The new office, situated in the exclusive Vasari Commercial in Puerto Banus, has been co-branded Chestertons Affinity.
‘Eight out of every 10 clients that approach us are from the UK and the numbers are rising. Due to the increasing demand, we were keen to find a UK based estate agency that stands for quality, and gives a personal level of service, just as much as we do,’ said Mia Pearlman, owner of Chestertons Affinity.
Robert Bartlett, chief executive officer of Chestertons, said the growth comes as the firm sees more confidence in the Spanish property market amongst British buyers.
‘They are drawn back by the current competitive property prices and strong sterling to euro exchange rate. Our objective is to offer clients the best choice of properties and services in the region, and the addition of our Marbella office will further strengthen our network of offices in Spain, having already established successful offices in Sotogrande and Mallorca,’ he explained.
He pointed out that recent figures and announcements of new developments confirm that Marbella's property market is heating up. Recovering faster than most parts of Spain, local real estate prices have increased by 4.9% over the first quarter of 2014, whereby three bedroom villas are outperforming any other property type at an average asking price of €1,250,000.
Other likely projects to further stimulate the market include the development of a new marina at La Bajadilla fishing port which Marbella Town Hall has now issued a final closing date for general plan approval. Further financial injections are expected, particularly from large scale investors from the Middle East.
