The urbanisation “San Juan de Capistrano” is located just out of Nerja on a hill side facing the sea. This combination of tranquillity, lovely views and still close to the town makes a perfect holiday home in Spain.
The property boom in 2002 to 2008 were fuelled mainly by retired north Europeans who bought up new-built second houses in places such as Valencia and Murcia, says political scientist Julio Embid, of think-tank Fundación Alternativas.
Real estate prices have now fallen some 30% to 50% from their highs, leaving Spain’s banks, or cajas with housing stock on their books whose current value is much lower than the original.
Meanwhile hundreds of thousands of houses built during the boom remain unsold, and people wanting to buy may find it difficult to get credit.
Mix of interests and lack of financial education
Embid also points to the cajas’ politically-driven executive appointments as a contributing factor to the crisis. “Many senior bankers were low-profile regional politicians or majors, without any financial experience or bank background,” he said.
The pilars ensure moving light/shadow through the day, and the large windows gives maximum impact of the stunning coastal and sea views. Built with all modern facilities, this villa has solar heated pool and under floor heating throughout the villa.
Cheap villa for sale in the lovely town of Almuñecar
East of Malaga properties are cheaper
Axarquia is the area between Malaga and Nerja. In that area and a little further to the east and inland is where you find “the real Spain”. This is where the Spaniards are still happy when they see a foreigner, and you will see old women dressed in black sitting out side their houses having a chat with the neighbors
Now it is easy to go to Almuñecar via the new motorway connecting Almuñecar with Malaga and the rest of the coast. The new motorway to Almuñecar is free, and once you have passed Malaga and Rincon de la Victoria, the motorway is straight and in a very good condition.
At the highest point of the Finca there is an old Cortijo (more than 200 years old) totally renovated with two separate houses with a total of 288 m2 with a patio of more than 400 m2 with a salt water pool (without chlorine) 3 x 10 meters.