The IPE business school specialising in real estate have claimed that the Costa del Sol Property market will grow 10% this year!
Jose Antonio Perez from the IPE has reported to the Spanish press that the Costa del Sol in particular, is likely to show a higher growth rate than other inland areas of Spain, Madrid and Barcelona being prime examples.
The amount of properties purchased in the Province of Malaga, particularly on the Costa del Sol are already up 10% this year and represent 5% of all property sales nationwide. If this trend continues, sales in Malaga province are forecast to account for approximately 30% of the overall Andalucian property market and 20% of the total Spanish property market.
This huge upswing in property sales has been fueled by foreign buyers returning to Spain to snap up a bargain property and also playing a significant part is the favorable Sterling to Euro exchange rate.
Throughout the most popular locations such as Benahavis, Marbella and Estepona real estate agents are starting to encounter multiple buyers for individual properties. Currently there are shortages of quality resale homes and many new developments built or off plan are sold out!
Once again Costa del Sol Property is in High demand