Final Draft of Marbella PGOU Town Plan Approved

Finally some good news for  the MarbellaProperty Market! Yesterday the town council approved the final draft of the famous PGOU (Town Plan). After years of shady mayors and illegal construction, Marbella will now have an official Town Plan to bring a bit of stability to the local property market.

The plan now has to go to the Junta de Andalucia in Seville for final approval – this will hopefully happen before the end of the year.

The following are some of the major conclusions from the final draft of the PGOU:

• 16.500 properties will be legalised – the town hall will be compensated both economically and with land.
• Marbella will recover public spaces as a result of the above mentioned compensations.
• Innocent third party buyers who purchased their properties in good faith will not have to make compensation payments – this was vital for maintaining the credibility and good name of Marbella, we cannot even begin to imagine what would have happened to the property market if owners were forced to compensate the town hall for something they had nothing to do with.

So now we will have to wait for Seville to give the final “OK” and hopefully begin to see a long awaited recovery in Marbella’s Property Market.

This entry was posted on Friday, July 31st, 2009 at 2:25 pm You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.