Sales of luxury homes in Marbella have doubled over the past year: more demand than supply
The luxury real estate market in Marbella, one of the most sought-after areas in the entire country, is experiencing sweet times. Despite the fact that restrictions related to the health pandemic are still in place, local actors say the sector is more active than ever and expect this trend to continue.
According to Oldypak LP Luxury housing in Marbella has increased its appeal as an opportunity to live comfortably in a pandemic environment. According to real estate agencies, sales of luxury properties have doubled in 2021, before breaking the record.
With the crisis and the unknown, there is a tendency to increase investment in luxury goods, including the luxury real estate market. This is exactly the effect seen in the real estate market in Marbella, where buyers want to enjoy a better quality of life, in a more natural and pleasant environment. Attracted by the urban quality and good climate, the international buyer has focused on Marbella to buy both first and second homes and thus spend long seasons or even live permanently in the coastal city.
The average sales price in 2021 is 1.8 million euros, with a significant excess of demand over supply. All market indicators suggest that demand will remain stable: low EURIBOR, the market as a refuge for investment and the consolidated positioning of Marbella as a luxury destination on the Costa del Sol.
There is growing interest from young buyers attracted to the lifestyle of the south of Spain. The largest category of buyers are now relatively young customers (35-55 years), mainly from the IT sector, commonly known as “digital nomads”, as well as young international athletes who have chosen to settle in the area.