Property Market update
October 15, 2009 - Posted in Marketing, Property
It has been some time since I have posted anything on this blog.  I can make all the usual excuses and apart from laziness the truth is that the business has been exceptionally busy and I have been running backwards and forwards to the UK to tend to my father who has had a stroke and is now in a nursing home.
The fact that we have been so busy throughout the summer months is encouraging. For the business August was the best month we have seen for some time.  Buyers seem to be recognising that property is now great value for money and many to whom I have spoken seem to feel happier having their money in property than in the bank! I cant say that I blame them.
Sales levels are considerably up on last year and we are seeing activity spreading into all sectors of the market. We actually sold more Villas during August and September than during the whole of 2008!
I suspect that prices may now be bottoming out and there seem to be fewer distressed sales than there were previously. The market is still obviously fragile and believe that prices will be on a plateau for the foreseeable future. Overall though it is a healthy situation and buyers still have plenty of time to find their ideal property at a sensible price.
We are still having problems with the banks many of which are reluctant to lend and seem to be using delaying tactics. Hopefully their situation will ease over time but for the present the cash buyer is certainly king!
We are actively seeking new properties to sell and are in the process of launching new marketing initiatives to build our property portfolio further. Any one interest in selling on the Costa del sol is welcome to call me at the Puerto Banus Office and I will be happy to discuss your individual case. In the meantime you may like to have a look at our promotional video :  Michael Moon – Selling your property on the costa del Sol
Until next time
Michael