The Property Finders
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What price a sea view?
Some property buyers looking for a property on the Mediterranean don’t mind if there is no sea view. They just value a pleasant outlook with nothing ugly in the way and a location within an easy stroll of the beach. However, for others a sea view is non-negotiable and they won’t buy without it. Therefore, when I am working for these clients one of the first issues to discuss is the sea view premium as there is no doubt, there is one. On the other hand, there is always demand for a special view of the Mediterranean, making property with a sea view a solid investment and easier to sell.
The Sea View Premium
In most apartment developments close to the sea there will be some properties with no sea view, some with a partial view of the water and some with the real thing. Comparing prices over the years I have come to the conclusion that in the Marbella/Puerto Banús/San Pedro area where the land right on the coast is more or less flat, the sea view premium starts in the region of €200,000. So if an apartment with a sea view sells for around €750,000 then a similar apartment in the same development with no view of the sea should be €550,000 or less.
A few years ago I reviewed 19 apartments for one client and one stood out because of the sea view. In fact I would have put it top of the short list. Unfortunately, it sold before my clients even got a chance to see it. It had been on the market at €650,000 but was reduced to €550,000 for a quick sale. As a result, buyers were all over it like a rash with it finally selling for €515,000. Must have been a motivated seller. Meanwhile, a very pleasant apartment in the same development but missing the sea view was unsold at an asking price of €385,000.
However, in other parts of Andalucía, where the mountains come right down to the coast the elevation of the land means that properties with spectacular sea views are easier to find. Consequently, the sea view premium isn’t such an issue. Click the image to enlarge it to see a Costa Tropical sea view guaranteed forever. Guaranteeing your view is crucial.
Make sure it is future proof
For those buyers for whom a sea view is an absolute must the key thing to ensure is that the lovely blue view isn’t going to disappear in the future. One of the apartments I checked out in the case I mentioned earlier had a very nice sea view. In fact, the estate agent’s details highlighted it but it didn’t take more than a minute for me to realise that it would disappear completely when the nearby plot was built on. And surely there’s nothing worse than buying a property with a great sea view only to have it vanish behind a building a few years later. So make sure you always find out what is scheduled to happen on vacant plots of land in the vicinity. The Property Finders will always do the due diligence for you in advance, so no nasty surprises in the future.
Check out our Case Studies for more about ‘sea view’ clients.
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