Whilst it may not generally appear to be so when you hear the news, the 2017 forecast for Spanish property is exceptionally positive. Without a doubt, Marbella has been experiencing a huge boost in tourism this year especially, and property in the area has been steadily growing for a while. Many people in both England and Marbella have concentrated on the potential negative consequences of the Brexit vote and the weak exchange rate that accompanied it, yet in September the number of tourists from the UK to popular Spanish holiday destinations, for example, the Costa del Sol were up by 12% compared to 2015.
When examining property figures for the whole of Spain, the 2017 forecast for Spanish property is likewise extremely positive, as is apparent by the way that requests for planning permissions to construct new properties were a noteworthy 35% on 2015, while the quantity of home loan demands ascended by 6.4%. Property sales have also increased and costs are rising gradually, with interest for cutting edge style properties especially strong and driving a resurgent property development sector. Everything combined is pointing to a strong 2017 forecast for Spanish property in a nation where monetary development is probably going to be around 3% and unemployment dropped unequivocally inside a year amid which Spain was for the most part without a government.
Many people may dispute that most countries are controlled by beaurocrats, not governments, but in fairness- the latter do create and endorse public spending, infrastructural investment and a host of other economic incentives – and since Spain has done so well without a government, just think how well it could do with one!
The New Government
Following a period of approximately ten months, the nation at last has moved out of political chaos to form a centre- right coalition that will hope to expand upon the financial development of the country, continue to reduce the public deficit and also has hinted at reducing the tax burden to an extent. In conjunction with a stabilised banking system, good inflows of foreign investment and more bank lending, the 2017 forecast for Spanish property could not be better. This standpoint is shared by Marbella, which continues to be prominent among Brits, as well as an undeniably assorted market of individuals from all over Europe and the rest of the world.
Which Areas Will See A Rise In Property Sales?
The precise neighbourhoods in the Marbella area that will see a rise in property sales is still uncertain. However, ever popular areas are the New Golden Mile– offering luxury living at bargain prices, Benahavis (for those looking for stunning views and nature) and San Pedro Alcantara, which is the place to be when it comes to Gastronomy and beaches. The amount of Brits investing in property so as to “flip” them and make a profit is increasing at an astonishing rate and even something as simple as looking at the amount of traffic on the roads in November is a clear indication that the economic crisis that occurred a few years ago is now just a distant memory.