campanario Penthouse was originally purchased for around 800,000 euros it is now available at 50% discount!
Buyers looking for properties in el Campanario will still find a bargain like this Immaculate el Campanario Penthouse reduced to only 395,000 Euros
Hudson International Properties also have a number of 2 bedroom el Campanario Golf and Country Club Apartments for sale from 200,000 Euros.
Our featured property in el Campanario
A sunny south west facing 3 bedroom first floor apartment, immaculately presented and available with a garage and store room, furniture and an optional 2 year *rental guarantee for only 295,000 Euros
If you are interested in buying an apartment in el Campanario or you would like to book a holiday in one of our el Campanario rental apartments please contact us for more information or to arrange a viewing.
If you are an el Campanario property owner and would like to sell or rent your property please contact us for details.
*The rental guarantee is currently only available on this property – for full details on please email email@example.com