Marbella property market showed great strength again with rising sales figures in 2017. We have been collecting the figures from Fomento and looking at the house sales per year now compared to the last property boom and the crash starting 2007.
As you can see Marbella property market is already on the way to full recovery with average selling 1000 properties per quarter (with figures from the last quarter not yet out). The figures show Marbella selling roughly 4000 per year the same as in the good times of 2006 and 2000 more than worst sales figures during 2008 while in the property crash.
These figures show that Marbella has recovered from the crisis and is well on its way to another property boom.
For the ones who know Marbella, in the area there not much land available to build and that is driving the prices of lands up, leading to higher prices of end product if it’s a villa or apartment.
In general since 2013 market in Marbella showed recovery signs with every year small increase of avg 8%. This also filled the buyers with all the confidence they needed to pull the plunge and buy their holiday home in the sun. There is also some interesting new projects of buildings in Marbella that are being sold at very competitive prices with all latest EU standards and some are already fully sold off plan. The pricing in some cases was so compelling that buyers and investors both felt that the deals were simply too good to walk away from. Due to huge success of these kind of off-plan projects we have put together the best selection of apartments and houses for our clients, these were chosen by our experienced team of agents for their top location and qualities.
What does this mean for buyers?
Well it means for buyers it is a good time to buy again as the chances of getting good deals are getting slimmer as promoters and private sellers are starting to notice the price increase. At South Spain Properties ourselves, we had a great 2017 with many properties selling at prices near asking price. We also recorded many owners asking for price increase for their unsold properties or rejecting the offers which were not full asking price. Having said that many properties are still here priced at 30% below asking price in 2007 and that shows great value for investment. It really could be the last chance for some with limited budget to benefit from the Marbella lifestyle, 320 days a year sun with the amazing micro climate, full of life in winter, blue flag beaches meaning you can enjoy sunbathing on clean sandy beaches with adequate amenities. One thing for sure is to our experience of Many years working in Marbella, it was always prior to 2007 reserved for those who were privileged with nice sums in their accounts and for the moment property prices stay competitive, even compared to the areas not so exclusive like Mijas. What we cant be certain about is for how much longer we will have this kind of competitive pricing available, before all becomes unreachable for many.
Here at South Spain Properties we are a fully independent Real Estate Agents, with collaboration links with all the companies offering good quality, fully legal and secure deals as well as one of the most exclusive resales deals available on the market and love to help you find your dream home.
SOUTH SPAIN PROPERTIES PROMISE! STEP-BY-STEP support from our dedicated team of Property Consultants, Lawyers, Builders & Interior Designers!