Altavista Spain News | Real Estate In And Around Marbella – How The Market Is Looking

November 4, 2011 in AltaVista Property Marbella, Altavista Property Spain, Michael Liggan, by Michael Liggan

It’s safe to say that the recession has hit Spain pretty hard. Millions of Spanish people are trapped in debt, stuck with overpriced homes and suffer from high unemployment rates. The unemployment rate of over 20% in Spain means that many people don’t have the money to purchase homes meaning the average price of housing is going to crash. This post will outline what the market is looking like in Marbella and whether you should be keeping your eyes out for bargains.

Firstly there are currently over 1 million homes that are either unsold or unfinished in Spain. This is an extremely large backlog on a country which is pretty powerful and is developed. Having a backlog like this is detrimental to the country, it also means that estate agents are slashing prices left right and centre so they can make a sale. Some house prices have been slashed up to 50% from their original sale value in 2006.

However, even though house prices are at one of their lowest levels in a while, people are still struggling to buy. The economy means that less people have jobs and they also have less money to pay for the necessities. Of course, this means a large spiral of lower house prices and people looking to buy smaller apartments.

Real estate in and around Marbella has been affected with the overall prices down 30% compared to the high point of 2006. This trend means that investors in property will benefit hugely. An investment in an £100,000 property could turn into £130,000 in a few years time. However some people have also stated that the prices could continue to tumble and lead to an even bigger chance of making money.

The properties that are selling the best in around Marbella are one or two bedroom apartments as they are cheaper and still have the discounts associated with them. Larger houses that are expensive are having a hard time selling even in spite of all of the discounts.

If you’re unsure then you can always look at what other property investors are doing. This summer property transactions in Spain doubled as many British buyers looked for a bargain. Many believe the right time is now and that you shouldn’t wait to secure a cheap property in Marbella. If you wait too long you could see the house prices slowly increase and see that you’ve lost a great investment opportunity.

However you should never get sucked into making a purchasing decision so fast. You should always weigh up your options and decide what’s best for you. Even though the real estate market in and around Marbella and other areas around Costa Del Sol are showing very low prices, you should always do your research and get the best advice possible.

Alta Vista Spain makes this possible by giving you the widest selection of property available in and around Marbella. Alta Vista Spain will be your guide and help you choose the best location for the best price.

AltaVista Property puts the emphasis on clients’ requirements. We focus our efforts on matching client requirements and sourcing suitable properties, but given our longstanding experience in real estate and knowledge of this market in particular, we are also able to identify those properties that offer great value.