Marbella Property To Receive Boost From Infrastructural Improvement
News Posted On: 11 May 2012
Holiday rental properties in Marbella are set to receive a boost as a new underpass is finally due to open next month. It has taken nearly five years of controversy and construction for the San Pedro underpass to be built. Its opening should make it much easier for people to travel between the western Costa del Sol and Marbella, thus providing a welcome boost to both the property market and the tourism industry.
The San Pedro underpass was originally due to be completed in 2009, and its construction created a congestion black spot for several years.
The underpass is situated on the A7, and consists of a tunnel that is almost a kilometre long. Its construction eliminates the need for traffic lights, and should make access to towns like Manilva, Estepona, and Duquesa a pleasure rather than a nightmare.
The total cost of the construction project is expected to be around €85 million, but it is anticipated it will be very well used, with some 65,000 cars travelling through it every day. Its opening will immediately make a number of new developments more attractive, including one around 30 km south west of San Pedro. This particular development was repossessed by the bank, and apartments that cost €260,000 in 2007 can now be bought for as little as €106,700.
Such properties can even be purchased with a 100% mortgage from the banks, as they are anxious to get these developments off their books. Marbella is less than forty minutes’ drive away, and with direct flights taking less than an hour from the UK, it and other developments like it are likely to become pretty popular.
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Written by Les Calvert
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