US Real Estate Firm Expands into Southern Spain
The Agency, a renowned US real estate company, has marked its expansion into southern Spain by releasing its inaugural Annual Real Estate Market Report. The report focuses on Marbella and the Costa del Sol, highlighting the current and future trends in the luxury market and confirming its dynamism.
Costa del Sol’s Luxury Real Estate Market Experiences Growth
The Agency’s report indicates a surge in American investment in the Costa del Sol, with a keen interest in purchasing property for secondary residences or investment purposes. The report provides an in-depth analysis of the property market, rental market, and tourist flat sector.
Marbella: A Top Destination for American Tourists and Shoppers
The report also notes a significant increase in US tourism in Spain. In 2023, Spain welcomed 3.8 million American visitors, and in the first two months of 2024, the figure reached 337,062 – a 23.7% increase from the previous year. This rise is also reflected in higher visitor spending, which totalled €8 billion in 2023, a 50% increase from 2022.
Direct Air Routes Boost US Tourism in Spain
The report emphasizes the importance of direct air routes between Spain and the United States in driving this growth. By 2024, there will be 24 direct flights connecting 11 American cities with five Spanish cities, including a new route between Malaga and New York.
Spanish Property Market Continues to Attract International Investors
Despite a 10% drop in foreign purchases in the second half of 2023, the Spanish property market continues to attract international investors. Property prices have remained stable, with Marbella emerging as a preferred destination for US buyers, offering a safe and stable environment amid global geopolitical tensions.
Andalusian Property Market Shows Solid Growth
The Andalusian property market is demonstrating solid growth. In 2024, a 12.3% increase in per-square-metre prices and a 13.4% increase in home sales transactions are expected. Demand from both domestic and foreign buyers has consolidated Andalusia as an attractive destination for real estate investment.
Marbella’s Luxury Real Estate Market Thrives
In Marbella, property prices have increased by 10% in the last year, reaching an average of €4,533/m2 in February 2024. The Agency’s report ranks Marbella as the 16th most expensive city in the world for luxury residences, surpassing Madrid and Dubai.
Marbella and the Costa del Sol: Preferred Destinations for US Investors
In conclusion, The Agency’s report confirms that Marbella and the Costa del Sol continue to establish themselves as preferred destinations for US investors and holidaymakers, offering a growing luxury property market and an attractive lifestyle.
Property for Sale in Marbella and the Costa del Sol
Marbella epitomises luxury living, and its property market is a testament to this. The diverse range of properties includes exquisite villas, stylish apartments, charming townhouses, and opulent penthouses. Many of these properties feature breathtaking views of the Mediterranean Sea, pristine golf courses, or the stunning mountain backdrop.
The Costa del Sol: A Blend of Modern Amenities and Traditional Andalusian Charm
Located on the renowned Costa del Sol, Marbella is part of a region celebrated for its beautiful coastline, vibrant culture, and year-round sunshine. The Costa del Sol offers a rich lifestyle with a blend of modern amenities and traditional Andalusian charm, attracting visitors and residents from all over the world.
Find Your Dream Property in Marbella and the Costa del Sol with Idealista
Whether you’re looking to buy a luxury home in Marbella or the Costa del Sol or seeking a prime investment opportunity, Idealista is here to assist you.
