Marbella, located on the shores of the Mediterranean Sea, currently has the status of a luxury resort that attracts the attention not only of tourists, but also of investors. Proof of this is that the city obtained a very high second place in the “Best European Destination 2022” plebiscite. In recent months there has been a record increase in real estate turnover in Marbella. Both individual investors and investment funds continue to make many new investments. Its value is around billions of euros.
A city that is still developing.
The growing popularity of this Andalusian resort means that the authorities are doing everything they can to strengthen its reputation. They recently decided to increase the city’s development budget by 10 million euros spread over four years. The project called “Large Cities Tourism Plan” focuses on several initiatives in areas such as environment, culture and innovation. Part of the funds will go towards modernizing beaches and modernizing various recreational facilities. There are also plans to expand green areas, such as parks and gardens popular with tourists and residents. Therefore, it is not surprising that investing in Marbella is so attractive.
Record sales results
In the first half of 2022, there was an impressive increase in real estate sales in Andalusia. While last year 100,000 cases were registered in the region. In the first two quarters of this year alone, up to 70,000 transactions of this type were closed. purchase and sale contracts. Therefore, it can be expected that a record will be broken in this context at the end of December. The “Marbella Property Market 2022” report showed that the Marbella agglomeration is developing exceptionally dynamically.
Data for the first quarter of this year revealed that, compared to the same period last year, the number of transactions in Marbella alone increased by 65%, in neighboring Benahavis by 79% and in nearby Estepona by up to 115%. The entire agglomeration improved its result by 83%. This means that the result even exceeded those obtained during the historic boom of 2007, when there was a sky-high investment boom in Spain. The report mentioned above also shows that, although the foreigners who most buy Spanish properties continue to be British, German and French, Poles also appear in the top ten. Its market share is currently 2.4%. all transactions made by foreigners until April 2022.
