Team Group Property Magazine Spring 2016
According to Government figures from the Ministerio de Fomento there have been almost 100% more resale properties (as opposed to new build) signed in Nerja for the period January to September 2015 versus the same period in 2012 – 464 sales versus 235 sales. Compared to 2014 for the same period sales have increased by 42%. There is no doubt that the region’s property market is on the move.
So what effect does this have on the market? Research is telling us that Nerja is one of only a handful of regions along the Costa del Sol experiencing an increase in both sales and sales values, having said that we have not seen a massive increase in asking prices but we continue to see offer prices improving throughout the year. The most recent 4 sales agreed in December on average were 6% below asking price, in some cases, throughout the year we have sold for the asking price. In 2014 on average accepted offers were circa 10% below asking, so the market in and around Nerja continues to improve.
The downside, if there is one, is that some vendors have been over enthusiastic in setting their price, in the belief that the market has recovered. The market is still very price sensitive albeit improving. If a property type is priced well above other similar properties on our register then the likelihood is that the vendor will have a long wait before the journey to the Notary.
In terms of receiving enquiries via our web site, office foot fall and advertising our busiest weeks of the year were weeks 43 / 19 October followed by Week 2 / 5 January when we talked to no less than 70 new buyers. Easter, a traditionally busy time was also strong with some 22 new buyers viewing over the weekend. In 2015 we had sold more property by the end of July than we had the entire prior year and we have seen more enquiries coming in from our brand new web sites, www.teamespana. com, www.inland-property.com and our Scandinavian site www.fastigheternerja.se where we have started to feature floor plans, exact google references and some properties with 360 degree tours.
Where are our buyers from? British and Scandinavian markets represent the majority of buyers, most seeking second homes who, in many cases, wish to holiday rent with our sister company Teamstar Holiday Rentals. So what of rentals? In short our rental business remains very strong and thankfully has done throughout the last challenging 8 years. After a traditionally strong first half, our year end rental business is circa +23% over 2014. Our portfolio of properties is now just under 200, the majority of owners being Scandinavian, most of whom buy into our philosophy of providing excellently presented properties at a competitive price. Our most expensive villa was available for E3,000 per week and our most competitively priced apartment was E350 per week ( high season prices ). Perhaps not surprisingly our most popular villa was on Calle Carabeo with glorious sea views, our most popular apartment was also in Carabeo very close to Carabeo beach. Whilst never complacent the feedback from our holidaymakers makes all the hard work delivered by our rentals team worthwhile with no less than 95.5% saying they would recommend us, 89% thought we offered real value for money and 89% told us our staff were very helpful. An excellent result, we like to think, given our reservations team handle in excess of 3,000 bookings per year ( source: Survey Monkey). Our network of global agents remain an important factor providing us with a wide range of holidaymaker nationalities helping to fill properties throughout the year and in doing so makes us less dependent on any specific country`s school holidays.
If you would like more information about selling, renting your property or booking a holiday rental please contact any member of our team.
Back to news headlines Date: 24 December 2015