And Now For The Good News…
It’s now May, spring is well upon us, and the Costa del Sol real estate market is in full bloom. So the ideal time to review latest news from industry experts and insiders…
First, however, a reminder that next Sunday (6 May) is Día de la Madre (Mother’s Day) in Spain. Even if you celebrate this cherished anniversary on another date in your own home country, if you are living Spain or visiting here, we are sure your mums will appreciate a double celebration!
But back to business…
- Spain's overall economic situation continues its upward trend, a situation that has had a positive flow-on effect in other specialist sectors such as the real estate market. It is also, of course, very much about perception as much as facts and statistics in the so-called "post-truth" world, so the biennial "German Companies in Spain" survey published by the German Chamber of Commerce in Spain in conjunction with the IESE Business School offered some reassuring conclusions. More than 93 per cent of German companies believe the economic situation in Spain is "good" or "satisfactory", 25 points higher than two years ago, according to Reuters.
- Meanwhile, BBVA Research estimates that the Spanish economy will grow 2.9 per cent in 2018 and 2.5 per cent in 2019, above the rates forecast three months previously. "The favourable external environment and the lower long-term financing cost offset the impact of economic policy uncertainty. This scenario is consistent with the creation of one million jobs and the reduction of the unemployment rate below 14 per cent."
- According to the latest Spanish property market report from Survey Spain covering the first quarter of 2018, as the Brexit countdown enters a crucial final 12-month period (to 19 March 2019), agents are reporting a slow-down by some U.K. buyers, but also an increase in those wanting to make the move before the transition period starts. "Any slacking of demand by U.K. buyers has been ably taken up by other northern European nationalities… The Spanish demand continues to recover, with many buying investment properties and the traditional town nucleus continuing to expand and new suburban areas created. As the local economies expand, so new buyers and especially tenants arrive to fill the employment opportunities created… The investment and occupier buyer demand appear to be increasing and, with the Spanish economy becoming more buoyant, there is increasing confidence there. Accordingly, we foresee increases in values, but there should always be a hesitancy as professionals and especially financiers remember the background and suffering from the crash and the excesses that led to it."
- However… Experts speaking at a real estate seminar in Málaga organised by the Builders and Developers Association, discounted fears that the property market was at risk of a renewed overheating. The association's secretary-general, Violeta Aragón, said, "We don't see a bubble anywhere. We're still light years from the figures of 10 years ago. We have 3,800 homes officially registered, a long way off the 40,000 in 2008, or the 12,000 that the Banco de España believes is an appropriate figure for a province such as Málaga. The same with the price per square metre: it rose by five per cent in 2017, to €1,479 per square metro, when in 2008 it was €2,415.”
- The number of properties officially registered with the Architects Association in Málaga grew by 15.5 per cent in the first quarter of the year, compared with the same period for 2017. The total of 1,614 properties, valued at €206 million, was "the best figure for this period in the last four years".
Luxury Living
For our featured home this week we head to one of the Costa del Sol’s most conic residential-tourism areas, Nueva Andalucía (Marbella), where this stunning American-style villa combines modern architecture with an Andalucia essence - and is excellently priced at €2,495,000.
Exceptional Homes
We appreciate your taking the time to read about this outstanding property, but perhaps it is not exactly right for you? If not, we invite you to have a look at our other stunning selections for:
Luxury Villas,
Apartments,
Golf Properties,
Seafront Properties,
La Zagaleta and
Special Offers. Simply 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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