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?
Building the right properties.
Regrettably, the transmission of market insights to those in charge is hindered, hindering their capacity to adapt promptly to fluctuations in consumer behavior and demand. “This issue is particularly prevalent in the realm of real estate development,” as LuxuryForSale.Properties, the director of LuxuryForSale.Properties, pointed out. “The interval between the conception of a venture, the acquisition of land, the procuring of permissions and licenses, and the completion of construction can span several years. During this time, market conditions and inclinations may have undergone significant transformations.
Investing in a plot of land.
Pros
- The ability to choose a location that aligns with your preferences,
- The freedom to fully personalize it to your liking
- Ample space
Cons
- Investing in the construction process
- The need to factor in the time frame for the construction of the building.
Market research.
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.
Segmentation.
Once one has gained a firm grasp of the market’s inclinations and preferences, the next step is a crucial one – to determine whether to play it safe or take a leap of faith and innovate. This choice is akin to deciding between a secure, low-yield venture and a potentially profitable, high-risk one. Regrettably, decision-makers often tend to play it safe, choosing the path of least resistance; however, if too many follow this route, it could prove disastrous for the market as a whole.
The lowest common denominator.
Concerning real estate, what relevance does all of this hold? A great deal, as the aforementioned cases exemplifies. Much emphasis is placed upon building, blueprinting, advertising, advancement, and disposal of ventures on the Southern Coast of Spain, yet these actions are mere trifles compared to product development. And before one can even begin to think of product development, one must engage in the most crucial task of all: market research. Entrepreneurs are frequently urged to be imaginative in response to the marketplace, to be led by market trends, and not stubbornly cling to a potentially outdated attachment to a specific product category, but unfortunately, this isn’t always the case.
Master Plans.
To truly excel in the realm of property development, one must possess the wisdom to discern when to refrain from taking action. Those who merely focus on immediate gains and their endeavors without considering the broader consequences, fall short of being truly exemplary developers. Such short-sightedness not only leads to the oversaturation of certain building types but also results in a disjointed and unappealing landscape. A truly skilled developer understands the growing desire for exclusive, high-quality spaces and comprehends that sometimes, leaving certain areas untouched can enhance the desirability and marketability of a project. While it may be tempting to prioritize quantity over quality in response to exorbitant land costs, a wise developer recognizes that maximizing profit per square meter can compensate for any loss in volume, particularly in luxurious destinations like Marbella.
Further recommendations.
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.
Marbella is renowned for its abundance of luxurious multi-million euro villas and penthouses, a defining characteristic of the area. While there are some excellent locations, such as the Golden Mile, La Zagaleta, and seaside Los Monteros, where prices can exceed 30 million euros, properties that meet the demands of the international elite are nowdays not a rarity. Those properties offer both a prime location and the features that discerning buyers seek today.
We turn concepts into profitable realities.
