Marbella All Time High.
Surprisingly, Marbella has a larger official census than the Andalusian cities of Huelva, Jaén or Cádiz, with 161,870 in January 2023, and of these, 51,024 are foreigners of 135 different nationalities. To this total we can add a significant additional unregistered, or floating, population of tourists and part-time residents of at least 150,000 more in the winter months alone.
A succesful multi-cultural community.
“The number is growing day by day,” says Remedios Bocanegra, Councilor for Foreigners in the Marbella Town Hall. Marbella is an unusual example of a highly successful multicultural society, another reason for its sustained growth. Marbella is becoming a famous permanent residence. It offers something for everyone, from exciting adventures to tranquil beach days.
Confidence in Marbella is at an all time high.
Despite the many problems around the world, confidence in Marbella’s future is at an all-time high. Marbella is in a much stronger position than ever before to deal with any lessened financial confidence that the future might bring, thanks to the substantial credibility and wealth generated by its many thousands of residents, tourists and investors on all levels who, together with good local governance, have made Marbella what it is today.
1. The market has been great so far. We have had a good 11-year run without a major market dip. The demand, especially with respect to luxury properties, has made the market surge extraordinarily since 2021, consolidating Marbella’s reputation as a world-class resort city.
2. Demand will continue to be healthy, all other factors being equal. There is little sign of abatementto this demand for luxury properties. Notwithstanding, we expect the overall demand to gently decelerate tomore normal levels.
3. Year-round activity. Marbella has evolved to a whole new level of activity and as a result, the low season has virtually ceased to exist. Big money has been betting on Marbella for over a decade and the post-covid boom has only reinforced the decision of all major investors to continue and increase their investments in this area.
4. Real estate supply is low compared to boom times of the past. With the lack of supply, rather thanoversupply, there is no sign of the market overheating.There are, and will remain for the near future, shortagesof many types of properties, especially the high end. Nevertheless, there are also many new and refurbishedproperties coming on line: the construction and salesof off-plan properties will no doubt accelerate.
5. Rising interest rates unlikely to affect demand for luxury Marbella property. As far as the luxury end of the market is concerned, probably 90% of sales
are made without bank financing, so there will be little impact on the luxury end of the market attributable to the increase in interest rates.
6. Prices are still competitive compared to other luxury destinations. Prices in the ultra-prime areas have risen to record highs. But Marbella still remains competitive and indeed, has become for many people the “must” place to buy a second, or even a third, primary home. As indicated earlier, we believe that
there will be a gentle levelling off of price increases in most areas.
7. The Marbella property market’s success includes neighbouring areas. Estepona, Benahavís and other neighboring municipalities along the whole Costa del Sol, will continue to enjoy an increasingly solid market, not only due to the factors described above, but also due to the outstanding features intrinsic to each of these areas.
8. Marbella’s reputation as a lifestyle destination has never been stronger. Despite uncertainty in some areas, the convergence of world events has clearly
favoured the real estate market in the Marbella area, as demonstrated by the record period of growth we are experiencing. This has reinforced Marbella’s reputation as one of the most attractive places in Europe for quality living, and for the purchase and enjoyment of some of the highest quality properties available anywhere in the world.
The new general zoning plan of Marbella.
Marbella is expanding and urgently needs zoned land to do so, as indicated earlier. The Mayor recently announced that 12 million square metres of rural land
in the municipality will be re-designated as urban. The new general zoning plan is expected to be approved during 2024.
Regarding Nueva Andalucía, the Mayor said: “We have managed to recover more than half a million square metres of land to provide this area with new
sports, health, cultural or social facilities”.
Golden Mile and Nagüeles: There is much to be done in the area around Puerto Banús. The Mayor said that she wants to, in her words, “create a municipal environment linked to innovation and technology…with large residential spaces that at the same time are ideal for the flexible uses demanded by digital nomads.”
Furthermore, improvements on the AP-7 motorway are being considered, as well as the unblocking of the development of large, older urbanizations such as the
Swedish Forest Centre.
Marbella Town: The new General Plan includes improvements for each neighbourhood in line with their individual needs, such as parking, urban regeneration
and mobility.
Marbella East: Several new hotels and tourist projects are planned or under consideration. As the Mayor said: “this will be a key district in the economic growth of our town, always clearly preserving the coastline and improving connections to the A7 and AP7”.
Marbella’s Bright Future.
The confidence in Marbella and the the Costa del Sol region is at its highest levels ever. Marbella New ultra-luxury Developments: Design Hills Marbella, Uno Beach Residences, Epic,.. are certainly worth keeping an eye on if you’re considering luxury living in this paradise.
If you’re interested in exploring these opportunities further, or would like to see other real estate options, don’t hesitate to reach out to our experienced agents who can provide you with all the information and guidance you need to make the right investment. With a bright future ahead, Your dream home in Marbella might be closer than you think!
Enjoy Marbella!
Marbella has numerous luxurious beach clubs that offer a stylish and laid-back experience for those seeking relaxation. Nikki Beach is a top choice, known for its exceptional service, ambiance, and cuisine. La Plage Casanis, Nosso Summer Club, and La Sala by the Sea also provide a sophisticated atmosphere. Those looking for a party atmosphere can check out Ocean Club and Playa Padre.
Marbella’s nightlife is a major attraction, with upscale nightclubs like SupperClub, Olivia Valere, and Momento featuring renowned guest DJs. Casinos, including the largest one near the newly opened Hard Rock Hotel, are also popular.
Marbella offers a wide range of activities suitable for younger family members, including water sports like paddle boarding, jet skiing, and water rides, as well as a cable ski center for those wanting to learn a new sport. Other fun options include go-karting, the Aventura Amazonia adventure park, and various entertainment venues.
Puerto Banus, the heart of Marbella’s shopping district, is home to various luxurious boutiques, where brands like Louis Vuitton, YSL, Fendi, Dior, Hermes, and Bottega Venetta offer exclusive access to their latest collections. ElCorteIngles features several high-end brands, while La Cañada and Marina Banus cater to high-street shoppers.
After winning the title of “Best European Destination,” Marbella has seen a rise in seasonal and year-round job opportunities, thanks to increased tourism and higher expectations to maintain the city’s prestigious reputation.
Fine dining options in Marbella awarded with Michelin stars.
Restaurants in Marbella have seen a surge in demand, with many requiring reservations well in advance, especially during peak seasons. The eateries in the Puente Romano plaza, including: Thai Gallery, Nobu, and Monkey Club, are typically fully booked months in advance.
Chef Dani García, who boasts three Michelin stars, has opened several locations across Marbella, each offering a unique gastronomic experience. Among these are Alelí, Kemuri, Tragabuches, Babette, Lobito de Mar, and Leña. Marbella’s culinary scene caters to all palates, offering diverse options. For instance, Takumi and Nintai are Michelin-starred restaurants specializing in Japanese cuisine.
LuxuryForSale.Properties Real Estate.
Amid the stunning Mediterranean landscape lies a diverse range of property possibilities. This is where LuxuryForSale.Properties steps in. Whether you’re seeking a sun-soaked second home, a family villa near international schools in the Golden Mile, an apartment in Nagueles with sea vistas, a charming finca amidst the countryside of el Madronal for your homegrown oranges, a golf course-adjacent villa, or an elegant urban dwelling in Marbella´s old town – our real estate offerings are vast. Moreover, if you’re looking for a long-term rental option like a villa, country house, Finca, or apartment, we’re dedicated to finding it for you.
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