Prices and Sales

Since 2012, prices have risen 23% and sales 36% across the Marbella area according to Spain’s Ministry of Development

2018 saw prices continue to rise the number of sales dipped marginally

Lower value areas such as Estepona, Ojén and East Marbella have recorded some of the largest price increases in recent years

International demand

Sales to foreign buyers have increased from 46,700 in 2015 to 65,400 in 2018 according to the Spanish Registradores

UK buyers are still the single largest group of overseas buyers in Spain and their market share (as a percentage of all overseas purchases) has increased from 14.8% in 2013 to 16.6% in 2018.

In Marbella, UK buyers have reduced in number but demand from Scandinavian, Belgian, Dutch, French and Middle Eastern purchasers has offset the decline.

Prime focus

Prime areas across the municipalities of Marbella, Benahavis and Estepona include the beachfront, the Golden Mile and La Zagaleta.

For those seeking greater value areas such as La Alqueria, El Paraiso and the New Golden Mile are also popular

New homes

While Marbella solves its planning issues, Estepona, Ojén and Mijas have become the focus of the coast’s development

The new development sector is at a crossroads; land prices and construction costs have increased and this is putting pressure on developers’ margins.

Tax changes

Keen to attract new residents and stimulate the economy, the Government of Andalucia reduced the region’s rate of income tax in April 2019 and cut inheritance tax to 1% for spouses and children

Spain’s Golden Visa continues to operate  - Spanish residency can be sought in return for an investment of €500,000in real estate. The visa can be renewed every two years.

To read the full report: visit Marbella Insight 2019

To talk to Mark Harvey, Head of our European Sales: Call +44 20 7861 5034

To view properties currently for sale in Marbella :visit Knight Frank Spain