According to recent official figures residential property sales in Spain have hit their highest level in 3 years.
However the report issued by the National Institute of Statistics has tempered this good news with the fact there is still a collapse going on in the new home market.
The data produced recorded that in May 2015 there were 26,455 homes were sold up 5% on the same period last year and 11% on the year before that.
But when you delve into these figures you see that increase has mostly occurred in the resale market with a 34% increase on last year’s figures with new home sales seeing a 42% drop with just over 6000 sales.
Spanish Property experts such as Mark Stucklin owner of the excellent website Spanish Property Insight are of the opinion that the recovery of prices and sales are being seen in regions that attract foreign buyers but because of a lack of quality and attractive new homes being built in these areas it is the resale market that has benefited.
But this is all about to change.
For example if we look at Marbella there has been a burst of new developments seen on the coast in the last 12 months as the demand for new properties continues to grow.
Land sales are on the increase and prices with it as developers look to grab the prime spots still available on the coast. This is not only happening in Marbella itself but is apparent in other locations such as San Pedro de Alcantara and Estepona.
This demand for land is not only being seen in the residential market but in the commercial and tourism markets as the Costa del Sol start to get the feel good factor back and start building for the future.
With a favorable exchange rate for non euro Northern European markets such as the UK and Scandinavia and prices that still offer a lot of value other Euro states such as Germany, Belgium, France and the Netherlands the market in this region has a lot of attraction for those who want their dream home in the sun.
What is clear about this increased demand is that buyers want a complete, ready to live in property that has all the latest luxury interior brands and latest technology.
If you can couple this modern style with a prime location then you literally have a winning formula with some developments selling out in a matter of weeks.
The Costa del Sol and its iconic flagship Marbella offer an ideal retirement, relocation or holiday home environment with endless sunshine and a central European location where you can be most places in Europe within 3 hours.
Add in the new public developments, more high quality restaurants, shopping and family based entertainment it is no wonder demand for property in this area is on the rise and showing no signs of slowing.
Prices are still presenting value and with an excellent exchange rate as well buyers are not only being attracted here for the lifestyle but can now see potential for long term growth.
How long this golden window of opportunity stays open nobody can be sure but it will close at so some point it will close so if you are thinking of making the move into the property market anywhere on the Costa del Sol now is the time.
With over 400 properties on our site and growing we can find you the property you want. Call or email our team today to find out more.
Source for article – http://www.propertywire.com/news/europe/spain-real-estate-sales-2015072010765.html