Strong 2017 forecast for Spanish property.
While it may not always seem so when you listen to the news, but the prospects for 2017 seem pretty positive. Indeed, the Costa del Sol has been enjoying a tourism boom and strong property sector growth for several years now and the conditions for continued growth appear to be very solid. Many have focused on the potential negative impact of Brexit and the low pound it produced, but in September tourist visits from the UK to Spanish destinations such as the Costa del Sol were up by no less than 12% compared to the previous year! Looking at property figures for the country as a whole, the trend is also overwhelmingly positive, as is shown by the fact that build requests were up an impressive 35% on 2015, while the number of mortgage requests rose by 6.4%. Sales are also up and prices are rising slowly, with demand for modern style properties particularly strong and driving a resurgent construction sector. It all spells positive news in a country where economic growth is likely to be around 3% and unemployment dropped strongly within a year during which Spain was mostly without a government. Some might argue that countries are run by bureaucrats, not governments, but the latter do produce and ratify budgets for public spending, infrastructural investment and a host of other economic incentives – and if Spain has done this well without a government imagine how it can do with one! New government After almost ten months, the country finally has moved out of political impasse to form a centre-right coalition that will be looking to build upon the economic growth, continue to reduce the public deficit and also has hinted at reducing the tax burden somewhat. Together with a stabilised banking system, good inflows of foreign investment and more bank lending, it all hints at a productive 2017. This outlook is shared by Marbella, which continues to be popular not only among Brits, but also an increasingly diverse market of people from across Europe and beyond. Please contact Altavista Property for more information about property and investment opportunities in the Marbella real estate market. We are happy to advise you and help you find the best property for sale in Marbella.
