Marbella Homes Drawing Attention From Foreign Buyers

Marbella Homes Drawing Attention From Foreign Buyers

Everything about Marbella, from the beauty and atmosphere to the glamour and culture, has always been a hit with both foreign and domestic visitors.

Costa del Sol Property market continues to rise

as demand is going pace

Marbella just wouldn’t be the same without all of this foreign interest. From the birth of the resort town in 1950, when it was just a humble little fishing village, to becoming the home away from home of the rich and famous, Marbella has always seemed more international than it has Spanish.

So no one is going to be surprised to learn that research published by the Spanish Registrars revealed that over 80% of the properties sold in Marbella went to foreign investors.

The data for last year shows that foreigners purchased just under 14% of the properties sold in Spain. 60% of these foreign investors came from the European Union. Another report; one focused only on Marbella, used the Spanish Registrar data to show just how popular Marbella property for sale has become for international buyers.

The report shows that the demographic of Marbella has changed a little though. Marbella remains heavily international but now more Spaniards are coming back to the resort and the towns in the area.

The number of Spanish visitors to Marbella was over 350,000 a year in 2006. The number was reduced dramatically by 2013, when barely 100,000 Spaniards made the journey. There were a few reasons why such as the poor economy, the high cost of staying in Marbella, and the whimsical nature of fashion.

Last year Marbella suddenly became popular again with over 250,000 Spaniards visiting. This number is expected to rise again this year.

The property market of Marbella is looking healthier than ever too. There were 4,390 homes changing hands last year. This number was just one percent below the 4,432 homes exchanged in 2006; the peak of the housing market.

Experts say this is due to the demand for homes in the area, better prices, and higher buyer confidence. The recovering economies in Europe and the world at large are also behind this increase.

Even though more property is being sold the latest data suggests that the properties of Marbella are still priced at around 20% less than they were during the peak of 2005.