The past year was a good one for real estate and the economy in general on the Costa del Sol, going into the annals as a period of strong recovery and growth, but here are some interesting facts and figures you may not have seen yet:
- €2,307 – the square metre price of property in Marbella as of the end of 2014. It represents an increase of 3.7% over 2013!
- 0,329% – the all-time low rate of the euribor (European Interbank Offer Rate). It’s the rate mortgage repayments are based upon.
- €300 – the average amount mortgage payers will be saving in 2015 as a result of the low euribor rate!
- 827 – the number of properties sold in Marbella town in the third quarter of last year – an increase of 12% over the same period in 2013.
- 17,235 – the number of properties sold in Málaga province from January to September 2014. An increase of 31,2% over the same period in 2013.
- €32.5 billion – the value of Spanish property transactions between January and September 2014.
- 34% – the share of real estate bought by Spanish-resident foreign buyers.
“The upward movement in Marbella property values is expected to continue in 2015,” says Greenlife Estates’ Massimo Filippa, “this largely in response to the continued strengthening of demand and property sales in the area. With more financing available again, and interest rates at an all-time low and expected to remain favourable for some time to come, this should not only further stimulate demand but also diversify the buying public even further.”
“For this reason we expect overall sales in Spain and in our own region to continue to grow in the coming year, along with square metre prices and overall transaction value, though after peaking in 2015 the proportion of foreign homebuyers should begin to decline again as a percentage of the total, as the Spanish market slowly returns to strength. ¨
“In all, it spells a continued movement towards sustained growth in our market and an interesting year for us all,” continues Massimo Filippa. “May this upturn in real estate and tourism, along with the many infrastructural improvements of recent years, further strengthen economic development and bolster the reputation of Marbella as one of the finest places to live and visit in the world.”
