It follows the same path as we have had in the last four years: down. It can be seen on the tendency lines shown at the chart.
The data also show an increasing differentiation between Marbella and Estepona. While Marbella is, although going down, on a much lower pace, the prices in Estepona are dropping dramatically. The rates are 3% in the last semester for Marbella and 11% in the same period for Estepona. Buyers prefer to buy in a more consolidated, appreciated and secure, from the investment point of view, location like Marbella that, in spite of the crisis, is still maintaining its reputation. Sellers in Estepona are forced to reduce the prices a further step down to be able to compete, basically on price, with their competition of Marbella. Marbella is still Marbella and location is still an important factor when buying a property.
