Sub Heading: Notary Statistics: Spanish Property Sales Increased by 21 percent last year
The final data of 2015 has been published by the Ministry of Development, and the report states that residential property sales registered in Spain exceeded 400,000 for the first time since 2010, reaching a total of 401,281 following a 9.8% year on year increase.
For the real estate in Marbella sector, this is the best news possible. But, just in case some doubts might remain for interested property investors on the fence about buying property in Marbella, we can further explore some factual numbers, and the statistical data. This will help convince those not quite sure, just how sensible it is to buy property now on the Costa del Sol.
Further reading about Spain Housing Transactions in 2014, Kyero shows some great stats from previous quarters. This can give you a basis for comparison as we carry on.
Let’s dive a bit deeper into the registries findings for the fourth quarter.
Highlights – Notary Statistics
Here is an overview summary of the notary statistics, which was published by the Ministry of Development:
- The IMF raised its 2015 growth forecast twice in three months to 3.1%
Spain beat out the average in the EU, which was only 1.5%
2015 Q3 transactions in property were much healthier, and up 16.3% with 93,743 property sales
The Spanish property market reported growing trends in mortgage approvals
The Spanish construction industry was once again refuelled, with new investments and developments being built throughout the Costa del Sol (Andalucia)
Economic Bright Spots for Andalucia and the Marbella Property Market
Looking back at the first three quarters of 2015, we see exports were up 4.4%, which was an all-time high – in fact it was a record high for the period with a total of €186.26 million. Tourism from overseas helped boost the Spanish economy, with another record breaking influx. This in effect, helped the Spanish economy recover its losses incurred during the downturn.
For tourism, the news has been only good, and by the end of 2014 the numbers hit 65 million. By the end of November 2015 64.6m had already been recorded. The Spanish Ministry of Tourism predicts the final total will be in the region of 68 million in 2016, which would rank Spain the third most visited country in the world for the third consecutive year.
These figures are important for the Marbella property market, and of course property for sale on the Costa del Sol throughout because as many Marbella estate agencies have been reporting, the international buyers mostly start out as tourists. The tourism sector accounted for 15.3% of employment and 15.2% of GDP and both these percentages are higher than the peak year of 2007, this alone underlines just how important tourism is for the Spanish economy.
Is the now the time to buy Marbella Property or Sell your property on the Costa del Sol?
The short answer – yes absolutely.
Now is the time to buy and even to sell. Many foreign investors for example are taking full advantage of rental income – to be reminded about tourism, just go back to the top of this blog. To explore property investment options that gives you a high ROI, rental income is the number one source.
To generalise, the statistics speak for themselves when it comes to the property sector in Andalucia – this will include everything from luxury beachfront Marbella villas to bank owned Benalmadena golf apartments and other types of property on the Costa del Sol. But, as a Marbella estate agent it is foreign investors, especially those in the UK, who we see taking advantage of the property prices, buying up extremely reasonably priced property across the Costa del Sol with a focus on both personal use and a sound investment.
Tourism remains one of Spain’s biggest assets, and the property market comes in second place. As of today in 2016, property sales are at an all-time high, the construction industry is back at work building new Marbella developments, and jobs are once again flooding the market.
For those wishing to make a lifestyle change this could very well be the time to make a move. If owning a property in Marbella has been your dream, then find out how to make your dreams a reality.
For more information about our extensive portfolio of property for sale in Marbella, please browse through our site, and contact us with any questions you may have.
Bromley Estates Marbella has just been named by Neinor Homes as the exclusive promoter for the newly launched Benalmadena Golf Homes resort, making this project the company’s fourth collaboration with the Spanish property giant.
Marbella real estate specialists, Bromley Estates Marbella, officially launched this lifestyle and golf resort on the market for sale at the end of January 2016, and the show flats are now open to the public for viewings. There has already been intense interest from Costa del Sol based real estate agents in the weeks preceding the launch; a selected number of units were made available for reservation only, in a pre-launch for selected return clients and investors. Bromley Estates Marbella are delighted to now confirm that over a short release period 25 units have already been officially reserved.
Established in 2009, Bromley Estates Marbella has the expertise to identify the features that make a development desirable as an investment or rental property. Benalmadena Golf Homes ticks all of the boxes due to the fantastic views, high quality standard, range of amenities, location and the incredibly low price.
The development is situated in one of the finest residential areas of Benalmadena, just outside of the vibrant Benalmadena Marina area, but within easy reach of the town centre. It is positioned to take full advantage of the mountain backdrop and golf course on one side, along with spectacular sea views to the south. Benalmadena is one of the most popular holiday destinations on the Costa del Sol, as such property of this calibre which is available at this price point, will be in high demand amongst international investors.
Managing Director of Bromley Estates Marbella, Hayley Bromley, explains, “The Benalmádena Golf Homes resort offers investors access to prime residential, holiday or rental properties at very reasonable prices. We expect an extremely fast sell out of this development due to the price point, location, quality and superb amenities: golf, tennis and paddle tennis courts are literally a few steps from the front door and the beach, marina and thriving town centre are a couple of minutes away by car. There are no comparable properties in the Benalmadena area and we are delighted to have been selected by Neinor Homes once again to represent such a quality product to offer our customers.”
