Property
S pr pa o in in per ’s b En ty es gl ma t ish g
www.theolivepress.es
May 2024
DESIGN WINNER
The Olive Press visits this year’s EU Mies award winner, p 16
Designer digs I
TALIAN fashion gurus Dolce & Gabbana are pushing ahead with their appropriately named project, Marbella Design Hills. The stunning Golden Mile project has already reportedly seen advancesales of over €250 million. Images of what the finished development will look like have finally been released. It is the brand’s first project of its kind in Europe and will count on properties that have between 280 and 900 square metres of space. Each property has up to five bedrooms, and exclusive furnishings created by the brand. Surrounded by gardens as well as infinity pools, resi-
Exclusive first peek at amazing Dolce & Gabbana homes in Marbella
dents will also enjoy padel tennis courts, a gym area, and a covered astroturf five-a-side football pitch, as well as their own spa. Work has already begun and is expected to be completed by 2026. The pilot home, meanwhile, should be ready by 2025. “We want homeowners to be certain that their purchase does not end with the delivery of their future home,” said Carlos Rodriguez, the boss of Sierra Blanca Estates, which has partnered exclusively with the fashion brand. “This is much more. We're talking about experiential access to an iconic fashion brand in a way that no other outsider could ever have achieved before.”
GOOD TIME TO BUY VERY high demand and low supply. That’s the current situation in Spain’s property market, according to experts, and as such a good time to buy. In coastal regions, particularly in Andalucia, prices continue to soar. And there is no sign of them stopping. ‘If it fits with your plans right now, it’s the time to buy,’ the group concluded in a round table discussion with property portal Idealista.
Experts tell American property portal that despite serious supply shortages, if you see a bargain ‘grab it’ By Alex Trelinski
Their thinking is that, given the low supply in the market right now, if an opportunity appears, buyers should not let it slip through their fingers. “We are seeing high levels
of buying activity in the first quarter of this year, and at the same time, the launch of new residential projects on a national level,” Carlos de Almeida, sales director at leading property firm CBRE explained. “All of this means that demand continues to be very high.”
In terms of demand, a key figure at leading UK agency Savills, pointed out exactly how high it remains. “We are surprised by the strength of demand, it is above what we initially expected,” insisted Pelayo Barroso, national manager at Savills Research. Meanwhile, Lawyer at the
API estate agents, Carles Sala, pointed to prices as well. “Prices are not growing with the intensity that they have done in recent years,” he said. “So a fall in prices is not going to happen, meaning that while it is not the best moment, there is nothing to indicate that over the next year prices will be any better,” he added. As for mortgage interest rates, these are not likely to fall anytime soon.
“Any reduction will likely be gradual,” said Ricardo Sousa, from US giant Century 21 Spain. The forecast is that mortgage rates will hover around 2.5% for some time. “As such, if a buyer finds a property that meets their requirements and it is within their budget, it would be prudent to buy now rather than wait for the market conditions to improve,” added Sousa.