Spanish Real Estate – Sales Insights
The number of properties sold during 2017 in the Golden Triangle of Marbella, Benahavis and Estepona demonstrated that the housing market was positively on the increase. This information is provided by the Ministerio de Formento (Ministry of Public Works) who also provide analysis of foreign property buyers in all of Spain. The British remain at the biggest purchasers of property in the area, accounting for 15.01% of overall sales. This shows the despite Brexit this is not deterring people from buying in Spain.
The data has shown that the majority of buyers are either couples or families, ages ranging from late 30’s and up to mid 60’s. The reasons for buying a Spanish property are for the love of the lifestyle, final retirement home and some buyers are purely for investment purposes.
Due to the improvement of the market, buyers are not proposing drastic reductions in the asking price as previously. Those looking for deals will now face the challenge of properties selling faster and closer to the stated price than before.
The most frequently requested key requirements received by clients include:
- Walking distance to amenities
- Sea views
- Large terrace/outside area
- South/South West orientation
In conclusion, it is reassuring that there is a strong demand from a diverse market. The property prices on the Costa del Sol remain a pull for foreign buyers, with a vast selection of property in many areas. The troubles of 2008 are clearly an unpleasant memory and with this positive news and month on month sustained growth, depending on your circumstances, buy, sell or invest, this really is a good time to review the options available to you.