 Costa del Sol - East Marbella Property
2007 report
This report was prepared by Engel & Völkers, a real estate agency with offices in many of Spain’s most popular destinations. It is reproduced here with permission. More information on Englel & Völkers
East Marbella and Elviria Property
Marbella East is a much sought after, exclusive
region with fabulous facilities, immaculate
white sandy beaches, various renowned five
star hotels and exclusive beach clubs.It is
located approximately 15 minutes drive from
Marbella city centre and 20 minutes from
Málaga airport.
It provides high quality lifestyle infrastructure,
services, amenities and entertainment facilities.
There are numerous golf courses located in this
area such as “Santa Maria”, “The Marbella”
and the renowned “Golf Rio Real”. There are
excellent facilities to play tennis and residents
can also use the nearby port of Cabopino in
Calahonda, where some of Marbella’s finest
beaches are located. First-class educational
facilities are provided by the English
International School and the German school,
which both cater for primary and secondary
students.
The Buyer
The main buyers are once again the British
(40%) and the Germans (25%) followed by
Spanish (20%) and Irish (10%) and then a
mix of Swiss, Scandinavian, Dutch etc..
Average spends are in the region of €500,000
for apartments and €1 million for villas,
which are the most sought after properties,
followed by townhouses with an average price
of approximately €650,000. British buyers,
who account for 30% of all sales revenue
in this area, will spend up to €2.5 million
and the Irish will spend up to €3 million.
The top areas are the most in demand and
include Elviria, El Rosario, the elegant and
long established residential areas of Los
Monteros and Hacienda las Chapas as well as
Marbella.
Property Values
In the past five years prices rocketed by
about 45%. However, in the last two years,
this situation has started to slow down and in
2006 increases were running at an average of
5%, depending on the location and quality.
It would appear that prices appear to have
reached their peak and it is anticipated that
they will continue to stabilise in 2007.
Investor Tips
The infrastructure, climate, proximity to the
airport and the fact that this area is established
make it particularly attractive and an investment
here is a safe one. Property around El Rosario
is also worth investigating this year. |
