One might have thought that the Marbella property market was flat in this Covid era, but the upper segment above €6 million is remarkably strong with many sales in 2020. If predictions of a surge after the easing of lockdowns in the course of 2021 are right, we may actually be looking at a shortage of stock.
One might have thought that the Marbella property market was flat in this Covid era, but the upper segment above €5 million is remarkably strong with many sales in 2020. If predictions of a surge after the easing of lockdowns in the course of 2021 are right, we may actually be looking at a shortage of stock.
The fact that the demand for extraordinary houses in Marbella is undiminished is evidenced by the many mansions and luxury villas sold in 2020 alone, including this spectacular property, which according to reports in the press involved a €40 million transaction. Clearly, the buyers are there, and those looking for crisis bargains are falling foul of the true market situation in this segment.
In fact, such crisis bargains, as last witnessed during the Financial Crisis of 2008, are very hard to find in Marbella, and would be more indicative of an individual homeowner’s personal situation, but it is definitely not the trend right now. In the lower to medium segments there is some downward adjustment of prices that will drive demand there, but it hasn’t been necessary in the high end of the market.
In fact, the expectation is that pent-up demand and a desire to work remotely and live in a lifestyle destination such as Marbella will cause a surge in demand for all property in Marbella and the Costa del Sol as the lockdown eases from Q2 2021 onwards. If this is the case, we will actually be experiencing a shortage of properties to sell in Marbella and surroundings, especially in the luxury segment.
In addition to new-build luxury property for sale in Marbella, our clients are also looking for quality renovated homes that blend modern style and amenities with classic charm and a top location frontline golf or by the beach. We are specialists in La Zagaleta, and this exclusive country club estate, where we sold this magnificent villa last year, remains a reference point for those who seek quality property to buy in Marbella.
Other examples of high-end villas sold in Marbella in 2020 include the stunning Villa Arbequina in Sierra Blanca and Brisas 48, a beautifully rebuilt classic villa in a privileged frontline golf location in Nueva Andalucía. They are a good representation of the kind of luxury property that high net worth buyers are looking in Marbella, yet as Puente Romano 12 proves, they are also in the market for luxurious apartments in top settings – in this case the exclusive Marina Puente Romano complex right on the beaches of the Golden Mile, Marbella.
The Covid-19 situation has affected Marbella as it has the entire world, but as the lockdown eases, businesses open and the Costa del Sol prepares itself to receive visitors and homeowners in safe, comfortable conditions, the appeal of this sunny, low-density region with its quality lifestyle becomes more evident than ever – prompting many to look at Marbella as a full-time home rather than just a holiday destination.
Mary Dunne Partner & Private Office Advisor
Mary Dunne is an experienced Real Estate Broker in Marbella with over two decades of expertise in the luxury property sector. She offers profound insights into Marbella’s luxury market, backed by her extensive experience with property transactions’ financial and legal facets. Her deep market knowledge positions her as a trusted expert, providing tailored experiences for high-end clients and showcasing Marbella’s lifestyle.
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