What you need to know about the luxury real estate market in Marbella, Spain. This is a city that has long been synonymous with luxury and glamour. With its stunning beaches, world-class golf courses, and vibrant nightlife, it’s no wonder that the city has attracted a wealthy international clientele.
In recent years, the luxury real estate market in Marbella has been booming. According to Knight Frank, prime property prices in Marbella have risen by 7% in 2022 and are 13% above their pandemic low in 2020. This growth is being driven by a number of factors, including strong demand from international buyers, a limited supply of available properties, and rising investment interest.
Demand from International Buyers
One of the main drivers of the luxury real estate market in Marbella is demand from international buyers. In 2022, over 72,000 sales were agreed to non-resident purchasers in the first half of the year, up 53% YoY. This strong demand is being driven by a number of factors, including the city’s attractive climate, its proximity to major European cities, and its status as a tax haven for non-residents.
Limited Supply of Available Properties
Another factor that is contributing to the growth of the luxury real estate market in Marbella is the limited supply of available properties. The city has a relatively small land area, and much of the available land is already developed. This has led to a shortage of new construction, which has pushed up prices.
Rising Investment Interest
In recent years, there has also been a growing interest in Marbella from investors. This is due to the city’s strong rental yields and its potential for capital appreciation. According to a report by Savills, the average rental yield for a luxury property in Marbella is 5.5%, which is significantly higher than the average rental yield for a luxury property in the UK.
The Future of the Luxury Real Estate Market in Marbella
The future of the luxury real estate market in Marbella looks bright. The city is well-positioned to continue to attract wealthy buyers from around the world. With its stunning location, its excellent amenities, and its strong investment potential, Marbella is a city that is sure to remain a popular destination for luxury property buyers for many years to come.
Here are some specific examples of luxury properties that are currently for sale in Marbella:
- A 10,000 square foot villa with six bedrooms and seven bathrooms is listed for €25 million.
- A 5,000 square foot penthouse with four bedrooms and four bathrooms is listed for €12 million.
- A 3,000 square foot apartment with three bedrooms and three bathrooms is listed for €7 million.
These are just a few examples of the many luxury properties that are currently for sale in Marbella. If you are looking for a truly luxurious property in a beautiful location, then Marbella is the perfect place to start your search.
Contact a Real Estate Agent
If you are interested in buying a luxury property in Marbella, then you should contact a real estate agent who specializes in this market. A good real estate agent will be able to help you find the perfect property for your needs and budget. They will also be able to negotiate on your behalf and help you through the entire buying process.
The luxury real estate market in Marbella is a thriving market that is sure to continue to grow in the years to come. If you are looking for a truly luxurious property in a beautiful location, then Marbella is the perfect place to start your search.