Spain is an incredibly popular tourist destination. Thousands of people flock to the country’s sunny Mediterranean beaches, particularly around the Costa del Sol. Many retirees choose to take up permanent residence, in order to enjoy their newfound leisure time with the help of warm weather, a high standard of living, and easy access to the sea. One of the most popular destinations for both tourists and retirees is Marbella, and this has led to growing demand for property.
Properties in Marbella are attracting major interest from investors around the world. Recently, the values of residential properties have been generally increasing between 10% and 25% each year. Demand for commercial properties has been growing as well, as more and more tourists have flocked in to feed the tills of shops, restaurants and bars throughout the area. As such, investors are finding great opportunities in every kind of property in Marbella, whether designed to accommodate individuals or businesses.
Because the tourist trade is thriving, and continues to grow with every holiday season, tourist properties are among the most popular and profitable in Marbella. Tourist apartments and holiday homes are proving sources for some very strong returns. Luxury tourist properties can also make for a sound investment. Wealthier demographics and celebrities are increasingly choosing Marbella as their destination of choice.
The current boom looks set to continue, meaning that demand is likely to remain consistently high in the future and continue to keep property investments secure. This is partly boosted by a series of improvements to the area’s transport infrastructure. Recently, a new high-speed railway terminus was completed, making the area more accessible and further increasing the number of visitors to Marbella every year. A new €400 million port is also in development, providing private berths and cruise ship docking. This is expected to be a huge boost to the already-booming tourist trade, particularly among wealthier demographics.
The combination of a strong present and a secure future is feeding a number of new builds in Marbella. These are providing a number of highly attractive opportunities for investors, both in residential complexes and commercial developments. Like many new-build complexes, the initial outlays are affordable and the returns promised are often excellent.
With the current state of Spain’s property market and a strong future promised, both new-build and existing properties are likely to prove rewarding in both the short- and long-term. With demand outstripping supply across the board, residential, commercial and tourist properties alike will probably be easy to fill. Based on the trends of the past few years and with recent economic developments set to keep those trends going, properties of every type are also likely to experience significant value growth year-on-year, while continuing to provide excellent returns on the original investment.