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It seems that when property buyers from all accross Northern Europe choose to buy a property in Spain, almost a quarter of them used to decide to buy in the Autonomous Region of Valencia.

But that seems to have changed recently as foreigners are leaving the Valencian market in droves, according to a recent article on Levante-emv.com.  The article shows that new figures from the Valencian College of Notaries (a service one must use to transfer deeds) home sales to non-residents plummeted by 44% in 2009, whilst sales by foreigners leaving the Valencian region accended by 45%.  To surmise; last year there 4,291 foreign vendors, compared to 2,939 the year before and 5,631 foreign buyers compared to 10,040 the year before.

Remember that there are a lot of properties on the market that may not have sold so they wouldn’t have entered in the College of Notaries figures.  Spain as a whole dropped 21% last year.  This obviously affects the Valencian region more than any other and could in part be due to bad press concerning Valencian property laws where they can appropriate ones property or part of one’s property to build urbanisations or multi-dwellings.  Understandable that people are reticent to invest.

This all bodes well for Marbella and Costa del Sol Properties where, although property sales have dropped in numbers, there is now a slow increase as foreign investors are purchasing bargain properties at hugely discounted rates.
We at PropertyPointMarbella think time to invest some money is now.

For more information on bargain properties please visit: http://www.propertypointmarbella.com

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