Costa del Sol leading the way for Property Recovery

A recent study has provided evidence that there has been an increase in house prices in Marbella and Manilva. Off-plan new developments seem to have reached their minimum prices and indications are now showing a rise due to foreigners.

Two areas in Spain are showing definite signs of property recovery, Costa del Sol and Costa Blanca. The study that was undertaken gathered information from 60 coastal regions of Southern Spain and demonstrated due to financial establishments lowering prices that property was now selling faster.

Its still early days in respect of the Spanish construction industry however areas in the Costa del Sol and Costa Blanca are showing very positive signs. New constructions in the Estepona and Marbella area, which have been built with the foreign market in mind are building good interest.

The general consensus is that property prices are now slowing however this is only in certain areas of Southern Spain. Prices on the Costa del Sol for example have dropped to their lowest averaging a 1.1% drop in the first quarter of 2013 and 2014.

It is thought that property sales may increase as much as 25% this year in Marbella due to demand by foreigners.

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3 thoughts on “Costa del Sol leading the way for Property Recovery

  1. DQ

    But when the banks start charging for making a deposit, you’ll see many folks looking to other markets. I wouldn’t put one dime in a bank in Spain. Not for a long time to come either. Not stable, so they steal from clients. I’d have to speak with a real estate attorney and notaire to be sure it’s even safe to buy property there. I will agree that there are some gorgeous luxury homes for sale, and they are very tempting! But the government makes one think twice about it…

    1. If the concerns you raise would prevent you from considering buying property in Spain currently, then there are other options. Our advice would be to either use cash or else if you did need financial assistance then apply for it from your country of residence, as this too is an option. It is also worth noting that we always recommend the use of a specialized lawyer and notary prior to making any property transactions in Spain or throughout Europe. If you require any advice about any concerns you have raised, please feel free to contact us at Marbella For Sale

      1. DQ

        I appreciate your advise, and if I did purchase property it would be a full cash transaction.

        What would be of extremely great interest to me,and others I assume, is to know how foreigners can purchase real estate as individuals and as a corporation. What is the process? What are the tax issues? What events are triggered if you purchase real estate that is held by a corporation — as in you purchase the corporation and thereby own the assets of the corporation? What are the fees associated with purchasing and owning property in Spain. And property and real estate to me are in the form of a home or estate.

        Thank you in advance for your time and effort. I appreciate your information 🙂

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