The luxury real estate market in Marbella and Benahavís is doing better than ever. Looking at the data of closed transactions for different price ranges in the luxury market segment obtained from the Land Registry, and taking into account that the closed transactions numbers for 2021 are only for the first six months of the year, it is easy to obtain that fast conclusion. The detailed numbers can be found on Chart 1 for Marbella and on Chart 2 for Benahavís.
CHART 1 - NUMBER OF HOMES SOLD IN MARBELLA 2nd QUARTER 2021
Looking at the data for Marbella, you can reach two main conclusions: Firstly, transactions will probably almost double in the high price segment compared to previous years if the market continues at the same pace during the second half of the year and will easily surpass the figures of the last years for properties between 1M€ and 1.5M€. The second conclusion is that the number of transactions closed between 1M€ and 4M€ is almost the same as between 1M€ and 1.5M€, following the trend of 2020.
CHART 2 - NUMBER OF HOMES SOLD IN BENAHAVIS 2nd QUARTER 2021
The figures for Benahavís are truly amazing. In the first six months of 2021 there are already about 30% more closed transactions in the range from 1,5 M€ to 4 M€ than there were in previous years. We have already reached the historical maximum in Benahavís for that range and only half of the year has been accounted for. For the other two ranges, from 1 M€ to 1,5 M€ and 4 M€ upwards, we have not yet reached the number of closed transactions we had in 2018, but if the trend continues, we are also going to see the historical maximum in those two ranges.
The luxury real estate market in Marbella and Benahavis is hitting maximums this year as a post-pandemic effect. Marbella and Benahavis are the perfect places to enjoy life outdoors all year round, which also prevents covid transmission, and that attracts wealthy Europeans looking for a better quality of life.