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Thursday, January 28th, 2016

2015 registers a rise in property prices in Spain

Property prices in Spain experienced a 6.6% rise through the third quarter in 2015 according to figures from the Spanish Property Registrars Association (Colegio de Registradores de la Propiedad de España). It should be recalled that Spain had not experienced an increase like this since 2007, before the real estate bubble burst.

Rise in property prices

According to the Association, the rate of property prices shows a rise in average price better than that of other organizations, and this perfectly sums up the situation in Marbella, whose real estate market has been on the rise since 2013.

Properties in the best residential areas in Marbella

DM Properties, a leading luxury real estate agency on the Costa del Sol, has witnessed the increase in demand for properties over the last ten years, and consequently the rise in market prices too. This phenomenon is also responsible for the notable rise in the value of properties located in prestigious areas such as Puerto Banús, the Golden Mile and Nueva Andalucía.

If we take registry details into account, in September 2015 there were 92,786 properties for sale in Spain, meaning a 16.6% increase in relation to figures from 2014. In Marbella’s case, the properties, especially those located in areas that are particularly in-demand, have been sold more quickly.

Shortage of newly constructed upmarket properties.

The increase in the volume of sales has resulted in the shortage of newly constructed properties. Given the lack of new upmarket properties and facing the controlled demand for these same properties, plots have started to generate a bigger interest amongst buyers.

In light of this new trend, the owners of apartments and villas in Marbella will have to establish a more realistic sale price if they want to quickly sell their property. It must be noted that despite the fact that property prices have gone up, they have not reached their value from 2008, and besides, it shouldn’t be forgotten that a property’s price also depends on its location.

At the time of establishing a price, it is recommended that you turn to a professional to advise you and that you know both the region’s real estate market situation and the different residential areas. Diana Morales Properties comes with an excellent track record and a team of professionals with a wide knowledge of the Marbella real estate market, and so should you want to set your property’s price then we will be more than happy to help you. Please don’t hesitate to contact us and make an appointment.

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