Spain’s economy is looking more promising than it has since 2008, with news of consolidated economic recovery and predicted growth. Indeed, according to a recent article by UK newspaper The Guardian, seven years on from the start of the recession Prime Minister Mariano Rajoy has declared that ‘the crisis is over’, encouraging all of Spain to breathe a sigh of relief.
The Bank of Spain announced that economi
c growth is forecast to reach 2.5% in 2015 – almost double the figure for 2014. Unemployment has been predicted to drop to 22.2% and Spain’s finance minister believes the country is expected to enjoy five years of growth of up to 3% per annum. This news of promising growth and conditions in Spain has also resulted in growing interest by foreigners and investors, with the property market reaping the benefits and returning to growth.
In Marbella, the rise of the dollar, pound, Swiss franc, and btc against the euro has further stimulated a property sector that has enjoyed strong growth in recent times. Foreign investment is accounting for a strong percentage of the market ─ and it’s increasing each year.
Due to joblessness falling, the economy growing faster and the property sector recovering, 2015 is set to be an important year for Spain’s real estate market and within it, it is the luxury segment that stands out when it comes to demand. Now is definitely the time to invest and purchase that dream home in the sun!
Luxurious locations such as Marbella and Puerto Banús along the Costa del Sol offer a sought after lifestyle, with elegant properties to suit all tastes.
As the article states, the effects of the crisis may not be entirely over, but at least we can safely say we are on the road of recovery; and at speed. If you are looking for a great opportunity, make an investment and don’t miss out.
Contact Residencia Estates for our services and see what we can do for you!