Will 2023 be Your Year of Spanish Property Regret or Ecstasy?
It’s my personal belief that 2023 will be a defining year for UK citizens who will either buy in Spain in 2023 and will have taken advantage of the Spanish property market crisis or 2023 will mark a year of regret as they will have missed a once in a lifetime opportunity to buy a home below replacement value.
To substantiate my point of view we need to look at situation we currently find ourselves in
Well the news from last Thursday that four of the country’s 17 regions, including the Madrid comunidad area, posted property price increases in the third quarter compared with the same period a year ago.
In a press release, the country’s development ministry said property prices in Madrid, with over 10% of Spain’s population, rose 0.32% on the year. The biggest increase, at 4.8%, was posted by the Balearic Islands, led by Mallorca. The other two regions with higher property prices, Navarre and Extremadura, are also among the country’s smallest.
In Spain as a whole, the ministry said, property prices fell 4.5% on the year and by 0.5% from the second quarter. This is the slowest pace of decline since early 2011, when the country was sliding towards a double-dip recession that it only left behind in the third quarter of this year.
SO WHY DO YOU HAVE TO BUY IN 2023?
The one thing the UK press cannot do is escape the facts and the facts are that in areas that international property buyers want to buy we have hit the bottom of the market and prices area already on the rise in key location areas.
It’s my view that if you don’t buy in 2023 you will have two major problems moving forward. The obvious one that prices will be substantially higher in 2015 but just as important there may not be any properties that you want to buy. The truth is that in Costa del Sol there is a huge shortage of good quality 3 bedroom apartments between 200,000 and 300,000 Euros.
Another factor that will push prices up in 2023 is the Golden Visa for property purchases totaling 500,000€ or more. This will see a huge increase in sales above this price to Citizens from the Middle East and China with an increase in Russian sales as well.
Also with such demand from so many European countries vendors will be able to hold out for their price much more easily. In Europe alone you have over 20 nationalities looking to buy in 2023.
We are now at the bottom of the market so if you want to buy a property in Spain and are in a position to do so you should make it so.
So the simple question for all you would be property buyers in Spain out there is will 2023 be your year of regret or your year of ecstacy?
PRIME LOCATION AREAS HAVE PRICES RISING
Prime location areas in the best parts of Marbella and Puerto Banus have already seen price rises this year. To back this up I would like to give you 3 examples of clients who bought with me in 2012.
The first client placed his reservation deposit on 7 March for an apartment in Las Mimosas de Banus with a purchase price of 399,000€ now the lowest priced unit for sale in that development is 501,500€. So this client could now sell and make a profit including the buying costs as well.
The second client put his reservation deposit down in May 2012 on a 3 bedroom apartment in Playas del Duque, Puerto Banus for 600,000€ and now if you can find a 3 bed unit with sea views below 700,000€ you are doing amazingly well, some are closer to 800,000€
Finally the third client put their reservation deposit down in May 2012 in Marbella del Mar a frontline beach apartment in Marbella for an price of 420,000€ and once again you won’t find anything similar for under 500,000€
Please, Find below Marbella´s best developments:
Apartments complexes: Alhambra del Mar · Ancon Sierra · Benalus · Condado de Sierra Blanca · Coral Beach · Costa Nagüeles II · Coto Real · El Capricho · El Oasis Club · El Retiro de Nagüeles · El Tomillar de Nagüeles · Epic Marbella · Imara · La Joya · La Trinidad · Lagos de Sierra Blanca · Las Cañas Beach · Las Mariposas · Lomas del Rey · Marbella Hill Club · Marbella Real · Mansion Club · Marina Mariola · Monte Paraiso · Monte Paraiso Country Club · Montepiedra · Nazules · Jardines del Principe · Playa Esmeralda · Port Oasis · Puente Romano · Reserva de Sierra Blanca · Señorio de Marbella · senorio de vasari · Terrazas de las lomas de Marbella Club · Aldea Blanca · Alminar de Marbella · Aloha Gardens · Aloha Mirasierra · Alzambra · Alzambra Hill Club · Andalucia Garden Club · Azahara · Cerro Blanco · Corniche · El Dorado · Fuente Aloha · Jardines de Andalucia · Ivy Residence · Hotel del Golf · La Maestranza · La Medina de Banus · Las Alamandas · Las Brisas country club · Le Village · Los Arrayanes · Los Granados Golf · Lorcrigolf Malambo · Magna Marbella · Marbella River Garden · Señorio de Aloha · Señorio de Gozaga · Palacetes Los Belvederes · Vasari Resort · Vistas de Aloha · Vista Real · 9 Lions Residences
