Are you one of the 70 percent of Brits wishing to move abroad? That’s an incredibly high number, and a number most estate agents in Marbella thought would never come around again. It’s hard to believe that just a few years ago, many expats from the UK were desperately saving up to leave the Costa del Sol and try their luck again back home. However, and you’ll excuse us if we find it a bit amusing; but something’s never seem to change, and this includes our (the Brits) tastes in property abroad.
Real Estate Costa del Sol: UK citizens are still in love with the sunshine coast
Surprisingly, and after so much economic turmoil, the Brits once again are flocking overseas to buy property. In fact, Spain has been rated as the UK’s favourite overseas property destination in the latest report for 2015 by Overseas Guides Company. The relationship we’ve had for so long with the Costa del Sol still makes our heart pound even after what could be considered a small hiccup in the love affair. But who can really blame them? Costa del Sol real estate is once again considered to be a good investment no matter where you buy these days.
Probably one of the best parts of this property market recovery is you don’t have to be in the mega rich league to snatch up that perfect property for sale in Marbella. Marbella luxury villas are still highly prized, if for nothing more than their luxurious landscapes, and for the past two years or so, the cost has remained incredibly affordable. According to figures issued by the Spanish National Institute of Statistics, the property market expanded by 10% in January 2015. This is the first time the market has genuinely expanded since the crisis began.
If that bit of news doesn’t convince you, even more incredible is the Spanish housing market has grown five consecutive months, and 10 out of the last 11 months, which suggests that the property market in Spain has finally got its foothold back after seven long years of declines.
So, the love affair continues, and UK residents can once again rejoice under the sun.
Property sales to foreign buyers up by 20%
According to the Ministry of Public Works, last year “Twenty per cent more properties went to foreign buyers in Málaga province.” The total number of properties sold in Málaga province in 2014 was 23,929, of which 9,100 went to foreign buyers, with the Brits topping the list.
When estate agents in Marbella look back in 20 years or so, most of us will shake our heads in dis-belief. After all, what we’ve witnessed these past few years is nothing short of a miracle. Even though many predictions have been made over the last 4 or 5 years regarding a slight turn around; no property analysts could have seen the sheer magnitude of the recovery.
Don’t get us wrong, complete recovery isn’t here yet, but with so many positive reports popping up every day, it is difficult not to agree with the experts predicting complete Spanish property prices recovery, by 2016. The good news doesn’t end here either. Because property prices are recovering, the pound goes a lot further than before. This of course is spurring major interest amongst British buyers, considering the sterling’s new strength against the euro.
Follow your dreams, there’s no point in wishing anymore
After 7 difficult years for the Spanish property market, the tide has definitely turned and there’s definite buzz and renewed sense of interest. It’s time to get serious. Don’t miss out by wondering or shying away; now is the time to buy Costa del Sol real estate.