Marbella’s luxury property segment immune to Covid-19?

Publication: 12 Aug. 2020
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Not only can a property sector not catch a virus but Marbella’s luxury real estate segment has shown itself to be immune to the economic impact of Covid-19. We all know that the travel, tourist and hospitality sectors around the world have been hit hard by this unexpected crisis, but those specialising in luxury homes in Marbella and surrounding areas report unexpectedly high levels of activity, which suggest that among solvent people and investors owning a getaway property or even a fulltime home in Marbella has become a very popular option.

While the period of lockdown and confinement between mid-March and May did indeed see reduced levels of interaction, albeit with a surprisingly high level of virtual viewings and transactions, the easing of the travel restrictions from June onwards produced a rapid rise in the number of requests for property information, personal viewings and ultimately sales. Marbella leads Spain’s luxury hotspots as a destination in which people from across Europe and beyond have chosen to own a holiday getaway or a fulltime home.

Marbella is a sought-after location
Marbella’s climate, its reputation as a glamorous destination and its array of luxury services all account for its popularity among High Net Worth Individuals, but it is also particularly in demand right now because it offers a preferred location in which to spend another quarantine period, should one come along in the near or distant future. The space, climate, views, home amenities and outdoor living add to this, and within this trend we’ve seen people look especially in Marbella for villas and apartments with private gardens, swimming pools, entertainment areas and even indoor pools and spas.

Many are also keen to install home work stations or entire office spaces and studios within their new Marbella villas and apartments, as they are looking to work from here for extended periods of time. Others have re-evaluated their lives after the Covid-19 experience and are seeking a more natural life in a beautiful environment away from the stresses of crowded urban centres. With the capacity these days to work remotely and commute to occasional meetings, this has now become a viable option for large numbers of professionals and business owners.

Thanks not just to the properties themselves, but the lifestyle offered by Marbella and its many different choices of locational settings, this region’s real estate sector is experiencing no Covid-19 impact. Quite the contrary, with the upper segment particularly strong as people with means seek solid lifestyle-based investments in specially selected locations.

Further reading available here:
https://www.economiadigital.es/politica-y-sociedad/las-inmobiliarias-de-lujo-de-marbella-y-mallorca-son-inmunes-al-coronavirus_20086422_102.html

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