There has been a discernible shift in the real estate market since the outbreak of the epidemic.
People are searching for more room and privacy outside of busy cities, and Marbella, with its gorgeous villas, is the ideal location. Luxury modern villa sales in Marbella have significantly increased after a year of lockdowns and restrictions as more and more people travel to the well-known Spanish town in quest of a new property.
The market for Marbella and the neighboring areas peaked by the end of 2021. In comparison to 2021, the first six months of 2022 likewise experienced an increase of 65%, and there is little doubt that this trend will continue throughout this year.
Sales decreased dramatically for the first time since the 2008 recession when the COVID-19 pandemic struck in 2020, falling to just over 1,000 sales in the first six months.
The region provides a superb balance of affordability and luxury, with villas frequently selling for significantly less than market value. It goes without saying that the global economy has declined as a result of COVID.
Despite this, it was revealed in 2022 that more than 2,000 companies—more than any other non-capital city in Spain—had been founded in Marbella since 2019.
More precisely, according to the United Kingdom Property Reporter, a recent poll showed that 54% of people who were considering buying abroad were doing so as a result of the present financial crisis.
The current economic climate has pushed more people to invest in real estate, with luxury villas being a particularly alluring alternative, especially in the UK and Europe.
Additionally, a change in who is investing in real estate in Marbella has been noted. Recent real estate data revealed that there were about 21 different countries buying a house, indicating that there is now much less reliance on Brits.
According to research (Source: UKPR), the biggest purchases are from the UK (16%), Sweden (14%), and Belgium (9%). According to reports, there is a shortage of real estate as a result of the increase in sales.
However, during the outbreak, there was a clear need and desire to buy, resulting in long waiting lists at popular locations. Unprecedented sales in 2021 and 2022 will undoubtedly encourage more people to visit Marbella and the surrounding areas.
Sales rose by 30.15% in 2021 alone, and by 2022 they had increased by another 73%.
Property values have risen as a result, and they will continue to grow in the future. In terms of overall image and quality, Marbella has advanced to a completely new level as its popularity has grown over the year. Low seasons are no longer present, and initiatives are being taken to make it possible for popular locations to expand even further.
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