Technological innovation to relaunch the real estate sector on the Costa del Sol in 2020
Technological innovation to relaunch the real estate sector on the Costa del Sol in 2020
According to Engel&Völkers data, Luxury property sales adapt to new needs through specialised online tours.
The real estate agency ENGEL & VÖLKERS opens new office in Guadalmina to deal with the increased interest in new constructions and villas of up to 3 million euros.
Marbella, 3rd of March 2021.- Digital adaptation has allowed Marbella’s real estate sector to maintain and even grow during 2020 despite confinement and mobility restrictions. Virtual visits and contact via the web and various technological applications have doubled the number of enquiries and increased sales of luxury homes without even seeing them physically. This is the case of the real estate agency Engel&Völkers, which notes how the buyer, both national and international, closes the sales process in just one week.
The boom in this type of sales with a greater involvement of online support has led to an increase of up to 373% of visits to the new website of the real estate agency, one of the most important in Marbella. E&V highlights, for example, the more than 100,000 views of the video presentation of the Villa Casa del Mar, in the Marbesa area, whose sale was formalised in 2020 after several promotional activities on various channels, with an asking price of 4.6 million Euros.
To meet this demand, E&V offers its clients the Owner App, an application from which owners can follow in detail the entire process of selling their property, as well as the different actions that are carried out to do so. It is an exclusive tool that, in addition to facilitating direct contact with the agent, gives the client access to all the relevant information about the property, allowing the owner to get an idea of the interest their home receives in the real estate market.
“We have sold several properties through virtual tours, three of them to German clients. We are finding that offers are being made much faster than ever before, people are deciding to buy in less time, and sales procedures are being completed more quickly,” states Smadar Kahana, director of E&V Marbella. In fact, she points out that “around 40 per cent of our offers since 1 January 2021 were made to clients who contacted us directly and only needed a few days or just a week to make a decision and make the offer. It seems that people don’t want to wait and if they decided to buy, they are going to do it on the trip,” states Kahana.
To meet this demand, E&V offers its clients the Owner App, an application from which owners can follow in detail the entire process of selling their property, as well as the different actions that are carried out to do so. It is an exclusive tool that, in addition to facilitating direct contact with the agent, gives the client access to all the relevant information about the property, allowing the owner to get an idea of the interest in their home in the real estate market.
As for the origin of the clients, the national market has taken over in search of comfort and the best quality of life offered by the Costa del Sol, representing 52% of buyers during the penultimate quarter of 2020, compared to 24% in 2019. The overall figure shows that the national market has taken over, representing 45% of the total volume of enquiries, followed by Germany, Scandinavian countries, Benelux, UK and France.
In addition to its four offices, E&V Marbella now has a new office in the Guadalmina Commercial Centre with a team of six people with extensive experience within the German firm on the Costa del Sol, and who will attend to the growing interest in the area of Alquería and Los Flamingos. According to the data analysed since the end of the first quarter of 2020, E&V Marbella received 68% more enquiries than the previous year. This figure even increased to 70% between the months of July and September, and was also 30% higher in the month of October. Despite negative predictions due to the pandemic, the Costa del Sol seems to have resisted the health crisis, and the luxury real estate firm recorded an 18% increase over 2019 in sales between July, with the end of Europe-wide confinement, and October 2020.
About Engel &Völkers Marbella
Engel & Völkers is based in Marbella with 5 offices in prime locations and has been the market leader in the Marbella real estate sector for many years, specialising in the marketing and sale of mid to high-end properties.
Engel & Völkers is one of the world’s leading service companies specialising in the brokerage of luxury residential properties, commercial real estate, yachts and aircraft. Present in more than 800 locations in 34 countries on 4 continents, Engel & Völkers offers both private and institutional clients a wide range of tailor-made professional services, providing access to a wide range of potential international buyers and a proven track record of success over the years. Advisory, sales and rental services are the core competencies of the more than 12,837 people who make up E&V.
Matihba Iftikhar
P.A. English Liaison
