Developing in Marbella.
The development of properties is an essential aspect often neglected among the myriad aspects of the real estate market that are so frequently addressed. Not the mere construction, design, styling, funding, advertising, or strategizing of ventures and individual abodes, but the paramount query: what ought to be erected, where, and in what quantity?
The art of crafting and honing the goods and services a company offers is commonly referred to as Product Development. In real estate We must have a fairly good understanding of the desires of the market. Understanding our clients’s audience is key.
Knowing your market.
To make decisions without a solid understanding of the market would be nothing more than conjecture. Market research guarantee that the masterminds behind the design, engineering, and financial strategy for a comprehensive understanding of the market dominance.
Entrepreneurs must make difficult choices when deciding which products to develop, produce, and sell. Resources and budgets are limited, so wise business leaders rely on market research and statistics to inform their decisions. By studying market segments, such as age, gender, and socioeconomic background, companies can gain insight into consumer behavior and tailor their product offerings accordingly.
Some areas in Marbella known for luxury properties include Sierra Blanca, La Zagaleta, and Golden Mile. These areas often feature exclusive villas and estates with stunning views and top-notch amenities.
To truly grasp the intricacies of the market and discern the products that are in high demand, one must delve into the realm of market segmentation. The act of dividing the market into specific groups is a crucial step in any business strategy. While cost is often the primary criterion for segmentation, other key determinants like demographic factors, cultural influences, and socioeconomic status also play a vital role in shaping consumer behavior. Within these segments, there exist even further sub-categories, but for the sake of efficiency, many companies opt to target a substantial segment as the focal point of their efforts.
The lowest common denominator.
This is a situation where entrepreneurs, in the realm of marketing, often choose to cater to the majority, assured in the certainty that they are reaching the most immense portion of the market. However, the conundrum arises when 70 percent of property buyers in the Costa del Sol seek two-bedroom apartments; yet a vast majority of property developers cater to this “lowest common denominator,” resulting in an oversaturation of incorrect product offerings or an excess of the correct product.
Building the right properties.
To truly grasp the pulse of the marketplace, it is imperative to lend a discerning ear. But as Diana puts it, developers ought to engage in more frequent dialogue with agents – those who can decipher the market’s secrets, domestically and abroad. A prevalent issue that plagues the industry is the tendency for projects to be crafted in a vacuum, with sole emphasis on the details of the individual projects and the pursuit of immediate profit. This leads to a haphazard assembly of undertakings, lacking both structural unity and a cohesive design, exacerbating the feeling of over-development that could have been mitigated through the implementation of a comprehensive master plan.
“You will make some alterations during the project to improve the outcome.”
Our clients have worked successfully with architects in the past, so we know they are the best architects in Marbella. We can provide you with further information about the studios or advice on approaching an architecture project. Assisting you is something we can do for you. If you are still unsure about the recommendation, you can direct yourself and can architect too by following the steps below:
- Buy land zoned for development: The planning regulations on this land are clear, and you can build. Avoid land which is zoned “rustico.” It is not impossible to make, but life is too short. Save yourself a lot of time, money, and heartache.
- Buy a site big enough for a garden: We are all here to enjoy the fabulous weather, and you may want to spend most of your time outside, cooking, reading, playing, entertaining, and enjoying the clean air and views.
- Check the Mains Services: Ensure your plot has all the primary services. Most people think life is better if all direct services are confirmed before viewing the property.
- Financial Viability: Satisfy yourself that the value of your finished development is worth more than all the costs of building your home and buying your land. You can then negotiate the price of your plot based on this information.
- Beware of loose talk around costs: People talk about building costs as if they are buying apples at the grocery mete, this much per square meter and that much. Remember, these figures exclude taxes, licenses, landscaping, swimming pools, and all things you may want. Clarity should be sought right from the start.
- Find an Architect that Understands what you want: Find an architect who can design sizeable open-plan kitchen/living spaces with high ceilings where everyone in the house can be together. Then have separate rooms for privacy. All around me, I still see new homes designed by, presumably, Spanish architects with a separate kitchen at the back of the house, no natural circulation spaces, no thought given to the house’s orientation, and hard marble surfaces throughout.
- Get the Solar Orientation right: We have all seen the big picture windows facing south into the Andalucian sun with the heavy curtains drawn in the midday heat in futile attempts to keep it cool. Think about where you will sit and the time of day and year. Make sure there are many shaded outdoor areas.
- Use Professionals: How often have we heard about “misunderstandings” about what is included, how much it will cost, and who is responsible? The “tio Paco” types will promise you everything will be ok, and their prices look too good to be accurate, and of course, they turn out to be precisely that.
- Enjoy it! Remember what a fantastic place this is to live: fabulous weather and clean air, happy, friendly people that want to have fun, great food everywhere, beautiful beaches and mountains. The country has an exciting history and culture quite different from ours, a thriving nightlife, and many motorways that make it easy to reach the international airport and remain within a western democracy within the European Union.
LuxuryForSale.Properties Real Estate.
When buying off-plan properties you need professional advice from a real estate agent who wants a satisfied customer, not just a quick sale. The idea of paying only part of the price when construction starts and getting a new property 18 months later at cheaper price is tempting. But many properties are delivered late, sometimes very late, and many other problems can arise. When choosing a developer, you must ensure they are reputable and will have their promises. The right agent, along with a good lawyer with enough experience will be able to guide you smoothly.