Our director, Pia Arrieta, recently appeared as a guest on the authoritative Knight Frank #IntelligenceTalks podcast, which calls on leading industry experts to discuss the finer details of the real estate business, covering everything from financial and legal aspects to design, architecture, urban planning, construction and engineering to consumer trends, market information and many more of the multi-varied aspects that together make up the property sector.
Pia, who is the director of Diana Morales Properties/Knight Frank in Marbella, spoke about the state and prospects of the Spanish and Costa del Sol property market post-Covid period, as Europe moves out of lockdown. She also provided information about the future of city living in Spain and why there has been such as strong revival in demand for Marbella properties since the confinement period was gradually lifted.
Expert analysis from industry leaders
Knight Frank’s research information such as the Spain Covid-19 Report was shared, as well as official indices, property price movements, sales figures and most importantly, market and consumer trends, which are likely to have a major impact in the months and years to come. The participants confirmed that, after a slow start to 2019, the year recovered and 2020 started strong, before the Coronavirus lockdown slowed down economic activity.
Since the gradual easing of confinement restrictions began and both national and international visitors were once again allowed to travel to the Costa del Sol and other tourist and real estate markets in Spain, there has been a strong revival in demand – in the case of DM Properties/Knight Frank a 300% increase in enquiries in July – that can be traced back to the impact the Covid-19 crisis has had on people. Many are no longer putting off decisions to buy holiday homes or relocate to quality of life destinations such as Marbella.
It was also made clear that the current situation is not related to the financial crisis that began in 2008, as there is now no global or regional financial/economic crises and also no property bubble and glut of housing product. What is emerging is a new approach to work and living, and Pia confirmed that DM Properties/Knight Frank clients are more than ever looking for spacious homes with gardens or large terraces, private locations with views that are, however, also close to amenities, as well as the possibility of working from home or nearby co-working centres.
Villas and country properties are the new in-vogue property type, as privacy, space, safety and the ability to create a private home oasis are now very important factors for holiday and residential properties in Marbella, and it’s a trend that started in the top end of the segment as early as April, when lockdown conditions were still in place.
Contact our team at DM Properties/Knight Frank for personal information about the latest trends and Marbella real estate market information.
Click on one of the links below to hear the full podcast and how the Spanish property markets are faring as Europe moves out of lockdown, the future of city living in Spain and what are the forecasts post-Covid.