This is a lovely family villa with a traditional Andalusian style, within the renowned urbanization of luxury properties, Sierra Blanca. With an excellent location above Marbella, only 3 km from the ...
Buying a Marbella home – new or resale?
Interest in Marbella properties has skyrocketed this year- led by the upper segment and driven by a demand for the region’s sweet lifestyle that has only been heightened by the recent Covid experiences. Suddenly, quality of life is more important than ever, as are its now greatly cherished ingredients of time, space, nature, warmth and freedom of movement – all things for which the Costa del Sol is rightly famous.
The focus here in Marbella has always been on its Mediterranean shores, golf courses, sports facilities, leisure infrastructure, professional services and vibrant cosmopolitan environment, but increasingly it also includes the rugged beauty of its hinterland that is being discovered – ranging from vineyards and sleepy villages to historic towns and protected mountain reserves.
But, if you’re hooked on the Marbella way of life and wish to buy a property here for part or all of the year, then one of the questions that will arise is what kind of property to opt for – newly built or resales?
New vs Resales
To begin with, there is clearly more demand for new-built homes right now, for a variety of reasons, including the architectural styling, open-plan interior layouts, up-to-the-minute technology, comforts and also kitchen and bathroom styles, not to mention home automation, technical and leisure standards, as well as energy efficiency and easier maintenance.
If these are the advantages of new versus resales, then the factors balancing this trend are the fact that new developments almost ready to move in to are scarce relative to demand, and that this is driving prices upwards. As a result, nominal prices of modern property for sale in Marbella is higher than that of existing properties, which are also more readily available, and this becomes even more pronounced when you consider the price per square metre.
Countering that is the fact that most resale properties would require some degree of modernisation, and this has to be factored into the price, but as you’re buying from private owners and not (as is usually the case) from the developers in what is a bit of a seller’s market, existing properties do offer far greater scope for price reductions. This also opens up the possibility for the renovation or even rebuilding of homes in top Marbella beachside or frontline golf locations.
A third option
You see, there are pros and cons to both, as resale properties also tend to be larger and set on more spacious plots, but also frequently find themselves in gated communities, and so it goes on. If this seems a lot of information to take on board and into consideration when looking for property to buy in Marbella, then you might also want to consider a third option: recently refurbished, modernised or entirely rebuilt properties set in one of those great locations.
In many ways they fall in-between the other two options, offering a blend of traditional and modern styles and amenities, quality marble and wood materials, larger interior and exterior space, and various degrees of home automation—and of course they are not produced in large numbers, so do offer quite an opportunity.
Ultimately, as always, the true choice depends not only the property type but the buyer, and in this way it is a self-selecting market. For instance, contact us for modern properties if you like the latest styles and amenities, and wish to move into something up to the minute that is ready pretty soon; or let us show you some beautiful homes in top Marbella locations if you value more space, individuality, traditional charm and the chance to modernise such a home and blend the best of past and present.