According to Premier Marbella news sources, the Villa Padierna Palace welcomes from the 28th to the 31 st of May, the Marbella International Property Show an exclusive property showcase for foreign investors in the “Golden Triangle” (Marbella, Marbella, Estepona). Continue reading
The great grandson of the founder of the business magazine Forbes, Miguel Forbes, considers it a good time for foreign investors to buy into the Spanish real estate market. “Valuations are low in real estate, as are stocks and other private businesses, it’s time to buy,” he said in a presentation of Forbes magazine in Spain and he is confident that by landing the magazine in our country it will better serve in understanding the recipe for success of millionaire entrepreneurs such as Amancio Ortega, founder of Inditex group, occupying the third position on the annual list of the richest people in the world.
The Spanish property market has not yet recovered from the bursting of the housing bubble and prices have continued to fall across the country. Most of the interest generated in the property market is targeted at properties that have problems or buyers who bring cash. In an economy that seeks to overcome the economic crisis and where the price drop of real estate has never been more significant ‘cash definitely seems to be the king’. Tourism is helping to attract foreign investment more than ever and in 2012 the number of tourists visiting Spain was up a million on the previous year.
Although property prices have been falling, the demand for Spanish properties from abroad remains buoyant. The fact that buyers can now purchase high quality assets at prices considerably cheaper has attracted much interest from those looking to buy a second home in the country. Buyers with money have also shown great interest in finding a way to take advantage of some truly exquisite properties at incredible prices.
With the imminent increase in VAT to 10 % on new residential properties programmed to take effect from the 1st of January 2013, it is anticipated that the best property deals in the coming year will be from the individual vendors. With the mounting social pressure against evictions, bank inflexibility and the dramatic reduction in mortgage concessions, motivated sellers of the so called ‘Distressed Properties’ in the Marbella area will have opportunity on their side. Premier Property International can put at your disposal a selection of these heavily discounted properties.