Back to Business… and More Good News
It’s now September and – for those who might be suffering from a bout of post-holiday stress or pre-autumn trepidation – an excellent time to keep the good news flowing.
- According to the property registrars association, the price of homes in Spain increased by 7.5 per cent in the second quarter of 2016 compared with the same period last year. The average was 2.2 per cent higher than for the previous three-month period (January to March), confirming an “ascending trend that began in 2014 when prices hit rock bottom”.
The April-June figure was still 26 per cent lower than the highest total during the “feverish” years pre-2008, according to the association’s latest report, but level with those of 2004, when the boom cycle began. The data for sales volume also continued to make positive advances, rising 23.7 per cent on an annual basis in the second quarter – and reaching the highest total since the first quarter of 2011.
- Even those in the industry with a tendency to become over-excited would seriously baulk at the prospect of a new property bubble in Spain. But perhaps a “mini-bubble”? Real estate expert Eduardo Molet has been quoted in the Spanish press as saying there could be a “mini real estate bubble” in some areas of Spain (Madrid, Barcelona and popular coastal areas such as the Costa del Sol) in the next few months, as prices rise due to a combination of cheap mortgages, low prices and increasing demand. He does stress, however, that this situation will in no way reach the same levels of the boom years.
- If you are thinking about buying a property for rental income, the rewards can be considerable – but the key is choosing the right area or street! According to a study by the Idealista portal, three of the four Spanish areas with the most expensive average rentals are in Marbella: Calle Alcalá, Las Brisas urbanisation in Nueva Andalucía – €38,500 (first), Sierra Blanca – €16,300 (third), and Guadalmina Baja – €16,267 (fourth). Second was Avenida Tibidabo in Barcelona – €18,363.
- The PropertyandSpain.co.uk website says that buyers in Spain will continue to benefit from cheap euro mortgages for the foreseeable future, irrespective of the consequences of the Brexit vote. “For most of summer 2013 the value of the pound didn’t rise above €1.18,” notes website director Julian Walker. “By comparison, today’s rate is no worse for British buyers. There are suggestions that the pound could strengthen in coming months, but of course no one knows for sure. For now, don’t be surprised to see vendors, in particular Britons, be more open to offers.
“The likelihood of fewer British buyers in the market will mean they will want to hang on to those that do show an interest in their property, and if they are repatriating the proceeds of their sale to the UK the weaker pound means they may be more open to accepting a lower offer in euros.”
- In a special promotional initiative by the Costa del Sol Tourist Board, the Coast has been declared the “golf destination for Germany” during 2016. According to the board, “There are good flight connections together with a considerable number of golf courses and hotels, but it is the combination of golf and an authentic destination offering cultural and culinary attractions, above all, that makes the Costa del Golf a perfect and unique place to visit.” And later to buy a more permanent holiday home – of course!
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Vida Yoga in Banús[/caption]
Luxury Living
The Antonio Banderas Plaza in Puerto Banús will be transformed into a huge open-air yoga centre from 5 to 11 September (with the event – including classes, discussion groups, live music, ecological cuisine and exhibitions – scheduled to be inaugurated at 7.30pm on Monday), so we head to this popular area for our featured home of the week: a beachfront apartment with excellent rental options and priced at €1,050,000.
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
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