looking to buy a home?Submit this Form and Benefit from our 25 Years' Experience & Strong Local Network.
As we’ve previously reported on the Realista blog, sales of Costa del Sol real estate have been brisk since the pandemic. The latest statistics for property in Marbella confirm this trend, as the resort registers its highest number of transactions ever. These figures place Marbella in the fifth position in Spain for most sales.
Record sales of property in Marbella
The latest data from the Ministry of Development (Ministerio de Fomento) confirms the busy market in Marbella. Sales in the resort in the second quarter of this year reached their highest ever.
Between April and June, some 1,810 homes changed hands in Marbella. The figure is almost 40% higher than sales during Q1 and nearly 58% more than Q2 2021.
Confirmation of trend
The 1,810 sales of properties in Marbella in Q2 this year rank as the highest and easily break the previous record. The last highest figure was recorded in Q4 last year when 1,523 transactions took place. Sales in Q2 were 18.8% higher.
The previous record dates back to Q2 in 2006, a quarter when 1,334 properties changed hands in Marbella. The new highest figure set 16 years later confirms the resort’s status as a leading light in the Costa del Sol and Spanish property markets.
Fifth highest in Spain
The latest sales figures also place Marbella high in the table of national rankings. According to a report from Housell, Marbella stands in the fifth position in Spain for most transactions behind the much larger cities of Madrid, Barcelona, Valencia and Granada.
Although Marbella takes centre stage regarding real estate transactions on the Costa del Sol, four other municipalities also feature in Spain’s top 15. Malaga city sits two places below Marbella in the seventh position, while Estepona, Mijas and Benalmadena occupy the eleventh, thirteenth and fifteenth places, respectively.
In the case of Marbella and Malaga, both cities’ rankings have not changed since 2021. However, Estepona rises one place on the table, and Mijas climbs a full three.
Shortage of properties
Given the high number of transactions, it’s perhaps no surprise to discover that Marbella suffers from a lack of supply. According to the latest planning document published by the city council, Marbella has a deficit of almost 4,000 homes.
Some 3,850 properties are needed over the next five years to satisfy demand, including 700 social homes. As a result, Marbella mirrors the general lack of inventory on the Costa del Sol as new development, and resale listings fail to keep up with buyer demand.
Find your property
There’s no doubt it’s a tight market in Marbella and, by extension, on the Costa del Sol. However, that doesn’t mean that properties aren’t available. To help you find them, get in touch with our friendly team with years of experience in this busy market.
Get in touch with them now to kickstart your property search and locate the best home for you.