A Shift in Seasonal Demand
Marbella has long been synonymous with a welcome break in the sun ever since discerning holidaymakers began flocking here in the 1970s. It’s become a beloved destination for luxury tourism, with peak activity traditionally occurring in the summer months.
However, a significant shift is taking place as winter tourism gains momentum, reshaping the local real estate market. Marbella’s mild winter climate, averaging between 18-20°C, has made it an increasingly attractive destination for those escaping colder European winters. Events such as the Málaga Film Festival, elite sports tournaments, and cultural festivals have further bolstered its appeal, attracting a wealthier clientele who often stay for extended periods.
Winter Tourism Driving Real Estate Growth
This rise in winter tourism is having a profound impact on real estate. As more visitors stay in Marbella year-round, demand for both short-term rentals and property purchases has surged. Many seasonal tourists are transitioning into homeowners, seeing Marbella not just as a holiday destination but as a viable location for second homes or investment properties. As a result, property values have experienced notable growth. Between June 2023 and June 2024, Marbella’s real estate prices rose by 13.7%, reaching an all-time high of €4,812 per square meter.
A Changing Buyer Profile
The buyer profile in Marbella has also evolved. While traditionally dominated by British and Northern European investors, recent trends show increased interest from North American and Middle Eastern buyers, drawn by the region’s luxury offerings, stable economy, and favourable tax conditions. This shift is also reflected in the expansion of high-end developments. The "Golden Triangle" of Marbella, Estepona, and Benahavís has seen luxury holiday rentals rise by 30%, with developers responding to the demand for exclusive, up-market properties catering to long-term stays.
The Future of Marbella’s Property Market
Looking ahead, the influence of winter tourism on Marbella’s property market is expected to continue. As the city cements itself as a year-round destination, demand for rentals and permanent residences will likely remain high, requiring further infrastructure investments. Real estate agencies and developers must adapt to these evolving trends, offering properties that cater to both investors and long-term residents.
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For those looking to invest in Marbella’s thriving real estate market, partnering with a trusted agency is essential. NVOGA specialises in connecting clients with premium properties tailored to their needs. With extensive roots in the Costa del Sol market, we provide expert guidance to help you secure the perfect property. Explore our exclusive listings today and take advantage of Marbella’s dynamic real estate landscape.