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.