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Thursday, September 12th, 2013

Increase in demand for Marbella properties set to continue

Unlike the outlook for domestic demand, experts predict that the current trend of increasing interest in Marbella real estate is set to strengthen and grow. If this is the case, the slow recovery witnessed from 2011 onwards could develop into a full-scale restoration by 2015, but not before property prices experience significant pressure.

Increase in demand for Marbella properties set to continue

As the prices of the most sought-after properties are already beginning to level off, the cost of more common two bed apartments in less desirable areas may fall even further over the course of the year.

However, if the overall market continues to strengthen, this will result in a general stabilisation of prices before they slowly begin to rise. Now the market is benefitting most from attractive price levels, which is already visible in the competition for the most desirable properties in the best areas of Marbella. Consequently, old houses in prime locations have been restored and the number of new developments is growing, expanding the offer of new-build properties which was beginning to run out since the decline in construction after 2008.

A report was released recently by the real estate valuation company ‘Tinsa‘, which demonstrated the average period of time properties on the Costa del Sol remain on the market before sale; this has dropped below 18 months for apartments and smaller homes, and is less than two years for larger villas. Alongside overall sales, construction figures and enquiry levels, this is yet another encouraging sign that the Marbella property market is off to a good start, with an ever-growing client base which seems more diverse than ever before.

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