Market Overview

As we wrap up 2010, we can take a little time to look back over the past year. The Spanish property market has definitely fought back from 2009, and although it hasn't been a walk in the park, at long last there is movement in the real estate market. A lot of this movement is powered by bargain hunters looking to snap up deals on properties that have been dramatically reduced in price.

So what about the more traditional buyer profile on the Costa del Sol: people looking for a holiday home or an investment property? With over a million web searches a month Spain is the number 1 holiday destination for the UK. Add to it Andalusia's current push for tourism and you can quite clearly see why the market is continuing to recover.

The third quarter statistics show an increase of property sales by 12.9% in comparison to the previous quarter, which completes three consecutive quarters of growth. In terms of year on year comparisons, 2010 shows a modest recovery compared to the record lows of 2009: twenty-seven Spanish provinces showed positive growth figures, with some provinces showing over 30% growth. Most of the coastal provinces, which were especially hard-hit during the downward cycle, also show a moderate recovery in property sales.

Statistics taken from: Real Estate Statistics Register

Marbella to legalise first 1,000 illegal homes in town

Marbella City Council has announced it will legalised around a thousand houses before the end of 2010, in the process of "adjustment through compensation" determined under the new General Urban Plan (PGOU). The plan is for the promotors and builders of these illegal homes to compensate the city, via cash or land, for the "excesses carried out" in constructing the homes without permission. There are almost 17,000 illegal homes being studied for legalisation in the town.

The Town Planning Officer, Pablo Moro (PP), has said in a press conference that before the end of the year the townhall is expected to approve a dozen orders that will legalise a thousand homes and that the process "marks the beginning of the road to compensate the city through the acquisition of land for facilities. "

Source of article: Almeria Property Talk

What's in store for the Euro?

Well the volatility of the currency markets in 2010 has certainly been the cause of a few nervous breakdowns this year. Until the eurozone debt crisis reignited at the start of October, sterling had been rapidly losing ground to a dominant euro, Then in September, when the Bank of England began to make noises about cranking up the printing presses again with more quantitative easing, sterling dropped back from just below €1.24 to levels as low as €1.12.

But recent strong data for the UK economy, (which quashed the threat of more quantitative easing for
now), the Ireland bailout and the fear of Eurozone 'contagion' has seen the pound recover to its current level, even briefly popping its head above the €1.19 parapet.

With less than 12 shopping days remaining until Christmas I don't expect much movement in the rate before the end of the year. I do however; have high aspirations for sterling going in to 2011.

The pound should continue to outperform the Euro next year, and I'm targeting the lofty heights of 1.25/1.30 by year end.

Now I can practically hear all the sharp intakes of breath from the doubting Thomases amongst you who have just read that last sentence and are shaking your heads in disagreement but let us not forget:

· The UK economy is set to grow by around 2.5 % whereas the eurozone will, at its very best, be flat.

· Italy & Spain need to raise a staggering 600 Billion in the bond markets!

· Germany, the economic driver and growth engine of Europe, is set to watch its growth dip to 1.2%

· And above all else, the UK has the ability to set its own monetary policy!

All in all 2011 is looking like it could be critical to the very survival of the euro. I don't doubt for a moment that the Euro will remain intact; but it certainly has some very difficult days ahead.

Source of article: Currency Direct

Statistics

The sample below looks at apartments and villas in the ten most expensive areas based on two factors:

· The average listed sale price

· The average price per square meter

These figures are not sales figures, simply an average of the currently listed properties.

Villas		Apartments
Location Average Listed Price La Zagaleta € 6,285,000 Guadalmina Baja € 4,112,051 The Golden Mile € 4,067,100 Sierra Blanca € 3,715,080 Bahía de Marbella € 3,601,286 Los Monteros € 3,353,146 Los Flamingos € 3,128,321 Las Brisas € 2,613,000 Benahavís € 2,454,050 El Madroñal € 2,404,200		Location Average Listed Price Sierra Blanca € 1,079,004 Puerto Banús € 1,036,542 The Golden Mile € 1,025,469 Los Monteros € 811,402 Sotogrande Marina € 674,552 New Golden Mile € 641,192 Guadalmina Baja € 639,811 Bahia de Marbella € 611,978 Sotogrande Alto € 604,364 Nagüeles € 558,823
Villas		Apartments
Location Average Price per m² Los Monteros € 5,915 La Zagaleta € 5,874 The Golden Mile € 5,804 Puerto Banús € 5,730 Bahía de Marbella € 5,684 Guadalmina Baja € 5,533 Sierra Blanca € 5,241 Las Brisas € 5,171 Los Flamingos € 4,925 La Quinta € 4,899		Location Average Price per m² Puerto Banús € 5,614 Sierra Blanca € 5,269 The Golden Mile € 5,127 Los Monteros € 4,454 New Golden Mile € 4,107 Sotogrande Marina € 4,058 Bahia de Marbella € 4,048 Sotogrande Playa € 3,983 Guadalmina Baja € 3,839 Marbella € 3,834

Source of article: Resales Online