Costa Del Sol Property Trends
The number of properties sold in Spain in Q3 this year was the highest in 15 years and sales of both resale and new properties were up against the previous quarter.
Post covid , real estate has been one of the sectors on the Costa Del Sol that has experienced unprecedented growth. Construction has reached a level of sophistication that places Marbella on a par with its European Mediterranean counterparts, with projects such as Epic Marbella by Fendi Casa providing a commercial success and spearheading the arrival of Four Seasons and Karl Lagerfeld Villas among other internationally renowned brands. Marbella has become one of the fastest growing and most sought after luxury destinations in Europe and is set to remain this way for the foreseeable future.
The branded residences sector has grown rapidly, particularly over the past 20 years, with more than 400 across the globe, the majority of which are hotel-branded. In response to this increased demand, Marbella has become the destination for several luxury hotel and private residence projects. Services and amenities are the top motives behind the purchase of a branded residence. Other projects which are underway is the W Hotel, Club Med Group and the Hilton.
There were 5 million new millionaires created globally in 2021, so the rich are getting richer and this is reflected in the value of the properties that they are buying in 2022. There has been a record number of sales in the past 12 to 16 months of luxury homes in the €2 million+ range, in the prime areas within the municipalities of Marbella and Benahavis. Arguably Southern Europe’s most exclusive urbanisation, La Zagaleta in Benahavis reported a record year in 2021 , tripling its volume of sales of the previous two years and had the best start of a year in their history during the first quarter of 2022.
During 2021 in the Malaga Province, more than a quarter of residential property sales were to foreigners. This represented a slight drop from the previous year, this then rose in the first quarter of 2022 and the top nationalities were the British, Swedish, German and Belgian.
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Modern properties for sale at Epic by Fendi Casa with Jason Callow Homes: Click Here to View
