Now is time to invest in Marbella Property Market
It’s has been a good summer for Marbella with economic recovery in full swing. For the first summer in years, Spain was able to enjoy the heat in the knowledge that the economic recovery that started earlier has now evolved into sustainable growth. The economic crisis originally hit hard, but according to the country’s central bank, the recovery is now continuing to speed up
The Bank of Spain was confident enough to announce this year’s economic growth would be 2.8%, double last year’s figure. This prediction would make Spain, the Eurozone’s fourth-biggest economy, also its fifth fastest-growing.
In a recent article, UK newspaper The Guardian explored exactly how the Spanish economy was making its impressive comeback.
Spanish house prices rose for the first time in six years during 2014, up 1.8%. It’s also good news for the construction industry as the banks begin to invest in the completion of unfinished properties across the country. The Bank of Spain has further said that the unemployment rate should continue to drop steadily throughout the year, as it has been doing for some time now.
Quoted in the Guardian’s article, Díaz-Giménez of Madrid’s IESE Business School believes the nation’s recovery is real and says Spanish companies have been creating jobs at a rate of over 400,000 a year.
Job creation and a healthy financial and residential sector mean that it’s not just the tourists who are going to have a good summer in places like Marbella. People now have a little more disposable income thanks to the rising unemployment figures, businesses are busy, house prices are on the rise, construction is in full swing, banks recapitalised, distressed assets are being sold to investors and borrowing rates are at a low. There is still some work to be done but Spain is on the right track and it looks like we are going to be seeing a lot more of this positivity in the future.
You can read more of the Guardian’s article here.