Property sales increased more in Marbella last year than anywhere else in Spain

The property market in Marbella is recovering and the town is now showing signs of being a leader in this sector. This emblematic town on the Costa del Sol ended last year with a total Property Sales increasedof 3,115 property sales , a figure which is similar to that of 2007, before the bubble burst. In terms of total figures, Marbella is now in a similar position to Malaga city, where the recovery in the property market has failed to take off and the number of sales has fallen for three consecutive years.
The results for property transactions last year, which have just been released by the Ministry of Development, reveal that Marbella is the Spanish town in which the number of sales has increased the most, by 23.6 per cent.
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New expat residents association launches in Estepona

AN EXPAT residents association has been launched in Estepona, which will fight the corner of the town’s large number of foreign residents.New expat residents association launches

The Associacion de Residentes Extranjeros de Municipio de Estepona (AREME) will speak on behalf of its members with public institutions, with the aim of improving services and provisions in Estepona.

It already boasts one coup, successfully reinstating the local bus service.

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Mini housing boom in Malaga’s ‘Golden Triangle’

LUXURY housing in Malaga’s so-called ‘Golden Triangle’ is leading the way in the resurrection of the construction industry.Mini housing boom in Malaga´s 'Golden Trianlge'

The ‘Golden Triangle’, made up of Marbella, Estepona and Benahavis, is seeing an increase in both the sales of homes and in the construction of luxury housing.

During January and February of this year, Marbella Town Hall has seen an increase of 20% in the licences for luxury homes.

So far the town hall has authorised licences for 18 new housing projects with a combined worth of over €9million.

If construction carries on at this pace, the number of projects for 2014 could be double that of last year, which ended with a total of 64 licences issued.

But Pablo Moro, the councillor in charge of town-planning in Marbella, emphasises the need for caution in analysing the data.

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Spanish market offers bargain basement homes

ALMOST one third of Spanish houses are on the market for less than €100,000.Price Fall

The number of houses sold at that price or less over the past 12 months is even higher -around 64% – according to property site Globaliza.com.

The figure has surged from 2.9% before the onset of the economic crisis and ensuing collapse of the real estate market.

A staggering 68% of houses in Sevilla were sold for less than €100,000 in 2013.

The average property is a three room flat, 83 square meters in size, located in middle class areas of towns and cities.

These properties have lost around 48% of their market value over the past six years, and 7% of their 2007 values have been lost over the past 12 months.

The value of Housing in Malaga, meanwhile, has lost over half its value, 56%, since the property bubble burst. A total 16 percentage points of this decline has come in the past year.

A report by Technocasa found that factors affecting prices in Malaga are as simple as the availability of a lift in an apartment block; those with the facility are priced an average 12% higher than those without.

Olive Press orginial article