2019 has started strong with a noticeable shift in Marbella sales as the UK market looks less appealing for investment as the looming date of March 29th approaches. Investors are seeing a steady increase in the Marbella house prices with the average price per meter increasing by over 2.5% in the last year. Whereas in London the housing market has stalled for the first time in 8 years. New figures from the Office of National Statistics show that the London bubble has finally burst, with a decline in 2018 of nearly half a percent in the value of London properties. However this is due to increase with 15% decline expected throughout the rest of 2019. With trade agreements anticipated to take as long as a further two years to be confirmed, the property market will no doubt continue to fluctuate.
But where does this leave investors?
Since the onset of the global financial crisis in 2008 and the uncertainty of many sluggish European economies, the general public are less likely to invest their savings into unpredictable markets. However the international housing market still seems to be a safe bet and a stable source of investment.
The recent boost to the Marbella real estate market has been associated firstly with the British residents wishing to escape the negative doom and gloom that has been a constant cause of concern for over three years now. However the previous British influx has been taken over by the Scandinavians who are flocking to Marbella for very different reason.
With the house prices in Sweden rising by a dramatic 50% in the last five years, the ability to up size their principal home has become more difficult in recent years. Therefore the opportunity to buy a second home in the warmer climates of Spain has become more appealing to the Northern Europeans.
As a consequence of these factors the housing marketing in and around Marbella continues to hold a positive future for 2019 and beyond.