The real estate market all over the world has been in shambles however it has been making a recovery in the last seven years. Although Spain as a country has taken a huge blow in the economy and the real estate market went down hard it is showing signs of rebalancing. This is a rather uneven progress as some parts like Marbella have been recovering faster than others. A lot of foreign investors have bought property in Marbella, by last reports around 85% of the Marbella real estate investors coming from about, especially the UK.
Why buy in Marbella?
Since the Marbella real estate market is fueled mostly by foreign money the concerns are dropping fast. The area is not depended on what goes on with Spain as a country from an economic point of view and has a great stability. Also it is very easy to monetize the property either by letting or by just posting a “property in Marbella for sale” type of add. Besides this, like any piece of property a house here will create equity. So owning a piece of property in Marbella is a winning deal from any point of view. If money is not the question then any buyer will be left with a beautiful piece of property in the place claiming to have the best climate in all the Mediterranean basin.
The prices for Marbella property are still down as a result of the economic crisis so it would make it perfect sense to buy now while the market is on the rebound. Although the prices are not as low as they could be they are still lower than projected. This is a lucrative deal for both investors and people who want a home for retirement.
Although the region hit the lowest point in property prices in 2011, Spain as a country only reached that in the beginning of 2014 so the Marbella real estate market has had quite some time to establish a positive trend. Articles around the web are announcing that the real estate crisis in Marbella is over, however it is only over from a volumes point of view. Prices are still somewhere 15-20% below peak market point so investing in Marbella property will probably turn out to have a fast return of investment.
Marbella is a hotspot for tourists looking to bake in the Mediterranean sun and a way to capitalize on this is by investing in property. When looking for property for sale in Marbella the standard rules for buying property do not apply as this is not a housing market but more a vacation housing market. Do expect the prices to be a little higher than what housing prices would be, however monetizing these pieces of property will be a lot easier. One thing any investor should know is that Marbella is still on the recovery slope, a little way from hitting former peak so now would be great time to invest in property and it’s not too late to reap the results of the crisis