Providing Greater Property Transparency
The statistics we quote here on a regular basis, to pinpoint illuminating trends in the real estate market, are drawn from a diverse array of sources – industry organisations, official government bodies, and leading businesses and companies in the private sector.
Sometimes, as we delve deep into the nuances and variables of these figures – and they start to become confusing or even slightly misleading – our eyes glaze over, our brain starts to ache and we realise the coffee pot is empty, it’s well after midnight and we have an early start the next day. Our paperwork and digital files are then wearily despatched to the too-hard basket for further contemplation with a clearer head (and more coffee) in the morning.
Now, thankfully, our efforts to shed light on the statistical ins and outs of the Costa del Sol property market – for the benefit of both buyers and vendors – will be receiving additional help from an eminently authoritative new source. It has just been announced that the recently-launched Second Home & Resort Industry Observatory (SHARIO) has joined forces with the Spanish Land and Business Registrars Association in an initiative aimed at improving the transparency of this key market.
SHARIO was set up earlier this year by Professor José Luis Suárez and Spanish property journalist Mark Stücklin. A perceptive commentator on the industry through his Spanish Property Insight newsletter, Stücklin wrote this past summer, “Spain has a variety of house price indices that are widely reported in the Spanish press, and often tell different stories. I put them all on the same page, so at least we can see where the confusion is coming from. These widely reported figures, which also find their way into the international press, are based on different types of data, analysed with different methodologies. So it’s not surprising they differ. Three are based on transactions, two on valuations, and two on asking prices.
“And bear in mind,” he added, “that though national average house prices are worth keeping an eye on for the big picture they are almost meaningless when it comes to local markets, which can be going in different directions. Buyers and vendors need to look for local market data when making buy/sell decisions. The picture I get from popular local markets that attract foreign buyers is that prices are stable or rising when it comes to attractive property.”
Referring this month to the launch of the SHARIO/registrars agreement, Stücklin concluded, “An industry so big and important to Spain needs better market information to avoid repeating the mistakes of the past, like overestimating demand and building too much. Good market analysis helps reduce risks, improve investment decisions, and increase the confidence of buyers and investors in Spain.”
Speaking for the Registrars Association, director of institutional relations Beatriz Corredor said, “The information that the Registrars Association will provide, as a partner of the Observatory, will help to improve both an understanding of the Spanish housing market, and the legal securities that surround the purchase of a home in our country.”
We heartily agree, and we will continue to keep you informed of all relevant information released and analysed by these two organisations, as well as that originating from our other usual sources.
Luxury Living
In the meantime, our featured home of the week is this ultra-attractive penthouse triplex on Estepona’s “New Golden Mile” (priced at a superb €875,000).
And for a cool view of latest motoring trends we admire Rolls-Royce’s first ever pure “Vision Vehicle”, which made its debut this week at the Barker Hangar in Santa Monica (California) and is described as “the future of luxury mobility”.
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 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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