Marbella is different

Although Malaga is known to be the capital of the Costa del Sol, Marbella has always been recognized as the mecca for the richest personalities that come to the area. It has a world wide name and only that brand by itself is capable of attracting tourists and businesses from all around the globe. Everything is more expensive in Marbella therefore the average level of tourists and potential buyers is higher.

That same situation can be translated to the real estate market of the Costa del Sol. Marbella is the most expensive municipality of the Costa del Sol per square meter and, probably, as a consequence of that and its brand awareness, one of the less affected by the crisis. That is not only a perception but what we can see on the following charts produced from official information published by the Notaries’ Agency and the Ministry of Housing.

It is easy to see. The average price per property in Marbella is more than double the one in Malaga city and more than double than the other municipalities combined.

Furthermore, and I was writing a couple of months ago about the prices in Marbella, the stabilization of the prices can only be seen in Marbella. The prices at the rest of the municipalities of Malaga province are still going down and in some cases quite deeply. Still most of the people, if they can afford it, they prefer to be in Marbella. Therefore, the higher level buyers are coming mainly to buy in Marbella and they are also the least affected by the crisis so more operations and more demand, means that the prices are also less affected. It will be interesting to see how evolves.