YOUR money goes much further in Marbella’s property market than in London or New York, with Spain’s Golden Triangle offering significantly more space and value for €1 million.
A new report by Knight Frank has revealed that €1 million buys significantly more property in Marbella than in other major international property markets.
The report compared how many square metres of prime property €1 million can buy across some of the world’s most sought-after markets, with Marbella emerging as one of the best-value destinations.
According to the report, a €1 million budget buys an average of 82 square metres of prime residential property in Marbella.
By comparison, the same amount would secure just 38 square metres in London, 36 in Los Angeles and 34 in New York.
In Monaco, meanwhile, €1 million only secures 16 square meters of prime real estate.
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This stark difference in buying power is helping drive a surge in demand from North American buyers, who are increasingly targeting Marbella’s Golden Triangle.
Comprising Marbella, Benahavis and Estepona, US and Canadian buyers are setting their sights on the Triangle in search of more space and better value than they can find in major US cities.
With these latest figures reinforcing Marbella’s position as a value-for-money luxury destination, the report suggests the Costa del Sol’s Golden Triangle is likely to remain a magnet for wealthy international buyers in search of space and exclusivity.
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In one email from The Olive Press yesterday we have two conflicting articles on property. This one stating “Costa del Sol’s Golden Triangle is likely to remain a magnet for wealthy international buyers” and another saying “Luxury property buyers are ditching the Costa del Sol’s crowded resorts for the quieter western corner”.
On closer scrutiny, the latter is a sponsored piece and therefore to be taken with a pinch of salt.