The Average Price of New Property in Marbella Grows by 6,2%

The average price of new property in Marbella grew by 6,2% during the first semester of 2006 and by last June had reached 2,382 Euros per square meter built, according to the figures given by the Sociedad de Tasacion.

This rate of growth is below the average increase that has taken place in towns with more that 100,000 inhabitants, which are not province capitals and who have experienced an average growth of 8,2%. Marbella is still among the Spanish coastal towns with the highest property prices, more than other towns in Andalucia and the Valencian Community, and only surpassed by Catalan towns such as Sitges or Viladecans. Among the 21 cities, none of them province capitals, on which this study was based, Marbella was among the least expensive and cheaper that places such as Badalona, Sabadell, Tarrasa or Leganés. The province capitals with highest prices are Barcelona at €4.034/m2, Madrid and San Sebastian. On the contrary the cheapest cities are Lugo, Pontevedra and Badajoz, with prices that fall under €1.400 per square meter.

Source: La Tribuna, Marbella and Costa del Sol, 7/07/06.