RISMedia's Real Estate Magazine

SEP 2017

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/864801

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Page 44 of 118

40 September 2017 RISMedia's REAL ESTATE L ocated in the Malaga region of Spain's famed southern coast, Cilo Marbella Luxury Real Estate was created by two luxury real estate experts, Jason Higgs and Dr. Miguel Horvath. From beachfront apartments to villas in the hills of the Sierra Blanca, Cilo Marbella services a wide variety of international clientele through offices in Marbella, Spain and London. Here, Higgs, the firm's director, shares insights about the market, the firm's strategies and the opportunities and challenges that lie ahead. When was the firm founded? Jason Higgs: We have been in business for seven years as Cilo Marbella, although I've been working in real estate in Marbella for 19 years. We operate within a 30-minute radius of Marbella. What makes your company different? How do you posi- tion yourselves in the market? JH: We like to think we know the market well from our almost 20 years of experience. We prefer to work with small-volume/high-value clients for sales and rentals. Please describe current market conditions. JH: The market is still fairly quiet at prices above 500,000 Euros (approximately, $587,000). The worldwide financial crisis hit Spain especially hard. Green shoots are certainly appearing at the lower price levels, and very small levels of growth are starting to show in the middle market as well. Some properties have been on the market for years. This tends to happen when the owner has not faced up to new market realities. How have home prices fluctuated in recent years? JH: Prices have stabilized in the past 2-3 years; confi- dence is slowly returning. Tell us about the types of properties in your market and which are most popular. JH: Marbella remains (together with Cannes, St. Tro- pez, and the entire French Riviera) the leading luxury Mediterranean resort. Accordingly, we have an array of outstanding properties. These include beachfront man- sions for 50 million Euros, beachfront apartments for 3 million Euros, gated community mansions for 5-15 mil- lion Euros, etc. Apartments under 500,000 Euros are most popular at the moment. {Global Spotlight} Cilo Marbella: Luxury Living on the Costa del Sol

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