However, it is not the powerhouse it once was. Research from D2Rworldwide. com reveals that internet searches for property in Spain are in slight decline, with countries like Bulgaria beginning to challenge its dominance.

Similarly a readers' survey in the property magazine Househunters in the Sun found that most buyers were looking to new markets like Croatia, Turkey and Cyprus. Only 10% were looking in Spain alone, compared to 13% who had their hearts set on France.

Like any capitalist market, when the competition increases the product on offer improves. This appears to be the case in Spain and buyers are benefiting from better facilities, prices and services from agents and developers.

Although it has suffered some bad press in recent weeks due to planning irregularities, and the 'Costa Del Crime' tag still refuses to die down, Marbella still attracts the most attention and has proved itself a survivor. Property values are increasing again, according to Karl Morris, managing director of Simple Overseas Properties, which has 11 offices in Ireland.

"We have seen a new surge of interest among Irish buyers in the last six months. Newbuild property prices in Marbella, for example, have risen by 20%-22% per annum over the last three and a half years, showing a total increase of 70% in property values over the whole period, " says Morris, who lives in the area.

One of Simple Properties' largest Costa Del Sol properties was Valle Romano golf development in Estepona, just outside Marbella. Consisting of 120 hectares and over 3,200 low-density units, it was one of the biggest developments in Spain. The development is environmentally sensitive and has initiatives such a theatre, museum and international library built into the plans for a unique selling point.

Grupo Erasur, based in Marbella, has over 30 years' experience in developing homes in Spain. Earlier this year it launched several new project phases and developments with added extras.

Benatalaya, in the Marbella region, consists of 205 luxury apartments, divided into 18 small blocks within reach of the Atalaya golf course. The unique selling point here is that every purchaser gets a share in the Atalaya Golf and Country Club, with full access to both 18-hole courses.

Experts report that the value of golf course shares has tripled in the last five years, so this can also be an added income generator. The shares included in the purchase of a Benatalaya property are currently valued at about 30,000.

The apartments have a high standard of finishing with antique marble flooring, underfloor heating in bathrooms and hot and cold air-conditioning.

The lounge and bedrooms have a home cinema system and Sky Digital. The kitchen is fitted with Siemens appliances, and there is also a spa, sauna, gym, Turkish bath, jacuzzis and heated indoor swimming pools, as well as a reception and 24-hour security.

"The location of Benatalaya was carefully selected to ensure the best views. The interiors and extra fittings provide our clients with luxury living, which is not just to be lived in but is to be enjoyed, " says Mari Paz del Pino, commercial director of Erasur.

The second phase of the Benatalaya development is due for completion in July and prices for a two-bedroom apartment start at 403,028.

Also within the Marbella catchment area is Erasur's other new development, Capanes Del Golf, situated within the new Marbella Club golf course. Several features mark this development out from the others. Whereas normally the properties are built around the golf course, here the course winds around the development, with a long drive up to the entrance gate.

The average price of properties is usually approximately 4,000 per square metre, but in Capanes Del Golf it is 3,100, reports del Pino, who believes buyers should look at the price per square metre as well as the location and view.

There are 267 apartments in the Capanes del Golf development. Perched on a hill, the 32 blocks are built in a pyramid, Babylon-style, with a descending number of apartments on each floor leading to the penthouse on the top. Phase one is due to be completed by December and the whole project to be finished by October 2007. Prices start at 517,192 and go to over 1m.

Like the Benatalaya development, Capanes Del Golf includes a share in the Marbella Club Golf Course, currently valued at about 45,000.

However, if the owner ever decides to sell the share, the club has first refusal on it.

While price hikes have slowed down, del Pino reports that, between 2000 and 2004, prices rose by 16.6% a year.

She also reports changes in the market in the past few years. A 6,000 reservation is required, topped up to 20% of the price 30 days later and the final 80% due on completion.

Companies are also upping their game in pre- and aftersales. MacAnthony Realty International, owned by 29year-old Irishman Daragh MacAnthony, offers several extra services. For those interested in investment only . . . and the Househunters in the Sun survey found that 76% of Irish buyers are . . . the company has set up the MacAnthony Realty International Investment Club. Members get to hear about opportunities first, and can avail of competitive prices.

MacAnthony's main addition is its Lifetime Aftersales service, which offers services such as money transfers to mortgages, extensions, airport collection and car hire. It also offers key collection, insurance, security advice, even help with furnishings. The Lifetime Aftersales service is available for an annual subscription for 265, or 1,200 to clients who have not purchased through MacAnthony Realty International.

Erasur (01-44 039 75) www. erasur. com Simple Overseas Properties (1850 250 711) www. simpleoverseas. com MacAnthony Realty International (1800 211 426) www. macanthonyrealty. com