According to AHE mortgage lending will increase by between 14% and 18% in the course of 2004.
The president of the Associaci├│n de Hipotecaria Espa├▒ola (AHE) predicted that during next year mortgage lending will increase by between 14 and 18 percent.
Although this exceeds the normal lending rate growth level, in fact this expectation represents a slow down in borrowing when taking into account the 20% average increase during the last five years.
Half of the demand for residential properties on the Costa is for investment.
According to a recent survey, half the demand for residential properties on the Costa del Sol is for investment purposes, the survey also reveals that 40 per cent of such demand is by Spanish people followed closely by the British.
The typical apartment represents the most demanded product (81%), especially in Martella, Mijas and Estepona.
The lesser working hours, longer life expectation, government concern for the environment, technological and communication advances are social changes and improvements that are transforming tourism, offering a more flexible and individual holiday alternative compared to the conventional sea and beach holiday in summer.
Marbella and all the different municipalities of the Costa del Sol have experienced a phenomenal increase in residential tourism.
Prices are still going up!
According to the Index produced by the Ministerio del Fomento, the average price for residential properties increased by a 3,42% between July and September in relation to the previous quarter.