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Marked difference seen between domestic and UK buyers

HIGH AWARENESS: There was a lot of interest in buy-to-let properties. HIGH AWARENESS: There was a lot of interest in buy-to-let properties. shutterstock.com

MANY property exhibitions are taking place in Europe and further afield ahead of the summer season.
They offer an opportunity to get a different perspective on the Spanish property market by talking to buyers and finding out first-hand their perceptions of the Costa del Sol, their interest in property, budgets and readiness to buy.
Real Estate agents RE/MAX Top, with offices in Marbella and Malaga, have recently been at both A Place In The Sun Live in London and SIMA in Madrid, and are preparing for SITEP in Paris. They reported a marked difference between London and Madrid, which reflects the renewed buoyancy in the UK property market and strong pound. However, they also saw signs of recovery in the domestic Spanish market, with less people attending SIMA in Madrid.
However, those that did attend were serious buyers with cash to spend, who are looking to purchase in the near future. In Madrid and London the budgets were similar, around €150-200,000, the difference between the two was the volume of buyers and also their interest in the Costa del Sol. In Madrid, the preference was for the Costa Blanca due to the proximity, whereas in London, the popularity of the Costa del Sol was very strong.
Charlotte Way from the Marbella office who attended the London exhibition commented: “It was great to see a high awareness that the market was picking up and this was the time to buy. There was a lot of interest in buy-to-let and everyone knew about rental potential and saw it as a great long-term investment. Estepona was very popular after being featured on A Place In The Sun, so we were able to discuss this and other areas. Our advice was to come and visit with an experienced local real estate agent so you can get the best advice and a feel for it yourself. The most popular areas East of Malaga were Nerja, Rincon de la Victoria, Torrox, Velez Malaga and Torre del Mar and we’re now searching for more quality properties in those areas.”
For more information on buying property in Spain, or if you wish to list your property with RE/MAX Top email [email protected] or call 952 906 201.

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