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Marbella property market remains robust in face of external pressures


There may have been substantial headwinds from outer forces in recent months - including not one, but two Spanish general elections, as well as the United Kingdom's vote to leave the European Union - but the Marbella property market is standing impressively firm, which should be a source of great encouragement to those considering investment in higher-end dwellings in this part of the world.

A market healthily "unto its own"

In the words of one property market observer quoted by The Olive Press last month, "Marbella is a market one unto its own. We have gone through ups and downs before and compared to other coastal resorts Marbella has always fared well. This year is no different."

The industry figure stated that even amid "lingering" political uncertainty, buyers who may have previously hesitated to become involved in the market were returning. Looking forward to next year, she added: "Seafront properties in Marbella are always going to be popular. What we have started seeing this year, and expect to see more of in 2017, is a boom in properties on the outskirts of Marbella."

With such areas as the new Golden Mile in Estepona, Benahavis and areas to the east of the city up to Cabopino all attracting ever-greater buyer interest, there may have never been a more opportune time than now to explore the emerging investment opportunities in the local property market with the assistance of a trusted estate agency like IQ Marbella.

High net worth buyers lead resurgence in Marbella property sales

In the years since the late 2000s and early 2010s global economic slowdown, there have been consistent year-on-year rises in Marbella property sales, with the purchasers of luxury properties in such areas as La Zagaleta, Sierra Blanca, the Golden Mile and Camoján doing much to power the recovery.

Since 2012, there has also been a noticeable uptick in new-build housing projects in Marbella, with much the same able to be said for local property prices, which according to one report, rose by 2% over the course of last year.

The diversity of the base of Marbella property purchasers should also be noted. While Russian buyers were especially prominent in the early stages of the premium sector's rejuvenation, more recent years have seen significantly increased interest from Dutch, Belgian, French, Middle Eastern and Scandinavian house hunters.  

Meanwhile, the Britons who were such enthusiastic investors in Marbella property for much of 2015 - but who have hesitated in the aftermath of the recent EU referendum result for fear of a market fallout - will likely be heartened by the municipality's demonstrated ability to withstand pressures that would have wreaked havoc in other corners of the globe.  

Spain's rude health further fuels demand for Marbella's most desirable homes

Another factor that should not be understated in any assessment of the ongoing renaissance of the Marbella property market is the bigger picture of a country attracting heightened economic interest, investment and development.

The 3% growth in GDP recorded by Spain last year was the highest seen across the continent, while unemployment has also been on the wane and the public finances appear to be in their best shape for years. It all adds up to conditions lending themselves to high levels of foreign investment, even amid the buffeting effect of the December 2015 elections.

Furthermore, it seems that especially modern and contemporary homes are in vogue across the Costa del Sol, as apartments and villas sporting such features as white-washed architecture, open-plan living areas, floor-to-ceiling windows and sophisticated up-to-the-minute kitchens have often been snapped up quicker than any other.

When you wish to make your own decisive step into the world of prestigious Marbella property as a high net worth individual, look no further than IQ Marbella and the highly specialised assistance and guidance that our experts are uniquely equipped to provide.