Prices in Marbella may be at the bottom

If you remember me commenting some months ago: “Every three months we get the information from the Ministry of Housing expecting that the fall of the housing prices in the area will end and that we will get to the inflexion point and stabilization, and, maybe, increases. However, and again, it has not been this quarter“. If we take a look to the figures, we may have reached that lowest point. At least in Marbella.

Those are really good news. Although I imagine that the situation will not improve for a while, seems that it is not going for worse and that is for itself a lot. Buyers may start to see that prices will not drop anymore and may, finally, take the decision to buy and, therefore, normalize the market.

I can not say the same about Estepona where the prices are still falling. We have seen the same effect in previous quarters. The owners of properties in Estepona have to reduce their prices much more in order to compete with the every day more competitive prices of Marbella. The gap is still every month wider.

The Ministry does not provide information for Benahavis but it is in the middle but closer to Marbella. The prices won’t be stable but with a soft downward tendency.