Marbella, April 15th 2019.- Real estate transactions in Marbella and its surrounding sphere of influence, specifically Estepona and Benahavis, more commonly known as the “Golden Triangle,” have stabilised after eight years of sustained growth.  Without a doubt, there has been a series of factors such as an over-supply of properties all aimed at the same client profile, the uncertainty being generated by Brexit and the global economic slowdown. These contributing factors have led the experts to foresee in the coming months a moderation in the rhythm of sales and property prices.  This Real Estate Market Report for the Costa del Sol has been written by Diana Morales Properties|Knight Frank, one of the most prestigious agencies in the area.  The report suggests the necessity to take all of these factors into account and calls all the players in this sector to “work at being creative, offering quality and value, and hope that price levels even out in the near future.”

Even though there has been an enormous increase in the number of sales in Estepona and Benahavis, Marbella still tops the charts in the number of transactions completed.  It is also a national indicator, often ahead of the curve economically, partly due to the fact that it is so dependent upon and in tune with the broader European economies.  The economic uncertainty in Catalonia combined with the recent tax reforms, virtually abolishing inheritance tax in the Autonomous Region of Andalusia, has had a positive knock-on-effect on these shores.

In an international context, the uncertainty being generated by Brexit has resulted in a slowing down of the British market, although it is still the biggest in Spain and especially here on the coast; in 2018 they represented 15% of the market compared to 21% in 2015.  This decrease has been compensated by an increase in the domestic market as well as a marked increase in the Norwegian, Swedish, Dutch, French, Belgium as well as Middle Eastern markets. All of these regions continue to show strong economic growth and have high income levels, which makes the Costa del Sol relatively affordable.  Easter week is one of the busiest times, witnessing a large increase in the number of possible buyers coming to the coast to view properties.

However, the adjustments being made by most economies in their downward output forecasts for 2019-2020 to just below 2%, as well as the fact that some American and European funds are not as active as they were a few years ago, makes experts think that there is a cooling down of economic fortunes in the near future. The report furthermore highlights the point that developers are suffering due to the effects of trying to compensate for the increased costs of construction and in land value which has forced them to raise their prices.

For this reason, the Real Estate Market Report by Diana Morales Properties | Knight Frank considers that these signs indicate that there should be “a cooling off of land and construction costs as well as an easing of property prices if the market is to regain its dynamism, as well as a resolution of the Brexit impasse.” According to their estimates, it will be the top end of the market which will be more resilient to these changes and will best maintain its value.

Benahavis, Estepona, Ojen, Mijas, as well as Casares and Manilva, have absorbed a large part of the recent growth in the real estate market in the past five years, largely in part due to the planning issues that have been plaguing Marbella, which has seen an increase in prices from 3%- 7% depending on the area and type of property during 2018.  However, “we’re witnessing a cooling off of demand in the new areas, as they too see prices rise perhaps more quickly that the market can carry right now.”

The report has furthermore detected two important phenomena.  On one side, there is a scarcity of new projects being developed in Marbella, being a direct consequence of the lack of land available for development and the problems arising from the delay in urbanistic planning licences.  This, and the lack of offer, has ensured that the Golden Mile has maintained its status as being the most exclusive address available, with prices reaching as much as €20,000 per meter squared on frontline beach properties. Urbanisations such as Sierra Blanca or Guadalmina maintain their prestige over the areas of Estepona or the Cala de Mijas, where there is more availability of land and building licences are readily attained.  The report also highlights the worrying lack of variety, with the majority of projects on the market focusing on the same mix of design, amenities and price range. The oversupply and over-competition in this sector has resulted in it being the victim to the greatest drop in sales from the lower–to-mid range bracket. But that’s not to say that original and truly luxurious initiatives can’t be successful.

New styles of properties

The report states that the majority of buyers in Marbella do not need mortgages and tend to be cash buyers.  The younger generations (35-44) rank first in property searches followed then by those in the 45-54 age bracket.

Demand is being centred on modern and newly constructed properties, with an increased interest in those promotions offering all the comforts and open spaces that can be found in a house but are in an apartment.  A change has also been noted in the style, going from the white minimalistic look of recent years to a fusion of classic-contemporary style. Environmental credentials and energy-efficient homes are also more important than before.  The market for renovating and modernising older properties is one that remains solid and is gaining in popularity again. This is especially noticeable in Marbella, the Golden Mile and in Nueva Andalucía. This formula allows for buyers to have the best of both worlds, a property in the best location combined with the best design, quality and technology.

