Marbella Real Estate Market Report for 2023-2024
Between Continued Rise and Future Challenges
Marbella is one of the most beautiful destinations of the Spanish coast on the Mediterranean Sea, and for two decades Marbella has witnessed major transformations in the real estate market, as it has become the most attractive and main stations for real estate investors and buyers from around the world, and in this article we will provide you with an analysis of a number of key points in the real estate market in Marbella during 2023-2024 with the most prominent key developments and future expectations.
Luxury real estate sales are on the rise: Marbella's real estate market in 2023 was characterized by a remarkable rise in real estate sales, especially in the luxury category, with a 20% increase at the top end of the market, partly due to the growing demand for luxury properties in the region, which reinforces Marbella's reputation as an exciting and strong real estate investment destination.
and in diagram below in the chart below. We have a comparison to the first quarter sales statistics of the past several years, with sales in the first quarter of 2023 still exceeding pre-pandemic levels by 18%, a clear indication of a continued strong market.
Price increase: In terms of prices, between June 2022 and June 2023, Marbella experienced a significant increase in asking prices for properties of up to 15%, which actually reflects the increasing attractiveness of Marbella real estate and indicates the sustainability of the increase in real sales prices.
Sale price forecasts: Despite notable price increases in Marbella's real estate market over the past two years, there is evidence to suggest that Marbella's prices remain competitive, with Marbella currently ranked 9th nationally and globally as an attractive real estate investment destination, which points to an exciting real estate future for Marbella in both the short and long term.
A thriving local economy: Marbella is experiencing economic growth thanks to several factors, and undoubtedly one of the most important of these factors is the strong real estate market in Marbella, which is one of the most basic factors that add to the local economy tangible and clear growth, and thanks to other factors such as industry and services, as Marbella has recorded the lowest unemployment rates in June for many years, and residential tourism also contributes to creating stable job opportunities and boosting employment.
Taxes and costs of buying a property in Marbella Spain: A foreign investor can request financing when buying a property in Spain up to 60% of the property's value if they wish to do so, and it is usually necessary to provide a percentage of the property price estimated at 40% as a down payment, in addition to that there are other costs and real estate taxes that must be paid, such as valuation costs, notary and registration fees, and these costs are considered regardless of whether you need Mortgage.
According to these available indicators and statistics, we can see that Marbella continues to attract investors and real estate buyers thanks to its thriving real estate market in addition to the diverse and suitable environment for everyone, and with the continued rise in real estate sales and encouraging expectations for the future of Marbella, there is no doubt that Marbella is considered one of the most attractive destinations for real estate investment at the present time and in the coming years.
If you are looking for an opportunity to invest or buy a great apartment to live in Spain, Maxisthomes offers you the perfect opportunity to discover a variety of available real estate in Marbella and take advantage of the special attraction. For more information, please leave your question here or contact our team via WhatsApp on the following link https://wa.me/message/747GSLD5K2SPC1
