3 February 2016 – El Mundo
All the agents of the Spanish real estate market agree on stating that 2016 will be the year for the real estate recovery to settle down completely in Spain. One of the markets that reflect so perfectly is Marbella (Malaga), where an increase in the number of operations involving luxury properties has been observed, as declared by Lucas Fox, a real-estate agency specialised in top-quality market.
According to the Association of Architecs of Malaga, in 2015 492 planning permissions were authorised in Marbella. This town has presented a new-work property demand that exceeds supply.
Such new luxury dwellings are the most wanted, and most of them get sold in few months after release. Lucas Fox Marbella sale prices were positioned around 3.5 million Euros in 2015. Their most significant sale was to a US purchaser who bought a 12.5 million-Euro property in the exclusive residential area La Zagaleta.
And Marbella still remains one of the most appealing Spanish markets, particularly for the foreign investor. According to Stephen Lahiri, director of Lucas Fox Marbella, this destination “remains to be a favourite for many customers from the north of Europe, specially United Kingdom, Benelux and Scandinavia.” This reflects on the increase of foreign purchasers, whose profile is changing, since “there are ever younger and focus even more on lifestyle, design and quality”, adds Lahiri.
Lucas Fox opens new branch due to growing demand
As a response to such property demand resurgence in this popular Spanish area, Lucas Fox has recently inaugurated its sixth Property Lounge in the luxury district of Nueva Andalucia. The office will operate in luxury areas in Marbella and the surroundings regions, in addition to emerging zones such as Estepona and Benahavís.
“Since its conceiving in 2013, Lucas Fox Marbella has turned into an essential part of overall business,” adds Lahiri. “Our new Property Lounge reflects the need to place the good-quality property demand resurgence in this popular location in Spain,” he states.
Original story: El Mundo
Translation: Aura Ree