A microclimate

By | February 18, 2011

Geoffrey Donoghue of Always Marbella property sales and rentals, reports on the latest news and events. For more information please visit Always Marbella’s website at www.alwaysmarbella.com

Thoughts of a property recovery in the Marbella market may seem rather too optimistic given the state of the overall Spanish economy, but here too there are some encouraging signs as property prices seem to have levelled out on a national level, driven by the mild but real recoveries in Madrid, Barcelona, Marbella, Alicante and some of the country’s northern cities. Unemployment, likewise, has dropped slightly for the first time in three years, though it cannot be denied that the national economy’s woes are not entirely over yet.

The important point to note here is that the Marbella economy is like a microclimate, reacting more closely to the economic situation in other parts of Europe than to that within Spain as a whole. Indeed, most of the buyers that produced the rise in property sales over the past few months have come from Germany, Russia and Arabic countries, confirming this region’s international status.

Moreover, though the middle section of the market has shared in the latest upswing it is especially the luxury market that continues to perform well. Sales volumes may not be as high as during the heady days of the boom, in the early 2000s, but apart from a brief dip immediately following the financial market crisis at the end of 2008 they have maintained a steady level that continues to rise gradually.

For the best properties directly from the bank with 100% mortgages in place, please contact geoffrey donoghue, www.alwaysmarbella.com

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