What continues to be a hot topic on the Costa del Sol: branded residences, here is a report about the category, courtesy of Savills,
It is fascinating to see what is in the pipeline worldwide, particularly that in the non-hotel branded residences category, the Trump brand is 3rd worldwide. It also makes sense that the main players globally are hotel-branded residences, with Four Seasons and The Ritz-Carlton leading the way. Less of a stretch of the imagination in terms of added value than, say, Lamborghini perhaps…
As far as locations go, although this is a global phenomenon, as might expected Dubai and South Florida lead the way. And nope, no mention of Marbella anywhere that I could see, so let’s keep things in perspective, we are small fry in the bigger picture of branded residences…
Always a stat I like to read: Branded residence price premiums, ie what people are willing to pay extra for a branded vs non-branded equivalent.
The magic number is 30% as a total, but it differed depending on location type:
๐ธ Emerging City +52%
๐ธ Resort +32%
๐ธ Global City +24%
Marbella would fall in the “resort” category. “Resort locations tend to be most popular with second-home buyers looking to escape the frenetic pace of life in their home cities,” according the report.
Also thought this prediction in the Savills report was interesting: “๐ท๐๐๐๐๐ ๐๐๐ ๐๐ข๐ฅ๐ข๐๐ฆ ๐๐๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐ ๐ก๐๐ ๐๐ข๐ฆ๐๐๐ ๐๐ ๐๐๐๐๐๐ฆ ๐ก๐ ๐๐๐๐ค ๐๐๐ ๐ก๐๐ ๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐ก๐๐๐ , ๐ ๐ข๐โ ๐๐ ๐ป๐ ๐ถโ๐ ๐๐๐โ ๐ถ๐๐ก๐ฆ, ๐ถ๐๐๐๐, ๐๐ฬ๐ ๐๐๐ข๐๐, ๐ผ๐ ๐ก๐๐๐๐ข๐, ๐คโ๐๐๐ ๐กโ๐ ๐๐ข๐๐๐๐ก๐ฆ ๐๐ ๐กโ๐ ๐๐ฅ๐๐ ๐ก๐๐๐ ๐ ๐ก๐๐๐ ๐๐ ๐ข๐๐๐๐๐๐๐ฆ ๐ก๐ ๐๐๐๐ก ๐กโ๐ ๐๐๐๐ข๐๐๐๐๐๐๐ก๐ ๐๐๐ โ๐๐โ-๐๐ข๐๐๐๐ก๐ฆ ๐๐๐ก๐๐ข๐ก ๐๐๐ ๐ ๐๐๐ฃ๐๐๐๐ ๐๐ฆ ๐๐๐ค ๐ป๐๐๐ผ๐ . ๐ผ๐ ๐กโ๐๐ ๐ ๐๐๐๐๐๐ก๐ , ๐กโ๐๐๐ ๐ค๐๐๐ ๐๐ ๐๐๐๐๐๐ก๐ข๐๐๐ก๐๐๐ ๐๐๐ ๐ข๐๐๐๐ ๐ข๐๐ ๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐ค๐๐๐ ๐๐ ๐๐ข๐ฅ๐ข๐๐ฆ ๐๐๐๐๐ข๐๐ก๐ ๐๐๐ ๐๐๐๐๐-๐๐๐ฆ๐๐, ๐ค๐๐๐-๐ก๐๐๐ฃ๐๐๐๐๐ ๐๐ข๐ ๐ก๐๐๐๐๐ .”
So if Malaga City fits that description of an emerging city, it suggests there could be interest from domestic market in the city and not just international buyers as we tend to assume?
Anyway, dive into the report, at 11 pages it is far more digestible than many of the others I have laid eyes on..
