Price Corrections Marbella
Latest figures from the property analysis data over the last six months have indicated that the luxury property market in Marbella has remained ‘steady’. The figures also confirmed that the number of property sales has continued to rise across all regions of the Costa del Sol (source Lucas Fox of Barcelona).
A very interesting piece of data shows that the gap between the sellers asking price and the actual sales price is decreasing, indicating that selling prices are more realistic, with less room for negotiation.
This essentially equates to the long over due ‘price correction’ that many property agents referred to earlier on in the property crisis.
Buyers continue to be from many different international destinations including a rise in buyers from the UK (taking advantage of a stronger pound) and buyers from the Middle East looking for a luxury retreat.
The much lower asking prices have also fueled the ‘investment property’ buyers along the Costa del Sol and we are seeing the return of ‘buy to let’ properties in key tourist areas such as Marbella.
For those of you looking to purchase a property in and around Marbella, now really is the time to consider that purchase with prices down by up to 50% since the peak in 2007.
