Marbella, in Malaga on the Costa del Sol of Spain, is home to the cool, the glamorous, and the sun-drenched. It is also the location for some of the best luxury homes in Spain.
With the stunning backdrop of the Sierra Blanca Mountains, with 27km of sandy beaches, there are golf courses, hotels, and stunning villas, making this quite a Mediterranean gem.
Along the “Golden Mile” of nightclubs, cafes, shops and restaurants, you’ll find wealthy locals, expats or the rich and famous, jetting-in to soak up the luxurious lifestyle on offer. With Puerto Banus marina close by, it’s the perfect start, end or visiting port for those with a penchant for the nautical.
The Marbella property market, whilst not immune from the troubles of the Spanish market in general, has certainly been somewhat insulated in no small amount due to its exclusivity and its broad appeal to external buyers, indeed Volumes have indeed increased year-on-year since 2011.
In fact, 85% of Marbella property buyers come from outside of Spain, meaning the reliance on the local market is minimal. The British remain by far and away the biggest purchasers, followed by the French and Russians, although the latter have dropped off with the struggles of the Rouble. And whilst the Chinese buyers haven’t flocked to the coastal resort, they continue to be spending millions on online casino games, and indeed winning, so it is only a matter of time before they are drawn to the beachside luxury as they are to other markets, notably Australia.
There are also the internal factors that make it appealing: there is the relative safety of Spain being a solid member of the European Union, and for those seeking to borrow, the mortgage rates of Spanish banks remain very low. Prices remain, however, below their peaks.
There are always push and pull factors to any market, but one has to acknowledge that in tougher markets, a location with as many features as Marbella will always punch a little above its weight.