If any further encouragement was required by prospective movers to the Costa del Sol to step up their search for luxury townhouses for sale in Marbella, it surely came in a series of figures to have been released over the past month, indicating that the city and municipality are playing a key role in restoring the Spanish property market to health.
According to the Spanish National Statistic Institute, there are now 12% more Marbella properties being sold than was the case at the market’s 2007 peak. Indeed, the rise in sales of properties in Marbella over the last 12 months has been steeper than in any other Spanish city. The evidence points to the late 2000s and early 2010s financial slowdown now being firmly behind Spain, as employment figures improve, tax revenue grows and the country’s banking system regains stability.
Another report has also pointed to a fall in the typical mortgage lending rate over the course of 2014, from 4.21% to 3.29%, which has only further improved buyer confidence. As a matter of fact, while the national average month-on-month surge in mortgage lending was impressive enough at 14.2%, Marbella’s region of Andalucía far outperformed this, at 25%.
There has long been strong demand from overseas buyers for the wide range of townhouses for sale in Marbella, and if anything, the client base appears to be diversifying, strong representation being seen of buyers from Scandinavia, France, Arabia, Benelux and Morocco.
When Marbella is considered together with the nearby Estepona and Benahavis municipalities, property sales were up by 27.7% in 2014 compared to the previous year. But Marbella in isolation has even more impressive figures to its name, Spain’s Ministry of Public Works confirming that property sales in the area had jumped by 89% between 2008 and 2014.
Estepona and Benahavis saw major increases in property sales themselves over the same period, however, of 22.8% and 62.3% respectively. These figures, together with the evidence of falling average time periods for which properties stay on the market and even waiting lists for certain types of properties, should instil urgency in those who have long dreamed of purchasing one of the many available townhouses for sale in Marbella.
As an estate agency of the utmost quality and integrity, One Marbella is only too happy to help to get that process underway for any of a wide range of potential buyers.