Prime locations attracting investment

Some of Andalucia’s prime locations have seen a slight improvement in their property market over the last 12 months, a report has claimed.

Barbara Wood, an agent with The Property Finders, said that investors were focusing on prime assets with the market currently in a similar condition to that of the mid-1990’s.

“In 2012, the buyer is remarkably similar to the 1995 buyer – cash rich […] and only interested in quality properties in the very best locations,” she said, adding that “virtually 100 per cent” of property purchases in Andalucia are within “a handful of prime locations”, with  Marbella being one of those hotspots.

Ms Wood went on to suggest that over the next 12 months buyers would be most likely to purchase in the prime areas and properties of  higher quality, ignoring the less desirable areas and properties in poor condition.

This follows comments made earlier this week by Marc Pritchard, sales and marketing director at Taylor Wimpey de Espana, who is positive about the outlook for the Spanish property market in 2012. Mr Pritchard said that he doesn’t expect house prices in the most desirable areas to fall further this year and instead expects to see significant growth in these areas.

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