80% off-plan developments in Marbella are sold before completion.

80% off-plan developments in Marbella are sold before completion. On Saturday 6th of February Smadar Kahana, Managing Director of Engel & Völkers Marbella, offered her vision on the current status of the real estate market to Diario Sur, in an article focused on new construction projects in the city of Marbella.

In this article, Kahana emphasizes that the speed with which off-plan homes are sold is due to the market tension generated by the low supply of properties in new gated communities, which in turn, are in high demand and as a result have positively generated an increase in sales, with these new developments selling from 80% to its entirety before completion of the project.

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High-end new-build properties

80% off-plan developments in Marbella are sold before completion. El Diario Sur expands the information confirming that the most popular new developments are properties with three or four bedrooms, an average of between 140 m2 and 300 m2, that have a work area, garden, terrace and swimming pool, that privacy and security are a priority, and that the community is located close to all services and shops. In addition, in many cases the property must have the best views to the sea, to the golf courses or both.

Marbella’s real estate market currently offers high-end new-build properties with top quality finishes, modern designs and the latest home-adapted technology. With these characteristics, average prices for apartments, duplexes and penthouses can be found in the €200,000 to €600,000 range, and it is not surprising to find detached or semi-detached properties in the €1,500,000 price bracket. Both options raise their value depending on the area, square meters, features and needs the buyer is looking for.

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The new communities under construction

Currently, according to the article, most of the new communities under construction are in the peripheral areas of Marbella, more precisely to the East, in the areas of Los Monteros and Elviria and to the West, in the area of Nueva Andalucía, but in the last semester of 2020 the most recent exclusive project for Engel & Völkers was launched on the market: La Fuente, a gated community of only 15 luxury villas in the centre of Marbella, very close to the Old Town, the beach, the Golden Mile and the legendary Marbella Club Hotel, thus offering the interested public a unique opportunity to acquire a home in the best location.