Townhouses developments: Arco Iris · La Virginia · Las Lomas del Marbella Club · Le Blanc · Marbella Senses · Marbellamar · Meisho Hills · Sierra Blanca del Mar · Vistas Marinas · Aloha Pueblo · Last Green · Los Jarales · Los Naranjos Country Club · Los Naranjos de Marbella · Los Potros · Peña Blanca
Villas developments: Altos de Puente Romano · Altos Reales · Casablanca · Cascada de Camojan · El Vicario · El Virrey de Nagüeles · La Carolina · Nagüeles · Rio Verde · Santa Margarita · Sierra Blanca · Torres de Marbella Club · Atalaya de Rio Verde · Parcelas de Golf · Lagomar · La Alzambra · La Cerquilla · La Pera · Los Olivos · Guadalmina Baja ·
Starting a Real Estate Agency in Marbella.
Today’s article focuses on the common types of businesses opened on the Costa del Sol and practical tips for success. By following these tips, you can ensure your business is successful from the very beginning.
Marbella’s market has become a magnet for investors from various countries. Perhaps, their home country’s markets are not appealing, or they find the prospect of doing business in this area intriguing. When clients approach investment plans, I often emphasize that Marbella offers opportunities.
Let’s get started!
What to consider when starting a real estate business in Marbella?
Marbella, one of Malaga and Spain’s most luxurious and exclusive cities, has become a popular destination for tourists with high purchasing power, business people, and entrepreneurs. While many have chosen to set up new businesses, navigating the process in Marbella or neighboring municipalities can be challenging for those from other countries and business cultures.
Tips for starting a Real Estate Agency in Marbella
Marbella is known for its distinct and diverse sectors, each with unique characteristics. However, setting up a business on the Costa del Sol can be challenging due to the high initial investment required, including the cost of land and commercial premises for sale or rent. It’s important to note that starting a business involves legal processes that cannot be completed overnight. Fulfilling all requirements is essential to prevent any legal issues with the authorities.
Helpful institutions for businesses in Marbella.
The Malaga Chamber of Commerce is a valuable resource for business inquiries. Obtaining necessary permits from the city council, such as an opening permit, is essential. Since many formalities are conducted in Spanish, it’s helpful to have advisors such as managers, lawyers, or translators to assist with the bureaucracy if needed.
Specialized institutions and agencies are available to find qualified business personnel in Marbella. Hotel schools like La Cónsula, Les Roches, and the Instituto de Bachillerato Sierra Blanca offer trained workers for the hospitality industry. For more general employment needs, SEPE and private agencies like Randstad can provide talented candidates.
Setting Up a Spanish S.L..
To be precise, Limited Liability Enterprises (S.L.) constitute a substantial portion of the total number of companies in Spain, second only to self-employed individuals. Currently, approximately 1.2 million active limited companies are operating in Spain.
The process of incorporating the limited liability company has been successfully finalized.
LuxuryForSale.Properties Real Estate.
The most common question we encounter while guiding customers through the real estate buying process on the Costa del Sol is whether they are interested in purchasing a new development home or a resale property. Regardless of their preference, we address this crucial aspect in our discussions.
If you like to discuss this article further or need any help in taking advantage of the market in 2023 please contact us at LuxuryForSale.Properties