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Age of average high end buyer falls, says Engel & Völkers

The Marbella luxury property market is attracting younger buyers who want modern houses.

That’s the message from leading real estate agency Engel & Völkers at the launch of ‘The Collection’ last week.

“The Golden Mile has always been the most prestigious address for a second home for the European clientele” explained Smadar Kahana, CEO of Engel & Völkers Marbella “In recent years,however, we have seen a new trend of younger clientele with an average age between 35 – 55 years old, who are searching for a modern style, contemporary design and the latest trend of material and amenities, of course in the best locations on The Golden Mile preferably around the vibrant Puente Romano Resort.” “This indicates a rejuvenation of one of the most exclusive addresses in Marbella and Engel & Völkers is proud to exclusively present ‘The Collection’.

‘The Collection’ is a project that meets the demands for new housing construction for this clientele with 26 luxury semi-detached villas that will start construction this month. “Over the past two years, Marbella has lost a lot of investments and now that licensing has been granted, we hope that this promotion will be sold in just a few weeks,” says Kahana.

“Most buyers do not want 20-year-old houses. They are looking for modern, organic designs, integrated into their environment and in the best possible location”, she continues. “At this moment in time there is no similar villa project on the Golden Mile except for ‘The Collection’”.

‘The Collection’ is located just 400 metres from the celebrated Hotel Puente Romano and a short walk from the Mediterranean – at the centre of everything an international investor is looking for. Architects González Jacobson use natural materials such as wood and stone in order to give a feeling of warmth to these semi-detached villas.

In recent years, clientele from central and northern Europe have taken precedence in comparison to other nationalities such as Arabs or Russians. Belgians, Germans, British, Norwegians and Swedes are the main buyers of luxury homes according to the internal study of Engel & Völkers. To achieve the supply for this demand in the best locations in Marbella the goal should be: high quality homes, close to all services in price ranges ranging between 500,000 and 1.000,000 euros for apartments and 1.000,000 and 2.500,000 euros in the case of villas.

‘The Collection’ will have a market value of 30 million euros, with prices from 1,125,000 euros. This is a unique investment opportunity given the scarcity of plots in this coveted corner of Marbella.

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