On the Costa del Sol we have been seeing a number of tall cranes beginning to move and not just from Taylor Wimpey. Developers are announcing bold plans and there is a general air of confidence around. Only in the best locations though and it will be a long time before anything new is developed amongst the still now crumbling empty urbanisations on the fringes.
Having said that, we know of a developer who has taken on a secondary location, genuinely spruced it up and moved it up market, and who now has largely sold out and is looking to do the same for a neighbouring currently empty development. And somewhat defying reason, there are many prime residential sites being bought by individuals intending to build their own ‘ego’ property. These in areas where they will be surrounded by villas that have been being offered for sale for years, with prices now well below the building costs of the quality properties they are. Hey ho, it just adds to the mix that a valuer has to somehow make sense of.
Response to an article by Spanish Insight Property.