The Property Market In and Around Marbella
It is well documented now that the crisis in the local property market is well and truly over. The Marbella property market is now well into its fifth straight year of recovery, after the bubble burst at the end 2007 and 2008. The number of residential sales in 2015 increased by 9.83 % over the sales volume of 2014 and has almost achieved the volume of the pre-crisis year of 2006, and prices are starting to climb once again in Marbella’s most in-demand residential areas.
As is evident from the accompanying chart, the number of sales in Marbella reached 4,390 properties sold in 2015, less than one percent short of the number of sales in the pre-crisis boom year of 2006 when 4,432 properties were sold.
Is The Time Still Right To Buy?
Although there has been an increase in sales volumes, prices are still 15-25% below market peaks, which means that if you are a buyer then there are still some reasonable priced offers within the market place. Now is certainly the time to buy, before the market fully corrects itself.
Why Are Sales Volumes Increasing In This Region Compared To The Rest Of Spain?
Marbella is a unique place which is hard to find anywhere else in the World. As over 85% of buyers come from outside Spain it is not strictly dependent on the national economy. Add to this the fact that Marbella is such a popular holiday destination, which receives literally hundreds of press articles all across the World touting good news about the area and it is easy to understand why there is such a demand for properties in the Marbella region. In addition to this Marbella is regarded as a safe, quality haven within the protection of the European Union when compared to many other destinations today.
Want To Know More About The Property Market In and around Marbella?
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