I can hardly believe that this year is already coming to an end…time flies when you’re living in the Lecrin Valley, aka “The Valley of Happiness“! No wonder so many of our buyers this year chose the Valley as their main residence.
Despite global events and economics, I am very happy to say that through collaboration and unity, the Lecrin Valley identity is stronger than ever. This year we have experienced boosts to our Valley as a rural tourism destination, and it’s rare to find a weekend without a fiesta, feria or sporting event!
Many of our clients who rent out their beautiful properties are reporting record-breaking occupancy rates this year, with a growing number of Spanish visitors, both from within the province and beyond.
As an agency, we have now been firmly established in the Lecrin Valley for 17 years, and our experience and genuine place in our community means we are privileged to have worked with many of our clients to buy and sell properties several times over, and this sense of loyalty and trust from our buyers and vendors gives us a lot of happiness and satisfaction. The gratitude of sellers, and the joy and excitement of the newcomers is what really motivates us to keep going and treat every sale as if it was the very first one.
We can proudly report that we have once again increased the number of people we have successfully helped to find a house this year.
As most of you will know, the Lecrin Valley (Valle de Lecrín) benefits from a lovely micro climate, without the weather extremes some of the surrounding cities and areas can experience. But did you know it also has an economic micro-climate?
Due to its attraction to local buyers from the city and the ongoing interest from buyers from all over the world, it is a niche market with high demand, which explains the stable house prices we are lucky to have, despite inflation and the increase in interest rates of the last couple of years.
Will interest rates go down in 2024?
The moderation of prices in the Eurozone is what has led the European Central Bank (ECB) to make the decision not to raise interest rates further. We will have to wait to see how the economy develops, but forecasts suggest that the cost of borrowing would begin to fall as early as April 2024.
If the economic situation improves, the monetary authority could potentially lower interest rates again in June and in September, which will be very welcome for all.
The Euribor seems to have begun a change of cycle. After peaking at the end of September, when it reached 4.228%, October has been a month of declines, ending in December below the 4% mark – a relief for anyone with a mortgage and an incentive for those who are thinking about purchasing. Any reduction in the cost of borrowing is good news for buyers of properties, both for permanent residency or as an investment, so this is a very good time to start your search.
To this end, we’d be very happy to help you find your ideal home in our magnificent Lecrin Valley, and make your Spanish property dreams come true.
So forget about those grey rainy winters and take the plunge to own your very own home and enjoy the mild climate with over 300 days of sunshine, combined with the natural beauty of the area, while taking advantage of the low cost of living, dining out and of course the excellent custom of a free tapas with every drink!
We end this message with a big thank you for everyone that has been part of our journey this year: to all our vendors for trusting us with the sale of their house and to all our buyers for letting us guide them through the process, and to all the other amazing professionals we have worked with and continue to work with…
Thank you all for making 2023 a very special year.
We are now going to take the time to enjoy a well-deserved holiday and, like every year, we will be back in January, energised and ready to help many new clients in fulfilling their Spanish property dreams.
Our last day in the office will be Friday 22nd of December and we will be back on Monday 8th of January, ready to help you all succeed in your New Year’s resolutions to find your own perfect Lecrin Valley home!
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