2009 continues to be characterized by a general and continuous descend of Marbella´s Property Prices. The market is responding and property sales are picking up, however rentals and rentals with the option to buy continue to be the most demanded products.
Marbella offers now the lowest property prices since the last four years. Indeed, the average price per square meter built has gone down from 3353 € in July 2005 to 2653 € in March of 2009.
The reality is that due to the fact that other European Economies such as the British, which generated many Marbella Home owners in the past, are not doing well, these owners are now often forced to sell there second home in Marbella. Therefore it is the right time now to make real bargains at average prices per square meter built ranging between €1500 and € 2000. These Bargains are driving the property market.
Even brand new luxury property in Marbella prime locations, can now be bought 25%-30% cheaper than one year ago. Such as the following properties:
Marbella´s Urbanistic Plan-PGOU-is to be approved provisionally on the 29th of July 2009, which will start bringing Juridical tranquillity to owners and future home buyers.
Combined with the fact that Marbella is one of the best areas in Europe to live because its quality of life, the planned investment of linking the City to the High Speed Train in three years time, the many improvements that are being made at the moment to the City and the myriad of International Events (such as the Davis Cup) taking place, will without any doubt put the City Back on investors agenda.
However, the right time to invest is now!