Another Year of Good News… and Excellent Prospects

Winter is now well behind us, daylight saving (or summer) time begins this Easter long weekend, and the verdict is conclusive. The real estate market turned a significant corner in 2015 and the prospects for this year, as southern Spain begins, arguably, its most alluring season, are positive for both buyers and sellers. The spring is well and truly back in the step of the property industry, and the news is reassuring on many fronts. Here are some reasons why… A “Trends 2016” report by real estate consultants CBRE, based on interviews with 100 top property executives, has concluded that the Spanish real estate crash is over and the market is set to “take off” this year, at least in popular areas such as the Costa del Sol. “There is a positive scenario of economic growth which is not going to change overnight,” said CBRE España president Adolfo Ramírez-Escudero. In a separate report, “Real Estate Sector Outlook 2016”. CBRE predicted that average house prices in Spain would rise by 5.95 per cent this year. Addressing a conference organised by developers association Asprima and CaixaBank, Juan Carlos Álvarez, real estate business director of Servihabitat (owned by Caixa), forecast an increase in house prices this year of between six and 6.3 per cent year on average, with “very appreciable increases” in some areas with a current shortage of new homes.

Latest figures from Eurostat, the EU data office (end of 2015), reported house prices in Spain rising by 4.5 per cent, compared with 3.1 per cent in the EU and 2.3 per cent in the Eurozone. According to figures released by the Spanish Property Register, foreign demand increased by 11 per cent in 2015, with a total of 46,000 homes bought by non-Spaniards. The Brits led the way with a massive 81 per cent rise in demand compared with 2014, and just under 10,000 acquisitions. Bankinter forecasts that property’s increasing attractiveness compared to other assets will help boost the real estate market this year, with house prices rising by three per cent on average and five percent in prime locations (such as Marbella and other popular Costa del Sol areas). The latest “pulsímetro” from the Instituto de Práctica Empresarial (IPE) predicts that more than 5,000 new residential projects will receive formal planning approved in Málaga province this year, partly as a reflection of the healthy state of Spanish and foreign tourism and also because new investors are being attracted by the solid profitability of the rental market.

Meanwhile, Villa Marbella Now’s roving correspondent has just got back from a trip to Australia, where he was intrigued by the exotic charms of a holiday resort in the “heights” of the Blue Mountains (New South Wales). The lifestyle featured at this Wollemi “Secret Treehouse” cabin might be difficult to find back on the Coast but those who would like a taste of the “high life” can enjoy a similar experience at Aventura Amazonia Marbella. This immense adventure park is just one of many breathtaking leisure attractions on the Coast that are ideal for families looking for something different during the Easter or other holidays. It is located in the heart of Elviria, a hugely popular residential area at the eastern end of Marbella municipality where, for those looking for a permanent stay in Spain (on the ground!), our featured home this week is just 100 metres from the sea and priced at an excellent €1,950,000. 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 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

Another Year of Good News… and Excellent Prospects

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