Boost for Real Estate in Marbella: Prices of Holiday Homes Rise
Another report has been published heralding good news for real estate on the Costa del Sol. This time, it concerns the price of holiday homes and villas in Marbella. Whilst investors are still enjoying the chance to buy properties below pre-crisis price level, the market is stabilising itself. And although this sometimes means prices swing back and forth, holiday homes in Marbella have still increased in price by 4.8 per cent over the last year.
The figure originates from a survey carried out by the valuation firm Tinsa. It reviewed nearly 30 tourist resorts on the Spanish coasts to find out information about prices and quality, amongst other things. The report from earlier this month bases its findings on the first quarter of 2014 and has calculated in the year-on-year result from the first quarter of 2013. Marbella was no. 3 on the list of holiday home prices, one of just two coastal towns in Andalusia to have seen an increase in price. It was no. 1 on the list for recovering from the crisis, as holiday homes and villas in Marbella now cost only 39.2 per cent less than they did in 2007 – Marbella’s pre-crisis peak.
The report also reiterates points we reported earlier on this blog. Since early 2013, foreign buyers have been responsible for an increase in activity on the real estate market in Marbella, causing the positive growth we’ve seen between the worst year of the crisis and now. Tinsa proved that this was also true specifically for holiday homes and villas in Marbella. Another point mentioned by the report is how the quality of properties plays a significant role in the rising prices of holiday real estate in Marbella. As a hot spot for the rich and famous, Marbella and the surrounding area need to live up to expectations when it comes to holiday homes. And they do. A quick browse of the current real estate on offer shows that quality easily meets the existing demand: it’s a key element to Marbella’s success.
Whilst Tinsa’s report is yet another that brings good news about the state of real estate in Marbella, people looking to buy holiday villas in Marbella might be less pleased to hear about the increase in price. However, they should realise holiday homes in Marbella are often still on sale at a lower price than could be found before the crisis. The market stabilising means buying a house now is actually a safer investment. Interested? Have a look through Realista’s properties currently on offer or get in touch with us for more information.
Cover image by Emilian Robert Vicol