The data recently released by the Ministry of Housing for Marbella confirmed the general tendency of 2015, the number of operations per year has recovered its pre-crisis values. As can be seen on the chart, the upward tendency observed in the last years has continued in 2015 with new increases in the number of units sold.
Although we are not yet in a buyers market, if the numbers keep on going up this way, we may see the change in 2016 or 2017.
On the other hand, in Benahavis, although the results for the year 2015 were quite good, the numbers confirmed what I had already perceived at street level, the fourth quarter was not that thrilling. In fact, it has been the worst fourth quarter since 2011. I do not have a clear reason for that except for the usual up and downs of the market or the uncertainties of the European economy but we will see on the first quarter of 2016 if it is just a temporary situation or if we have to worry again because the market will take some more time to be consolidated.
Furthermore, I think that that information for the first quarter of 2016 to be released at the beginning of June will give us a clear insight about how the problems we are having with the planning permission of Marbella, the political instability in Spain or the recent terrorist attacks in Europe may affect the market. Time will tell but the comments I am receiving from my north European clients are, in a way, neutral in the sense that they are not perceiving the negativities I just mentioned.