Demand for property in Marbella, Spain
According to a recent report, demand for property in the glamorous southern Spanish resort of Marbella appears to be oustripping supply, there has been a surge in demand over the last year for this hotspot in the Costa del Sol, it has emerged as having one of the strongest property markets in Spain.
Probably the weak Euro has been a big factor in Brits being interested in buying, along with the overall weak property prices available. Strong interest has also been noted from Northern Europe and beyond. It was recently reported that recent data from the General Council of Notaries showed that average prices across Spain have fallen in 10 out of the last 12 months, despite steadily increasing sales.
Newly built properties in these kind of locations are currently the most sought-after, according to reported comments from Stephen Lahiri, Lucas Fox Marbella Director.
Prices in the province of Malaga, which includes Marbella fell by up to 35% in the higher end of the market from the 2008 peak to 2013, they have stabilized more recently. In the last 12 months, this area of Spain has now seen the fastest price increases in Spain which is up by 4.8%, according to recent reports.