Here at the Spanish Property Network we like Marbella, we have lots of properties there so why wouldn’t we? To search for Marbella properties just fill in the form at the side and see what there is.
But why has it been a good day for Marbella property and the town in general? Firstly Zoe Dare Hall, an excellent commentator on the Spanish Property Market, talks about the ultra high end of the Spanish Property market where sales are being driven by the demand, especially from China, for the Spanish Golden Visa for residency on property purchases over 500,000 Euros. It seems that many nations have taken the possibility of the Golden Visa as a signal to start investing in Spain. You can see more about the Spanish Golden Visa and our Spanish residency project here. We are seeing excellent results for this opportunity among American buyers, especially in Barcelona.
Secondly Sur reports that Marbella is the place where sales grew the most in the whole of Spain last year as a percentage. The figures show a 23% increase last year and sales volumes are now approaching pre crisis levels. This compares very favourably of course with the 17.4% drop overall in Spain in the number of property transactions. However this increase is not just visible in Marbella. Estepona with a 9% rise, Mijas with a 4% rise and even Benalmadena with a very small rise had more property sales last year bucking the trend of Malaga province (Where eastern Malaga fared badly) and Spain as a whole. Strangely enough the beautiful city of Malaga also had a reduced number of sales, this time for a third year in a row.
The Spanish Property Market as a Whole
What these figures mask though is the huge increase in almost all provinces of the number of foreign buyers. As mortgages and any form of credit remains scarce in Spain apart from for the banks’ own properties internal, national demand continues to fall. This is offset by the increase in the number of buyers from other countries.
From the table we can see that sales of Spanish Property to foreign buyers have increased markedly in the last five years and they are now back to pre crisis levels in many areas. The biggest market for foreign buyers is the Valencian Community. No surprise there as that encompasses Alicante too. Sales have increased in the last five years by just over 100% in total with a total of 17908 transactions last year comparing favourably with 2007 figures. One of our other major areas, Andalucia which includes Malaga of course has also recovered massively in the last four years with transactions up 62% over the period and they are only slightly below the numbers registered in 2007. The figures for Catalunya are even better as sales volumes are up around 150% over the last five years on 2008 (which was a huge slump year).
Expect these trends to continue in the next year as the economic recovery in Northern Europe combined with the Golden Visa programme and continued low prices in Spain allied to a weak Euro makes Spanish property attractive for buyers.
So the big question is when will you be joining the large numbers of foreign buyers moving into the bargain Spanish Property market? Take a look at what we can offer you whether you are a non EU resident looking for a portfolio opportunity, a retiree looking to relax and enjoy our enviable lifestyle and climate or just somebody able and wanting to work from anywhere with broadband. For everyone there are opportunities in Spain right now.