There has been a somewhat shockling revelation in the Marbella property market, that the Mayoress, Angeles Muñoz is using to demonstrate that this area will be the first out of the protracted recession that has plagued the market here for a number of years. An earlier post here on the blog discussed the consequences of getting her far reaching plan approved, helping build the credibilty of Marbella internationally.
The figures she is using directly from the tax office show that there are actually more people buying real estate in the area over the first quarter of 2010 than for the same period in the last four years, which is just before the infamous "Malaya" corruption case came to a head. Apparently there have been 2499 sales within the area within the first quarter of this year, compare the figures produced in the previous four years
Q1 2010 - 2499
Q1 2009 - 820
Q1 2008 - 1263
Q1 2007 - 1602
Q1 2006 - 1224
Ecouraging as this may be I do find it hard to believe that there has been such a massive increase, however if these are the figures from the tax office, rather than the the usual estate agent inflated figures then they have a good chance of being accurate. We have seen an increase in overall enquires, but they have been mostly for luxury property for sale in Marbella.
The economy in Spain and particularly in the Costa Del Sol is still extremely fragile with unemployment figures continuing to spiral, so this blast of decent economic data relating to housing is definitely welcomed.
