The Costa del Sol Property Boom - Sales On The Increase
28 Oct 2010
So finally some data to back up what we have been saying for some time that we have hit the bottom of the market and the biggest obstacle to property sales in Costa del Sol is customer’s perception mainly driven by the misplaced bad press that comes from various economic data
Recent research reveals that 2,359 homes were sold in August - the highest monthly tally since May 2008 - up 25.6 per cent on the previous month and almost 30 per cent higher compared to corresponding month in 2009. If that doesn’t show that prices have bottomed out and buyers are moving into take advantage I am not sure what does.
A growing number of Spanish property market professionals now believe that the market has bottomed out; following a turbulent three years in which prices nationwide have plummeted and at Spanish Hot Properties we would go further expect prices reasons on certain types of property in 2011.
So why is there such a huge misconception about the true value of property in Costa del Sol? The answer lies in the various reports in the UK national press and business publication saying that the Spanish property market is 47% over valued. However the reality here is they are talking about the local housing marker and they are missing the biggest individual factor name the “Sun” which Southern Spain can offer would be second home owners and more importantly with globalization a new place to live.
So moving forward it’s clear that on the ground there actually is very little choice for people looking at top quality in top locations and sacrifices are having to be made. At the bottom end of the market there are still very good deals to be had as long as the buyer is realistic about what they can buy for their money.
If you want to buy in the Costa del Sol Property market then sooner rather than later would be a good starting point.
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