Spain's property market boosted by The Times

Spain's property market boosted by The Times

A recent article by property correspondent Rebecca O'Connor appeared in The Times ("New generation of Britons warms to a life of sun, sea, sand and Spain", The Times Saturday April 10th 2010) recently and predicted an upswing in Spanish property sales.

O'Connor states that, "villas and apartments on the Spanish Costas are suddenly hot property again as Britain's second-home buyers rediscover the attractions of life in southern Spain."

Attributing this recent rush of enthusiasm to a number of factors ranging from last winter's unusually harsh weather to Spanish property prices falling by up to 50 per cent, O'Connor identified a new generation of settlers. According to the article this latest influx of immigrants consists largely of executives with families who plan to spend an average of 60 days per year in Spain. This shift away from the more traditional retirees market is good news for Marbella developers, who are operating in an area with the best ex-pat facilities in Spain.

While the attractions of Andaluca's inland areas have proved attractive to an increasing number of immigrants, seduced by the promise of a Driving Over Lemons' rural idyll, Marbella has more than held its own as a prime attraction. With shops, schools, bars, restaurants and cinemas all aimed specifically at British residents, this part of the Costa del Sol expanded during the boom years and, even now, supports a thriving British and Irish community.

Rebecca O'Connor quoted the case of an international developer that resumed work in the Marbella area in March this year after a three-year gap. A spokesman likened the city to the South-East of England, stating, "It was not a volume market and didn't suffer the same over-development as other areas. Prices, therefore, did not fall as much as in other parts of Spain."

Perhaps the most heartening aspect of this article was the observation that the search engines of Marbella-based property companies were showing definite signs of renewed activity, with a distinct increase in the number of enquiries.

Michael Liggan of Altavista Property Spain (www.altavistaspain.com) says, "This piece in The Times is a completely accurate reflection of the trends that we have also noted. Buyers are more inclined to have young families, rather than being retirees and therefore have different expectations of the whole Spanish experience."

He added, "We are very lucky to live in a place with an ideal climate and excellent infrastructure and facilities. It's not surprising that a new generation of property buyers are discovering that Marbella is a great place to live."

www.altavistaspain.com

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