The oldest estate agency in Marbella reports a recent rise in luxury home sales locally

The entrance to a luxury development in Marbella.
The entrance to a luxury development in Marbella. / Josele
  • Panorama says that despite the fall in visitor numbers, the upmarket property sector has strengthened over the summer months

Luxury property on the Costa del Sol has strengthened its position over the summer as a safe investment in times of uncertainty. This analysis has been published by Panorama, Marbella's longest-established real estate agency, that every year issues a report on the market.

According to its information, the fall in visitor numbers due to the Covid-19 pandemic hasn't done much harm to the upmarket sector of the market, which "has even increased its activity".

Panorama reported a 13 per cent rise in its sales from 21 June to the end of August compared to a year ago. The outlook for the coming months is also looking strong, the firm says.

"Despite the severe decrease in the number of foreign visitors this summer, with a drop of around 50 per cent, we have seen an exceptional amount of highly motivated buyers who have come to Marbella with the specific aim of buying property in the area," said Christopher Clover, director of Panorama.