Digital Version Guide 005 - Flipbook - Page 25
INTEREST RATES AND THEIR IMPACT ON BUYERS
EMERGING HOTSPOTS IN MARBELLA
While established areas like Nueva Andalucía, the
Golden Mile, and Zagaleta remain highly sought
after, newer locations like El Madroñal are emerging
as hotspots. “El Madroñal is definitely an area to
watch in 2025,” says Roger. “After years without new
development, we launched Villa Five. A brand new
El Madroñal villa, sold at record speed, and there
are several new luxury properties in the pipeline.” In
addition, the “New Golden Mile” between Marbella
and Estepona, along with the “Golden Triangle”
comprising Marbella, Estepona, and Benahavís,
continue to attract interest from buyers and developers
alike.
When compared to luxury markets like the French
Riviera, Monaco, and Miami, Marbella continues to offer
great value for money, making it an attractive choice for
international buyers seeking both second homes and
permanent residences.
SHIFTING BUYER DEMOGRAPHICS IN 2024
While Scandinavian buyers have long been a dominant
force in the Marbella real estate market, 2024 saw a
shift. “We did see some hesitation from Scandinavian
buyers,” Roger shares. “Rising interest rates and
a weaker Swedish currency have made them more
cautious, but we’ve seen other nationalities like Polish,
Canadian, and American buyers stepping in to fill the
gap.”
2025 TRENDS IN DESIGN AND DEVELOPMENT
In 2025, we see a continued shift in design trends.
Internationally renowned architects are increasingly
making their mark on Marbella’s luxury market,
introducing more diverse and innovative styles. Roger
comments, “We are definitely moving away from the
traditional ‘white box’ villas. More and more, we’re
seeing a shift towards homes that combine luxury with
functionality, incorporating sustainable features and
smart home technology.”
Despite these changes, Marbella remains a global hub
for property investors, with buyers hailing from over 153
countries. “Marbella continues to be an international
destination, and when one group shows hesitation,
others tend to step in and keep the market active,”
Roger adds.
THE RETURN OF HESITANT BUYERS IN 2025
Economically, experts predict price increases between
5% and 10%, fueled by rising construction costs, which
are now reflected in new developments. As demand for
high-quality properties continues to outpace supply,
the luxury market in Marbella remains one of the most
attractive real estate sectors in Europe.
With interest rates expected to decline in 2025, Roger
anticipates a return of Scandinavian buyers. “As interest
rates come down, we expect Scandinavian buyers to
return, restoring their purchasing power. That being
said, we are still seeing great interest from other
countries as well.”
THE REMOVAL OF THE GOLDEN VISA AND
MARKET IMPLICATIONS
MARKET SENTIMENT FOR 2025
While Spain’s decision to phase out the Golden Visa
may affect some segments of the real estate market, its
overall impact on Marbella is expected to be minimal.
Roger explains, “The Golden Visa has not been a
significant factor for us at Homerun Brokers. While it
is unfortunate that the program is being phased out,
it won’t have a big impact on the Marbella market.
Marbella remains a sought-after destination for
international buyers.”
The mood for the 2025 market is overwhelmingly
optimistic. January 2025 saw a record amount of
activity, signaling a strong start to the year. Traditionally
a slower month, the rapid pace in January suggests
that demand will remain high throughout 2025. “2025
started as the strongest January we’ve seen,” Roger
comments. “Agents were extremely busy, and we saw
a lot of activity early on, which is very promising for the
rest of the year.”
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R E P O R T
Interest rates have been a focal point in recent years,
especially in the luxury property segment (€2M+),
where only 10% of buyers rely on mortgages. However,
as interest rates decline, the €2M–€5M segment is
expected to regain momentum in 2025. “Interest rates
have been a key discussion point,” Roger explains.
“But with rates coming down in 2025, we expect more
buyers in the €2M–€5M range to enter the market
again.”
M A R K E T
Marbella’s reputation as a top-tier destination was
solidified in 2024 when it was voted “Best Overall
Destination” by over a million seasoned travelers. This
recognition underscores Marbella’s appeal as not just a
vacation spot, but as an exceptional place to live yearround. The region’s population grew steadily, with over
165,000 registered residents, and the influx of seasonal
visitors added another 100,000. “The population
growth in Marbella is one of the key drivers of the real
estate market,” Roger adds. “With such a growing
demand for high-quality properties, we continue to see
buyers prioritizing design excellence and functionality.”
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KEY MARKET TRENDS FROM 2024
