Medina Elvira´s ideal location offer variety
of interesting attractions such as:
Granada. Only
10 minutes away, Granada city offers a rich
selection of attractions, such as the Alhambra, one
of Europe's most precious, historic and romantic monuments;
museums; visits to the Albaicin arabic quarter,
to the historical part of the city and Realejo. Daily
concerts, shows, tea houses and restaurants are
just a few places one can enjoy the atmosphere in
picturesque surroundings.
Tropical Coast. 45
minutes away, Almuñecar is one of
the most attractive coastal towns in Granada.
Sierra Nevada. One
of Europe's highest mountain ranges is only
20 minutes away. 3000 metres over sea level and with 70
pistes skiable from November until May; during the summer
months the Sierra Nevada Nature Park offers a variety
of hiking trails.
Nature Parks. Exhausting
all city options there are many other,
exciting, options, such as hiking in the foothills of Sierra
Nevada, known as Las Alpujarras. For the more adventurous
the area is ideal for rock climbing, mountain
biking and paragliding.
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INVESTMENT
POTENTIAL
Benefits
of investing in Granada:
Granada,
home to Spain´s best ski-resort and UNESCO world heritage site,
boasts over 315
days of sunshine a year and an average annual temperature of 20ºC.
Over the years
the region has remained relatively untouched, rapidly becoming
popular with
home owners and investors, alike. Granada´s 500.000 ihabitants will
have in Medina
Elvira, its best and most exclusive residential and leisure resort.
Trends:
Recent
press reports have confirmed Granada to be one of the fastest
growing economic
regions in Europe. In fact, the FTs European Regions and Cities of
the Future 2005/2006
competition,* found Granada to have one of the highest economic
potentials with a 14%
year on year capital appreciation in the property sector.
Last
year, tourist numbers were up by 25,88% in the Granada region. This
figure is expected
to rise again this year, especially with the increase in
international flights landing
at Granada airport. Conviently Ryanair, Monarch and British Airways
fly to Granada.
*
Organised by Foreign Direct Investment, Part of the Financial Times
Group
What makes Granada such a great investment?
There
is no other place in Spain quite like Granada. Only 1 hour from the
fine beaches of
the Costa Del Sol, only 40 minutes from the unspoilt coastline of
the Costa Tropical,
Granada is ideally situated and easily accessible with a good
infrastructure and
an international airport. It´s vibrant city with four major
universities, home to Spain´s
best Ski-resort and home to the UNESCO world heritage site THE
ALHAMBRA. Granada
is a city of youth looking to the future.
Foreign market survey:
Surveys
predict that there are 800,000 foreigners planning to buy a property
in Spain by
2007, 300,000 of whom will be Britons (36% of all overseas purchases
in Spain).
Taken
from Advanced Management Services Group
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Cheaper than the Alpine resorts and much more
fun in
summer, Spain's skispots are starting
to attract European buyers.
by HELENA FRITH POWELL
Think
of property in Spain, and most people imagine a sun-soaked seaside
villa with a
glimmering blue pool. Spain may not be as famous for its snow
as France or
Switzerland, but its skiing properties offers year-round use. Buy a place in
Andalucia's Sierra Nevada for skiing, and chances are you
will use
it in the summer, too, as a mountain base a short drive from Granada
and two
hours from the coast. Sierra Nevada is the southernmost ski area
in Europe, so
you are almost guaranteed to go home with a sun-tan. You can
ski in the morning and sunbathe in the afternoon, so it is ideal for
every family member.
Sue
Penfold, a PA teacher from Nottingham, grew up skiing here when her
father bought
a flat in the area and continues to head south, "It is Spain's
little
secret" she says. "The flights work well for a week-end
break. I arrive at
Malaga airport with my skis instead of my golf clubs, and people
look at
me as if I was mad." Penfold's
sister Samantha lives in nearby Marbella, and the two drive up to
the
Sierra Nevada in about two hours. Since their father sold up in the
1980s, the
property market has seen a lot of changes. "When they were
hosting
the World Ski Championship in 1995 they built roads and lots more
apartments. The drive from Granada at the bottom of the hill was cut
from
three hours to half an hour, " she says. Not for the first time
lack of snow
scuppered the plans. The championship were postponed, to 1996,
but at
least the infrastructure was ready.
For
Brits, another piece of infrastructure is now in place. Ryanair has
just started direct
flights from Stansted to Granada. From freezing Essex to sunny
Andalucia
in less than two hours for about £50 return; it doesn't take Mystic
Meg to
predict that it will help boost the already booming property market.
James Mckay
is one Brit looking to make an investment by buying an apartment
in either Sierra Nevada or Granada itself. At the age of 19, he
decided the
south of Spain is the place to be. "I'm going to get a job, in
a bar or
perhaps with a local estate agency " he says. "It's a
great here, bars
on every corner, pretty girls, great food." Mckay is learning
Spanish and
spends his week-end skiing. The kind of flat he is looking for, a
onebedroom with
kitchen and sitting room, will cost him about £100,000 in a resort
itself, according to Gary Elmer, a local agent who moved to Spain
just over a
year ago. Much of Spain has an air of being half-built in a hurry
and Sierra
Nevada is no exception.
The
apartments are plentiful but lack in charm, and there are building
in all
shapes and styles. "There are several builds in progress
offering a choice
of two or three bedroom close to the piste for between £100,000
and
£200,000, " says Elmer. They are concrete buildings and will
probably be
extremely comfortable (some advertise indoor swimming pools and
spa), but
will do nothing to increase the lure of the town. There is a row
of chalets
along one road in Sierra Nevada and one wonders why the town
planners didn't look at how well they worked beforegiving
permission
for the concrete jungle that has emerged. But people will always
flock to a ski resort, and especially one that offers so much
sunshine. In
addition according to Rupert Windle from Property Net, the rental
potential went up hugely due to the new Ryanair flights: "There
are numbers
of towns a short distance away from the sky resort and properties
are still relatively cheap compared with the Spanish costa regions.
Properties here are likely to become attractive as second homes
with rental
potential, because the new flights to Granada mean you can be
skiing in the Sierra Nevada within an hour of landing".
Although
Spain is not the most obvious choice for a skiing property, it
has a lot to
offer, both in terms of locations and prices. And if you get bored
of the slopes, many of the resorts are close to the sea so you
can pack your
bikini and your salopettes. Not bad for a winter holiday.
EXCERPT
TAKEN FROM SUNDAY TIMES 6th MARCH 2005
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