Many people looking for property for sale in Marbella are primarily concerned with finding a second home or retirement property in a warm, friendly holiday environment. However, newly released data has indicated that the Spanish property market is definitely on the up, so buying now could make financial sense as well.
The General Council of Notaries has reported that a greater number of people are buying homes in Spain, indicating its increasing popularity among both expats and those hoping to rent out their properties to future holiday makers. The market for both is seemingly thriving, with the number of housing transactions during May increasing by 8.4% compared to the same month in 2014 – making a total 33,504 transactions during that one month.
In terms of property type, apartments have shown the most impressive increase, with a year-on-year rise of 8.1%. However, this is down to second hand apartments rather than new-builds, something which might be worth taking into account for anybody currently looking for property for sale in Marbella.
At the same time, separate research has indicated that the price of Spanish housing is climbing – with an increase of 1.6% during the first quarter of 2015 compared to the same period last year. This comes from recent data provided by Eurostat, the European Commission statistical office. It notes that this is close to double the increase that has been seen in the rest of the Eurozone during the same timeframe, where prices generally climbed by only 0.9%.
If you’re considering whether it would be more financially sensible to buy property somewhere other than Spain, this data might just convince you otherwise. Rising prices indicate a recovering market, so buying today could easily yield substantial returns in the long run. Even those who don’t need to sell for years to come could benefit from such a rise in property value.
This combination of increased buying and rising prices means that it’s a perfect time to take the plunge and commit to property for sale in Marbella. In the current financial climate, that property should be thought of as an investment in the future, not just a beautiful place in the sun.