Marbella launches a new vision as the must-go destination by unveiling a new tourist slogan and plan for the future at this year’s International Tourism Trade Fair in Madrid. The announcement which was made on the 19th January 2016 in front of an audience of international VIPS, will also see Marbella present itself independently from the Costa del Sol for the first time in 8 years. They will announce Marbella as the blueprint for a sustainable city.
The Costa del Sol based Euro Weekly News reported that the presentation will outline the town council’s vision to develop Marbella into a ‘smart city’ using 15€ million funding from the European Union. In 2013 alone, Marbella implemented 150 procedures as the first step to providing intelligent solutions aimed at improving the quality of governance, commerce, tourism and everyday life.
The overall vision for Marbella includes creating more green spaces, updating buildings and promoting economic growth. The government also plans to invest in renewable energy, transport and aims to make its services more accessible by embracing the latest technology to deliver ‘eGovernment’.
Marbella has always been the jewel on the Costa del Sol, and now it looks set to become the Mediterranean’s first smart city…
Watch this space for further updates about Marbella investment and developments. In the meantime, if you would like more information about prime Marbella real estate or property for sale in Marbella and the Costa del Sol, contact email@example.com.
Breaking news! Luxury property developer –Zagaleta Limited– owner of La Zagaleta luxury residential and golf estate in Benahavis (just outside Marbella on the Costa del Sol), has just announced that they are the new owners of the Valderrama Group. The Valderrama Group is the owner of the equally prestigious, world famous Real Club de Golf Valderrama in Sotogrande – considered to be the number one course in Spain, and amongst the best in the world. The deal also gives Zagaleta Limited control of the iconic trademark and ownership of Valderrama 2 – a brand new luxury residential property development project in Castellar (Cadiz).
The takeover unites two of Southern Spain’s most distinguished companies, and will see La Zagaleta Group invest 240 million euros into the new project over the next 10 years. The development will include a new championship standard golf course designed by a leading landscape architect. The new project covers 200 hectares and will be developed in accordance with the same high standards of quality, privacy, and security, which have been applied to La Zagaleta’s residences and services over the last 25 years.
Jacobo Cestino – Managing Director of La Zagaleta Group in Spain – explains, “This transaction confirms our position at the forefront of the high end luxury property market, as well as connecting us to one of the world’s most prestigious golf brands.” He went on to confirm that they haven’t ruled out the acquisition of further lifestyle and luxury brands in the medium term.
La Zagaleta is one of the most coveted addresses in Spain. There are 230 luxury estates ranging from 3000m2 to 10000m2 starting at an eye watering 5 million euros! If you have not previously heard of La Zagaleta, you may well be more familiar with some of the famous names who are rumoured to visit and who own estates within the development; such as Hugh Grant, and even the Mayor of Moscow. One of the attractions of this exclusive enclave is the high level of privacy, which is why it’s so popular amongst the rich and famous, international celebrities, and royals.
Apart from the fact that this heralds the arrival of a brand new championship golf course and high quality development, it is also a clear signal that confidence in the Spanish property has returned –in abundance.
If you are interested in luxury property for sale in Marbella, or golf property on the Costa del Sol, contact firstname.lastname@example.org for more information.
If you regularly visit Southern Spain you’ll already know that the sea and sunshine make it one of the most popular all year round holiday destinations in Europe. But have you noticed that the country also has one of the world’s most generous public holiday allowances?
As a Catholic country, a number of public holidays are religious in their origin; for example Marbella celebrates Saint Barnaby (San Bernabé) on the 11th June – similarly every other town and village celebrates their patron saints with a public holiday.
Just to give you an idea of the generosity of the Spanish public holidays; throughout the UK there will be 7 bank holidays in 2016 whereas Spain has 9 national holidays plus several local holidays. In Andalucia the local holidays add up to a whopping extra 3 days – plus local saints’ days. So if you are lucky enough to live and work in Andalucia this equates to an additional 12 days holiday each year in addition to your annual holiday allowance.
Unlike the UK where public holidays are taken on the nearest Monday, Spanish public holidays are taken on the actual date that they fall, which leads to the infamous puentes or bridges. It is a common practice in Spain to ‘bridge’ a midweek bank holiday by taking the days off in between to link it to the weekend, making an extraordinary long bank holiday.
These bridges have recently come in for criticism in the light of the recent economic difficulties, as they are thought to be a contributing factor in slowing Spanish productivity. Back in 2011, the current conservative Rajoy Government said they would change this practice by moving all bank holidays to the nearest Monday, yet, a quick scan of the newly published 2016 public holiday list shows that this has yet to happen, so for now at least the puentes live on.
Here’s a summary of the UK and Spanish public holidays to help you plan your holidays:
|1 Jan – New Year
|6 Jan – Epiphany (3 Kings)
|29 February – Andalucia Day
|24 March – Maundy Thursday
||Local (everywhere except Catalonia)
|25 March – Good Friday
|2 May – May Day
|15 August – Assumption
|12 October – Columbus Day
|1 November – All Saints’ Day
|6 December – Constitution Day
|8 December – Immaculate Conception
|25 December – Christmas Day
|26 December – In Lieu of Christmas Day
If you’re interested in viewing property for sale in Marbella or any other areas on the Costa del Sol, Bromley Estates Marbella will be open for business as usual during the Spanish bank holidays. Please contact email@example.com for more information.