Surge in Foreign Visitors Opting for Holiday Home Rentals Over Hotels
The trend of foreign visitors choosing to rent holiday homes over hotels is on the rise, offering them more freedom, privacy, and flexibility. This trend is now evident in the popular Golden Triangle area on the Costa del Sol.
Significant Increase in Luxury Holiday Rentals in Marbella, Estepona, and Benahavis
A study conducted by Pure Living Properties, a real estate agency, reveals a 30% increase in luxury holiday rentals in Marbella, Estepona, and Benahavis from January to August. The agency recorded 320 rental bookings during these eight months, marking a rise of 76 compared to the same period in the previous year. Interestingly, this figure has already surpassed the total number of bookings for the entire year of 2023.
Longer Stays in Exclusive Areas Along the Malaga Coast
The report also emphasizes the increase in the duration of stays in the most exclusive areas along the Malaga coast. Last year, foreign visitors stayed an average of six days, which has now increased to 18 days, effectively tripling the length of stay.
Positive Outlook for the Luxury Holiday Rental Sector
Javier Nieto, CEO of Pure Living Properties, asserts that 2024 has been a highly successful year for the entire luxury holiday rental sector. He anticipates a promising future for the sector in the coming months. With key periods like the autumn and December holidays still ahead, he expects the growth to significantly exceed the current 30%.
Pure Living Properties: A Specialist in the Luxury Sector
Pure Living Properties currently boasts an extensive catalogue of over 150 rental properties in the renowned Golden Triangle. Prices range from €700 per night for a villa with a garden and pool to over €10,000 per night for luxury mansions.
Most In-Demand Properties Priced Between €1,000 and €3,000 Per Night
However, CEO Javier Nieto points out that while they have villas at the higher end of the market, the most sought-after properties are those priced between €1,000 and €3,000 per night.
Difference in Daily Spending Between Hotel Guests and Luxury Rental Guests
A significant difference between tourists who choose holiday rentals and those staying in hotels is their daily spending in the local area. According to a survey by the Spanish Statistics Institute (INE), the average hotel guest in the Golden Triangle spends €170 per day. In contrast, those opting for luxury rentals can spend as much as €6,000 per day, according to the real estate agency.
