Many reputable statistics agencies are now forecasting widespread growth throughout the Spanish property market by the end of this year. Whispers of recovery have been circulating prime locations such as the Costa del Sol for the last 2 years and indeed, the market has stabilised and there has been significant investment in Marbella from international funds.
2015 kicked off to a remarkably great start thanks to a 28% increase in the total volume of sales in 2014. Whilst this is an impressive stand-alone figure, the significance of this improvement is even more obvious when compared to the harsher 2011 property market environment with a 77% increase. (Source: Spanish Ministry of Public Works)
Antonio Pérez, from El Instituto de Práctica Empresarial (IPE), says “In particular, the Costa del Sol property market has a bright future.”
Earlier this year expansion.com also reported an expected 24,000 more residential sales this year over 2014’s figures. It also goes on to explain that huge property price increases will be less virulent over the next few years in favour of an overall stabilization of the economy. In addition, speculative investors who have been seeking bargain properties from desperate Costa del Sol owners will soon have a much smaller selection of properties to choose from. As 2015 comes to an end, it will be much harder to locate the level of deals that have been available until now. Therefore, investors looking to bag a bargain should act fast!
It is clear to Spain Properties Marbella that the Costa del Sol property market is now in a powerful position. Málaga province represents 5% of nation-wide sales. If sales continue at the expected rate, this area (that includes Marbella, Mijas, Benalmadena and Estepona) will soon represent 30% of property sales for the region of Andalucia – 20% of the whole of Spain!
Of course, the current pound/ dollar exchange rate is also greatly aiding the Spanish economy and property market with a luxurious Marbella home-in-the-sun now available from as little as £80,000.
Spain Properties Marbella is now helping many private investors to realise their dreams of owning a property on the Costa del Sol at a sensible rate with potential for good future returns. We have access to an exclusive selection of bank repossession stock and we work with our property owners to achieve fast sales to the benefit of the vendor and the buyer.
For more information, contact us today. +34 667 898 347