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.