Puerto Banus Property
Area Guide
Wander down to the marina – one of Europe’s most exclusive harbours – and marvel at the sleek boats and million dollar yachts of the rich and famous before enjoying a coffee at a nearby outdoor café and soaking up the Hollywood ambiance; enjoy a challenging game of golf on one of the many world class golf courses, all set within beautiful locations and providing magnificent backdrops whether of the surrounding rocky mountains or the glistening blue Mediterranean Sea; while away a relaxing morning sunbathing on the terrace of your luxury penthouse apartment with fabulous views of the Mediterranean before enjoying a leisurely lunch of freshly cooked tapas – start with plump local olives and some Serrano ham and then perhaps some chilled gazpacho soup followed by prawns grilled in garlic and olive oil and ‘Pinchitos Morunos’ - delicately spiced skewers of pork all washed down with chilled local white wine or ‘fino’; dance the night away at one of the many trendy nightclubs or finish off the evening with a relaxing drink at the quieter Piano bars facing the marina; Located in the heart of the Costa del Sol – right next door to Marbella - and enjoying a sub-tropical Mediterranean climate with hot summers and warm winters, there is an excellent range of property for sale in Puerto Banús offering investors the opportunity to become part of this beautiful, chic and vibrant seaside resort.
Puerto Banus history
Originally discovered in the late 1940s, Puerto Banús was a mecca for the stars of the day and Spanish aristocracy. It wasn’t until the late 1960s that local property developer Jesus Banús saw an opportunity to provide a glamorous and exclusive marina for Marbella’s international elite away from the paparazzi and inquisitive eyes; the result was a modern and glamorous marina that still had the quaint feel of a traditional Andalusian fishing village.
Officially opened in May 1970, the lavish ceremony was attended by a host of stars including film director Roman Polanski, Playboy founder Hugh Hefner and Prince Rainier and Princess Grace of Monaco. Puerto Banús then rapidly become the darling location of the international jet set and since then has developed into an international resort still drawing the fabulously wealthy, famous actors and international celebrities.
The focal point of the town is the marina, which has berths for over 900 boats including those of the King of Saudi Arabia and several of the world's wealthiest individuals. Behind the harbour lie narrow streets filled with designer boutiques, chic restaurants and bars and trendy nightclubs.
Sports and leisure in Puerto Banus
Sports are easily incorporated into the Puerto Banús lifestyle; there are a total of 30 golf courses within a 10 kilometre radius and a wide range of water sports such as windsurfing, sailing, scuba diving and fishing. And if that is all too much effort then there are numerous spas where you can treat yourself to a relaxing facial or massage. The beaches at Puerto Banús stretch out on either side of the harbour and are the popular places to be seen - particularly the Ocean Club or Buddha Beach if you are celebrity watching! For those just wanting to chill with their families then head to Azucar Beach with its play area and Chiringuitos (beach restaurant) serving local seafood.
Property for sale in Puerto Banus
Due to its popularity in both winter and summer, property for sale in Puerto Banús is an attractive investment with a strong rental market all year around. There is a wide range of property for sale in Puerto Banús to suit all budgets and tastes including exclusive developments, apartments, penthouses and villas all just metres from the sea.
The Medina de Banús development is in one of the best positions, within 10 minutes walking distance of Puerto Banús. The 160 Moorish-style luxury apartments and penthouses properties have been designed in the style of a traditional old Mediterranean town and set in secluded subtropical gardens. Currently there are a number of bargains to be had in this development with properties being offered at substantial discounts with penthouses available from €650,000 and two bedroom apartments from €350,000. The Los Naranjos de Marbella development is also within walking distance of the marina and has a good range of properties for sale for a variety of budgets, with prices starting from around €175,000 for a 2 bedroom property.
Malibu
However, the last word in luxury is the new Malibú development, with 72 spacious apartments and penthouses for sale overlooking the sea with views to Gibraltar and the African coast. Just minutes’ drive from Puerto Banús, all the properties have been built using the highest quality hand-crafted material and residents also have use of an on-site gym, pool and sauna. Prices are at the top end starting at around €1.4m for a two bedroom apartment.
Buying in Puerto Banus
Whether you decide to buy a modern apartment with sun soaked terrace and panoramic views or a luxury and secluded villa gazing out across the sparkling Mediterranean Sea, the wide range and standard of property for sale in Puerto Banús provides investors with the perfect opportunity to buy property in one of the most exclusive and famous areas on the Costa del Sol and enjoy a quality of life that is second to none. Although more expensive compared with the rest of Spain, prices in Puerto Banús are still reasonable so now is a good time to buy. The combination of the sea, the glamourous harbour, chic restaurants and buzzing nightlife combined with the wonderfully mild climate all year around make Puerto Banús a perfect holiday and property investment destination.
Buying a Property in Spain
1. Putting down a Holding Deposit
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.
2. Setting up a Pre-agreement (Contrato privado de compraventa)
The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.
3. The Contract (Escritura de compraventa)
Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.