Luxury Spanish Development by UK leading housebuilder

22 January 2007

Principal International in association with one of Europe and the UK’s leading quality house builders has recently announced the acquisition of a site to build a new luxury development in Competa, on the Spanish Costa del Sol.

The site to be named Terrazas de Competa will consist of 50, 1,2 and 3 bedroom luxury apartments which are being released for sale off plan early 2007.

Competa is situated at the foothills of the Sierra Almijara 700 meters above sea level with stunning views over the countryside. The development is 11 kilometres from the coast, and set amid a typical Spanish whitewashed town, adorning a labyrinth of narrow cobbled streets and charming plaza’s.

Translated “crossroads” or “meeting place” Competa is located 45 minutes from the nearest international airport just east of Marbella and the pretty town of Nerja. There is an annual wine festival in August aptly named “Night of the Wine” where tourists can sample locally produced sweet and dry wines amidst a flurry of Flamenco dancers and Sevillana music.

The town whilst small and traditional is totally self sufficient boasting a magnificent 16th century church , a bustling food and flower market and several shops restaurants and bars. This makes it an ideal tourist getaway whilst retaining the local charm and history of a typical old Spanish town.

Spain is set to become one of the most popular destinations for the British investor in 2007 but experts say that the more shrewd buyers will be looking for property in the upper end of market. Taylor Woodrow undoubtedly has a reputation for building quality units both here and in Europe and this development is certainly expected to fall in this category. With the climate and low cost of living still being major factors in deciding where to holiday, investors are expected to snap up these units and cash in on the rental opportunities that the Spanish market continues to provide.