WITH the wealthiest town hall in the whole of Spain keeping the town in top condition, it’s no wonder that Benahavis also has one of the front-running property markets.
“It’s definitely an area that people come to for a higher-standard property,” explains Scott Marshall, of PropertieSpain, the town’s oldest established estate agent.
“And it is worth remembering that Benahavis is not just the town. It has 145km worth of boundary, home to many up-market urbanisations so there is plenty of stock.”
Better than that, Benahavis is at the forefront of the revival on the Costa del Sol, estimates Antoine Pellet, from fellow agent Private Property.
“We have seen a real resurgence in the market, this year especially, but it has been coming for a little while.
“That’s not to say that prices are really rocketing, just that they are plateauing and we’re actually selling properties, whereas before we were fighting for sales.”
Benahavis is part of the Costa del Sol’s Golden Triangle, along with Marbella and Estepona, and as a result it tends to be associated with the more high-standard properties.
“We have some spectacular properties in up-market urbanisations, such as La Zagaleta and El Madronal, and we have seen these urbanisations really take the lead,” adds Antoine.
“Now trying to find one of these properties for less than €2 million is really quite hard, whereas before there was a real glut of them.”
The company has also seen a real pick-up in buyers’ confidence in these areas, which are in turn pushing up sales in neighbourhoods nearby.
“Obviously we are not completely out of the woods just yet and we are still seeing a couple of small setbacks. World events have had a noticeable impact on sales, from knocking buyers’ confidence, but in general we are going in the right direction.”
Marshall at Propertiespain agrees that the property market is picking up, but is urging caution.
“It is definitely getting better, but there’s still a surplus of properties that will be very difficult to sell,” he says.
“Some people are starting to think that things are getting better and we should be putting up the prices, but I disagree. Things are getting there, but we are not yet where we were in 2005 or 2006.”
One thing he has most definitely noted is the changing nationality of the buyers, with clients now coming from a huge variety of countries.
“It is a much more varied market now,” adds Scott. “Most of our clients are Arab, Belgian, English, Dutch, French and Irish.
“There has been a definite dip in the Russian market, however, which looked to be doing well before.”