Consider A Property Investment in Marbella – A Property Market with Its Own Personality
For decades now, the property sector in Marbella and on the Costa del Sol has developed a very distinctive character which sets it apart from other areas of the peninsula.
These days, the evolution and development of the property sector in areas like Marbella’s Golden Triangle mainly consists of high-end properties. This iconic part of southern Spain is chosen by many international clients looking for a second home, and according to data from TINSA (a property valuation company), recent years have seen the prices of holiday homes in areas like La Milla de Oro, Benahavís or Nueva Andalucía increase by around 5%.
Furthermore, according to a Spanish Property Market Index report by the same company, during the first quarter of this year, Málaga was the Spanish province with the most property sales in proportion to the size of the market the previous year. According to data from the Ministry of Development in Andalusia, 34 homes were sold for every 1,000 existing homes during this last period; much higher than the national average of 22.1. And if we look at developers, the province of Málaga has granted the most new-build licences of all the provinces in Spain, ahead of Navarra and Madrid.
Málaga and the Costa del Sol boast sites that give the property sector its own personality
There are many good reasons to consider this province for a future property investment, not just because of the pace of the market but also for the excellent locations that are on offer. In fact, the locations available in the different municipalities that make up the area are simply exceptional, and this is what makes a property investment in Marbella or the Costa del Sol so attractive.
Other contributing factors to consider in making property developments in Marbella and the Costa del Sol really stand out, are important aspects like build quality in the most iconic, high-end areas, home automation, or the focus on landscaping. All of these aspects are what make the province of Malaga one of the leading places for high-quality homes.
Investing in new-build developments in Marbella
When it comes to new-build developments in the area, there has been a considerable increase in sales times to the extent that, according to data from the website Idealista, there are more than 300 new-build developments for sale, with 22 in Marbella alone, 35 on the western Costa del Sol, 20 to the east and 20 in Estepona.
On top of this, it’s also important to add property projects that focus specifically on restoring and renovating old properties, and this is doubtlessly another potential investment route in Marbella that is yielding positive results in the sector.
Residential tourism in Marbella and the Costa del Sol helps us to achieve sustainability in the property sector
If we add the fact that the south of Spain, particularly Marbella and the Costa del Sol, is one of the leading regions for residential tourism in the world, it’s clear that a property investment in Marbella is a great option to consider.
However, something important to bear in mind when thinking about a potential investment in Marbella and the Costa del Sol is the excessively competitive market. Overexposure of the properties on offer through local estate agents could harm prices and put off investors. This is why seeking the services of a professional with experience in managing properties in the area is key for a successful investment strategy.
An advancing property sector with a commitment to transparency and innovation
In some localities, like Marbella, there is a certain instability regarding fundamental aspects of urban planning which, for a while now, has been tackled by professionals in the sector, such as the Leading Property Agents of Spain property association. With the support of professional associations like LPA, local authorities have been encouraged to update the different legal aspects of certain developments, such as the General Urban Plan (PGOU) for example, so that property investments in Marbella and elsewhere in the area can be carried out securely and with commitment.
The updating of the PGOU is vital for the management of property investments in the area. Putting things in the hands of professionals who know and understand the key tasks of managing a property will be fundamental for success.
Are you thinking of making a property investment in Marbella or the Costa del Sol?
Investing in property involves certain prior technical and administrative tasks to analyse the urban and legal situation prior to acquiring land.
If you are thinking of embarking on a property project and the idea of investing in Marbella or the Costa del Sol sounds interesting to you, you can contact us as real estate advisors in Marbella and Costa del Sol with no obligation so that we can advise you and guide you through the different processes of managing your project, as well as the subsequent marketing of your property.