Rise in Spanish house hunters looking west of Marbella

Enquiries for properties in Estepona and the Duquesa from Spanish buyers are up 187% this year so far compared to 2014, according to Estepona based real estate company Genius Properties.

Managing Director of Genius Properties, Neil Parsons says: ‘being a multi- language speaking agency we see a massive amount of enquiries from foreigners, but in the first 6 months of this year we’ve seen numbers of enquiries from Spanish buyers almost double.

They are predominantly looking for 2 – 3 bed apartments near the town and near the beach, which is exactly what the whole of Estepona offers.’

As other areas on the coast become overcrowded and to commercialised and buyers are forced to search for property more ‘mountain side of the N340,’ the savvy Spanish buyer looks towards Estepona and surrounding areas.

Neil says that buyers are now looking West where there is an ‘excellent price-quality-living standard ratio compared to the other properties generally available elsewhere on the Coast’.

Property sales in Malaga Province rose 14% in July compared to last year, according to Spanish daily Sur quoting official figures.

Earlier this week, Bloomberg reported Spanish house prices jumped the most on record in the second-quarter, ‘strengthening the foundations of the country’s economic recovery.’

‘Housing rose 4.2 percent in the quarter compared with a 0.6 percent contraction in the previous three months, according to data released by Spain’s National Statistics.’

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