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A recent report on the Costa del Sol property market by Remax forecasting a recovery in 2015 has been seized upon by the Spanish press.
After suffering the property bust more than most other areas, the Costa del Sol will stage a sustained recovery in 2015, predicts the local Remax franchise. They expect the market to bump along the bottom until then.
Costa del Sol house prices are down “between 50pc and 75pc”, making the Costa del Sol “the destination with the greatest potential for Northern Europeans and others worldwide,” said Leonardo Cromstedt, local boss, in comments to the Spanish press.
Remax report that sales on the Costa del Sol surged at the end of last year, “a substantial increase in sales in some of the most important municipalities,” thanks to increase in VAT and lower prices, says the report.
Add to which, Remax say that foreign buyers increased by 28pc in 2012. As a result, sales in Marbella rose from 11/day in 2011 to 14/day in 2012, from 7 to 12 in Mijas, and from 4 to 6 in Manilva. On the other hand sales fell in San Roque (Sotogrande) and Benalmádena, according to their figures.
They also report that buyers now take between 18 and 24 months to close a deal.
As far as prices in Malaga province go (and I don’t know where they get these figures), 2,433 homes were sold last year for below €300,000, 29 were sold for between €750,000 and €1 million, whilst just 8 homes sold for more than 1 million.
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@mark wrote:
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Costa del Sol house prices are down “between 50pc and 75pc”, making the Costa del Sol “the destination with the greatest potential for Northern Europeans and others worldwide,” said Leonardo Cromstedt, local boss, in comments to the Spanish press.
Remax report that sales on the Costa del Sol surged at the end of last year, “a substantial increase in sales in some of the most important municipalities,” thanks to increase in VAT and lower prices, says the report.As far as prices in Malaga province go (and I don’t know where they get these figures), 2,433 homes were sold last year for below €300,000, 29 were sold for between €750,000 and €1 million, whilst just 8 homes sold for more than 1 million.
well, well, what a small world. Thought I recognised the name. From the much maligned company of ERALIA 👿
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Re/Max Eralia is a network of independently owned & operated regional sub-franchised estate agents 😆
So they are predicting the year the market will recover so no bias there, surprised they didn’t say earlier, but then the extra 250,000 that have come on the market might have swayed their opinion 🙄 Surprised the Spanish Press have seized upon it 😆
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