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Real Estate Agents in Marbella

Marbella Infographic-stats

Real Estate Agents in Marbella

Situated along the Costa del Sol, Marbella is known all over the world as one of the classiest holiday destinations in Europe.

Let’s have a look at the Property Market and see who is buying property in Marbella. Hansa Realty Real Estate Agents in Marbella has a portfolio of property that can satisfy a range of budgets.

Who is buying what and where in Spain?

  1. The Market is supporting those with independent  financial means, it is still a buyer’s market
  2. British buyers are still leading
  3. The Dutch Market has remained consistent
  4. The German Market remains weak
  5. The Belgian buyers demand has increased significantly
  6. The French buyers demand has increased
  7. The Scandinavian buyers dominate the mid to high-end of the market and opt for luxury apartments
  8. Followed by wealthy the Russians who prefer villas and luxurious penthouses
  9. It will take around 2-3 years for Spanish domestic buyers to return to the market

What is being sold?

  • In September 2008 during the crises, the market in general remained static for several months. Then sales started again in 2009 with substantial price decreases.
  • What continued to sell, in a substantially lesser volume, were properties priced under €800,000. However, there was little interest in properties much over €1,000,000.
  • The larger and more expensive properties have started to sell in the last year
  • In La Zagaleta, perhaps the most exclusive gated community in Europe, there have been at least 12 sales, at prices ranging up to €13,500,000, and an average sales price of around €5,500,000 since October 2012.
  • There is a wide variety of villas, townhouses and apartments for sale belonging to serious sellers in the €250,000 to €1,000,000 price range in great residential areas and at highly competitive prices.
  • There are more villas for sale today under €1,000,000 than ever before, most of them substantially reduced in price.

Banks and Lending in Spain

  • It is great to see that mortgages are becoming available again.
  • The statistics show a 36% increase over 2013 and a total spend of €4.2bn on property, with the majority of purchases being in resale properties.
  • During August 2014, residential mortgage signings increased by 23.8%—the third consecutive month to show a rise.
  • The average value of a mortgage loan increased by 5% to €102,430 and the total value of mortgage lending rose by a stunning 31% to €1.54 billion.
  • In 2014, the pound appreciated by 8% against the Euro, which makes buying Spanish property that much more attractive for British cash buyers.

Sales transactions in Marbella

  • Housing sales in Spain have risen again for the third consecutive quarter, as 13.5% more houses were sold in the third quarter of the same period last year.
  • The record remains at 251,649 homes sold, which was set in the second quarter of 2006.
  • Whilst 95% of transactions were for private houses, a majority of the resale market, just 15.1% of sales were for new homes.
  • Total number of residential property sales in Marbella was 4,102, showing that there has been an average growth every year since the crises hit. In 2011 the percentage drop was -19%.

However prices of properties are still way below market peaks

Spanish Property Prices are still low

  • Prices are still 15-25% below market peaks even in the most consolidated areas.
  • Higher priced properties over €1.5 – €2 million, when sold, are not always replaced with similar priced properties, indicating that there will be a shortfall in the best priced, more expensive properties in a very near future.

So if you are looking for a great deal you need to think and act fast before the best of them are gone.

 
 

Published in Costa del Sol Property News |