Marbella, Estepona and Benahavis are the top locations in real estate market in Andalusia
The Golden Triangle are the municipalities of the Costa del Sol that have more movement in the real estate market, and is comprised of Marbella, Estepona and Benahavis. The real estate market in the area is completely dominated by mainly European foreign buyers. The buildings here are highlights from the rest of Spain for its luxury and exclusivity, besides having a privileged location overlooking the Mediterranean, and surrounded by numerous golf clubs, making him also winning the nickname of the Costa del Golf.
The market in this region is the most representative of the entire autonomous community of Andalusia, and aims to establish itself as a brand that is recognized worldwide by the lifestyle that you can enjoy, and that makes it one of the destinations most demand in both Europe and the world for luxury properties in Costa del Gof.
Authorities in the region have focused on developing and promoting complex constructions that suit the characteristics of the area, either by their environment, climate, glamor and luxury, which attract more and more investors. For these reasons are world known areas of this region as the Golden Mile, Puerto Banus, La Zagaleta, Los Monteros among others.
We will describe the three municipalities that make up the Golden Triangle mentioned the Costa del Sol:
Marbella: the jewel in the crown
Marbella is located in Andalucia and belongs to the province of Malaga and has an extraordinary climate that averages 19 ° C throughout the year with 300 days of sunshine. Therefore, since the 50`s, many European tourists have chosen as a destination for vacation and to invest so as to have a second home.
Some of the most exclusive properties in Spain are located here, such as Puerto Banus, which has become a symbol in Marbella luxury and exclusivity, where yachts, restaurants, shops, nightclubs and leading hotels in the region meet. Therefore it receives annually about 5 million people who come to enjoy the attractions. The price of a luxury apartment in Puerto Banus can reach up to 1.5 million euros in the most exclusive resorts in the area, however; it is also possible that they are by lower priced around 250 thousand euros, but would not have the same view and luxury as above, it is also necessary to note that the closer is at the center, the higher the value of the property.
La Zagaleta is one of many examples of luxurious developments in the city. This has golf club and equestrian club completely private, where properties are mainly mansions in some cases even with helipads, those are some of tthe reasons for investing in this area. For all the above, the property prices are quite high, and the closer you are on the coast, the higher the cost. Being close to the coast, property prices start at 400 thousand euros and can cost several million euros.
Guadalmina Baja is another highlight areas. It has a privileged location being close to both Puerto Banus and Estepona and San Pedro de Alcantara. The resort began its development since the 60s and was revived in the 80s, and continues until now. To this it is added that owns a golf club belonging to Hotel Guadalmina which overlooks the sea.
Most properties in the area is large mansions and luxury villas are priced at several million euros. Other smaller properties can also be found, near 8th Street, with prices starting from 450,000 euros. If what you want is an apartment, like most buildings are in lane 3.
Estepona special for families
Estepona in much more traditional than neighboring Marbella, which is known for luxury and exclusivity. Although Estepona receives a large influx of foreigners, it maintains its character of Spanish village with wineries, tapas and even more frequent round horses carts through the narrow streets to see. All this makes entertainment for foreigners and own much cheaper than being in the cosmopolitan Marbella.
Estepona has a variety of properties ranging from traditional villas, to luxury villas, apartments and houses. It should be noted that this town is just 10 minutes drive from the city of Marbella, so many people choose it as a place to buy your property as properties are achieved by much lower prices and service costs also lower.
The new Golden Mile, is the most exclusive site of the city, but you can get other very good quality at lower prices as paradise where you can buy both villas and town houses, La Cancelada, among others. Also, Estepona has several golf courses for those fans of this sport, they are: Atalaya, Atalaya Rosner, El Campanario, Coto de la Serena, Estepona, El Paraiso, resin, and Valle Romano.
In total over 5,000 properties have been sold, representing a 66% increase in the province in relation to 2013. Compared to 2008, then about 7,500 home sales, which was performed the best sales year in the city.
