Marbella’s property market has got investors talking again and is among the first to appear from Spain’s hard hit recession. Despite price drops of up to 60 percent for non-prime locations across Spain, beachside properties are still commanding premium prices with demand dominated by British, Scandinavian and Russian buyers. Marbella is the place where sales grew the most in the whole of Spain last year as a percentage according to news agency SUR. The figures show a 23 percent increase last year and sales volumes are now approaching pre crisis levels. Sales are being driven by demand, especially from China, for the Spanish Golden Visa for residency on property purchases over €500,000. According to the Spanish property market Marbella is seeing excellent results from this opportunity among American buyers too. It seems that many nations have taken the possibility of the Golden Visa as a signal to start investing in Spain. CB Richard Ellis has reported that Spain is seen as the third best country for property investment in Europe, with Spain up from five percent of investors being interested last year to 19 percent being interested this year. Marbella is proving popular for investors as it offers a non-EU resident looking for a portfolio opportunity residency into the country, a retiree looking to relax and enjoy the warm climate, and is a good opportunity for a second holiday home with the fantastic properties that are currently on the market. The Spanish economy expects these trends to continue over the next year thanks to the economic recovery in Northern Europe combined with the Golden Visa programme. Continued low prices in Spain allied to a weak Euro also makes Spanish property attractive for buyers.
Marbella Sales Grow In Spanish Property Market