Marbella’s high-end market is booming!
03 June 2021
Director of Alanda Properties
3rd of June 2021
The new tax changes that were put in motion by Andalucia’s regional government since 2019 on inheritance tax have fostered foreign investments. Particularly the new tax changes we reported back in April 2021, that lowered both Property Transfer Tax (resales) and Stamp Duty (off-plan property), have had a great impact on the higher-end of the market.
In fact, so much so, that multiple villas at exclusive gated resorts such as Sierra Blanca and La Zagalata have sold this year with price tags over 20mn euros, as we’ve pointed out previously. This in turn has trickled down the market fostering sales of villas in the million range.
The ongoing Covid-19 pandemic, in tandem with the new regional tax changes, has created the base of this upsurge in the sale market.
Covid-19 has changed the habits of buyers, as they now seek ample spaces, secluded gardens, or large terraces. This translates into luxury rural properties and large villas with plenty of space being highly sought after.
The new tax changes, as reported by some lawyers, means the tax-savings of buyers grow exponentially in line with the sale price. In other words, the more expensive a property is, the more buyers stand to save in taxes. For example, on a 500,000 property the tax saving is 15%, yet on a 3mn euro villa the tax saving is now a whopping 27%! That is quite a lot of money buyers can save themselves!
These two factors acting in tandem help to explain why Marbella’s luxury market is currently spearheading the real estate market recovery.
Contact me at Alanda Properties for bargain-priced property or long-term lets in Marbella and the Costa del Sol. You will be surprised to learn the deals this new market has to offer on prime locations.
2.021 © All Rights Reserved.