Five Reasons Why Luxury Property in Marbella will Boom in 2014
06 Dec 2013
Nick Stuart Managing Director of Spanish Hot Properties certainly thinks so, especially for properties priced between 300,000 and 3 Million Euros. Nick gives five reasons why 2014 will be a good year for luxury property sales in Marbella
1 Golden Visa, already its clear there is going to be a huge uptake of this opportunity and most importantly the majority of buyers in this segment would probably have chosen not to buy in Spain had this law not been passed. China will lead the way but it’s the Middle East states of Egypt, Syria, UAE and Saudi Arabia that will provide a huge boost. Most importantly this segment will only want to be in Marbella due to the lifestyle and Marbella Mosque.
2 A vast choice of buyers from all around the world. Gone are the days where UK Citizens made up 60% of overseas property market in Spain. It’s now down to 15% and falling with Scandinavia at 13% and rising, Benelux 12%, France 10%, Russia 9% and Germany 7%. China is currently at 3% but one would expect that percentage to drastically increase in 2014. You will see buyers come in huge numbers from over fifty countries from over the world. This of course will take any excess stock from the Marbella market place.
3 Limited stock in the best areas of Marbella. Believe it or not there is actually a shortage of good luxury properties in Marbella and Puerto Banus so there will be a rush to take up those well priced units between 400,000 and 700,000 Euros.
4 Price rises, in reality prices for prime location property in Marbella have been rising since 2012. It’s clear that trend is going to continue as sales increase in large numbers through 2014.
5 Marbella Europe`s number one luxury destination. Marbella is the chosen European destination for the majority of rich and famous as it offers everything from 325 days a year sunshine, The best luxury lifestyle in Spain and most importantly through the Malaga international airport connections to all Europe’s major cities in 3 hours or less travel time.
Time will tell how good 2014 is but Nick is of the view that most properties will be more expensive in 2015 than 2014.
If you would like any help or advice on how to take advantage of the Spanish property market in 2014 then please contact Spanish Hot Properties.
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