Analysts forecast growth in the Spanish property market

Analysts at BBVA are among those that believe further price increases in the Spanish property market are going to happen, although in some parts of the country they believe the property market may not have bottomed out yet. Here in the Costa del Sol all indicators show the market is on the up with more agents reporting greater sales in the last quarter than they have had in a long time.

Economic indicators such as low mortgage rates and employment data are encouraging demand and is exerting upward pressure on market prices. Combine this with excellent visitor numbers from those overseas looking to buy here which is adding further demand for property. Post Brexit the market was a little jittery but it no longer seems to be having that effect.

There has been a noticeable increase in demand for buildable land which the countries notaries report increased by 81.5% during the second quarter of 2016. We can certainly see more new high quality developments coming to market and more than that, some of those off-plan developments are reserved in a matter of weeks after release. There is renewed confidence in the off-plan sales market as buyers understand the investment potential of these high quality brand new properties.

The increases in building activity are mainly in the residential property construction sector with some stunning developments currently happening here including Le Mirage Santa Vista in Estepona and the luxury key ready Estepona apartments Residencial Hoyo 19.

Most in demand seem to be brand new, stylish and contemporary apartments and villas that offer buyers a slice of the Costa del Sol lifestyle which is hard to beat with over 300 days of sunshine each year and a superb array of outdoor activities perfect for all ages. Whether you are considering buying here to live all year round, or looking for a second home, speak to one of our multilingual team who can assist you through the process.