A good time to buy.
It’s the kind of thing that salespeople are always telling you, but 2018 really is a time when buying a property in Marbella makes a lot of sense.
Firstly, the Spanish economy is among the best performers in Europe, the banks have strongly recovered their liquidity and are offering mortgages again, domestic consumption and investment are up, foreign funds and smaller-scale investors are lining up for Spanish property, assets and ventures, and the country is in the midst of a tourism boom.
Moreover, demand for Spanish property is strong, especially in top beachside locations such as Ibiza, Mallorca and Marbella.
Here keen demand from Scandinavian, Belgian and French, but also British, Dutch, German, Moroccan and Middle Eastern buyers is driving a dynamic property market marked by solid but sustainable sales. The same is true of property prices, whose growth is encouraging to both homeowners and investors, yet in no way has begun to ‘bubble’. Indeed, but sustainable increases, indicating that there is still some way to go in this upward cycle.
The construction sector too is performing strongly, working hard to satisfy the demand for new-build properties that feature the latest architectural styles, qualities and home comforts.
Strong prospects for 2018The background conditions, therefore, provide a very solid base for continued growth in 2018 and beyond, but if these are the macro conditions there are also some more detailed ‘micro’ conditions that make this a very interesting time to make that property purchase or investment in and around Marbella.
From an investment point of view it is always good not to wait too long into a growth cycle if you want to maximise your returns, but in addition to the fact that there is a first-class range of attractive apartments, villas and townhouses to choose from in locations from Estepona through to Mijas, a very important factor is that interest rates are at a historic low – and likely to go up.
This is not expected to happen before next year, however, making 2018 a very fortuitous time in which to take the opportunity of a dynamic market, rising prices and historically low interest rates.
Buy next year and you will have lost some of that rise in property values and may have to pay more in interest too, although the increases are likely to come in gradual steps.
Altavista Property is a leading promoter of fantastic new developments on the Costa del Sol.
Contact us for more information about excellent new homes and great first-phase opportunities in new projects about to be launched.
