And Now For Some More Good News…
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El Madroñal[/caption]
It was Mark Twain who first popularised the saying. Writing in “Chapters From My Autobiography” (published in the “North American Review” in 1906), the American writer declared, “Figures often beguile me, particularly when I have the arranging of them myself; in which case the remark attributed to Disraeli would often apply with justice and force: 'There are three kinds of lies: lies, damned lies, and statistics.’”
In recent months, as Spain’s property market recovery has been confirmed as reassuringly reliable rather than just wishful thinking – at least in such key areas as the Costa del Sol – industry insiders have studiously analysed the statistics to determine how these new trends are likely to influence business.
It hasn’t been easy. Often, the data emanating from official institutions has tended to be conflicting at best, and downright confusing at worst. From property prices to sales figures, and monthly comparisons to annual percentages, the data has sometimes differed to varying degrees.
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Sotogrande[/caption]
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Estepona[/caption]
Generally – it has to be noted – these minor discrepancies are because the purveyors of this information are basing their extrapolations on different processes or timetables. In the end, however, the bottom line is that they all essentially reach the same conclusion.
The reasons for a universal sense of renewed optimism in the industry are based on neither lies nor damned lies: in whatever way the statistics are analysed, and for whichever period under review, they all point to the fact that the market crisis has bottomed out, and now is the ideal time to buy a property. In fact, as we have noted before, leaving it too late could mean missing out on the bargain of your life.
So here, briefly, is a review of some of the more encouraging, and demystified, property news reported by the experts in recent weeks…
Bank Optimism: Speaking at a conference organised by the Spanish Property Studies Foundation, Bank of Spain research director José Luis Malo de Molina declared that “adjustment in the Spanish property sector is, in theory, over”, and pointed to “signs of a slight recovery”.
Residential Demand: According to Carolina Roca, an executive committee member of the Spanish Association of Building Developers, “The (bank) stock of property is no longer a distorting factor as it was in previous years.” Interviewed during the SIMA international property show, she added that today’s buyers are more knowledgeable than before, and “residential demand is starting to awake from its slumber of the last few years”.
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Benalmádena[/caption]
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Marbella[/caption]
Foreign Buyers: The latest Spanish Property Registrars’ report noted that more than 11,000 home sales in the first three months of 2015 involved foreign buyers, 10 per cent higher than for the same period last year. Britons led the way with 18 per cent of the market, followed by the French (10 per cent) and Germans (eight per cent).
Rental Market: Noting that “we’re turning the property situation around”, Mario Garcés (under secretary of state at the national ministry of public development) told a property conference that the rental market would increase significantly in 2014 – great news for those buying properties on the Costa del Sol for investment purposes.
Statistics (I): The latest IMIE house price index published by Spanish appraisal company Tinsa showed that the Mediterranean coast was the only area where property prices increased in March (albeit relatively negligible at 0.2 per cent) – thus “confirming the process of stabilisation”.
Statistics (II): The National Institute of Statistics reports that Spanish house prices (in general) rose by 1.8 per cent in 2014.
Statistics (III): In the last quarter of 2014, Spanish house prices increased above the eurozone average, according to latest data from the European Union’s Eurostat office.
Statistics (IV): The Spanish Notaries Association reports that the number of homes sold in March (the month for which latest figures are known) increased by 12 per cent compared with the same month in 2014.
Special Selections
We feature five top properties here – along the coast from Benalmádena to Sotogrande and up into the mountains at El Madroñal – but perhaps they are not exactly right for you? If not, we invite you to have a look at our other special selections for:
La Zagaleta,
Luxury Villas,
Golf Properties,
Seafront Properties,
Apartments and
Special Offers. Click on the category of your choice and follow the link. Also please feel free to roam around our website:
www.villamarbellanow.com.
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