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The future looks bright for Marbella real estate

If 2013 was the year the Marbella property market started its upward trend, and 2014 and 2015 saw the solid consolidation of these gains, then 2016 looks set to see the real estate industry accelerate its growth further.

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Marbella has now also been joined by the rest of the country in this property market revival, with many professionals forecasting a good year for this important sector, especially in the major cities and coastal hotspots such as the Costa del Sol.

Within the past few days several sources have released highly positive figures—most eye-catching was the news from Spanish notaries that January sales were up 26.6% on the same month of 2015. In addition, the notaries reported that prices rose 2% for the same period and the number of mortgages granted was 30% higher, indicating more liquidity entering the market and a generally improving economy.

Property development companies have been quick to spot the trend, a fact reflected by the 20.3% growth in construction activity during January over the same month in 2015 as reported by Eurostat—the greatest increase recorded in Europe. This is of particular importance as it shows renewed confidence in the Spanish real estate market among domestic and international investors. It has also been noticeable in Marbella and the Costa del Sol that new build properties have been selling particularly well, making it a market sector developers are keen to cater for, especially at the high-end.

Confidence returning to Spanish economy

Confidence in the Spanish economy generally has also been boosted by a surge in bookings for vacations in the country, raising hopes for a third record year in succession for the important tourism industry. UK travel companies body ABTA has reported a 27% rise in summer bookings to Spain, with similar figures being reported by Scandinavian countries. Results for Easter—the first important tourism week of the year—indicate forecasts are on target, with Marbella hotels reporting 80% occupancy generally and many five-star establishments being fully booked out over Easter weekend.

Figures such as these help to explain why substantial investments in real estate, worth a total €400 million, are being made at Las Chapas and Sotogrande, as we have previously reported. To these can be added the Saudi-based Cayman Group, which has signed an agreement with the developers of La Mairena, investment interest from China’s Wanda Group, which has held talks with hospitality and real estate industry professionals in Marbella, and the return of the UK’s Resolution Property to Marbella in partnership with Swiss company Be Capital, for a €100million fund to invest in high-end commercial, hospitality and residential property in the Marbella area.

Hansa Realty has many years of experience in the investment property market—both residential and commercial. Should you be looking to invest in real estate in the Marbella area, please contact us and we can discuss your personal requirements.

 
 

Published in Costa del Sol Property News, Marbella Property |