Here’s a little of my own experience:
I moved to Marbella few years ago, my family and I, we rented a spacious villa in which to live as a family and use as the base from which to work, but soon encountered couple of things I didn’t expect before:
- Properties not suitable to rent for longer term periods (average 6 months or above)
- Many of the renting agents did not provide the level of service required – their main idea was “the sale” more than an enjoyable experience.
What happened to me, as example:
We rented a villa for a very high sum. In theory, it should have been luxurious, when we met the reality of the villa the property had lots of construction defects and we suffered from a complete lack of support and service from the agents. We then ended up moving and rented a large and supposedly luxurious apartment in one of the best areas of Marbella, then again, it was a total disappointment, which resulted in a huge bill.
Taking into consideration these personal experiences, it led me to the conclusion that the rental market on the Costa del Sol was overpriced and was still lacking in being able to provide up to date luxury homes, sufficient support services and even properly professional rental management. Insufficient digitization and many other key elements to provide the real “luxury rental” experience.
Witnessing the transformation of the “luxury rental”
Over the past few years, the situation for luxury rentals in Marbella has improved significantly, thanks to:
- A new generation of stylish and modern villas, apartments and penthouses has entered the market to meet the needs of today’s clients.
- The sale of key-ready properties equipped, fitted and decorated to the required standard
- The growing availability of such properties for upmarket rentals, as their owners and/or investors increasingly become aware of the income potential
- The arrival of professional new specialist firms such as Marbella Mountain Resorts, that set the bar to a whole new local and international level.
The result is a fast-developing, new-generation market dedicated to luxury rentals that is not only making this activity more appealing than ever before, as well it took into account the growth of the local market, that has become the perfect complement to the luxury properties, causing the “all included” Marbella experience. Why moving away if you can get all to fulfill your needs and rent a place that you can call “second home” at the same time?
Why Has the Luxury Rentals Market in Marbella Developed?
Many factors have led to the development of Marbella’s luxury rentals market. For ‘guests’, the incentives of renting a private home are many:
Let’s review the economic perspective: the cost is lower than the equivalent of a luxurious hotel. Renting a private villa has nice perks: privacy, more space, the ability to use a kitchen and cook breakfast or bring a personal chef, the pleasure of being a ‘host’ and inviting friends over for a barbecue, as well as being child and pet friendly, and enabling clients to bring a nanny if they may consider it appropriate.
Other reasons for the development of the industry I can think of:
- Insufficient hotel accommodation
The rapid development of this industry has resulted in a boom in limited hotel accommodation offered by Marbella’s 65 hotels and 14,055 rooms. It is supported by the presenting tourism market.
- The “covid” Impact
After the pandemic many people decided to migrate and choose a lifestyle in desirable places like Marbella. Overall, people demand quality, luxury places to be at, and most important: a high quality long and medium term rental places.
- Improved service and standards
In addition to the high-end rental market and strong demand for a new generation of high-quality real estate, this segment has a new level of professional service and concierge management, with greater hospitality than the real estate sector.This evolving landscape and superior returns. Given that, many buyers, even luxury properties, are much more open to renting out their properties than they used to be, leaving properties to professional organizations such as Marbella Mountain Resorts.