15.7% Rise in Coastal Property Prices

September proved to be a valuable month for Spanish property prices; Spain’s recovery plan continues to be on the right tracks with the average property price increase of 4.8%.

According to the valuation company Tinsa, property prices gained in all sectors with 7.3% in larger cities and capitals and a fantastic 4.7% on the coastal areas.
Albeit the price of property is still considerably lower than the boom time at 35.7% lower, the prices have increased by 12.1% since the global crash. This is great news for people looking to invest in property in Spain or searching for your retirement home or holiday home in Spain. In just over 3 years the property prices in coastal regions have increased by 15.7% giving great news for the investor.

This year 2018 has yet again seen record numbers of tourists flock to the Costa del Sol aiding the property recovery and showing investors and overseas buyers which locations to take advantage of on the coast. Marbella and surrounding areas has been a mecca for investors due to the hugely popular rental market. These areas can only continue to benefit in all aspects from tourism to the increase in property prices and rental prices.

Other news from the valuation firm that shows the extent and the solidity of the property recovery and economy in general in Spain is that property sales has risen by 18”% year in year. New off plan building licenses that have proves to difficult to get or even pass in previous years have grown by 46.2% year on year, this is a remarkable figure and again adds to the strong investment market for buyers of off plan properties in the coastal areas surrounding Marbella. Final figures from Tinsa also show that mortgage application that have been successful have also risen by 17% year on year showing that banks in Spain are becoming stronger and more satisfied to lend property buyers money again.

Unemployment in Spain has also decreased again year on year by almost 6.1%.

After reviewing the data provided by Tinsa, we have established that the recovery of the Spanish property market shows no sign at all of slowing down. We can confirm that we have a strong enough demand for properties in the off plan new build sector due to second hand older properties drying up, with property prices still on the rise but at more of a sensible rate than pre boom we can still see confidence from buyers and investors.

Fallen in Love with the Costa del Sol whilst on holiday this summer?

Fallen in Love with the Costa del Sol whilst on holiday this summer?

The most searched holiday home destinations on Zoopla is Spain with the most popular search term including: pool, beach and sea view.

Searches for Spanish properties has risen 44% year on year with Marbella, Estepona and Mijas having a huge increase in popularity.

Portugal searches were up 16% however actual sales have stayed steady and a huge reason for this is the short summer season compared to all year round markets in Costa del Sol.

Imagine sitting in the blazing sun by a swimming pool or the sea and the waiter brings you some more tapas, another cocktail and all you have to do is concentrate on topping up your suntan lotion.

Then its time to set off for the airport to head back home, you land, its rainy, cold and its August…..

What many people are doing is charging up that laptop, grabbing a cup of tea and a scone and start the search for their dream holiday home back where you just came from…

The biggest issue with searching for a property is not the property itself but the agent that is listing the property. Most are uninterested in what you want and are simply focused on what they want to sell you.

To avoid this you must go with an agency that has your best interests at the fore front of the search.

Absolute Marbella is well know for its no nonsense no frills approach to finding the right property for you the buyer. Tell one of the professional agents your exact specifications and they will do everything possible to find the right property for you. What many buyers do not know is that certain real estate agents in Marbella have access to every single property listed on the whole of the Costa del Sol. This means that if the agent does not have the listing then they will source it from another agent that may not have the capability to capitalise on international marketing.

So the property for you may be right out there, whether you want the old finca on the country or be located right near the coast in a modern villa or apartment where the main goal is to generate an income from long or short term rentals, Absolute Marbella can and will help with every single part of your search from the search, buying and renting and managing the property on your behalf should you need.

Search for properties for sale in Marbella on Absolute Marbella: http://www.absolutemarbella.com

 

 

Spanish Property Sales Continue to Rise

Spanish Property Sales Continue to Rise

According to the latest property sales figures from the National Institute of Statistics (INE) there has been a large increase in the amount of homes sold in Spain.

In June alone we can see figures up by 19% comparing to the same month last year with over 39,000 residential property sales taking place.

Since the huge Spanish recession that lasted for around 6 years, market analysis highlights that monthly home sales have risen annually almost every month since March 2014.

The analyst expects new home sales to continue to grow for the next few years as off plan sales lead to completions.

Even with brexit the Costa del Sol was the second most popular place to buy for British buyers where sales are up 12%.

Spanish property transactions reach 6 year high

Previously the highest number of transactions reported in Spain was February 2011, figures have just come out stating that March 2017 is now the month to beat with 40,641 properties sold in Spain.

The whole of Mainland Spain has seen increases in growth whilst the Canary Islands had a decline of 3.5%.

The first 3 months of 2017, Spain’s Central Statistics Unit registered 15% more property sales compared to the same time period in 2016. The total number of property sales for the last 12 months including the month of March 2017 has seen the increases of 15.1% compared to the previous 12 months.

As mentioned in a previous report the Spanish property recovery is well on track and we have seen huge increases in enquiries and sales for property in the Costa del Sol specifically. With a new breed of buyer entering the market we are expecting 2017 to be a huge year for the real estate market in Marbella. Banks are offering great rates for foreign buyers, golden visas have been a successful addition for many clients outside of Europe and huge amounts of money is being injected into key resorts along the coast making the Costa del Sol one of the most desirable investment regions in Europe.