Published 14/09/2017 by Carrie Frais

Marbella Real Estate Market Report Q1 & Q2 2017

The Lucas Fox Marbella Market Report for the first half of 2017 shows a significant increase in both the number and value of sales transactions, despite the expected impact that Brexit had on the market last year.

Lucas Fox Marbella has had an excellent half-year with sales transactions increasing by 150% year-on-year.

Here are some of the highlights from the Marbella Market Report for Q1 & Q2 2017:

  • Lucas Fox Marbella sold 150% more homes during the first half of 2017 than in the same period in 2016.
  • According to the National Institute of Statistics, the number of transactions per month in the Málaga Province averaged 2,531 during the first half of 2017, up from an average of 2,281 in the first half of 2016, showing an annual growth rate of 11%.
  • According to the Spanish Department of Development, the total value of sales of new homes increased by 9% in the first quarter of 2017 compared to the same period in 2016.
  • Property prices across the Málaga Province averaged at €1,813 per square metre by the end of June 2017, according to property portal Idealista, showing an annual growth rate of 7%.
  • According to Fotocasa, average rental prices in Marbella decreased slightly during the first quarter of 2017 but still showed an annual increase of 7% at the end of March 2017.
  • Lucas Fox buyers looking for a secondary residence dominated the market during the first 6 months of 2017, with 80% of buyers purchasing property as a second home or holiday home.

“After the impact that Brexit had on the Marbella market last year, surprisingly sales have been strong during the first half of 2017. Whilst it is true that there are fewer UK buyers, and those that there are have reduced their budgets, the market seems to be have been more than made up for by continued strong demand from other nationalities such as Scandinavian, Belgian, Dutch, Middle Eastern and increasingly Spanish buyers.

There has also been a big increase in the number of New Developments on the market and these continue to be the most popular choice for buyers who are increasingly focused on quality, design and energy efficiency. As the supply of new builds has increased the prices of these properties have become increasingly competitive over older re-sales. Despite initial predictions after last year, it seems that 2017 will continue to be another strong year for the Marbella property market.”

Partner Lucas Fox Marbella

Download the Lucas Fox Marbella Market Report Q1 & Q2 2017

Download the complete Lucas Fox Market Report Q1 & Q2 2017

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