Maskells recently announced that we are now able to offer luxury property in the prime Spanish hotspots of Marbella, Benahavis and the Balearic Islands.
Maskells has teamed up with Graham & Associates, a fellow leading property firm and chartered surveyors, based in Spain bringing more than 30 years of experience to the alliance. Together the two companies are selling high end individual villas and apartments in the most desirable locations across these key prime markets.
John Graham at Graham & Associates comments: “Recent UK tax changes are about to alter the dynamics, in favour of the Marbella and Costa del Sol property market. UK buyers are the biggest buyer of Spanish property, surging 81 per cent in 2015 compared to 2014 purchases.
The Costa del Sol offers an excellent supply of properties, ranging from apartments for around €200.000 to some of the best luxury villas in Europe from around €2 to €8m, and prices here are now stable and rising. Compare the cost of luxury properties on the Golden Mile Marbella to luxury property prices in Mayfair London and the luxury properties on the Golden Mile look fantastic value for money, especially when taking into account the strong exchange rate of the pound to the euro.
New controls on letting property on the Costa del Sol will bring the rental industry more in line with the UK system making it more attractive for UK investors. The forecast for 2016 looks like another record year, important statistics for buy-to-let property investors looking for yields similar to the UK.”
Merton Crosidale-Appleby, Director of Sales at Maskells comments: “This is a well-timed, strategic move and a very exciting prospect for us. Spain is currently the third largest tourist destination in the world, with a forecast of 70 million people visiting this year alone. Of the 46,000 Spanish properties purchased in 2015, the British rank as number one buyers at 24 per cent coming from the UK, 9 per cent French buyers, 7 per cent German buyers, 6 per cent Swedish buyers and surprisingly Russian buyers down 43 per cent. During Q1 of 2016, 1,000 luxury properties have been sold in Marbella, which represents a 50% increase on last year.
Transactions are now back to pre-crisis levels with property sales increasing year on year for the past three years. Prices have bottomed out and now increasing throughout Spain, with a forecast of an average of 6% this year, and far higher percentages in locations such as Marbella and Ibiza. Prices are still 40% below those in 2007 and borrowing levels are extremely low. Like all markets there are the good the bad and the ugly; with an acute shortage of top quality properties, our intention is to select and offer only the best available at the most competitive prices in the finest locations.”
VIEW: MASKELLS PROPERTIES FOR SALE IN SPAIN