Micheal Liggan, chief executive of Altavista Property, a Marbella based real estate agent with many years experience of the market, takes a look at the current state of the market.
The real estate market in Marbella, as is the case in most of Spain and indeed most of Europe, has been going through a rough patch. The prices went south following the U.S. events of September 2008 and the global credit crunch that followed. Analysts and commentators, however, are of the view that real estate prices in Marbella have hit bottom, which is actually a good thing since property prices can only go up now. Michael Liggan agrees with this point of view, and believes this is welcome news, especially given the fact that prices in most of the major cities, including Madrid, are still on a decline.
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