On the back of unprecedented demand from Spanish and foreign buyers, property on the Costa del Sol continues to experience price hikes. No type of real estate is immune to the rise in values, and all sectors have seen sharp upticks over the last two years. Luxury property in Marbella is no exception and the latest figures show that this niche market is also subject to rising prices and strong demand.
For example, in some areas of the resort, high-end homes have gone up by 20% in the last year. In others, luxury villas spend less than four months on the market before being snapped up by a buyer. These are the conclusions reached in the latest research from Brainsre, a specialist in big data for real estate.
Background to the Costa del Sol property market
Brainsre bases its findings on listings published on online portals, and according to the latest, prices for Costa del Sol properties now stand at their highest ever. The average price per square metre currently sits at €3,023. New builds cost 13% more and have an average price of €3,403.
Costa del Sol real estate consists mainly of apartments and flats, which make up almost 64% of the market between them. Their average cost is just over €331,000.
Villas account for the remaining 36% of the market share and have an average asking price of more than €550,000. The research reveals that it takes around 5.1 months to sell a villa on the Costa del Sol.
Most expensive places to buy in Marbella
Brainsre ranks the top five most expensive districts in Marbella, the majority of which are located in the west of the resort.
Los Monteros – the most expensive of all
Marking the exception to the location rule, Los Monteros to the east of Marbella has the priciest property. In this exclusive development, homes cost an average of €7,457 per square metre. As a result, you need to spend at least €4.5 million on a villa. The average time spent on the market stands at six months.
Supermanzana G – second most expensive
This area lies at the heart of the Nueva Andalucía-Guadalpín area and has Marbella’s second most expensive real estate. Expect to pay an average of €7,015 per square metre and a minimum of €3.9 million on the property. Homes are listed for just 4.4 months.
Supermanzana D – third most expensive
Lying next to the Nueva Andalucía-Guadalpín district, this area has seen the highest price rises in Marbella over the last year. Real estate has gone up by 20% in 12 months and average prices now stand at €5,704. There’s high demand too, with properties taking less than 4 months to sell.
Sierra Blanca – fourth most expensive
As one of the most exclusive developments in Marbella, it’s no surprise to find Sierra Blanca in these rankings. Here, property costs €5,350 per square metre, bringing the average value of a villa to at least €3.8 million. Moreover, properties spend just 4.4 months on the market.
Nueva Andalucia-Guadalpin – fifth most expensive
This district in general has some of the priciest real estates in Marbella. The square metre cost comes in at an average of €5,267, meaning that villas have a price tag of at least €2.9 million. Demand ensures that properties sell quickly in this area and are listed for just 3.7 months.
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