Market activity showed 16% increase in area of Malaga, with Marbella leading the way in sales numbers since 2007. Big builders in the area started selling their off-plan projects. They sold out the properties way in advance of the completion date, which showed the massive recovery signs of the market in the prime areas like Marbella.
The Bigger the Better Perhaps you have heard 'The bigger the better' before, now more than ever that appeals to the growth of the sales, prices of property, land ,opportunity, ever since 2004 which was the highest point market reached in the 21st century.
The number of properties sold in 2015 in Marbella was 3997, which compared to 2004, its peak was 4779. Their are similar reports for Estepona. Sales figures have risen by 89% in the municipality of Malaga since 2008 and future looks even more promising for 2016.
The figures speak for themselves and the market recovery signs are everywhere, it promises to be bigger and better than ever. According to the data released by Spain’s Property Registrars, property prices increased by 5.12 per cent in June 2015 due to increased interest of foreign buyers in the country’s high-end property market.
The return of large US investment funds has been notable but not just in Spain’s main cities. The acquisition of Sotogrande S.A. by US-based Cerberus and developments to the east and west of Marbella by other US funds, as well as the purchase of Monte Mayor golf club by Russian investors hint at the extent to which the recovery is gaining traction. General public always ask when is a good time to invest or buy their dream house they have in mind, well the answer to this question is the sooner the better since prices are getting more and more expensive. Which means if you buy now you avoid paying more for the same in a months time or even more in 2 months time or in the near future.
Since 2013 market is showing strength year by year quarter by quarter. Hand in hand with price stability, in 2015 banks undoubtedly turned on the mortgage taps again especially for solvent clients. Spanish banks have started lending again now that other lending alternatives are no longer an option. In addition, their balance books are healthier than ever. The typical mortgage interest rate dropped from 4.21% to 3.29% over the course of 2015 and this has fed through to buyer confidence and expected to drop even more in 2016.
Best selling Properties in the area of Marbella
Luxury brand new apartment 3 bedrooms, 2 bathrooms Center of Marbella, 2nd line of the beach and paeo, with garage space € 507,000.
Brand New apartment, 2 bedrooms, 2 bathrooms, Old town of Marbella, € 215,000
2 bedrooms, 2 bathrooms Apartment, charming Andalucian Village style, with car aprk € 156,000
2 bed Luxury apartment, indoor communal heated pool, secutity, garage. € 200,000
2 bed Modern apartment in Nueva Andalucia, short walk to Puerto Banus and amenities. € 265,000.
Luxury 2 bed apartment in center of Puerto Banus, 2nd line from the beach short walk to all shops and restaurants, concierge service, garage, South facing terrace € 525,000.
2 bed modern apartment in center of Marbella, first line, with sea views. € 430,000
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