All the signs point to the Spanish property market continuing to recover in 2018. The recorded property sales in the land registry in Spain soared in October 2017 by 28%, the biggest increase since the housing market recover began.
By the end of summer in 2017, the figures from the National Institute of Statistics reported strong sales transactions completed in August and September of 2017. These numbers are astonishing and prove what we though all along – despite Brexit fears, Spanish property still maintains major appeal for British buyers.
Buying property in Marbella
Because the Spanish economy is among the best performers in the European Union, the banks are following suite with strong overall recovery. Even mortgages are up, meaning the approval rating has soared just as much as property purchases in Marbella alone. Once again domestic consumption and investments in Marbella or the Costa del Sol as a whole is staying steadily strong, with no major declines foreseen in the near future.
Andalucia is in the midst of a tourism boom, and for the past 5 years has broken consecutive records for the number of tourists landing on our shores. Therefore, the demand for Marbella property at beachside locations is at an all time high. Moreover, many are looking to new ventures that include new developments in Estepona, another seaside town that is becoming increasingly popular amongst property buyers on the Costa del Sol.
At Marbella Homes we’ve seen a keen demand not only from the British, but also from Scandinavian, Belgium and French buyers. The same can be said for property prices, we’ve seen major growth, which is encouraging to both homeowners and investors, with no signs of a “bubble”. All we see is sustainable increases indicating that there is still a long way to go with this upward cycle.
MORE – SEE A LISTING OF OUR NEW DEVELOPMENTS, CLOSE TO THE BEACH
The Marbella Property Sector & International Property Buyers
Foreign investors have been buying Costa del Sol property for the best part of 50 years. UK property buyers are back and more interested in Spanish property than ever before. There was a time when many British expats were leaving the Spanish sun behind and heading back to the UK for more stability due to an unstable economy and fears of job security.
However, thanks in a huge part to the influx of foreign property buyers together with record breaking tourism and the re-emergence of a thriving property market, the Andalucian economy has been refuelled.
New construction is taking place, along with new developments being built in desirable locations. This includes new luxury villas in Nueva Andalucia, and new beachfront developments in Estepona.
The Costa del Sol truly offers a huge and varied selection of residential property to buy, be it a large individual villa, a spacious townhouse or a luxury apartment located in a secure and gated urbanisation close to the beach or, overlooking a golf course, or for those that like to be close to nature or enjoy equestrian lifestyle, a rustic farmhouse in “the campo”.
MORE – WE’VE GOT A HUGE SELECTION OF PROPERTIES IN ALL DIFFERENT STYLES AND PRICES
Best reasons to buy property in Marbella
- Return on investments – many property investors are seeking to take full advantage of the record breaking tourism by way of holiday letting. Investing in a property specifically for holiday rentals is a guaranteed return on investment, in terms of both rental income and longer-term capital growth.
- Those who have reached retirement or fast approaching are also buying up property on the Costa del Sol, to live the “dream”. These buyers enjoy purchasing their dream retirement homes close to the sea or overlooking one of the many golf courses and are within walking distance to all amenities.
- As the Spanish economy continues to grow so to do the jobs prospects. The Costa del Sol is appealing because of its resort style living, combined with its resort style employment. For example, the hospitality industry alone on the Costa del Sol is always desperately seeking good, honest and hard-working individuals.
MORE – THE BUYING PROCCESS IN SPAIN
Before Investing in property in Marbella, keep these tips in mind
- Use a trusted estate agent in Marbella
Investing in property as you well know is a big decision and it is absolutely crucial that you use an estate agency with experience. A Marbella real estate agency with a proven track record will ensure your money is safe.
- Know as much as you can about the property you are interested in
We always recommend you make a short list during your search for Costa del Sol property. One important thing to remember is the pictures of the property can be deceiving or the location for that matter. A property may look incredible, and luxurious for really low cost, but behind the development construction might be taking place or there might be a major motor way etc. Planning a visit is essential for a better buying experience.
- Before investing in a property calculate the potential ROI
As stated on many occasions, buying a property in Marbella with rental potential can yield you large returns. However, to be safe it’s best to estimate the first year ROI. You will need to subtract the annual cost including the interest you would pay from your total estimated net income from the property (which includes potential rental income, estimated tax savings, projected property appreciation and any estimated additional equity from renovations).
At Marbella Homes we know buying a home is not a small decision and while it can be a sound financial investment, there is a lot to consider. Asking the right questions is the best way forward. Using the right real estate agent or agency on the Costa del Sol will result in a smooth buying process because the agent or Marbella real estate agency does all the heavy lifting so to speak. Marbella Homes has been in the business for over 20 years, and we are a family run agency.
You can talk to our agents for advice and of course to discuss your future property investment plans – best of all, you are under no obligation to commit to us.
Get in touch today.
T: +34 951 127 122
M: +34 609 463 944
E: info@marbellahomes.com