Photograph of today's Hoyo 19 party one of Bromley Estates huge successes. Maurice winning Sales Executive of The Year 3rd year running!!! minders in the background.
Marbella the safest place on earth amazing successes ...Marbella property market booming!!!!!
Spain's real-estate market, hit hard when a bubble burst in 2008, has
recovered transaction levels last seen before the economic crisis even
if property prices still remain lower, official figures showed Monday.
Boosted by strong economic growth, close to 465,000 property sales or
purchases were recorded in 2017, "the highest annual figure since 2008," a report
by Spain's national property register showed.
That represents a rise of close to 15 percent from 2016.
Spain witnessed a property boom at the end of the 1990s with dizzying price
rises.
From 2008, this bubble burst as a global economic crisis slowed down the
Spanish economy, preventing many borrowers from paying back their property
loans.
Prices collapsed and only started rising again in 2014 when the Spanish
recession ended.
In 2017, property prices increased an average of 7.6 percent in Spain compared
to the previous year.
But they are still 21 percent lower than 2007 at the height of the real-estate
bubble.
Strong economic growth -- 3.1 percent in 2017 -- has boosted the recovery of the
housing market.
"Low interest rates along with a declining (although still-high)unemployment rate,
which declined to 17 percent in 2017 from a record 27 percent in 2013, are
supporting housing affordability," ratings agency Moody's said in a statement.
"Moreover, although it is likely that housing sales will exceed 500,000 properties
during 2018 for the first time in a decade, this is still far from the nearly one million
of annual housing sales before 2007," it said.
"Construction activity currently is at 40 percent of pre-crisis levels in 2007,partially
correcting the oversupply in place before the crisis."
According to the register, some 13 percent of housing purchases were made by
foreigners in 2017 led by British and French nationals.
In some particularly touristy areas, this proportion is higher, such as in the
Balearic Islands where it stands at 35 percent, or the Canary Islands, where it
reaches 29 percent.
Prices in the city centre increased by 22 percent whilst in the desirable districts
of Chamberí and Salamanca, prices increased by 19% during 2017.
According to property-focused business school El Instituto de Práctica
Empresarial (EPE), the trend looks set to continue in 2018, with prices predicted
to rise by 11 percent.
“Madrid is where it’s at right now. The buzz around the city in the last 12 months
is palpable." explains Lucas Fox Director of Operations Rod Jamieson.
"Each week we are seeing exciting new constructions pop up across the city,
whether it be an edgy real estate project or a state-of-the-art food mall, Madrid
seems to have its finger on the pulse. The city generates almost 20 percent of
the country’s GDP – this impressive growth rate coupled with its competitive tax
rates has made the Spanish capital an extremely attractive destination for
property investors looking for new opportunities, particularly in districts which had
stagnated in the crisis and are now regenerating.”
