According to Premier Marbella news sources, real estate experts are pointing to a moderation of property sales in Marbella. The instability of the Urban Planning after the cancellation of the PGOU (General Urban Planning) of 2010 is definitely one of the reasons why property sales have slowed.
Experts in the real sector on the Costa del Sol are commenting on a slowing in the pace of purchases and the prices of homes in Marbella and the other affluent areas of Golden Triangle which include Benahavís and Estepona. The oversupply directed to the same buyer profile, the uncertainty generated by the Brexit and the future of the relations between Great Britain and the European Union coupled with the slowdown of the international economy are contributing to a slowdown of the sustained growth in the real estate market that began in 2010 .
A major factor that has also cooled sales in the municipality is the fact that Marbella is in the process of resolving its General Plan of Urban Planning. In 2015, the Supreme Court annulled the General Urban Planning (PGOU) of 2010 and the Municipal Corporation had to revert back to the planning of 1986, which is now more than 30 years old. The municipalities adjoining Marbella, Ojén and Mijas have approached the new property boom with interesting ideas offering promoters and clients a wide range of product and price options to meet their needs. This has allowed them to absorb much of the real estate development of the Costa del Sol.
Leading Marbella property specialist Romano Keogh commenting that the uncertainty about Brexit has put the ‘brakes on’ with buyers from the United Kingdom, which despite being the majority in Marbella and the rest of Spain account for 15 percent of sales compared to 21 percent a couple of years ago. The drop-off has been offset by a pick-up in domestic buyers, especially from north European countries, like Sweden, Norway, France, Belgium and Holland all with solid economies that find an affordable destination on the Costa del Sol.
Premier Marbella, offering over 25 years of dedicated service to the Marbella property sector, specialists in luxury properties, villas and apartments for sale in Marbella, The Golden Mile and other areas of the Costa del Sol.