Any resident or regular visitor to Marbella will have noticed a significant increase in numbers on the Costa del Sol this summer. Whilst much of the Spanish tourism industry is still wary of citing overly positive reports for the season, the bustling shops and restaurants are evident. In addition, the demand for short-term summer rentals in prime Marbella property areas has also been of a level rarely seen in recent years.
Whilst Málaga airport reported only a 0,3% increase in arrival numbers in July (source: Aena), compared to 2011, August is expected to provide a substantially sunnier outlook. And obviously the airport tells only part of the story as many Marbella visitors now arrive by car with the road systems also improving – the long-awaited San Pedro tunnel is finally complete and has transformed the traffic-jam strip into a free-moving dual carriageway.
So, whilst Marbella has obviously suffered during the years of economic difficulties, its resilience as one of the world’s most sought-after holiday locations is undeniable. Local residents and tourism-related businesses in Marbella and along the Costa del Sol do, of course, feel the tightening of belts when global spending decreases to the levels that we have witnessed recently, but there are many classic bars and restaurants in this area of Southern Spain that have consistently opened their doors, year-round for decades. As we have always said, the nature of Marbella is cyclical and so there is a requirement for Marbella residents and investors to be economically savvy and prepared for the slower time. But Marbella will never be without its booms. We know that these booms will continue to occur in a periodic fashion.
The Marbella market is, of course, buoyed by factors such as the stunning local weather (and the contrary weather experienced in areas of Northern Europe – this summer having been particularly bad in the UK), the airports and transport infrastructure, the natural beauty, beaches, countryside and the decadent way of life. At the Crest Group we never promise our clients that investments can be made and gained from within the short-term. It has been our experience that the savvy investments prepared for the longer-term and it is these people who have reaped rewards of over 300% (eg: Los Arqueros Golf following the previous recession).
As we are starting to see again now, Marbella’s consistent popularity is swayed only by times of extreme peaks. It is when these peaks in Marbella tourism numbers drop or waiver that the most sensible property investments can be made. And, as we are already seeing interest in Marbella property becoming steadily more appealing, it is important that opportunities are assessed and acted upon only once the correct information and advice has been obtained.
The Crest Group International is a real estate company with experience in designing, building, managing and selling Marbella property. We know what makes a good investment and when the right time to make that investment will be. Contact us for more information.