REAL ESTATE – The sale of apartments stabilizes in Marbella after eight years of sustained growth
The luxury sector is the one that can best withstand the new scenario of revenue reduction
Experts predict a “moderation” for the coming months, which is due to an oversupply targeting the same buyer profile or the uncertainty of Brexit.
The real estate sale in Marbella and its sphere of influence, known as the Golden Triangle, which is catching up with Estepona and Benahavís, has stabilized after eight years of sustained growth. A number of factors, such as the oversupply targeting the same buyer profile, the uncertainty caused by Brexit or the slowdown in the global economy, are leading the experts to slow the pace of sales and weaken prices in the coming months.
The experts continue to put Marbella at the forefront of buying and selling activities despite the boom of neighboring cities such as Estepona and Benahavís.
Benahavís, Estepona, Ojén and Mijas, even Casares or Manilva, have taken over much of the property development over the last five years as there was no planning tool in Marbella where prices rose to 7%. In these municipalities, however, the price increase has already caused a “gradual cooling off of interest”.