Marbella has permanently joined the ranks of luxury resorts, attracting the attention of tourists and investors from all over the world. This is borne out by the historic performance of the Costa del Sol property market, surpassing that of the investment boom of 2006 and 2007.
Record sales results in Andalusia
During the first half of 2022, 70,000 property purchases were recorded in Andalusia. Considering that last year there were more than 600,000 purchase and sale agreements in Spain as a whole and more than 100,000 in Andalusia alone, all indications are that 2022 will end with the best result in a dozen years.
Performance of Marbella and surrounding areas best in many years
The recently published ‘Marbella Property Market 2022’ report gives a little more insight into the figures for property sales in Marbella over the past several months. According to observations made by Agnes Inversiones on the transactions carried out, 2021 saw the best results in 15 years! In the Marbella-Estepona-Benahavis triangle, a total of more than 8,600 sale and purchase agreements were concluded.
The growing strength of the Marbella agglomeration is also confirmed by the figures for the first quarter of 2022, in which – compared to the same period in 2021. – managed to improve the number of transactions in Marbella by 65%, in Estepona by 115% and by 79% in Benahavis. At the same time, relative to the first three months of 2021, the entire agglomeration has improved its transactional performance by as much as 83%! This result far surpasses the market’s achievements of the historic year 2007, when there was a huge investment ‘boom’ in the Spanish property market.
Source: Property Market Marbella 2022
Who buys property in Spain
When it comes to the purchase of property in Spain by foreigners, the Brits, along with the Germans and the French, have continuously led the entire stakes for years. The percentage share of foreign buyers in the first quarter of 2022 in the province of Málaga was just under 30%, the best result since before the pandemic, i.e. since the first quarter of 2018. Nationwide, only Alicante, located in the Valencian Autonomy (36%), and the islands of the Balearic Islands (34%) and Tenerife (30%) boast a better percentage share.
Reviewing the statistics made available by the Registradores de España, it is worth noting one more aspect. The top ten nations most likely to buy property in Spain again include Poles, with a market share of 2.4% of all transactions by foreigners between January and March 2022.
The interest of our compatriots in this beautiful, sunny region is definitely gratifying and we hope that the rate of their property purchases in Marbella will increase again in the coming months!
