Property Prices in Mallorca , Marbella and Puerto Banus Already Rising
02 Feb 2014
According to Nick Stuart Managing Director of Spanish Hot Properties the reason for the Mallorca and Balearic Islands rebound is very simple. It’s because there is no oversupply and Mallorca is still in demand as an International property market location.
The main areas of Marbella , The Golden Mile and Puerto Banus have the exact same fundamentals as Mallorca according to Nick Stuart but the statistics are only available for the Municipality of Marbella as a whole where you have prices between 1600 Euros a square meter to over 10,000 Euros per square meter but the best properties in prime locations have nearly all been sold or the ones that are still available have gone up in price said Nick.
This has been recently demonstrated by Golden Visa clients who have recently been to buy in Marbella with budgets between 500,000 and 700,000. Six months ago there were a lot more options but now vendors who believe the recession is over are insisting on a price that reflects the true value of their property and buyers are looking to buy at last year’s prices. Whilst there are exceptions to every rule it is the buyers who have to come to the terms with the real market and not the sellers in the sought after prime location areas where there is very little stock claimed Nick
If you would like help in trying to source the remaining prime location properties in Marbella and Puerto Banus contact Spanish Hot Properties.
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