About Diana Morales Properties | Knight Frank

Diana Morales began her professional career in real estate in Marbella in 1978, making Diana Morales Properties one of the oldest agencies on the Costa del Sol and a leader in the luxury real estate market. The company´s reputation both national and international as a boutique agency has gone from strength to strength. Having represented both Sotheby’s and Christie’s in the past, is now the sole representative of Knight Frank in Marbella, holding longstanding connections with both clients and fellow luxury segment professionals.  Diana Morales Properties | Knight Frank bring together the reputation and expertise of the local market with the international reach of having over 500 offices in 60 countries.

MN Comunicación  wrote the press release and sent it to all the press, local, national and international.

La entrada The 2019 Market Report by Diana Morales Properties | Knight Frank calls to action all the players in this sector to readjust the market se publicó primero en MN Comunicación.

Marbella August 2, 2018.- The Golden Mile has long been a favoured international destination since the 60s, when it became a resting place for the European elite. Its exceptional location has allowed the housing demand to prosper, even during the worst years of the crisis. When the crisis passed, Engel & Völkers recognised the new profile of international buyers, in order to offer them ‘The Collection’, a product 100% adapted to their needs, which was presented this morning at a press conference.

“The Golden Mile has always been the most prestigious address for a second home for the European clientele. However, in recent years we see a new trend of younger clientele with an average age between 35 and 55 years old, who are searching for a modern style, contemporary design and the latest trend of material and amenities, of course in the best locations on The Golden Mile preferably around the vibrant Puente Romano Resort.” explains Smadar Kahana, CEO of Engel & Völkers Marbella. This indicates a rejuvenation of one of the most exclusive addresses in Marbella of up to twenty years. Therefore Engel & Völkers is very proud to present exclusively The Collection.

‘The Collection’ is a project that meets the demands for new housing construction for this clientele with 26 luxury semi-detached villas that will go under construction on 16th of August. It will be a milestone for this city in view of its recent construction and licensing ups and downs. “Over the past two years, Marbella has lost a lot of investments and now that licensing has been granted, we hope that this promotion will be sold in just a few weeks,” says Kahana.

“Most of buyers do not want 20-year-old houses. They are looking for modern, organic designs, integrated into their environment and in the best possible location”, she continues. “At this moment in time there is no similar villa project on the Golden Mile except for The Collection”.

In fact, The Collection is located just 400 metres from the celebrated Hotel Puente Romano and a short walk from the Mediterranean Sea – it is at the epicentre of everything an international investor is looking for. Built with the highest quality materials, from the prestigious architecture firm González Jacobson who use natural materials such as wood and stone in order to give a feeling of warmth to these semi-detached villas, which are 4,000 square meters, built on plots of 8,000 that is going to be built by the prestigious company San José Construcciones.

In recent years, clientele from central and northern Europe have taken precedence in comparison to other nationalities such as Arabs or Russians. Belgians, Germans, British, Norwegians or Swedes are the main buyers of luxury homes according to the internal study of Engel & Völkers. To achieve the supply for this demand in the best locations in Marbella the goal should be: homes with the best qualities, close to all services in price ranges ranging between 500,000 and 1.000,000 euros for apartments and 1.000,000 and 2.500,000 euros in the case of villas.

‘The Collection’ will have a market value of 30 million euros, with prices from 1,125,000 euros. A unique investment opportunity given the scarcity of plots in this coveted corner of Marbella.

About Engel & Völkers

Engel & Völkers is one of the world’s leading service companies specialising in the intermediation of luxury residential properties, commercial real estate, yachts and aircraft. Present in more than 800 locations in 34 countries, Engel & Völkers offers both private and institutional clients a wide variety of professional services tailored to your needs, providing access to a wide range of potential international buyers and a proven track record during many years. Advice, sale and rent make up the key competences of the more than 10,000 people that are part of E & V. The intensive training plans in its real estate academy and the high level of quality that governs its offer of structured services systematically constitute the key factors of the company’s success.

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Marbella, 19th of february 2018. – Benalús, a unique new housing construction on the golden mile, relaunches its project with fresh air and new adaptions to the needs of premium clients. The announcement made by the Marbella town hall at the end of 2017, regarding the unblocking of stalled licences, has put Marbella back into the focus of national and international investors and has revitalized the property market.

When walking or driving past the most sought for kilometre on the Costa del Sol, which links Marbella and Puerto Banús, only one property promotion can be seen standing on this golden mile. It´s Benalús, a 27 luxury apartment project, divided into 3 buildings standing on 9000 square metres of ground, over half of which will be gardens, private and communitarian open spaces.

Benalús is re-activating after the slowdown. The Project had suffered due to the legal instability there had been in the urbanist sector since the supreme tribunal nullified the PGOU in 2015. Now that the airs have cleared around the urban ordination issue, the construction work will begin this June. The director of the project, Sergio Fernández explains; “We are bringing a product of the highest quality to the market, made to satisfy even the most demanding of buyers and adapted to the latest trends and technologies. All preparations have been made to commence with the construction work in June 2018, the project is scheduled to be completed by the spring of 2020”. The statistics show that in the last years second hand housing has dominated the market, however, they also show a progressive reversal of this trend back toward new constructions scheduled for completion between 2019 and 2020.

