With new builds on the increase and the bargain deals slowing down and coming to an end the property market is seeing prices being pushed upwards. This is good news for Spain as confidence is slowly returning to the market place from foreign investors.
If you were to look back to 2012 the majority of foreign buyers were looking for distressed sales or properties that had been hugely discounted, but things have changed with many of them being more discerning wanting more from the properties such as contemporary styling and location as a key.
With the introduction of the Golden Visa helping buyers from outside the European Union that wish to invest 500,000 and upwards has had a big impact the rising numbers of Russian, Arab and Asian investors.
The percentage of property purchased by foreigners has risen from 11.22% in 2013 to 12.98% in 2014 with the UK being at the top of the ranking. There has been a huge increase of over 27% in property sales in and around Marbella from 2013 -2014 and the trend is still looking upwards.
Also an influx of new residents has also helped with many new businesses coming to the area, and the international schools are full. The local government are investing in the infrastructure and general appearance of the areas including the new boulevard park in San Pedro and the revitalisation of Estepona and the extension of the promenade in Marbella to name but a few.
Now all indications pointing towards growth in the property market and with the local economy Marbella can now lay down the foundations for its prosperity for the coming years ahead.