In the present situation, investors in Spain are looking to the cheaper end of the market, says Diana Wildman

Golfers keen to enjoy the superb facilities of the western Costa del Sol’s championship courses as well as investing in a reasonably priced coastal apartment located within a 15-minute drive of ten of the best of them should consider Punta Paloma.

This is Spanish developer Noriega’s apartment scheme edging the white villageof Manilva with easy access to the coastal dual carriageway road and boasts superb sea views.

At prices from €250,000 for a smart one-bedroom unit that includes a basement store room and garage as well a large south-facing wraparound terrace, even in today’s slow market these homes offer excellent value for money and the chance of a regular rental return.

One reason is because there are no expensive leisure facilities to cost into the purchase price apart from a large communal pool and small putting green. Also, Punta Paloma is the final phase of the long established Paloma estate so security and landscaped gardens are already in place.

The apartments are sleek, light and surprisingly spacious with fitted kitchens, en-suite bathrooms plenty of built in storage and fitted wardrobes. A fully furnished show home is open and the first phase of 138 one to four-bedroom properties are due for completion during this summer. The two-bedroom apartments are from €279,500, three and four bedders are from €350,000 to around €500,800.

Noriega can arrange a full furnishing package and put owners in touch with a local rental and management company.

Now that there are so many good golf courses in this region of Andalucia, numbers of second home buyers are choosing not to join a specific golf club. Pay and play facilities now exist at virtually all the best courses and prices at some have been reduced, particularly in the low golfing season. In the current Spanish market, canny investors are looking to the cheaper end of the market.

Buyers at Punta Paloma do have the option of the arrangement Noriega has drawn up with nearby Duquesa Golf Club where owners can obtain 15 per cent discount on both an annual season ticket and daily green fees. Duquesa, 5,672 metres (6,240 yards) off the yellow tees, boasts long sloping fairways with the front and back nines offering two distinctly different challenges.

The first nine holes have narrow fairways and high greens with the tricky signature fourth hole having sweeping views over the Mediterranean. The second nine has easier wide fairways but testing greens as there are wide fairways. Most holes have views towards the sea or the hills.

The price of an annual ticket is €1,800, a six-month season ticket €1,200, with a standard green fee €65. Owners at Punta Paloma are entitled to 15 per cent discount on all these prices. Advantages to season ticket holders include guaranteed tee times, the right to use the indoor swimming pool, gymnasium, tennis courts, unlimited use of the practice range and discounts at other golf clubs.

Sotogrande is within a ten-minute drive where the following courses within the estate offer green fee access:

Valderrama: Weekday green fees €260. Weekend green

fees €290.

Real Club Sotogrande: green fees: €160.

Almenara Golf: green fees: €85.

La Reserva De Sotogrande: green fees €160.

La Canada: green fees €50.

On-site sales office: +34 952 893 980. This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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