Marbella Real Estate Market and Coronavirus

Marbella Real Estate Market and Coronavirus: In the final quarter of 2019, Marbella’s real estate railed both in sale volume and price. 2020 looked promising. Then, coronavirus gripped the world, disrupting businesses large and small in industries ranging from hospitality to housing.

Today, Key Real Estate talks to its Sales Manager, Olga Karakash, to find out the repercussions and effects, how investments will evolve (or not) of Covid-19 in the Marbella’s real estate market.

What’s the Current Situation for Marbella’s Real Estate Market?

Despite a brief interruption during March and April due to the pandemic, the luxury estate marketing in Marbella and Costa del Sol is still blooming. There’s a newfound sense of urgency from buyers. One reason for the urgency is that people are trying to leave the city, whereas Marbella’s residents are looking for villas in which they can hunker down for the long haul. People want to get out of the city, people want to breathe fresh air and be in contact with nature. Marbella has that to its fullest. Now more than ever, quality of life is important to people.

“We’ve seen COVID-19 accelerate some trends that were already evident in the market.”

While the professional world as we knew it is changing, and people are now adapting to work from home, one thing is certain: buyers are far from changing their mind, they want a house in Costa del Sol.

This new COVID-induced ‘work from home’ phenomenon is fuelling much of the uptick in high-end property sales in vacation destinations. Clients are now looking for luxury villas in where they can have unique experiences from the comfort of their own home. Working from home while you enjoy life in paradise, that’s what makes Marbella so different. With its majestic properties with huge plots, privacy, sea views, and every possible comfort who wouldn’t want to work from home?

The Marbella Real Estate Market for Future Buyers:

In order to understand Marbella’s situation, we need to separate the market in two groups. It is true that the Marbella real estate market saw some changes during the outbreak of COVID-19, but the luxury real estate market is strong. While high-end homes seem to be selling, lower-priced property outside Marbella have had a harder time. 80% of Marbella’s luxury real estate segment comes from foreign investors and buyers, actively looking for plots and investments opportunities. The equation behind this statement is simple: people are looking to nestle in houses where you can have every commodity at the palm of your hand. Proximity to amenities is not as important as once was, with the boom of delivery apps you can have anything delivered at your front steps in matter of minutes.

Mountains, Beach, Privacy:

These 3 concepts seem to be the fundamentals of the new trends in the market in Marbella. With sales growing by 1,2% the second quarter of 2020. Mountainside properties in Benahavís, Nueva Andalucía and Golden Mile have showed a significant increase, whereas if we compare it to last year’s petitions, it’s a completely different situation. Marbella Real Estate Market in 2020 has shown a 15% increase in sales operations, a significant increment considering the global situation.

One thing this year has showed us is that there’s no place like home. And Key Real Estate understands that. Today we list some of Marbella’s and Costa del Sol’s most beautiful and unique properties.

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