The luxury real estate market in Marbella, one of the most sought-after regions in Spain, is experiencing an unprecedented boom, despite of the international situation and European instability. The trend started with the pandemic towards a greater investment in the real estate market of very high range together with a client profile that seeks a better quality of life and who sees in Marbella the ideal destination to spend long periods of time or live permanently.
This is one of the main reasons why the leading real estate company Engel & Völkers has announced the opening of a sixth office in Marbella, the second on the Golden Mile, aimed at the most exclusive clients and the segment the highest market and looking for “the best properties in a location second to none”. With these words Smadar Kahana, director of Engel &Völkers Marbella, argued the opening of the new and elitist office that will have as main objective to provide an exclusive service to the premium customer who sees in Spain a safe haven, with good weather and away from current conflicts.
Engel & Völkers is the only real estate agency with a total of six offices in Marbella, a bet that is supported by the latest data from the Registrars of the Property indicating that the foreign demand for properties in Spain reached an all-time high in the third quarter of 2022 with the record figure 15’9% market share.
Some figures that are especially good in Marbella where Kahana points out that “We have sold luxury developments such as Benalús or La Fuente in record time and we already have a lot of reservations for ongoing projects such as the Earth promotion, which is located in the best area of the Golden Mile and will be the most luxurious apartment complex on the current market”. In these results, the work “hand to hand” stands out, of the Department of Development with the promoters themselves, to whom Engel & Völkers Marbella advises on issues ranging from the best qualities for the properties, up to the choice of the name of the development itself. A task of which Kahana feels proud of and which, she considers, is one of the keys to your success.
Engel & Völkers is the only real estate agency with a total of six offices in Marbella
Marbella, unsinkable ship
Good news for the Marbella town that according to Kahana is not suffering any recession in real estate since they are registering “figures reached in record time. While the world is in recession, Marbella is benefiting from many Polish, Romanian or Estonian clients fleeing the conflict zones to invest in our city” added the Director.
Until November 2022, the Marbella real estate sales figure exceeded 380,000,000 euros, data similar to those registered in an already historic 2021. And add that the current office on the Golden Mile is the first sales office in the entire the Engel & Volkers in Spain. It is precisely these high sales recorded especially in recent 24 months that have driven the expansion of Engel & Völkers in the city, where they have noticed a very important growth in clients that search in Marbella properties above two and even ten million euros. In fact, in 2022 has closed more than 300 property sales between two and ten million euros and some eight sales of more than ten million, being the most expensive villa worth 21 Million.
The Management also points out that they have registered an increase in German clientele something that they affirm is “due to the origin of the company and 80% of brand recognition we have in German-speaking countries.” Thus they add that the current results mark “a relatively large percentage of German clientele. A market that the British and Scandinavians continue to lead, but where other nationalities such as Belgian, Polish, Estonian or Bulgarian are charging each more and more weight, investing in homes to live in and not just as an investment.
Leading professionals
Kahana also wanted to focus on the team of professionals who develop his work at Engel & Völkers highlighting especially “the brilliant work of marketing, carried out by the Chief Marketing Officer (CMO), Giuseppe Cuneta, who is focused in the highest part of the market” and has a magnificent trajectory behind him with years of experience in firms such as Ferrari, Benetton or Technogym. In addition, she was especially proud to count among their ranks with the Best Sales Agent in Spain, Alfredo Migueles and the number three globally, Thomas Ajtony.
