According to the March IMIE report from Tinsa nationally the price of property is up 4.9% from last year with an average time on market of 8 months and an average price of €1,349/m2. The rise has been steady since 2017 and although prices are still a long way from the highs of 2003-2006, the steady rate of growth is more likely to last.
Here in Andalucia, the price of housing has experienced a year-on-year growth of 5.2% in the first quarter of 2019, to 1,235 euros / m². This is good news for those investing in property particularly when buying off plan when you can get some great deals under market value for buying at this stage. The return on investment for this type of property is one wise investors pay attention to.
As you can see house prices in Andalucia are steadily rising meaning now is an excellent time to buy. The market is more stable even though Brexit has been a potential to dampen it, British are still buying their holiday home in the Costa del Sol. The dream of retiring here has long been close the hearts of many British and recent INE data shows that Brexit isn’t putting them off with British being the third highest nationality registering on the electoral roll (empadronamiento) in Marbella up to January 2019.
Now this clearly means that the British are getting legal and ready for any Brexit fallout as being on the empadronamiento (padron) is one step towards becoming a resident. Being on the padron means you are entitled to vote in local and EU elections as well as being able to register for local healthcare.
If you are thinking of buying property in Marbella or anywhere along this beautiful Andalucian coastline, contact us to talk through the process. When you are in the hands of property experts like Bromley Estates Marbella you can rest assured the journey to choosing your new home in the sun will be easy.