Marbella Still the Most Desirable Destination for Property Investors

There aren’t many people these days who are saying that the property sector in Spain is not in a good place. Well, that’s in comparison to how it was a few years ago anyway.

Most experts within the sector agree on the fact that this is the year when the recovery becomes fully apparent across the country as a whole and for all types of property.

One of the markets in which this is reflected perfectly is Marbella in the Andalusian province of Malaga, where a substantial growth in the number of transactions involving luxury properties has been observed.

According to the College of Architects of Malaga, a total of 492 licenses for the construction of new buildings were granted last year.

And now, the demand for new property has actually exceeded the number of new properties on offer for the first time in many years.

And buyers are wanting expensive homes. The properties that are being snapped up the fastest in this popular tourist destination are the luxury buildings that have just been built and launched onto the market.

Prices of these exclusive properties were around the 3.5-million-euro mark in 2015, although the most expensive one was situated in the residential area of La Zagaleta and sold for 12.5 million to an American investor.

And, to the foreign buyer, Marbella continues to be one of the most attractive destinations in the country. It is particularly popular with buyers from the UK, Scandinavia and the Benelux countries, according to one property professional in the area.

This is seen in the profile of the typical investor in this area, who, it has been noted, is much younger than before and whose main focal points are lifestyle, design and quality.

As a result of the surge of demand of luxury property, new exclusive estate agents are being inaugurated across the region of Andalusia, particularly in the zones of Marbella, and emerging areas like Estepona and Benahavís.

Source: www.elmundo.es