Spanish property and positive murmurs

Earlier today I posted an article by the Times Online, which although positive, does consist of a bunch of press releases from a variety of sources. This is not to disparage the sources, but just that they need to understood in the right context.

First I will quite honestly say (and if you have read my previous articles, I am not overly optimistic) there has been a definite pick-up in interest in Costa del Sol property. Not solely from British, but increasingly from the Spanish market and to a lesser extent the Scandinavian (primarily Swedish) market.

Both property portals Rightmove and Primelocations can claim there has been a increased in interest in Spanish property, but as with everything, until enquiries are converted into sales, it has little effect on the market. What it does tell us though, is that increasing interest should lead to increasing sales down the line. Although it would be nice to have a clearer breakdown of which property types are generating interest, in which areas and at what prices.

It is similar to Taylor Wimpey’s claim of increasing interest in their properties around Marbella. Although they have a range of developments, of their four projects on the Costa del Sol, three of them are located around Marbella.
It is also understandable that with the new Urban Plan for Marbella, many potential buyers that were hesitant to buy in and around Marbella, can now feel secure in their purchase.

So what helped stifle the property market in Marbella during the last stages of the property boom, might help boost it now. At least in regards to the percentage increase of property deals.

What does reflect the thoughts of a lot of the cash rich buyers to be found on the Costa del Sol are the words of Mr Parrott.

“I just wanted to spend time there,” he said. “I like the weather and I like the lifestyle. The exchange rate did make me think twice and I went in knowing that prices will now at best remain flat for a while.”

“It is not a development from hell, like you see on the television programmes.”

As always there is a demand for properties in the right location at the right price.

Regards

Andrew Bellés

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