Originally a small fishing village, it has developed into a modern and cosmopolitan “city”, since Alfonso de Hohenlohe founded the world famous “Marbella Club” in the 1960´s, making it a meeting point for the international jet set.
Report prepared by local real estate agents
Marbella is offering a sophisticated and diversified lifestyle with some of the best facilities in Spain.There is wealth of different restaurant and shopping facilities, exclusive night clubs and established and elegant beach clubs, such as in the “Marbella Club Hotel” or the “Puente Romano”. Marbella´s exceptionally beautiful “old town” attracts tourist and residents alike.
The unique microclimate ensures sunshine and favourable temperature all year round. The area enjoys a continuous international demand for luxury real estate, particularly for villas and apartments with sea views. Popular locations include the Sierra Blanca, Marbella Hill Club, Camojän and areas which are close to the beach.
Marbella property prices have risen steadily with an increase of 15-20%. However, the market it is in a stage of healthy consolidation now. Local politics and problems with planning permission has served to strengthen the resale market although, vendors today have to be more realistic than in past years about asking prices.
The main markets here comprise British (32%) followed by Spanish (20%) German (15%) and Irish (14%). In the main they look for properties, with the emphasis on location, quality, design and excellent amenities. The average spend can be anything from €500,000 to €2 million, However there is international demand for villas with prices up to €10 million or even €12 million. Properties close to the sea along the Golden Mile, or with sea views are among the most requested. More and more couples and families from all over the world move here permanently, modern IT and proximity to international airports make it possible to run businesses in other countries while at the same time enjoying the Mediterranean lifestyle.
In 2006 prices were seen to stabilise. The average price for a well located apartment is now around €500,000 and approximately €2,7 million for a villa. Local agents on the Golden Mile is now seeing an increased demand from their clients for high quality property in prime locations with sea views and luxurious amenities. The demand for beachside property exceeds supply.
As prices have stabilised it is a good time to pick up well located property here. Marbella’s location, climate, facilities and infrastructure will ensure its future for foreign buyers.
Marbella Golden Mile Property Prices
|TYPE||BEDS||M2||AV. PRICE €||PRICE INCREASE 2001 – 2005||PRICE INCREASE 2006||€ AV. MONTH RENT HIGH||€ AV. MONTH RENT LOW|
|Villa with views||4||350||1,700,000||50%||6%||30,000||8,000|
|Villa no views||4||350||1,500,000||50%||3%||10,000||5,000|
|Apartment with views||2||100||400,000||60%||6%||3,000||2,000|
|Apartment no views||2||100||320,000||60%||3%||2,000||1,500|
|Plot price €/m2||–||–||350||70%||0%||–||–|