Estate Agents Costa Blanca
This is the new real estate market of the Spanish Mediterranean Coast
Spain has become one of the most attractive countries for foreign real estate investment for the excellent value for money.
The residential showcase of the coastline was, undoubtedly, one of the great victims of the puncture of the bubble. Prices fell in many areas above 50%, or even 60%, and the bulk stock hit this sector during the post-boom years.
Today the housing market on the coast has fully recovered and is, together with the big cities, is the great standard of recovery. Especially, the Mediterranean arc where prices rise to 6.4%.
Causes of housing market recovery.
The resurgence of the market on the coast is, according to experts, based on the incipient economic recovery and the return of the national buyer. But, above all, in the foreign plaintiff, which stars in a high number of purchases. This burgeoning demand usually shies away from the stock of the bubble and seeks a new product, still scarce, which stresses prices.
Market still affordable despite rises.
However, the sharp rise in prices does not yet translate into an unaffordable market. Quite the opposite. The current situation responds to the typical rebound after a deep adjustment and prices are still well below those of a decade ago. Houses on the Mediterranean coast cost 45.5% less than in 2007.
A unique moment to buy in Costa Blanca.
The coast market lives the best moment that is remembered in years. And the recovery of the residential-vacation segment is being favored by the improvement of domestic and foreign tourism and is also accompanied by the recovery of the economy, the reactivation of mortgage credit and the improvement of the employment situation.