Where? (Location)
0000
Results
Friday, April 22nd, 2016

Foreign investment in Marbella’s real estate market

Luxury properties in cities like Hong Kong and London have always led the worldwide high-end real estate market. However, the trend to invest in these cities seems to have changed and international buyers and investors are turning to new destinations, like Marbella a city with lots to offer.

Marbella’s luxury real estate marketThe luxury real estate market’s situation in the United Kingdom and Hong Kong

Changes carried out by George Osborne, Britain’s Chancellor of the Exchequer, in relation to the rise of up to 15% in tax rates which tax the acquisition of properties that value more than 1.5 million pounds, have caused a fall in luxury property sales.

The Daily Mail has echoed the situation and reported the fall in the selling price of British high-end properties following the new revenue stamp implementation. The revenue stamp’s increase has been the final blow to the Britain’s luxury real estate market, causing it to enter into a deceleration phase. In its report Bloomberg, an international consultancy firm, also indicated that the off-plan sale of properties, mainly luxury houses, has fallen by 19% in London.

Hong Kong has also suffered a decrease in the demand of luxury properties because of these types of properties’ increase in price.

Both cities seem to have exceeded the quality-price barrier, consequently international buyers have started to look for new places to invest their money in.

The attractiveness of Marbella real estate market

Marbella has become a city which offers a lot of potential, as well as, an excellent quality-price relation regarding its real estate market, also thanks to the sector being stable for many years. International buyers have always been interested in high-end properties situated in the most prestigious areas in the city of Marbella. Currently their interest extends beyond the city, to the gated communities and other towns in the city, because they offer quality properties for reasonable prices and an exclusive lifestyle.

The recent acquisition of an extensive plot of land in Las Chapas (Marbella) by Platinum Estates investment group, prove the rising interest of foreign investors in Marbella and Costa del Sol. It should be considered that, until now, the Hong Kong investment group mainly invested in London and Hong Kong. The transaction cost 50 million euros and is the first step in a construction project of a hotel complex of luxury villas with a value of 200 million euros.

On the other hand, the Chinese group Wanda has shown interest in Marbella, whilst the English company that owns La Zagaleta Club in Benahavís has bought the Sotogrande Valderrama golf course, as well as the “Valderrama 2” country club construction project.

All those mentioned above also include Saudi investors like the Cayan Group who announced that they will carry out a project in Costa del Sol, this being one of the first expansion projects in Europe.

In recent years, Marbella’s real estate sector is experiencing a notable increase with a constant demand for exclusive apartments and high-end villas, especially newly constructed properties in prestigious areas. If you would like to acquire a luxury property in Marbella contact DM Properties and we will advise you.

Tags

Did you like this article?
Subscribe by email to be notified of new updates
  RSS  
YOU MAY ALSO LIKE