Marbella Real Estate Market Report 2022
Marbella is one of the most beautiful cities on the Costa del Sol and one of the most popular resorts in Spain. It is also a favorite choice for many foreigners wishing to buy a property in Spain. Marbella was also ranked by global travelers as the second best European destination for 2022 for being the most popular and exclusive destination in Europe.
In today's article, we keep you up to date with the real estate market in Marbella and the most important frequently asked questions to keep you fully informed of everything new.
This year Spain saw the largest volume of residential real estate sales since 2008, and in 2021 the real estate market in the Marbella region enjoyed a significant recovery. This recovery has continued to our current time without the impact of the decrease in the number of ready-made properties for sale in the main locations in Marbella, which has led to an increase in real estate prices, specifically in Marbella areas that have recorded high rates of real estate sales during the past years.
The year 2021 marked a peak in sales in Marbella, and the figures for the first half of 2022 provide striking evidence of an unprecedented surge in sales in this sector compared to the first half of previous years.The Marbella area also saw the construction of thousands of new homes, as well as the renovation and modernization of older properties across all of the region’s various neighborhoods. Meanwhile, inflation in Europe rose to its highest level in nearly decades, and direct construction costs increased significantly by 23.5% in 2021, it isinevitableinevitable that real estate prices have risen. Consequently, we observe that demand has increased significantly in the real estate market in Marbella, Spain. Another indicator of the strength of the market in Marbella is due in large part to the ability of real estate developers to produce luxurious, world-class homes, as the real estate market in Marbella now features properties valued at over 4,000,000 euros has been well-established in Marbella since before the pandemic.
The statistics in the table above show the statistics of all sales made in 2021 in the three municipalities that comprise the "Golden Triangle" Marbella - Estepona - Benahavis.
During the first half of 2022, the market saw a massive increase in demand of 73% in sales compared to the same period in 2021. As for market demand in 2021, the increase was 30.15% in sales compared to 2019—one year before the COVID-19 pandemic— However, it is important to note that sales figures in the Marbella area remained strong even during the pandemic year of 2020. This helped convince a large percentage of investors to purchase property in Marbella and make a successful real estate investment.
First half of 2022 record real estate sales
In the graph below we can see the statistics of the first half of 2022 compared to previous years, which gives strong evidence of the positive development and unprecedented rise in sales in the real estate field compared to the first half of previous years and we see Marbella's permanent superiority in the number of real estate sales compared to Estepona and Benahavis.
Has the war in Ukraine affected the Marbella market?
Despite the economic turmoil that occurred after the conflict between Russia and Ukraine, the demand for Marbella real estate has actually increased since the outbreak of the conflict and this has been proven by real estate sales statistics in 2022.
What is the outlook for the real estate market in the future?
Marbella has always been considered the ideal place to buy real estate at any time, not only because of its outstanding features but also due to its physical location; there is no sign of a decline in demand. On the contrary, we expect the strong demand we are seeing today to continue into the future. This represents a significant challenge, which has been met by continuing to invest in the development of high-quality real estate projects. Furthermore, the first half of 2022 shows record-breaking real estate sales, providing strong, indisputable evidence of Marbella’s positive development. So, if you’re looking for a new investment opportunity and want to take a significant and smart step into real estate, it’s important to take a look at the prices of luxury and exquisite properties in Marbella in 2022. You can contact our Maxist Homes team at +34 645 45 89 23 if you have any questions.
