Tom Powell
MARBELLA is leading the way out of the financial crisis, as data shows it to be streaks ahead of other towns in Andalucia.
And nowhere is the town’s rapid recovery more evident than in its thriving property market.
Indeed, property sales in Marbella last year were more than three times that of any of the region’s main cities, with 21.9 sales per 1,000 inhabitants.
In comparison, Sevilla saw sales of just 6.75 per 1,000 inhabitants.
As well as booming second-hand sales, there has been a dramatic rise of requested building permits, leaping from 1,660 to 2,539 in the past four years.
Boss of local accountancy and legal firm Fideso, Douglas Goullet has seen some spectacular growth this year so far.
“In terms of property sales I reckon we have seen up to 30% growth this year,” he explains. “Marbella is really coming back and I reckon in a year’s time it will be nicely consolidated and money will start trickling down to the man on the street.”
The Bolivian, who grew up in Marbella attending EIC school, gave a development in the Sierra Blanca as an example of how fast the market is moving.
“Of the 40 units being built, 80% of them have been pre-sold and each of them costs from one million upwards.”
Isn’t it obvious that Marbella is outstripping the rest of Andalucía? Just look at the recent poverty map of Andalucia and see which bit is excluded. Marbella is a bubble and it really never was affected by the property crash like the rest of Spain. To keep mentioning Marbella as proof of a recovery is inaccurate and just serves the agents and developers in that one place. There are over 2 million empty homes in Spain. When they start selling those, then there will be a recovery.
Fred
I was getting worried about you, your refreshing comments have lately been scarce, but evidently you are up and running.
The Marbella effect is also showing East of Malaga in places like Nerja and Almunecar with proprerty sales going up very fast.
Quite right Fred, Marbella is a different case to most of Spain. Have just returned from there and for certain inland Spain property market is dire. We know and met quite a few Brits who cannot sell because their mortgages are higher than the values of their properties. Many are scraping an existence.
2.25 million properties for sale in Spain says it all!
Might as well talk about Monaco.