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La Fuente, proving popular with Spaniards

Spanish investors drive up demand in Marbella luxury property market

The current health crisis has had an unexpected side effect. The latest data from international real estate company Engels & Völkers shows an increased demand from Spanish clients, making up 52% of buyers during the penultimate quarter of 2020, compared to 24% in 2019.

The real estate company maintains its optimistic forecasts for the next few months. It thinks that new restrictions may consolidate this change in the market, and underlines the 18% increase in sales since July, with the end of the lockdown, and the beginning of October compared to the same period last year. La Fuente in the centre of Marbella (pictured) is also proving popular with domestic clients.

“We have seen more families planning to permanently move to Marbella or people looking to spend more time in their properties,” says Smadar Kahana, Engels & Völkers Marbella director “We believe that Covid 19 created a new type of clientele who realised that much of their work can be done remotely and prefer to live in a greener place with a better climate,” adding that they have had various clients who traveled to Marbella with the sole purpose of purchasing a property and did so in the space of 24 hours.

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