Over the period of 2009 property prices across the Eurozone dropped by 4.6 percent. According to the Financial Times Eurozone index, property prices in Britain, Spain, France and Germany rose during the fourth quarter of 2009. The three countries hardest hit by the downturn during 2009 were Ireland, Iceland and Slovakia.
In the micro climate property market of Marbella and the Costa del Sol, property prices have now steadied. The more savvy property purchasers are aware of the recent approval of the new Town Hall Urban Plan (PGOU) and know this will legalise many of the developments which had left the area in limbo for the past few years.
Here at Property Point Marbella we have noticed a marked increased in the number of serious purchasers now visiting the coast. Many of these have expressed that for the past few years, due to the uncertainty of the building licences in the area they have been waiting patiently to make their move and feel now is the time to snap up those property bargains.
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