Foreign citizens are encouraging the market. More and more foreigners who acquire properties on the coast or in inland areas, mainly British, German, Scandinavian, etc. In the first quarter of this year more than 2,000 transactions with persons from other countries were given. This now accounts for 40% market share and is almost 81% more than the previous year.
Benahavís the region`s dining room
This location is prefect for those looking for a property in a quiet place but that is not isolated, and also can enjoy both a valley and the coast. In addition, still it retains the essence of people because of its small streets, but as data in particular are full of numerous restaurants, which has made it known as the dining room of the Costa del Sol.
are located in very exclusive residences with golf clubs or country clubs, having on hand all that is required to lead a quiet life with green meadows combining sea breeze.
There are also other options for other people looking for an apartment or town house, more affordable prices, but the cost will vary according to the area and may be between 250,000 euros and 450,000 euros, apartments with 2 or 3 rooms in developments such as Los Flamingos.
Due to the growing real estate market in the region, new developments have their sights set on being built in this county, and it is a perfect time for investing according to the real estate expert Ignacio Acosta. An example of this is a series of luxury apartments to be built as close to the golf properties. The properties offered are modern, mostly two rooms, and prices are between 240,000 euros and 390,000 euros. They also have the advantage of being only 10 minutes from Puerto Banus and 5 minutes from San Pedro de Alcantara
Who invest in the Golden Triangle?
– British: His main interest is to enjoy the weather in a rest home or retirement, they are also motivated by the excellent airport connections between Spain and England, and that remain close to family and friends. Currently still at the top of purchases by foreigners and continue to rise. Between 2013 and 2014 the growth was 27%.
– French: Their presence has been growing mainly due to improvements in roads both roads, highways and airports, allowing greater opportunities to move between France and the Costa del Sol therefore rank second in purchases and 2014 experienced a 15.8% growth.
– Scandinavia: Nordic are mostly older adults with a good economic position come to enjoy excellent beaches and climate being close to their home countries. They are a market that is growing and has seen major increases in purchases in the area, which in 2014 bought about 5,000 properties for these citizens totaled.
– Germans: They enjoy coming to Spain with his family to enjoy the sun, accompanied with a famous cuisine worldwide and with the security of being in a country of the European Union. The Germans are positioned in third place shopping estate by foreigners during 2014, with a total of 2963 properties acquired in the region. His extraordinary economy has favored investing outside to escape the raw climate prevailing in their country.
– Belgians: They love golf, why are big investors in Marbella where besides enjoying the beaches of the Mediterranean. Always accompanied by their families.
– Russians: They are fans of luxury, quality of life that exists in Spain and its culture. They have been affected by the restriction to invest that exists in their country and have therefore chosen to apply for the Spanish residence, and set their retirement homes in the country. The US economy has weakened in recent years, however, they remain recurring buyers in the region, and are characterized by high luxury properties.
– Chinese: Asian rather than walk or relax on a beach, prefer to do shopping tourism, ie visit cities where there are lots of shops of the largest and most famous brands of all types of articles worldwide. Marbella is presented as an excellent choice for this type of investors due to the characteristics of the city. Stores in major fashion brands in the world are here. His contribution is still small but it is expected to grow as in the rest of Spain.
What is expected for the future of real estate in the region?
The demand for real estate in the region has remained fairly in the type most desired properties, as the main criterion for choosing homes are new designs with electronic devices that have been achieved in recent years. The trend are apartments with shared as swimming pools, gyms areas, and guaranteed security.
Since 2014, major construction companies have been buying the best land available at good prices, for the start of new developments on the Costa del Sol, mainly in the municipalities of Benahavis, where it plans to build family villas. Therefore, large investment funds are interested in placing their capital here, also joined in increasing license that has occurred since 2009 has been 77%.
Projections made for 2016 where an increase in prices from a range of 3 to 5% is expected, which may vary to areas of greater tourist and real estate activity in the Costa del Sol, ie, Marbella where you can reach increase in property values up to 10%.
Written by: CAPD
Contribution to reader: To inform the reader that municipalities make up the golden triangle of the Costa del Sol, explaining its real estate properties primarily with who the main buyers in the region.