Noticias de la Cámara
The Rise & Rise Of The Marbella Luxury Property Market
18/04/2023
While there are rumblings of a downturn in the global property market, all facts and figures seem to point to nothing but growth in the luxury property market in Marbella in 2023.
With sales of homes valued at 4 million euros plus doubling in the last four years, sales of villas of 10 and 20 million euros are increasingly common, new build properties are selling out in months off-plan and demand is outstripping supply for homes in the 1-2 million-euro bracket. Marbella it seems, is more than consolidated as a destination for luxury homes.
The resort of Marbella has long been considered the place to be for the international jet-set, leisured millionaires and wealthy retirees attracted to the warm Mediterranean shores, golf courses and the leisurely Andalusian lifestyle.
The last decade, however, has seen serious changes in the demographic of home buyers in Marbella. The trend is now that younger, trendier, wealthier individuals are investing in property in Marbella; the average age of buyers is now early 40s.
Many individuals and families, liberated by remote working possibilities are flocking to the resort attracted by the new wave of beautiful contemporary properties perfectly adapted to a modern Mediterranean lifestyle – homes designed to maximize enjoyment of the al fresco lifestyle offering chic design, flooded with natural light and blending into the natural environment and the high ratios of green space available in Marbella.
Year on year house prices have been on an upward trend for 5 years and as more people move to the area, this has a snowball effect on investment in the area. Some 250 new build developments are currently underway on the Costa del Sol, with the more luxurious properties centred around the Marbella area.
Add to this literally billions of euros flooding into the area, not just in luxury housing, but infrastructure, hotels, schools, health and medical centres, leisure activities, shops, restaurants – and all attendant service businesses – and Marbella has now become internationally renowned as a quality destination.
Now the influx of buyers are not just contributing to residential tourism with second homes; many families and businesses are choosing to relocate to the area to take advantage of the lifestyle – even more so since the pandemic highlighted the need for a healthy environment, with clean air, sunshine and plenty of green space, 29.7 m2 per capita, which is almost double the amount recommended by the World Health Organization.
Please find the complete article on NCH Dallimore Marbella´s webpage
