With 2008 drawing to a close and 2009 fast approaching we’ve taken a look at the current property market on the Costa del Sol and what lies ahead for next year.The current exchange rate fundamentally means that anyone from Britain looking to buy in Europe will find it hard to find a bargain compared relatively to 12 months ago when the exchange rate was much more favorable. However despite the depressing state of sterling value compared to the Euro there are still some great value properties to be found in Spain and in particular the Costa del Sol region.
As with many popular property markets the Costa del Sol has become somewhat saturated with newly built villas, townhouses and apartments built to appeal to the vast numbers of Britons looking to buy a second property in the south of Spain. The increased value of the Euro against Sterling also means that owners of Spanish property looking to move back to the UK can accept a lower price in Euros. There are also large investment and fund groups that are looking to buy property developments in the Costa del Sol, which should result in lower prices for property buyers in Spain.
So despite the negative outlook for the economy during 2009 it certainly shouldn’t make a major impact on the property market in the South of Spain, particularly in the Costa del Sol region where there is no shortage of property.
