Days ago, we unveiled the first part of this captivating interview delving into Panorama Marbella, offering intriguing insights into the real estate segment along the Costa del Sol. Today, we bring you the second part of this compelling discussion.
What is the buyer and seller profile that works with Panorama?
While the sale and purchase of homes by Spaniards are always present, representing the foundation of the Marbella real estate market in general, at least 90% of homes priced over 2 million euros are sold to foreigners.
In the Autonomous Community of Andalusia as a whole, 15% of home purchase transactions were carried out by foreigners, and this figure more than doubles to 34% in the province of Malaga.
By nationality, the British continue to be the main buyers in the province of Malaga, accounting for 16% of total transactions, followed by the Swedes and Dutch at 12% and 8%, respectively. Close behind are the Belgians, French, and Germans.
LA ZAGALETA REF PANR-14171, AN EXTRAORDINARY MANSION IN LA ZAGALETA
It’s worth noting the rise of the Swedish and Norwegian markets, which have gradually increased their market share in recent years. On the other hand, in the last two years, there has been a strong emergence of the Polish market, as well as buyers from Eastern Europe, undoubtedly motivated by the war in Ukraine, but also for the same reasons as most other buyers: the desire to change their lifestyle to a warmer climate in an area with a high quality of life in the southernmost part of Europe, away from the potential problems and dangers of Central Europe.
Marbella has also been and continues to be one of the favorite destinations for tourists from the Middle East who have been buying homes in the area since the late 1970s. Nowadays, many consider buying a home not only for their vacations but also as a means to obtain the Spanish “Golden Visa.” Currently, there are direct flights to Malaga from Bahrain, Abu Dhabi, Qatar, Egypt, Turkey, Kuwait, and Saudi Arabia during the summer season. Since early 2022, the significant strengthening of the dollar against the euro has notably encouraged American citizens to acquire homes in our area, attesting to the spread of Marbella’s popularity throughout the world. United Airlines now offers direct flights from New York to Malaga, a true reflection of this growing interest in Marbella and the Costa del Sol in general.
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What achievements in 2023 can you share with the readers?
Remaining leaders in the industry after 50 years, we believe, is an achievement in itself, and after the historic year for the Marbella real estate sector in 2022, we have used 2023 to: launch a new, more updated website maximizing the user experience, expand our team to 30 professionals, including new additions to the sales and acquisition departments, and celebrate the 20 years of our magazine, The Marbella Property Magazine, which marks 20 years since its first publication.
As mentioned earlier, the main achievement is to continue adding years without losing a bit of the enthusiasm, courage, and values that have identified us since the opening of our first office in Marbella in the 1970s. Many things have changed since then in Marbella, but the satisfaction of being able to continue offering personalized and quality service to our clients year after year is what makes us proud. We are passionate about our work, and that is our greatest achievement; it makes us feel fulfilled and fortunate.
How has the impact of real estate market trends in Spain affected Panorama’s performance during 2023? Have any particular challenges or opportunities arisen in this environment?
The impact has been exceptionally positive. Branded Residences, a product of collaboration between prestigious brands and renowned, sophisticated developers, have been well-received. This collaboration benefits all parties involved: the brand gains from extensive advertising, license fees, and customer loyalty. The developer benefits by differentiating their product, reaching a broader clientele loyal to the brand, selling at a premium due to brand prestige, and assuring buyers of a high-quality, brand-associated product. Buyers benefit from meticulous attention to detail enforced by the brand, exceptional world-class design and finishes, brand prestige, and increased rental potential.
Grupo Sierra Blanca, led by Pedro Rodríguez and his sons Carlos and Luis, currently leads the Branded Residences sector in Marbella. They introduced the concept with the success of Epic by Fendi (Epic Marbella by Fendi Casa) and Karl Lagerfeld Villas. Recently, they announced a partnership with Dolce & Gabbana for their new project, Marbella Design Hills, a substantial project with around 90 high-quality apartments, a commercial square with shops and restaurants, all built on an 80,000 m2 plot near their previous two projects. While these projects present challenges for all involved, the continuous collection of information on differentiating details is an opportunity. Collaborating with them on large-scale, internationally recognized projects is always an opportunity for us, contributing our expertise.
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Can you provide examples of iconic properties you have sold this year?
As mentioned earlier, Panorama dedicates all its resources to every real estate transaction, regardless of its size or characteristics. Our success is not limited to iconic properties or operations that may have taken more or less time, but rather to ensuring that all parties involved receive superior service.
While negotiations may take longer for various reasons or property legal issues may complicate a deal, our agency excels in completing operations harmoniously even in complex situations. Although we respect and protect our clients’ data, we closed the year with the successful sale of a prime area apartment for €8,500,000, a villa above €9,500,000, another for €16,000,000, and two investment plots for €10,000,000 and €15,000,000, among others.
LA ZAGALETA REF R112-09267 – IMMENSE VILLA IN SOUGHT-AFTER URBANISATION
What innovative strategies or approaches have you implemented in 2023 to adapt to the changing needs of property buyers and sellers in Spain?
Innovation and strategies are crucial. Small changes can yield good results quickly, and our company invests time and financial effort in innovation, development, and marketing. For instance, we recently launched our new website, a project we had been working on for some time. In this case, we aimed for a website not only ready for current client demands but also prepared for new functionalities we anticipate in the near future. Establishing the infrastructure to adapt instantly to the digital era, where new tools and possibilities emerge daily, including those offered by artificial intelligence, is a challenging but necessary priority. We are also present on social media platforms like Instagram, Facebook, LinkedIn, and continue to expand our online presence.
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