• By admin
• February 25, 2015February 25, 2015
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Having lived in Spain for over 12 years and seen the property market go from boom to bust, seen developments spring up all over the place to leading developers declaring bankruptcy and seeing the pound against the euro go from the mighty to the pathetic, it is quite easy to be sceptical about any recovery.

However 2014 saw the market start to recover ever so slightly and those 500,000 euro apartments were reduced to more realistic 250,000 euro levels. In the boom you could not pick up an apartment in any development on the Costa del Sol for less than 300,000 euros, but now some are even under 100,000 euros.

If you couple these huge reductions, or as we prefer to say, ‘corrections’ in price with the much stronger pound against the euro, then the actual cost of buying a property in Spain is incredibly lower than it has been for over 15 years.

Let’s look at a typical example. Back in 2006 a 2 bedroom apartment on a development like Costalita on the ‘New Golden Mile’ in Estepona was selling for around 350,000 euros with an exchange rate of around 1.42. So you would have needed £246,478 to purchase. Now these apartments are selling for around 160,000 euros with an exchange rate of 1.33. That means you will need £120,300 to purchase one of these apartments.

So to summarise the price from the boom and now for one of these apartments is essentially half the price. This is the case for many of the developments on the Costa del Sol as well as for townhouses and villas up and down the coast. In fact in some cases the reduction is even greater.

So are you looking to but a property in Marbella (or elsewhere on the Costa del Sol)? Well now is the ideal time to get that home in the sun. We are already seeing a remarkable increase in property sales and while this is fantastic for the area, it will eventually mean that prices will start to creep back up again. In addition the euro right now is at a low against the pound and if this does change and get stronger again, the ‘actual’ price for purchasing will be higher.

We have access to many fabulous property bargains in Marbella and the Costa del Sol In general from beach front apartments to luxury villas, all at a fraction of what they were selling for a few years ago.

If you would like the latest lists of bargains then please contact us and we will be happy to forward you the latest properties available.

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