So it’s happening again… Spanish house prices are continuing to rise. This has been happening for five years in a row now, with no signs of abating. Or so the latest forecasting from the Instituto de Práctica Empresarial (a business school that focuses on property) says. The recent 25th edition of the IPE’s Property Outlook report outlined the data on these promising increases in the Spanish financial daily Expansión.
Across Spain the prices of property prices are anticipated to rise by 6.1%, which means your dream property on the Costa del Sol is set to go up too. On one hand, that means the time to buy is now. On the other, it means you’re making a worthy investment. The property for sale on the Costa del Sol is some of the most popular in the region, and any time spent here will tell you why that is.
Spanish property prices just keep on climbing
At the end of 2017, the average property price was just over €150,000, which is a 9% increase on the previous year. In the third quarter of 2017, they had gone up by 6.7%, as reported by the Spanish Statistical Institute (INE). This year the outlook is something like this: the average price of property will climb to €160,438, which is the highest it has been since 2011.
From 2014 to 2018, the average prices of Spanish property went up by around 21%, according to the IPE. With the prediction of the 6% plus increase, it’s clear that the market is going from strength to strength. Foreign investors can’t get enough of the wonderful properties on offer here, so if you’re thinking of making the move this year, you’ll have plenty of like-minded company. In Andalusia alone, the prices are estimated to rise by 7.1%, which is well above the national average.
We’re almost back to where we started
2018 is a good year, being the fifth consecutive year of price climbs; this is the first period in which prices went up since the seven years of price drops that plagued the Spanish economy. At the time of the property boom – in the four years before the crash of 2008 – prices were healthy and the market was thriving. Finally, 2018 is the year when we can expect to see similar prices making a comeback.
At the moment, prices are still approximately 9.5% less than they were in the booming year of 2005, according to statistics released by the OECD. If (as the recent projections indicate) things continue in the same vein, by 2019 property prices will have reached the levels they were at in 2005.
How will you choose from the many options you have?
If this information has renewed your interest in a move to the Sunshine Coast, know that there are so many amazing places to choose from here. The trickiest part is choosing from the diverse selection of fantastic areas… which is when the assistance of a trustworthy, reputable Real Estate agent counts.
We will go over the requirements you have for your dream lifestyle, applying our extensive knowledge to come up with the best possible options for you and your family. There is a world of difference in many of the areas despite their close proximity, so it definitely helps to know that an honest and knowledgeable agent has your back.
From rustic townhouses to luxury penthouse apartments…
Whether you’re looking for something just for the holidays, something that will serve as a lucrative investment, or something to enjoy twenty-four seven, we’re certain that our properties are going to leave quite an impression. We have front line luxury beach apartments, penthouse apartments, and brand new villas both inland and on the beach… we also have some exceptionally beautiful modern and rustic townhouses; you’ll just need to have a think about what fits your vision best.
When you’re ready, Paradise Marbella will be happy to show you around the top areas on the Costa del Sol. Popular choices include Estepona, Benalmadena, Marbella, Benahavis… there are also the many stunning white villages, and a whole host of other Costa del Sol areas with their own unique charm.
What’s more, our team is always prepared to go the extra mile. Our service doesn’t end at a sale; we are a full-service company and our after sales service includes negotiations, consultations and connections with useful service providers, such as: interior decoration and furnishings, refurbs and renovations, gardening and maintenance, security, banking, sports facilities, schools, restaurants, transport and more. Whatever it is you need, just say the word.