After a winter of good weather, the spring is starting with even better weather. The Costa del Sol and the Costas in general once again is proving to have one of the best climates in Europe. With an average flight time of 2 ½ to 3 hours from most European cities, it is not a surprise that interest in Marbella property is increasing again. We have been noticing over the last months a definite increase in our internet enquiries and more calls from our other sources of clients such as advertising, for sale signs and client referrals.
Sur in English reports that for the first time in many years, their conclusion from a recent international property show was that in general the attendants only had favourable comments about Spain. Exhibitors of Costa del Sol property were in agreement that the market is “bouncing back Spain’s way” and that buyers “have decided that prices are not going to drop any further”.
Sur in English states in their article that stands representing the interests of Middle Eastern and African countries were practically deserted. There was a protest outside Earl’s Court on Saturday drawing attention to dubious land ownership practises in Cyprus and a seminar offering information about Cyprus had to be cancelled due to lack of interest.
On the other hand, the exhibition organisers has failed to anticipate the enormous interest in Spain and it was standing room only at the seminars given by the experts on Spanish law, moving to Spain and everything else that buying property in Spain entails.
Add to this the increase in interest from all Scandinavian countries plus buyers from Holland, Belgium, France and Germany the conclusion clearly is that something is happening in the Marbella Real Estate market.
Buyers realise that prices have not been so low for years and despite press reports on huge amount of property owned by banks, this refers mainly to property in the rest of Spain and not to Marbella.
Our advice is to buy now. Now you have the opportunity of choosing the best position, the views, the orientation, all combined with the best price. Many wise buyers have already put these points high on their priority list and then purchased at the best possible price. Unfortunately, some buyers have made a low price their first priority and in the long run have lost out as their offer was too low and then their ideal property was eventually sold to someone else.
In real estate these other factors are just as important as price and these shrewd buyers shall look at higher returns in years to come. Some buyers make the mistake of purchasing a mediocre property at a bargain price rather than purchasing a good property at a reasonable reduction. Although you might obtain a higher reduction on the mediocre property, this shall continue to be mediocre over the years and the good property shall appreciate more and shall have more possibilities to sell in the future.
Buyers can now choose and the good properties are selling so our advice is to buy now as the best ones shall go first.