The average price of a home in Marbella increased by 3.1% in 2022

As of 2023, the property market in Marbella continues to experience strong demand from both local and international buyers. Despite the challenges posed by the COVID-19 pandemic, the town's reputation as a high-end luxury destination has helped to maintain interest in its real estate market.

According to recent data from Spanish property portal Idealista, the average price of a home in Marbella increased by 3.1% in 2022, compared to the previous year. The town's luxury segment, which includes high-end villas, apartments, and penthouses, has performed particularly well, with some properties selling for over €10 million.

One factor driving demand for luxury properties in Marbella is the rise of remote work and the growing popularity of "work from home" arrangements. Many buyers are seeking properties that offer ample space for home offices, as well as access to high-speed internet and other amenities that facilitate remote work. Additionally, some buyers are looking for second homes or vacation properties that offer a sense of privacy and seclusion, which has further fueled demand for luxury properties in Marbella's upscale neighborhoods.

Despite the strong demand, there are some concerns about the sustainability of Marbella's property market in the long term. Some experts have warned that rising prices and a lack of new construction could lead to a shortage of affordable housing, which could limit the town's appeal to younger buyers and families. Additionally, some have pointed to the ongoing challenges posed by the COVID-19 pandemic, such as travel restrictions and economic uncertainty, as factors that could dampen demand for luxury properties in the future.

Overall, the property market in Marbella remains a dynamic and highly sought-after destination for buyers seeking luxury homes and upscale amenities. While there are some challenges and uncertainties on the horizon, the town's reputation as a high-end destination is likely to continue driving demand in the years to come.