Puerto Banus is a famous resort town in Marbella, Spain on the Costa del Sol. Created in 1970 by an ambitious property developer it was intended as a sunny getaway for the rich and famous. But in later years it became popular with ordinary tourists who wanted a taste of the good life. In fact, more than a million people visit Puerto Banus each year, many of them from the UK.

With a picturesque marina that is home to some of the world's most expensive yachts and an exclusive shopping complex, Puerto Banus is a popular celebrity hangout. And because it offers great restaurants, night clubs and water sports, the marina hosts thousands of hen and stag parties each year.

But the party could not go on forever. Like every other region of the country, Puerto Banus has been impacted by the historic Spanish housing crisis. Home sales in the region are off by more than forty percent from their highs and prices have taken a beating as well. The average home in Puerto Banus has lost nearly half of its value over the past three years. Is now a good time to buy property Puerto Banus ?

Whether we are talking about the stock or real estate market, calling a bottom is always a risky proposition. The fact is that the Spanish real estate market is still under a great deal of pressure after more than three years. Sales are still down and home values have yet to stabilise.

But if history is a guide, we do know that popular resort towns are far more likely to recover from a real estate crisis than housing in other areas. So, investing in a home in Puerto Banus could pay off in the end.