This may surprise a few of you who believe everything in the UK press but in prime location areas of Puerto Banus and Marbella property prices generally are more exclusive than they were 12 months ago and we can guarantee they will be more expensive in 2015 and not just in prime location areas.
Two developments in Puerto Banus that our clients really like illustrate this point. The first being Embrujo Playa where 12 Months ago the best priced apartment was 310,000€ and today as we speak the best priced apartment is selling for 350,000 Euros with other similar apartments higher than this price. The second example was a sale in December of last year in Bahia de Banus with an asking price of 499,000 Euros now the lowest priced apartment available is well above 600,000 Euros.
This just illustrates the problem on the ground and managing the expectation of our client who still believe they can buy at last year prices. Some clients expect prices to fall further but that’s not going to happen in Puerto Banus or Marbella.
In secondary locations such as Mijas Costa and Estepona prices have remained pretty flat but they will increase soon as buyers who can no longer afford to buy in Puerto Banus and Marbella have to look at second choices.
Moving forward the cost of land and cost of construction only mean that prices will become more expensive with anything built new having at least a price of 2500 Euros per square meter. When you compare that to some of the bargains that can still be bought at 1500 Euros per square meter one should think very seriously about buying in 2014 or spending more money in 2015
If you want any advice on how to take advantage of the last remaining great deals contact http://www.spanishhotproperties.co.uk/ and they will be happy to help.