MARBELLA: Demand for luxury homes remains consistently high

Andalusia is located in the south of the Iberian Peninsula and is the most populous of the 17 autonomous communities of Spain. The heart of the famous holiday region is the Costa del Sol, which stretches some 150 kilometres along the Mediterranean coast from Sotogrande to Maro. Thanks to the wide array of recreational pursuits, the Mediterranean climate and the very good infrastructure, properties on Spain’s “Sun Coast” are in strong demand. “International buyers in particular are looking for a second home either for their own private use or as a stable investment. In some parts of Marbella, up to 93 percent of potential buyers come from abroad,” said Smadar Kahana, Managing Director of Engel & Völkers in Marbella.

Marbella: 25,000 euros per square metre for newly-built villas

The city of Marbella is set right on the Mediterranean Sea with the Sierra Blanca mountains as its backdrop. It is synonymous with luxury and exclusivity, and is a highly desirable holiday destination all year round. The highest prices in 2018 were reached in the east of Marbella. In Los Monteros area, prices per square metre for newly built villas were as much as 25,000 euros. In the west of the city, prospective buyers tended to look for contemporary villas with at least 400 square metres of living space, all the latest technical fittings and substantial garden grounds. Other purchase criteria included proximity to golf courses and sea views. Properties of this kind in premium locations such as Guadalmina Baja commanded top prices per square metre of 10,000 euros. Marbella’s so-called “Golden Mile” stretches more than five kilometres along the coast. The interest from the predominantly international buyers is centred here on new properties by the beach. Maximum prices reached 9,000 euros per square metre. Real estate on the Costa del Sol, especially in Marbella, remains an attractive investment, especially for international clients. “We anticipate the rise in property prices to continue over the course of this year.

■ Have you seen any significant changes in the first 6 months of this year?

We do see a tendency of the clients  looking for new properties but in a bit more "Modern Andalusian " feel, we also see more German and Swiss clients.

■ What do you think will be the trend in the next months?

I dont expect very different trends. The majority of the clients still prefer good locations and newly built homes, and regarding that, we offer a complete exclusive portfolio for the most discerning buyers!

■ Which nationalities are purchasing properties in Marbella this year?

Very mixed nationalities, as always. However, we see many more Germans, Swiss as well as Austrian clients than in the previous years.

■ Are there any highly demanded architectural styles?

There is a tendency to go back to Andalusian style but modern.

■ Are there any upcoming areas in Marbella?

We see many established areas changing. From the nature of things, the best areas are occupied with the oldest houses as the first purchases in Marbella have picked the best locations and the best plots, obviously - in these areas we see many older properties that have been sold and renovated turning into luxury homes, such as in Casablanca beach on the Golden Mile, Marbesa in the Eastern part of Marbella and many more.

■ Are there any resorts that are coming to Marbella any soon?

Yes and we are very excited about it. The hottest project coming on the market is "La Fuente de Marbella" which offers the most beautiful 15 individual villas in a gated community with concierge services on the beginning of the Golden Mile in walking distance to marbella club, the beach and all amenities. in terms of location, style and amenities - this is the best upcoming project in Marbella today. we are also proud of Epic which is turning into a Fendi resort.

■ What is your forecast of the Real Estate sector in Marbella?

The demand is still growing. Marbella is today the most luxurious second home resort in Europe. We offer not only the best infrastructure but also the best weather all year round, amazing beach clubs, the largest selection of golf courses and I dont see any reason for the market to change. In addition, Engel & Völkers offers a wide range of New Developments for all tastes and budgets. See below our selection for this week: