Dilip Kuner
A COUNTRY club vibe, relaxed family lifestyle and massive investment in top grade facilities have combined to push Sotogrande into new territory when it comes to high end property.
The spectacular residential resort with superb golf, tennis, equestrian, yachting and polo facilities is more popular than ever – and the future looks rosy.
James Stewart, of James Stewart in association with Savills, an estate agent with decades of experience in the area, has his finger on the pulse when it comes to Sotogrande.
He has noticed a sea change over the past few years, despite the dual crises of Brexit and the pandemic.
He dates the start of the rise in the enclave’s status to the 2014 purchase of Sotogrande SA for €225 million.
James explained: “Sotogrande has advanced so much since Orion Capital Management took over.
“Facilities have been expanded so much that it now offers a highly attractive family lifestyle. The area has something like 40 to 45 restaurants – almost unthinkable 20 years ago.”
James continued: “Together with a highly regarded international school, world class golf courses (think Valderrama, scene of the 1997 Ryder Cup) and many other sports facilities, the area is attracting a younger cosmopolitan crowd to live here.”
The figures bear this out. James said: “2022 was an exceptional year – particularly in the autumn – for home sales.
“Asking prices for a house on the super exclusive plots are now reaching up to €22 million.”
If we put this into context, the record price achieved in Sotogrande before the 2008 recession was €7.2 million – and it held that position for 10 years.
“Now we are looking at several properties valued between €10 million and €22 million – and they are selling.
He added: “Marbella – in particular the Golden Mile and Sierra Blanca – and La Zagaleta in Benahavis still sell at a premium but we are catching up.’’
“It is a question of lifestyle choices. Sotogrande offers a different, less glitzy but more refined and relaxed, lifestyle.
“It is more outdoors here, with the marina, sports facilities and countryside all close together. While this might be reflected in the very top end prices, the gap between Sotogrande and Marbella is closing.”
So far in 2023 there has been a slight slowdown in the market. “It is difficult to tell until the end of the year – we may have another excellent autumn,” James said.
“On the whole I would expect a slight fall over the year. There was a lot of pent-up demand following the pandemic that has now been satisfied.
Despite this, sales are still good, James added: “I would say we are well up on pre-pandemic figures – and they were good.”
As for the type of property most in demand, new builds top the list. “At the moment contemporary, clean lines, open plan features and large kitchens are the most popular, rather than the older designs.”
And the good news is that availability is getting better too. “The financial crisis in the late 2000s saw development grind to a halt. But now there is more new property coming onto the market, given the impetus imparted by Orion, and self builds are increasing in popularity too.
“One thing Sotogrande has in abundance is space and there are plots available. The outlook remains really positive.’’
https://www.js-sotogrande.com/
Headquarter Office
C/ Sierra Bermeja, Ed. Ayala 1
Pueblo Nuevo de Guadiaro, 11311
Sotogrande, Cádiz
Sotogrande Marina Office
Rivera del Marlin,
20 Avenida de la Marina, 11310
Sotogrande, Cádiz
