subject: Understanding The Costa Del Sol Property Market [print this page] So is now the right time to buy property for sale in Costa? With so many conflicting articles and opinions on the matter so a would be first time property buyer looking at Marbella property here in Costa del Sol could easily be confused so whose opinion should the buyer trust?
At the end of the day you have to make your own decision in this article I hope to give you some good reasons to buy property here in Costa del Sol and actual facts to back it up. I hope this will help you make a more and better informed decision.
Let's actually start with the number one fact and reason that you would want to buy that Elviria apartment or Villa in Marbella now. The simple reason is the cost of construction hasn't fallen anywhere near the cost of property for sale in Spain. What this means in reality is that it is now cheaper to buy a property than you could build it for. Just to give you an example of this I built my own house on rustic land in Alhaurin el Grande between 2003 and 2005 and even back then to the quality we wanted the cost of the build worked out at 1500.00 per square meter and didn't include the cost of land or any infrastructure. Now you compare that with what you can buy properties for i.e. under 2000.00 a square meter and you can see that in reality you are buying at less than costs.
Take a look at some of the best deals that have nearly all gone and the developer on instruction from the banks is selling for the outstanding mortgage plus selling costs. This represents at least 30% off the original price and in reality if you were building it now you wouldn't make a profit on the price you are paying.
Another fact which some like to dispute is the very best deals were bought in 2009 when the most distressed were available and the people with vision and hindsight picked up some amazing deals. There is still a window of opportunity for buyers to get high quality value for money but they do need to act quickly.
So if you would like to buy property for sale in Marbella I would strongly suggest you do it within the next six months as the truth is that the best deals are being snapped up on a weekly basis.
