What has been happening in the property market locally across Orgiva, Lanjaron, The Alpujarra and Lecrin Valley?
We will have a look at the facts and figures across the local markets and then we can look at some interesting numbers affecting this. Then we can take a look forward to what the rest of the year might hold.
First, let’s have a look at Orgiva Properties.
There were 90 available for sale last month with an average asking price of 259 527 euros, an average price per sqm of 1,442 euros. This shows a slight decrease e in the average asking price for the third month running, but this does not necessarily mean that prices are falling, it is quite normal for there to be changes like this especially as properties that have been overpriced for a long time start to adjust their prices to reflect market conditions. There are also some seasonal demand pressures in Orgiva, which are being reflected across the region at the moment. The average prices are often influenced more by the properties that remain on the market rather than those that have been selling quickly. We will look at this in a bit more detail in a moment.
Moving onto Lanjaron Property, there were 105 listed for sale with an average price of a little under 137,782 euros or 1719 per square meter. This is again a slight decrease in stock over the last few months, which is attributed to the same market conditions as Orgiva, the average price is experiencing some drag from the properties that are not selling over a longer period, whereas those that are selling quickly have been more accurately priced in the market.
Lecrin Valley Property
A similar story is shared with Lecrin Valley Property, prices and activity remain good, but looking at the average prices over the course of the year, there is a distinct difference between the average asking price and selling price, with many proprieties lingering on the market for a long time due to poor pricing and marketing strategies.
In Melegis for example there were 21 properties for sale with an average price of 116,785euros which equates to a price per sqm of 728 euros.
There have been some very interesting developments in the property market over the last month, with the potential abolition of the plusvalia tax, and then the potential introduction of a new way of calculating this, but with different rules immediately being implemented. Well, we didn’t really think that the town halls would just write off this very valuable source of income did we? There have been some significant changes with this though, and I will make a separate blog post about this with all the details very soon. It is very important to ask up for some proper advice to ensure you do not get caught out with a hefty tax bill when selling your property. This is even more important with Cortijos that are not your main residence.
Planning Laws in Spain – The new LISTA or The Ley de Impulso y Sostenibilidad del Territoria de Andalucia (LISTA)
This was approved on 25th November and is designed to simplify the massively over-complicated planning laws in Andalucia. This should have a big impact on making laws clearer and more regular, but we will need to see the full details of this, which are likely to be released around the early part of next year and we will keep you up to date with this.
So to round up this months property Market Report, the overview is that the market remains good for quality, correctly priced proprieties, that have the correct marketing plan built around them. As we enter what can be seen as a traditionally quieter time of year over the Christmas period, with many Northern European countries, the USA, Canada and even Australia entering their festive periods, now is the perfect time of year to be preparing your new year marketing & organising your selling strategy.
The market will return with a bang in January and for example, Boxing day or the 26th of December is one of the busiest days for property searches in the UK! This is why it is so important to understand the international markets in order for you to have the best opportunity to achieve the best possible price for your property.
I look forward to speaking with you again soon and don’t forget to subscribe to our your tube channel or Facebook page for the latest updates on the local property market.