If you’re living and renting long term on the Costa del Sol then you’ll want to know what’s in store for the economy in 2015. You will probably have felt the increasing positivity over the last 6 months of 2014 with a strong summer and improving property market and things are predicted to continue to improve. The government has put in place incentives for companies to try to generate more employment and a strengthening international economy is expected to help our area significantly in terms of tourism, international investment and property sales.
Things are looking better than the pundits expected and so revisions were made to cautious predictions at the end of last year. The Foundation of Savings Banks (Funcas) estimate that the economy will grow by 2.4% in 2015, two tenths more than they previously predicted. It predicts that private consumption will increase by 3% and even construction will see an increase with a 1.8% rise. They also expect a fall in unemployment of 2% in 2015 (330,000 jobs being created) which will be a huge boost.
BBVA bank has argued recently that the property market has finally reached a turning point into recovery and they predict that “2015 will mark the start of a moderate recovery in residential development.”
This is such great news for Spain, a fantastic country to live in, which has been challenging to work in for the last few years. We are looking forward to an even stronger 2015 and expecting an increase in demand for long term rental properties as people come back looking for opportunities as well as a fantastic standard of life, but aren’t ready to commit to buying just yet.
If we can help you to relocate to the Costa del Sol in 2015 and find you the perfect long term rental property, we’d love to hear from you.