If there is an especially advantageous time to buy a property in the Costa del Sol, that time may be now, at least if recent data from the recovering Spanish property market is anything to go by.
Not only do the Ministry of Development’s latest published residential property statistics show a 2% rise in the average cost of housing in Spain during the 12 months ending on 30th June 2016 to 1,506 Euros per square metre, but the BBVA banking group has suggested that there could be similarly positive news to come for the months ahead.
An important milestone for property values
The aforementioned figure from the Ministry of Development marks the first time the 1,500 Euro barrier has been broken since mid-2013, as well as the fifth successive quarter in which a year-on-year increase was recorded.
Even better news, however, is BBVA’s prediction that Spanish property prices will remain on the up for the remainder of the year, as indicated by a climate of higher property values, sales and building activity. Better mortgage conditions and a steep heightening in tourism are other factors that are said to have spurred on the greater demand for Spanish property as of late, especially holiday homes such as those in the Costa del Sol.
According to Spanish Property Insight’s Mark Stuckin, “BBVA expect new development to continue expanding on the back of stronger demand and the gradual disappearance of the new homes glut, at least in areas where there is demand, such as big cities and popular coastal regions”.
Now may be the time to invest in Costa del Sol property
Here at Winkworth, we know that you will likely already be familiar with many of the renowned attractions of the Costa del Sol region, and may therefore be most interested in receiving the right assistance with the purchase of your own desirable property in this sought-after region.
We can provide wide-ranging help when you wish to buy a property in the Costa del Sol, listening carefully to your most specific requirements while taking as much stress as possible out of the house hunting process.
Simply contact our team here at Winkworth today for more information, or begin your property search in earnest by browsing our website right now for those dream properties presently available to buy through us.