The Costa del Sol property market is on target to grow by 10 percent this year, according to a study by the Instituto de Practica Empresarial (IPE) produced in collaboration with MAR Real Estate.
The study claims that big cities, like Madrid and Barcelona will see an increase of between 5% and 7%, but the biggest gains are to be made in popular Coastal areas at an impressive 10%, fuelled by foreign investment.
The Costa del Sol has a bright future, says José Antonio Pérez, from the IPE, in comments to Spanish press. He claims that property sales in Malaga are already up 10% in 2015 and currently represent 5% of national sales. At the current rate of growth, the Andalucian market is on course to represent 20% of national property sales due to strong sales of luxury holiday homes on the Costa del Sol.
Anyone who has visited the area in the last few years will have noticed the abundance of properties available on the market. The report suggests that this stock will half by the end of the year – a bold claim, indeed.
While the accuracy of these statements is impossible to completely verify, the signs are clearly positive. The strength of the Pound and the Dollar to the Euro have clearly been instrumental in this upswing.
It will be interesting to see how and if this will affect the actual value of property sales. There has been some positive indications for the Coast in this area as outlined in a report by leading Spanish real estate valuation company TINSA.
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