Estate agents start expanding and developers forecast that house prices on the Costa del Sol will surge 20pc to 30pc in 2 years.
Some of Spain’s leading estate agents (to the extent they still exist) forecast that home sales will start picking up in 2011.
Chains of estate agents like Alfa Inmobiliaria and Don Piso plan to open more offices this year, reports the Spanish press.
Estate agents in Spain have taken a beating during the property market crash. More than 40 chains of agents disappeared, including Fincas Corral, Era, and Coldwell Banker, with a loss of more than 15,000 jobs.
Costa del Sol house prices to blast off
José Prado, President of Malaga’s Association of Constructors and Developers, claims that house prices on the Costa del Sol are about to blast off as the stock of homes for sale starts to decline.
“There are very few new homes coming onto the market, which will bring down the total number for sale and drive up prices 20pc to 30pc in 2 years,” said Prado, quoted in the Spanish press.
According to Prado, there are just 22,000 homes on the market in Malaga province, which includes the Costa del Sol.
But 75pc of property executives say prices will continue falling
On the other hand, the latest survey from real estate consultants CB Richard Ellis reveals that 75pc of property sector executives expect prices to continue falling everywhere outside of city-centres, especially on the coast.
As usual, plenty of conflicting information coming from the Spanish property market.