REAL ESTATE – Marbella, the paradise for luxury and high standing homes
Marbella, the paradise for luxury and high standing homes
In recent years the sector has noticed an increase, which has been accentuated with the beginning of the pandemic and changes in habits
It is not new that the name of Marbella is related to the highest levels of the world of luxury. Since its inception, the city has welcomed the international elite, both faces known to all for their appearances on television and the most unknown but with great influence.
The city has become a meeting place for a select group of people, something that the luxury and high standing market has not wanted to miss. Proof of this is the information published about the high investments that the promoter groups bring to the city. A few days ago the construction of five luxury villas was announced by Karl Lagerfeld on the Golden Mile or the two luxury developments Sunrise and Sunshine in Soul Marbella. These are just a few examples from the long list out there.
The high-quality housing real estate sector has been one of the least affected by the pandemic, marking a frantic increase in sales since the lockdown in Spain was lifted. Despite the restrictions and sanitary regulations imposed throughout the country, this growth has been a direct cause of the coronavirus and teleworking.
The number of buyers from central and northern Europe has increased
Something that is also pointed out by the DOM3 association, which understands that Marbella offers ideal conditions to attract Europeans. “It has made them realize that you live here, you are not just on vacation and you live well thanks to a series of infrastructures.
Although it is true that the main market is foreign, a change of nationality has been noted. While in previous years there was a high presence of Russian or Saudi national visitors, now the presence of Europeans is noticeable, especially from central and northern Europe, such as Belgians, Austrians, Dutch or Scandinavians. Spaniards also live with them, especially from Madrid and Basques.
A buyer profile that offers Marbella a source of income, according to experts, who think that partly, thanks to them, the city is maintained. “These types of people make considerable investments. People who spend money to build the house, to maintain it, and that is something that generates work. They are the ones who go to restaurants and also buy in establishments in the area.
Although the pandemic has given a boost to the sector in the city, Marbella has always been a destination for this type of activity since its early years. “Marbella is in the spotlight of the world today as in the past, as a quality place to live part or all of the year. The basis of its growth is therefore very solid.
The real estate sector went through a serious crisis in 2008, something that is not expected to happen now, since apparently there is a lot of demand for high-end homes. “Our studies report that there are enough new and refurbished properties hitting the market in the next two years to meet demand.
The figures demonstrate the strength of the market
The real estate market for high-end homes has established itself solidly in recent years, although the pandemic has given a boost since confinement and teleworking were decreed in 2020. So say the statistics that are shuffled by the different associations. According to data provided by real estate companies, if we compare the activity of the first six months of 2021 and with the first six of 2019, possible inquiries by buyers increased by 154.4%, while sales have increased by 68 %. This consolidation of demand has had an impact on the price of homes, which has risen in value by 107.5%, with prices ranging from 400,000 euros to ten million euros.