The international political and economic changes that have taken place have changed the profile of buyers, with the numbers of English and Russian buyers giving way to more Spanish, central European and Nordic buyers. The numbers of Arab buyers have remained stable. “However, given the exceptional location of Benalús, interest has been shown from all over the world”, Fernández adds. It´s a profile of people looking for modern, luxurious constructions with large open air spaces and exclusive communitarian services, a high level of security, privacy and a strategic and privileged location.

During the last years, Benalús has been able to detect and adapt to the new needs of Premium clients, who require the comfort of a resort within their homes. Thanks to this, Benalús holds apartments from 170 to 785 square metres and with a price range of between 1,000,000 and 3,000,000 euros in offer, on one of the few free plots in the area. It´s close to the beaches of

the Mediterranean Sea and has a prime view of the emblematic La Concha Mountain. The urbanization is a closed one with 24 hour security, spa, private and public swimming pools, community solarium, gym and a chill out. All surrounded by 7.000 square metres of green zones belonging to a protected `Cañada Real´.

The promotion of Benalús (www.benalus.com) has been done by a prestigious and well consolidated business group from the Basque Country. In the last years they have administrated the promotion of over a thousand properties in different projects. The construction firm owns the plot itself and is the exclusive marketer of the promotion. Confidence is high in the commitment to quality and the bank´s endorsement of down payments. “Our objective is to offer the best possible product to the most demanding client, adding value to the Marbella trademark, which has always stood out because of its exclusiveness and high standard of quality” the project manager concludes.

La entrada Benalús relaunches its star Project on the Golden mile aimed at Premium clients se publicó primero en MN Comunicación.

Marbella, 19th of february 2018. – Benalús, a unique new housing construction on the golden mile, relaunches its project with fresh air and new adaptions to the needs of premium clients. The announcement made by the Marbella town hall at the end of 2017, regarding the unblocking of stalled licences, has put Marbella back into the focus of national and international investors and has revitalized the property market.

When walking or driving past the most sought for kilometre on the Costa del Sol, which links Marbella and Puerto Banús, only one property promotion can be seen standing on this golden mile. It´s Benalús, a 27 luxury apartment project, divided into 3 buildings standing on 9000 square metres of ground, over half of which will be gardens, private and communitarian open spaces.

Benalús is re-activating after the slowdown. The Project had suffered due to the legal instability there had been in the urbanist sector since the supreme tribunal nullified the PGOU in 2015. Now that the airs have cleared around the urban ordination issue, the construction work will begin this June. The director of the project, Sergio Fernández explains; “We are bringing a product of the highest quality to the market, made to satisfy even the most demanding of buyers and adapted to the latest trends and technologies. All preparations have been made to commence with the construction work in June 2018, the project is scheduled to be completed by the spring of 2020”. The statistics show that in the last years second hand housing has dominated the market, however, they also show a progressive reversal of this trend back toward new constructions scheduled for completion between 2019 and 2020.

The international political and economic changes that have taken place have changed the profile of buyers, with the numbers of English and Russian buyers giving way to more Spanish, central European and Nordic buyers. The numbers of Arab buyers have remained stable. “However, given the exceptional location of Benalús, interest has been shown from all over the world”, Fernández adds. It´s a profile of people looking for modern, luxurious constructions with large open air spaces and exclusive communitarian services, a high level of security, privacy and a strategic and privileged location.

During the last years, Benalús has been able to detect and adapt to the new needs of Premium clients, who require the comfort of a resort within their homes. Thanks to this, Benalús holds apartments from 170 to 785 square metres and with a price range of between 1,000,000 and 3,000,000 euros in offer, on one of the few free plots in the area. It´s close to the beaches of

the Mediterranean Sea and has a prime view of the emblematic La Concha Mountain. The urbanization is a closed one with 24 hour security, spa, private and public swimming pools, community solarium, gym and a chill out. All surrounded by 7.000 square metres of green zones belonging to a protected `Cañada Real´.

The promotion of Benalús (www.benalus.com) has been done by a prestigious and well consolidated business group from the Basque Country. In the last years they have administrated the promotion of over a thousand properties in different projects. The construction firm owns the plot itself and is the exclusive marketer of the promotion. Confidence is high in the commitment to quality and the bank´s endorsement of down payments. “Our objective is to offer the best possible product to the most demanding client, adding value to the Marbella trademark, which has always stood out because of its exclusiveness and high standard of quality” the project manager concludes.

La entrada Benalús relaunches its star project on the Golden Mile aimed at Premium clients se publicó primero en MN Comunicación.