Add Your Beyond billionaires and bling, the real Marbella attracts a variety of buyersHeading
The real estate sector is growing on the Costa del Sol.
Sales are back to pre-pandemic levels for both the super-villa set and on the city’s more cosmopolitan, authentic side.
Sales in Marbella fell by 30 per cent in 2020 versus 2019, according to figures from Spain’s Ministerio de Fomento (ministry of development). But in Q3 and Q4 of 2020, inquiry levels rose by 32 per cent compared with the same period of 2019 and, in the first half of 2021, there were 1,917 transactions compared with 1,836 in 2019. “The figures clearly show strong recovery in Marbella to more or less where it was just before the pandemic struck,” says Wood, citing Ministerio de Fomento data showing that of the 5,156 homes bought by foreigners in Málaga province in the first half of 2021, 37 per cent were in Marbella.
After the strict lockdowns of 2020, it feels like a new golden age of sorts for the coastal town that came to prominence in the 1950s, when Alfonso de Hohenlohe built the Marbella Club Hotel and drew Hollywood and European bigwigs to this spot between the Sierra Blanca mountains and the Mediterranean. They were attracted by its combination of natural beauty and 320 days of sunshine a year. Today’s international high-end buyers are knocking down old Mediterranean-style villas in seafront enclaves populated by the first wave of British and German migrants from the 1970s, and building huge super-villas. Antonio Ruiz at ARK Architects, whose projects include Villa Ibiza in La Zagaleta, has noticed a changing profile among buyers of his practice’s turnkey villas — fully furnished properties that cost €5m-€12m.
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