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Great news for property investors or property buyers in Marbella 2014

Marbella in 2014 is everything we hoped for and more. It’s even surpassed our very own predictions for the property market in Spain. Property sales in Spain are up by 8.8% thanks to foreign investors – recovery is just around the corner!

Buy property in Marbella

The latest data from the National Statistics Institute shows that property sales in Spain saw a strong boost compared to last year in the month of June. So far, it’s been a year on year increase, and in June of 2014 it was the fourth consecutive monthly rise following the same results in March, April and May. Home sales rose by a staggering 22%, 5% and 5.4% – bringing us to date.

The sales growth is mainly due to the sales of existing homes; however, the sales of new homes has fallen by 3% year on year.

Where were the highest number of property sales?

According to the stats the highest number of home sales per 100,000 population were in Valencia, followed by the Canary Islands and the Balearics. The regions where home sales increased the most were Madrid, with a rise of 30.4%, Extremadura with 25.7% and Navarra up by 19.3%.

What about property on the Costa del Sol?

It seems foreign demand for second homes on the Costa del Sol has turned 2014 into an incredibly strong year. Buyers from overseas are looking to the Costa del Sol and Marbella because they regard the property deals as to good to pass up.

Reports also show that 90% of foreign buyers can afford to buy without any sort of financing; on the other end of the spectrum, locals face a brick wall when trying to get a mortgage – we expect this to change soon as well.

Visit Marbella this Summer with Hansa Realty

Currently the average new apartment for sale on the Costa del Sol is 127 square meters with two bedrooms and costs €196,956. The average single family homes is 279 square meters and costs €393,520. That means prices have fallen 5.7% and 9.7 % respectively in a year.

The future is looking bright here on the Costa del Sol, and forecasts are predicting that holiday home prices in the best areas around the coast, like Marbella and the Golden Mile that are close to all amenities will stabilise this year.

 
 

Published in Costa del Sol Property News |