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Post COVID-19 investment boom in Marbella property

Since the start of the pandemic, there has been a noticeable shift in the real estate market with 4,628 sales in 2021 compared to 2,560 in 2020.

People are looking for more space and privacy away from the hustle and bustle of the cities, and Marbella, with its stunning villas, is the perfect destination. After a year of lockdowns and restrictions, luxury villa sales in Marbella have seen a major surge, as more and more people flock to the popular Spanish destination in search of a new home.

Marbella and its surrounding areas reached their peak in the market towards the end of 2021. The first 6 months of 2022 also saw a rise of 65% compared to 2021 and it is no doubt that the trend will continue to rise as we make our way through 2023.


When the COVID-19 pandemic hit in 2020, sales dropped significantly for the first time since the 2008 recession to just over 1,000 sales in the first 6 months.

With my Zibel Real Estate portfolio, I have acquired a luxury property in one of the most sought-after areas of Marbella. Casa Bel Air, Marbella -  https://tkbelair.com/

The area offers a great combination of affordability and luxury, with villas often going for well below market value. It is no secret that following COVID, the economy across the world has taken a turn for the worst.

Despite this, it was announced in 2022 that more than 2,000 companies were created in Marbella since 2019, which is more than any non-capital city in Spain.

Less reliance

More specifically, the United Kingdom Property Reporter stated that a recent study has revealed that 54% of those thinking about buying abroad were doing so because of the current economic crisis.

The current economic climate, particularly across the UK and Europe has encouraged more people to invest in property, with luxury villas being a particularly attractive option.

It has also been noticed that there has been a shift in those investing in properties across Marbella. There is now much less reliance on Brits as recent real estate data has shown that there were around 21 different nationalities purchasing a property.

Popular locations

The top buyers have been shown to be British (16%), Swedish (14%) and Belgian (9%). It has been reported that due to the rise in sales, there is a shortage of property. The Four Seasons in Los Flamingos has nearly 100 apartments and penthouses that normally have up to 10% available to purchase.

However, following the pandemic, there was an obvious need and desire to buy causing popular locations to have extensive waiting lists. With 2021 and 2022 unprecedented sales figures, it is no doubt that many more will venture towards Marbella and surrounding areas.

2021 alone saw an increase of 30.15% in sales with 2022 increasing further to  73%.

With the rising inflation across the majority of the Western world, a drastic increase in direct construction costs is bound to occur. There was an increase of 23.5% in 2021 and demand for property is in excess of supply.

With this comes the inevitable rise of property prices that are due to increase further in the future. Marbella has increase in popularity across all seasons of the year and has evolved to an entirely new level in terms of image and quality as a whole. Low seasons have ceased to exist and efforts are being made to enable further expansion of popular areas.

*Tej Kohli is a real estate investor & philanthropist focused on properties in premium micro-locations which transcend cycles and transacting as the Zibel Real Estate portfolio. He is also the founder of a global blindness charity, the Tej Kohli & Ruit Foundation.


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