All key market indicators are starting to display positive signs of improvement in the Spanish residential property market. Specific micro markets that are predominantly fuelled by international investment are seeing far more marked levels of improvement.
On a national level there was a 28.4% increase in the number of foreign and non-resident buyers of Spanish property in 2012. In the final quarter of 2012 alone, overseas investors spent €1.8 billion, up by 56% compared with 2011, and by 92% compared with 2010.
Levels of oversupply in the primary micro markets of the Mediterranean coastline such as the Costa del Sol, Malaga and Marbella are starting to disseminate. The level of free (uninhabited) completed housing in Malaga province in 2012 stood at 3,094 a significant reduction from the 35,784 homes reported in 2006.
Marbella, the provinces premium real estate market has seen a vast increase in the level of residential property sales recently, the volume of property sales on the “Golden Triangle” (Marbella, Benahavis & Estepona) increased by 21.1% in 2012 with consistent growth in 2013 to date.