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
After a summer in which both the tourist and real estate sectors in Marbella recorded their best results in over two years, it is important to note that the upward trend has been maintained into autumn, signalling a new vitality to the market not seen for some time.
The beginning of the year witnessed a small but promising surge in sales, though it is perhaps even more telling that for most of the past 12 months the figures were remarkably level, at around 2,000 property transactions per month within the province of Málaga. In itself, this tells us that the market has evened out, accompanied by the fact that price levels in the more sought after areas have begun to settle as well.
Why is this important? Because the stabilising of the market is usually the trend that precedes a gradual recovery, and the past 12 months have provided exactly that picture. The break in this trend came with the significant rise in property sales that started in June this year and has continued not only during the normally slow summer season, but also into autumn. Could this be the beginning of the long-awaited revival?
It is too soon to tell at this point, but the first signs are very promising. Property sales in Málaga
Province rose above the 2,000 level to reach 2,359 in August, a rise of almost 30% in comparison with the same month in 2009, and the highest monthly figure since May 2008. This makes for encouraging reading, especially since the trend appears to be maintaining itself. The figures published by the INE (Spanish National Institute of Statistics) clearly show that the current upturn is the first significant upward movement since the beginning of 2008.
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