Is now the time to buy a house in Marbella?
Buy now or wait? It is always the same question: when is the best time to buy a property? There are clear indications of a change in the Marbella property market because there are more and more buyers coming from overseas, Russian, Chinese, British, Belgian, French and Dutch, not to mention the strong demand from the Scandinavian sector. With private equity funds and vulture funds closing huge deals, prices are at an all-time low!
Anyone who is thinking of buying a property should be looking now or will “Miss the Boat“. We currently have a number of properties from developers that are ready to move into, and which are selling for less than the original mortgages placed on the properties. This applies mostly to stock left over from developers on finished estates with full facilities on site. Click on MP Dunne Properties Marbella to search our portfolio or call us on +34 952 866 072
Here is the English translation of an interesting article published by idealista.com regarding the timing for purchasing real estate property in Spain:
Buy a property or wait? now is the time to look at apartments
Thursday, 12 September, 2013 – 09:40 published by idealista.com
The ongoing question about whether it is the right time to buy a residential property or not could have a different answer to the one we have been hearing up to now. Manuel del Pozo, assistant director of the financial magazine “expansion”, assures us that we are beginning to see clear signs of change in the real estate sector. Reasons why lie in the fact that there is an increase in demand being made by foreigners, more and more transactions are being completed by big investors, and that there are properties to be had at excellent prices.
Manuel del Pozo says that this is the time for those interested in purchasing a residential property to begin looking because “we either wake up now or miss the boat”. Although there is not much demand from the national market there is, and more increasingly, demand from the Russians, Chinese, British, Belgians, French and Dutch.
Moreover, he points out that an additional influencing factor is the large number of vulture funds which have been launched for buying property in Spain. “Waiting too long is like a double-edged sword because market trends are unpredictable” he adds.
With regard to property prices, nobody dares predict how they will evolve but in del Pozo´s opinion, future buyers should start looking now at real estate websites and portals.