Local leading agency Panorama Properties Marbella has just published its annual market report. This along with the one published by DM Properties – Knight Frank (they published theirs in June) are two of the most awaiting market reports and one which is picked up by the press and carries some weight.
These are my takeaways:
🔹#Marbella’s “low season” has ceased to exist
🔹An ‘explosion’ of €4m+ sales
🔹Property prices will continue to rise
🔹Building licenses for more than 1,000 properties were granted in the course of 2021 in Marbella
🔹85%-90% of buyers of luxury properties are foreign
🔹Today’s typical buyers are younger and trendier (their word not mine)
🔹A shortage of quality long- term rental properties
𝗧𝗵𝗲𝗶𝗿 𝗰𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻: Demand will continue to be strong. There is no sign of abatement in the demand, quite to the contrary, we expect the historic strong demand which we are experiencing today to continue in the immediate future and to gently decelerate in 2023.
So there it is. Here is a link to the piece on their website here
𝗠𝘆 𝘃𝗶𝗲𝘄: I agree with most of it, but I think that although the high end of the market will remain strong, it will most definitely slow down considerably during Q3 and 4 in terms of transaction volumes. The shortage of supply is creating a false sense of the size of the demand.