OUR BLOG
The property market situation
The COASTAL PROPERTY REPORT by TINSA Research provides a detailed analysis of the existing Spanish coastal holiday property markets. The latest report, which covers the first three months of 2021, comments on the most interesting aspects of the market situation and prices. As regards the area between Marbella and Manilva the most significant data are the following:
Municipalities included
Marbella, Estepona, Casares, Manilva
General situation
The market shows increasing levels of activity following the significant recovery in the First Quarter of 2021.
Prices
Stable in the new-build and resale sectors. Different trends in the first- and second-home markets, the latter being predominant and realising greater activity. The holiday rental sector has maintained its prices in recent months without significant changesto the traditional market.
Multi-family holiday lets:
Prices range from 2,000 to 3,000 €/M², for properties around 100 M², with 2 bedrooms and of a medium to high quality finish. The most expensive properties were those of a high quality finish, less than twenty years old, and in urban residential areas and on the Golden Mile in Marbella and Puerto Banús, where prices reached 8.000 to 10.000 €/M².
Single-family holiday lets:
Prices range from 3,000 to 4,000 €/M², for properties around 300 M², with 2 bedrooms and of a medium to high quality finish. The most expensive properties were four or five bedroom villas of between 400M² and 600M², with a high quality finish, between 5 and 10 years old, and which were to be found on the Golden Mile, in Zagaleta, Monteros Playa y Puerto Banús. Here, prices reached 12 000 €/M².
Supply
Availability is low. Re-sale properties predominate over new-build. Sales have increased by around 10% and the time taken to sell remains the same. The holiday let market has been sustained over the last 12 months, without there being any significant changes in use to traditional residential rental or reductions in supply.
Development activity
The construction of luxury detached and semi-detached houses and apartments is undertaken by national developers. The planning uncertainty existing at present in Marbella has displaced construction investment to neighbouring towns, especially Estepona, Manilva and Benahavis.
Demand
The construction of luxury detached and semi-detached houses and apartments is undertaken by national developers. The planning uncertainty existing at present in Marbella has displaced construction investment to neighbouring towns, especially Estepona, Manilva and Benahavis.
