The rising property market in the greater region of Marbella is presenting opportunities for those in the know. Recently, Emerging Trends in Real Estate (Real Estate Returns, 2014) described the positive attention property in the coastal areas of Spain has received. English quality newspaper The Telegraph also dedicated an up-beat article to Spanish property. And in its World’s top 20 places for the good life Andalusia, in which Marbella is situated, ranks number one.
Although the scars from the past few years cannot be ignored, buying opportunities on the Marbella property market should not be missed because of these grudges. Spain’s government has put various regulations into place to heal the wounds dodgy deals and corrupted town planners have inflicted on foreign home owners. But more importantly, these regulations also prevent similar practices from happening again in future. One expert said that “unlike during the boom times when there was a buying frenzy, there are now fewer cowboys operating in Spain. The malpractice and corruption that was rife just doesn’t exist now.” With just quality real estate agents such as Realista left, people have more trust in Marbella’s property market. Couple that with the fact that banks and real estate agencies are desperate to get rid of their over-valued properties, buying a home in Marbella is looking quite attractive indeed.
Last year property prices have reportedly dropped as much as 50 per cent in some areas. Marbella property prices are much less affected, with a lot of property in prime locations upholding its value. But that doesn’t mean there aren’t any good deals available. Courtesy of the crisis, property prices in Marbella have still dropped compared to the years before 2007. Recently, they have stabilised and are proving a safer bet than many other regions. Property here has always been high in demand because of the jet set environment, and the Marbella property market is already on the rise again. In order to benefit from lower property prices in Marbella, people who consider buying in this region are recommended to do so in the next two years.
Key to buying a good property in Marbella remains making informed decisions. Realista knows this and helps customers get the right information on an honest and straightforward basis. We know the importance of clear and transparent communication and can assist from your initial search for a property right down to after-sale necessities. Do you need good advice on property in the greater region of Marbella? Don’t hesitate to get in touch with us.
Source: Spanish property: is the time finally right to buy? The Telegraph, 2013.