In the last few months, several promoters have seen increases in the level of Costa del Sol property sales, compared to 2009, although financing is still hard to come by.
If this is the case the next report by the Ministry of housing should reflect these positive trends as this was not apparent due the first trimester.
The summer months are traditionally a quiet time in the Real Estates business on the Costa del Sol as many of the people who visit the area are primarily in holiday mode. Beach, sangria and nightlife are the main concerns with little thought given over to property purchases.
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An interesting article has come today in the hard print edition of the Sur in English that will be of interest to anyone looking at long term property investments at the moment. The new western Costa del Sol train link. The article in itself is not property related, but being an estate agent I cannot help but think along those lines (no pun intended).
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According to Tinsa’s property price index on the Mediterranean coast fell by 14,3% in 2008 with a lower drop in the towns and cities at 10,2%. For you information Tinsa is one of Spain’s leading appraisal companies.
It also appears that this fall applies to both newly built and resale properties.
Well the property market is definitely getting interesting now with all sorts of properties coming onto the market at very competitive prices. We are finally seeing a return to the ‘real’ market prices that could be found prior to 2004.
Of course if you look into the statistics supposedly prices have returned to their 2006 figures, but with all due respect to those who compile the stats, this is in our opinion slightly optimistic.
