13/08/2021

The purchase of luxury homes in Marbella continues to rise after the pandemic

The luxury housing market on the Costa del Sol has not been affected by the COVID 19 pandemic and has also managed to increase its volume. After a certain unknown that occurred as a result of the restrictions, the truth is that the pandemic has increased investor interest in higher quality properties, which has even caused a rise in prices, according to La Opinión de Málaga.

In addition, from this media, they point out that this may be due to the facilities to carry out remote work (teleworking) or, to the importance of having a garden or other types of open spaces, especially after the strict confinement of 2020. At Le Blanc we have prepared a pilot villa specifically for you to see what your future home will be like, with its large garden areas and open spaces.

2021, a good year to buy on the Costa del Sol

According to the Report on the Marbella property market 2021, Marbella’s property market is very active.

“In 2021, the luxury sector of the real estate market (that is, of properties valued at more than 1 million euros) has been accelerating month by month, reaching a level of activity never seen before”, the study says. The report highlights that in the municipalities of Marbella, Estepona and Benahavís there is a 9.2% increase in sales compared to the same period in 2020, with special attention to Marbella, where the increase is 22%.

They have also studied the nationality of the new owners on the Costa del Sol: 90% of buyers in the luxury segment are foreigners. In 2020, the three main nationalities of foreign buyers in the province of Malaga were British (19%), Swedish (13%) and Belgian (9%).

In addition, the study also includes a prediction regarding the sale prices of these homes. The study predict a gradual price rise influenced partly by the data from the Appraisal Society, which reflects the 8.56% increase in construction costs (between the end of the first quarter of 2020 and the end of the first quarter of 2021).

Why has the investment grown in 2021?

After the pandemic, people have valued their home and its possibilities more. And, without a doubt, quarantine is better to live in a house with a garden, a swimming pool and the possibility of enjoying the outdoors near the beach in a unique environment like Marbella.

In the towns of the Costa del Sol where traditionally the purchase was of second homes, the purchase flows have been reversed, and with the flexibility granted by teleworking, these spectacular villas are becoming homes for habitual residence.

As Brainsre.com collects, there are numerous factors that also contribute to the Marbella area continuing to consolidate itself as an increasingly active and solid market: the reduction of the Property Transfer Tax that the Andalusian Government has applied, the mortgage interest rates in historical lows and progress in the approval of the new General Urban Development Plan (PGOU).

Thanks to the opening of mobility and the large percentage of vaccinated population, little by little Marbella is experiencing the return of tourism and the arrival of new owners. All these facts, together with the wide range of luxury homes in Marbella, make 2021 a magnificent year to move to the Costa del Sol.