The Marbella property market in 2024 has shown strong resilience and continued growth, particularly in the luxury sector, with a mix of rising prices and increased demand. While sales figures are still high, the rate of growth is gradually slowing down, and the market is not expected to experience a bubble. 

Market Performance and Trends:

• Continued Growth:The Marbella property market, particularly in the luxury segment, has shown strong performance with increasing demand and rising prices. 
• Luxury Sector Dominance:The luxury market, including areas like the Golden Mile and Nueva Andalucía, is experiencing high demand and significant price increases. 
• Limited Supply:A shortage of available properties, particularly new builds, is contributing to the upward pressure on prices. 
• International Interest:Marbella continues to attract significant interest from international buyers, including investors from the United States, the Middle East, the UK, and northern Europe. 
• Slower Growth Rate:While the market remains strong, there are indications that the rate of price increases and sales growth may be moderating compared to the post-pandemic boom. 

Factors Driving the Market:

• Lifestyle Destination:Marbella’s reputation as a luxurious lifestyle destination, with its beautiful scenery, amenities, and vibrant social scene, is a major draw for buyers. 
• Global Events:Events like direct flights between Málaga and New York, and the return of Donald Trump to the White House, are boosting international interest in the area. 
• Strong Economy:A robust Spanish economy, with low unemployment and growing wages, is also contributing to the overall strength of the market. 

Future Outlook:

• Positive Forecasts:Real estate market forecasts for 2025 remain positive, with continued price increases and rising demand anticipated. 
• Market Equilibrium:There are suggestions that an increase in property supply should help to alleviate some of the pressure on prices, leading to a more balanced market. 

Potential Challenges:

• Global Economic Shifts:While the market is currently strong, global economic shifts and rising interest rates could impact the market. 
• Potential Slowdown:While not expected to lead to a bubble, there are signs that the pace of growth might slow down in the coming years.