Arrival of vaccines opens the door to tourism
Marbella and the real estate market take off!

Arrival of vaccines opens the door to tourism

It is only May and already the summer atmosphere is beginning to invade every corner of this cosmopolitan city. The arrival of vaccinations for the 60 and under generation has finally opened the door to tourism safely and firmly.

Restrictions are now light, the curfew is in the past and we can already see how the nightlife is vibrant again. Seeing people on the streets and in enclosed spaces wearing masks is a reminder that we still need to be alert to COVID-19 but that normality is taking its course.



Arrival of vaccines opens the door to tourismMarbella’s most emblematic places such as Puente Romano, which has managed to hold its own during the worst of times, is now observing how national and international tourism is filling its reservations and is looking forward to a successful 2021 season that exceeds expectations.

Arrival of vaccines opens the door to tourismAt the same time, the sandy beaches along the coast of Marbella will also be preparing to receive the avalanche of tourists to which they have always been accustomed and the most renowned beach clubs on the Costa del Sol, such as Nikki Beach, La Sala and La Cabane, among others, will be happy to attend the most exclusive public returning to the Costa del Sol.


 

Undoubtedly the measures taken by the Junta de Andalucia have allowed the whole region of the Costa del Sol to remain safe with a positive health situation and with an incidence rate of approximately 60 points below the average for Malaga, a situation that translates into a hopeful opportunity to have a season where visitors can get to know a wonderful city and where our owners can enjoy their second home as they have always done.

 

On the real estate market

 

Finally there is light at the end of the tunnel as the official statistics indicate, the March figures are excellent compared to last year, but also look very good compared to 2019, suggesting that the recovery will be even more encouraging compared to the saddest months of the confinement.

Likewise, property sales prices on Spain’s largest real estate portal have risen on the Costa del Sol by 3.1% since last April, reveals Idealista, indicating that the negative predictions made just a year ago were not only unfulfilled but that on the contrary, the Costa del Sol’s real estate sector has grown.

Arrival of vaccines opens the door to tourism

All this is linked to measures that propose to stimulate the Andalusian real estate market with an interesting and temporary reduction of taxes on property transactions and legal acts.

The land transfer tax (ITP) will go from rates of 10 %, 9 % and 8 % to a single rate of 7 %, while the general tax for documented legal acts will be reduced from 1.5 % to 1.2 %.

That said, the reduced taxes applicable to transactions certified before a notary are stipulated as follows:

  • Land transfer tax: 7%
  • Stamp duty: 1.2%

In conclusion, if you are considering buying a property in Marbella this is the best time to do it and benefit from this temporary tax reduction until the 31st of December this year, as well as benefiting from a market that is attracting national and international public due to the positive health situation and if all this was not enough, it is the time to buy before prices go up, because Marbella is THE place to invest at the moment.

Kalinka Hermann | 24/May/2021

Engel & Völkers Marbella logo

Contact us now

Blvd. Príncipe Alfonso de Hohenlohe CN 340 KM 178,2
CC La Póveda, Local 5 · 29602 Marbella · Spain
Phone +34 952 868 406

Email

Sell your property